Those fighting cybercrime and those who insure against it must perpetually race to keep up with the new tech, strategies, methods and goals thrown at them by nefarious actors working from all over the world. After significant compound rate increases …
Pool Re, Britain’s government-backed terrorism reinsurer, has completed placement of a new retrocession programme with more than 60 international reinsurers. The placement provides £2.75 billion ($3.5 billion) aggregate excess of loss cover, increased from £2.4 billion ($3.0 billion), with Hannover …
Reinsurance buyers generally found ample capacity during the January renewals as well as increased reinsurer appetite, which led to risk-adjusted rate reductions and improved terms and conditions for clients that could demonstrate differentiated strategies, reinsurance brokers Aon, Gallagher Re and …
Insurance brokers Aon plc, Guy Carpenter and WTW announced they each have completed previously announced mergers and acquisitions. Aon’s acquisition of Griffiths & Armour, which was first announced in November 2024, officially completed on Jan. 1, 2025. Aon said the …
Guy Carpenter reports that average global and regional property catastrophe rates-on-line decreased during the January 2025 renewals in amounts ranging from 5.3% to 7.2%. Guy Carpenter defines rate on line (ROL) as the cost of reinsurance based on premium as …
Global reinsurers’ appetite rose for property catastrophe during the upcoming January renewals, which have seen risk-adjusted reinsurance rate reductions of 5%-15% for loss-free accounts, according to a renewal report published by Guy Carpenter, the reinsurance business of Marsh McLennan. Property …
Guy Carpenter said it is starting a research project to explore the use of parametric insurance solutions in California and Florida for wildfire and hurricane risks. The effort will focus on the use of a “community-based parametric reciprocal exchange,” the …
While the insurance industry is quickly adopting AI technologies to improve the speed and accuracy of routine functions, analyze data and assess risk, malicious actors use the same tech to disrupt business and profit from cyberattacks. Recognizing the potential exposure …
Guy Carpenter, the reinsurance specialist and a business of Marsh McLennan, announced it has entered into an agreement to acquire the remaining 51.5% of shares of Carpenter Turner, an Athens-based regional leader in the reinsurance broking and advisory business. Terms …
The heavy rains and severe floods of Storm Boris, which inundated Central and Eastern Europe during the second week in September, will be the most severe flood event in about a decade, carrying an insurance price tag of an estimated …
