The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, and KazakhExport, the Export Credit Agency of the Republic of Kazakhstan, have renewed their Quota Share Treaty Reinsurance Agreement.

Property and casualty insurance holding company United (UPC Insurance) has reported a net loss of $33.1 million for the first quarter of 2022, compared to a loss of $17.8 million for the same period last year.

According to Mitali Chatterjee, Insurance Research Manager at Swiss Re, the global reinsurer, climate change is intensifying severe weather events worldwide, significantly impacting the electric grid, emphasising the need of insurance in funding adaptation efforts and enhancing infrastructure resilience.

Digital risk processing platform Cytora has entered into a partnership with data intelligence platform Dataplor, which will enable property insurance underwriters to gain access to a wide range of location data via Cytora’s platform.

Specialist insurance provider, CFC, has hired Jason Hart as Head of Proactive Cyber, where he will be responsible for leading the continued development of CFC’s cyber threat analysis, vulnerability and threat detection service.

At the ongoing Disaster Risk Finance (DRF) Workshop in Nadi, the Pacific Catastrophe Risk Insurance Company (PCRIC), a regional initiative focused on providing insurance solutions for disaster risks, engaged in discussions with the Asian Development Bank (ADB), a leading institution supporting economic growth and cooperation in the Asia-Pacific region.

Global insurer American International Group (AIG), Inc. has appointed Ray Hall as Head of Western World, effective immediately, based in Scottsdale, Arizona.