Reinsurance News
Commercial and specialty lines insurer HDI Global has announced the appointment of Hannah Brooke as Head of Marine Cargo Underwriting for the UK and Ireland, effective from January 1, 2025. Reporting to Antonia Osborne, Director of Underwriting-Co...
Posted: Dec 06, 2024
Zurich-based catastrophe insurance data provider PERILS has revised its industry loss estimate for the third time, confirming the total cost of the floods in southern Germany, which occurred between May 31st and June 6th, 2024, at €1,582 million....
Posted: Dec 06, 2024
Insurtech company Sola has closed its seed round, bringing total funding to $3.7 million, furthering its mission of providing affordable, reliable natural disaster insurance to homeowners and businesses. Sola aims to tackle the challenges of a vol...
Posted: Dec 06, 2024
Global reinsurance firm Oak Re has announced the appointment of James Irvine as chief underwriting officer (CUO), property, a London-based role. The executive will be joining the company in spring 2025, and report directly to Cathal Carr, chief ex...
Posted: Dec 06, 2024
Concert Group Holdings (Concert), a privately owned insurance holding company, has promoted Scott Stosek to the newly-created positions of Director of Finance, Concert Group, and Chief Financial Officer (CFO) of Harmony Re, the firm’s risk retenti...
Posted: Dec 06, 2024
In response to the Philippines’ rapid economic growth and rising demand for innovative insurance solutions, particularly in infrastructure investments and natural disaster risk mitigation, KRM has announced it is bolstering its leadership te...
Posted: Dec 06, 2024
IT and financial leaders at the UK’s largest firms have a poor understanding of cyber risk as a financial risk, despite 74% of mid-to-large UK businesses experiencing cybercrime, according to a new survey by cyber risk solutions provider Resilienc...
Posted: Dec 06, 2024
Aviva and Direct Line have announced that they have reached a preliminary agreement on the financial terms of a potential acquisition of Direct Line’s entire share capital by Aviva. This newly agreed deal represents a total consideration val...
Posted: Dec 06, 2024
LK Re, a specialist in reinsurance brokerage and Singapore subsidiary of LK Insurance Brokerage, has been selected as a registered broker by Lloyd’s in the UK. This move marks the first time that an overseas subsidiary established by a Korean insu...
Posted: Dec 06, 2024
Ventis, a Managing General Agent (MGA) specialising in Commercial and Residential insurance, has announced the appointment of Fiona Young as Senior Underwriter. In her new role, Young will manage a panel of partner brokers, leveraging her technica...
Posted: Dec 06, 2024
Global credit ratings agency AM Best has maintained its stable outlook for the US life/annuity insurance segment, citing strong capitalisation across the industry, as well as robust top-line growth in core lines of business and consistent profitab...
Posted: Dec 06, 2024
Ryan Specialty, an international specialty insurance firm, has announced two key leadership appointments for its international financial lines managing general underwriter, Ryan Financial Lines (RFL), effective January 1, 2025. Richard Winborn has...
Posted: Dec 06, 2024
Vitesse, a global treasury and payment provider for the insurance industry, has officially launched its United States operations with the establishment of New York-based Vitesse Trust Company, LLC. The New York State Department of Financial Servic...
Posted: Dec 06, 2024
A new white paper from reinsurance company Munich Re reveals that the 2024 tropical cyclone season, characterised by unusually severe storms, ranks among the costliest of the past decade, with losses significantly surpassing the ten-year average....
Posted: Dec 05, 2024
Antares Global Management Limited has announced its leadership structure for the newly created Commercial Division, consisting of Syndicate 1274 and Bermuda-based Antares Re, through new appointments. The division is headed by Mark Graham, CEO of...
Posted: Dec 05, 2024
The International Association of Insurance Supervisors (IAIS) has adopted the global Insurance Capital Standard (ICS), aiming to promote a resilient insurance sector. IAIS members have also reportedly endorsed substantial updates to the IAIS Insur...
Posted: Dec 05, 2024
The Board of Directors of Prudential Financial, the US insurance and investment firm, have appointed Andrew Sullivan as the company’s next Chief Executive Officer (CEO), effective March 31st, 2025, succeeding Charles F. Lowrey Sullivan is cu...
Posted: Dec 05, 2024
Global insurance group AXA has become a new member of the Stanford Institute for Human-Centered AI (HAI) Corporate Affiliate Program. Through collaboration with Stanford faculty, the program aims to promote responsible artificial intelligence deve...
Posted: Dec 05, 2024
Oceanview Secure Reinsurance Ltd., a subsidiary of Oceanview Holdings Ltd., a provider of annuities and reinsurance solutions, has appointed Brian W. Nocco to its Board of Directors after receiving approval from the Cayman Islands Monetary Authori...
Posted: Dec 05, 2024
Arbol, a global climate risk solutions platform, has delivered $20 million payouts for parametric reinsurance programs triggered by Hurricane Milton in Florida within a month after landfall. The parametric reinsurance programs, designed to protect...
Posted: Dec 05, 2024
CyberCube, a provider of cyber risk analytics solutions, has announced a new partnership with HUB International (HUB), an insurance brokerage and financial services firm. Through this collaboration, HUB will harness CyberCube’s software and expert...
Posted: Dec 05, 2024
According to a new report by S&P Global, insurers and reinsurers are exposed to cyber threats, with the potential for a direct attack to impact their operations, potentially costing a significant portion of their average annual earnings. Re/in...
Posted: Dec 05, 2024
HDI Global, a commercial and specialty lines insurer, has appointed François Périquet as its new Global Head of Engineering, effective February 1, 2025. Périquet succeeds Dieter Spaar, who is retiring after eight years in the role. He will report...
Posted: Dec 05, 2024
BMS, an independent insurance and reinsurance broker, has announced the appointment of three new senior energy industry experts to its fast-growing energy team in London: Charlotte Marsh, Jack Palmer, and Toby Hanington. Marsh, who has been appoin...
Posted: Dec 05, 2024
With conditions in the Florida property insurance market reportedly continuing to improve, Citizens Property Insurance Corporation’s policy count has dipped below 1 million for the first time in more than two years. Florida’s property insurer of l...
Posted: Dec 05, 2024