Reinsurance News
According to S&P Global Ratings, the deadly flash floods that hit the Valencia region of Spain will have “limited effects” on private insurers and reinsurers, given that the Consorcio de Compensación de Seguros (CCS), the instituti...
Posted: Nov 08, 2024
Ageas Re, the reinsurance brand of international insurance group Ageas, has opened a new branch in Zurich and appointed Anne Deister as Branch Manager. The establishment of Ageas SA/NV Zurich Branch (Ageas SA/NV, Brussels, Swiss Branch Zurich) all...
Posted: Nov 08, 2024
Jean-Jacques Henchoz, Chief Executive Officer (CEO) of large European reinsurer Hannover Re, has decided to leave the company and will be succeeded by Clemens Jungsthöfel, effective April 1st, 2025. Henchoz, who has led the reinsurer since 2019, r...
Posted: Nov 08, 2024
Global legacy re/insurance specialist Enstar Group Limited, has confirmed it is to be acquired by Sixth Street after it received the necessary shareholder approval. Sixth Street had previously proposed to acquire Enstar in a $5.1 billion transacti...
Posted: Nov 08, 2024
Australian insurance broking and distribution group Steadfast has acquired H.W. Wood Limited and HWI France to expand its London market capabilities for a purchase price of £23.5 million. The acquisition will be funded from Steadfast’s existing co...
Posted: Nov 08, 2024
As part of its long-term succession planning, Bermuda-headquartered insurer and reinsurer Arch Capital Group Ltd. has, effective immediately, promoted David Gansberg to President of Arch’s Insurance Group and Maamoun Rajeh to President of Arch’s M...
Posted: Nov 08, 2024
Russell Higginbotham is leaving reinsurance giant Swiss Re after three decades with the company, with Jonathan Rake taking over as Chief Executive Officer (CEO) of Swiss Re Solutions, effective January 1st, 2025. Rake joined Swiss Re from Zurich i...
Posted: Nov 08, 2024
Everest Reinsurance, the reinsurance division of Bermuda-domiciled Everest Group, Ltd., has appointed Emily Davis to lead its Global Specialties business, reporting line to Jill Beggs, Reinsurance Executive Vice President and Chief Operating Offic...
Posted: Nov 08, 2024
Trium Cyber, the authorised service company for Syndicate 1322 at Lloyd’s, is leveraging CyberCube’s cyber risk analytics platform, Portfolio Manager, along with its accompanying CyberConnect API product, to support market growth. Readers will rec...
Posted: Nov 08, 2024
Pro Global, an advisor in the specialist insurance sector, has announced the expansion and enhancement of its Digital Services capabilities, now led by Kristy Lovegrove, Group Head of Technology. This strategic initiative aligns Pro’s Global Digit...
Posted: Nov 08, 2024
Wright National Flood Insurance Company has announced its partnership with Orange Insurance Exchange (Orange) to co-brand flood policies. Wright Flood will service, administer, and issue flood coverage under the National Flood Insurance Program (N...
Posted: Nov 08, 2024
Pension Insurance Corporation plc (PIC), a specialist insurer for defined benefit pension schemes, has completed a £190 million buy-in of the accrued benefits in the Atradius UK Pension Scheme (The Scheme). The buy-in comprises 361 current pension...
Posted: Nov 08, 2024
Global insurance brokerage WTW has appointed Karen Grote as Division Line of Business Leader for the North America Life Practice within Insurance Consulting & Technology (ICT). In her new role, Grote will drive growth and enhance client value...
Posted: Nov 08, 2024
Insurtech provider Zywave has announced the addition of embedded benchmarking to its Cyber Quoting solution, enabling brokers to access industry data and loss information from similar organisations, providing their clients with enhanced insights i...
Posted: Nov 08, 2024
President and Chief Executive Officer (CEO) of Bermudian reinsurer RenaissanceRe (RenRe), Kevin J. O’Donnell, expects U.S. catastrophe limit purchases to increase by around $10 billion in 2025, and foresees property cat reinsurance rates tra...
Posted: Nov 07, 2024
Recognising cyber as one of the most significant systemic and emerging risks, Lloyd’s and the Association of British Insurers (ABI) have jointly published a guide to help re/insurers define major events and identify key factors to consider. Accord...
Posted: Nov 07, 2024
Managing general underwriter SageSure and Auros Reciprocal Insurance Exchange, a Mississippi-domiciled property insurer, have partnered to launch homeowners solutions to Louisiana and Mississippi. Auros is the third reciprocal exchange formation s...
Posted: Nov 07, 2024
Westfield Specialty International, a global insurance provider, has received approval from Lloyd’s for its 2025 Syndicate Business Forecast, setting it at £774 million—a rise of £56 million, or 8%, over the 2024 forecast. Since acquiring the Syndi...
Posted: Nov 07, 2024
Global insurance and reinsurance broker Aon has joined the Asia Investor Group on Climate Change (AIGCC) as a member with risk capital capabilities. As a member, Aon will contribute to developing market-based climate solutions for increasing resil...
Posted: Nov 07, 2024
CFC, an insurance provider with expertise in cyber risk, has announced that it is expanding its corporate cyber offering by launching a team dedicated to supporting brokers across Europe. With established offices in Brussels and Madrid and plans t...
Posted: Nov 07, 2024
Bermuda-domiciled reinsurer RenaissanceRe (RenRe) has appointed Loretta J. Mester as an Independent Director, effective November 6, 2024, following the retirement of Brian G. J. Gray, who had served as a Board member since 2013. Most recently, Dr....
Posted: Nov 07, 2024
Liberty Mutual Holding Company Inc. (LMHC) and its subsidiaries has posted a net income attributable to LMHC of $892 million for the third quarter of 2024, a notable shift from last year’s income of $219 million, while also posting consolida...
Posted: Nov 07, 2024
Property and casualty (P&C) holding company, American Coastal Insurance Corporation (ACIC) has posted a $28.1 million net income for the third quarter of 2024, an improved figure compared to the $10.6 million income that was posted in the thir...
Posted: Nov 07, 2024
Gallagher Re, a reinsurance broker, has released its latest InsurTech report, revealing that AI-focused InsurTechs raised $897.4 million across 29 deals in Q3 2024. Eight of the top 10 companies by funding round were centred around artificial inte...
Posted: Nov 07, 2024
Loadsure, an insurtech managing general agent (MGA), has partnered with Google Cloud to develop an AI-powered claims verification system that processes claims more efficiently and accurately. Traditionally, insurance claims processing has been lab...
Posted: Nov 07, 2024