After the recent release of Gallagher Re’s Global InsurTech Report for Q4 23, Freddie Scarratt, Deputy Global Head of InsurTech at Gallagher Re, looks back at the biggest tech story of last year. Many topics drove the InsurTech narrative in 2023, but perhaps the one that grabbed the most universal attention was artificial intelligence (AI). The graph shows … [Read more...] about 2023: The Year AI Started to Be Taken Seriously in (Re)insurance
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DARAG completes two captive transactions in NA
Legacy acquirer DARAG Group has concluded two undisclosed captive legacy transactions. The first transaction was a Bermuda-based captive for insured risks through 2016 and was completed at the end of 2023. The second was a Cayman-based captive for insured risks through 2015, concluding in early 2024. Both portfolios insured workers compensation, general liability and auto … [Read more...] about DARAG completes two captive transactions in NA
Marco Re launches from merger of former Credit Suisse ILS reinsurers
Marco Capital Holdings Limited, a European property and casualty (P&C) run-off specialist, has merged Guernsey based, former Credit Suisse ILS reinsurers Kelvin Re and Humboldt Re under the new brand Marco Re, following approval from the Guernsey Financial Services Commission in December of last year. Marco Capital acquired Humboldt Re in late 2021 and Kelvin Re in mid … [Read more...] about Marco Re launches from merger of former Credit Suisse ILS reinsurers
DARAG Group completes Hawaii captive acquisition
Legacy acquirer DARAG Group has completed the acquisition of a Hawaii-based captive. The transfer involves a portfolio of workers’ compensation business that entered runoff in 2023. It will now shift to an existing DARAG entity domiciled in the United States, providing complete legal closure. Tom Booth, CEO of DARAG, emphasized there is growing … [Read more...] about DARAG Group completes Hawaii captive acquisition
Carrick Group Announces LPT with IRB(Re)
January 17, 2024 – Carrick Group Limited (“Carrick”), a Bermuda-based international non-life legacy insurance business providing reinsurance and run-off solutions, today announced that Carrick Re Limited, a Bermuda class 3A reinsurer, has entered into a loss portfolio transfer with IRB(Re), a Brazilian private reinsurance company, on behalf of its UK Branch, ahead of a Part VII … [Read more...] about Carrick Group Announces LPT with IRB(Re)
