insurance

Financials Acquisition Corp, a special purpose acquisition company launched in 2022 by sector executives William Allen and Andrew Rear, is in talks on a deal to launch a £1 billion capacity listed Lloyd’s underwriting investment vehicle, that will use ILS structure London Bridge 2 PCC Ltd. to channel institutional capital into the market.

Insurance and perhaps reinsurance market losses from a spate of Severe Convective Storm (SCS) activity that struck the Central and Southern United States between June 10th and 19th are now estimated at around $5.5 billion, according to catastrophe modeller Karen Clark & Company (KCC).

Tropical storm Bret formed in the Atlantic yesterday, becoming perhaps the earliest storm to form so far east, which experts are saying has been fuelled by the exceptional sea surface temperatures seen in the basin.

Fidelis Insurance Holdings Limited, the specialty insurance and reinsurance firm launched by Richard Brindle, has launched its awaited New York initial public offering (IPO), as the company seeks new capital to fund additional expansion into the hard market conditions.

Broking giant Marsh has noted that capacity is increasingly an issue and alongside losses this has served to drive US property insurance rate increases higher in the first-quarter of 2023.

An outbreak of hailstorms in Texas from severe convective weather in June is expected to drive more than $1 billion in insurance industry losses, according to catastrophe modeller Karen Clark & Company (KCC).

Reask, a tech company that provides catastrophe modelling, climate analytics and data using machine learning techniques and artificial intelligence, is set to expand to the United States and will use the now $6.55 million seed funding it has accumulated, as it looks to expand its extreme weather modelling services.

The approval of two carriers to takeout policies from Florida’s property insurer of last resort, Citizens Property Insurance Corporation, right in the middle of the hurricane season, shows there are risks that are viewed as attractive within the Citizens portfolio, while these semi-seasoned risks can even be an easier win than finding and writing new […]

The Global Shield Solutions Platform (GSSP), a new multi-donor grant facility and one of the core financing vehicles of the Global Shield, has officially been launched to help vulnerable countries effectively address loss and damage exacerbated by climate change.

Australian insurance giant IAG is expecting to go over its natural perils budget again this financial year, despite having revised it higher after weather losses already suffered, while higher reinsurance costs are cited as a significant driver of its desire to continue making inward rate.