Reinsurance News
International General Insurance Holdings Ltd. (IGI), in its Q3 2024 results, has reported net income of $34.5 million compared to $10.9 million last year, driven primarily by an increase in net premiums earned (NPE) of $17.2 million. The increase...
Posted: Nov 06, 2024
The Pacific Catastrophe Risk Insurance Company (PCRIC), in collaboration with the global advisory, broking, and solutions company WTW, has renewed its portfolio of policies for governments and government-affiliated entities in Pacific Island count...
Posted: Nov 06, 2024
Pool Re, the UK’s government-backed terrorism reinsurer, has announced the appointment of Andrew Stark to the newly created role of Head of Underwriting. In his new role, Stark will report to Jonathan Gray, Chief Underwriting Officer at Pool Re. S...
Posted: Nov 06, 2024
AEGIS Managing Agency Limited, managing agent of top-quartile Lloyd’s syndicate 1225 (AEGIS London), has announced the appointment of two new non-executive directors to its Board, Martin Bride and Andrew Gibbs. Both appointments were made ba...
Posted: Nov 06, 2024
Specialty insurance and reinsurance group Lancashire Holdings has reported insurance revenue of $1.3 billion for the first nine months of 2024, an increase of $186.8 million, or 16.8%, compared to the same period in 2023, despite anticipating net...
Posted: Nov 06, 2024
Bermuda-based reinsurer Conduit Re generated reinsurance revenue of $588.2 million for the first nine months of 2024, an increase of 30.3% over the same period last year, as gross premiums written (GPW) rose 25.2% amid strong growth in property an...
Posted: Nov 06, 2024
Specialist insurer Beazley has reported a 7% rise in net insurance written premiums to $3.8 billion for the nine months ended September 30th, 2024, and has maintained its combined ratio guidance for the year at around 80% despite expected losses o...
Posted: Nov 06, 2024
Brace Underwriting Limited, a multi-line alternative risk underwriter backed by Beat Capital, has appointed Richard Wheeler as Senior Underwriter, effective immediately. Based in London, Wheeler will report to Tom Sambrook, Head of Underwriting. W...
Posted: Nov 06, 2024
FWD Group Holdings Limited (FWD Group), a global insurance company, reported strong year-on-year growth in the value of new business (VNB), reaching $623 million for the nine months ended September 30, 2024, a 16% increase compared to the same per...
Posted: Nov 06, 2024
Berkshire Hathaway Specialty Insurance (BHSI) has announced the appointment of Vincenza Viele as Head of Claims, and Alessandro Majerna as Head of PI and Cyber for Executive & Professional Lines, in Italy. With over 24 years of loss adjusting...
Posted: Nov 06, 2024
Bowhead Specialty, a provider of casualty and professional liability products, has announced its financial results for the third quarter of 2024, reporting a net income of $12.1 million and a 32.3% increase in gross written premiums (GWP). The fir...
Posted: Nov 06, 2024
The Baldwin Group has announced that total revenue has grown 11% in the third quarter of 2024, to $338.9 million from the $306.2 million reported in the same period last year. At the same time, the company also posted organic revenue growth of 14%...
Posted: Nov 05, 2024
For insurers to remain competitive and responsive to market demands, they must move beyond legacy systems and leverage new and emerging technologies, yet many still rely on outdated systems, with nearly half of insurers (49%) acknowledging they ar...
Posted: Nov 05, 2024
This year, insured catastrophe losses have already exceeded $100 billion and are expected to easily breach the $120 billion mark, but with reinsurers poised to generate underwriting profits on their global catastrophe portfolios in 2024 after the...
Posted: Nov 05, 2024
The African Reinsurance Corporation (Africa Re) reported a strong net underwriting result of $79.5 million at the end of the third quarter of 2024, marking an impressive year-over-year increase of 100.82% and resulting in an improved net combined...
Posted: Nov 05, 2024
Singapore Reinsurers’ Association has announced changes in its leadership appointing Kenrick Law as SRA Chair and James Beedle as Deputy Chair, taking over from Marc Haushofer. The SRA was established in 1979 aiming to be a leading voice fo...
Posted: Nov 05, 2024
Specialist managing general agent (MGA), Kova Professions has entered into a multi-year capacity agreement with Hadron, the specialty insurance carrier. The partnership, which will see Kova Professions underwrite with capacity from Hadron, is part...
Posted: Nov 05, 2024
The third quarter of 2024 closed with an investment in insurance technology (Insurtech) of $3.2 billion, 7% less than in 2023, however, this trend appears to be a positive and suggests a rebound in funding in the fourth quarter, according to a new...
Posted: Nov 05, 2024
AXA XL, AXA’s property & casualty (P&C) and specialty risk division, has announced the appointment of Matthew Teehan as Senior Underwriter – Multinational for Middle Market, Americas. Based in New York, Teehan will spearhead th...
Posted: Nov 05, 2024
Corebridge Financial, the American multinational financial services company, has released its financial results for the third quarter of 2024, which includes a $1.2 billion net loss, compared to a gain of $2.1 billion in the prior year quarter. Ac...
Posted: Nov 05, 2024
Zurich-based catastrophe insurance data provider PERILS has disclosed its fourth and final industry loss estimate for Extratropical Windstorm “Ciarán,” increasing the figure to €2.06 billion. The windstorm, also known as “Emir,” impacted France,...
Posted: Nov 05, 2024
AdvantageGo, part of Coforge, is set to implement a comprehensive reinsurance and insurance-linked securities (ILS) solution for Bermuda-based reinsurance group MultiStrat, centring on the AdvantageGo Underwriting Workbench. AdvantageGo describes...
Posted: Nov 05, 2024
Insurance intermediary Specialist Risk Group (SRG) has announced the acquisition of specialist reinsurance firm NW Re. Founded in 2020 by Neil Wallis, Neil Walker, and Tallis Kemp, NW Re provides Property Facultative Reinsurance and Excess of Loss...
Posted: Nov 05, 2024
Palomar Holdings has reported a 32.2% rise in gross written premiums (GWP) to $415 million for the third quarter of 2024, while catastrophe losses drove a 4.7 point deterioration in the combined ratio to 80.5%, compared to 75.8% in the third quart...
Posted: Nov 05, 2024
Miller, an independent specialist insurance and reinsurance broker, has announced the appointment of industry veteran Steve Jolley as Chief Information Officer, effective December 2, 2024. In his new role, Jolley will report to the incoming Chief...
Posted: Nov 05, 2024