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American Takaful Insurance Solutions, the Takaful insurance division of Algorithmic Insurance Services Inc., has been appointed as the exclusive brokerage and advisory firm to support the development and reinsurance placement of Takaful America, the first large-scale Managing General Underwriter (MGU) in the United States based on Takaful-compliant cooperative insurance principles.

Specialty brokerage  LIRG(TM) has agreed a binder with reinsurer Ocean Re to provide parametric covers for terrorism, strikes, riots and civil commotion, political violence and cyber risks, the companies confirmed.

Algorithmic Insurance Services, Inc., dba LIRG(TM), today announced its selection of MANiT Labs to serve as the core technology platform for its reinsurance brokerage operations. This partnership reinforces LIRG's mission to become a global leader in reinsurance broking and consulting by combining domain expertise with advanced automation and visibility.

Algorithmic Insurance Services, Inc., dba LIRG™, today announced the appointment of Steven Griswold as Chief Operating Officer, reporting to Founder and Chief Executive Officer Mark Groenheide. Griswold's appointment enhances LIRG's leadership team as the company continues to scale its global consulting and (re)insurance operations.

LIRG™ today announced the appointment of Kurt Dinkelacker as Chief Financial Officer. A seasoned finance executive with more than two decades of leadership experience, Dinkelacker will oversee all financial strategy, reporting, and capital management for LIRG as the firm accelerates its growth across specialty (re)insurance, programs, and advisory.

NormanMax co-founder Mark Groenheide is leaving the parametric-focused (re)insurer to launch cat-focused (re)insurance and advisory platform LIRG™, targeting underserved and catastrophe-exposed segments of the U.S. market.

Join Nick as he sits down with Mark Groenheide, CRO of NormanMax Insurance Services, a seasoned commercial underwriter and parametric enthusiast. Mark discusses the evolution and significance of parametric insurance, sharing insights from his career spanning underwriting, risk transfer, and the founding of a Lloyd's Syndicate. Learn about the practical applications of parametric insurance, its potential to address gaps in traditional indemnity policies, and its future in the insurance landscape. For insurance professionals looking to stay ahead of industry trends.