Reinsurance News
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
Goosehead Insurance, the independent personal lines insurance agency, has released its financial results for the third quarter of 2024, which includes a $12.6 million net income, a notable improvement from the prior year’s $11.3 million. At...
Posted: Oct 24, 2024
Lloyd’s of London, the specialist insurance and reinsurance marketplace, in collaboration with the United Nations Capital Development Fund (UNCDF), has launched a new disaster resilience vehicle that will provide crucial disaster risk financ...
Posted: Oct 24, 2024
American Coastal Insurance Corporation (ACIC) and its insurance holding company American Coastal Insurance Company (AmCoastal) estimate a gross loss range of $150 to $200 million from Milton. ACIC estimates net current accident quarter catastrophe...
Posted: Oct 24, 2024
A new report from Moody’s has noted that the large losses incurred from Hurricanes Helene and Milton will provide support for the stabilisation of property catastrophe reinsurance pricing going into the January 2025 renewals. “Earlier...
Posted: Oct 24, 2024
Hymans Robertson has further strengthens its risk transfer team with the addition of Mahad Farooqui, an experienced hire who brings a wealth of experience from his time as a consultant at Aon and previously Mercer. Farooqui’s move further bolsters...
Posted: Oct 24, 2024
Oliver Wyman Actuarial, a specialist business within the Oliver Wyman Group, has strengthened its property and casualty (P&C) capabilities in Europe by establishing a London-based presence. To lead this expansion, Matthew Facey has joined the...
Posted: Oct 24, 2024
WTW has launched a new Structured Auto Buffer London Excess (StABLE) facility to transform fleet risk management by providing a risk financing solution through ‘Swing Plan’ structures. “This new offering is an innovative dedicated structured Auto...
Posted: Oct 24, 2024
Ryan Specialty, an international specialty insurance firm, has announced key leadership appointments within its international underwriting segment, Ryan Specialty Underwriting Managers International (RSUMI). Ben Purkiss has joined as Head of Busin...
Posted: Oct 24, 2024
Mission Underwriters, which builds MGAs around experienced underwriters, has launched Carrow Insurance (Carrow), set to focus on Warranty, Accident & Health, and Income Protection products in the UK and Europe Under the leadership of Ronan Con...
Posted: Oct 24, 2024
A recent report from Zurich Insurance Group and Economist Impact reveals that four out of five people believe their city is underprepared for climate-related risks, with major concerns about heat waves, air pollution, water shortages, and flooding...
Posted: Oct 24, 2024
Canada’s economy continues to see notable growth supported by a still favorable labor market, rising asset prices and falling inflation, according to global credit ratings agency AM Best. However, the agency notes that population growth has...
Posted: Oct 23, 2024
Guidewire, a provider of software for property and casualty insurers, has rolled out major enhancements to its PartnerConnect program, alongside new technology innovations. These updates are designed to help insurers modernise their systems, impro...
Posted: Oct 23, 2024
Moody’s outlook remains stable for the Nordic property and casualty (P&C) and life insurance sectors, which according to the firm, reflects both sectors’ robust overall profitability and solvency. Analysts at Moody’s have sug...
Posted: Oct 23, 2024
Aurora, a digital commercial insurance platform, has secured seed funding from QBE Ventures, the investment subsidiary of the global insurer QBE Insurance Group. The funds will be used to enhance Aurora’s lead algorithmic trading proposition, expa...
Posted: Oct 23, 2024
Send Technology Solutions (Send), a UK-based Insurtech software company, has partnered with Deloitte to deliver Send’s underwriting workbench platform to commercial and specialty carriers worldwide. Send’s Underwriting Workbench is an API-enabled...
Posted: Oct 23, 2024
American International Group, Inc. (AIG) has announced its plans to consolidate and expand its Atlanta-area footprint with the relocation of its Alpharetta and Buckhead operations to a new innovation hub To be located at 2002 Summit Boulevard Nort...
Posted: Oct 23, 2024
Coterie Insurance, a technology-driven managing general agent (MGA) focused on simplifying small business insurance, has introduced cyber insurance to its platform through a new collaboration with Berkley Re Solutions and TransUnion. Leveraging co...
Posted: Oct 23, 2024
Catastrophe risk modeller CoreLogic has introduced Navigate, a cloud-based portal offering flexible access to its global suite of over 185 high-fidelity catastrophe risk models. The platform enhances workflows, offering scalability, accessibility,...
Posted: Oct 23, 2024
The London Market Group’s (LMG) Data Council has unveiled a consultation on the structure and fields of its proposed extension of the Core Data Record (CDR) to cover Treaty. According to the announcement, the consultation will run for eight...
Posted: Oct 23, 2024
Broadstone, an independent financial services consultancy, has promoted Jeremy Clack to the newly created role of Head of Commercial Strategy in its Consulting & Actuarial (C&A) division. In this new role, which he will take on in addition...
Posted: Oct 23, 2024
The Australian Securities and Investments Commission (ASIC), Australia’s corporate, markets, and financial services regulator, has commenced court proceedings against QBE Insurance (Australia) Limited, alleging it misled customers about discounts...
Posted: Oct 23, 2024