Insurance broker WTW reported its acquisition of Butterwire, a provider of data analytics, artificial intelligence and machine learning platforms. Based in Glasgow, Scotland, the financial analytics company will become a part of WTW’s Climate and Resilience Hub. Terms were not …
A sudden jump in carbon prices coupled with floods and droughts this year would lead to losses of at least 70 billion euros ($71.1 billion) for the euro zone’s largest banks, the European Central Bank said on Friday. The ECB …
The UK’s accounting watchdog is proposing new rules for insurance companies to make sure actuaries factor in climate change risk. “As the importance of climate change risks continues to grow it is critical that actuaries consider these risks in the …
Insurance broker WTW has enhanced the capability of its Climate Diagnostic tool, which was first launched in April 2021. In response to an increase in Task Force on Climate-Related Financial Disclosures (TCFD) reporting and the ever-growing need for transparency, WTW …
The world’s biggest insurers are expanding in Africa, looking to tap growth promised by a rising population and middle class, but climate change could complicate their quest for profits. With Western markets overcrowded, the continent provides a rare chance to …
Insurers need to plug data gaps to be better prepared for the impact of climate change on their operations and further work may be needed on how much capital they should hold, the Bank of England (BoE) said on Wednesday. …
A Canadian financial regulator released draft guidelines on Thursday to mitigate the risks of climate change as the country’s financial institutions prepare for mandatory disclosures starting in 2024. The guidelines, issued by the Office of the Superintendent of Financial Institutions …
DAVOS, Switzerland – Financial firms already struggling with climate-compliance due to unclear measurement metrics will soon face new disclosure requirements for biodiversity, or nature-related, investments. “Nature is a financial risk for business,” Elizabeth Mrema, co-chair of the Taskforce on Nature-related …
This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance (BHSI), Marsh and MS Amlin Underwriting Ltd. A summary of these new hires follows here. BHSI Promotes Alder-Smurthwaite, Emson to UK Casualty Team Berkshire Hathaway Specialty Insurance …
Descartes Underwriting, the insurtech company that specializes in parametric natural catastrophe products, has announced a $120 million Series B funding round. Growth equity firm Highland Europe is leading the capital-raise alongside international investment company Eurazeo, with participation of existing investors …
