Cyber insurance is a market with enormous growth potential – but one that also has the potential to become a costly, worldwide event in a matter of seconds. Unlike natural catastrophes, cyber isn’t limited to geographic regions. It’s a risk …
Many reinsurance executives have been left scratching their heads in surprise after last year’s natural catastrophes, which cost a whopping $100 billion but ended up having very little impact on rates. The insurance and reinsurance market isn’t behaving as it …
Lloyd’s reported a return to profits during the first half, in a welcome recovery after its big losses of 2017. Pre-tax profits during the half were £600 million ($793.1 million), compared to £1.2 billion ($1.6 billion) in the first six …
When PartnerRe acquired SAFR in 1997, it expanded its scope of business, moving quickly from being a monoline catastrophe reinsurer to a multiline company. Along with that purchase came PartnerRe’s future CEO, Emmanuel Clarke, who began his career at SAFR …
From Electronic Placing to Artificial Intelligence: Lloyd’s America CEO Earlier this year, this reporter was walking on Lime Street, the home of Lloyd’s of London, dodging raindrops. She observed a broker, carrying a large blue binder containing documents for an …
During PartnerRe’s first 25 years as a reinsurer, everything has changed and nothing has changed. From its roots as a pure catastrophe player, PartnerRe has dramatically evolved–or diversified–over the years. PartnerRe was one of the new breed of catastrophe reinsurers …
The industry’s Blockchain Insurance Industry Initiative (B3i) announced a year ago it had developed a reinsurance blockchain prototype for a property excess-of-loss (XOL) contract and asked the industry to help test it. The initial results are in. Months of testing …
Insurtech is often touted as the cure that will solve the insurance industry’s inefficient and antiquated processes – from distribution, to underwriting, to claims. While many insurers want to investigate the benefits of insurtech partnerships, most don’t have the first …
Although cyber risk premiums have expanded sizably in recent years with loss ratios that compare favorably to other product lines, the danger of accumulation risks is a key concern for the market, according to a study released by insurance industry …
Venture capital firm Beat Capital Partners and insurance investment vehicle Paraline UK announced they plan to merge – in a move that is designed “to enhance and further build Beat’s platform to support independent underwriting businesses.” As a result of …
