Reinsurance News
Ryan Specialty, the international specialty insurer, has signed a definitive agreement to acquire certain assets of the European managing general agent (MGA), Geo Underwriting Europe BV (Geo Europe), which is part of The Ardonagh Group. The compan...
Posted: Sep 03, 2024
Reinsurance giant’s Munich Re and Swiss Re remain the two largest global reinsurers across the globe according to data from ratings agency AM Best. In prior years, the agency ranked the top 50 global reinsurers in a single list, but now, wit...
Posted: Sep 03, 2024
A combination of higher prices and tighter policy terms, supported by favourable risk/return dynamics and healthy investment income, are among the key drivers supporting the global reinsurance industry, as Moody’s outlook for the sector has...
Posted: Sep 03, 2024
Dale Underwriting Partners, the trading name for Dale Managing Agency Limited’s Lloyd’s Syndicate 1729, has entered the International Professional Indemnity Insurance marketplace. Simultaneously, Ryan Barnes has been appointed Head of Professional...
Posted: Sep 03, 2024
Zurich Insurance Group and its corporate foundation, the Z Zurich Foundation, have launched the Zurich Climate Resilience Alliance (the Alliance) to assess current levels of resilience within vulnerable communities and implement appropriate soluti...
Posted: Sep 03, 2024
Parametric insurance catalyser Skyline Partners and reinsurance giant Munich Re have revealed that a claim triggered by Hurricane Beryl has been paid to the Jamaican Co-operative Credit Union League (JCCUL). The payment was due under a parametric...
Posted: Sep 03, 2024
Underwriting agency Dynamic Reinsurance has announced the promotion of David Vargas Chavez to Operations Director, a role based in Mexico City. “For me this role represents a challenge that I feel prepared to take on, supported by the experience I...
Posted: Sep 03, 2024
A combination of rapid exposure growth and inflationary pressures means that insurers should now be expecting average annual losses (AAL) from global natural catastrophes to reach a new high of $151 billion, according to a new study from Verisk Ex...
Posted: Sep 03, 2024
Copilot for Microsoft 365 has been successfully adopted by 3,000 users at reinsurance giant Swiss Re, with plans to expand its usage across the firm’s entire workforce. According to Microsoft, this deployment marks a significant milestone in...
Posted: Sep 03, 2024
French reinsurer SCOR has appointed Sofia Kyriakopoulou as its new Chief Data & Analytics Officer, where she will further integrate advanced analytics, enabling the firm to harness the full potential of AI and support data-driven decisions acr...
Posted: Sep 03, 2024
The £1.1 trillion of UK defined-benefit (DB) pensions, boosted by yields, should benefit Aviva, Legal & General and Phoenix, which help firms offload pension obligations viewed as an unwelcome liability, Bloomberg Intelligence (BI) believes. T...
Posted: Sep 03, 2024
USAA, a provider of insurance, banking, and investment and retirement solutions for US military veterans, has announced that its President and CEO, Wayne Peacock, will retire in the first half of 2025. Jim Zortman, USAA Board Chairman and retired...
Posted: Sep 03, 2024
Cayman Islands-based reinsurer Topsail Re has announced the key appointments of Joel Belliveau as Vice President of Analytics and Jessica Hall as Reinsurance Accounting Manager. Belliveau joins Topsail Re from National General Insurance, where he...
Posted: Sep 03, 2024
IAT Insurance Group, a specialty property and casualty insurance carrier, has selected CLARA Analytics Claims Document Intelligence Pro (Claims DocIntel Pro) as its newest AI platform to boost its auto and general liability claims process. Accordi...
Posted: Sep 02, 2024
An increasing number of small and medium-sized businesses (SMBs) are seeking cyber coverage, but current cyber catastrophe (CAT) models still struggle to accurately assess SMB risk aggregation, according to a recent report by Guy Carpenter. The re...
Posted: Sep 02, 2024
The African Reinsurance Corporation (Africa Re) posted a gross written premium (GWP) income of US $558.74 million at the end of the second quarter of 2024, representing a 5.56% increase from the US $529.33 million figure that was reported in the s...
Posted: Sep 02, 2024
Aon enhances its capital advisory capabilities with the appointments of Mike Cane as Capital Advisory leader for the UK and Yen Chu Choo as Capital Advisory leader for Asia Pacific (APAC). Mike Cane will be based in London and will report to Kelly...
Posted: Sep 02, 2024
DUAL UK, part of the specialist underwriting arm of Howden Group, has announced its acquisition of International Passenger Protection (IPP) in both the UK and Malta, subject to regulatory approval. This acquisition strengthens DUAL UK’s posi...
Posted: Sep 02, 2024
Miller, an independent specialist in (re)insurance broking has appointed Siva Krishnan as Head of Sports and Entertainment, Asia, as the firm expands its Sports and Entertainment business into the Asia-Pacific region. With over 25 years of experie...
Posted: Sep 02, 2024
According to a new report from AM Best, Munich Re reportedly makes “relatively little use” of retrocession compared with Swiss Re, SCOR and Hannover Re. AM Best’s report observed that Swiss Re has shifted in recent years to incre...
Posted: Sep 02, 2024
QBE Re has announced the addition of five new hires to its Accident & Health (A&H) team, appointing Henry Brigstocke as the new Head of A&H, who is joined by Mollie Sallery as Assistant Underwriter. The reinsurer also added Georgina Ra...
Posted: Sep 02, 2024
Rising Edge, a London-based directors’ and officers’ (D&O) Managing General Agent (MGA), and insurance broker, has announced it has signed an agreement to acquire AMANIKI GmbH. AMANIKI is an independent MGA that has been operating since 2019 u...
Posted: Sep 02, 2024
Global specialist insurer Hiscox has appointed Jane Guyett as an Independent Non Executive Director and Chair of its Remuneration Committee, subject to regulatory approval. Guyett has served in a variety of roles across both the public and private...
Posted: Sep 02, 2024
Europe’s four largest reinsurers, Swiss Re, Munich Re, Hannover Re, and SCOR, benefited from the hard reinsurance market in 2023, with better pricing and terms and conditions, and with strong results reported for the first half of 2024, disc...
Posted: Sep 02, 2024
French reinsurer CCR Re has announced the appointment of Sébastien Jallet as Head of Investment. In his new role, Jallet will be responsible for managing CCR Re’s investments and will report to Executive Management. Bertrand Labilloy, CEO of CCR R...
Posted: Sep 02, 2024