AM Best Affirms Credit Ratings of SiriusPoint Ltd. and Its Subsidiaries
: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of the rated operating subsidiaries of SiriusPoint Ltd. (SiriusPoint) (Bermuda) ...
Date: April 26, 2024
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Net Zero Panel Replaced by UN's Forum for Insurance Transition to Net Zero
: The United Nations has convened a new forum to drive progress on the insurance industry's transition to net-zero carbon emissions after a number of carriers withdrew from an earlier incarnation amid opposition from U.S. polit...
Date: April 25, 2024
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Ariel Re, Hiscox Re & ILS Launch Event-Based Cyber Catastrophe Consortium
: Specialty reinsurer Ariel Re and Hiscox Re & ILS launched CyberShock, a cyber catastrophe consortium offering up to $50 million of per-program capacity that provides tailored, event-based protection for cyber insurers worldwi...
Date: April 25, 2024
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AM Best Affirms Credit Ratings of The Cigna Group and Its Subsidiaries
: AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a+” (Excellent) of the key U.S. life/health subsidiaries and Europe-based insurance compan...
Date: April 25, 2024
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AM Best to Sponsor and Participate in The Insurer’s Program Manager Conference & Awards Event
: AM Best Senior Director Greg Williams will participate in a panel discussion on market conditions in the fronting carrier segment during The Insurer’s upcoming Program Manager Conference & Awards event in New York, NY. The ev...
Date: April 25, 2024
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Best’s Market Segment Report: Underwriting Conditions for UAE Insurers on Track to Improve Amid IFRS 17 Transition
: Measures put in place by the United Arab Emirates (UAE) insurance regulator, the Central Bank of the UAE, during 2023 and in early 2024 should ameliorate the relatively poor performance of personal lines insurance and support...
Date: April 25, 2024
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Zurich UK Announces Partnership With Managing General Agent Freedom Services
: Zurich UK has formed a partnership with managing general agent Freedom Services to grow in the commercial van and telematics sectors.
The five-year partnership will provide motor products via brokers and customer services...
Date: April 24, 2024
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Arch Insurance International Appoints Deputy CEO
: Arch Insurance International has appointed Kirsten Valder as deputy chief executive officer of Arch Insurance International, effective immediately.
Valder will be responsible for supporting the continued development and ...
Date: April 23, 2024
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April Edition of Best’s Review Ranks Largest Asia-Pacific Insurers
: The April edition of Best’s Review includes the following exclusive rankings:
Largest Asia-Pacific Insurers – 2024 Edition
The previous month’s edition included the following rankings:
Top 20 P/C Managing Gener...
Date: April 23, 2024
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AM Best Affirms Credit Ratings of Universal Insurance Company (Guernsey) Limited
: AM Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” (Fair) of Universal Insurance Company (Guernsey) Limited (UIC) (Guernsey). The outlook of these Credit Ratings (rat...
Date: April 23, 2024
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Munich Re Beats Expectations With Estimated $2.24 Billion First-Quarter Profit
: Munich Reinsurance Co. reported a preliminary first-quarter net profit of about €2.1 billion ($2.24 billion) in the first quarter, ahead of expectations.
Operational performance in all lines of business is better than exp...
Date: April 23, 2024
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Fundamental Global CEO: Subsidiary Sale Will Boost Reinsurance Capital
: Fundamental Global Inc. is redeploying capital into businesses including FG Reinsurance following the sale of subsidiary Digital Ignition and its associated building for $6.5 million, said Chairman and Chief Executive Office...
Date: April 22, 2024
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Applied Underwriters' United Risk Names Awbury, RenRe Exec as CFO
: Dan Malloy, chief executive officer, United Risk, a division of Applied Underwriters, has announced the appointment of Jay Cahill to the post of chief financial officer, effective May 1.
Cahill has worked in reinsurance...
Date: April 22, 2024
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Perils Raises Insured Loss Estimate to $735.5 Million for European Storm Babet
: Perils AG further raised its insured loss estimate for European storm system Babet (Viktor) to €691 million ($735.5 million).
The floods and storms from the low pressure system, also known as Aline (Wolfgang), hit the Bri...
Date: April 22, 2024
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AM Best to Speak, Sponsor and Exhibit at Dubai World Insurance Congress 2024
: AM Best will join a series of roundtable sessions, as well as sponsor and exhibit, at the annual Dubai World Insurance Congress, which will take place 29-30 April 2024, in Dubai.
Roundtable discussions with participation fr...
Date: April 22, 2024
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Best's Market Segment Report: AM Best Revises Outlook on London Market Insurance Segment to Positive
: AM Best is revising its outlook on the London market insurance segment to positive from stable.
In its new Best’s Market Segment Report, “Market Segment Outlook: London Market Insurance”, AM Best notes strong pricing enviro...
Date: April 22, 2024
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Legacy Specialist Darag Acquires Cayman-Based Liability Captive
: Legacy acquirer Darag Insurance Guernsey Ltd. said it signed a sale and purchase agreement to acquire a Cayman Islands-based insurance and reinsurance captive.
The deal is subject to regulatory approval from the Cayman Is...
Date: April 19, 2024
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Generali Approves New Organizational Structure
: The board of directors of Generali said it has approved a new organizational structure to reflect the group’s main activities, as proposed by Philippe Donnet, group chief executive officer.
Starting from June 1, the Gener...
Date: April 18, 2024
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MGA Macquarie Insurance Facility Gets Approval as Lloyd's Coverholder in Expansion
: Managing general agent Macquarie Insurance Facility has been approved as a Lloyd's coverholder and will partner with Mosaic Insurance to write transactional liability coverage, it said in a statement.
A Lloyd's coverholde...
Date: April 18, 2024
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Munich Re Names Execs to Strengthen Local P/C Underwriting in Asia-Pacific & Africa
: Munich Re made changes to its in-market underwriting leadership capability in Asia-Pacific, Middle East and Africa and named Hitesh Kotak as chief executive for Japan, India, Korea and South-East Asia.
Kotak has been res...
Date: April 18, 2024
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