Reinsurance News
Global reinsurer Swiss Re has announced the appointment of Aisyah Fuad as Market Head Southeast Asia (South), effective 1 January 2025. Fuad joined Swiss Re in 2011 as an Associate Client Manager, Retakaful, where she worked as a multi-line treaty...
Posted: Dec 30, 2024
A statement from Jeju Air has revealed that Samsung Fire & Marine Insurance was the lead aviation insurer, while AXA XL served as the primary reinsurance provider for the plane that recently crash-landed at Muan International Airport in South...
Posted: Dec 30, 2024
Specialist insurer Hiscox has appointed Frank Lamantia as its new Chief Technology Officer in the U.S., where he will serve on the Hiscox US leadership team and the Hiscox Group Technology leadership team, effective January 21st, 2025. Lamantia wi...
Posted: Dec 30, 2024
Property catastrophe renewals were consistently oversubscribed at January 1 as reinsurer appetite increased more than demand, with a range of pricing outcomes as non-loss-impacted renewals saw risk-adjusted rate reductions of 5% to 15%, according...
Posted: Dec 30, 2024
Global insurance brokerage Arthur J. Gallagher & Co. has acquired Tustin, California-based Murray Gardner Insurance Agency Inc., dba BMR Insurance, a retail insurance agency that serves commercial and personal lines clients primarily across So...
Posted: Dec 30, 2024
CRC Group, a wholesale specialty insurance distributor in North America, is expanding its team with the addition of four new professionals to its team, Michael Schmitt, Sean McPhillips, Bailey Cadden and Blake Rios. Schmitt, who is joining CRC fro...
Posted: Dec 30, 2024
AM Best, a globally recognised credit rating agency specialising in the insurance sector, has maintained a Stable outlook for Malaysia’s non-life insurance market. This assessment is based on key factors such as anticipated premium growth driven b...
Posted: Dec 30, 2024
Amwins, a distributor of specialty insurance solutions, has published its 2025 Outlook: State of the Market Report, providing valuable insights into the shifting dynamics of the cyber insurance landscape. The cyber insurance market is facing incre...
Posted: Dec 27, 2024
China’s PICC Property and Casualty Company (PICC P&C) has entered into a new Reinsurance Framework Agreement with PICC Reinsurance, under which the two parties will cede insurance premiums to each other in exchange for commissions. This agreem...
Posted: Dec 27, 2024
Redline Underwriting, a Lloyd’s coverholder specialty underwriting firm, has announced the launch of its General Aviation Insurance solution, developed in collaboration with Allianz Commercial from their UK region. This new offering, designed spec...
Posted: Dec 27, 2024
In a recent Reinsurance News poll, industry experts and observers identified “getting more exposure data” as the most important factor for upcoming property catastrophe reinsurance renewals, with 44% of respondents selecting this optio...
Posted: Dec 27, 2024
Ratings agency AM Best has upgraded Legal & General Reinsurance Company No. 2 Limited’s (Bermuda) Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa-” (Superior) fr...
Posted: Dec 27, 2024
Saudi Reinsurance Company (Saudi Re) has commenced its subscription period for a capital increase, running from December 26th to 30th. The offering comprises 26,730,000 new ordinary shares, which represent 30% of the company’s current capital, wit...
Posted: Dec 27, 2024
Doha Insurance Group (DIG), a provider of insurance and reinsurance solutions in the Middle East and North Africa region, has revealed plans to open a reinsurance branch in the Republic of India. The insurer has obtained the approval of the Qatar...
Posted: Dec 27, 2024
Florida Insurance and Reinsurance Company (Florida Re), a property and casualty re/insurer serving commercial clients across Florida, has appointed Jeremy Baczkiewicz as its new Chief Underwriting Officer (CUO). Baczkiewicz brings over 21 years of...
Posted: Dec 27, 2024
Insurance services provider, Amynta Group has acquired the Credit Division of Crum & Forster (C&F), a subsidiary of Fairfax Financial Holdings Limited. According to the announcement, the business will operate as a full-service Managing Gen...
Posted: Dec 27, 2024
Global credit ratings agency AM Best has maintained its stable outlook on Japan’s life insurance market segment, citing in part the growth in premium income and stable core profits that are supported by higher levels of investment income. Ac...
Posted: Dec 27, 2024
According to a recent Swiss Re study, the Waymo Driver is safer than both the general driving population and the latest human-driven vehicles equipped with advanced driver assistance systems (ADAS). The study compared Waymo’s liability claims to b...
Posted: Dec 24, 2024
Equisoft, a global provider of digital business solutions for the insurance and wealth industries, has appointed Brian Simpson as Vice President, Insurance Solutions, USA. With over three decades of experience in the life, health, and annuity sect...
Posted: Dec 24, 2024
The insurance industry is still reaping the rewards of higher investment yields, although the effect is gradually diminishing, analysts at RBC Capital Markets have highlighted in a recent report. Property and casualty (P&C) insurers typically...
Posted: Dec 24, 2024
ICEYE, a provider of satellite-based disaster management solutions, has expanded its Earth Observation capabilities with the launch of two new SAR satellites. With these new satellites, ICEYE aims to expand its availability imaging technology to d...
Posted: Dec 24, 2024
Bermuda’s international Property and Casualty (P&C) re/insurance sector saw significant improvements in combined ratio and net income in 2023, driven by continued price improvements, stricter terms and conditions, limit and aggregation managem...
Posted: Dec 24, 2024
EigenRisk, Inc., a provider of catastrophe risk management solutions, has appointed Rebecca Morris as Vice President of Customer Success. Headquartered in Minneapolis, EigenRisk specialises in delivering cloud-based tools for managing property/cas...
Posted: Dec 24, 2024
In a new report analysing the U.S. residential flood insurance market, Neptune Flood has underlined the critical role private insurers can play in addressing the nation’s growing flood coverage gap. According to the firm’s research, more tha...
Posted: Dec 24, 2024
The previously announced $75 million adverse development cover (ADC) reinsurance agreement between a wholly owned subsidiary of legacy player Enstar Group and certain subsidiaries of Bermuda-domiciled insurance holding company, James River Group H...
Posted: Dec 24, 2024