Editorial Team

Dunn launches Australian brokerage Domo Insurance

Former Tysers executive William Dunn has launched independent brokerage Domo Insurance serving the Australian market.

Ariel Re partners with Hiscox Re & ILS on CyberShock catastrophe consortium

Ariel Re has partnered with Hiscox Re & ILS to launch CyberShock, a consortium offering cyber insurers up to $50mn of capacity per-program for event-based catastrophe reinsurance protection.

Taiwan earthquake losses in the “hundreds of millions”: Aon

Economic losses from the Taiwan earthquake have a high potential to reach into the “hundreds of millions” of dollars, with the event likely to result in a notable event for the local insurance industry, according to Aon.

Windward confirms launch of new FL exchange Ovation Home

Windward Risk Managers has added another carrier platform to its roster with the launch of Ovation Home Insurance Exchange, a Florida-domiciled reciprocal insurer set to start underwriting in June and which anticipates building its book in part through future Citizens assumptions.

Multifamily-focused MGA Sertis raises $3.2mn in seed funding round

Insurtech Sertis has raised $3.2mn in what it described as an “oversubscribed seed funding round” which the multifamily housing-focused MGA said is a “key step” in its mission to deliver tailored insurance solutions to professional property managers.

Doxa expands in entertainment and leisure with International Hole In One deal

Doxa Insurance has made a move into several new entertainment and leisure markets following the acquisition of the International Hole In One Association’s (IHIOA) suite of companies.

Scor unveils regional restructure for global P&C and L&H units

Scor has restructured the regional and business structure for its property and casualty (P&C) and life and health (L&H) units, with its global P&C teams now reporting into SCOR P&C CEO, Jean-Paul Conoscente.

Perils pegs insured losses from Australian Christmas storms at A$1.395bn

Perils has issued an initial loss estimate of A$1.395bn for the storms which impacted the Australian states of Victoria, New South Wales, and Queensland between 23 and 29 December 2023.

TMHCCI adds Scor’s Hannay to lead London-based power portfolio

Tokio Marine HCC International has launched a new power offering with the appointment of Nicola Hannay as head of power generation within its London-based energy practice.

WTW unveils $20mn primary cyber and tech E&O facility for international clients

WTW has launched a primary cyber and tech E&O facility, designed to provide increased limits for international clients headquartered outside of GB and US.

Japan quake insured losses likely to be small: Fitch

Insured losses from the magnitude 7.6 New Year’s Day earthquake in Japan’s Noto Peninsula are likely to be small, with no major impact on Japanese non-life insurers’ earnings, according to Fitch Ratings.

2023 non-US cat loss tally totals $16.7bn: CRESTA

The CRESTA Industry Loss Index (CLIX) saw its international non-US loss tally total $16.7bn in 2023, marginally below the 2023-adjusted annual average of $17.1bn.

Australia Christmas storm claims top 37,000: ICA

Australian insurers have now received 37,076 claims related to the Christmas storms that struck Queensland, New South Wales and Victoria between 23 and 26 December, according to the Insurance Council of Australia (ICA).

Australian Christmas storms claims rise above 18,000: ICA

Australian insurers have received 18,194 claims related to the Christmas storms that struck Queensland, New South Wales and Victoria between 23 and 26 December, according to the Insurance Council of Australia (ICA).

Tokio Marine Holdings’ managing executive officer O’Leary to exit

Tokio Marine Holdings’ managing executive officer Robert O’Leary has resigned from the business.

IAG upgraded to AA by S&P

S&P has raised the long-term financial strength and issuer credit ratings it holds for IAG’s core entities to AA from AA-.

Tokio Marine North American profits grow 21% in H1

Tokio Marine’s North American operations grew profits by 21 percent to ¥170.2bn during the first half of the 2023 financial year, helping drive a ¥209.7bn profit across the Japanese insurer’s international non-life businesses.

IRB Brasil Re Q3 combined ratio sees 44.7% YoY improvement

IRB Brasil Re has reported a 114.4 percent combined ratio for the third quarter of 2023, a 44.7 percentage point improvement on the prior-year period.

Chaucer’s nuclear Syndicate 1176 poised to launch new BI cover

The niche but highly profitable nuclear Syndicate 1176 is poised to add business interruption to its coverage next year in one of the most significant shifts in its business mix for a number of years, The Insurer can reveal.

ABI calls for IPT reduction as motor premiums rise 29% YoY

The Association of British Insurers (ABI) has called on the government to mitigate the effect of inflation on motor premiums through a reduction in insurance premium tax (IPT).

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