Castel Underwriting Agencies Ltd. has launched a new underwriting cell, North American Professional Liability (NAPL), to focus on professional service firms’ business in the U.S. The cell is writing both primary and excess layer coverage for larger risk managed clients …
New Zealand has become the first country to pass laws requiring banks, insurers and investment managers to report the impacts of climate change on their business, officials said on Thursday. About 200 of the largest financial firms in New Zealand, …
Acrisure, the Grand Rapids, Mich.-based global insurance broker, announced it has signed an agreement to acquire It’sSeg, the largest independent benefit management and insurance broking firm in Brazil. The partnership with It’sSeg marks Acrisure’s entry into the Brazilian market and …
AXIS Capital Holdings Ltd. said it will phase out insurance cover and investments in the coal business globally within the next 20 years. “It is our belief at AXIS that [insurance/reinsurance] industry needs to move to the forefront of the …
By 2025, 29 of the world’s biggest pension funds and investment firms, including Allianz SE and the California Public Employees’ Retirement System, intend to have cut the emissions of their portfolio holdings by at least 25%. The targets, which cover …
Hamilton Insurance Group Ltd. announced its decision to cease writing property treaty reinsurance through Syndicate 4000 in London. “We regularly review our book to ensure that we continue to drive underwriting profitability in line with Hamilton’s strategy of building a …
MOSCOW – Russia’s Renaissance Insurance Group will reduce the size of its IPO to $250 million from an initial $290 million, two sources told Reuters on Wednesday, selling only new shares plus an over-allotment option. The group has covered its …
Aston Lark, the Goldman Sachs-backed broker, announced the acquisition of Absolute Products Ltd., its 40th deal since its formation in 2018 and its 24th in 2021 alone. Financial terms of the deal were not disclosed. Established in 2002, insurance broker …
German reinsurer Munich Re doubled its profit in the third quarter, despite big losses from storms in Europe and the United States, it said on Tuesday, but left its forecasts for the year unchanged. Profit rose to around 400 million …
Years of low interest rates and burgeoning catastrophe losses have accelerated the hardening of the reinsurance market, as the January 2021 renewals clearly demonstrated, and moreover, the COVID-19 pandemic has worsened the “lower for longer” interest rate environment. Considering suboptimal …
