Great American Insurance Group adds Laura A. True to Cyber Risk Division
Property and casualty insurance, Great American Insurance Group has announced the appointment of Laura A. True as Divisional Vice President of its Cyber Risk Division.
CPS saves over $1M in potential fraud exposure in Q1
Consumer Portfolio Services launched an AI fraud tool in the first quarter that saved the company over $1 million tied…
Brokers urge industry collaboration to close non-standard insurance protection gap
With surging demand for non-standard insurance, brokers are urging industry collaboration, warning that the gap in coverage is widening, according to a recent survey by Prestige Underwriting.
Arch Capital-led group in $500M bid for reinsurer Watford: Sources
Mergers and Acquisitions, Reinsurance, Risk Management Bermuda
RenRe reports strong underwriting performance in 2023 with CR of 77.9%
Bermuda-based reinsurer RenaissanceRe (RenRe) has reported a stronger combined ratio of 76% and 77.9% for the fourth quarter and full year 2023, respectively, as the firm’s underwriting and investment income improved for both periods.
Regulatory changes could prompt biodiversity litigation
Asbestos & Environmental, Current Issue, D&O, Regulation Brazil, European Union
Commercial real estate risks still emerging, especially in the office segment, Moody’s
Commercial real estate (CRE) remains a large exposure for US life insurers, which hold over $900 billion in CRE, or roughly 17% of total invested assets, mostly in commercial mortgage loans (CMLs) and commercial mortgage backed securities (CMBS), however in the past few years, weak spots have begun to emerge across the sector, a new report from Moody’s says.
Steenbergen appointed member of AXA’s Board of Directors to replace Duan
Ewout Steenbergen, current Executive Vice President and Chief Financial Officer of Booking Holdings Inc., has been appointed as a member of AXA’s Board of Directors to replace Rachel Duan as she intends to resign from her directorship at the end of the year.
G20 TechSprint Initiative invites firm to tackle regulatory challenges
The Saudi G20 Presidency and the Bank for International Settlements (BIS) Innovation Hub are launching a virtual hackathon-style competition to find new technological ways to tackle financial regulatory compliance and supervision challenges.
Global banks turning to fintechs to boost customer experience – research
Three-in-four global banks are planning to connect with an average of three fintech startups over the next eighteen months to boost their digitsation efforts, according to research conducted by East & Partners on behalf of Finastra.
Euroclear and Digital Asset team on tokenised collateral mobility
Post trade body Euroclear and blockchain firm Digital Asset have launched the first phase of the tokenised collateral mobility initiative for the Canton Global Collateral Network (GCN).
Huntington Bank auto originations up 4% as regional results mixed
Regional banks’ third-quarter earnings results were mixed in terms of auto portfolio growth and credit performance. Huntington Bank auto originations…
ECB exec savages banks over climate risk inertia
A European Central bank executive has launched a withering attack on the lack of progress by banks in tackling climate risks.
Overdue bills are rising with US debt delinquencies, Fed survey shows
US household debt has reached a record and more borrowers are struggling to keep up. . Overall US household debt…