Reinsurance News
Even with the further easing of conditions at 1.1, the property catastrophe reinsurance market is priced to produce target expected returns for reinsurers, according to Aon’s Reinsurance Market Dynamics January 2025 Renewal report. With stro...
Posted: Jan 08, 2025
Sompo, a provider of commercial and consumer property and casualty (P&C) re/insurance, has appointed Pablo Diago as Chief Claims Officer, Asia Pacific (APAC), effective immediately. Based in Singapore, Diago will report to Kenneth Reilly, Chi...
Posted: Jan 08, 2025
Sompo, a provider of commercial and consumer property and casualty (P&C) re/insurance, has appointed Pablo Diago as Chief Claims Officer, for the firm’s commercial and consumer insurance business in Asia Pacific (APAC), effective immedia...
Posted: Jan 08, 2025
Sompo, a provider of commercial and consumer property and casualty (P&C) re/insurance, has appointed Pablo Diago as Chief Claims Officer, for the firm’s commercial and consumer insurance business in Asia Pacific (APAC), effective immedia...
Posted: Jan 08, 2025
FM, a commercial property insurer, has confirmed its acquisition of Velocity Specialty Insurance Company (VSIC), Velocity’s wholly owned E&S insurance carrier, with the deal expected to close in the first half of 2025. This acquisition f...
Posted: Jan 08, 2025
Specialist insurer Hiscox has appointed Shali Vasudeva as its new Group Chief Operations and Technology Officer (COTO), succeeding Stephane Flaquet, who is departing the firm. Vasudeva joins Hiscox after five years as Chief Operating Officer of AX...
Posted: Jan 08, 2025
Sollers Consulting and mea Platform have entered into a partnership that will see both companies help insurers improve their digital capabilities within underwriting and claims. The partnership will reportedly have a strong focus on Lloyd’s...
Posted: Jan 08, 2025
VIG Re, the reinsurance arm of Prague-domiciled Vienna Insurance Group, has appointed Ivana Jurčíková, a current Board member, to the newly created role of Chief Operating Officer (COO), while Wolfgang Hajek joined the Board as Chief Financial Off...
Posted: Jan 08, 2025
Munich Re has announced the appointment of Christa Schwimmer as Chief Executive for its Specialty Reinsurance and Lloyd’s & Bermuda business. In this role, Schwimmer will join Stefan Golling, Member of the Board of Management at Munich R...
Posted: Jan 08, 2025
Florida-based American Coastal Insurance Corporation (ACIC) has renewed its catastrophe excess of loss agreement (AOP CAT agreement), which provides up to $90 million in per-occurrence coverage above a $10 million attachment point, and has also se...
Posted: Jan 08, 2025
Governor of California Gavin Newsom has proclaimed a state of emergency as more than 30,000 people in Los Angeles have been ordered to evacuate a large and dangerous wildfire which covers around 3,000 acres and continues to grow, threatening thous...
Posted: Jan 08, 2025
Ethiopian Reinsurance (Ethio Re) has reported strong financial results for the 2023/24 fiscal year, achieving an impressive 60% growth in net profit to 391 million birr, despite rising natural and man-made catastrophes. The results were presented...
Posted: Jan 08, 2025
Global insurance and reinsurance broking group Aon has announced the appointment of Renuka Nar as Head of Broking for its Life and Health (L&H) reinsurance business in India. In her new role, Nar will report to Shailendra Sapra, CEO of Reinsur...
Posted: Jan 08, 2025
DXC Technology, a global technology services provider, has launched AI Impact, an initiative designed to help customers across industries innovate securely and achieve real business outcomes through artificial intelligence (AI). DXC supports globa...
Posted: Jan 08, 2025
French reinsurer CCR Re has sponsored the seventh vintage of its collateralised reinsurance sidecar vehicle, 157 Re 25. According to the announcement, CCR Re has made a number of improvements to the operation of 157 Re to facilitate future renewal...
Posted: Jan 08, 2025
Aon, a global professional services firm, has formed a partnership with Moody’s to provide insurance and risk management solutions for clients. This collaboration allows Aon’s Credit Solutions teams to connect their clients with Moody’s, helping t...
Posted: Jan 08, 2025
Jack Falvey has officially assumed the role of Chief Executive Officer of maritime risks insurer, Falvey Insurance Group, effective January 1st, 2025, following the previously announced appointment of Mike Falvey as the Executive Chairman. Falvey...
Posted: Jan 08, 2025
Insurer Core Specialty and its subsidiaries have entered into a series of transactions with certain subsidiaries of Argo Group International Holdings to acquire the renewal rights and related unearned premium reserves for a significant portion of...
Posted: Jan 07, 2025
Porch Group, a homeowners insurance and vertical software platform, has completed the formation of Porch Insurance Reciprocal Exchange (PIRE), a new homeowners insurance reciprocal exchange, alongside the sale of Homeowners of America Insurance Co...
Posted: Jan 07, 2025
Global broking group Aon expects the reinsurance market to remain largely attractive for both buyers and sellers of protection in the months ahead, but has called on reinsurers to demonstrate their value as they target top line growth. In its late...
Posted: Jan 07, 2025
Benoît-Laurent Yerna, Chief Risk Officer (CRO) and Board Member of Belgium domiciled insurer Ethias Group, has revealed that after months of work, Ethias Re, the firm’s brand new reinsurance company, has officially launched. Ethias Group is...
Posted: Jan 07, 2025
London-domiciled, Lloyd’s Approved Coverholder, energy sector managing general agent Volt Underwriting has appointed Louis Scott as Senior Underwriter, Power and Renewable Energy, effective immediately. Scott joins the firm after spending 12 years...
Posted: Jan 07, 2025
Lovell Minnick Partners (LMP), a private equity firm focused on investing in financial services, business services and fintech, has signed a definitive agreement to make a strategic growth investment in the independent financial services consultan...
Posted: Jan 07, 2025
Specialty insurer Ryan Specialty has agreed to acquire Nashville, Tennessee-based managing general underwriter Velocity Risk Underwriters, LLC for $525 million from funds managed by Oaktree Capital Management, L.P., expanding its property catastro...
Posted: Jan 07, 2025
AXA XL, the property and casualty (P&C) and specialty risk division of global insurer AXA, has appointed Robert Malone as Head of Large Accounts and Portfolio Management of its Cyber Insurance team in the Americas. Based in New York, Malone re...
Posted: Jan 07, 2025