Reinsurance News
Everest Insurance, the insurance division of Bermuda-domiciled re/insurer Everest Group, has made two key leadership appointments within its US Casualty business. Nina Corbo has been named Head of US Primary Casualty, meanwhile, Debbie Weiser has...
Posted: Nov 13, 2024
Fidelis Insurance Group has disclosed a Q3 2024 net income of $100.6 million, up from $87.7 million in the same period of last year, despite catastrophe and large losses increasing to $91.6 million. Fidelis’ underwriting income in Q3 2024 wa...
Posted: Nov 13, 2024
Brazilian reinsurer IRB (Re) has announced its financial results for the third quarter of 2024, reporting an improved net income of R$116 million (USD 20.18 million), as well as an underwriting profit of around R$118 million (USD 20.52 million). I...
Posted: Nov 13, 2024
Somerset Reinsurance Ltd., a provider of reinsurance solutions for the life insurance and annuity market, has named Riley LaTour as its new Chief Risk Officer (CRO), effective immediately, based in Bermuda. In this new role, LaTour will be respons...
Posted: Nov 13, 2024
In its Q3 2024 results, Allianz has revealed that net income attributable to shareholders was €2.5 billion, up from €2 billion in the same period of last year, driven by a higher operating profit. Allianz also disclosed that total business volume...
Posted: Nov 13, 2024
The U.S. Federal Emergency Management Agency (FEMA) has said that Hurricane Helene could drive National Flood Insurance Program (NFIP) claims of up to $7 billion, including loss adjustment expenses, with more than 55,000 flood loss claims reported...
Posted: Nov 13, 2024
Global insurer American International Group, Inc. (AIG) has appointed Christopher Schaper as its new Chief Risk Officer on a permanent basis, effective immediately. He has held the same role on an interim basis since September 2024, while also ser...
Posted: Nov 13, 2024
Sedgwick, a global provider of claims management, loss adjusting and technology-enabled business solutions, has announced the closing of a $1 billion investment in the company led by Altas Partners, a North American private equity firm. Current in...
Posted: Nov 13, 2024
Gallagher Bassett, a provider of risk and claims management services and a wholly owned subsidiary of brokerage Arthur J. Gallagher & Co., has announced the appointment of Ajay Sinha as Managing Director — Captive Practice. In a recent LinkedI...
Posted: Nov 13, 2024
In an effort to effectively manage risk, re/insurers are continuing the use of capital markets to access catastrophe bonds amid a firm market, driving up the issuance of insurance-linked securities (ILS), a trend that is expected to persist, Fitch...
Posted: Nov 13, 2024
Assured Guaranty Ltd. (AGL) has released its financial results for the third quarter of 2024, which includes a net income of $171 million in comparison to $157 million from the third quarter of 2023. At the same time, the firm posted an adjusted o...
Posted: Nov 13, 2024
BBVA Corporate & Investment Banking (CIB) has announced the expansion of its client advisory services with the formation of a dedicated insurance financial advisory team. With this addition, BBVA CIB strengthens its capacity to offer customise...
Posted: Nov 13, 2024
According to ratings agency AM Best, the upcoming changes to the UK’s solvency regulations – which are expected to be finalised in November – are likely to bring positive impacts to UK insurers. The reforms follow the Prudential...
Posted: Nov 12, 2024
Aspen Insurance Group, a specialty insurer and reinsurer, has announced the promotion of Lesley Borg to Head of Power and Midstream, a London-based role. Borg has been part of Aspen since 2016, when she joined the company as Head of International...
Posted: Nov 12, 2024
Maiden Holdings, Ltd. has posted a $34.5 million net loss for the third quarter of 2024, compared to a net loss of $3.5 million for the third quarter of 2023. The firm attributes the net loss towards an underwriting loss of $18.8 million in Q3 202...
Posted: Nov 12, 2024
Emerald Bay Risk Solutions, a collaborative underwriting carrier specialising in tailored insurance solutions, has formed a strategic partnership with Vanderbilt Properties Associates, Inc., a risk purchasing group managing a significant portfolio...
Posted: Nov 12, 2024
TransRe, a reinsurance company wholly owned by Alleghany Corporation, has announced the appointment of Abdeladim Bousselam as Head of MEA, effective January 1, 2025. In his new role, Bousselam will report directly to Julien Mollinier, President of...
Posted: Nov 12, 2024
Karen Clark & Company, a provider of catastrophe risk modelling and analytics, has announced that its KCC US Flood Reference Model Version 2.0 has received certification from the Florida Commission on Hurricane Loss Projection Methodology (FCH...
Posted: Nov 12, 2024
Fitch Ratings has revised the outlook on all the ratings of Australia-based QBE Insurance Group Limited and its subsidiaries to Positive from Stable, while affirming QBE’s Long-Term Issuer Default Rating at ‘A-‘ and the Insurer F...
Posted: Nov 12, 2024
Lockton Re, the reinsurance arm of the independent insurance broker, has announced the appointment of Jemima Hopper as a Broker in its Cyber Practice. Hopper, who is ACII qualified, brings valuable expertise in cyber reinsurance broking, along wit...
Posted: Nov 12, 2024
As the autumn conference season concludes and the reinsurance industry shifts its focus to the January renewals, we spoke with MS Reinsurance’s Charlie Goldie, Chief Underwriting Officer, for his insights on the discussions at RVS in Monte Carlo a...
Posted: Nov 12, 2024
Data-driven reinsurance and analytics specialist Envelop Risk has launched Envelop Underwriting, appointing Dom Peters to lead the newly established division as CEO. According to the firm, Envelop Underwriting will encompass all existing underwrit...
Posted: Nov 12, 2024
Howden, a global insurance intermediary group, has acquired Storfield Insurance Consultants Ltd (Storfield), a specialist in general insurance for small-to-medium-sized enterprises (SMEs) and high-net-worth (HNW) clients. This acquisition strength...
Posted: Nov 12, 2024
In the coming years, UK insurance companies are projected to report steady yet slowing premium income growth; a trend that is expected to persist throughout 2024, 2025, and 2026 as consumer premium increases return to average levels, according to...
Posted: Nov 12, 2024
Jean-Jacques Henchoz, Member of the Board of Management at Talanx AG with responsibility for the Reinsurance division, will not extend his expiring contract and will depart from the Board on 31 March 2025, with Clemens Jungsthöfel, Chief Financial...
Posted: Nov 12, 2024