Reinsurance News
Swiss Re’s November 2024 Macro Outlook highlights the dominance of politics and policy, with key developments including its revision to US inflation and interest rate forecasts due to President-elect Trump’s victory, increased UK polic...
Posted: Nov 25, 2024
Octaviant Financial has announced that Starr Insurance will join its partnership with Marsh to offer drug warranty services that enable pharmaceutical companies to guarantee the effectiveness of high-cost therapies. Through this partnership, Octav...
Posted: Nov 25, 2024
Nearly one in seven (13.7%) US home hunters say a concern for natural disasters or climate risks within their area is a reason they are likely to move in the next year, according to a new report from Redfin, the technology-powered real estate brok...
Posted: Nov 22, 2024
The 2024-2026 outlook for reinsurers’ earnings looks positive following the robust operating results seen in 2023 where reinsurers achieved their highest profits in years, S&P analysts stated in a recent report. Growth in 2023 was fueled by de...
Posted: Nov 22, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, is providing $30 million in insurance to the Bahamas conservation debt swap, which aims to unlock $124 million for ocean protection. In a bold move to...
Posted: Nov 22, 2024
Legal & General has completed a record $2.2 billion in Pension Risk Transfer (PRT) business in the US in 2024, marking its largest year in the market to date. Having entered the US PRT market nine years ago, Legal & General completed its f...
Posted: Nov 22, 2024
Ratings agency AM Best maintains a positive market segment outlook for the delegated underwriting authority enterprise (DUAE) segment, driven by sustained growth and niche expertise, despite potential challenges arising from capacity issues and ra...
Posted: Nov 22, 2024
Brazilian reinsurer Austral Re has achieved steady growth since launching its strategic plan for Guarantee Insurance in Latin America (LatAm) two years ago, with subscribed premiums reaching R$ 100 million by September and an expected R$ 110 milli...
Posted: Nov 22, 2024
Itasca MGA Limited, an aviation-focused managing general agent formed by Castlelake and Pine Walk Capital, a subsidiary of The Fidelis Partnership, announced its insurance support for Elevate Capital Partners in securing a financing solution for t...
Posted: Nov 22, 2024
Hanwha Life, a South Korean life insurance company, has agreed to acquire a 75% stake in the parent of Velocity Clearing, an US-based global financial services firm. The Velocity Clearing management team will retain the remaining minority stake in...
Posted: Nov 22, 2024
The overall ability of insurance to offset financial risks stemming from catastrophic events, including climate-related events, is relevant to the creditworthiness of issuers and debt instruments outside of the insurance sector, according to S&...
Posted: Nov 22, 2024
Oceanview Reinsurance Ltd., the Bermuda-domiciled reinsurance subsidiary of Oceanview Holdings Ltd., has promoted Stelian Dragan to the newly created role of President and Chief Executive Officer (CEO) of its Bermuda operations, effective immediat...
Posted: Nov 22, 2024
Fitch Ratings has stated that the recently proposed capital surcharges by the European Insurance and Occupational Pensions Authority (EIOPA) on fossil fuel-related assets will not impact the ratings of European insurers. These surcharges are unlik...
Posted: Nov 22, 2024
CFC, an insurance provider specialising in cyber risk, has announced the launch of a new office in Amsterdam as part of its ongoing expansion in Europe. This new office will focus on strengthening CFC’s transaction liability offering for brokers a...
Posted: Nov 22, 2024
Ascot, the Bermuda-based global specialty insurance group, has announced the appointment of Anthony Mandica as Group Head of Internal Audit. Mandica will remain based in Ascot’s Iselin, New Jersey office, reporting both to the Ascot Group Limited...
Posted: Nov 22, 2024
CCRIF SPC (Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company) has paid The Government of Panama $26.7 million within two weeks of a rainfall event that affected that country from October 31st to November 4th, 2024. Francis...
Posted: Nov 21, 2024
Global speciality insurance and reinsurance group, Chaucer has announced the appointment of Jonathan Ng as a new Class Underwriter in Political Risk, Singapore. The executive is joining Chaucer from AXA XL, where he specialised in political risk u...
Posted: Nov 21, 2024
Canada Life Reinsurance, a provider of reinsurance solutions for life and health, recorded solid earnings of $210 million for the third quarter of 2024, accounting for 20% of Canada Life Assurance Company’s total earnings for the period. For...
Posted: Nov 21, 2024
Allstate, the US primary insurer has reported estimated catastrophe losses of $286 million for the month of October, which includes $102 million, pre-tax from hurricane Milton, taking total catastrophe losses for October year-to-date to $4.84 bill...
Posted: Nov 21, 2024
Re/insurance broker Arthur J. Gallagher & Co. has acquired Santiago-domiciled retail insurance broker THB Chile. The terms of the transaction were not disclosed. The retail insurance broker provides property & casualty, life and health ben...
Posted: Nov 21, 2024
According to a new Cyber Roundup Report published by Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs) and mid-market businesses, companies with revenues surpassing $50 million (£40.5m) are 2.5 times more likely...
Posted: Nov 21, 2024
ACORD Solutions Group, a provider of digital solutions for the global insurance industry, has appointed industry veteran James Pring as the company’s Director of Business Development, where he will lead strategic direction for the organisationR...
Posted: Nov 21, 2024
Most risk leaders (80%) are concerned about their organisation’s capability to respond adequately to risks that might emerge in the next decade, as only two in ten (20%) believe in their companies’ resilience, a recent WTW survey has reveale...
Posted: Nov 21, 2024
Markel, the insurance division of Markel Group Inc., has announced the appointment of David Pressman as Senior Underwriter, Marine Cargo, effective immediately. In his new role, Pressman will contribute to the strategic growth of Markel’s Ma...
Posted: Nov 21, 2024
Heading into the January 1 renewals, unless there’s a major catastrophe, property and casualty (P&C) reinsurance prices are expected to decline, according to analysts at Morgan Stanley. The 2025 reinsurance market outlook is shaped by a...
Posted: Nov 21, 2024