Reinsurance News
The Inter-American Development Bank (IDB) has announced a new $1 billion securitisation transaction, Scaling4Impact, which includes a $100 million mezzanine tranche, of which a portion was sold to international investor Newmarket Capital, and the...
Posted: Oct 28, 2024
Price Forbes Bermuda has announced the promotion of Carrie Kelley to the role of Chief Executive Officer (CEO). In her new role, Kelley will oversee all Price Forbes Bermuda operations and report directly to Chris Bonard, CEO of Ardonagh Specialty...
Posted: Oct 28, 2024
With Ralph Beutter, the member of HDI’s Executive Board responsible for Specialty Lines, retiring on 31 May 2025, Dr Renate Strasser is set to join the company effective 1 April 2025, taking over his responsibilities. According to HDI, Beutt...
Posted: Oct 28, 2024
Everest Reinsurance, the reinsurance division of Everest Group, Ltd., has promoted Shirine Dajjani to the role of International Reinsurance Operating Officer, based out of Zurich. In her new position, Dajjani will oversee the alignment of the firm...
Posted: Oct 28, 2024
Global advisory, broking, and solutions company WTW has reportedly secured an insurance licence to act as an insurance broker in the Kingdom of Saudi Arabia, naming Talal Omar Bahafi as the new Head of Insurance Broking, WTW Saudi Arabia. Previous...
Posted: Oct 28, 2024
Prudential has announced the Hong Kong launch of MedScreen+, a digital underwriting tool developed in collaboration with Reinsurance Group of America, Incorporated (RGA), a global life and health reinsurer. By utilising optical character recogniti...
Posted: Oct 28, 2024
Rare Earth Insurance Partners Shanghai (Rare Earth Shanghai), member of the +8 Partners ecosystem, has officially launched in mainland China as the first independent wholesale insurance broker in the territory. The company, which is led by indust...
Posted: Oct 28, 2024
TIH, a US insurance brokerage, announced that its President, Dave Obenauer, will step into the role as Chief Executive Officer, effective January 1, 2025, with current CEO John Howard transitioning to Vice Chair. Obenauer, who has been with TIH si...
Posted: Oct 28, 2024
Pen Underwriting, a subsidiary of Arthur J. Gallagher & Co., has revamped its cyber proposition for large corporate clients, which includes re-entering primary coverage for this market, doubling its excess of loss (XOL) limit, and expanding it...
Posted: Oct 28, 2024
Reinsurance costs, persistent inflation, regulations, and frequent weather-related claims are driving up property insurance prices, affecting commercial real estate returns, valuations, and transactions, according to a Urban Land Institute (ULI) a...
Posted: Oct 28, 2024
Ahead of the next COP meeting, the Lloyd’s Market Association (LMA) commissioned a report, Underwriting the Transition, where KPMG examined the challenges, risks, and rewards of the low-carbon transition for the insurance sector over the next two...
Posted: Oct 28, 2024
Fannie Mae, a government-sponsored enterprise (GSE), has announced that 26 re/insurers are supporting its seventh Credit Insurance Risk Transfer transaction of the year, CIRT 2024-L4, which effectively transferred $338.6 million in mortgage credit...
Posted: Oct 25, 2024
The reinsurance market is constructed to handle major events like hurricane’s Helene and Milton, according to Eric Andersen, President of global insurance and reinsurance brokerage, Aon. Hurricane Helene was the sixth named storm of the 2024...
Posted: Oct 25, 2024
In a time characterised by hybrid work arrangements, evolving workplace cultures, and heightened attention to misconduct, a significant portion of global executives, approximately 23%, identify employer risk as the most prominent threat they face...
Posted: Oct 25, 2024
Arthur J. Gallagher & Co. has acquired London-based investment consulting firm Redington. Serving clients primarily in the UK, Redington provides investment, research and technology services to pension funds, wealth managers and institutional...
Posted: Oct 25, 2024
According to a recent report by Conning, the escalating impact of natural catastrophes is threatening the homeowners insurance sector, indicating that the industry cannot sustain its current trajectory without significant changes. While natural di...
Posted: Oct 25, 2024
Property & casualty (P&C) insurer The Hartford has posted an 18% year-on-year increase in net income to $761 million for the third quarter of 2024, driven by double-digit earned premium growth in both its Commercial and Personal Lines segm...
Posted: Oct 25, 2024
With the reinsurance industry remaining adequately capitalised and poised to meet demands at the upcoming January 1 renewals, J. Patrick Gallagher, Jr., Chairman, President and CEO of A.J. Gallagher & Co., remains confident that Gallagher Re w...
Posted: Oct 25, 2024
Lloyd’s global re/insurer MS Amlin has appointed Jo Hine and Andrew Downes as Independent Non-Executive Directors. Hine takes over as Chair of the Risk and Solvency Committee, subject to regulatory approval. She has extensive experience in f...
Posted: Oct 25, 2024
Cincinnati Financial Corporation has announced its financial results for the third quarter of 2024, reporting a combined ratio for the Consolidated Property Casualty Insurance segment of 97.4%, an increase from 94.4% in the same period last year d...
Posted: Oct 25, 2024
Broadstone, an independent financial services consultancy, has outlined four essential steps for insurers preparing for the Prudential Regulation Authority (PRA)’s new guidelines on Solvent Exit Planning. On January 23, 2024, the PRA released a co...
Posted: Oct 25, 2024
Global insurance and reinsurance broking group Aon has reported a 26% year-on-year rise in total revenue to $3.7 billion for the third quarter of 2024, with solid organic revenue growth across the business, including 7% to $503 million in its Rein...
Posted: Oct 25, 2024
Donegal Insurance Group has partnered with ZestyAI, a climate and property risk analytics solutions provider, to utilise its new AI-powered solution to enhance property risk assessment by accurately determining roof age across the US. Through the...
Posted: Oct 25, 2024
Kinsale Capital Group, Inc. has reported a net income of $114.2 million for Q3 2024, which includes after-tax catastrophe losses of $10.8 million, compared to after-tax catastrophe losses of $0.9 million in Q3 2023, when the net income was $76.1 m...
Posted: Oct 25, 2024
Ivans, a division of Applied Systems, has released the results for the third quarter of 2024 from the Ivans Index, which show year-over-year premium renewal rate increases across all major commercial lines of business, except Workers’ Compensation...
Posted: Oct 25, 2024