Reinsurance News
Hurricane Milton can still drive property catastrophe reinsurance prices higher at January 1 renewals, but perhaps only at a low pace, analysts at Keefe, Bruyette & Woods (KBW) suggest. Late last night Hurricane Milton made landfall as a Categ...
Posted: Oct 10, 2024
Zurich North America, a commercial property and casualty insurer, has appointed Nora Hattauer as Head of Financial Lines for its U.S. National Accounts and Middle Market businesses. Based in Atlanta, Hattauer will oversee the direction, management...
Posted: Oct 10, 2024
Munich Re Specialty, part of the Munich Re Group insurance operations, has established a Spanish branch of Munich Re Risk Solutions Ireland Limited, making its first steps into commercial market for primary specialty insurance in the country. The...
Posted: Oct 10, 2024
PGIM Multi-Asset Solutions (PMA), the solutions specialist of PGIM, has announced the appointment of Mao Dong as Co-Head of Portfolio Management. PGIM was recently selected as the asset manager for an $11 billion reinsurance transaction by Prudent...
Posted: Oct 10, 2024
A new study conducted by insurance and reinsurance broking group Aon and the National Center for the Middle Market (NCMM), has revealed two key trends that are supporting the growth of middle market businesses: workforce dynamics and technology ad...
Posted: Oct 10, 2024
As the US presidential election approaches, the potential for political violence, including large-scale protests, is increasing due to the current volatile political landscape, according to data from Verisk’s global risk unit. This election is one...
Posted: Oct 10, 2024
Blue Ocean Reinsurance Group, the newly established managing general agent (MGA) platform, has added three key professionals to its expanding team: Nico Kleine Punte, joins the leadership group to oversee the firm’s accounting operations, De...
Posted: Oct 10, 2024
With Hurricane Milton recently making landfall near Sarasota, Florida, as a Category 3 major hurricane, Icosa Investments has updated its estimates for insured losses to between $20 billion and $60 billion, adding the range is still subject to cha...
Posted: Oct 10, 2024
hyperexponential, a pricing platform for global re/insurers, has launched its first templated reinsurance model aimed for treaty reinsurance, including Excess of Loss (XoL). This move, hyperexponential stated, marks the company’s next stage...
Posted: Oct 10, 2024
Placing Platform Limited (PPL) has entered a multi-year agreement with Microsoft to accelerate its transition from a transaction platform to a data-driven trading hub. This collaboration will see the integration of Microsoft’s data and AI capabili...
Posted: Oct 10, 2024
Starwind Specialty Insurance Services, a division of CRC Group, has introduced a new environmental unit, which will be led by Mike Padula. In this position, Padula will oversee the creation of a comprehensive range of environmental products, posit...
Posted: Oct 10, 2024
In a new commentary, AM Best warns that Hurricane Milton poses a significant threat to the Florida-concentrated property insurers that lack diversification. AM Best believes that diversified, large insurers and reinsurers would be able to absorb l...
Posted: Oct 10, 2024
Cowbell, a cyber insurance provider for small and medium-sized enterprises (SMEs), has reported significant growth as it marks the first anniversary of its expansion into the UK. From January to June 2024 alone, Cowbell’s results show contin...
Posted: Oct 10, 2024
In their pre-landfall loss forecasts for Hurricane Milton, Steve Bowen, Chief Science Officer at reinsurance broker Gallagher Re, said private insurance market losses ranging from $30 billion to $40 billion could be expected, while BMS Group’s Sen...
Posted: Oct 10, 2024
Given that many primary P&C insurers are already near their 2024 catastrophe budgets due to H1 losses, S&P believes Hurricane Milton, along with other weather-related losses, could fully exhaust these budgets. However, reinsurers may still...
Posted: Oct 10, 2024
Home insurance firm Hippo has appointed 25-year industry veteran, William Malone as the Vice President, Head of Agency effective immediately. Malone will lead Hippo’s sales, account management, and customer support functions. He has previous...
Posted: Oct 10, 2024
Global insurance broker WTW and Keylane, a policy administration system provider in the Netherlands, have partnered to help insurers enhance their real-time pricing and speed to market. According to the announcement, this collaboration will help t...
Posted: Oct 10, 2024
The Centre for Disaster Protection, an organisation focused on enhancing financial support and preparedness for disaster response in low- and middle-income countries, presents its latest annual report, The State of Pre-arranged Financing for Disas...
Posted: Oct 10, 2024
According to the latest Insurance Marketplace Realities report from WTW, an advisory, broking, and solutions firm, commercial insurance rates have maintained steadiness and balance throughout the year across North America. WTW notes that new capit...
Posted: Oct 09, 2024
Protective Life Corporation (Protective), a U.S. subsidiary of Dai-ichi Life Holdings, has entered into agreements to sell Concourse Financial Group Securities (Concourse Securities) and Concourse Financial Group Agency (Concourse Agency). This in...
Posted: Oct 09, 2024
Earnix, a global provider of AI-based SaaS pricing and rating solutions for financial services, has announced the appointment of Jessica Buss, Chief Executive Officer of Argo Group, to its Board of Directors. A highly respected leader in the prope...
Posted: Oct 09, 2024
Icosa Investments, a catastrophe bond fund manager, has projected potential insurance industry losses from Hurricane Milton, ranging from $15 billion to over $150 billion, depending on the storm’s landfall location, intensity, and path. “To...
Posted: Oct 09, 2024
NFP, a company under Aon and a broker in property and casualty (P&C) insurance, benefits consulting, wealth management, and retirement plan advising, has acquired Richard S. Miller & Sons, Inc. dba Miller Insurance Group (MIG), a P&C a...
Posted: Oct 09, 2024
With the U.S. National Hurricane Center now placing the entry point of Hurricane Milton about 40 miles south of Tampa, Florida, Morningstar DBRS has suggested that insured losses could be “substantial but not catastrophic”, sitting in...
Posted: Oct 09, 2024
With its projected path and intensity, Hurricane Milton has the potential to become one of the most expensive storms to hit Florida, analysts at RBC Capital Markets, the investment banking arm of Royal Bank of Canada, predict. Currently, Hurricane...
Posted: Oct 09, 2024