Reinsurance News
While insurers are striving to innovate and navigate challenging market conditions, they are failing to meet customers expectations, while customers also need to adapt to the changing insurance landscape, Alastair Swift, Head of CRB Global Lines &...
Posted: Nov 29, 2024
Bridgehaven Insurance, the hybrid fronting insurer, will serve as capacity provider alongside Accredited on a new co-insurance arrangement with Policy Expert, the UK personal lines managing general agent (MGA). According to the announcement, the a...
Posted: Nov 29, 2024
European P&C insurance run-off group Marco Capital Holdings Limited has completed its acquisition of Inceptum Insurance Company Limited, a UK non-life insurance company in run-off, from Randall & Quilter II Holdings Ltd. The acquisition wa...
Posted: Nov 29, 2024
CelsiusPro has unveiled ParameterPro 2.0, a platform that enables brokers to visualise, structure, and model parametric climate and NatCat insurance solutions with “unmatched” speed and precision. According to the firm, this new platfo...
Posted: Nov 29, 2024
Altea Insurance (Altea), the multi-class, multi-year Managing General Agent (MGA) specialising in the healthcare and medical sectors, has appointed Holly Dixon as Senior Underwriter. Dixon will report to Altea Chief Executive Officer, Carly Matson...
Posted: Nov 29, 2024
Insurance technology firm Bindable has announced a distribution partnership with Recoop Disaster Insurance to bring Recoop’s innovative disaster insurance product to Bindable’s extensive network of carriers, brokers, affinity groups, a...
Posted: Nov 29, 2024
AM Best, the credit rating agency, has upgraded the Financial Strength Rating of AzRe Reinsurance, OJSC (AzRe) to B++ (Good) from B+ (Good), and its Long-Term Issuer Credit Rating to “bbb” (Good) from “bbb-” (Good), with a stable outlook for both...
Posted: Nov 29, 2024
Speaking at the Lloyd’s Q4 2024 Market Message, Patrick Tiernan, Chief of Markets, explained that whilst looking at the jump off point for 2025, he sees a “global specialty market that continues to experience favourable, if not, more c...
Posted: Nov 28, 2024
Global speciality insurance and reinsurance group, Chaucer, has highlighted growing demand in Mexico for insurance protection against cartels and other organised crime, driven by cartel activity spreading into new areas and greater demand from sec...
Posted: Nov 28, 2024
Australian insurer IAG is to acquire 90% of RACQ’s existing insurance underwriting business for $855m, under a 25-year exclusive partnership between the two companies. According to the announcement, IAG also has the option to acquire the remaining...
Posted: Nov 28, 2024
French reinsurance giant SCOR’s corporate foundation is backing an initiative led by Lancaster University Management School (LUMS) to use prediction markets to combine diverse forecasts of future climate into unified predictions, potentially...
Posted: Nov 28, 2024
Allianz Partners, a provider of insurance and assistance services, has announced that Michael Buttstedt has assumed the role of Chief Financial Officer and Board Member as of September 1, 2024. He reports directly to Tomas Kunzmann, CEO of Allianz...
Posted: Nov 28, 2024
Credit rating agency AM Best has maintained its stable outlook for the US health insurance market, citing strong capitalisation and profitability as key factors, among others, despite declining underwriting results. In 2023, the health insurance s...
Posted: Nov 28, 2024
Zurich Resilience Solutions (ZRS), the commercial risk advisory and services unit of global insurer Zurich Insurance Group, has launched Climate Spotlight, an interactive digital solution leveraging climate data to provide businesses, municipaliti...
Posted: Nov 28, 2024
As the insurance and reinsurance industry continues to grow, the extensive risk landscape also continues to widen, with major risks stemming from key areas such as climate change and cyber, which according to John Neal, Chief Executive Officer (CE...
Posted: Nov 28, 2024
In an interview with Reinsurance News, William Ho, Chief Executive Officer of MS Amlin for Asia Pacific, affirmed that although reinsurance market dynamics in Asia have shifted in 2024, discipline is expected to persist as the company continues to...
Posted: Nov 28, 2024
Specialist insurance provider, CFC has announced the launch of a new comprehensive insurance solution which will provide coverage for technology and cyber risks faced by tech businesses with revenues exceeding $250 million. This new product, desig...
Posted: Nov 28, 2024
S&P Global Ratings, a provider of credit ratings, research, and analytics, maintains a stable outlook on the global cyber insurance and reinsurance industry, supported by solid underwriting profitability in 2023 and 2024, with expectations for...
Posted: Nov 28, 2024
Neil Clutterbuck has been appointed as the Chair of Pen Underwriting and an Independent Non-Executive Director of Arthur J Gallagher Holdings (UK) Limited, subject to regulatory approval. Clutterbuck brings a wealth of experience to his new positi...
Posted: Nov 28, 2024
Australian insurer QBE has appointed Jamie Kelly as its Group Chief Compliance Officer, following Ed Rainsford’s recent transition to the role of Chief Risk Officer, AUSPAC. In the new role, Kelly reports to Fiona Larnach, the Group’s Chief...
Posted: Nov 28, 2024
Independent specialist re/insurance broker Miller, has appointed Guy Pierpoint to its Marine team in a leadership role which will see him focus on business development. Pierpoint joined the broker at the beginning of the month, bringing almost fou...
Posted: Nov 28, 2024
Direct Line has unanimously rejected Aviva’s £3.28 billion ($4.16 billion) 100% acquisition proposal, stating that it does not adequately reflect the firm’s standalone value, describing the offer as “highly opportunistic” a...
Posted: Nov 28, 2024
Root, an end-to-end digital insurance platform, has announced the launch of a certified developer community programme that aims to enhance scalability, efficiency, and cost-effectiveness. The programme has been designed to support in-house develop...
Posted: Nov 28, 2024
The UK P&I Club, a provider of protection and indemnity insurance to the global shipping industry, has announced the appointment of Richard Offord as Chief Executive of its Singapore Branch, effective 1 December 2024. Offord succeeds Yiah Soon...
Posted: Nov 28, 2024
Global credit ratings agency AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Fed Re Ltd. (Fed Re) (Bermuda), with a stable outlook. According to AM Best, the ratings re...
Posted: Nov 28, 2024