Reinsurance News

Oceanview Secure Re appoints Brian Nocco to Board

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 parametric insurance pays out $20m in under 30 days after Milton’s landfall

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 partners with HUB International to strengthen cyber risk analytics for clients

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

Re/insurers’ operations exposed to cyber threats, says S&P

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 appoints François Périquet as Global Head of Engineering

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 adds three new senior hires to energy team

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

Florida Citizens sees policy count drop below 1 million as state market stabilises

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

Talanx issues its first $100m cat bond for earthquake risks in Chile

Talanx Group, the parent company of Hannover Re, has issued its first ever catastrophe bond, securing multi-year protection against earthquake risks in Chile. The bond, valued at USD 100 million, was issued via Maschpark Re Ltd., a special purpose...

Posted: Dec 05, 2024

Insured losses from nat cats to exceed $135bn in 2024: Swiss Re

With the US enduring two major hurricanes and numerous severe thunderstorms in 2024, it has contributed to at least two-thirds of the estimated global insured losses for the year, which exceed $135 billion, according to a new report from Swiss Re....

Posted: Dec 05, 2024

Economic threats still overshadow climate and cyber risks for G20 business leaders

Economic threats continue to overshadow climate and cyber risks as one of the top three near-term risks for business leaders in G20 countries, according to the Executive Opinion Survey, conducted by the World Economic Forum and released by Marsh M...

Posted: Dec 05, 2024

Zucker to replace Peppiatt as LIIBA’s Facilities Committee chair

LIIBA, the London and International Insurance Brokers’ Association, has named Price Forbes & Partners’ Greg Zucker, as the new chair of its Facilities Committee. Zucker, who currently serves as Facilitised Business Manager at Price Forbes &#38...

Posted: Dec 05, 2024

Ian Gibbard appointed Head of London Market at DOCOsoft

DOCOsoft, a provider of claims technology solutions, has announced the appointment of Ian Gibbard as Head of London Market. With over 30 years of experience in technology-driven solutions and London Market re/insurance. Gibbard brings a proven tra...

Posted: Dec 05, 2024

Constellation’s Chilean subsidiary acquires $2.1 bn annuity portfolio from Zurich

Constellation’s Latin American subsidiary, Ohio National Seguros de Vida – Chile, has acquired Zurich Insurance Group’s $2.1 billion annuity portfolio in Chile. Through this strategic move, previously announced in May 2023, Ohio Nation...

Posted: Dec 05, 2024

Pen Underwriting signs up to Flood Re’s Build Back Better Scheme 

Pen Underwriting, a subsidiary of Arthur J. Gallagher & Co., has announced that its specialist home insurance practice has signed up to Flood Re’s Build Back Better scheme to reduce the impact of future flooding on its customers by helping to...

Posted: Dec 05, 2024

EPIC strengthens Midwest presence with key appointments

EPIC Insurance Brokers & Consultants, a national insurance brokerage firm, has announced three key appointments in the Midwest region, further strengthening its presence in the St. Louis, MO area. The new hires bring decades of experience acro...

Posted: Dec 05, 2024

Suncorp partners with Duck Creek to modernise its insurance delivery solutions

Insurer Suncorp has entered a multi-year agreement with Duck Creek, a provider of software solutions for property and casualty (P&C) and general insurance, to aid in its ongoing journey of technology modernisation and process simplification. T...

Posted: Dec 05, 2024

Beazley Security appoints senior leaders to drive growth and expansion

Beazley Security, a provider of cyber risk management and insurance solutions, has announced the appointment of two senior leaders to drive its growth and geographic expansion. Stephanie Webb will lead sales operations in the UK and Europe, while...

Posted: Dec 05, 2024

Reinsurance market to stabilise next year, pricing to return to ~2023 levels: JP Morgan

Analysts at JP Morgan expect the reinsurance market to stabilise in 2025 with pricing at still healthy levels despite minor declines, while profitability should be supported by a continuation of firm terms and conditions as attachment points hold....

Posted: Dec 04, 2024

AXA XL appoints new Client Relationship Leaders for US East and West Zones

AXA XL, the property and casualty (P&C) and specialty risk division of AXA, has appointed Russell Caminske as Client Relationship Leader (CRL) for the US East Zone and Ryan Larson as the West Zone CRL. In their roles, Caminske and Larson will...

Posted: Dec 04, 2024

9M’24 results show $4.1bn underwriting gain for US P&C industry: AM Best

According to AM Best, the US property and casualty (P&C) industry posted a $4.1 billion net underwriting gain in the first nine months of 2024, in comparison to a $32.1 billion loss recorded in the prior year period. At the same time, the US P...

Posted: Dec 04, 2024

The Geneva Association announces two new leadership appointments

The Geneva Association has announced the appointment of Darren Pain as Director of Research and Dennis Noordhoek as Director of External Stakeholder Engagement, both effective 1 January 2025. Pain, who currently serves as Director Cyber and Evolvi...

Posted: Dec 04, 2024

ZestyAI partners with AFR to improve property risk assessment

ZestyAI, a provider of climate and property risk analytics powered by AI, has partnered with American Farmers & Ranchers Mutual Insurance Company (AFR), an insurance provider in Oklahoma’s rural sector for over a century. This collaborat...

Posted: Dec 04, 2024

Lancashire Insurance U.S. appoints Flude as CEO, Jones to become CUO

Bermuda-based Lancashire Holdings Limited has appointed James Flude as Chief Executive Officer (CEO) of Lancashire Insurance U.S., succeeding Huw Jones, who has been appointed to the new role of Chief Underwriting Officer (CUO) for Lancashire U.S....

Posted: Dec 04, 2024

AM Best revises outlook for US personal lines insurance to stable

Global credit ratings agency AM Best has revised its outlook for the US personal lines insurance segment to stable from negative, in line with a corresponding change in the personal auto outlook to stable from negative. According to the agency, th...

Posted: Dec 04, 2024

Q3’24 sees record value in buy-in & buy-out transactions of £20bn: Hymans Robertson

Hymans Robertson has reported that the total value of buy-in and buy-out deals completed in the third quarter of 2024 reached nearly £20 billion, marking the highest volume ever recorded for this period in any calendar year. This record quarter fo...

Posted: Dec 04, 2024