Indonesia and Singapore set to introduce QR code payments
The central banks of Singapore and Indonesia are planning to introduce the use of QR codes for cross-border payments between the two countries.
Lockton appoints Chris DiLullo as US Industry Practices Leader
Independent insurance broker Lockton has announced the appointment of Chris DiLullo as its first U.S. Industry Practices Leader.
Hannover Re: 2023 operating result hit by “significantly higher” Q4 reserving
Global reinsurance firm Hannover Re has warned that when it reports its full-year 2023 results, its operating result for the year will be impacted by a resiliency reserve that has been set “significantly higher” than forecast in the fourth-quarter.
Ryan Specialty opens office in Madrid
Ryan Specialty has opened an office in Madrid, focusing on the core transactional risk products of warranty and indemnity insurance and commercial tax liability insurance, servicing brokers across continental Europe.
Uber challenge to California contractor law revived
Employment Practices, Risk Management, Workers Comp Coverage
Robinhood to buy Canadian crypto player WonderFi
American trading app Robinhood is buying WonderFi, the Canadian crypto operator of Bitbuy and Coinsquare, for around C$250 million in cash.
US cyber liability market continues growth trend
Direct premiums written in the US cyber liability market continued to grow in 2021, seeing a 75% increase, far outpacing that of the overall property/casualty insurance industry.
Vitesse continues US expansion with Vitesse Trust launch in New York
Vitesse, a global treasury and payment provider for the insurance industry, has officially launched its United States operations with the establishment of New York-based Vitesse Trust Company, LLC.
Funded reinsurance and offshore financing a concern for the PRA
The Bank of England (BoE) is hardening its approach on the use of funded reinsurance and offshore financing by UK life insurers, aiming to balance innovation with financial stability as the bulk purchase annuity (BPA) market continues its rapid expansion.
Zurich appoints new CFO of commercial insurance in Sarah Maillet
Zurich has a new CFO of commercial insurance in Sarah Maillet, who takes up the role at the beginning of June.
Swiss Re delivers solid 9M’24 net income as P&C underwriting result more than offsets reserve strengthening
Global reinsurer Swiss Re generated a net income of $2.2 billion and $102 million for the first nine months and third quarter of 2024, respectively, despite the previously announced addition of $2.4 billion to its prior year US liability reserves.
Hamilton reports Q3’24 CoR of 93.6% with an underwriting income of $29.1m
Bermuda-domiciled re/insurer Hamilton Insurance Group has reported a slightly increased combined ratio of 93.6%, with an underwriting income of $29.1 million for the third quarter of 2024.