Reinsurance News
Aventum, an international insurance and reinsurance group, is investing in the development of an innovative AI Underwriting Assistant, following its inaugural Bear Cave Innovation Challenge. Every member of staff across Aventum was encouraged to p...
Posted: Aug 12, 2024
TMG Insurance Services, LLC (The Mutual Group), an integrated insurance operations platform serving the mutual industry, has announced the appointment of Patrick Markowski as senior vice president and chief operating officer. AS COO, Markowski wil...
Posted: Aug 12, 2024
As Florida’s property insurance market improves on the back of reforms, Insurance Commissioner Michael Yaworsky has revealed that Progressive is committed to investing in the state, just days after Hurricane Debby’s landfall in the Big Bend...
Posted: Aug 12, 2024
AM Best, a credit rating agency, has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Martello Re Limited, an insurance and reinsurance company based in Hamilton, Bermuda, the outlo...
Posted: Aug 12, 2024
Vietnam National Reinsurance Corporation (VINARE) has announced its financial results for the first half of 2024, reporting a total revenue of VND1,696 trillion, around $68 million dollars, an 8.2% increase year-on-year and attaining 58.1% of the...
Posted: Aug 12, 2024
Howden, a global insurance intermediary group, has acquired UK health and life insurance broker, Help Me Compare Group Limited (ActiveQuote) and its subsidiaries (HMCGL), in a move that is set to bolster Howden’s position across the health i...
Posted: Aug 12, 2024
Sven Althoff, Member of the Executive Board for P&C at Hannover Re, said today that the global reinsurer is not expecting a change in P&C market sentiment despite another active period for catastrophe losses, notably from secondary perils....
Posted: Aug 12, 2024
Rokstone, a speciality re/insurance MGA and part of Aventum Group, has announced the appointments of Stuart Lee as Chief Actuary and Martin Thomas as Head of Underwriting Management. These appointments are expected to enhance decision-making and o...
Posted: Aug 12, 2024
Maiden Holdings has reported a $10.0 million net loss for the second quarter of 2024, compared to a net loss of $2.9 million from the second quarter of 2023. At the same time, the firm posted an underwriting loss of $9.8 million for Q2’24, c...
Posted: Aug 12, 2024
Global insurer QBE has announced the appointment of Ed Rainsford as Chief Risk Officer for Australia Pacific. Rainsford has been with QBE Insurance for a decade, holding various senior roles. He joins the QBE Australia Pacific business from the QB...
Posted: Aug 12, 2024
Aon, a global professional services firm, has released its 2024 Intangible versus Tangible Risks Comparison Report, underscoring the need for businesses across Europe, the Middle East, and Africa (EMEA) to reassess their cyber insurance and intell...
Posted: Aug 12, 2024
Global reinsurer Hannover Re’s Supervisory Board has appointed Brona Magee as a member of the Executive Board, effective January 1st, 2025. Magee succeeds Klaus Miller on the Executive Board, who will remain with the firm in an advisory role. Sinc...
Posted: Aug 12, 2024
Specialty and P&C re/insurer Canopius Group has revealed that its net insurance revenue for H1 2024 was $980 million, up 24% from the same period of 2023, while its net combined ratio (discounted) improved to 85.4%. Meanwhile, the firm’s...
Posted: Aug 12, 2024
PwC has announced the appointment of Gareth Henty as the new Head of Pensions and named Mark Jennings as head of the pensions employer covenant and restructuring team. This move comes as PwC’s pensions practice has been through a period of growth...
Posted: Aug 12, 2024
Large reinsurer Hannover Re has reported a 21% rise in Group net income to €1.2 billion for the first half of 2024, with an 8.8% increase in property and casualty (P&C) reinsurance revenue as large loss costs came within budget at €566 million...
Posted: Aug 12, 2024
GuideOne Insurance Company, a provider of property and casualty insurance and risk management solutions, has announced the appointment of Travis Sheets as Senior Vice President (SVP) and General Counsel. GuideOne outlined that in his new role, “Sh...
Posted: Aug 12, 2024
In 2023, Aon observed that only 6 out of 175 US Property and Casualty (P&C) companies were upgraded by AM Best from an “A-” to an “A” rating based on their own merit, which is below the 5-year average of 9 upgrades per year. In the first half...
Posted: Aug 12, 2024
Zesty AI, a provider of climate and property risk analytics solutions powered by artificial intelligence (AI), and Amica Mutual Insurance, a provider of auto, home and life insurance, have expanded their long-standing partnership. According to the...
Posted: Aug 12, 2024
Ernesto de Lima has been appointed as the new CEO of Oneglobal’s Central America operation, who will aim to drive the company towards new achievements and sustainable growth in the region. A highly experienced insurance and reinsurance professiona...
Posted: Aug 09, 2024
UK insurer RSA Insurance has introduced its enhanced broker and customer claims portal, now powered by Guidewire, a global firm within insurance software, making RSA the first UK insurer to adopt the Guidewire cloud solution. With ClaimCenter on G...
Posted: Aug 09, 2024
Global ratings agency AM Best has removed from under review with developing implications, and affirmed the Financial Strength Ratings (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Accredited Specialty Insur...
Posted: Aug 09, 2024
American Financial Group (AFG) has posted $209 million in net earnings for the second quarter of 2024, compared to $200 million from the second quarter of 2023. According to AFG, Q2’24’s net earnings included after-tax non-core losses...
Posted: Aug 09, 2024
As re/insurers accumulate capital and retain earnings following predominantly positive results, 42% of industry respondents in a recent Reinsurance News poll indicate that growth in existing lines is the most likely area for capital deployment. Th...
Posted: Aug 09, 2024
Global insurance and reinsurance broking group Aon has announced the appointment of Admiral James Stavridis to its Board of Directors, who will be joining August 15, 2024. Lester B. Knight, chair of Aon’s board, commented: “We are plea...
Posted: Aug 09, 2024
Reinsurance companies Munich Re and Swiss Re may benefit from higher reinsurance-policy retention, but a recent report from Bloomberg Intelligence (BI), the research division of Bloomberg L.P., suggests that current pricing does not fully account...
Posted: Aug 09, 2024