Reinsurance News
Global property and casualty insurer Chubb has disclosed losses of approximately $250-300 million pre-tax and $208-250 million after-tax, net of reinsurance and including reinstatement premium, in its Q4 2024 results stemming from Hurricane Milton...
Posted: Nov 04, 2024
A recent publication by Insurance Europe outlines policy recommendations for EU policymakers aimed at strengthening the insurance industry’s cyber resilience across Europe in response to a significant protection gap. The global cyber insuran...
Posted: Nov 04, 2024
As the 2024 hurricane season enters into its final month, KBRA, the global full-service rating agency has highlighted the uptick in storm activity as several weather systems made landfall in the southeastern United States. Readers will be aware th...
Posted: Nov 04, 2024
Qubit Underwriting Limited has announced the appointment of Damian Lynch as Chief Underwriting Officer (CUO) of Digital Asset Insurance, effective November 1, 2024. In his new role, Lynch will report to Helen Ye, Qubit’s CEO, and will be responsib...
Posted: Nov 04, 2024
Ryan Specialty, an international specialty insurance services firm, has announced it is in final discussions to acquire Innovisk Capital Partners from Abry Partners and BHMS Investments, LP. Through the acquisition, Innovisk will be integrated int...
Posted: Nov 04, 2024
CLARA Analytics, a provider of artificial intelligence (AI) technology for optimising insurance claims, has announced the appointment of Eugene Wong as Chief Financial Officer. In his new role, Wong will work closely with CLARA’s CEO, Heather H. W...
Posted: Nov 04, 2024
Liberty Mutual Reinsurance (LM Re), the reinsurance arm of Boston headquartered Liberty Mutual Insurance Group, has announced the appointment of Charlotte Belin as a Senior Underwriter within its Agriculture and Parametrics team. Belin, who will b...
Posted: Nov 04, 2024
Net underwriting earnings across Berkshire Hathaway’s insurance and reinsurance operations declined to $750 million in the third quarter of 2024, as the strong performance at GEICO more than offset underwriting losses at both the firm’...
Posted: Nov 02, 2024
International specialty insurance firm Ryan Specialty Holdings, Inc. has reported revenue growth of 20.5% year-over-year to $604.7 million in the third quarter of 2024, compared to $501.9 million in the prior-year period, while net income spiked 8...
Posted: Nov 01, 2024
Specialty re/insurance group Chaucer has announced the appointment of Ivan Sit, an Asian Marine insurance market veteran that has been recruited to launch the company’s regional Marine offering via Chaucer’s Lloyd’s Singapore platform. Sit is rega...
Posted: Nov 01, 2024
Lemonade, the digital insurance firm powered by artificial intelligence (AI), has reported a net loss in Q3 2024 of $67.7 million, compared to a loss of $61.5 million in the third quarter of 2023, while it’s in-force premium (IFP) increased...
Posted: Nov 01, 2024
Global reinsurer Hannover Re has announced the appointment of Rael Davis as Chief Financial Officer of the Hannover Re UK Life Branch. Davis brings extensive expertise in global accounting standards, a strong understanding of the financial drivers...
Posted: Nov 01, 2024
Enstar Group Limited, a company specialising in managing runoff insurance and reinsurance portfolios, recently confirmed that one of its wholly-owned subsidiaries has finalised a previously announced loss portfolio transfer agreement with subsidia...
Posted: Nov 01, 2024
Global insurance and reinsurance broker Aon has signed a definitive agreement to acquire UK-based insurance broker Griffiths & Armour, a move that aligns with its UK and Ireland expansion strategy. Upon completion of the transaction, Griffiths...
Posted: Nov 01, 2024
Solid underwriting conditions, combined with a turnaround in unrealised losses drove reinsurers to a 22% return on equity (ROE) in 2023, states global ratings agency AM Best. However, the agency has also said that higher attachment points would ma...
Posted: Nov 01, 2024
The Natural Disaster Fund (NDF), managed by Global Parametrics, is playing a crucial role in supporting food security in drought-prone African countries by supporting African Risk Capacity Ltd. (ARC) with risk capacity for the UN World Food Progra...
Posted: Nov 01, 2024
QBE Re, the reinsurance arm of QBE Insurance Group, has announced the appointments of Meredith Ramcharan as VP Casualty Treaty Team Leader and Grace Beveridge as Lead Treaty Underwriter. These key hires will strengthen the firm’s North America (NA...
Posted: Nov 01, 2024
Delos Insurance Solutions, a property insurance MGA, has raised $9 million in a Series A funding round to address homeowners’ challenges in securing wildfire insurance. This funding round was led by HSBC Asset Management, with contributions...
Posted: Nov 01, 2024
RiverStone International has completed a loss portfolio transfer reinsurance (LPT) with QBE after receiving all requisite approvals. Earlier in the year RiverStone had announced its agreement with QBE to provide a LPT for various QBE subsidiaries,...
Posted: Nov 01, 2024
In their financial results for the third quarter of 2024, Fairfax Financial Holdings has reported net earnings attributable to shareholders of $1,030.8 million, which compares to the $1,068.9 million seen in the third quarter of 2023. According to...
Posted: Nov 01, 2024
The insurance sector is preparing for potentially one of Spain’s costliest events on record due to catastrophic flooding across eastern and southern regions that began on October 27, 2024, according to global insurance and reinsurance broking grou...
Posted: Nov 01, 2024
Reinsurance Group of America (RGA), Incorporated, a provider of life and health reinsurance has posted its financial results for the third quarter of 2024, which includes net income available to RGA shareholders of $156 million, a decrease compare...
Posted: Nov 01, 2024
The Florida Hurricane Catastrophe Fund (FHCF), a tax-exempt trust fund created by the State in 1993 to provide coverage for property insurers, could pay out an estimated $4.6 billion due to claims from Hurricanes Milton and Helene, according to it...
Posted: Nov 01, 2024
Insurer and reinsurer AXIS Capital has announced it is consolidating its A&H Insurance and Reinsurance organisations under a single leader, James “Jay” Hamilton. This change aims to create a unified team, combining market knowledge and experti...
Posted: Nov 01, 2024
Bermuda-based insurer and reinsurer SiriusPoint has reported an improved combined ratio of 84.4% for the third quarter of 2024 as consolidated underwriting income increased from $73.8 million to $89 million, driven by increased favorable prior yea...
Posted: Nov 01, 2024