Reinsurance News
Insurtech provider Zywave has launched Cyber Quoting, the latest addition to its comprehensive portfolio of quoting and proposal solutions. The centralised quoting platform seamlessly connects global cyber insurers with US distribution partners th...
Posted: Apr 22, 2024
Heavy rainfall, storms, and widespread flooding hit Southwestern Asia, notably the United Arab Emirates (UAE), between April 8-17, causing significant economic and insured losses estimated to potentially reach into the hundreds of millions of USD,...
Posted: Apr 19, 2024
Speaking during the Marsh McLennan Q1 2024 earnings call, Dean Klisura, CEO of reinsurance broker Guy Carpenter, explained that US casualty was challenging at the April 1st, 2024, renewals, with reinsurers “exerting pressure on pricing and t...
Posted: Apr 19, 2024
The strong growth in the number of new licences the Cayman Islands Monetary Authority (CIMA) has issued in the first quarter of 2024 is encouraging, as it demonstrates the region continues to attract new reinsurers, recent statistics have revealed...
Posted: Apr 19, 2024
Moody’s has changed the outlook of Peak Reinsurance Company Ltd. to stable from negative along with affirming the firm’s insurance financial strength rating (IFSR) as Baa1. The outlook change is attributed to Moody’s view that co...
Posted: Apr 19, 2024
Managing general agent (MGA) Pen Underwriting has announced a new strategic partnership with global re/insurer SiriusPoint, in support of the specialist housing association sector, with a long-term capacity deal. According to the announcement, the...
Posted: Apr 19, 2024
Global non-life specialty insurer R&Q Insurance Holdings Ltd (R&Q) has announced the addition of Stephen Welch and Lawrence Hirsh to its Board as Non-Executive Directors. Having worked for financial sponsors and investors in both executive...
Posted: Apr 19, 2024
A recent report from Swiss Re Institute has highlighted how four climate-related weather perils – floods, tropical cyclones, winter storms in Europe and severe thunderstorms, that now cause annual losses of USD 200 billion, are said to be “i...
Posted: Apr 19, 2024
Intact Insurance Specialty Solutions, the U.S. insurance subsidiary of Intact Financial Corporation, has named Scott Reinke as the Chief Underwriting Officer (CUO) for its Transactional Surety team. In the new role, Reinke’s remit will inclu...
Posted: Apr 19, 2024
After several years of significant increases in insurance costs, followed by weighty decreases over the past 18 months, organisations are beginning to see a leveling off in premiums for both Directors & Officers (D&O) and cyber insurance,...
Posted: Apr 19, 2024
Insurance broker The Clear Group has appointed Mandy Hunt as the Managing Director of its MGA business, subject to regulatory approval. Hunt joins the main Clear Group operating board, and brings significant experience from several leadership role...
Posted: Apr 19, 2024
Gallagher Re’s Q1’24 Natural Catastrophe and Climate Report underscores the critical need for the insurance industry to evaluate unexpected factors that extend event loss behaviour, while also addressing the growing challenge of social...
Posted: Apr 19, 2024
Legacy acquirer DARAG Insurance Guernsey Limited (DIGL) has announced it is to acquire a Cayman Islands-based re/insurance captive. The firm has signed a sale and purchase agreement (SPA) for a re/insurance captive from a very large multinational...
Posted: Apr 19, 2024
Bermuda-based insurer and reinsurer AXIS Capital Holdings Limited has announced the appointment of Pauline Morley as Head of E&O in the US, effective immediately. In her new role, Morley will be in charge of leading the growth and advancement...
Posted: Apr 19, 2024
Findings from the recent report by the Capgemini Research Institute highlight that although 62% of insurance executives recognize the positive impact of AI/ML on underwriting quality and fraud reduction, many P&C underwriters remain sceptical...
Posted: Apr 19, 2024
Allianz Commercial has announced the promotion of Alex Ktenidis to the senior role of director of digital trading and Allianz Legal Protection (ALP). In his new capacity, Ktenidis will lead the profitable growth of Allianz’s digital trading and le...
Posted: Apr 19, 2024
Blue Ocean Reinsurance Group, a newly established managing general agent (MGA) platform, has announced the appointment of Chad Smith to the position of Chief Accounting Officer. In this capacity, Smith will oversee Blue Ocean Re’s accounting...
Posted: Apr 19, 2024
Ivans, a division of Applied Systems, has released the Q1 2024 results from the Ivans Index, showing a spike in premium renewal rate change for all major commercial lines of business except Workers’ Compensation, year over year. The average premiu...
Posted: Apr 19, 2024
Speciality managing general agent (MGA) Optio Group has announced the appointment of Heather Goodhew as an independent non-executive director (INED). Having held senior positions in re/insurance for over three decades, Goodhew brings a wealth of o...
Posted: Apr 19, 2024
The southern African region is currently facing one of the worst droughts it has seen in decades, with millions said to be facing extreme food insecurity and water shortages, amidst a growing climate crisis, fuelled by the El Niño weather phenomen...
Posted: Apr 19, 2024
UK broker and underwriter Jensten has secured over £170 million in new borrowing facilities over the past six months, cementing the firm’s commitment to advancing its growth plans throughout 2024 and beyond. Ultimately, this £170 million funding b...
Posted: Apr 19, 2024
John Doyle, President and CEO of broking group Marsh McLennan (MMC), said earlier today that reinsurance market conditions remain stable, and that early signs suggest a better environment for cedents at the June 1 Florida catastrophe risk renewals...
Posted: Apr 18, 2024
The Board of Directors of Generali, chaired by Andrea Sironi, has approved a new organizational structure to reflect its main activities proposed by Philippe Donnet, Group Chief Executive Officer. Effective June 1st 2024, the Generali Group will o...
Posted: Apr 18, 2024
McGill and Partners has appointed Abhishek Suroiwal as Partner in its Treaty Reinsurance team. Suroiwal joined McGill and Partners in 2022 as an Associate focusing on AI, data science and data engineering. Before this, he worked as a Data Scientis...
Posted: Apr 18, 2024
Applied Underwriters has revealed its plan to sell Centauri Insurance to the newly formed Arbol subsidiary, Lilypad Insurance. The transaction is subject to regulatory approval and is anticipated to close within the next 45 days. As per Applied, L...
Posted: Apr 18, 2024