Reinsurance News
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
insurance, asset and wealth management and private equity – are planning to increase office attendance in the next 12 months, according to a new KPMG UK research. Of those planning to increase attendance, more than a third (37%) expect emplo...
Posted: Oct 25, 2024
Florida-domiciled and expansive primary insurance company, Universal Insurance Holdings, has reported a Q3 2024 combined ratio of 116.9%, up by 6.2 points from the comparative quarter, reflecting an increase in both the net loss and net expense ra...
Posted: Oct 25, 2024
Amid growing demand for reinsurance capacity, clients have shown interest in buying lower down to go back to past retention levels, MAPFRE RE’s Mark Meyerhoff has observed, yet this is not something he sees happening, instead he anticipates...
Posted: Oct 25, 2024
Through a partnership with Cognizant, FCCI Insurance Group (FCCI) has launched a new Excess & Surplus (E&S) line of business, marking a significant milestone in its modernisation journey. This collaboration utilises Cognizant’s exper...
Posted: Oct 25, 2024
Global insurance broker A. J. Gallagher & Co. has reported net earnings of $314.1 million for Q3 of 2024, up 12% from the same period of last year, while total revenues increased 13% to $2.77 billion. Gallagher’s EBITDAC also improved to...
Posted: Oct 25, 2024
S&P Global Ratings, a provider of credit ratings, research, and analytics, forecasts that most Protection and Indemnity (P&I) clubs will achieve near-breakeven results for the financial year ending February 20, 2025. The 12 P&I clubs i...
Posted: Oct 25, 2024
The Lloyd’s insurance and reinsurance market, as well as the Lloyd’s Market Association (LMA) and LIIBA (London & International Insurance Brokers’ Association), two London-focused insurance and reinsurance organisations have shared...
Posted: Oct 25, 2024
Global ratings agency AM Best has downgraded the Issuer Credit Ratings of South Carolina Farm Bureau Group (SCFBG) due to ongoing volatility in its operating results, primarily driven by weather-related events and inflationary pressures, particula...
Posted: Oct 25, 2024
International specialty insurer and reinsurer Convex has partnered with EXL, a data analytics and digital operations and solutions company, to evolve their operational model through data and technology. Through this multiyear partnership, the prog...
Posted: Oct 25, 2024
The Fortegra Group, a global specialty insurer and a subsidiary of Tiptree Inc., has announced the appointment of Richard Mangion as Chief Financial Officer for its UK and European business. In his new position, Mangion will report to Ed Peña, For...
Posted: Oct 24, 2024
Oka, The Carbon Insurance Company (Oka) has introduced a lineslip for its innovative Article 6 insurance solution, Corresponding Adjustment Protect. Corresponding Adjustment Protect is the first-ever policy designed to protect voluntary carbon cre...
Posted: Oct 24, 2024
Commercial property insurer FM has announced the allocation of approximately a $400 million ‘Resilience Credit’ to support client investment in climate resilience. With this third resilience credit, FM will have allocated more than $1 billio...
Posted: Oct 24, 2024
Boston Consulting Group (BCG), a global management consulting firm, has released new research revealing that after years of investing in artificial intelligence (AI), CEOs are increasingly focused on achieving tangible returns from these technolog...
Posted: Oct 24, 2024
Global insurer QBE has partnered with Eos Rhea Metis (ERM) to enhance its risk engineering services for corporate clients in Taiwan and across Asia. This partnership reflects QBE’s commitment to providing advanced risk management solutions,...
Posted: Oct 24, 2024
CRC Group, a wholesale specialty insurance distributor in North America, has announced the hire of three new professionals: Cory Gibson, to be based in Florida; Clark Miller, based in Texas; and Andrew Perez, who will be based in Colorado. Gibson...
Posted: Oct 24, 2024
During a recent interview with Reinsurance News, Stilianos Kalaitzidis, Head of Business Development, Pro Global Germany, discussed how the role of Third Party Administrators (TPAs) has evolved as a maturing model within the German-speaking reinsu...
Posted: Oct 24, 2024
Reinsurance Group of America (RGA) and Tongyang Life Insurance Company have agreed to increase coverage of an existing 200 billion Korean Won (KRW) coinsurance contract, originally executed in June 2024. Under the new arrangement, coverage is expa...
Posted: Oct 24, 2024
US primary holding company Donegal Group has announced its financial results for the third quarter of 2024, reporting a net income of $16.8 million, compared to net loss of $0.8 million from the prior year quarter. At the same time, Donegal posted...
Posted: Oct 24, 2024
Global credit ratings agency AM Best is maintaining its stable outlook on Canada’s property & casualty (P&C) industry, amid significant challenges from catastrophic events in 2023 and this year. The rating agency noted that the stabl...
Posted: Oct 24, 2024
Miller, an independent specialist insurance and reinsurance broker, has formed a strategic partnership with CyberCube to enhance its ability to provide comprehensive, data-driven cyber exposure advice. Miller will utilise CyberCube’s Broking...
Posted: Oct 24, 2024
Florida-domiciled insurtech, HCI Group, Inc.’s insurance subsidiaries have successfully assumed over 42,000 policies totalling approximately $200 million of in-force premium from Florida’s state-backed insurance company, Citizens Property Insuranc...
Posted: Oct 24, 2024
Marsh’s Global Insurance Market Index has revealed that commercial insurance rates fell 1% in Q3 of 2024, the first time the index has recorded a quarterly decline since Q3 of 2017. According to Marsh, the insurance broker, risk advisor and...
Posted: Oct 24, 2024