Insurance broker Howden Group Holdings has raised over $1.1bn in debt and equity, which it intends to use towards M&A initiatives.
Parametric insurance is enjoying a surge in popularity amid a hard property market. As markets begin to see the advantages this type of insurance can offer, the utilization of parametrics will also expand beyond the property and casualty space.
It's not new that insurance regulators are grappling with how (and how much) to regulate artificial intelligence's use in the business of insurance. This year is no different, but some of the big ideas on which regulators previously focused are beginning to inform more practical and detailed efforts to provide concrete guidance or, in some cases, actual regulatory requirements. Two developments in 2023 especially will inform the approaches that regulators will take in the years ahead.
Zurich Insurance Group has announced it is providing climate training materials and teaming up with carbon accounting firm Normative to offer free access to the Business Carbon Calculator.
Fitch Ratings’ new report on UK life insurers’ fundamentals for 2022 indicates the market has remained strong, despite financial market volatility and elevated inflation.
Terrafuse AI, a climate risk intelligence firm, has partnered with Dais Technology, Inc., a provider of insurance software and generative AI for the insurance industry. This collaboration aims to improve risk management and selection for carriers, MGA’s, and brokers worldwide.
Underwriters are starting to address cyber exposure in directors and officers (D&O) policies, an insurtech told delegates at the NetDiligence Cyber Risk Summit in Toronto.
Guernsey-based integrated insurance services and risk management advisory business, Astaara has increased its underwriting capacity and insurance limit from $12.5 million in 2020, to $25 million.
US-headquartered brokerage Acrisure has forayed into Central and Eastern Europe (CEE) by acquiring the region’s biggest insurance distribution platform, Unilink Group, for an undisclosed sum.
Chubb Group had the best financial performance in its history in 2022. The company produced record core operating income and continued to capitalize on favourable commercial P&C underwriting conditions around the world.