Frequency of events is the main driver of insured loss accumulation, with severe convective storms accounting for a record high of US$64 billion in 2023

Ahmad, who will start his new position in mid-April, will be responsible for all pricing solutions, driving strategy and development across Verisk.

This partnership marks another step for Cytora in building a comprehensive data ecosystem for the insurance industry, following its collaboration with Chubb and the integration of Large Language Models into its platform.

Frank Hattann was formerly the CEO of Alpha BGS Commercial and brings 20 years of commercial leadership and management experience to the role

In the group captive, Artex serves as the captive consultant and manager and also offers claims advocacy.

The transaction, expected to conclude early in the second quarter of 2024, is the largest Canadian universal life reinsurance deal to date.

Pool Re’s proposals to convert its reinsurance arrangements from the current facultative obligatory treaty to an annual aggregate catastrophe excess of loss treaty will take effect in April 2025.

BMS has added Tom Spraggs, Richard Austwick and Tom Woolcott to its financial and professional risks division.

The state licensed 25 new captives and 66 new cells last year, bringing the total to 164 captives and 555 cells, according to data from the Tennessee Department of Commerce and Insurance’s (TDCI’s) Captive Insurance Section.

The insurance broker says that the facility provides up to US $825 million in insurance capacity and will support organisations with digital assets held offline

Based in Bermuda, Edgware Re engages with its members and allows participants to purchase up to US$10 million in insurance or reinsurance based on their needs.

In his new role, Savill will lead Guy Carpenter’s broking operations in the Pacific, focusing on strategic growth and addressing the complex needs of clients.