Reinsurance News

Porch Group, a homeowners insurance and vertical software platform, has reported total revenue of $110.8 million, which increased 12% compared to the same period the prior year, with an improved net loss of $64.3 million in the second quarter of 2...

Posted: Aug 08, 2024

Nexus Underwriting, a specialty Managing General Agent (MGA), has announced the appointment of Seline Low as the new Deputy Head of Accident & Health (A&H) Reinsurance for Asia. Based in Singapore, Low will work alongside Justin Yeo, the H...

Posted: Aug 08, 2024

Liberty Mutual Holding Company Inc. (LMHC) has posted a net income of $717 million for the second quarter of 2024, up substantially from the net loss attributable to LMHC of $585 million in the same period in 2023. At the same time, the organisati...

Posted: Aug 08, 2024

Bermuda-based re/insurer SiriusPoint recently posted its seventh consecutive quarter of positive underwriting results in Q2 2024, partly attributable to new managing general agent (MGA) partnerships and the expansion of existing ones, according to...

Posted: Aug 08, 2024

Bermuda-based re/insurer Hamilton Insurance Group has reported an all-time low combined ratio of 84.4% in the second quarter of 2024 compared to 89.5% in Q2 2023, as underwriting income improved from $34.9 million to $65.3 million. The firm’s gros...

Posted: Aug 08, 2024

Digital insurance company Embroker has appointed Andrew (Andy) Lea as Chief Insurance Officer (CIO) and promoted Kristy Malm as Chief Operating Officer (COO). The firm stated these appointments follow a series of significant milestones for Embroke...

Posted: Aug 08, 2024

Zurich has announced that its group business operating profit (BOP) climbed to a record $4 billion in H1 of 2024, marking an increase of 7% compared to the same period of 2023. The firm’s net income attributable to shareholders also increase...

Posted: Aug 08, 2024

In their results for the second quarter of 2024, Allianz has posted a €3.9 billion operating profit, with all of the company’s segments contributing to this result, whilst the firm’s property & casualty (P&C) segment business p...

Posted: Aug 08, 2024

Bermuda-based Lancashire Holdings Limited has reported that gross premiums written (GPW) increased by $98.2 million, or 8.3% year-on-year to approximately $1.3 billion for the first half of 2024, split $734 million reinsurance and $547 million ins...

Posted: Aug 08, 2024

Legacy acquirer DARAG Group has agreed to sell its North American and Bermuda business entities to the RiverStone Group. According to DARAG, this transaction will simplify its operations, permitting the firm to focus on its core European business....

Posted: Aug 08, 2024

Tokio Marine HCC, a global insurance group based in Houston, Texas, and part of the Tokio Marine Group, one of Japan’s largest and oldest insurance companies, has announced two significant promotions within its UK Trade Credit Division. Fion...

Posted: Aug 08, 2024

Bermuda-domiciled global insurer and reinsurer Everest Group has established a global broker management team which will be led by Anthony Izzo as Chief Global Broking Officer. The new team will be dedicated to the shared priorities of its global d...

Posted: Aug 08, 2024

London-headquartered insurer Beazley has announced a significant rise in its H1 2024 profit before tax, reaching $728.9 million, a sharp increase from the $366.4 million recorded in H1 2023, while the company’s undiscounted combined ratio im...

Posted: Aug 08, 2024

Global reinsurer Munich Re has today reported that its reinsurance business contributed €1.3 billion and €3.2 billion to the Group’s net result in Q2 and H1 2024, respectively, and despite a rise in major loss expenditure, the property and c...

Posted: Aug 08, 2024

RT Specialty, the wholesale distribution division of Ryan Specialty, has promoted Jason Lentz to President of RT Specialty High Net Worth, RT Specialty’s national high net worth personal lines practice. Lentz, who is based in Las Vegas, Nevada, ha...

Posted: Aug 08, 2024

Arden Insurance Services LLC, an MGA focused on insurance for residential condominium associations, has teamed up with Green Shield Risk Solutions, a catastrophe risk mitigation specialist based in Chicago, to tackle the increasing wildfire threat...

Posted: Aug 08, 2024

The Government of Malawi and its Replica partner, the United Nations High Commissioner for Refugees (UNHCR), have received insurance payouts of just over $11.6 million from the African Risk Capacity (ARC) following the 2023/23 El Niño-driven droug...

Posted: Aug 08, 2024

VIPR, a technology solutions provider in the delegated underwriting sector, has recently announced the appointment of Chantal Dawson as Global Head of Customer Success. In her new role, Dawson will enhance VIPR’s account management and custo...

Posted: Aug 07, 2024

London-based insurtech platform for specialty insurance, Insurwave, has entered into a strategic partnership with Ambrey, an organisation within martitime security risk management, which will see both firm’s produce an integrated, comprehens...

Posted: Aug 07, 2024

Areas in the US endangered by wildfires, flooding, and extreme heat saw thousands more people moving in than out in 2023, according to a recent Redfin report. High-fire-risk counties in the US experienced 63,365 more people move in than out, with...

Posted: Aug 07, 2024

Everest Insurance, the insurance division of Bermuda-based re/insurer Everest Group, has appointed Stephen Buonpane to lead its US Wholesale and Programs business and named Danielle Stewart as Chief Operating Officer. In his new role, Buonpane wil...

Posted: Aug 07, 2024

The CrowdStrike outage is expected to drive greater demand for cyber insurance as it highlighted the risks businesses and individuals are to face when impacted with an event like this, according to Hiscox Group Chief Underwriting Officer (CUO), Jo...

Posted: Aug 07, 2024

CFC, an insurance provider specialising in emerging risks and cyber coverage, has announced the expansion of its UK Cyber Development team with two new appointments. Joe Tracey has been promoted to the role of Cyber Development Leader for the UK &...

Posted: Aug 07, 2024

White Mountains Insurance Group has released its Q2 2024 results, revealing that gross written premiums within its Ark/WM Outrigger segment rose to $697 million, up from $606 million in the same period of 2023. Meanwhile, Ark/WM Outrigger’s...

Posted: Aug 07, 2024

Super-regional P&C insurance holding company, Heritage Insurance Holdings, Inc., has reported a year-on-year improvement in its second second quarter 2024 combined ratio to 92.5% from 95.1%, as net income more than doubled in the period. The f...

Posted: Aug 07, 2024