Reinsurance News
Markel, the insurance arm of global re/insurer Markel Group Inc., has appointed Jamie Mullarkey to the role of Global Executive Underwriting Officer for Property and First Party Lines. In this global role, Mullarkey will lead the strategy for prop...
Posted: Sep 05, 2024
Digital risk processing platform Cytora has partnered with Overstone, the data-driven art evaluator, in a move that will allow speciality insurers to gain access to Overstone’s art intelligence through Cytora’s platform. From what we understand, t...
Posted: Sep 05, 2024
A new whitepaper from Zurich Insurance Group and Marsh McLennan underscores the urgent need for greater public sector involvement to strengthen societal resilience against catastrophic cyber events. As cyber threats evolve rapidly, they are outpac...
Posted: Sep 05, 2024
International insurance and reinsurance group Aventum has revealed that during this year its gross written premium (GWP) has reached a significant $1.86 billion, as the company confirms that it is now entirely owned by all of its employees as it w...
Posted: Sep 05, 2024
Delta Capita, a provider of financial services consulting, managed services, and technology solutions, has announced the appointment of Bhavesh Mulji as the UK Head of Insurance. Mulji, who will be based in London, will report directly to Sarah Ca...
Posted: Sep 05, 2024
Reinsurance renewals in 2024 have seen pricing gradually decrease, partly driven by an increase in alternative capital to $110 billion, combined with rate reductions being granted by reinsurers for the best performing risks. In its Reinsurance Ren...
Posted: Sep 05, 2024
Experienced reinsurance executive Hannah Njoki has joined Howden Re as Director – Reinsurance Broker East Africa. Njoki will reportedly be based in Dubai and work with Howden Re’s existing team to support clients across the East Africa...
Posted: Sep 05, 2024
BMS Re, the reinsurance division of global broker BMS Group, has appointed Brad Melvin as President and Chief Executive Officer (CEO) of BMS Re, US, effective from November, subject to regulatory approval. In the meantime, Group CEO Nick Cook and...
Posted: Sep 05, 2024
French reinsurer CCR Re has today announced profit of €970 million for the first half of 2024, up 7% year-on-year at current exchange rates, as the profitability of the firm’s non-life business improved. For CCR Re’s life business, tur...
Posted: Sep 05, 2024
A new Gallagher Re report that tracks the capital and profitability of the global reinsurance industry has revealed that total capital continued to climb during H1 of 2024, reaching $766 billion, up 5.4% from 2023. At the same time, the reinsuranc...
Posted: Sep 05, 2024
Asta, a third-party managing agent at Lloyd’s, has strengthened its senior management team with the addition of David Hopkins as deputy chief underwriting officer, Alex Poracchia as transformation director and Julie Flello as head of client manage...
Posted: Sep 05, 2024
Lloyd’s, the world’s oldest insurance and reinsurance marketplace, has reported a 24%, or £600 million year-on-year rise in underwriting profit to £3.1 billion for the first half of 2024, as the market produced its best interim combine...
Posted: Sep 05, 2024
Specialist Risk Group (SRG), the insurance intermediary, has acquired Capulus, the specialist motor fleet managing general agent (MGA), based in Wales. According to the announcement, Capulus’ team, which consists of 21 colleagues, will join...
Posted: Sep 05, 2024
Bishop Street Underwriters, the multi-boutique insurance platform owned by RedBird Capital Partners, has announced a strategic joint venture with Skyward Specialty Insurance Group to support growth of its Differentiated MGA Platform. The joint ven...
Posted: Sep 05, 2024
Hexaware, an IT services and solutions provider, looks to accelerate insurance pricing transformation with its recent Earnix partnership, a global provider of AI-based SaaS pricing and rating solutions for financial services. The partnership aims...
Posted: Sep 05, 2024
Distinguished Programs, a national insurance programmes manager, has appointed Ashley Mehyo as Vice President of Claims for its Fine Art and Collectibles programme. With over seven years of industry experience, Mehyo has specialised in Fine Art &#...
Posted: Sep 04, 2024
Chubb has announced the appointment of Greg Giardiello as Global Controller, succeeding Mong-Diep “Dee” Le, who was recently named Chubb’s Chief Auditor. Based in Chubb’s Philadelphia office, Giardiello will be reporting to...
Posted: Sep 04, 2024
EPIC Insurance Brokers & Consultants (EPIC) has expanded its presence in the midwest of the US with the acquisition of Phillips Bros. Insurance Agency. Based in Chicago, Phillips Bros. is a multi-line firm that focuses on private client and co...
Posted: Sep 04, 2024
After 2023 saw substantial reinsurance market corrections, including the restructuring of programs and the reset of pricing, 2024 has focused on the details, but according to executives at Guy Carpenter, while pricing is expected to continuously r...
Posted: Sep 04, 2024
Tokio Marine HCC (TMHCC) – Specialty Group, part of the Tokio Marine HCC companies based in Houston, Texas, has announced the addition of a malicious cyber event extension to its cancellation product. This enhancement is available through both its...
Posted: Sep 04, 2024
MNK Re, an independent broker of specialist risks into Lloyd’s, has announced the appointment of Mark Ritson as Director of Energy. In this role, Ritson will focus on expanding MNK Re’s energy portfolio, leading efforts to develop and secure more...
Posted: Sep 04, 2024
In the August 2024 results of the Ivans Index, year over year, Commercial Auto, BOP, General Liability, Commercial Property and Umbrella experienced notable increases in average premium renewal rates, while premium renewal rates decreased for Work...
Posted: Sep 04, 2024
While progress has been made in adopting flood mitigation measures for new builds in the UK, Flood Re warns that a lack of transparency, consistency, and clarity is undermining the insurance sector’s confidence in the planning system and threateni...
Posted: Sep 04, 2024
Allianz UK has announced the addition of Graham Wright to its growing personal lines business, appointing him Managing Director of Home Insurance. Reporting to Serge Raffard, he will join the UK personal lines leadership team in December, and will...
Posted: Sep 04, 2024
Global insurance group Enstar has announced that its 35-day “go-shop” period, provided with the previously announced definitive merger agreement with Sixth Street, expired on September 2, 2024. The definitive merger agreement involves Sixth Street...
Posted: Sep 04, 2024