InsurTech

The firm said it had identified two specific transactions in which “collateral inconsistencies” were in question.

It emerged last week that Steve Hearn was leaving Ardonagh, which he joined through its acquisition of Corant Global.

The platform will connect MGAs with capacity from a wide range of providers.

Insurers are looking ahead to possible fallout from issues such as cyber risks and the impact of AI on the workforce, while still seeing these new trends as opportunities to capture.

The company’s platform allows for the sharing of high quality, standardised data across the insurance value chain.

The partnership will give Lloyd’s Lab members access to expand operations in Dubai.

Costin left Piiq Risk Partners in November 2022 after nearly three years at the aviation broker.

The round was led by Tokio Marine and included MetLife Next Gen Ventures, Malaysia's sovereign wealth fund Khazanah Nasional and new and existing shareholders.

The cyber MGA reported that claims severity increased by 7% to an average loss of nearly $169,000, fueled by business email compromise and other types of attacks.

Mega-round funding accounted for the smallest percentage of total funding since Q1 2020, according to Gallagher Re’s latest Global InsurTech Report.

The business will have insurance management and reinsurance transformer subsidiaries.

Capitola operates as a digital market that connects brokers with carriers using AI for risk-appetite matching.