Prudential, Warburg Pincus Team Up to Back New Reinsurer September 8, 2023 By Allison McNeely Prudential Financial Inc. and Warburg Pincus are among investors that contributed a combined $1 billion of equity to create a...
Markets/Coverages: Carpenter Launches Update of Catastrophe Analytics Platform September 8, 2023 Guy Carpenter, the reinsurance business of Marsh McLennan, announced the launch of the next generation of its catastrophe analytics platform,...
Allianz Unveils €20 Billion Spending Target in Net-Zero Transition Plan September 8, 2023 By Alastair Marsh Allianz SE is planning to invest €20 billion ($21.4 billion) in renewable energy and low-carbon technology by 2030, as it...
Hamilton Insurance Group Confidentially Files for US IPO September 8, 2023 Hamilton Insurance Group said on Thursday it has confidentially filed for a U.S. initial public offering, at a time when...
Reinsurance Rates to Rise in 2024, Soften in 2025: Fitch September 8, 2023 Reinsurance rates are likely to continue to rise in 2024, though at a slower pace than in 2023, and prices...
Lloyd’s in Talks With UN Over New Black Sea Grain Insurance Cover: CEO Neal September 8, 2023 By Jonathan Saul and Carolyn Cohn Lloyd’s of London is in talks with the United Nations over providing insurance cover for Ukrainian grain shipments if a...
Hong Kong Sees Heaviest Rainfall on Record; Insurance Claims Could Exceed $100M September 8, 2023 By Richard Frost Hong Kong’s heaviest rainstorm since records began in 1884 flooded the financial hub’s streets and sent torrents of water rushing...
CelsiusPro Buys UK’s Global Parametrics to Strengthen Climate, Nat Cat Risk Solutions September 7, 2023 CelsiusPro AG, the Zurich-based parametric insurance managing general agent, announced the acquisition of Global Parametrics Holding Co. Ltd. CelsiusPro said...
Global Fears Are Feeding Demand for Lloyd’s of London Insurance, CEO Says September 7, 2023 By Loukia Gyftopoulou Growing fears about the state of the world are pushing more people to take out insurance even as prices rise,...
ACORD Releases Data Messaging Standard to Support London-Market Modernization September 7, 2023 ACORD, the standards-setting body for the global insurance industry, announced the publication of the ACORD GRLC Contract, Risk, and Pre-Accounting...