Reinsurance News
Ryan Specialty has unified its Ryan Financial Lines (RFL), its international financial lines managing general underwriter, launched in December 2023 and expanded its product offerings, with the first phase implemented in March 2024 with EmergIn Ri...
Posted: Aug 02, 2024
Property and Casualty insurer Skyward Specialty Insurance Group Inc. has bolstered its Healthcare Solutions portfolio and expanded its Transactional Property E&S underwriting units with senior appointments. Julie Miglin has been named Vice Pre...
Posted: Aug 01, 2024
Bermuda domiciled Everest Group’s reinsurance business delivered a strong underwriting result in the second quarter of 2024, and amid still favourable property market conditions, characterised by persistently attractive rates and unwavering...
Posted: Aug 01, 2024
Geo Underwriting, a division of Ardonagh Advisory that offers diverse insurance solutions, plans to acquire Navigators & General (N&G), a marine insurance provider, from Zurich UK. Established in 1921 by Captain William Coombs, a WWI Veter...
Posted: Aug 01, 2024
Tiptree has announced a net income of $12.9 million for the second quarter of 2024, compared to the net income of $6.0 million seen in the same period last year. The company attributed this increase towards growth seen within their insurance busin...
Posted: Aug 01, 2024
Trium Syndicate, a cyber and property catastrophe insurance specialist at Lloyd’s of London, has announced the appointment of Hanna Metsanvirta as Director of Underwriting Performance and Active Underwriter for syndicate 1322. In her new role, Met...
Posted: Aug 01, 2024
UK insurer Legal & General Assurance Society Limited has announced the completion of a £1.1 billion buy-in with the SCA UK Pension Plan, securing the benefits of 5,900 retirees and 3,600 deferred members. Essity Holding UK Limited, part of the...
Posted: Aug 01, 2024
Independent insurance broker Lockton has announced the appointment of Sung Wook Han as Regional Head of Marine for Asia. Sung started his new role on August 1st, having joined Lockton from WTW, where he most recently served as Head of Internationa...
Posted: Aug 01, 2024
Global insurance intermediary group Howden has announced the acquisition of Allianz UK’s Musical Insurance business, which it will incorporate into its music scheme, Lark Music. Following the transaction, the business’ customer base, marketing and...
Posted: Aug 01, 2024
The Hanover Insurance Group, Inc. has reported net income of $40.5 million for Q2 2024, compared to a net loss of $69.2 million in the prior-year quarter, as the company’s combined ratio came down from 111.3% to 99.2% amid lower year-on-year...
Posted: Aug 01, 2024
Cyber insurance provider Coalition has launched its suite of Active Cyber Insurance products in Germany, through its subsidiary Coalition Insurance Solutions GmbH. Coalition’s expansion comes as cyber-attacks and IT system breakdowns stand a...
Posted: Aug 01, 2024
Bermuda-based insurer and reinsurer Arch Capital Group decided against further growing its property catastrophe book at the mid-year renewal given the heightened storm risk, as the firm looks for the right balance across its portfolio, according t...
Posted: Aug 01, 2024
Corebridge Financial, an American multinational financial services company, reported a net income of $365 million for the second quarter of 2024, down from $771 million in the same quarter last year. The firm attributed this change primarily to hi...
Posted: Aug 01, 2024
Global specialty insurer Mosaic Insurance has named Joe Boren as Chair of a new advisory board to drive strategic growth, especially across North America. Boren’s remit will be helping the firm identify other key industry individuals to buil...
Posted: Aug 01, 2024
The World Bank’s recently approved Regional Emergency Preparedness and Inclusive Recovery Program (REPAIR), which African Risk Capacity Limited will implement, is set to enhance Eastern and Southern African countries’ resilience agains...
Posted: Aug 01, 2024
Independent specialist re/insurance broker Miller has announced the acquisition of reinsurance capital advisory business 4809 Brokers AG, its third European acquisition as it continues its expansion in the continent. Miller stated this acquisition...
Posted: Aug 01, 2024
Global reinsurer Hannover Re has announced the appointment of Michael Eberhardt as Managing Director and Chief Underwriting Officer (CUO) of Hannover Re Bermuda. Eberhardt brings nearly two decades of industry experience in various management role...
Posted: Aug 01, 2024
Global re/insurer Markel Group has posted an underwriting profit of $134.2 million for the second quarter of 2024, an 8% decrease from the $145.3 million figure the firm reported last year. At the same time, the organisation’s total operatin...
Posted: Aug 01, 2024
Guy Carpenter, the reinsurance broking division of Marsh McLennan (MMC), has recently appointed Justin Ward as Managing Director, Head of Capital Advisory for the Asia Pacific (APAC) region. In his new role, Ward will be based in Singapore. With o...
Posted: Aug 01, 2024
Bermuda-based insurer and reinsurer, Everest Group, Ltd., has reported net income of $724 million and a Q2 2024 combined ratio of 90.3% as pre-tax underwriting income reached $358 million, driven by a strong result in its reinsurance segment. Year...
Posted: Aug 01, 2024
US primary insurer Allstate has revealed that its net income applicable to common shareholders in Q2 of 2024 was $301 million, up from a net loss of $1.4 billion in the same quarter of 2023, driven by improved Property-Liability underwriting resul...
Posted: Aug 01, 2024
Global insurer AIG has reported a net loss of $4 billion in its second quarter 2024 results, driven by the recognition of a loss as a result of Corebridge deconsolidation, with divested businesses denting the performance of its general insurance (...
Posted: Aug 01, 2024
The global Insurtech sector witnessed a significant rise in funding throughout the second quarter of 2024, amounting to US $1.27 billion, marking the highest levels of funding seen since the first quarter of 2023, according to latest findings unve...
Posted: Aug 01, 2024
Insurance brokerage firm Relation Insurance Services has acquired the assets of H Group Benefits, Inc., a health insurance agency based in Illinois, US. The transaction, which terms were not disclosed, went into effect on June 30, 2024. Tim Hall,...
Posted: Aug 01, 2024
Insurance brokerage firm Relation Insurance Services has acquired the assets of H Group Benefits, Inc., a health insurance agency based in Illinois, US. The transaction, which terms were not disclosed, went into effect on June 30, 2024. Tim Hall,...
Posted: Aug 01, 2024