Reinsurance News
Analysts at RBC Capital Markets expect Hurricane Francine to be a highly manageable loss event for the P&C insurance industry, most likely in the very low billions, with a minimal impact to reinsurers. On September 11th, Francine made landfall...
Posted: Sep 13, 2024
Hurricane Francine, the sixth named storm of the Atlantic hurricane season, made landfall over coastal Louisiana on September 11th as a Category 2 storm, and is expected to drive insurance industry wind and storm surge losses of up to $1.5 billion...
Posted: Sep 13, 2024
Cytora, a digital risk processing platform, has partnered with Mitiga Solutions, a provider of science-based climate risk intelligence, to offer insurers enhanced insights into their climate risk exposure, enabling more informed decision-making. I...
Posted: Sep 13, 2024
Pro MGA Global Solutions, the independent managing general agent (MGA) incubation arm of Pro Global, an advisor in the specialist insurance industry, has hired Haris Khan as its new Head of Solutions and Markets, effective November 1, 2024. Haris...
Posted: Sep 13, 2024
UK-domiciled, digital managing general agent (MGA) Ripe has appointed Alan Thomas as Chief Executive Officer (CEO) to usher in the company’s next growth phase, subject to regulatory approval. Thomas succeeds Paul Williams, who, after almost...
Posted: Sep 13, 2024
Michigan-domiciled property and casualty holding company Conifer Holdings has announced that as of August 30th, 2024, it completed the sale of its insurance agency operations for $45 million, subject to transaction expenses and customary purchase...
Posted: Sep 13, 2024
Parametric insurtech CelsiusPro and Tower, a New Zealand and Pacific insurer, have successfully launched the previously announced IT platform for parametric insurance distribution for Tower, beginning with its Cyclone Response Cover in the Pacific...
Posted: Sep 12, 2024
Davies, the specialist in professional services and technology, has appointed Paul O’Brien as its first Group Chief Artificial Intelligence (AI) Officer. This appointment comes as the firm makes significant investments to leverage innovation and c...
Posted: Sep 12, 2024
Independent insurance broker The Ardonagh Group, has hired renowned industry veteran Mark Mitchell to support the expansion of its business operations in Asia. Based in Singapore, Mitchell will work with Ardonagh’s businesses in the region –...
Posted: Sep 12, 2024
Core Specialty Insurance Holdings and its subsidiaries have announced the expansion of its surety offerings by entering the contract surety market. The firm’s new Surety division, part of its Bond, Credit & Guarantee subsegment, was establishe...
Posted: Sep 12, 2024
French reinsurer SCOR has announced that after nine years of service as Chief Executive Officer (CEO) of SCOR Life and Health (L&H), US and 40 years working in the industry, J.C. Brueckner has decided to retire at the end of this year. Brock R...
Posted: Sep 12, 2024
PURE Insurance, a US-based property and casualty insurer, is expanding into Canada with a new office in Toronto that will begin offering its unique reciprocal model to high-net-worth homeowners in Ontario. PURE will provide coverage for affluent h...
Posted: Sep 12, 2024
Lloyd’s, the world’s oldest insurance and reinsurance marketplace, is planning to introduce a series of changes to modernise and streamline how it addresses misconduct and problematic behaviours in the market, including both financial and no...
Posted: Sep 12, 2024
Moody’s Ratings has revised its outlook for the UK property & casualty (P&C) sector to stable from negative, which the agency attributes towards P&C personal lines cover, such as motor insurance, rising sufficiently to absorb cla...
Posted: Sep 12, 2024
Global insurance broker WTW has appointed Adrian Ruiz as Head of FINEX GB Cyber & TMT, succeeding Glyn Thoms, who will assume the newly created role of Global Cyber Strategic Development Leader. In his new position, Ruiz will report to Marcus...
Posted: Sep 12, 2024
Gallagher has launched a new business in Bermuda to provide specialty insurance solutions, aiming to expand its presence and capitalise on growth opportunities. Gallagher already has a strong client base in Bermuda, alongside its treaty reinsuranc...
Posted: Sep 12, 2024
The construction insurance market is experiencing a notable increase in capacity, reaching levels last seen in 2019, according to the newly released Global Construction Rate Trend Report by WTW, a global insurance broker. This expansion is anticip...
Posted: Sep 12, 2024
Pension Insurance Corporation plc (PIC), the specialist insurer of UK defined benefit pension schemes, has reported its financial results for the first half of 2024, posting an adjusted operating profit before tax (AOPBT) of £272 million, compared...
Posted: Sep 12, 2024
Ryan Specialty, the international specialty insurer, has appointed Michael F. Albian as President, Group Captives, for Ryan Alternative Risk (RAR). In the new role, Albian will be responsible for further developing a full-service consulting and ca...
Posted: Sep 12, 2024
EuroTempest, a provider of storm and weather risk management services in Europe for the re/insurance industry, has announced the launch of its Global Weather Validation tool, designed to help insurers validate weather-related claims worldwide with...
Posted: Sep 12, 2024
According to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ), the Calgary hailstorm during early August has resulted in nearly $2.8 billion in insured losses, making it the second-costliest event in Canada’s histor...
Posted: Sep 12, 2024
Fidelis Insurance Group, the global specialty insurer, has appointed 20-year industry veteran Jason Kittinger as Group Chief Operating Officer. Kittinger, who is based in London, will report to Fidelis Insurance Group’s Chief Executive Officer, Da...
Posted: Sep 12, 2024
Demex, the risk analytics and intelligence firm offering reinsurance solutions for severe convective storms, has created a new Advisory Board comprising seasoned insurance executives, John DeMartini, Alastair Speare-Cole and Matthias Weber. The an...
Posted: Sep 12, 2024
Tom Davison has joined Horwich Farrelly (HF), legal advisers in the insurance and commercial sectors, as Partner & Head of Property, Risks, and Coverage. In his new role, and part of the firm’s continued expansion, Davison will head the growin...
Posted: Sep 12, 2024
AdvantageGo, a provider of commercial insurance and reinsurance software and part of Coforge, has entered into a new partnership with Ping Data Intelligence (Ping), an insurance technology firm known for its AI-powered data ingestion, cleansing, a...
Posted: Sep 12, 2024