Cayman Islands’ re/insurance industry continues to thrive & more…Keep up with what has been happening this week in our latest insurance news round-up…

Aon firm takes Chinese lender to court over Vesttoo fraud

Aon subsidiary White Rock has taken China Construction Bank (CCB) to court over its “direct role” in the letters of credit (LOCs) fraud that led to the collapse of insurtech Vesttoo.

City watchdog raises concerns over £4bn life insurance market

FCA to launch market study into pure protection products to discover if they ‘provide fair value’ to consumers.

New director at WTW international property team

WTW has appointed Gavin Hamilton as a director within its international property team, based in London.

Cayman Islands’ re/insurance industry continues to thrive

The Cayman Islands Monetary Authority (CIMA) has released the licensing statistics for the insurance sector, granting 12 new international insurer licenses in the second quarter of 2024.

Warren Buffett’s warning highlights growing risk of cyber insurance losses

The United States cyber insurance industry continues to see strong profits, according to Fitch Ratings. Average premium increases, meanwhile, have moderated over the last three years: While 2021 saw a 34% jump in premium pricing and costs rose 15% in 2022, increases were under 1% in 2023.