Reinsurance
Hannover Re is targeting $200m from a new Acorn Re catastrophe bond that would give three years of parametric US West Coast earthquake cover, Artemis reported. The cover protects a Kaiser Permanente workers' compensation captive and other Hannover Re clients, with price guidance of 2% to 2.25% against an expected loss of 0.78%.
Risk & Catastrophe
CatIQ estimates that severe storms across southern Ontario on 2 and 3 September 2026 caused an insured industry loss of C$563m, Artemis reported. The initial figure covers property and motor claims plus loss adjustment expenses, and Artemis noted that it could creep higher as claims are settled.
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GLOBAL INSURANCE THE BIG STORY
US online insurance marketplace Insurify has joined Sierra and other technology firms as an early design partner for Poppy, a proposed AI Personal Agent Protocol. Insurify said it will push for insurance-specific rules on shopper consent, coverage details and carrier protections when AI agents request quotes for consumers.
MIDDLE EAST
Insurers operating in Oman held RO903.3mn of investments at the end of the second quarter of 2026, 16.2% more than a year earlier, according to unaudited Financial Services Authority data reported by Muscat Daily. National insurers held about two-thirds of the total, most of the money stayed in Oman, and cash and bank deposits were the largest investment category for national insurers.
UAE · Corporate activity
WTW became the sole shareholder of Al-Futtaim Willis, Atlas Magazine reported.
Kuwait · Regulation
Kuwait's Insurance Regulatory Unit (IRU) has told insurers to report each year how many Kuwaiti nationals they employ and what share of their workforce this is, Middle East Insurance Review reported. Returns must show the position on 31 December and are due within 90 days of the financial year end. The report gives no target, penalty or stated purpose.
GCC-wide · Catastrophe and exposure
Strait of Hormuz shipping traffic dropped to its lowest level in two months as attacks on tankers in the area increased, The National reported.
Reinsurance
Marsh Re has appointed Nathalie Zaatar and Talal Sharif as co-heads for the Middle East, Reinsurance News reported. Both are Dubai-based Marsh insiders with treaty backgrounds. The broker said their leadership will support continued growth in its broking and advisory services across the region.
Insurance
AM Best assigned Kuwait's First Takaful Insurance Company (FTIC) a 'B' (Fair) financial strength rating and a 'bb' long-term issuer credit rating, both with a stable outlook, Middle East Insurance Review reported. AM Best sees very strong risk-adjusted capitalisation, which includes a KWD6m capital injection in 2026, but marginal operating performance after a 130% average combined ratio for 2023-2025.
Reinsurance
AM Best has affirmed the 'A' (Excellent) financial strength rating and 'a' long-term issuer credit rating of Barbados-based Active Capital Reinsurance (Active Re), with a stable outlook, Middle East Insurance Review reported on 6 October. The agency rated risk-adjusted capitalisation at the strongest level and operating performance as strong.
Insurtech & AI
Boston-based specialty insurer Ledgebrook raised USD 200 million in primary equity in a round co-led by Allianz X and Rockefeller Capital Management. Allianz Re also agreed to enter a multi-year reinsurance agreement with the company, which writes US excess and surplus lines cover through wholesale brokers and prices risks with its own AI platform.
Insurtech & AI
The Monetary Authority of Singapore (MAS) issued Guidelines on AI Risk Management that apply to all financial institutions and all forms of AI, and says firms remain accountable for AI that third parties develop, operate or provide. The guidelines take effect on 7 October 2027, with Sections 5 and 6 due by 7 October 2028.
Insurance
Insurance trade bodies from Australia, the UK, Canada and New Zealand launched the Four Nations Insurance Alliance in London on 6 October 2026. The non-binding partnership will share evidence on disaster prevention, hazard data, regulation, cyber and AI. Its members represent insurers that write about US$200 billion in premiums each year.
RISK & CATASTROPHE · IN CONTEXT
Europe’s insurance supervisor EIOPA says extreme heat is the leading climate-related liability risk for life and health insurers and occupational pension providers. Its report, published on 30 September, finds that financial effects are limited today because of offsetting factors, but expects the risk to grow over the coming decades. EIOPA encourages insurers to include these risks in their climate risk assessments.
Insurtech & AI · In context
Eligible Canadian travellers can explore CoverMe cover in a conversational channel, then complete the purchase on the insurer’s site.
Markets & Results
Zurich Insurance Group has completed its acquisition of Beazley and will combine it with its Global Specialty business, which Zurich says creates the world's largest specialty insurer, based in London. Kristof Terryn becomes chief executive of the combined unit, subject to regulatory approval. Zurich targets over US$1 billion of extra annual revenue by 2029.
Regulation
Kuwait's Insurance Regulatory Unit (IRU) has told insurers to report each year how many Kuwaiti nationals they employ and what share of their workforce this is, Middle East Insurance Review reported. Returns must show the position on 31 December and are due within 90 days of the financial year end. The report gives no target, penalty or stated purpose.
Risk & Catastrophe
TWIA projects a total need of about $2.05bn of reinsurance and catastrophe bonds for 2027, with existing cat bonds possibly reducing new purchases to about $1bn, and a risk transfer budget about 18% lower, Artemis reported.
Regulation
The Prudential Regulation Authority proposes that 128 fixed monetary thresholds in its rules for banks, insurers and credit unions rise automatically with nominal UK GDP. They include the size at which an insurer becomes subject to Solvency UK. The first update would take effect on 1 July 2031, and the consultation closes on 7 February 2027.
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