South Africa: Competition keen in property risk excess of loss reinsurance business at 1 July renewals

Published on July 8, 2025
Property risk excess of loss pricing has become very competitive in the South African market with quoted prices reducing on average by a risk-adjusted -7%, during the 1 July renewal season, according
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Ambac and Oaktree announce extension for financial guarantee business sale

July 7, 2025
Insurance holding company Ambac has extended from July 3, 2025, to December 31, 2025 the term of the stock purchase agreement relating to the sale of its legacy financial guarantee businesses -Ambac Assurance Corporation (AAC) and Ambac UK (AUK) – to funds managed by Oaktree Capital Management, L.P. for $420 million in cash.The cash sale of AAC and AUK to Oaktree was initially announced in early J

CyberCube identifies sectors most at risk from Scattered Spider attacks

July 8, 2025
CyberCube, a provider of cyber risk analytics, has identified Manufacturing, Education, IT, and Retail as the sectors most at risk of attacks from the threat actor group Scattered Spider — the group behind several recent high-profile cyber incidents, including the attack on large UK retailer Marks & Spencer (M&S).Scattered Spider has evolved from a newly identified social engineering crew in 2022