Sompo, a subsidiary of the company responsible for the insurance and reinsurance operations of Sompo Holdings Group outside of Japan, has announced its partnership with Palantir Technologies Inc., a vendor of artificial intelligence (AI) systems. With this initiative, Sompo will leverage Palantir’s data integration and AI solution – which the insurer will invest on over […]

Analysts at Morningstar DBRS predict that the total insured losses from the recent UK riots will be manageable for British insurers, estimating that they will remain below £250 million. The impact on the insurance industry is expected to be limited, as claims under £1 million per property can be covered by local police authorities under […]

Insurance brokerage firm, Brown & Brown has announced the appointment of Stephen P. Hearn to its board of directors. H. Palmer Proctor, Jr., Brown & Brown’s lead independent director and chair of the Nominating/Corporate Governance Committee of Brown & Brown’s board of directors, said: “Steve has established himself as a fixture in the London insurance […]

After taking a $1 billion slice in 2023, it’s notable that Berkshire Hathaway did not participate in Florida Citizens Property Insurance Corporation’s 2024 catastrophe reinsurance renewal, which was dominated by Bermuda-based and collateralised reinsurers. As we reported previously, Florida’s property insurer of last resort secured a cost-effective risk transfer program of approximately $3.564 billion at […]