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Fitch Ratings has revised its global reinsurance sector outlook to ‘neutral’ from ‘improving’, noting that the pricing cycle has “most likely passed its peak”, though profitability should remain very strong in 2025 by historical standa...
Posted: Sep 05, 2024
Guy Carpenter, the reinsurance broking division of Marsh McLennan, has appointed Jennifer Paretchan as Global Head of Distribution and Market Relations, where she will be based in the firm’s New York office. In the role, she will primarily f...
Posted: Sep 05, 2024
Casualty insurance analytics provider, Praedicat, has been acquired by global rating agency Moody’s Corporation, building on its acquisition of RMS in 2021 and advancing its investments in new analytics and growth in the casualty marketplace...
Posted: Sep 05, 2024
Life insurer MetLife Inc. has named Toby Srihiran Brown as the Global Head of Reinsurance, effective October 1st, 2024. He will report to John McCallion, Chief Financial Officer of MetLife, Inc., and Head of MetLife Investment Management. Brown...
Posted: Sep 05, 2024
After achieving its best interim combined ratio since 2007 in the first half of the year, Lloyd’s CEO, John Neal, has emphasised that this industry-leading performance has underpinned the firm’s ability to innovate and design the solut...
Posted: Sep 05, 2024
Markel, the insurance arm of global re/insurer Markel Group Inc., has appointed Jamie Mullarkey to the role of Global Executive Underwriting Officer for Property and First Party Lines. In this global role, Mullarkey will lead the strategy for prop...
Posted: Sep 05, 2024
Digital risk processing platform Cytora has partnered with Overstone, the data-driven art evaluator, in a move that will allow speciality insurers to gain access to Overstone’s art intelligence through Cytora’s platform. From what we understand, t...
Posted: Sep 05, 2024
A new whitepaper from Zurich Insurance Group and Marsh McLennan underscores the urgent need for greater public sector involvement to strengthen societal resilience against catastrophic cyber events. As cyber threats evolve rapidly, they are outpac...
Posted: Sep 05, 2024
International insurance and reinsurance group Aventum has revealed that during this year its gross written premium (GWP) has reached a significant $1.86 billion, as the company confirms that it is now entirely owned by all of its employees as it w...
Posted: Sep 05, 2024
Delta Capita, a provider of financial services consulting, managed services, and technology solutions, has announced the appointment of Bhavesh Mulji as the UK Head of Insurance. Mulji, who will be based in London, will report directly to Sarah Ca...
Posted: Sep 05, 2024
Reinsurance renewals in 2024 have seen pricing gradually decrease, partly driven by an increase in alternative capital to $110 billion, combined with rate reductions being granted by reinsurers for the best performing risks. In its Reinsurance Ren...
Posted: Sep 05, 2024
Experienced reinsurance executive Hannah Njoki has joined Howden Re as Director – Reinsurance Broker East Africa. Njoki will reportedly be based in Dubai and work with Howden Re’s existing team to support clients across the East Africa...
Posted: Sep 05, 2024
BMS Re, the reinsurance division of global broker BMS Group, has appointed Brad Melvin as President and Chief Executive Officer (CEO) of BMS Re, US, effective from November, subject to regulatory approval. In the meantime, Group CEO Nick Cook and...
Posted: Sep 05, 2024
French reinsurer CCR Re has today announced profit of €970 million for the first half of 2024, up 7% year-on-year at current exchange rates, as the profitability of the firm’s non-life business improved. For CCR Re’s life business, tur...
Posted: Sep 05, 2024
Insurance Business Magazine - US
Posted: Sep 05, 2024
Posted: Sep 05, 2024
This edition of International People Moves details appointments at Brit Ltd. in Bermuda and HDI Global in Germany. A summary of these new hires follows here. Brit Names Guy Carpenter’s Stephenson to Lead Bermuda Expansion Brit Ltd. announced th...
Posted: Sep 05, 2024
A new Gallagher Re report that tracks the capital and profitability of the global reinsurance industry has revealed that total capital continued to climb during H1 of 2024, reaching $766 billion, up 5.4% from 2023. At the same time, the reinsuranc...
Posted: Sep 05, 2024
Asta, a third-party managing agent at Lloyd’s, has strengthened its senior management team with the addition of David Hopkins as deputy chief underwriting officer, Alex Poracchia as transformation director and Julie Flello as head of client manage...
Posted: Sep 05, 2024
Lloyd’s, the world’s oldest insurance and reinsurance marketplace, has reported a 24%, or £600 million year-on-year rise in underwriting profit to £3.1 billion for the first half of 2024, as the market produced its best interim combine...
Posted: Sep 05, 2024
Specialist Risk Group (SRG), the insurance intermediary, has acquired Capulus, the specialist motor fleet managing general agent (MGA), based in Wales. According to the announcement, Capulus’ team, which consists of 21 colleagues, will join...
Posted: Sep 05, 2024
Bishop Street Underwriters, the multi-boutique insurance platform owned by RedBird Capital Partners, has announced a strategic joint venture with Skyward Specialty Insurance Group to support growth of its Differentiated MGA Platform. The joint ven...
Posted: Sep 05, 2024
As the planet warms and more natural disasters occur, insurers are facing an increasingly difficult time. In 2023, for the fourth year in a row, global insured catastrophe losses exceeded $100 billion. The trend continues this year: In the first R...
Posted: Sep 05, 2024
A public inquiry into the devastating 2017 London Grenfell Tower blaze concluded on Wednesday that a “culmination of decades of failure” by the government and the construction industry ultimately led to the disaster that killed 72 people....
Posted: Sep 05, 2024
As litigation and regulation increase around per- and polyfluoroalkyl substances (PFAS), insurance underwriting is tightening across lines. Insurance professionals who specialize in PFAS say insurers are mandating coverage exclusions and, in some cas...
Posted: Sep 05, 2024
A public inquiry into the devastating 2017 London Grenfell Tower blaze that killed 72 people blamed the disaster on failings by the government, construction industry and, most of all, the firms involved in fitting the exterior with flammable cladding...
Posted: Sep 05, 2024
Volkswagen AG’s ex-Chief Executive Officer Martin Winterkorn denied duping customers and taking too long to alert markets about diesel-emission cheating, telling a German criminal court he was never properly informed about the vast scale of the...
Posted: Sep 05, 2024
A federal judge in San Francisco has ruled that roughly 150 older workers who were laid off by social media platform X when Elon Musk acquired the company can sue for age discrimination as a class, exposing the company to …
Posted: Sep 05, 2024
Relation Insurance Services reports it has acquired the assets of The Haney Company, Inc. of Silver Spring, Maryland. The transaction went into effect on May 1, 2024; terms were not disclosed. Haney offers employee benefits, commercial and personal i...
Posted: Sep 05, 2024
Inszone Insurance Services acquired Cascade Insurance Center in the Bend, Oregon. The Cascade Insurance Center team will continue to operate out of their Bend location under the Inszone Insurance Services umbrella. Sacramento, California-based Inszon...
Posted: Sep 05, 2024
The pilot of a plane that crashed in northeast Wyoming in July, killing seven people, declared an emergency and loss of the autopilot shortly before the incident that claimed the lives of three members of the Gospel Music Association Hall …
Posted: Sep 05, 2024
The pilot of a plane that crashed in northeast Wyoming in July, killing seven people, declared an emergency and loss of the autopilot shortly before the incident that claimed the lives of three members of the Gospel Music Association Hall …
Posted: Sep 05, 2024
Hexaware, an IT services and solutions provider, looks to accelerate insurance pricing transformation with its recent Earnix partnership, a global provider of AI-based SaaS pricing and rating solutions for financial services. The partnership aims...
Posted: Sep 05, 2024
A former patrol officer with the Metropolitan Police Department (MPD) was recently sentenced in U.S. District Court to 20 months in prison for his role in a bribery scheme in which he unlawfully provided non-public police information in exchange for...
Posted: Sep 05, 2024
A former patrol officer with the Metropolitan Police Department (MPD) was recently sentenced in U.S. District Court to 20 months in prison for his role in a bribery scheme in which he unlawfully provided non-public police information in exchange for...
Posted: Sep 05, 2024
A woman was intoxicated and using a partially automated driving system when she caused a March highway crash in Philadelphia that killed two people, authorities said as they announced homicide charges against the driver. State and federal investigato...
Posted: Sep 05, 2024
Distinguished Programs, a national insurance programmes manager, has appointed Ashley Mehyo as Vice President of Claims for its Fine Art and Collectibles programme. With over seven years of industry experience, Mehyo has specialised in Fine Art &#...
Posted: Sep 04, 2024
The integration of Addresscloud’s geolocation services and advanced mapping capabilities with Sapiens’ core P&C products offers insurers a stronger, more comprehensive solution.
Posted: Sep 04, 2024
The London-based InsurTech has named Brad Taylor U.S. head of revenue and Daniel McDonough Enterprise Account Executive.
Posted: Sep 04, 2024
By integrating One Inc’s digital payment processing with the Digital Edge core system platform, Cogitate is providing its customers with a single, comprehensive payment platform.
Posted: Sep 04, 2024
Kelly will lead the Verisk Innovation Accelerator team, tasked with developing innovations that meet the most pressing needs of the insurance industry.
Posted: Sep 04, 2024
New leadership to help French insurers reduce road risk and improve claims efficiency September 4, 2024, Cambridge, MA — Cambridge Mobile Telematics (CMT), the world’s largest telematics service provider, announced today...
Posted: Sep 04, 2024
policies will be underwritten by SiriusPoint. IMG.
Posted: Sep 04, 2024
“From our early days as a start-up to where we are now as an established company, we’ve always believed in creating an environment where excellence can thrive,” said Coterie CEO David McFarland.
Posted: Sep 04, 2024
This post is part of a series sponsored by Selectsys. In the fast-paced world of insurance, efficiency and accuracy are paramount. Insurance carriers, MGAs, and wholesalers are increasingly turning to Business Process Outsourcing (BPO) to streamline...
Posted: Sep 04, 2024