Reinsurance News

The world’s oldest insurance and reinsurance marketplace, Lloyd’s, has had its financial strength rating (FSR) upgraded to A+ (superior) from A (excellent) by AM Best, as Chief Financial Officer (CFO) Burkhard Keese confirms the early...

Posted: Aug 07, 2024

Independent insurance broker Lockton has appointed Tim Ryan to oversee the firm’s largest region as U.S. President, effective immediately. In his new role, Ryan will use his deep knowledge and expertise to drive growth, develop strategy, set prior...

Posted: Aug 07, 2024

The Baldwin Group has announced that total revenue climbed 14% year-over-year to $339.8 million in the second quarter of 2024, compared to $297.1 million from the second quarter of 2023. At the same time, the company also posted organic revenue gr...

Posted: Aug 07, 2024

Whitespace, a Verisk company and fully digital e-trading platform, has launched a new contract data library and enhanced contract builder functionality. The upgraded functionality significantly improves Whitespace’s user interface, enabling users...

Posted: Aug 07, 2024

Global insurance and reinsurance broking group Aon has appointed Ollie Barcock as the new Leader of Aviation Reinsurance for Global ReSpecialty, effective immediately. Barcock will be based in London and report to Richard Wheeler, co-leader of Glo...

Posted: Aug 07, 2024

Legal & General reports a “stable operating performance” in the first half of 2024, with core operating profit of £849 million slightly ahead of the £844 million reported in the same period the year prior. Profit after tax stood at £223 millio...

Posted: Aug 07, 2024

Global insurance intermediary group Howden has strategically partnered with Ultimate Risk Solutions (URS) to utilise their advanced risk-management suite, encompassing economic and regulatory capital management, asset modelling, enterprise risk ma...

Posted: Aug 07, 2024

Aon has renewed its academic partnership with Columbia University until 2027 to include research on the correlation of climate risk across various perils and regions. This renewal follows a successful first phase, where Columbia’s latest pee...

Posted: Aug 07, 2024

Net zero target initiatives are driving increased interest in ESG, which, combined with the democratisation of the private market space in general, is leading to broader transparency efforts in the private credit segment, according to Jon Napoli,...

Posted: Aug 07, 2024

Greenlight Capital Re, Ltd. has reported a dip in its combined ratio to 99.8% for the second quarter of 2024 compared to 96.2% a year earlier, as underwriting income decreased by $5.1 million year-on-year amid elevated losses from severe convectiv...

Posted: Aug 07, 2024

Independent London market wholesale insurance broker, Evolin Broking Limited, has launched its casualty division with a number of senior hires. Firstly, the organisation has appointed Kalani Settle-Rhodes as head of casualty, where she will be bas...

Posted: Aug 07, 2024

Pine Walk Capital Limited, the specialist MGA platform and a wholly owned subsidiary of The Fidelis Partnership, has launched Novagen, a new renewables MGA. The new MGA will reportedly focus on underwriting the full spectrum of renewable technolog...

Posted: Aug 07, 2024

As of August 5th, 2024, residual market insurer the Texas Windstorm Insurance Association (TWIA) had received over 27,000 claims for Hurricane Beryl and has made payment on more than 10,000 claims at a cost of roughly $120 million. Hurricane Beryl...

Posted: Aug 07, 2024

According to a new report from Swiss Re, global insured losses from natural catastrophes have reached $60 billion in H1 of 2024, with severe thunderstorms, mainly in the US, accounting for 70% of the total figure. At $60 billion, global insured lo...

Posted: Aug 07, 2024

IGI has revealed that net income for Q2 of 2024 was $32.8 million, down from $40.5 million in the same quarter of 2023, while its combined ratio was 81.2%, up from 73.5% in the same period last year. According to the firm, its net income was large...

Posted: Aug 07, 2024

Bermuda-domiciled global re/insurer Everest Group, Ltd., has announced the appointment of veteran Bill Hazelton as Executive Vice President of Everest Insurance® & President of North America Insurance. Hazelton will be taking over the role fro...

Posted: Aug 07, 2024

Phinsys, the finance automation software provider for the re/insurance industry, has opened a regional office in Dubai, marking its entry into the Middle East. The strategic expansion aims to tap into the market with an increasing number of insure...

Posted: Aug 07, 2024

Hiscox Re & ILS, the Group’s reinsurance businesses in London and Bermuda and insurance-linked securities (ILS) activity, produced a strong and improved combined ratio of 73.8% for the first half of 2024, while net premiums written in th...

Posted: Aug 07, 2024

Arch Insurance North America, part of Arch Capital Group Ltd., has announced its acquisition of Allianz’s U.S. MidCorp and Entertainment insurance businesses. This deal follows Arch Insurance obtaining regulatory approval on 25th July. Almost 500...

Posted: Aug 07, 2024

Bowhead Specialty, a provider of casualty and professional liability products, has announced its financial results for the second quarter of 2024, reporting a net income of $5.5 million and a 50.4% increase in gross written premiums (GWP). The fir...

Posted: Aug 07, 2024

Ryan Specialty, an international specialty insurance company, has entered into a new exclusive partnership with MagMutual, the mutual insurer of physicians and hospitals in the US. This collaboration will be managed through Sapphire Blue, known fo...

Posted: Aug 07, 2024

Janover Inc., a provider of AI-powered solutions for commercial real estate transactions, has recently shared an update on its insurtech subsidiary, Janover Insurance Group. Launched in March 2024, Janover Insurance achieved profitability by May 2...

Posted: Aug 07, 2024

Ivans, a division of Applied Systems, has reported an increase in average premium renewal rate change across all major commercial lines of business, except for Workers’ Compensation, year over year in July. According to the Ivans Index, July...

Posted: Aug 06, 2024

Saudi Re has reported a 68% rise in insurance revenues for the first half of 2024, climbing to SAR 482.69 million ($128.71 million) from the previous year’s SAR 286.62 million ($76.43 million). At the same time, the company also posted net p...

Posted: Aug 06, 2024

Climate and property risk analytics provider ZestyAI has launched Z-WATER, an AI-powered property-specific model designed to predict the frequency and severity of non-weather water and freeze claims. Non-weather water claims are a leading cause of...

Posted: Aug 06, 2024