Reinsurance News
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
Global legacy re/insurance specialist Enstar Group Limited has appointed Paul Brockman to the newly created role of Chief Commercial Officer, effective immediately, with Adrian Thornycroft set to join the firm in May of next year as Chief Administ...
Posted: Oct 30, 2024
Gallagher Re and African Risk Capacity Ltd (ARC Ltd) have developed a new parametric reinsurance product for the UN World Food Programme (WFP) aimed at providing timely financial responses to populations affected by drought and food insecurity in...
Posted: Oct 30, 2024
SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, has announced the appointment of former Guy Carpenter CEO Peter Hearn to its Board of Managers. Hearn is a seasonal executive with a career spanning...
Posted: Oct 30, 2024
AIA China has received approval from the National Financial Regulatory Administration Anhui Bureau to begin setting up a new branch in Anhui province. Located in Eastern China, Anhui province has a gross domestic product (GDP) of RMB4.7 trillion a...
Posted: Oct 30, 2024
Property & casualty (P&C) insurer The Hartford has announced an expansion of Michael Garrison’s responsibilities to include the International division, in addition to his current role as head of the company’s US wholesale organ...
Posted: Oct 30, 2024
Falcon Risk Services, a majority-owned MGA under HDI Global Specialty, which is a subsidiary of HDI Global SE, has partnered with ArxNimbus, a company in cybersecurity risk management, to reshape the approach to cyber risk quantification. This col...
Posted: Oct 30, 2024
Hub International Limited (HUB), a global insurance brokerage and financial services firm, has announced the appointment of Tim DeSett as President of North American Commercial Lines. DeSett will report to Chris Treanor, President of Programs &...
Posted: Oct 30, 2024
Property & casualty (P&C) insurer The Hartford and Coalition, a cyber insurer, have entered into a strategic, long-term capacity partnership to combat the growing customer and broker demand for Coalition’s Active Cyber Insurance approach i...
Posted: Oct 29, 2024
Aviva has completed a £1.3 billion bulk purchase annuity full buy-in with The RAC (2003) Pension Scheme, securing the benefits for all c19,000 members. According to the firm, features of the deal included a novation of the scheme’s existing longev...
Posted: Oct 29, 2024
B.P. Marsh & Partners, a specialist private equity investor, has acquired an additional 5% shareholding in Pantheon Specialty Limited (Pantheon) from eight members of Pantheon’s management team for £12.5 million in cash. This acquisition raise...
Posted: Oct 29, 2024
Brown & Brown, the insurance brokerage, in its unaudited results for Q3 2024 has reported net income of $234 million, an increase of $58 million, or 33% from the previous year’s $176 million. Simultaneously, revenues for Q3 2024 under U.S. gen...
Posted: Oct 29, 2024
Universal Insurance Holdings expects to see a gross loss of up to $900 million related to the three devastating hurricanes that have recently impacted the United States, the insurer has stated. Chief Executive Officer Stephen J. Donaghy, said: “As...
Posted: Oct 29, 2024
Specialist private equity investor B.P. Marsh & Partners Plc has announced the sale of Lilley Plummer Holdings Limited, the 100% owner of specialist Lloyd’s broker Lilley Plummer Risks Limited (LPR), a marine and property specialist. Clear Lon...
Posted: Oct 29, 2024
The Reinsurance News Monte Carlo Executive Rendezvous Roundtable took place at the 66th edition of RVS in September 2024 and featured insightful discussions on the reinsurance market as we head towards the key January 2025 renewals. In partnership...
Posted: Oct 29, 2024
Accredited Insurance Holdings, a global programme manager, has appointed Barbara Bufkin and Patricia Roufca as Non-Executive Directors to its Group Board. Throughout her career, Bufkin has held executive roles across reinsurance, specialty insuran...
Posted: Oct 29, 2024
During re/insurance broker Aon’s Profitable Growth Panel, Sierra Signorelli, CEO of Commercial Insurance at Zurich, emphasised that the use of data and technology is really going to distinguish top performers in the coming years. She noted that le...
Posted: Oct 29, 2024
Fitch Ratings has upgraded the Outlook for Assicurazioni Generali S.p.A. (Generali) and its core subsidiaries to Positive from Stable, while affirming the Insurer Financial Strength (IFS) Rating at ‘A+’. Fitch has also affirmed Generali’s Long-Ter...
Posted: Oct 29, 2024
Vienna Insurance Group has established CyRiSo, a cyber security firm aimed at small and medium-sized companies. Christiana Bruckner and Michael Ganzwohl have been appointed to manage CyRiSo, which aims to provide clients with comprehensive support...
Posted: Oct 29, 2024
BMS Group (BMS), an independent specialist re/insurance broker, has announced Heath Jose has joined BMS Re as Business Development Lead, a Singapore-based role, as part of the company’s growing global facultative practice in Asia In his new positi...
Posted: Oct 29, 2024
WTW, an advisory, broking, and solutions firm, has introduced ResQ Machine-led Reserving—a transformative technology designed to help insurers and reinsurers improve accuracy and efficiency in property and casualty (P&C) reserving. ResQ Machin...
Posted: Oct 29, 2024
Reinsurance trading platform Supercede has announced the appointment of Deeva Chamdal as Technical Reinsurance Consultant. In her role, Chamdal will be based in London and report to Jess McCausland, Head of Client Success. Tom Spier, Chief Commerc...
Posted: Oct 29, 2024
The Insurance Regulatory and Development Authority of India (IRDAI) has granted independent insurance broker Lockton regulatory approval for the acquisition of Arihant Insurance Broking Services Limited. Lockton’s strategic expansion into the Indi...
Posted: Oct 29, 2024