Reinsurance News
Liberty Mutual Insurance Global Risk Solutions (GRS) has appointed Marc Orloff as President for North America, effective January 1st, 2025, reporting to Neeti Bhalla Johnson, GRS President. Dieter Korte, currently Chief Underwriting Officer, GRS N...
Posted: Dec 03, 2024
S&P Global Ratings has revised the African Reinsurance Corporation’s (Africa Re) financial rating outlook to Positive from Stable while affirming its A- global scale financial strength ratings. The rating agency highlighted Africa Re’s strong...
Posted: Dec 03, 2024
As part of its new strategic cycle, Ageas UK has made a number of changes to its Executive leadership team, adjustments that reflect the company’s ongoing dedication to achieving growth within the personal lines broker market. As part of the...
Posted: Dec 03, 2024
Global insurer American International Group, Inc. (AIG) has successfully closed the previously announced sale of its global individual personal travel insurance and assistance business, including Travel Guard, to Zurich Insurance Group. It was pre...
Posted: Dec 03, 2024
Insurer and reinsurer Ascot has appointed Mark Benz as Executive Vice President, Head of Alternative Risk Solutions, based in the New York City area. Benz joins Ascot from AXA, where he reportedly built out the Group Captive Practice while leading...
Posted: Dec 03, 2024
Insurtech wefox Holding AG has reached an agreement with a group of Swiss companies (led by independent Swiss pension service provider BERAG) on the sale of Liechtenstein-based wefox Insurance AG. This follows the news from June about a restructur...
Posted: Dec 03, 2024
Aon, the global insurance and reinsurance broker, has named Anne Corona as the Chief Executive Officer (CEO) of Enterprise Clients and Global Chief Commercial Officer, effective January 1st, 2025. This appointment aligns with the firm’s stra...
Posted: Dec 03, 2024
International Re (I-RE), a specialist captive insurance and reinsurance managing general agent (MGA), has increased its commercial property insurance limit up to $15 million from $5 million for its RE–PAID product. At the same time, the organisati...
Posted: Dec 03, 2024
The board of directors of China Reinsurance (Group) Corporation, the country’s largest reinsurance firm, has announced the retirement of Wang Xiaoya. Xiaoya has stepped down as Non-Executive Director, Vice Chairlady, and member of the Board&...
Posted: Dec 03, 2024
Mitsui Sumitomo Insurance Group subsidiary MS Amlin, has joined the Berne Union as Observer Member alongside ABGF of Brazil, becoming the association’s two most recent additions. MS Amlin will join the MLT Committee, while ABGF will participate in...
Posted: Dec 03, 2024
AM Best, the global credit ratings agency, is maintaining its stable market segment outlook on the US commercial lines insurance sector for 2025, supported by the segment’s strong underwriting performance and improved investment returns, bot...
Posted: Dec 02, 2024
CyberCube, a provider of cyber risk analytics, has partnered with Penguin Tech, an integration and consulting provider, to deliver enhanced solutions that help insurers better understand, manage, and mitigate cyber threats. Through this collaborat...
Posted: Dec 02, 2024
With Storm Bert affecting counties across England and Wales, parametric flood insurance provider FloodFlash has revealed that it made a payout to a client in just over 10 hours after a trigger was activated. According to Ian Bartholomew, Chief Und...
Posted: Dec 02, 2024
McGill and Partners, the independent global specialty insurance and reinsurance broker, has appointed Andre du Preez as Head of Emerging Technology, who joins the firm from Miller. Based in London, Preez joins the re/insurance broker with notable...
Posted: Dec 02, 2024
US-based independent reinsurance broker, the Holborn Corporation has announced the appointment of Frederic Gindraux as Senior Vice President, Claims Advisory. Based in New York, Gindraux will collaborate with Holborn’s clients, client-facing teams...
Posted: Dec 02, 2024
Analysts at Moody’s Ratings have suggested that the potential acquisition of Direct Line by Aviva could bring credit positive benefits to both firms. Late last month, Direct Line rejected Aviva’s £3.28 billion 100% acquisition proposal, stat...
Posted: Dec 02, 2024
Florida’s property insurer of last resort, Citizens Property Insurance Corporation, has projected that it will need to purchase $4.453 billion of reinsurance from the traditional and capital markets for 2025, although the overall size of the firm&...
Posted: Dec 02, 2024
Allianz has acquired the general insurance business of the Royal Automobile Association of South Australia Incorporated (RAA), expanding its consumer insurance presence in South Australia. The insurer’s partnership with the RAA, worth AUD$6422 mil...
Posted: Dec 02, 2024
PIB Group, the specialist insurance intermediary, has acquired a Netherlands domiciled commercial lines insurance broker and managing general agent (MGA) platform, Thoma Exploitatie BV and its subsidiaries. The acquisition, which remains subject t...
Posted: Dec 02, 2024
Aon, the global insurance and reinsurance broker, has announced the successful renewal and expansion of the Aon Client Treaty (ACT), the firm’s flagship London Market placement facility that helps clients respond to complexity with new sourc...
Posted: Dec 02, 2024
Africa Specialty Risks (ASR), an African and Middle Eastern re/insurance group, has confirmed that ASR Middle East has commenced operating as a Lloyd’s service company, which allows it to underwrite in Dubai on behalf of ASR Syndicate 2454,...
Posted: Dec 02, 2024
European savings and retirement services group Athora, has appointed Rakesh Thakrar as interim Group Chief Financial Officer (CFO), effective immediately, succeeding Anders Malmström who will leave the organisation in early 2025 to assume an execu...
Posted: Dec 02, 2024
International Speciality re/insurance MGA Rokstone, which is part of the Aventum Group, has acquired a second box at Lloyd’s, just six months after the announcement of its first. Rokstone has secured box 398a, alongside its existing box 398, on Ga...
Posted: Dec 02, 2024
SIGNAL IDUNA Reinsurance Ltd (SI Re), a Swiss reinsurer headquartered in Zug, has announced that Dr Robert Salzmann has been appointed to the Executive Board and designated as Chief Underwriting Officer, effective 1 January 2025. This move ensures...
Posted: Dec 02, 2024
The Rt Hon Shabana Mahmood MP, Lord Chancellor, has announced today that the Personal Injury Discount (Ogden) Rate will increase to 0.5%, effective from 11 January 2025. For those unaware, the Ogden rate is a figure which courts must consider when...
Posted: Dec 02, 2024