Reinsurance News
Tokio Marine Kiln (TMK), an insurer in special risks underwriting, and Marsh, an insurance broker and risk management expert, have jointly announced the launch of an exclusive insurance facility for ports and terminals, providing protection agains...
Posted: Sep 25, 2024
Brown & Brown, Inc., the insurance brokerage firm, has appointed Mike Neal and Mark Abate to its senior leadership team and the retail segment senior leadership team. Neal will serve as the Executive Vice President within Brown & Brown’s R...
Posted: Sep 25, 2024
Credit rating agency AM Best has maintained a stable outlook on Peru’s insurance industry despite the growing perception of risk related to political instability in the country. According to the Best’s Market Segment Report titled “Mar...
Posted: Sep 25, 2024
Analysts at Goldman Sachs have reported that the European multi-lines represent c.60% of the market cap under the company’s coverage and offer diversification of earnings both geographically and by line of business. “In a macro environ...
Posted: Sep 25, 2024
Concert Group Holdings (Concert), a privately owned insurance holding company, has announced the establishment of its new risk retention platform, Harmony Re, appointing Katarina Scamborova as President and forming a board of directors. Scamborova...
Posted: Sep 25, 2024
WTW is expanding its presence and broadening offerings focused on the Chinese market with its newly launched China Client Division within Corporate Risk and Broking, North America (CRB NA). The new China Client Division, to be led by Jie Yan, is p...
Posted: Sep 25, 2024
Citing initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ), which place the combined insured loss of four catastrophe weather events this summer in Canada at more than CAD 7 billion, the Insurance Bureau of Canada (IBC) has...
Posted: Sep 25, 2024
Essent Group’s wholly-owned subsidiary, Essent Guaranty, has obtained $363.4 million of fully collateralized excess of loss reinsurance coverage on mortgage insurance policies written in July 2023 through to July 2024 from Radnor Re 2024-1 L...
Posted: Sep 25, 2024
Chedid Capital, an investment group in the insurance and reinsurance industry, has appointed James Illingworth as an Independent NonExecutive Director at Milestone Risk Solutions Ltd in the United Kingdom and a Strategic Committee Member at Moment...
Posted: Sep 25, 2024
A new report from AM Best, a credit rating agency, suggests that Hong Kong’s upcoming risk-based capital regulatory framework will enhance enterprise risk management (ERM) practices for (re)insurers operating in the region. The Best’s Specia...
Posted: Sep 25, 2024
Reciprocal exchanges appear to be in favour following the launch of a notable amount of start-ups in recent years, however, according to a new report from KBRA, the full-service credit rating agency, certain benefits with the ventures can also cre...
Posted: Sep 25, 2024
The latest forecast from the National Hurricane Centre (NHC) is for Tropical Storm Helene to make landfall on the Big Bend region of the Florida panhandle as a major Category 3 or higher hurricane, but as ever, there’s potential for the trac...
Posted: Sep 25, 2024
Several factors, including high commodity prices, volatile inflation, and deteriorating macroeconomic conditions, have challenged the financial strength of sub-Saharan Africa (SSA) reinsurers; however, AM Best highlights their resilience and susta...
Posted: Sep 25, 2024
Global specialty broker Price Forbes has appointed Thomas Russell to the newly created role of Director, Head of Australian and New Zealand (ANZ) Wholesale for Price Forbes Asia. Based in Singapore, Russell will be reporting to Phil Johnson, CEO o...
Posted: Sep 25, 2024
According to the latest Lockton Market report, US commercial insurance market conditions favour buyers across most lines of coverage, however, a sense of uncertainty in terms of both the economy and the insurance marketplace looms over the industr...
Posted: Sep 25, 2024
Paratus Holdings has announced that Paratus Renewables Insurance Limited has been granted regulatory approval by the Guernsey Financial Services Authority (GFSC) to provide insurance cover to the renewable power industry. As a re/insurance group u...
Posted: Sep 25, 2024
Reinsurance market players are divided on whether price increases at the key January 1st renewals will be strong enough to properly account for increasing loss trends in the property catastrophe space, although Fitch Ratings expects reinsurers to...
Posted: Sep 25, 2024
Modern infrastructure, dams, and flood barriers significantly mitigated the impact of the 2024 flooding across Central and Eastern Europe, according to reinsurance broker Guy Carpenter, who has estimated an insured loss between €1.6 billion and €2...
Posted: Sep 25, 2024
Consilium, the global speciality re/insurance broking arm of the Aventum Group, has appointed Marie McCutcheon as its new Chief Operations Officer (COO). McCutcheon joins the leadership team with a focus on achieving operational excellence. In her...
Posted: Sep 25, 2024
SureChoice Underwriters Reciprocal Exchange (SURE), in collaboration with SageSure, has launched its first non-admitted business owners policy (BOP) in California. This new BOP solution comes as California faces fewer insurance options and increas...
Posted: Sep 25, 2024
Selective Insurance Group, Inc. has appointed Patrick S. Brennan as Chief Financial Officer (CFO), effective October 1st, 2024. As Brennan takes over the new position, Tony Harnett, who served as the interim CFO, will continue as Selective’s Senio...
Posted: Sep 25, 2024
At its 150th annual conference in Berlin, Germany, the International Union of Marine Insurance (IUMI), a global association representing marine insurers, presented its analysis of the latest trends in the marine insurance market. In 2023, the glob...
Posted: Sep 25, 2024
Aspen Insurance Group has announced the promotion of G. Robert Walters to SVP and Head of Property Treaty at Aspen Re America, effective October 1st. Walters, who has over three decades of experience in the insurance industry, will be based at Asp...
Posted: Sep 24, 2024
Xceedance, a global provider of technology and digital solutions, has acquired Millennium Information Services (MIS), an insurance inspection and data analytics firm based in the US. This acquisition expands the Xceedance Americas team by nearly 2...
Posted: Sep 24, 2024
The 2024 Travelers Risk Index released by property and casualty insurer, The Travelers Companies, Inc. has disclosed cyber threats as the top concern amongst businesses, for the fourth time in six years. Established in 2014, the annual survey asks...
Posted: Sep 24, 2024