Specialist insurance provider, CFC has announced the launch of a new comprehensive insurance solution which will provide coverage for technology and cyber risks faced by tech businesses with revenues exceeding $250 million. This new product, designed for mid-size to multinational tech companies, will cover costs associated with delays, mistakes, oversights and miscommunication along with other […]
S&P Global Ratings, a provider of credit ratings, research, and analytics, maintains a stable outlook on the global cyber insurance and reinsurance industry, supported by solid underwriting profitability in 2023 and 2024, with expectations for this trend to continue into 2025. The industry’s stability is further reinforced by substantial increases in cyber insurance rates and […]
Neil Clutterbuck has been appointed as the Chair of Pen Underwriting and an Independent Non-Executive Director of Arthur J Gallagher Holdings (UK) Limited, subject to regulatory approval. Clutterbuck brings a wealth of experience to his new position, having spent nearly two decades at Allianz in various senior management and executive roles. With three decades in […]
Australian insurer QBE has appointed Jamie Kelly as its Group Chief Compliance Officer, following Ed Rainsford’s recent transition to the role of Chief Risk Officer, AUSPAC. In the new role, Kelly reports to Fiona Larnach, the Group’s Chief Risk Officer. Kelly brings enterprise knowledge gained through most recently serving as the Interim Executive/Group Head of […]
Independent specialist re/insurance broker Miller, has appointed Guy Pierpoint to its Marine team in a leadership role which will see him focus on business development. Pierpoint joined the broker at the beginning of the month, bringing almost four decades of experience in Marine insurance across the London and international markets. At Miller, he reports to Jake […]
Direct Line has unanimously rejected Aviva’s £3.28 billion ($4.16 billion) 100% acquisition proposal, stating that it does not adequately reflect the firm’s standalone value, describing the offer as “highly opportunistic” and not in line with its long-term potential. In a recent announcement, Aviva confirmed that it made a 250-pence-per-share offer on the 19th of November, […]
Root, an end-to-end digital insurance platform, has announced the launch of a certified developer community programme that aims to enhance scalability, efficiency, and cost-effectiveness. The programme has been designed to support in-house developers at insurance businesses, directly addressing the pressing need to upskill coders, giving them the opportunity to become Root Certified Engineers and be […]
The UK P&I Club, a provider of protection and indemnity insurance to the global shipping industry, has announced the appointment of Richard Offord as Chief Executive of its Singapore Branch, effective 1 December 2024. Offord succeeds Yiah Soon Ng (YS), who is retiring after more than 27 years of leadership at the Singapore office. He […]
Global credit ratings agency AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Fed Re Ltd. (Fed Re) (Bermuda), with a stable outlook. According to AM Best, the ratings reflect Fed Re’s balance sheet strength, which the agency assesses as strong. The agency also […]
Goldman Sachs, a global investment banking, securities, and investment management firm, has analysed the current pricing trends across the UK’s property and casualty (P&C) insurance sector, suggesting that profitable growth opportunities will remain abundant in 2025, despite moderating price momentum seen in 2024. According to analysts, the evolution of price momentum remains a key investment […]
