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Majesco, a global leader of cloud insurance solutions for insurance business transformation, today announced its participation as a Gold sponsor at the upcoming 2024 NAMIC Annual Convention, held from September 22 nd– September 25 th in Denver, CO. The NAMIC Annual Convention is the insurance industry’ s premier event, bringing together industry leaders,…

As reinsurance industry leaders prepare to gather in Monte Carlo for the annual Rendez-Vous de Septembre, AM Best’ s latest research on the global industry highlights the segment’ s strong technical results amid an ongoing shift to the IFRS 17 reporting standard that has altered the performance analysis of these companies. Now available in one comprehensive…

September 3, 2024- SiriusPoint Ltd., a global specialty insurer and reinsurer, has today announced a new strategic partnership with Gigasure, an insurtech startup offering personalized travel insurance. As a distribution partner, policies will be underwritten by SiriusPoint. IMG, a global insurance and assistance services company and subsidiary of…

LiveOak Fiber, a regional broadband service provider founded in 2022, is pleased to announce it has secured additional funding through a co-investment partnership between InfraRed Capital Partners and MEAG, the Asset Manager of Munich Reinsurance Company and its wholly owned direct and indirect subsidiaries. This new investment will further support…

AM Best will participate in a customer centric panel discussion at the 30th East Asian Insurance Congress’ Hong Kong Conference, which will take place 24-27 September 2024 at the Hong Kong Convention and Exhibition Center. Andrea Keenan, executive vice president and chief strategy officer, AM Best Rating Services, Inc., will moderate a panel discussion titled,“…

Octagon's new headquarters at 400 Atlantic St. in downtown Stamford reflects a trend of companies moving their main offices from suburban locations to more metropolitan areas. Octagon's new headquarters on the 11th floor of 400 Atlantic are located a block from Interstate 95 and the downtown Metro-North Railroad station. It had moved to Shippan Landing in…

In AM Best’ s view, economic, political and financial system risks in Lebanon are very high, with the country having to contend with hyperinflation and a significantly devalued currency. While Arab Re maintains a material exposure to Lebanon through its operations and part of its investment portfolio, the company has successfully diversified its asset base…

Shares of Chubb Limited (NYSE: CB) traded at a new 52-week high today and are currently trading at $282.36. So far today, approximately 38,142 shares have been exchanged, as compared to an average 30-day volume of 1.27M shares. Chubb Limited provides insurance and reinsurance products worldwide. The company’s North America Commercial P&C Insurance segment offers […]

AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a” of INPEX Insurance, Ltd.. The outlook of these Credit Ratings is stable. Moreover, IIL has secured stable reinsurance capacity and is expected to reduce reliance on other commercial reinsurers as INPEX recently became a member of Everen Limited, an energy…

AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of“ a+” of The Toa Reinsurance Company, Limited and its subsidiaries, The Toa Reinsurance Company of America and The Toa 21st Century Reinsurance Company, Ltd.. The company demonstrated notable performance improvements in FY2023 by reporting a net profit of JPY 15.6…

KKR& Co. Inc. announced today that Raj Agrawal, Partner and Global Head of Infrastructure, will present at the Barclays Global Financial Services Conference on Monday, September 9, 2024 at 9:45 AM ET. KKR’ s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. For additional…

AM Best has revised the outlook to positive from stable and affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of“ bbb+” of Reaseguradora Delta, S.A. and Reaseguradora Delta, C.A.. Founded in Panama in 2010, Delta Panama offers treaty and facultative reinsurance for several lines of business, including fire, surety, construction and…

Partially offsetting these positive rating factors is the competitive market environment in the Dominican Republic. La Colonial is the fifth-largest insurance company in the Dominican Republic, with a 7.5% market share as of April 2024. The company has maintained its leading position in the Dominican Republic despite changing market dynamics, which…

Trident Reciprocal Exchange is a de novo reciprocal exchange recently established to write homeowners’ insurance in Florida. Further, KBRA views the company’ s business plan as reasonable, with a management team that has considerable experience in the Florida homeowners’ insurance market. Furthermore, as a Florida homeowners’ writer, the Reciprocal will have…

For the period ended July 31, 2024. For further information, please contact:. The Consolidated Financial Statements are prepared in compliance with International Financial Reporting Standards as issued by the International Accounting Standards Board and International Accounting Standard 34, Interim Financial Reporting unless otherwise noted.