Article 0 Comments Two weeks after South Carolina’s insurance regulator took steps to place Atlantic Coast Life Insurance into rehabilitation, another state’s commissioner has suspended the company amid concerns about its finances. “In making...
Article 0 Comments Pine Walk, the specialist MGA platform of The Fidelis Partnership (TFP), announced the launch of Adroit Underwriting Ltd., a Bermuda-based managing general agent that is focused on US small-and-medium enterprise (SME)...
Article 0 Comments The U.S. has maintained a blockade of Iranian ports, while Iran lifted and then reimposed its own blockade on marine traffic passing through the Strait of Hormuz, which typically handles roughly...
Article 0 Comments Shipowners are placing “huge volume requests” for insurance cover as they look to transit the Strait of Hormuz following the US-Iran ceasefire deal, according to broker McGill and Partners. With the...
Article 0 Comments Reinsurance rates continued to soften during the April 1 renewals despite the unstable geopolitical landscape and uncertain economic outlook, according to major reinsurance brokers. “The orderly completion of the renewal, with...
Article 0 Comments Germania Insurance announced the placement of its first catastrophe bond, issued through Handshake ReLtd., as part of the company’s broader reinsurance and capital management strategy. The transaction became effective Jan. 1,...
Article 0 Comments QBE Insurance Group announced it has closed a new catastrophe bond, which provides the re/insurer with $400 million of collateralized reinsurance cover for named storms and earthquakes in the US and...
Article 0 Comments Investors in Jamaica’s catastrophe bond now face a 100% payout after Hurricane Melissa set off a full trigger event, according to the World Bank. Jamaica’s $150 million cat bond, which was...
Article 0 Comments The wreckage caused by Hurricane Melissa in Jamaica is expected to cost insurers $1 billion to $3 billion, according to property intelligence company Cotality. The insured losses are a fraction of...
Article 0 Comments Europe’s four largest reinsurers – Swiss Re, Munich Re, Hannover Re and SCOR – are maintaining their appetite for property-catastrophe risks as well as their ambitious profit targets for 2025 –...
