Reinsurance News

According to a recent poll from Reinsurance News, artificial intelligence (AI) is anticipated to have the least impact in customer service, whilst nearly half of industry respondents believe that AI will have the biggest impact in risk modelling & analysis. #insurance #reinsurance

By conducting risk assessments insurers can help businesses in the Asian marine industry to understand their existing operations and ways in which they can reduce claims as they navigate a sector full of challenges, QBE Insurance analysts state.

AnaCap, a private equity investor specialising in collaborations with founders and entrepreneurial management teams across services, technology, and software in the European financial sector, has entered into exclusive negotiations to acquire CLEVA Insurance Software from Inetum Group.

Everest Insurance has announced the appointments of François-Xavier d’Huart as Head of France and Europe Strategic Projects and Anne Charon as Head of Client Engagement, Europe for Everest Insurance International, in a move that expands the firm’s European footprint.

Munich Re’s Risk Management Partners is teaming with CGI, the business and IT consulting services firm, in a move that is set to help insurers reduce claims, increase profits, and drive long-term value through climate risk mitigation.

Specialist global insurer Hiscox has announced the appointment of The Hon. Curtis L. Dickinson JP, MP as a Non Executive Director for its subsidiary Hiscox Insurance Company (Bermuda) Limited (HIB), subject to regulatory approval.

The June 1 and July 1, 2024, reinsurance renewals revealed sufficient capacity to meet increased demand, with an additional $5 billion available for US insurers covering catastrophe-exposed properties compared to last year, according to insurance and reinsurance broker Aon.

As generative AI continues to be adopted across the re/insurance sector, it is becoming more clear that the technology will be truly transformative for the industry. However, it appears that there is still a lot of foundational work that needs to be done, according to advisory firm, Oxbow Partners.

Reinsurance broker Guy Carpenter’s mid-year reinsurance renewal report reveals that some upper layers of property placements saw risk-adjusted decreases of 10% or more for accounts without loss impacts.

WTW, an advisory, broking, and solutions firm, has named Aon’s James Baum as the Head of Australia and New Zealand and the Head of Corporate Risk & Broking (CRB) for these regions, starting on July 15.