Reinsurance News
Global insurance intermediary group Howden has announced the appointment of Azman Noorani as Global Practice Leader, Surety, effective 1 November 2024. Noorani will report to Mark Wood, Head of Global Specialty Practices, and will lead Howden’s ne...
Posted: Dec 03, 2024
The Trustee of the £1 billion Merchant Navy Ratings Pension Fund (MNRPF) has entered into a transaction with Metropolitan Life Insurance Company (MetLife) to manage longevity risk of around £450 million of pensioner and dependant liabilities. This...
Posted: Dec 03, 2024
As part of Saudi Arabia’s ongoing efforts to address the global impact of drought, the Kingdom, alongside its partners, has launched the Riyadh Global Drought Resilience Partnership at the opening of the 16th session of the Conference of the...
Posted: Dec 03, 2024
Global insurance brokerage WTW has confirmed its intention to re-enter the treaty reinsurance broking market via a joint venture with private investment firm, Bain Capital, with WTW set to hold a minority share in the new company. At its 2024 Inve...
Posted: Dec 03, 2024
The US property and casualty (P&C) insurance industry is experiencing a prolonged period of robust financial strength, with no clear end in sight. According to insurance research firm ALIRT, both commercial and personal lines are seeing record...
Posted: Dec 03, 2024
Ryan Specialty has revealed that net proceeds from a new $600 million notes offering will be utilised for future acquisition opportunities and investments consistent with its strategy. The specialty insurance services firm announced that Ryan Spec...
Posted: Dec 03, 2024
The U.S. Federal Emergency Management Agency (FEMA) has reported that as of November 12th, 2024, more than 56,000 policyholders have filed claims following the landfall of hurricane Helene, with National Flood Insurance Program (NFIP) payments to...
Posted: Dec 03, 2024
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