As the adoption of artificial intelligence (AI) systems accelerates globally, the International Association of Insurance Supervisors (IAIS) released on 2 July the final version of an application paper on supervision in this field to support the insurance industry. The association says in the paper that no new standards are proposed at this stage.
Prudential plc has announced the commencement of the third and final tranche of its $2bn share buyback programme for $500m. The announcement follows the successful completion of the first and second tranches in 2024 and June 2025.
Texel Group, an independent, specialist credit and political risk insurance broker, has completed its the transition to 100% employee ownership, through the creation of the Texel Employee Ownership Trust (EOT).
Mr Achim Bosch has taken over the position of CEO of Deutsche Rückversicherung (Deutsche Rück). The Supervisory Board of Deutsche Rück appointed him CEO on 18 November 2024. Mr Bosch joined Deutsche Rück in 2019 and has been a member of the Board of Executive Directors since.
Global broking business, Brokerslink, has appointed Mr Conrad Wong to its Board of Directors.
A new global programme 'NATURE-INSURE' to strengthen supervisory responses to biodiversity risk has been launched by UNDP's Sustainable Insurance Forum (SIF), the Taskforce on Nature-related Financial Disclosures (TNFD) and global consultancy firm KPMG.
Lloyd's (re)insurer MS Amlin has appointed Ms Gisela Nilsson as political violence senior underwriter. She brings more than 15 years of experience across terrorism and political violence underwriting.
HDI Global has appointed Dr Christian Wegener as head of investment management.