Insurer Suncorp has entered a multi-year agreement with Duck Creek, a provider of software solutions for property and casualty (P&C) and general insurance, to aid in its ongoing journey of technology modernisation and process simplification.
US domiciled mutual life insurer, New York Life has announced that Craig DeSanto has taken over as the company’s Chief Executive Officer (CEO).
Aventum, an international re/insurance group, has just announced the promotion of Phil Wood to the role of Chief Partnerships Officer, where he will oversee and support the development of new consumer partnerships and Synergy divisions within Aventum.
Big data could be used by insurers to further refine classes of risk and determine better pricing and availability of insurance coverage to ensure a better match for policy owners, according to the Canadian Institute of Actuaries (CIA).
Liberty Mutual Insurance has completed its acquisition of Malaysian insurer AmGeneral, following regulatory approval and signing a purchase and sale agreement with AmBank.
Coverage Disputes, Cyber Risks, Emerging Risks, Technology
CyberCube, a provider of cyber risk analytics for the insurance industry, has released new research showing how diversification and mitigation strategies can materially reduce exposure to catastrophic cyber events.
The reinsurance industry should expect to see fairly stable conditions at the upcoming January 1st reinsurance renewals, with property catastrophe reinsurance pricing anticipated to be somewhere close to flat due to losses from recent hurricanes Helene and Milton not developing as adversely as original forecasts from cat modelers, according to analysts at RBC Capital Markets.
Global broking firm WTW, has announced a strategic co-brokerage arrangement with the Solomon Agency Corporation aimed at enhancing insurance brokerage and risk management services for companies headquartered in South Korea and Vietnam, operating in North America.
Asbestos & Environmental, Emerging Risks, Energy, Risk Management
According to analysts at Fitch Ratings, changes to reinsurance-related capital requirements proposed by the Australian Prudential Regulation Authority (APRA) could wind up supporting Australian general insurers’ credit profiles over the medium term if they improve access to reinsurance protection.
AM Best has revised its Long-Term Issuer Credit Rating (Long-Term ICR) to stable from negative for Kenya Reinsurance Corporation Limited (Kenya Re).
Managing general agent (MGA) Optio Group has completed the acquisition of Netherlands and Brussels based MGA Den Hartigh Beheer & Exploitatie B.V., a specialist in B2B insurance solutions.
DUAL UK, part of the specialist underwriting arm of Howden Group, has named Catherine Dixon as Chief Underwriting Officer (CUO) and Rob Corner as the Chief Distribution Officer.
Agents and Brokers, Risk Management USI Insurance Services