Dutch pension PFZW (or Pensioenfonds Zorg en Welzijn) has recently benefited from another $150 million return of profits through a dividend from Vermeer Reinsurance Ltd., the joint-venture and rated underwriting vehicle that RenaissanceRe Capital Partners manages on its behalf.PFZW remains the single largest end-investor in insurance-linked securities (ILS) through its allocation that is managed by PGGM, maintaining numerous access points across catastrophe bonds, private ILS and direct reinsurance investments. Vermeer Re fits more into the latter category, being a rated reinsurance company that was initially capitalised by PGGM on behalf of PFZW and has been steadily scaling in market stature,…
Author: Awais
Canopius, the international specialty and property/casualty re/insurer, has announced the creation of its consolidated Natural Resources team in response to market demand. The team encompasses energy, heavy industry and construction to better reflect how brokers in these classes allocate business. They write across upstream, midstream and downstream energy, as well as power and renewables, mining, metals and chemicals, ensuring alignment with how risks are placed in the market. This consolidation will allow underwriters to work with brokers to create bespoke, cross class solutions for their client’s needs, reinforcing the insurer’s commitment to providing the best products for insureds, the company…
Every day, the Ohio River sends billions of gallons of water flowing past Louisville’s pumping station, where the Kentucky city’s utility sucks it up to turn it into tap water. To ensure it tastes good and is safe to drink, a small team of scientists and technicians is constantly testing the water for pH, odors, heavy metals, and microbes. But unlike many smaller municipal utilities in the U.S., Louisville Water regularly checks for PFAS — per- and polyfluoroalkyl substances. That’s a class of chemicals used by manufacturers for decades to make things like nonstick pans, cosmetics, raincoats, food wrappers, and…
Francisco Lindor, Carlos Correa, and Jose Altuve were left off their countries’ rosters for the World Baseball Classic over insurance coverage. Lindor and Correa were left off Puerto Rico roster. Altuve was not included in Venezuela’s roster because of insurance. This year’s tournament runs from March 5-17 in Tokyo, Houston, San Juan, Puerto Rico, and Miami, where the final will be played for the second straight time. Seventy-eight Major League Baseball all-stars, including 36 from last year, are on the 30-man rosters of the 20 teams competing in the WBC. Puerto Rico’s roster was impacted by insurance issues. The tournament…
Thousands of people fled their homes in central Portugal after rising waters burst through the banks of the Mondego River, flooding roads, collapsing critical infrastructure and leaving vast areas of farmland under water. At least 3,000 people were evacuated in the Coimbra area alone after heavy rainfall caused a levee to rupture, triggering significant flooding in the city and surrounding towns, according to civil-protection authorities. Part of the country’s main north–south highway, known as A1, also collapsed near Coimbra, said concession operator Brisa Auto-Estradas de Portugal SA. Hundreds more have been displaced nationwide since the storms began at the end…
AXIAN Group, a pan-African conglomerate spanning telecommunications, energy, real estate, fintech and financial services, is expanding into insurance underwriting to tap the world’s least covered regions. The group, which generated $2.75 billion in revenue in 2024, has launched VIA Insurance and VIA Assurance in Madagascar, according to Hassane Muhieddine, chief executive officer of AXIAN’s financial services cluster. Africa’s insurance penetration was about 3.5% of gross domestic product in 2025, half of the global average, according to AXIAN. In Madagascar, uptake is even more dismal at below 1%, with only 20% of vehicles on third-party liability coverage, even though it is…
On June 6, 2024, Princeton Excess and Surplus Lines Insurance Company filed a declaratory judgment action in federal court in Washington, D.C., asking a judge to rule that it had no duty to defend or indemnify its insured, Lexicon Title Services, LLC, or Lexicon’s sole member, Deidre Brown. On February 10, 2026, the court agreed.
For a few hours on Wednesday, the sleepy airport of El Paso, Texas, became a sudden flashpoint for confusion. Late Tuesday night, the Federal Aviation Administration issued a terse notice to pilots that airspace in the area would close — for an unprecedented 10 days — due to “special security reasons.” And then almost as suddenly, the FAA lifted the restrictions Wednesday morning. Conflicting accounts of what prompted the action in the first place quickly emerged. Trump administration officials including Transportation Secretary Sean Duffy said the shutdown was in response to drones operated by Mexican drug cartels that had breached…
Texas Attorney General Ken Paxton on Wednesday sued the company that owns Snapchat, accusing the social media organization of failing to adequately warn parents about inappropriate material on the platform and downplaying its addictiveness. The lawsuit alleges that Snapchat, a free multimedia messaging app, violated the Texas Deceptive Trade Practices Act by listing itself on app stores as appropriate for children ages 12 and older, despite frequently exposing users to dangerous and mature content that includes profanity, sexual content, nudity and drug use. The filing also cites multiple other features of the app, including “Snapstreaks” and other incentives to use…
A bus carrying an Iowa community college baseball team crashed and overturned in a ditch on Wednesday, Feb. 11, killing one person and injuring 32 others onboard. The crash involved a bus carrying Iowa Lakes Community College baseball team and no other vehicles. Authorities said that shortly after 11 a.m. the bus went off the roadway on Highway 4 near Twin Lakes in Calhoun County and overturned in a ditch. Those injured were transported either by air ambulance or ground ambulance to various hospitals in the area, authorities said. The crash remains under investigation by the Iowa State Patrol and…
Unison Risk Advisors announced the appointment of Nicole L. O’Sullivan as chief people officer. Based in Cleveland, Ohio, O’Sullivan will lead the firm’s human capital strategy, supporting talent, leadership, and culture initiatives across Unison’s growing platform. Nicole O’Sullivan O’Sullivan joins Unison with more than 25 years of experience leading enterprise-wide people strategies for complex, growing organizations. She has partnered closely with executive leadership teams to align workforce priorities to business strategy, guide organizations through change and integration, and strengthen internal communications during periods of growth and transformation. As chief people officer, at Unison Risk Advisors, Nicole will lead the firm’s…
China has officially charged AstraZeneca’s former regional head, Leon Wang, who was detained by authorities in the country more than a year ago in relation to probes into the drugmaker’s business. The company confirmed Wang’s indictment to Reuters on Wednesday, a day after disclosing that Chinese prosecutors had charged a former executive vice president and a former senior employee in November, without naming them. They were both charged with “unlawful collection of personal information, illegal trade and medical insurance fraud,” the company said on Tuesday. AstraZeneca’s shares sharply fell after Wang’s detention was announced in October 2024, following probes by…
In Part 1 of this series, we examined how medical abuse extends far beyond excessive treatment, encompassing inflated billing, referral networks, misleading provider reports, and misuse of ancillary services. These behaviors can distort reserves, extend claim life cycles, and undermine actuarial predictability. Part 2 focuses on detection and strategic response — how insurers, employers and claims managers can operationalize early red-flag identification, credential provider networks, manage litigation, and integrate analytics to reduce the financial and regulatory consequences of medical abuse. Detection, Red Flags, and Claims Workflow Integration To manage the risk of medical abuse, GL and WC claims professionals must…
A recent commentary from Neue Bank AG hailed catastrophe bonds as one of the most compelling financial instruments within the field of alternative investments, with the firm particularly emphasising their capacity to offer significant diversification opportunities for investors.Neue Bank AG is a private bank based in Vaduz, Liechtenstein, specialising in personalised wealth management, investment advice, and financial planning. “Catastrophe bonds (Cat Bonds) are among the most compelling instruments in the field of alternative investments. The market becomes particularly attractive immediately after the end of the hurricane season, as a large share of the global Cat Bond volume provides protection against…