Reinsurance News
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
Accelerant, a services & data platform for the specialty insurance market, has announced the public launch of app.accelerant.ai, a revolutionary digital platform with enhanced artificial intelligence (AI) capabilities. Insurers and risk capita...
Posted: Nov 01, 2024
Ardonagh Advisory, a UK insurance broking and consulting firm, has announced its agreement to acquire Rowett Insurance Broking Limited. Rowett specialises in commercial and personal insurance from its offices in St Austell and Plymouth. Its subsid...
Posted: Nov 01, 2024
Global property and casualty insurer Chubb has announced the appointment of Mario Romanelli as Regional President South America and Diego Sosa as Regional President Northern Latin America, effective immediately. Romanelli will leverage his two dec...
Posted: Nov 01, 2024
Holding company Tiptree has reported a net income of $11.9 million for the third quarter of 2024, up from $2.2 million in Q3 2023, driven by growth in its insurance business. Adjusted net income reached $27.9 million, a 55.9% increase from $17.9 m...
Posted: Nov 01, 2024
Marsh, insurance broker and risk advisor and a business of Marsh McLennan, has announced the appointment of Christopher Lang as Digital Leader, Marsh Specialty and Global Placement, a newly created role, effective November 1. Based in New York and...
Posted: Nov 01, 2024
According to Moody’s, a financial services firm specialising in credit ratings, research, and risk analysis, insurance premiums for commercial mortgage-backed securities (CMBS) properties rose by 16.4% in 2023, far outpacing the 3.4% US cons...
Posted: Nov 01, 2024
With the Asia-Pacific region’s contribution to global GDP increasing, it is positioned to play a vital role in driving growth within the global insurance industry, according to the latest APAC Market Report from Gallagher Re, a reinsurance broker....
Posted: Oct 31, 2024
Oman Re, the Sultanate of Oman’s sole reinsurer, has reported reinsurance revenue of OMR 37.4 million ($97.2 million) in the first nine months of 2024, up 17% compared to the same period of 2023. Meanwhile, Oman Re’s net profit after tax sto...
Posted: Oct 31, 2024
Saudi Re has reported a net profit after zakat (a religious obligation for all Muslims who meet the necessary criteria of wealth) of SAR 475 million for the first nine months of 2024, representing an impressive 351% increase compared to the same p...
Posted: Oct 31, 2024
Kemper Corporation has announced its financial results for the third quarter of 2023, reporting a net income of $73.7 million compared to a net loss of $146.3 million seen in the same period last year. Kemper’s total revenues for Q3 2024 decreased...
Posted: Oct 31, 2024
Lloyd’s global insurer and reinsurer MS Amlin has announced the appointment of Paul Lucas as Chief Actuary, effective at the end of Q1 2025. Based in London, Lucas will report to Jessie Burrows, Chief Financial Officer, as a member of the Fi...
Posted: Oct 31, 2024
Executives at global insurer and reinsurer Everest Group said today that they expect property catastrophe reinsurance pricing in the US and Europe to be up by as much as 10% heading into the January 1st, 2025, renewals, following the impacts of hu...
Posted: Oct 31, 2024
The Hanover Insurance Group has released its financial results for the third quarter of 2024, which includes its combined ratio improving 8.9 points to 95.5%, driven in part by lower catastrophe losses, while net income increased to $102.1 million...
Posted: Oct 31, 2024
Insurance intermediary Specialist Risk Group (SRG), has acquired Stonehatch, a specialist bloodstock and livestock insurance broker, a move that will complement its existing equestrian portfolio. Stonehatch was founded in 2024 by Chris Williamson,...
Posted: Oct 31, 2024
Global insurance intermediary group Howden has launched Howden Safe+, a cyber insurance solution developed in partnership with Safe Security aimed at clients with revenues between $250 million and $2 billion. Backed by Mosaic Insurance, Chubb and...
Posted: Oct 31, 2024
Global brokerage WTW has posted its financial results for the third quarter of 2024, which includes a net loss of $1.67 billion compared to net income of $139 million in the prior-year third quarter. WTW’s revenue for Q3’24 climbed by...
Posted: Oct 31, 2024
Specialty MGA Optio Group has appointed Joanna Eilts as Head of Legal, a newly established London-based role in which she will report to CFO Mark Mugge, effective immediately. This appointment adds to Optio’s leadership team as it continues...
Posted: Oct 31, 2024
The Allstate Corporation has reported it was able to generate “excellent” returns in the third quarter of 2024 despite higher catastrophe losses, seeing its net income applicable to common shareholders improve to $1.2bn, compared to a net loss of...
Posted: Oct 31, 2024
According to Morningstar DBRS, insured losses from the extreme flooding in eastern and southern regions of Spain are expected to be well above €1 billion, given the significant damage to people, properties, vehicles, and businesses as well as to t...
Posted: Oct 31, 2024
Marsh McLennan, a global insurance and reinsurance broker, has announced the appointment of Carlos Rivera as CEO, Marsh McLennan Latin America and the Caribbean (LAC) and President, Marsh LAC, effective January 1, 2025. Based in Bogotá, Colombia,...
Posted: Oct 31, 2024
Global re/insurer Markel Group Inc. has reported operating income of $1.4 billion and $3.1 billion for the third quarter and first nine months of 2024, respectively, and while overall the firm’s insurance engine performed well in both period...
Posted: Oct 31, 2024