VDE Americas, a provider of technical advisory and risk mitigation for the solar power industry, has partnered with climate insurance provider kWh Analytics to launch a new assessment form that evaluates solar site hail vulnerability and protective measures. The insurance industry has been driven to adopt resilience measures due to the multiple, high-profile hail losses […]
Zurich-domiciled catastrophe insurance data provider, PERILS, has upped the industry loss in its second estimate for extratropical windstorm “Éowyn”, also known as “Gilles”, at €696 million from €619 million in March. The loss estimate covers the property lines of business and is based on loss data collected from affected insurers. The storm generated very strong […]
Bermuda-domiciled global re/insurer for energy markets, Everen Specialty, has appointed Carla Greaves as its Chief Underwriting Officer (CUO). She succeeds Jane Peterson, Interim CUO, who will continue in a consultancy capacity to facilitate the transition. Additionally, Greaves will join the re/insurer’s executive leadership team, also based in the Bermuda office, later this year. She is […]
ARC Ltd and Klapton Re have signed a Memorandum of Understanding (MoU) to establish a new partnership aimed at strengthening climate risk protection across Africa. Under the MoU, the two firms will reportedly co-develop and roll out new insurance products tailored to the needs of farmers and low-income families, enabling them to recover more quickly […]
Chaucer Group, the specialty re/insurance business, has announced the appointments of Emma Brown and Andy Cleair as Class Underwriters within its International Property division. Both are based in London and report directly to Mel Smart, Head of International Property Fac. In their new roles, Brown and Cleair will work closely with Smart to help expand […]
Trium Cyber, the authorised service company for Syndicate 1322 at Lloyd’s, has developed in collaboration with HITRUST, an innovative approach to more accurately quantify risk by combining actuarial science with third-party security certification. Thanks to this collaboration, Trium will be able to provide greater cyber coverage at lower cost, the firm noted. Using its new […]
AM Best has revised the outlook of SiriusPoint’s rated operating subsidiaries to positive from stable, citing the firm’s consolidated balance sheet strength, operating performance, neutral business profile, and appropriate enterprise risk management. The rating agency explained that revising the outlook to positive from stable reflects SiriusPoint’s improved balance sheet strength following management actions, including derisking […]
A recent survey by the Lloyd’s Market Association (LMA) found that 40% of London market firms are actively using AI tools in some areas or have even widely integrated them into their workflows; however, AI adoption still faces significant barriers. The LMA recently hosted a seminar on the use of AI within the London specialty […]
Ping An Insurance Company of China has announced its first quarter financial results, reporting that its property & casualty (P&C) segment maintained steady insurance business growth and good business quality. The P&C sector demonstrated a strong performance, with premium income increasing by 7.7% year-on-year to RMB 85.138 billion. Insurance revenue also saw a positive uptick, […]
Duck Creek Technologies, a provider of software solutions for property and casualty (P&C) and general insurance, has announced the appointment of General Daniel Hokanson, USA, Ret. to the company’s board of directors. Hokanson, a retired 4-Star General, served as a member of the Joint Chiefs of Staff and the 29th Chief of the National Guard […]
