Reinsurance News
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has introduced a new cyber insurance policy that extends coverage to help businesses manage risks associated with developing their own Generative AI (...
Posted: Oct 22, 2024
W.R. Berkley Corporation has reported a record Q3 net profit of $365.6 million amid continued strong underwriting margins and increased investment income. The firm’s Q3 2024 return on equity and operating return on equity were 19.6% and 20.0...
Posted: Oct 22, 2024
Specialty insurer RLI Corp. has reported an improved underwriting income of $40.7 million for Q3 2024 with a combined ratio of 89.6%, compared to $4.2 million and a 98.7% combined ratio in Q3 2023. The year-on-year improvement in underwriting come...
Posted: Oct 22, 2024
Global reinsurance broker Gallagher Re has appointed Lara Mowery as Chief Commercial Officer, where she will reportedly oversee the firm’s strategic direction and enhance the delivery of product and practice group capabilities. Mowery is an...
Posted: Oct 22, 2024
Movo Partnership, part of the AUB group and an Appointed Representative (AR) network for brokers, has launched ‘Movo Accelerator,’ a platform designed to help aspiring entrepreneurs start their own broking businesses. Movo Accelerator...
Posted: Oct 22, 2024
Kroll, an independent provider of global risk and financial advisory services, announced that Katherine Keefe will join as Managing Director and Global Cyber Insurance Industry Lead, overseeing the firm’s worldwide cyber insurance capabiliti...
Posted: Oct 22, 2024
Kroll, an independent provider of global risk and financial advisory services, announced that Katherine Keefe will join as Managing Director and Global Cyber Insurance Industry Lead, overseeing the firm’s worldwide cyber insurance capabiliti...
Posted: Oct 22, 2024
Moody’s Ratings has downgraded Saga Plc’s corporate family rating (CFR) and backed senior unsecured debt ratings to B3 from B2 and the probability of default rating to B3-PD from B2-PD. The rating agency has also changed the company’s outloo...
Posted: Oct 22, 2024
A new report by Conning, a provider of investment management and insurance research, titled “Climate Risk: An Imminent Threat to Business,” highlights the growing importance of assessing and managing both physical and transitional clim...
Posted: Oct 22, 2024
Allianz Trade in Asia Pacific has named Harry Edwards as ASEAN Commercial Director effective October 21st, 2024, based in Singapore. He replaces Céline Peredy, who is now Strategic Account Director for Allianz Trade for Multinationals. In his new...
Posted: Oct 22, 2024
INSHUR, a global embedded insurance provider, has raised $19 million in its latest funding round to continue to strengthen market position across the US and Europe, bringing total funding to $78.5 million since 2019. The round was led by Viola Gro...
Posted: Oct 22, 2024
FERMA, the Federation of European Risk Management Associations, represents the interests of risk managers across Europe, and in her opening speech at the FERMA Forum in Madrid, President Charlotte Hedemark urged them to adapt, improve, and innovat...
Posted: Oct 21, 2024
AXA Climate has announced the renewal of parametric insurance coverage for 88 Marine Protected Areas (MPAs) in the Philippines. In partnership with Blue Alliance Marine Protected Areas and Howden, this initiative bolsters the financial stability o...
Posted: Oct 21, 2024
Tokio Marine Kiln (TMK), an international insurer, has appointed Thomas McShane as Head of Technology and Media E&O, a newly created position. McShane will officially join the company in January and will report to Laila Khudairi, Head of Cyber...
Posted: Oct 21, 2024
With a series of late storms causing natural catastrophe losses to rise, pressure on reinsurers to cut pricing and offer more generous terms has eased, according to a new report from Bloomberg Intelligence (BI). As per Charles Graham, BI Senior In...
Posted: Oct 21, 2024
Chinese insurer Ping An has reported its results for the first nine months of 2024, showing a solid 4.5% year-on-year growth in property & casualty (P&C) insurance revenue, reaching RMB246,022 million. At the same time, its P&C operati...
Posted: Oct 21, 2024
China is further opening its massive insurance market by approving the establishment of separate insurance units for BNP Paribas and Prudential Financial. The National Financial Regulatory Administration (NFRA) greenlit a BNP Paribas joint venture...
Posted: Oct 21, 2024
The European reinsurance market remains dynamic, with demand for property reinsurance protection continuing to expand, according to Munich Re. At this year’s Baden-Baden event, the global reinsurer revealed plans to deploy more capital in it...
Posted: Oct 21, 2024
The Lloyd’s Market Association (LMA) has announced the appointment of John Levett as Head of Regulatory Affairs, effective immediately, where he will report to Arabella Ramage, the Legal Director at the LMA. Levett became part of the LMA in...
Posted: Oct 21, 2024
Genillard & Co. GmbH, a well-established reinsurance broker operating for over 20 years, has been acquired by HBC Group. This partnership aligns with HBC Group’s strategic plan to strengthen its market presence and expertise in the highly spec...
Posted: Oct 21, 2024
South Korea’s Financial Services Commission has granted Starr Insurance’s Starr International Insurance (Singapore) Pte. Ltd., Korean branch, a licence to operate in Seoul. This development enables Starr to initiate the sale of commercial property...
Posted: Oct 21, 2024
Travelers Europe, a division of The Travelers Companies Inc., has appointed Mark Clifford as the Active Underwriter for Syndicate 5000 at Lloyd’s and Vice President of Business Insurance (BI) Specialty. Clifford will be part of the Europe Operatin...
Posted: Oct 21, 2024
Miller, an independent specialist in re/insurance broking, has announced the appointment of Satoshi Watanabe to its Japanese subsidiary, Lead Insurance Services Limited (Lead), as part of its ongoing efforts to expand and diversify in Japan. Satos...
Posted: Oct 21, 2024
According to a recent analysis by EY, UK home insurers remained in the red in 2023, only marginally improving on record losses from 2022, posting a loss-making net combined ratio (NCR) of 118% in 2023, a slight improvement from 2022’s 122%....
Posted: Oct 21, 2024
At the latest Baden-Baden Reinsurance Symposium hosted by Guy Carpenter, the reinsurance broking arm of Marsh McLennan, Maria Rapin, Chief Executive Officer (CEO) of Nephila Climate, has highlighted the increasing role of alternative capital in th...
Posted: Oct 21, 2024