Reinsurance News
The April storms that struck the United Arab Emirates, Oman, Saudi Arabia and other Gulf Cooperation Council (GCC) countries are expected to “push up” local insurers’ claims and reinsurance costs, say’s Moody’s. Analysts no...
Posted: Apr 23, 2024
With natural disasters being on the rise across developing states in Asia, the implementation of parametric insurance and reinsurance appears to be a natural fit for the region, according to Tom Johansmeyer, Global Head of Index Classes, Inver Re....
Posted: Apr 23, 2024
Hymans Robertson has revealed that the total value of buy-in and buy-out deals completed in the second half of 2023 was just under £28 billion, which means that the total for the year to 31 December 2023 was £49.1 billion, setting an all-time high...
Posted: Apr 23, 2024
Cayman Islands-based reinsurer Topsail Re has hired Ginny Inscore as a Reinsurance Accountant. Overall, she brings 18 years of industry expertise working in the reinsurance field as an Assistant Vice President at Willis Re Inc., towards her new ro...
Posted: Apr 23, 2024
At the IIF 2024 – ESG in Insurance Conference, Petra Hielkema, Chairperson of the European Insurance and Occupational Pensions Authority, emphasised insurers’ pivotal role in combating climate change by educating society, factoring in risks,...
Posted: Apr 23, 2024
Property and casualty re/insurer W. R. Berkley Corporation has reported a Q1 2024 combined ratio of 88.8%, including current accident year catastrophe losses of $30.5 million, leading to a 31.8% rise in pre-tax underwriting income to $309 million....
Posted: Apr 23, 2024
Munich Re Life US, part of Munich Re Group, and Clareto, a Munich Re company, have unveiled a new digital solution called Automated EHR Summarizer, which is set to ensure efficient and accurate use of Electronic Health Record (EHR) data for automa...
Posted: Apr 23, 2024
Insurance brokerage firm, Brown & Brown has posted their results for the first quarter of 2024, which included net income of $293 million, increasing $57 million from the prior year period. Revenues for Q124 under US generally accepted account...
Posted: Apr 23, 2024
Liberty Mutual Reinsurance (LM Re), the reinsurance division of Liberty Mutual Insurance Group, has signed an exclusive partnership with Safehub, a technology provider in seismic sensor and risk management solutions, to offer a building-specific,...
Posted: Apr 23, 2024
MS Amlin, the Lloyd’s global re/insurer, has partnered with catastrophe risk modelling and solutions company, Moody’s RMS, as it invests in a new suite of modelling and insight solutions. Recently, the firm moved its Exposure Management team into...
Posted: Apr 23, 2024
A new report released by Lane Clark & Peacock (LCP) has highlighted significant disruption to mortality trends in the wake of the COVID-19 pandemic and the ongoing pressures on the healthcare system. The firm has addressed the challenge that t...
Posted: Apr 23, 2024
The specialist Lloyd’s insurance and reinsurance marketplace has granted Maksure Risk Solutions, an Afro-Global independent specialist re/insurance broker, Broker Status. As a Lloyd’s broker, Maksure now has direct access to a unique pool of under...
Posted: Apr 23, 2024
Global reinsurer Munich Re has announced a preliminary net profit of €2.1 billion for the first quarter of 2024, as the firm highlights a better than expected operational performance across all lines of business. Munich Re will release its full Q1...
Posted: Apr 23, 2024
Following unprecedented rainfall and widespread flooding in the United Arab Emirates (UAE), concerns have arisen regarding the local insurance sector’s capacity to handle the expected surge in motor and property damage claims, according to a...
Posted: Apr 23, 2024
Specialty Managing General Agent Nexus Group has announced the appointment of Steve Willett as Head of Development. In his new role, Willett will mainly focus on expanding Nexus’ Financial Lines team’s global footprint and broking base, in additio...
Posted: Apr 23, 2024
RLI Corp., a specialty insurer serving property, casualty and surety markets, has reported Q1 2024 net earnings of $127.9 million, compared to $98.8 million a year earlier. The insurer has announced underwriting income of $77.7 million on a combin...
Posted: Apr 23, 2024
The General Insurance Association of Japan (GIAJ) has released new insurance claims data for the January 1st M7.5 earthquake that hit near the Noto Peninsula in Ishikawa prefecture, revealing that the claims paid total has risen by around 22% in a...
Posted: Apr 23, 2024
Arch Insurance International, part of Bermuda based re/insurer Arch Capital Group Ltd., has appointed Kirsten Valder as its new Deputy Chief Executive Officer (CEO), effective immediately. Valder will be based in London and will continue to report...
Posted: Apr 23, 2024
Macquarie Insurance Facility has expanded its insurance capabilities after gaining approval as a Lloyd’s coverholder, and has subsequently partnered with Mosaic Insurance to write Transactional Liability Insurance on a delegated authority basis. T...
Posted: Apr 23, 2024
Global re/insurance broker WTW has announced the appointment of Danielle Lombardo as Chair, Real Estate, Hospitality, and Leisure (REHL) division, Corporate Risk and Broking (CRB) North America. With more than fifteen years of experience in the in...
Posted: Apr 23, 2024
A new report by Arturo, a property intelligence company offering AI-based solutions to insurers, has emphasised the urgent need for predictive data and science-based measures to mitigate the growing risks of hailstorms on homes in Colorado, one of...
Posted: Apr 23, 2024
United Risk Global, the international property and casualty insurance underwriting and distribution platform, and division of Applied Underwriters, has appointed Jay Cahill as Chief Financial Officer (CFO), effective May 1, 2024. The appointment w...
Posted: Apr 23, 2024
Analysts at Moody’s Investors Service anticipate robust growth in the UK bulk purchase annuities (BPAs) market, projecting strong profits and capital gains for life insurers throughout 2024. Despite the influx of new capital, Moody’s predicts that...
Posted: Apr 22, 2024
The Fidelis Partnership, previously known as Fidelis MGU, has recently appointed Douglas Somerville as its new Head of Capacity and Ceded Reinsurance. Somerville brings 14 years of industry experience to his new role, offering a wealth of expertis...
Posted: Apr 22, 2024
A Redfin survey has found that nearly three-quarters (70.3%) of Florida homeowners and over half (51%) of California homeowners have seen a rise in insurance costs or change in coverage in the past year. The survey was fielded to 2,995 homeowners...
Posted: Apr 22, 2024