Reinsurance News
Aon, the global re/insurance broking group, has appointed Mona Barnes as Global Chief Claims Officer, effective immediately, reporting to Joe Peiser, Chief Executive Officer (CEO) of Commercial Risk. As Global Chief Claims Officer, Barnes will be...
Posted: Sep 17, 2024
Specialist insurance provider CFC has developed a new insurance policy, first deployed with Standard Chartered Bank, designed to cover commercial loans to carbon credit projects. “In a true first for both the insurance and carbon finance mar...
Posted: Sep 17, 2024
The Bermuda life reinsurance market has expanded rapidly in recent times, and in 2024 alone, the Bermuda Monetary Authority (BMA) has licensed an additional seven new players, while both existing and new entities have looked to innovate and refine...
Posted: Sep 17, 2024
mea, a GenAI-powered global platform for insurers, has announced that Swiss Re has selected its platform to enhance its insurance and reinsurance operations, strengthening their existing partnership. This expanded partnership builds on their succe...
Posted: Sep 17, 2024
According to a recent Moody’s Ratings report, property and casualty (P&C) insurers are expected to absorb most of the losses from Hurricane Francine, which made landfall in Terrebonne Parish, Louisiana, on September 11, 2024. Hurricane Francin...
Posted: Sep 17, 2024
Guy Carpenter, the reinsurance broking division of Marsh McLennan, has announced the appointment of Heather Legg as Managing Director (MD) of its Canadian broking team. In her new role, Legg will be based in the firm’s Toronto, Canada office...
Posted: Sep 17, 2024
Price Forbes Re, an independent specialist risk strategy and reinsurance broker, is expanding its facultative team across all product lines with the appointments of Fred Few Brown and Jonathan Gerken. In his new role, based in London, Few Brown wi...
Posted: Sep 17, 2024
Everest Insurance, the insurance division of Bermuda-domiciled insurer and reinsurer, Everest Group, has established a new brand called Everest Evolution for its fast-growing US Wholesale business. The move was driven by an established demand for...
Posted: Sep 17, 2024
Global insurance intermediary group Howden has launched into the Japanese retail insurance broking and captive consulting and management markets with the acquisition of Foresight Holdings Co. Ltd, appointing Takuya Aibe as CEO of its Japanese reta...
Posted: Sep 17, 2024
The Insurance Council of Australia (ICA) has appointed Steve Johnston, Suncorp’s Chief Executive Officer and Managing Director, as Chair of the ICA Board, effective January 1st, 2025. Johnston joined the ICA Board as a Director in August 202...
Posted: Sep 17, 2024
One of the biggest challenges currently facing the Asian re/insurance market is the substantial protection gaps, particularly for natural catastrophes, according to Franz-Josef Hahn, Chief Executive Officer of Peak Re. Reinsurance News spoke to Ha...
Posted: Sep 17, 2024
Brit Ltd, the global specialty insurer and reinsurer, has expanded its Private Client team with the appointments of Vijay Mithal, Billy Lynch and Chris Lewis. They each bring a deep degree of experience within the High Net Worth (HNW) market along...
Posted: Sep 17, 2024
Broadstone’s latest Insurance Risk Monitor suggests that the CrowdStrike event challenges the cyber insurance market’s conventional focus on malicious actors, highlighting an opportunity to offer more comprehensive coverage for non-mal...
Posted: Sep 17, 2024
Fitch Ratings, the credit rating agency, has reported that reinsurers will likely push for double-digit increases in US casualty premium rates during policy renewals in January 2025, as companies look to keep pace with elevated loss costs. This ad...
Posted: Sep 16, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has promoted Anthony Lamb to Global Underwriting Manager, Marine, as part of the firm’s Global Chief Underwriting Office. An experienced veteran...
Posted: Sep 16, 2024
Privately insured losses from Hurricane Francine have been initially estimated as close to $1.5 billion, according to catastrophe risk modelling specialist Karen Clark & Company (KCC). Hurricane Francine, a Category 2 storm with sustained maxi...
Posted: Sep 16, 2024
Specialty insurance firm Ryan Specialty has completed the acquisition of Ethos Specialty Insurance’s P&C managing general underwriters (MGUs) From Ascot Group Limited. Ryan Specialty had signed a definitive agreement to acquire these MGUs back...
Posted: Sep 16, 2024
Everest Insurance International has announced the launch of its new office in Bogotá, Colombia: Everest Compañía de Seguros Generales Colombia S.A., following regulatory approval from the Superintendencia Financiera de Colombia. This launch marks...
Posted: Sep 16, 2024
Allianz has revealed that Thomas Lillelund will be joining Allianz Global Corporate & Specialty SE (AGCS) as CEO in early 2025. He will also reportedly assume leadership of Allianz Commercial, Allianz Group’s integrated global model for servin...
Posted: Sep 16, 2024
Amphitrite Underwriting London, a marine specialist managing general agent (MGA), has received its final approval from Lloyd’s of London to become an approved coverholder. The MGA stated that securing the coverholder status represents a significan...
Posted: Sep 16, 2024
Liberty Mutual Reinsurance (LM Re), the reinsurance arm of Boston headquartered Liberty Mutual Insurance Group, has hired Manja Kollmann from Generali Germany as its new Chief Operating Officer (COO), based in London. In her new role, Kollmann has...
Posted: Sep 16, 2024
The Lloyd’s Market Association (LMA) has launched a market-wide consultation on the new Computable Binding Authority Agreement (CBAA) model wording, developed with support from Lloyd’s, LIIBA, MGAA, and the IUA. The draft CBAA model wording...
Posted: Sep 16, 2024
Akur8, a machine learning-powered insurance pricing and reserving platform, has secured $120 million in series C funding which will significantly bolster the company’s capacity to broaden its product portfolio and drive its expansion within global...
Posted: Sep 16, 2024
Following meetings with executives at the recently held 2024 Rendez-Vous de Septembre (RVS) in Monte Carlo, analysts at KBW have reported that reinsurers remain positively disposed toward most specialty lines, which primarily reflects the rate ade...
Posted: Sep 16, 2024
In an interview with the Financial Times (FT), Joachim Wenning, CEO of global reinsurer Munich Re, described calls for property reinsurance rate cuts as “asymmetric”, suggesting that reinsurers will hold firm ahead of the 1.1 2025 rene...
Posted: Sep 16, 2024