Reinsurance News

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

Insurer and reinsurer AXIS Capital has disclosed a Q3 2024 net income available to common shareholders of $173 million, down slightly from $181 million in the same period last year, with a combined ratio of 93.1%. In Q3 2024, pre-tax catastrophe a...

Posted: Oct 31, 2024

Arch Capital Group Ltd., the Bermuda-based insurer and reinsurer, has reported premium growth across its insurance and reinsurance segments in the third quarter of 2024, although the underwriting result dipped year-on-year amid elevated losses fro...

Posted: Oct 31, 2024

Bermuda-based re/insurer Everest Group, Ltd. generated underwriting income of $272 million in the third quarter of 2024, driven by the strong performance of its reinsurance business in spite of elevated catastrophe losses. Everest has reported a s...

Posted: Oct 31, 2024

B.P. Marsh & Partners, a specialist private equity investor, has acquired a 30% cumulative preferred ordinary shareholding in SRT & Partners Limited, a start-up UK Retail and London Market broker. B.P. Marsh has provided £2.5 million in fu...

Posted: Oct 31, 2024

AM Specialty Insurance Company (ASIC), a provider of specialised insurance products, has announced the appointment of Joseph M. Scheerer, CEO and Principal of Stonybrook Capital, to its board as a non-executive director. Scheerer brings a wealth o...

Posted: Oct 31, 2024

Macquarie Insurance Facility has expanded its client offerings by introducing a rent-a-captive insurance solution for property and casualty (P&C) risks. This solution enables clients to benefit from Macquarie’s captive insurer status without t...

Posted: Oct 31, 2024

Tokio Marine Kiln (TMK), an international insurer specialising in niche insurance and reinsurance, recently announced the appointment of Alexandros Ampatzis as Head of Marine for the Asia-Pacific (APAC) region, effective November 1, 2024. Ampatzis...

Posted: Oct 31, 2024

Global insurer AXA’s property & casualty (P&C) and specialty risk division, AXA XL, achieved gross written premium (GWP) and other revenues growth of 7% in the first nine months of 2024 to €44.5 billion, supported by 10% year-on-year...

Posted: Oct 30, 2024

China Reinsurance Group (China Re) has generated a net profit of RMB 2,411 million (USD 337m) for the first nine months of 2024, driven by a strong result of RMB 1,272 million (USD 178m) in its P&C business which produced a combined ratio of 9...

Posted: Oct 30, 2024

Skyward Specialty Insurance Group, Inc. has reported a rise of 12.4% in gross written premiums (GWP) as they hit $400 million in Q3 2024, compared to last year’s $355 million. For 9M 2024, GWP hit $1.3 billion, increasing by 19% from the comparati...

Posted: Oct 30, 2024

Qatar Insurance Company (QIC Group) has announced its financial results for the first nine months of 2024 reporting a net profit of QAR 525 million, a 16% increase compared to the same period the year prior. The global macroeconomic outlook has im...

Posted: Oct 30, 2024

Global insurance and reinsurance broking group Aon feels that “healthy” and “well-capitalized” insurance and reinsurance markets are positioned to absorb industry losses of between $34 billion and $54 billion from hurricane...

Posted: Oct 30, 2024

Verisk, the global data analytics and technology provider has reported its financial results for the third quarter of 2024, which includes an increase in its consolidated and organic constant currency (OCC) revenues, with growth contributions from...

Posted: Oct 30, 2024

An increasing number of German mutual insurers are merging, with a common trend toward greater diversification in business lines and increased scale amid sharply rising IT costs, according to Berenberg analysts. In 2024, four mergers have either b...

Posted: Oct 30, 2024

Insurance and reinsurance broking group Gallagher has appointed Darren Richardson as an energy risk engineer to support the oil and gas value chain operations. From what Reinsurance News understands, in his new role, Richardson will also be respon...

Posted: Oct 30, 2024

Aviation underwriters are encountering increased challenges in accurately assessing risk exposure and managing portfolios, prompting a pressing need for real-time data insights and advanced tools, which Concirrus, an insurtech innovator, has addre...

Posted: Oct 30, 2024

NewRe, a Property and Casualty reinsurance company part of Munich Re Group, has announced the appointment of Dr. Claudia Strametz as President of its Board of Directors. A seasoned executive with over 20 years of experience in the reinsurance mark...

Posted: Oct 30, 2024

Insurers across Europe will be on high alert as torrential rain has triggered devastating flash floods in southeastern Spain, causing widespread destruction and claiming at least 60 lives. According to the Spanish weather service AEMET, the town o...

Posted: Oct 30, 2024

Buyer-friendly conditions in the global insurance market have persisted through much of the third quarter of 2024, and even accelerated in some segments, creating opportunities as the year-end renewals draw near, Joe Peiser, Chief Executive Office...

Posted: Oct 30, 2024

A new analysis from ICEYE, a provider of satellite-based disaster management solutions, has revealed that almost 185,000 buildings in Florida were impacted by hurricane Milton’s flooding. Readers will recall that ICEYE had previously warned...

Posted: Oct 30, 2024

During SCOR’s live session, “The Re(insurer) of Tomorrow,” Thierry Léger, CEO of SCOR, emphasised the urgent need for improved communication between public authorities and the insurance industry to enhance resilience against risks. Léger pointed o...

Posted: Oct 30, 2024

QBE North America, part of the global insurer, has announced the appointment of Matt Westhoff as President of its Commercial Insurance business, effective November 11, 2024. In this role, Westhoff will oversee QBE’s $1 billion-plus Commercial Insu...

Posted: Oct 30, 2024

Global property and casualty insurer Chubb has reported P&C underwriting income for Q3 2024 of $1.46 billion, up 11.7% from the same period in 2023, with a combined ratio of 87.7%. This occurred despite the firm disclosing pre-tax catastrophe...

Posted: Oct 30, 2024