Reinsurance News
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
Ryan Specialty has appointed Mark Birrell as Executive Chairman and James Montgomery (Monty) as Chief Executive Officer of Ryan Specialty Underwriting Managers International (RSUM International) effective January 1, 2025. According to Ryan Special...
Posted: Dec 02, 2024
According to a new AM Best report, a global credit rating agency, underwriting results in the US private passenger auto insurance sector have continued to stabilise in the first half of 2024, following improvements in 2023. As a result of the stro...
Posted: Dec 02, 2024
The European Insurance and Occupational Pensions Authority (EIOPA), which oversees the regulation and supervision of the insurance and pensions sectors in the European Union, is seeking feedback on its consultation paper regarding the creation of...
Posted: Dec 02, 2024
Pen Underwriting, a subsidiary of Arthur J. Gallagher & Co., has strengthened its marine practice with the appointment of Paul Wood to launch and lead a new London market yachts specialism. Wood has been appointed Product Lead for Yachts, and...
Posted: Dec 02, 2024
The California Earthquake Authority’s (CEA) reinsurance and risk transfer tower has contracted by a further 6% to $7.993 billion as of November 1st, 2024, as it opted to non-renew contracts to limit the amount of capacity in excess of its mi...
Posted: Nov 29, 2024
In 2023, around a quarter of the the insurance industry’s total premiums came from personal P&C insurance as the segment’s gross written premiums (GWP) represented around $1.1 trillion, with growth outpacing nominal global GDP in the per...
Posted: Nov 29, 2024
AXA’s Commercial unit has hired Mike Crane as SME & Specialty Director, effective January 2025. Crane’s appointment follows the departure of Deepak Soni in August. A renowned veteran across the sector, Crane has extensive experienc...
Posted: Nov 29, 2024
Global insurance intermediary group Howden has announced the appointment of Claire McDonagh and Mariana Weigel Munoz to its Accident & Health, Life, and Special Risks team. In their new positions, McDonagh’s and Weigel Munoz’s primary focus wi...
Posted: Nov 29, 2024
For the first nine months of this year, Barbados-based reinsurer Active Re saw its net reinsurance premiums expand by 20% year-on-year to $164 million, as the firm hails 2024 as “a period of significant achievements”. Established in 20...
Posted: Nov 29, 2024
Rokstone, a global specialist re/insurance MGA, has launched Disgrace Cover, an addition to its contingency product line. This policy also provides coverage for death and disablement, offering brands financial protection and reputation management...
Posted: Nov 29, 2024
CyberCube, a provider of cyber risk analytics, has warned that organisations must prepare for the escalating risk of unplanned technology outage events, primarily driven by a rise in cloud service provider outages and an increased frequency of ind...
Posted: Nov 29, 2024
Mario Wilhelm and Anthony Chaillet have left Swiss Re to leverage their combined experience across investments, re/insurance, and partnerships to establish insurance advisory firm, Rift Partners. The company aims to focus on expanding access to in...
Posted: Nov 29, 2024
Kiwi insurer Tower Limited has posted an underlying net profit after tax (underlying NPAT) of $83.5 million and a reported profit of $74.3 million for the financial year ended September 30, 2024. This increase was a significant turnaround from the...
Posted: Nov 29, 2024