Reinsurance News
Specialty insurer Beazley has launched a new combined consortium, FLEX, offering comprehensive civil liability, crime/fraud, and cyber coverage for financial institutions. The consortium provides a streamlined solution, addressing the full range o...
Posted: Oct 21, 2024
E+S Rückversicherung AG, the Hannover Re subsidiary responsible for German business, has indicated that further price increases and improved terms and conditions are likely at the January 1, 2025, property and casualty reinsurance renewals, follow...
Posted: Oct 21, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has announced two key appointments within its Specialty Lines in Europe and APAC. Mathieu Daubin has been appointed Chief Underwriting Officer, Marine...
Posted: Oct 21, 2024
In the lead up to this year’s Baden-Baden Reinsurance meeting, we spoke to Dirk Herrenpoth, Chief Underwriting Officer of Swiss reinsurer and Munich Re subsidiary, NewRe, about what his general expectations are heading into the key January r...
Posted: Oct 21, 2024
Moody’s Ratings has upgraded Hub International Limited’s corporate family rating to B2 from B3, and its probability of default rating to B2-PD from B3-PD. According to Moody’s this decision was based on Hub’s steady credit metrics and our expectat...
Posted: Oct 21, 2024
Data and telematics insurtech Nirvana Insurance has reached an agreement with MS Transverse Insurance Company, a subsidiary of MS&AD Insurance Group Holdings, to boost its capacity, accelerate its growth trajectory and enable the delivery of b...
Posted: Oct 21, 2024
T. Rowe Price, a global investment management company, has appointed Ben Riley, CFA®, to the newly established position of Head of Insurance, effective January 1, 2025. In this role, Riley will lead a team focused on serving insurance clients in N...
Posted: Oct 21, 2024
The US home insurance industry has experienced an upward trend in loss cost across all perils combined over the past seven years, resulting in catastrophic claims which in turn contribute to rising premiums, LexisNexis stated in a recent report. A...
Posted: Oct 21, 2024
Global ratings agency AM Best has revised the outlooks for Greenlight Capital Re (GLRE), Ltd. and its subsidiaries from stable to positive, while affirming GLRE’s Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-.” The outlooks for both Gree...
Posted: Oct 18, 2024
DGTAL, a provider of generative AI (GenAI) solutions designed specifically for the insurance sector, has become the first insurance-focused AI company to use AI Agents as a core element of its technology platform, marking the company’s most...
Posted: Oct 18, 2024
Andrew Hall, Chief Executive Officer of The Insurance Council of Australia (ICA), disclosed that four unprecedented flood events across 2022 saw more than 305,000 claims and $7.7 billion in incurred losses, including $6.3 billion from just one eve...
Posted: Oct 18, 2024
Howden Re, the reinsurance arm of Howden, has expanded its capabilities in the DACH region with four senior appointments in Germany. Lars Nelson has been appointed Managing Director, Head of German branch at Howden Re, effective 1 January, 2025. N...
Posted: Oct 18, 2024
Everen Specialty Limited, a property and casualty re/insurer, has announced Jerry Rivers, Senior Vice President, and Chief Operating Officer, is to retire on March 31, 2025. Rivers expressed his gratitude, stating: “I want to thank the Board for t...
Posted: Oct 18, 2024
BlackFin Capital Partners, a specialist in Europe’s financial services sector, is excited to announce the successful closing of the BlackFin Financial Services Fund IV at a total of €1.8 billion. This new fund exceeds its initial target of €1.5 bi...
Posted: Oct 18, 2024
Pool-ul de Asigurare împotriva Dezastrelor Naturale (PAID), an insurance pool against natural disasters established in Romania in 2009, has chosen Moody’s to help the company model and manage earthquake risk in Romania. PAID is an insurance organi...
Posted: Oct 18, 2024
Between $75 and $175 million of Hurricane Milton-related pre-tax losses, net of reinsurance, are estimated to impact Travelers’ future natural catastrophe losses, the US insurer revealed following the announcement of its financial results fo...
Posted: Oct 18, 2024
According to J.P. Morgan analysts, hurricane Milton is unlikely to change the dynamics of the reinsurance market heading into 2025, based on current anticipated loss levels. Hurricane Milton approached Florida and made landfall near Siesta Key on...
Posted: Oct 18, 2024
Covering all major flood perils globally with a comprehensive representation of uncertainty and conditioned to the current climate, Fathom’s new Global Flood Cat model gives the industry a “step change” in its ability to manage flood r...
Posted: Oct 18, 2024
The first half of 2024 saw 134 buy-ins completed, with a total value of £15.2 billion, making it the highest number of transactions ever recorded in a six-month period, according to Hymans Robertson, the independent pensions and financial services...
Posted: Oct 18, 2024
Lockton Re, the reinsurance arm of the independent insurance broker, has appointed Srikanta Nandy as Chief Platform Officer, based in New York. Nandy is a 25-year insurance veteran with deep expertise in Global Platform Delivery, Enterprise Data M...
Posted: Oct 18, 2024
In collaboration with Guy Carpenter and Liberty Mutual Reinsurance, AIR Parametric has launched Milkshake, a new parametric insurance product designed to safeguard US dairy producers from heat stress on their livestock herds. According to Air Para...
Posted: Oct 18, 2024
A recent report by QBE North America, in collaboration with Zywave, revealed that many businesses are overlooking additional risk management services included in their cyber insurance policies, underscoring the need for greater awareness to enhanc...
Posted: Oct 18, 2024
AXA XL Reinsurance has appointed Swiss Re’s Greg Schiffer as Chief Executive Officer, North America, Reinsurance, effective 11 November 2024. Schiffer is a seasoned executive with extensive expertise in senior-level reinsurance leadership, c...
Posted: Oct 18, 2024
The Government of Ghana has purchased its first sovereign drought insurance policy, marking a significant step toward protecting vulnerable communities and the agricultural sector from drought. Coordinated by the Global Shield Secretariat, this po...
Posted: Oct 18, 2024
According to initial data analysis by catastrophe risk modeller, CoreLogic, industry-wide insured wind and flood losses from hurricane Milton are estimated at between $17 billion and $28 billion. The total damage from Milton, including losses to u...
Posted: Oct 18, 2024