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Tag: development


InsurTech

Blue Owl completes acquisition of Kuvare Asset Management

July 2, 2024

Via: Reinsurance News

Alternative asset manager Blue Owl Capital Inc. has completed its previously announced acquisition of Kuvare Insurance Services LP (dba Kuvare Asset Management) (KAM), marking the official launch of Blue Owl Insurance Solutions. The $750 million acquisition enhances Blue Owl’s ability […]


Cyber Risks, Risk Management

DUAL North America partners up to boost cyber defenses

June 25, 2024

Via: Insurance Business

In response to increasing cyber threats, DUAL North America has formed a strategic partnership with CyberClan, a leading cybersecurity risk management firm. The partnership will expand the range of risk management solutions offered by DUAL. With the integration of DUAL Cyber into […]


InsurTech

Appian collaborates with PwC UK to bring innovative insurance solutions

June 19, 2024

Via: Reinsurance News

Appian has recently partnered with PwC UK to enhance its ability to deliver innovative services aimed at streamlining processes, improving customer experiences, and boosting operational efficiency for insurance companies on the Appian Platform. PwC serves over 4,000 insurance clients worldwide […]


InsurTech

Jensten acquires Chris Knott Insurance Consultants

June 13, 2024

Via: Reinsurance News

UK broker and underwriter Jensten has bolstered its London and South East presence through its acquisition of Chris Knott Insurance Consultants, a broker that specialises in both personal and commercial lines. Subject to regulatory approval, the deal will reportedly introduce […]


News

Farmers becomes first US-based insurer to sign UN sustainability principles

November 3, 2022

Via: Insurance Business

Farmers Insurance Exchange has announced that it has become the first US-based insurer to sign on to the United Nations Environment Programme Finance Initiative’s Principles for Sustainable Insurance (PSI), an international framework for the insurance industry to address environmental, social […]


News

Independence Pet Group (IPG) Completes Purchase of Fairfax’s Pet Insurance Units

November 1, 2022

Via: Insurance Journal

Independence Pet Group (IPG), the full-stack pet insurance platform, announced the completion of its acquisition of Fairfax Financial Holdings Ltd.’s U.S. and Canadian interests in the Crum & Forster Pet Insurance Group (C&F Pet) and Pethealth Inc. IPG purchased the […]


News

Insurance Agent wins Iowa State Senate Seat

December 17, 2021

Via: Insurance Journal

An Iowa insurance agent has overwhelmingly won a state Senate seat in a northwest Iowa special election. Spirit Lake insurance agent Dave Rowley, a Republican, won the special election Tuesday to fill the Senate District 1 set vacated by Zach […]


InsurTech

Tremor sees $175m premium transacted in 2021, marketplace revenue swells 400%

December 14, 2021

Via: Reinsurance News

Leading online reinsurance pricing and placing platform Tremor transacted $175 million of premium in 2021 and achieved marketplace revenue growth of over 400% year over year. Tremor Technologies Tremor has seen over $275 million of reinsurance premium transacted on its […]


News

Aspida Re names Jon Steffen as President

July 26, 2021

Via: Reinsurance News

Aspida Life Re (Aspida Re), the reinsurance subsidiary of Aspida Holdings, has appointed Jon Steffen as President. Steffen will lead Aspida’s reinsurance company, focusing on enhancing Aspida Re’s capital and risk management solutions offerings to its clients. Prior to joining […]


InsurTech

Insurance, Tech Stocks Outpacing Insurtechs in 2021: HSCM Index

May 4, 2021

Via: Insurance Journal

Stock prices of 18 U.S. insurtechs that went public in the last decade soared as a group in 2020. But so far in 2021, large non-insurance technology companies and traditional insurance stocks both outperformed the insurtechs. Hudson Structured Capital Management […]


Regulatory / Legal

Compliance committee criticises draft broker code

April 27, 2021

Via: Insurance News

The Insurance Brokers Code Compliance Committee has criticised a draft update of the code of practice for failing to sufficiently elevate cultural and behavioural standards and has called for a stronger stance on conflicts of interest. “The code must go […]


Regulatory / Legal

Is It Covered?: A Flood of Uncovered Claims

April 6, 2021

Via: Insurance Journal

On a recent insurance social media page, an agent was looking for a market for a $2 million home that had experienced a $540,000 plumbing leak claim and the carrier had nonrenewed. A few weeks earlier, another agent had been […]


News

Aggregate value of insurance sector M&A deals up sharply in Q1

April 5, 2021

Via: Business Insurance

First-quarter mergers and acquisitions involving U.S. and Bermuda-based insurance industry companies produced an aggregate deal value of $21.16 billion, according to a report Monday from S&P Global Market Intelligence. This year’s first-quarter tally tops full-year deal totals for 2019 and […]


News

Varney Insurance Agency launches Varney Re

April 5, 2021

Via: Insurance Business

Varney Insurance Agency has announced the formation of Varney Re, a Bermuda-based reinsurance company. Varney Re is a specialist alternative risk transfer reinsurance company that will serve a North American client base. Tod Austin (pictured above) has been appointed chief […]


Brokers

UK Broker, Specialist Risk Group, Acquires MGA CLS Risk Solutions

March 5, 2021

Via: Insurance Journal

Specialist Risk Group (SRG), a London-based insurance broker, has agreed to acquire CLS Risk Solutions (CLS RS), subject to regulatory approval. Financial details of the acquisition — its fourth so far this year — were not disclosed. Established in 2010, […]


Geo-Political, Risk Management

US winter storm loss creep likely to be prolonged: Aon

March 5, 2021

Via: Artemis BM

The complexities surrounding the development of an ultimate of insurance and reinsurance market losses from the recent US winter storm event are set to be significant, with broker Aon warning to expect a prolonged period of loss creep. winter-stormCurrently, estimates […]


Risk Management, Trends

Reinsurers disappointed with January renewals: S&P

March 3, 2021

Via: Reinsurance News

Analysts at rating agency S&P global ratings have noted that reinsurers feel they haven’t fully benefitted from their results, despite the global reinsurance pricing gains from the January renewals. S&P Global RatingsAlthough this year’s renewal season started with high hopes, […]


News

Chubb announces travel insurance partnership

February 26, 2021

Via: Insurance Business

Chubb has announced the launch of a new travel insurance partnership with Travix, a global online travel company. The collaboration will offer Chubb’s travel insurance plans to customers using Travix websites to make their travel arrangements. Customers can arrange for […]


Risk Management, Trends

M&A in insurance distribution continues to soar to record heights

February 24, 2021

Via: Insurance Business

RESILIENT. It’s a term often used to describe the insurance distribution market, and one that continues to attract the hungry eyes of the investment community. Despite the COVID-19 pandemic and resulting socio-economic challenges – a global recession and strained labor […]