Oxbridge Re Holdings Ltd., the Cayman Islands based reinsurance company, has confirmed its two tranche offering of tokenized reinsurance securities that will fund its collateralized reinsurance sidecar vehicle Oxbridge Re NS for the 2026/2027 reinsurance contract year, with 20% and 42% return targets.Recall that Oxbridge Re launched is Web3-focused venture SurancePlus back in 2022, utilising digital ledger technology to create tokenized reinsurance securities using the Avalanche blockchain. These tokenized reinsurance securities serve as a funding mechanism to bolster the firm’s collateralized reinsurance sidecar vehicle, Oxbridge Re NS. Investors who purchase these securities gain access to reinsurance-linked returns produced through the…
Author: Awais
Separately, the National Association of Mutual Insurance Companies questioned how the evaluation tool defines and categorizes predictive models and generalized linear models. An earlier draft of the tool included a definition of GLMs, but that language was removed because those models were outside the tool’s scoring scope, said Lindsey Stephani, NAMIC’s policy vice president for data science, AI, machine learning and cybersecurity.
A Massachusetts man was convicted last week in federal court in Boston for engaging in a scheme in which he provided an applicant with the answers to the state’s commercial drivers learner’s permit exam. Frank Castro was convicted of unlawful production of an identification document, according to U.S. Attorney Leah B. Foley. A federal district court scheduled sentencing for May 7, 2026. Castro was indicted by a federal grand jury in April 2024. Massachusetts requires drivers to obtain a learner’s permit before they can obtaining a commercial driver’s license from the Massachusetts Registry of Motor Vehicles (RMV). Prosecutors said that…
The company posted fourth-quarter net income of $676 million, up from $405 million a year earlier, reflecting in part a $145 million after-tax increase in the fair value of equity securities still held. For the full year, net income rose to $2.393 billion from $2.292 billion in 2024, a performance that compares favorably with several large commercial insurers that reported flatter year-over-year earnings due to catastrophe losses and margin pressure.
The article is part of a partnership between the Commonwealth Fund and the Bassett Research Institute in Cooperstown, N.Y., to explore innovative approaches to the health care challenges facing rural communities across the United States. A UC Berkeley alumna who made a small fortune by identifying and responding to rural health needs is betting on 100 students from rural communities to drive changes in policy and practice. A joint research project they are undertaking may generate new insights about the access and affordability barriers rural residents across the U.S. face.Although Lynn Barr, MPH, is arguably one of the most successful…
States in the U.S. West are grappling with an unusually warm, arid winter that is ramping up fire risk in some areas, driving utilities to take drastic precautions, including sometimes shutting off the power in a bid to keep their equipment from sparking a potentially ruinous blaze. Across large pockets of Texas, New Mexico and Colorado, fine grasses and brush that fuel fires have dried out as La Niña largely holds significant rain and snow at bay— a pattern that’s projected to continue into the spring. As fire weather alerts from the U.S. National Weather Service loomed in December and…
American International Group announced on Friday it has completed the acquisitions of strategic minority ownership stakes in Convex Group Ltd., a privately held, global specialty re/insurer, and Onex Corp., a publicly traded global asset manager. AIG acquired an approximately 35% equity interest in Convex for approximately $2.1 billion, and a 9.9% ownership stake in Onex for approximately $642 million. In conjunction with AIG’s investment in Convex, Onex has become the majority shareholder in Convex with a 63% ownership interest. The deal was first announced in October 2025. “We could not be more pleased to announce the completion of our minority…
Fourth quarter 2025 underwriting income in American International Group’s (AIG) General Insurance segment increased 48% compared with the prior year, to $670 million. The unit, which includes North America commercial, International commercial, and global personal—recorded $125 million in catastrophe-related charges in Q4 2025, compared with $325 million for Q4 2024. Net premiums written were relatively flat, down 1% to about $6.04 billion from about $6.08 billion. The Q4 combined ratio for General Insurance was 88.8—an improvement of 3.7 points from the same period in 2024. The result was driven by North America commercial, where the combined ratio was 84.7 versus…
Florida’s Chief Financial Officer, who quickly showed his cards on wasteful and fraudulent spending at the local level, has now announced a crackdown inside his own and other state government departments, related to fraudulent insurance claims. CFO Blaise Ingoglia said Monday that six people, three of them recent state agency workers, were arrested in connection with a scheme that involved $1.7 million in fraudulent damage claims paid by the state Division of Risk Management. Details were few, and arrest records were not immediately available. Ingoglia said in a bulletin that one woman who worked at the Department of Financial Services…
The traditional reinsurance market is expected to present heightened competition to insurance-linked securities (ILS) in 2026, but investor inflows, a strong maturities schedule, and retained earnings should keep ILS capital levels healthy and catastrophe bond pricing attractive to cedents, executives from GC Securities told Artemis.During an interview around the start of this year, Cory Anger and Geoff Sweitzer, Managing Director’s at GC Securities, the capital markets and ILS specialist unit of reinsurance broker Guy Carpenter, shared their outlook for the catastrophe bond and ILS sector for 2026. With 2025 being a particularly exceptional year for the ILS market, momentum across…
Greece and Malta have emerged as the main obstacle to a European Union proposal to replace a Russian oil price cap with a ban on the services needed to ship the fuel. The two southern European countries raised concerns about the move at an EU ambassadors’ meeting on Monday where the bloc’s latest sanctions package was presented, according to people familiar with the matter. They expressed fears that the switch may affect Europe’s shipping industry and energy prices, said the people, who spoke on condition of anonymity to discuss private deliberations. Both nations also asked for clarifications on proposals to…
Shreveport, Louisiana-based Minden Seafood, LLC, and Dorcheat Seafood, LLC, operators of restaurants Minden Seafood and Dorcheat Seafood and Grill, will pay a former employee $34,000 in back pay and emotional distress damages to settle a sexual harassment lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. According to the EEOC’s lawsuit, a male cook at Minden Seafood repeatedly sexually harassed a female cashier by making unwanted and inappropriate sexually suggestive comments to her, propositioning her, and following her into the women’s bathroom, where he exposed himself to her. She reported the cook’s behavior to a…
President Donald Trump threatened to block the opening of a new bridge that connects Michigan and Ontario until the US was given compensation and ownership of half of it, saying he’d start negotiations immediately. “I will not allow this bridge to open until the United States is fully compensated for everything we have given them, and also, importantly, Canada treats the United States with the Fairness and Respect that we deserve,” Trump said on social media Monday. “We will start negotiations, IMMEDIATELY. With all that we have given them, we should own, perhaps, at least one half of this asset,”…
The EPA has identified the chemical compound spilled in Garnett, Kansas, on Dec. 31, 2025. Recent laboratory analysis corroborates EPA’s preliminary field screening results with a “high level of confidence” that the corrosive substance was sodium aluminate, the agency said. Field tests were conducted early in the response and identified the material as a strong base with a pH level of 14. Strong bases are reactive chemicals that undergo various chemical changes when they are exposed to the elements. These characteristics made collecting a pure sample for broad-spectrum analysis difficult. The laboratory conducting the analysis was able to account for…