Reinsurance News
Munich Re North America Life has launched a new longevity reinsurance offering which will reportedly allow clients to accumulate assets while transferring biometric risk. Munich Re North America Life includes Munich Re Life US and Munich Re, Canad...
Posted: Sep 18, 2024
According to Goldman Sachs, the market backdrop for property & casualty (P&C) reinsurance remains favourable, following rates hardening following the impact of Hurricane Ian, and 2023 seeing the strongest subsector return on equity’s...
Posted: Sep 18, 2024
Vortex Weather Insurance, a parametric weather insurtech, has announced an increased available limit of $500,000 for its parametric hurricane insurance, available to businesses along the Atlantic and Gulf Coasts. This type of insurance provides su...
Posted: Sep 18, 2024
Tracy Lee Kus, Head of Aon’s London-based Global Broking Centre, has joined the London Market Group (LMG) board as a representative of London & International Insurance Brokers’ Association (LIIBA). Kus, who has over three decades of experience...
Posted: Sep 18, 2024
The London-domiciled global speciality distributor Amwins, has named Nick Abraham to succeed Nathan Mathis as Chief Executive Officer of its specialty distributor, Amwins Global Risks effective January 1st, 2025. Mathis, who has served in several...
Posted: Sep 18, 2024
In a recent trading update, B.P. Marsh & Partners, the specialist investor in early stage financial services businesses, has revealed that as of July 31st, 2024 it had cash of £80.2 million. The firm also revealed that the current cash and tre...
Posted: Sep 18, 2024
Altea Insurance (Altea), a provider of combined insurance and risk management services for the medical, allied health, and care sectors, has announced its expansion into the European Economic Area (EEA). Launched last summer under the leadership o...
Posted: Sep 18, 2024
Moody’s RMS Event Response has disclosed an estimate for US private market insured losses from Hurricane Francine, which made landfall in Terrebonne Parish, Louisiana, on September 11th, 2024, of less than $2 billion. This estimate includes onshor...
Posted: Sep 18, 2024
IQUW, a property and specialty insurer and reinsurer, has appointed Peter Hearn as an Independent Non-Executive Director to the IQUW Holdings Bermuda Board. Hearn is an industry veteran with over four decades of experience in the global insurance...
Posted: Sep 18, 2024
Marsh McLennan Agency, a subsidiary of Marsh, has appointed Kristof De Bremme as Chief Executive Officer (CEO) and President of Marsh McLennan, Belgium and Luxembourg, based in Brussels He succeeds Rebecca Tielemans and will report to Christos Ada...
Posted: Sep 18, 2024
AM Best, the global credit rating agency, has revised its outlook on Taiwan’s non-life insurance segment to stable from negative, following a recovery of capital strength among carriers in 2023 after suffering sizeable pandemic-related losses in t...
Posted: Sep 18, 2024
Recent data from the International Underwriting Association (IUA) shows that overall premium income for the London company market increased by approximately 10% in 2023, reaching £48.4 billion. This figure includes nearly £43 billion underwritten...
Posted: Sep 18, 2024
HDI Global, a provider of industrial insurance solutions, is addressing the rapid changes in the energy sector by creating a comprehensive Energy Unit, consolidating its expertise in managing energy-related risks. This move allows the company to s...
Posted: Sep 18, 2024
IBM, a technology company, has filed an 8-K report outlining the transfer of a portion of its US defined benefit pension plan obligations to The Prudential Insurance Company of America, a provider of insurance and financial services. In recent yea...
Posted: Sep 18, 2024
Large Italian insurer Generali has agreed to sell its Turkish operation as part of its “Lifetime Partner 24: Driving Growth” strategic plan, with Kiler Holding A.Ş. and Arex Yatırım Holding A.Ş. taking a 42% and 48% stake of the business, respecti...
Posted: Sep 17, 2024
According to AM Best, the US property & casualty (P&C) industry recorded a $3.8 billion net underwriting gain in the first six months of 2024, a major improvement from the $24 billion loss reported in the previous year. The agency stated t...
Posted: Sep 17, 2024
MSIG USA, an insurance subsidiary under MSIG Holdings, has announced the appointment of Mark Thorogood as its new Head of Reinsurance. In his new role, Thorogood will be responsible for leading the company’s reinsurance strategy, encompassin...
Posted: Sep 17, 2024
The Awbury Group and Polo Managing Agency Limited have confirmed that Lloyd’s has granted “in principle” approval for Awbury Syndicate 2025 to commence underwriting from January 1st, 2025. The syndicate will be managed by Polo Managing Agency Limi...
Posted: Sep 17, 2024
Vantage Group Holdings Ltd., a provider of insurance and reinsurance solutions, has announced the promotion of Lila Granda to Head of Political Risk and Credit (PRC). Effective immediately, Granda will join the group’s Insurance leadership t...
Posted: Sep 17, 2024
RBC Capital Markets, the investment banking arm of Royal Bank of Canada, provides a comprehensive analysis of the Monte Carlo RVS 2024, highlighting that reinsurers are steadfastly maintaining their position in renewal negotiations. Following a pe...
Posted: Sep 17, 2024
69% of underwriters and 67% of actuaries are concerned about being replaced by artificial intelligence (AI) in the next five years, according to research from hyperexponential, the pricing platform for global re/insurers. A recent study by the fir...
Posted: Sep 17, 2024
Global specialty underwriter and provider of re/insurance, AXIS Capital Holdings Limited, has announced the appointment of Sara Mitchell as its future Head of Global Markets, succeeding Mark Gregory who will retire from the company in March of 202...
Posted: Sep 17, 2024
There are numerous issues from the soft market era that have not been addressed in the current market, and until they’ve been properly attended to, the re/insurance industry is going to end up where it started, according to Group CEO and CUO of Co...
Posted: Sep 17, 2024
Amwins Special Risk Underwriters (SRU) has enhanced its Excess D&O offering with the addition of a new carrier that holds a dedicated focus on Excess D&O specialty programs. The new carrier is recognized as a major specialty insurer, rated...
Posted: Sep 17, 2024
Bermuda-based global specialty insurance company Ascot Group Limited has revealed that Kewsong Lee, the Founder and CEO of BellTower Partners, will be appointed Chairman of the Ascot Board of Directors. Lee will succeed Neill Currie, Ascot’s...
Posted: Sep 17, 2024