Reinsurance News
Analysts at BofA Securities are forecasting a multi-year pricing cycle for Australian personal lines insurers, which will be primarily driven by concerns surrounding the impacts of climate change and rising peril exposures. The firm highlighted ho...
Posted: Nov 18, 2024
In a new circular, The Insurance Authority of Saudi Arabia has issued new rules on reinsurance cessions, requiring local insurers entering into reinsurance agreements to offer 30% of the overall cession to domestic reinsurers first. Effective Janu...
Posted: Nov 18, 2024
AdvantageGo, a commercial re/insurance software provider, has announced a strategic alliance with CyberCube, a provider of cyber risk analytics to the re/insurance industry, as it joins its Ecosystem to provide additional cyber-specific data and a...
Posted: Nov 18, 2024
RSA Insurance, a provider of commercial insurance, has launched a Climate Professionals Professional Indemnity (PI) insurance product. This is the first offering in the UK specifically designed for companies and consultants advising on sustainabil...
Posted: Nov 18, 2024
Coalition, an active insurer focused on preventing digital risks, has appointed Matt Foster as its Head of London Markets. In the role, Foster will serve as the lead underwriter for the London Market and complex risks, reporting to Stephen Wares,...
Posted: Nov 18, 2024
Although the rapid growth of the cyber insurance market may be slowing, it continues to present a compelling growth opportunity, but looking ahead, this will be fueled by different drivers and regional variations, with small and medium-sized enter...
Posted: Nov 18, 2024
HDI Global, a commercial and specialty lines insurer, has reported an improved year-over-year combined ratio of 90.5% from 92.7% for the first nine months of the year. The improvement was attributed to higher investment volumes and increased inter...
Posted: Nov 18, 2024
Accredited Insurance Holdings, a global programme manager, has appointed Steven J. Bensinger as a Non-Executive Director to its Group Board. Bensinger has over 45 years of industry experience and will join the Board on December 9th, 2024. He is al...
Posted: Nov 18, 2024
International specialty re/insurance MGA Rokstone, part of the Aventum Group, has received a regulatory license from the Dubai Financial Services Authority (DFSA) -the independent regulator overseeing business conducted within or from the Dubai In...
Posted: Nov 18, 2024
Marsh McLennan has completed its acquisition of insurance broking and risk management services provider McGriff Insurance Services, LLC. Founded in 1886, McGriff provides commercial P&C insurance, surety, employee benefits, and personal lines...
Posted: Nov 18, 2024
APOLLO Insurance, a Canadian digital insurance provider, has announced the appointment of Randall Rixon as Vice President of Partnerships. Rixon will be responsible for enhancing APOLLO’s embedded tenant insurance services for multi-family landlor...
Posted: Nov 18, 2024
Abry Partners, a Boston-domiciled private equity firm, and BHMS Investments, LP, a Connecticut-domiciled private equity firm, have completed the sale of Innovisk to Ryan Specialty, a global specialty insurance services firm. Founded in 2017, Londo...
Posted: Nov 18, 2024
Lloyd’s focused investment vehicle, Helios Underwriting, has updated the value of the company’s value of capacity portfolio, now expecting to decrease to £75 million at 31st December 2024. Michael Wade, Chairman of Helios, commented: &...
Posted: Nov 18, 2024
Go Balance Ltd, a provider of high-quality JREDD+ carbon credits, is proud to reveal a unique insurance feature for its Natural Capital Credits, setting a new benchmark for security and trust within the voluntary carbon market. This feature offers...
Posted: Nov 18, 2024
Specialist Risk Group (SRG), a specialist insurance intermediary, majority-owned by Warburg Pincus and Temasek, announces the appointment of Jaya Taylor as global leader for Group Regulatory Affairs, Risk, and Compliance reporting to CEO, Warren D...
Posted: Nov 18, 2024
GIC Re, the Indian public sector reinsurer, has reported an underwriting loss of approximately ₹2,376.95 crore for the half year ended on September 30th, 2024, (H1 2024), as compared to a loss of around ₹3,029.04 crore for the same period in 2023....
Posted: Nov 15, 2024
Aon, a global professional services firm, has been certified by the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) to launch its new Florida Flood v3.0 model statewide to assess flood exposures in the state and inform re/insu...
Posted: Nov 15, 2024
The Supervisory Board of R+V Versicherung AG, the parent company of the German R+V Group, has named Holger Nieswandt as a member of the Management Board. Effective April 2025, Nieswandt will oversee R+V Re. Currently serving as Head of Research &#...
Posted: Nov 15, 2024
Progressive, the property and auto-focused insurance group, reported $206.5 million in incurred vehicle losses, including boats and recreational vehicles, on a companywide basis related to Hurricane Milton and unfavourable development from Hurrica...
Posted: Nov 15, 2024
Global insurer Generali’s natural catastrophe losses came in roughly 100 basis points above budget for the first nine months of 2024, and as the firm’s portfolio continues to expand a higher nat cat budget is expected for 2025, althoug...
Posted: Nov 15, 2024
Aegis Executive Risks (AER), a division of Aegis General Insurance Agency and K2 Insurance Services, is pleased to announce the launch of its new Management Liability insurance program. This comprehensive offering is designed to protect executives...
Posted: Nov 15, 2024
The recent mountain fire which broke out on November 6 in Ventura County of Southern California is expected to drive notable insured losses, according to global insurance and reinsurance broking group Aon. The start of the wildfire in southern Cal...
Posted: Nov 15, 2024
EPIC Insurance Brokers & Consultants, a national insurance brokerage firm, is strengthening its leadership team with two significant executive promotions to better serve its specialised clients and employees. Philip V. Moyles has been appointe...
Posted: Nov 15, 2024
Argyle Insurance and Mitsui Sumitomo Insurance have entered into a multi-year capacity agreement, marking the start of a strategic partnership aimed at enhancing business insurance options for Australian SMEs. Beginning January 1, 2025, this partn...
Posted: Nov 15, 2024
The U.S. International Development Finance Corporation (DFC) will provide $50 million, in coordination with Aon, in political risk insurance (PRI) for a new reinsurance facility to ARX, an Ukrainian subsidiary of Fairfax Financial Holdings Limited...
Posted: Nov 15, 2024