Fitch Ratings has noted that the Los Angeles wildfires will cause certain catastrophe bonds to experience partial principal losses, though these are not anticipated to impede issuance.

Reinsurance broker Gallagher Re has appointed Satoshi Yamazaki, who has worked in reinsurance hubs in London, Bermuda, Zurich, and Singapore, as a Senior Manager, based in Tokyo.

Confianza, Inc., a provider of data analytics and machine learning to insurance agents, brokers, and carriers in the US, has announced the first close of its seed funding round, led by Sandbox Insurtech Ventures.

Norway, through the Norwegian Agency for Development Cooperation, has provided NOK 50 million (approximately $4.5 million) to the African Risk Capacity Limited’s (ARC Ltd) Supporting Adaptation Capacity Through Increased Parametric Insurance Penetration in Africa (SACPIP-Africa) initiative.

Alta Signa, the European boutique managing general agent (MGA), has launched a new European Marine underwriting business, which is set to focus on core marine lines of business, backed by the firm’s panel of insurance partners – Axeria IARD, SiriusPoint and Sompo International.

QBE has announced the appointment of Andy Fitzgerald as Director, UK Regions.

Bermuda-based re/insurer Arch Capital Group Ltd. has reported a Q4 2023 combined ratio of 78.9% compared with 73.5% a year earlier as catastrophe losses increased, although underwriting income in both its insurance and reinsurance segments strengthened year-on-year.

Underwriting discipline persists for marine cargo insurance while underwriting for hull and liability remains demanding, according to the latest market update by WTW.