Month: December 2024

Catastrophe bond market records are descending in 2024 and set to be beaten on most fronts, as overall issuance recorded in our insurance-linked securities (ILS) focused sister publication, Artemis’ Deal Directory, is set to hit a new high of almost $17.7 billion for the year. This remarkable figure also includes a record $17.24 billion of…

Florida-domiciled insurers Security First Insurance and Embark MGA, have together launched a new HO5 homeowners’ insurance program designed exclusively for new home builders for affordable, turnkey insurance options for home buyers. This policy combines enhanced coverage options tailored to the needs of Florida homeowners with the simplicity of embedding the insurance in the home-buying process…

RiverStone International has entered into an agreement with the French division of Zurich Insurance Europe and Zurich Insurance Company to deliver a loss portfolio transfer reinsurance (LPT) and facilitate an insurance business transfer involving the French discontinued motor and architects & engineers (A&E) professional indemnity portfolios. According to RiverStone, these transactions represent a significant milestone,…

The Government of Belize received $805,794 under one of The Caribbean Catastrophe Risk Insurance Facility (CCRIF) SPC’s Wet Season Trigger, a recently introduced policy endorsement. From November 16th to 18th, the coastal area of northern Belize received rainfall due to Tropical Cyclone Sara, occurring after a period of significantly above the long-term average rainfall for…

CCC Intelligent Solutions (CCC), a cloud platform provider powering the P&C insurance economy, has signed a definitive agreement to acquire EvolutionIQ, an AI-powered platform for disability and injury claims management. Under the agreement, EvolutionIQ’s founders and team will join CCC, leveraging its operational resources and extensive customer network to expand into core markets. The acquisition…

The insurance industry is poised for relative stabilisation in 2025 following years of disruption, Stonybrook Capital stated in its 2025 P&C Outlook. According to analysts, while some commercial lines may see moderate price decreases as capacity and competition normalise, persistent factors like sticky price inflation and social inflation will temper these reductions. Insurers are advised…

Nexus Underwriting, a specialty Managing General Agent (MGA), has entered into an agreement to acquire Arma Fusion Limited, the parent company of Arma Underwriting Limited (Arma), with the deal expected to close in the first quarter of 2025. Founded in 2017, Arma is a Dubai-based specialty MGA focusing on Property, Energy, Liability, Consumer, and Accident…

Volante Global, an international Managing General Agent (MGA) and Lloyd’s Syndicate, has announced the appointment of Martin Reith as its new Executive Chairman. In his new role, Reith will focus on enhancing Volante Global’s underwriting strategy and ensuring it aligns with the company’s long-term goals and market opportunities. He will also provide strategic guidance to…

Aviva has agreed a deal to acquire Direct Line in a £3.7 billion cash-and-stock deal, a move that will create the UK’s largest home and motor insurer. Under the terms of the £3.7 billion new deal, for each Direct Line share held, shareholders will receive 0.2867 new Aviva shares, 129.7 pence in cash and up…

Arch Insurance, a division of Bermuda-based re/insurer Arch Capital Group, has appointed Ezechiel Symenouh as a Senior Cyber Underwriter, based in Paris, effective immediately. Symenouh joins Arch Insurance (EU) dac (AIEU), which provides specialist property and casualty insurance solutions within the European Union. The AIEU cyber division provides standalone and combined Cyber & Tech solutions,…