Florida-based American Coastal Insurance Corporation (ACIC) has renewed its catastrophe excess of loss agreement (AOP CAT agreement), which provides up to $90 million in per-occurrence coverage above a $10 million attachment point, and has also secured $40 million in aggregate catastrophe limit at the January renewals.
Indian fintech giant Cred is to move into the wealth management market with the acquisition of mutual fund and stock investment platform Kuvera.
Banking co-operative Swift is rolling out an AI-powered anomaly detection service to help banks proactively detect and defend against potential financial crime.
Agents and Brokers, Catastrophes, Disaster Management, Emerging Risks, P/C Insurers
European Union policymakers are debating whether to launch the digital euro on public blockchains as they accelerate work on the CBDC in response to the passage of the Genius Act in the US and fears that it could see dollar-baked stablecoins dominate cross-border payments, according to the Financial Times.
Reinsurance broker Gallagher Re has estimated that preliminary total insured losses for Q1’25 totalled at least $56 billion, marking the costliest first quarter for the private insurance market and government-sponsored insurance entities since 2011, and 176% higher than the Q1 decadal average of $20 billion (2015–2024).
Saudi Reinsurance Company’s (Saudi Re) Board of Directors has approved a capital increase through the issuance of 53.98 million new shares, raising its capital by 46.6% to SAR 1.7 billion to strengthen the reinsurer’s capital base and support growth.
Auto lenders and dealers are adapting their strategies in the face of an onslaught of new trade policies and recent…
Cytora, a digital risk processing platform, has entered into a partnership with a provider of property valuation solutions, e2Value, to give commercial underwriters new insights into risks by integrating e2Value’s data directly into Cytora’s risk processing platform.
Cyber Risks Arthur J. Gallagher & Co.
Agents and Brokers, Auto liability, Cyber Risks, D&O, P/C Insurers, P/C Pricing, Property, Reinsurance Berkshire Hathaway, Everest Re, Willis Towers Watson, Zurich
