International
InsurTech Five Sigma Raises $12M for Cloud-Based Claims Platform Expansion
Israel's Five Sigma raised $12 million to accelerate growth and expansion of its cloud-based claims platform. The investment firm 83North led the Series A round, which also included existing ...
Hurricane Ida Will be Historically Costly – One for the Record Books
Hurricane Ida will likely become one of the costliest U.S. mainland hurricanes on record both on a nominal and inflation-adjusted basis, according to Aon's monthly Global Catastrophe Recap report, ...
Volatile Cyber Market Struggles to Boost Reinsurance Capacity
The cyber insurance market could benefit greatly from more reinsurance cover but it has been a challenge to attract interest. Part of the reason is because the cyber market is a relatively new one ...
P/C Reinsurers Keep Underwriting Discipline, Even as Capacity Rises: Guy Carpenter
Property and casualty reinsurers have displayed underwriting discipline during this year's renewals, continuing with rate corrections that began several years ago, despite the pressures of abundant ...
Willis Towers Watson’s Incoming CEO Reports $5 Billion Available for Possible M&A
Willis Towers Watson has around $5 billion of capital which could used for acquisitions, its president and incoming chief executive said on Thursday, as the insurance broker prepares for a future as ...
Allianz Fund Managers Under U.S. DOJ Investigation
The U.S. Department of Justice (DOJ) investigation into German insurer Allianz is looking at possible misconduct by fund managers and misrepresentation of risk to investors, three people with ...
Lloyd’s Swings Into the Black With H1 Profit of Nearly $2B
Lloyd's of London reported pre-tax profit of £1.4 billion (US$1.9 billion) for the first half of 2021, compared to a £400 million (US$550.8 million) loss during H1 2020. The market's profit was ...
Reduced Insurance Cover Leaving Offshore Operators With Big Ida Losses
Offshore energy firms are likely to face greater financial losses from Hurricane Ida than from previous storms in the Gulf of Mexico, because of reduced coverage offered by insurers, risk modeling ...