Reinsurance News
Neptune Flood, a private flood insurance provider in the US, has hit a major milestone with 200,000 policies and $250 million in premiums. This marks a new stage in the company’s efforts to deliver cutting-edge, affordable insurance options...
Posted: Sep 04, 2024
According to Moody’s, most respondents to its annual survey of global property & casualty reinsurance buyers expect prices to remain stable or increase in 2025, suggesting that reinsurers will maintain healthy pricing and tight terms and...
Posted: Sep 04, 2024
Our insurance-linked securities (ILS) focused sister publication, Artemis has partnered with Wilmington Trust to host a live webinar on October 31st, 2024, during which four ILS sector experts will discuss the catastrophe bond and broader ILS mark...
Posted: Sep 04, 2024
Insurance and financial services company Aviva and Nirvana, a media, tech and cyber Managing General Agent (MGA) have announced a new partnership and European cyber insurance binder. Through the multiyear agreement, Nirvana will have the authority...
Posted: Sep 04, 2024
CFC, an insurance provider specialising in emerging risks and cyber coverage, has announced the promotion of Philippa Berry to the newly created role of Head of Portfolio Partnerships. In this role, Berry will manage reinsurance for CFC’s cyber bu...
Posted: Sep 04, 2024
A new vehicle called Sophrosyne Partners LLC has been launched to provide European and North American corporates with finality solutions, designed to benefit all stakeholders in the liability chain. Sophrosyne has been founded by legacy liability...
Posted: Sep 04, 2024
In a new report based on CyberCube’s cyber risk aggregation tool, Portfolio Manager, mid-range projections suggest that the US standalone cyber insurance market could reach $45 billion in premium by 2034, marking a five-fold increase from today. C...
Posted: Sep 04, 2024
Pension Insurance Corporation (PIC), a specialist insurer of defined benefit pension schemes, has completed a £1.3 billion buy-in of the Coats UK Pension Scheme, which covers pensions of 18,042 Scheme members. Coats Group plc is a British multinat...
Posted: Sep 04, 2024
The Clear Group, an insurance broker, has announced its acquisition of Accelerate Underwriting, a specialist in the MGA sector, marking The Clear Group’s fourth MGA acquisition, further strengthening its underwriting services for brokers. Founded...
Posted: Sep 04, 2024
According to analysts at Fitch Ratings, global reinsurers are likely to maintain stringent terms and conditions to limit their exposure to secondary perils “as weather-related losses become increasingly significant and volatile due to climat...
Posted: Sep 04, 2024
Specialist insurer Beazley has announced the appointment of Christopher (Chris) Merl as Country Manager for the DACH region (Germany, Austria, and Switzerland). In addition to this role, Merl will also serve as Head Partner Engagement, DACH. Based...
Posted: Sep 04, 2024
VIG Re, the reinsurance arm of Prague headquartered Vienna Insurance Group, has announced that Tobias Sonndorfer will take over from Johannes Martin Hartmann as Chief Executive Officer (CEO) and Chairman of the Board, effective January 1st, 2025....
Posted: Sep 04, 2024
Acrisure Re, the re/insurance division of Acrisure, has made leadership changes within its international reinsurance division, appointing David Sowrey as Managing Director and Nigel Dane as Chairman of Acrisure Re’s International Treaty business....
Posted: Sep 04, 2024
Global specialty re/insurer SiriusPoint has announced a new strategic partnership with travel insurtech Gigasure, which offers customisable insurance policies for travellers and backpackers. Policies will be underwritten by SiriusPoint, who become...
Posted: Sep 04, 2024
Brit Ltd has appointed Jonathan Stephenson as Head of Office, Bermuda, subject to approval by the BMA and the Department of Immigration. As Head of Office in Bermuda, Stephenson will drive the planned expansion of Brit Re across property, casualty...
Posted: Sep 04, 2024
Markel, the insurance operations within Markel Group, has appointed Rhys O’Neill as Senior Underwriter, Marine & Energy Liability, International Specialty, with immediate effect. He will be based in London and report to Grant Smith, Director o...
Posted: Sep 04, 2024
Industrial insurer HDI Global SE, part of the Talanx Group, has announced the appointment of Stephan Geis as the new Managing Director for Germany, effective November 1, 2024. In the role, he will report to Dr Barbara Klimaszewski-Blettner, member...
Posted: Sep 04, 2024
An Indian tax agency has discovered that British insurer Aviva violated local regulations capping commissions to sales agents by using fake invoices and clandestine cash payments between 2017 and 2023. According to a tax notice issued in early Aug...
Posted: Sep 04, 2024
Cyber risk solutions company Resilience, has announced the appointment of Rebecca Jones as Senior Vice President of Engineering and Jeremy Gittler as Global Head of Claims. “As we continue to invest in our business, we are thrilled to bring senior...
Posted: Sep 03, 2024
Ryan Specialty has signed a definitive agreement to acquire the property & casualty (P&C) MGUs owned by Ethos Specialty Insurance, LLC (Ethos P&C) from Ascot Group Limited, with the acquisition expected to close during September 2024....
Posted: Sep 03, 2024
Member companies of the Association of Bermuda Insurers and Reinsurers (ABIR) reported record gross written premium of over $171 billion in 2023, up from the $145 billion figure that was reported in 2022. These figures stem from ABIR’s global unde...
Posted: Sep 03, 2024
Global insurance broker WTW has launched a new property facility, Client Edge Facility, with specialty re/insurer Canopius. This exclusive property option, now available in the market, was developed by WTW Corporate Risk and Broking, North America...
Posted: Sep 03, 2024
Aon, via its protected cell company White Rock Insurance Company PCC Limited, has facilitated a new $45.5 million Randolph Re private catastrophe bond, marking the first time a cat bond has been issued using a Guernsey PCC structure. This new seri...
Posted: Sep 03, 2024
Global rating agency AM Best has affirmed its “A” (Excellent) Financial Strength Rating (FSR) and its “a” (Excellent) Long-Term Issuer Credit Rating (ICR), both with a stable outlook, for Active Capital Reinsurance, Ltd. (Active Re). The rationale...
Posted: Sep 03, 2024
Global ratings agency S&P Global expects the reinsurance industry to earn its cost of capital once again in 2024-2025, cementing its stable outlook view of the sector, but warns that discipline must be maintained amid casualty risks. In 2023,...
Posted: Sep 03, 2024