Reinsurance News
Berkshire Hathaway Specialty Insurance (BHSI), a provider of commercial property, casualty, and specialty insurance, has announced two key leadership promotions. Lars Messutat has been appointed as the Head of General Property for the DACH region,...
Posted: Oct 18, 2024
Beat Capital Partners, a London-based incubator of underwriting franchises and a subsidiary of Ambac Financial Group, Inc., has launched Fallow Grove Insurance Services in partnership with former CrossCover executive Brett Dupre. The Fallow Grove...
Posted: Oct 18, 2024
Global insurance and reinsurance broker Aon has announced the expansion of Christopher Lovino’s role to U.S. Growth Leader, Global Risk Consulting. Lovino brings nearly three decades of experience at Aon, where he has held various leadership posit...
Posted: Oct 18, 2024
Ambac Financial Group, the insurance holding company, has announced that its shareholders have voted to approve the proposed purchase agreement under which funds managed by Oaktree Capital Management LP will acquire its legacy financial guaranty b...
Posted: Oct 18, 2024
The Insurance Development Forum (IDF) has appointed Karina Whalley, Head of Public Sector at AXA Climate, and Ruth Lux, Head of Public Sector IMEA at Guy Carpenter, as new private sector Co-Chairs of the Sovereign and Humanitarian Solutions (SHS)...
Posted: Oct 18, 2024
The Insurance Development Forum (IDF) has appointed Karina Whalley, Head of Public Sector at AXA Climate, and Ruth Lux, Head of Public Sector IMEA at Guy Carpenter, as new private sector Co-Chairs of the Sovereign and Humanitarian Solutions (SHS)...
Posted: Oct 18, 2024
Moody’s RMS Event Response has estimated that total private insurance industry losses from hurricane Milton will fall between $22 billion and $36 billion, as the firm trims its combined Helene and Milton insured loss range to $30 billion to $50 bi...
Posted: Oct 17, 2024
Global reinsurance broker Gallagher Re has announced the appointment of Abdessamad El Angoudi as Head of Agriculture EMEA and Senior Parametrics Sales for International. In his new role, El Angoudi will collaborate closely with Shilpa Pankaj, Inte...
Posted: Oct 17, 2024
During Marsh McLennan’s earnings call for the third quarter of 2024, John Doyle, the company’s President and CEO, explained that the global broker’s $7.75 billion acquisition of McGriff Insurance Services, LLC, is expected to be...
Posted: Oct 17, 2024
US primary insurer Allstate reported estimated catastrophe losses of $889 million ($702 million after tax) for September, which includes $630 million in pre-tax losses related to Hurricane Helene, with total catastrophe losses for the third quarte...
Posted: Oct 17, 2024
Demand for reinsurance and insurance catastrophic coverage in Brazil is expected to grow following the floods that struck the Brazilian state of Rio Grande do Sul earlier this year, says S&P Global Ratings. In a new report, S&P noted that...
Posted: Oct 17, 2024
At Swiss Re’s Baden-Baden media conference, Nikhil da Victoria Lobo, Head of P&C Reinsurance for Western & Southern Europe, Middle East & Africa, emphasised that rising global instability will lead to more Strikes, Riots, and Civil Com...
Posted: Oct 17, 2024
Dean Klisura, Chief Executive Officer (CEO) of Guy Carpenter, the reinsurance broking arm of Marsh McLennan, stated during the firm’s recent earnings call that although it’s still early, post hurricane Milton the broker sees a flatteni...
Posted: Oct 17, 2024
The Travelers Companies has today reported an underwriting gain of $685 million for the third quarter of 2024 despite a rise in catastrophe losses, net of reinsurance, to $939 million, while substantial net favorable prior year reserve development...
Posted: Oct 17, 2024
In an interview with Reinsurance News, Abdou Alassane, Technical Lead, Crisis Anticipation and Risk Financing at Start Network, emphasised that pooling funds and transferring some risk to the insurance market has enhanced Start Network’s hum...
Posted: Oct 17, 2024
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has reportedly generated revenue of $381 million in Q3 of 2024, an increase of 6% compared with the same quarter of 2023. Marsh McLennan’s Risk & Insurance Services unit, whic...
Posted: Oct 17, 2024
Insurance industry intermediary, Specialist Risk Group (SRG), has appointed Collin Yap as Chief Executive Officer (CEO) of Asia Pacific, after his current employment contract ends in the new year. This leadership appointment aligns with SRG’s broa...
Posted: Oct 17, 2024
NFP, a subsidiary of Aon and an international insurance brokerage and consultancy, has announced its acquisition of IHI Group, a Dublin-based advisory firm specialising in financial planning, healthcare, and general insurance services. Philip Bren...
Posted: Oct 17, 2024
Argenta has strengthened its D&F Property Team with the appointment of Sarah Reeve as Senior Underwriter, a London-based role. Reeve will be joining Hannah Wyatt, Unit Head of Open Market Property, and James Blackwell, Divisional Head of Prope...
Posted: Oct 17, 2024
Lilypad Insurance Holdings has completed its acquisition of Centauri Specialty Insurance Company and Centauri National Insurance Company, effective September 30th, 2024, following the receipt of all necessary regulatory approvals. The strategic ac...
Posted: Oct 17, 2024
AXA XL has grown its presence in the Australia market by appointing Chris McElroy and Amanda Rattue as Senior Underwriters for Property and Financial Lines respectively, while also naming Trent Jeuring as Senior Underwriter, Casualty. McElroy join...
Posted: Oct 17, 2024
Cytora, a digital risk processing platform, has teamed up with Meetrisk, a provider of advanced marine risk intelligence. This collaboration integrates Meetrisk’s Marine Platform into Cytora’s sophisticated underwriting productivity to...
Posted: Oct 17, 2024
Dallas-domiciled surplus lines insurance carrier, AM Specialty Insurance Company (ASIC), has entered a strategic capital partnership with Veritex Bank by obtaining a $20 million senior secured loan facility through a private placement with Veritex...
Posted: Oct 17, 2024
AXA Insurance has renamed its China reinsurance business, XL Re China, to AXA International Re, according to finews.asia. This reportedly follows AXA’s acquisition of the mainland China unit in April. Sally Wan, CEO of AXA Greater China, commented...
Posted: Oct 17, 2024
Insurer HCI Group expects to pay between $600 million and $750 million to policyholders across all three events, with net retained losses for the company far lower at around $185 million as a result of its comprehensive reinsurance arrangements. T...
Posted: Oct 17, 2024