Reinsurance News
PIB Group Ltd, a specialist insurance intermediary, has entered the French market with the strategic acquisition of medical malpractice insurance business BEA Group and its subsidiaries. This investment, representing PIB’s 100th deal, marked...
Posted: Nov 11, 2024
Cytora, a premier digital risk processing platform, has formed a strategic alliance with Kroll, a leading independent global risk and financial advisory firm. This collaboration will allow commercial insurance underwriters to obtain real-time repl...
Posted: Nov 11, 2024
A recent survey by the Geneva Association reveals that appetite for more insurance is highest among Gen Z respondents (32%), particularly for private health and property insurance. The survey, conducted globally by the Geneva Association, polled 2...
Posted: Nov 11, 2024
Large European reinsurer Hannover Re has raised its profit target for 2024 on the back of a 30.4% rise in net income to €1.8 billion for the first nine months of the year, as the reinsurance service result increased by more than 36% to €2.1 billio...
Posted: Nov 11, 2024
Southlake Specialty Insurance Company, part of the Texas-based Southlake Financial Group, which specialises in program-focused property and casualty (P&C) insurance, has entered into a partnership with Accelerant, the data-driven Risk Exchange...
Posted: Nov 11, 2024
American International Group, Inc. (AIG) has elected Courtney Leimkuhler, co-founder and Managing Partner of Springbank, to its Board of Directors as an independent Director. An accomplished executive, Leimkuhler began her career in investment ban...
Posted: Nov 11, 2024
Helvetia, a Swiss insurance provider, has partnered with Coinnect, a cyber risk management platform, to implement advanced Cyber Insurtech solutions that enhance cyber risk assessment and support clients in mitigating cybersecurity threats. Throug...
Posted: Nov 11, 2024
CRC Group, a wholesale specialty insurance distributor in North America, has announced the hire of four new professionals to its team: Brian Mennes, Andrew Nash, Juliette Kelley and Matthew Walsh. Mennes has joined CRC Group’s Spring, TX office as...
Posted: Nov 11, 2024
While social inflation is certainly not a new subject within the re/insurance sector, the industry needs to continue to evolve to stay ahead, according to David Marra, Group Chief Underwriting Officer (CUO) of RenaissanceRe (RenRe). Marra discusse...
Posted: Nov 08, 2024
Sean M. Dalton, Executive Vice President of Munich Reinsurance America Inc., a subsidiary of reinsurance giant Munich Re, has been elected chair of the American Institute of Marine Underwriters (AIMU). Dalton, who is Head of Marine Underwriting, N...
Posted: Nov 08, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has created a new tailored cyber insurance endorsement for construction companies in the United States, designed to enhance their protection against c...
Posted: Nov 08, 2024
Home insurance firm Hippo has announced its financial results for the third quarter of 2024 reporting revenue growth of 65% year over year (YoY), with premium retention more in-line with risk-retention. For this quarter, the insurer reported $95 m...
Posted: Nov 08, 2024
The Fortegra Group, a global specialty insurer and a subsidiary of Tiptree Inc., has completed $150 million of 9.25% Fixed Rate Resetting Junior Subordinated Notes due 2064 (the Notes). With this investment, Fortegra aims to deepen partner relatio...
Posted: Nov 08, 2024
In its first nine months 2024 results, Coface recorded net income of €207.7 million, a 9.5% increase compared to the same period last year, while its revenue was down 2.1%, to €1,376.6 million compared to the €1,417.8 million reported in 9M 2023....
Posted: Nov 08, 2024
AM Best, the global credit ratings agency, has upgraded the Financial Strength Rating to C+ (Marginal) from C (Weak) and the Long-Term Issuer Credit Rating to “b-” (Marginal) from “ccc” (Weak) of Millî Reasürans Türk Anonim Şirketi (Milli Re) (Tür...
Posted: Nov 08, 2024
As losses from extreme weather increase, insurers are rapidly adopting AI risk assessment models, with one in four now using AI for convective storms and 18% for wildfires, according to a recent survey by ZestyAI. ZestyAI’s survey, which collected...
Posted: Nov 08, 2024
The third quarter of 2024 saw a significant rise in non-life insurance run-off deals, with 15 transactions—almost double the number in the first half of the year—bringing the total to 23 for the year so far, according to a recent PwC report. PwC h...
Posted: Nov 08, 2024
Industrial insurer HDI Global SE has appointed Dr. Stefan Pasternak, currently Chief Financial Officer (CFO) of Munich Re subsidiary, Great Lakes Insurance SE, to succeed Dr. Christian Hermelingmeier as its new CFO. Hermelingmeier moves internally...
Posted: Nov 08, 2024
Miller, an independent specialist in re/insurance broking, is pleased to announce the addition of Amanda Armitage and Scott Gorman to its Professional & Financial Lines division. Armitage joins Miller’s International Professions Team as Busine...
Posted: Nov 08, 2024
Insurance broker Marsh has announced the appointment of Alistair Fraser to the newly-created role of International Corporate & Commercial Leader, effective 1 January 2025. Alistair Brighton will take over Fraser’s role as CEO, Corporate &...
Posted: Nov 08, 2024
Trisura Group Ltd., the specialty insurance provider has released its financial results for the third quarter of 2024, which includes insurance revenue growth of 10.5%, climbing from $730.7 million to $807.6 million, which was primarily reflected...
Posted: Nov 08, 2024
Florida-based insurtech HCI Group reported consolidated gross premiums earned of $265.5 million for Q3 2024, an increase from last year’s $188.3 million, driven primarily by growth in Florida. The firm’s Q3 2024 net income was $9.4 million as comp...
Posted: Nov 08, 2024
During Munich Re’s Quarterly Statement Q3 2024 call, Chief Financial Officer (CFO) Christoph Jurecka expressed concerns about casualty pricing, describing it as too low and noting his surprise that prices haven’t risen more. “Casualty is a continu...
Posted: Nov 08, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has announced the appointment of Rhiannon Alban-Davies as Head of Fine Art & Specie for Asia. In her new role, Alban-Davies will be based in Hong...
Posted: Nov 08, 2024
In a bid to prevent legal confusion and the discouraging of innovation, Insurance Europe has urged the European Commission (EC) to withdraw its proposed Artificial Intelligence Liability Directive (AILD). While appreciating the EC’s commitment to...
Posted: Nov 08, 2024