Reinsurance News
Prime Insurance Company, an excess and surplus lines insurance carrier, has announced the appointment of Peggy E. Day as its Executive Senior Vice President of Operations and Strategic Advisor to the CEO. Day has over three decades of experience i...
Posted: Aug 15, 2024
Maritime risks insurer Falvey Insurance Group has announced that Mike Falvey will transition from Chief Executive Officer (CEO) to Executive Chairman, effective January 1st, 2025. Falvey maintains his role as Chairman of the Board, overseeing the...
Posted: Aug 15, 2024
After witnessing strong topline growth across 2022 – 2023, Islamic and Takaful insurers based in the Gulf Cooperation Council (GCC) region are continuing to benefit from favourable growth prospects, which is mainly due to higher insurance de...
Posted: Aug 15, 2024
US primary insurer Progressive’s property business loss estimate reduced by $60.4 million in the month of July, reflecting further development on the May storms. Back in June, property and auto-focused insurance group Progressive announced n...
Posted: Aug 14, 2024
Oliver Wyman, a global management consulting firm and a business of Marsh McLennan, has announced a collaboration agreement with AKA Consulting, an actuarial and risk consulting firm based in the Cayman Islands. Through this collaboration, Oliver...
Posted: Aug 14, 2024
Cowbell, a cyber insurance provider for small and medium-sized enterprises (SMEs), has announced the appointment of insurance veteran Stephen Moss to its Board of Directors. Moss brings three decades of industry experience and is currently Group H...
Posted: Aug 14, 2024
American Integrity Insurance, a regional provider of property insurance, has announced that it now offers coverage for homes up to 75 years old in South Carolina. Since entering the South Carolina market in 2022, the company has been steadily expa...
Posted: Aug 14, 2024
More than 2.6 million homes across 14 US states are at moderate to very high risk of wildfire damage during 2024’s wildfire season, with a total reconstruction cost of $1.3 trillion, according to a new report from CoreLogic, a provider of pr...
Posted: Aug 14, 2024
Reinsurers are expected to cover around four-fifths of the loss in insured property damage caused by Hurricane Beryl in the Caribbean, which is estimated US$500-million, according to Ian Chinapo, Head of Guardian Holdings Limited (GHL), a local in...
Posted: Aug 14, 2024
After a record 2023, the insurance-linked securities (ILS) market again set records in the first half of 2024, with strong catastrophe bond issuance on the back of robust demand from investors, as the secondary market experienced record high tradi...
Posted: Aug 14, 2024
As the California property market experiences a dynamic and challenging time, it faces an escalating risk of wildfires, a peril that needs multiple perspectives in order to understand it, experts stated during Guy Carpenter’s recent Californ...
Posted: Aug 14, 2024
Sompo, a global provider of commercial and consumer property, casualty, and specialty re/insurance, has appointed Aditya V. Tibrewala as Chief Executive Officer of Sompo Insurance (Thailand) PCL (Sompo Thailand), effective immediately. He will con...
Posted: Aug 14, 2024
Amwins, a distributor of specialty insurance products and services, has launched the “Tees-to-Green” flood insurance programme in partnership with Floodbase and supported by highly-rated carriers. This programme is designed to cover US...
Posted: Aug 14, 2024
In their results for the second quarter of 2024, Conifer Holdings has reported a 57.5% decrease in gross written premiums (GWP), falling to $19.0 million, compared to the $44.7 million figure from the second quarter of 2023. According to the firm,...
Posted: Aug 14, 2024
Global insurance broker Acrisure has announced a new leadership team for the Eleven Network, its UK-based retail insurance broking network. Jeff Hobson has been appointed CEO of Eleven Network, joining from Burns & Wilcox, where he previously...
Posted: Aug 14, 2024
Pacific Life Re, the global life and health reinsurer and wholly owned subsidiary of Pacific Life, has bolstered its protection business in Asia Pacific with senior appointments. Tyson Johnston, the current Managing Director of the Australian busi...
Posted: Aug 14, 2024
US primary insurer Allstate has entered into a definitive agreement to sell its Employer Voluntary Benefits business to StanCorp Financial Group, Inc. (The Standard) for $2 billion in cash, adjusted for the closing balance sheet. The transaction i...
Posted: Aug 14, 2024
According to a new AM Best report, a strategic market reset by global reinsurers in 2023 has led to robust technical profits and a shift in industry dynamics. AM Best’s Market Segment Report, Strong Technical Profits Bolster Momentum for Global Re...
Posted: Aug 14, 2024
Aviva has revealed that its group operating profit was £875 million in H1 of 2024, up 14% from the £765 million recorded in H1 of 2023. Meanwhile, Aviva’s General Insurance premiums grew 15% in H1 to £6 billion, with UK&I up 18% and Cana...
Posted: Aug 14, 2024
Global program manager Accredited Insurance Program Management has appointed Stuart McMurdo as President of Accredited UK & Europe, effective October 1st, 2024. McMurdo will be based in London and report to William Spiegel, Chief Executive Off...
Posted: Aug 14, 2024
Xceedance, an insurance-focused consulting, technology and data provider, has become the strategic partner of HDFC ERGO General Insurance, a private-sector general insurance company based in India, to implement Duck Creek’s full suite of SaaS core...
Posted: Aug 14, 2024
Sedgwick, a global provider of technology-enabled risk, benefits and integrated business solutions, has announced the expansion of its global operations to support the sector’s changing needs. As part of the expansion, the firm has appointed...
Posted: Aug 14, 2024
According to an AM Best commentary, the debate over Germany’s compulsory natural catastrophe coverage is hindered by the absence of political agreement between federal states and the central government. AM Best’s report titled, “Politi...
Posted: Aug 14, 2024
As the aviation industry recovers in 2023 after a challenging period, analysis from Allianz Commercial’s Aviation Risk, Claims and Insurance Outlook suggests that nearly 63% of claims were due to collision or crash incidents. Of the 32,000 industr...
Posted: Aug 14, 2024
The fronting market continues its strong growth into 2024 but is becoming increasingly complex, according to a recent report by Conning. This growth is driven by trends in the managing general agent (MGA) sector, rising demand for capacity, and ro...
Posted: Aug 13, 2024