Specialty Risk RE (SRR), a non-cat property and casualty focused collateralised reinsurer launched in 2024, has successfully closed an initial $50 million institutional funding round, led by private equity firm NMS Capital Group.

Kairos Risk Solutions, a regional risk consultancy firm headquartered in Singapore, in collaboration with Thailand-based insurance broker, CHAZ Insurance Brokers, has finalised a parametric insurance solution designed to protect an offshore aquaculture firm against the impact of typhoons in the South China Sea region.

Brokerage Willis, a WTW business, has announced the appointment of Derrick Easton as the new Global Head of Alternative Risk Transfer (ART) and Head of Western Europe for Risk and Analytics, where he will report to John Merkovsky, Global Head of Risk & Analytics, and Hugo Wegbrans, Head of Risk & Broking Europe.

Steel City Re is the world’s only provider of parametric reputation insurance offerings, leveraging a reputational value index that delivers more stable and higher returns for reinsurers and insurance-linked securities (ILS) investors, according to co-founder and CEO Nir Kossovsky.

A 2022 project under the Tripartite Agreement which was launched to help strengthen the financial resilience of flood-prone communities in Ghana, has successfully delivered two parametric insurance products: the Excess Rainfall Cover and the Flood Footprint Product.

Insurance and reinsurance broking group Gallagher, through its captive, alternative risk transfer, insurance-linked securities (ILS) facilitation and capital solutions subsidiary, Artex, has expanded its services in the Middle East & Africa (MEA) region with the launch of alternative risk management services in the Abu Dhabi Global Market.

Rating agency AM Best has highlighted disciplined capital deployment as a feature of the insurance-linked securities (ILS) market in 2023, which, thanks in part to sustained strong pricing in reinsurance, experienced a record-breaking year.

Lockton Re Capital Markets (LRCM), the division of the global reinsurance broker focused on helping clients access broader pools of capital from across the traditional and capital markets, has hired Brendan Roche from GC Securities as its new Head of Distribution.

Aki Hussain, Chief Executive Officer (CEO) of insurer Hiscox, expects continued outflows from the firm’s insurance-linked securities (ILS) business in 2024, but with new money starting to come in and with Hiscox set to supplement the business with its own capital, the expectation is for net portfolio growth this year.

The African Risk Capacity (ARC), a provider of parametric disaster insurance products to countries and other entities in Africa, has now paid out more than $170 million in claims to support its members in the aftermath of natural disasters.