Reinsurance News
AXIS Capital has revealed that net income available to common shareholders in Q2 of 2024 was $204 million, up from $143 million in Q2 of 2023, while gross written premiums (GWP) increased by $156 million, or 7%, to $2.4 billion. Within this GWP gr...
Posted: Jul 31, 2024
Bermuda-based Conduit Re has reported a 25% rise in comprehensive income to $98.1 million for the first half of 2024, as gross premiums written (GPW) swelled 36% to $737.8 million on the back of strong growth in both property and specialty. Group-...
Posted: Jul 31, 2024
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Ratings of Tennessee Farmers Insurance Companies (TFIC), a move influenced by the company’s deteriorating performance due to large claims resulting from signif...
Posted: Jul 31, 2024
Global reinsurance giant Swiss Re has named Anders Malmström as its new Group Chief Financial Officer (CFO), effective April 1st, 2025, succeeding John Dacey, who retires from his executive role on March 31st, 2025. Dacey will continue to represen...
Posted: Jul 31, 2024
According to a recent analysis by Morningstar DBRS, the Italian insurance sector has mostly overcome the challenges of the difficult operating environment it faced in 2023, and the current outlook is improving. Recently published data has shown th...
Posted: Jul 31, 2024
ReSource Pro, a provider of business process solutions for the insurance industry, has announced the appointment of Saima Shaukat as Senior Vice President, Retail Practice. Shaukat will leverage her deep technology and industry experience to provi...
Posted: Jul 31, 2024
New Zealand insurance carriers need to update their claims handling processes and ensure their staff are trained accordingly in order to adapt to the changes brought by the implementation of the Natural Hazards Insurance Act 2023 (NHI Act). Gallag...
Posted: Jul 31, 2024
For the foreseeable future, SCOR’s Global P&C CEO, Jean-Paul Conoscente, expects the property and casualty (P&C) reinsurance market to remain broadly where it is today after the renewals of 2024, absent any major events. SCOR reporte...
Posted: Jul 30, 2024
The number of insurance and reinsurance companies based in the Dubai International Financial Centre (DIFC) has grown to 125 companies, up from 110, the centre has reported in its results for the first half of 2024. An international financial hub i...
Posted: Jul 30, 2024
European Managing General Underwriter (MGU) SRS Altitude, a specialist in Alternative Risk Transfer (ART), has partnered with Generali Global Corporate & Commercial for ART underwriting solutions. Through this partnership SRS aims to leverage...
Posted: Jul 30, 2024
Gradient AI, the provider of proven artificial intelligence (AI) solutions for the insurance sector, has raised $56.1 million in Series C funding, in a round led by Centana Growth Partners, with participation from existing investors MassMutual Ven...
Posted: Jul 30, 2024
Karma Wallet, a financial platform dedicated to sustainability and social impact, has strategically partnered up with Palomar, an innovative specialty insurer serving residential and commercial clients to launch Karma Wallet Card. The card aims to...
Posted: Jul 30, 2024
The majority of respondents to a recent Reinsurance News poll believe the total re/insurance industry loss from the CrowdStrike-linked IT outage will surpass $1 billion, with 38% of voters anticipating that losses could exceed $1.5 billion. Accord...
Posted: Jul 30, 2024
Resilience and optimism is what has characterised the renewable energy sector, despite climate issues, supply chain disruption, casualty deterioration, social inflation and geopolitical conflicts, according to a recent report by WTW. However, over...
Posted: Jul 30, 2024
Swiss Re’s latest US economic forecasts predict steady global GDP growth and decreasing inflation, but evolving risks could disrupt this outlook, prompting the firm to update its three alternative economic scenarios to reflect current global condi...
Posted: Jul 30, 2024
The successful passage of a package of bills designed to reform Louisiana’s property insurance market is a key step towards restoring confidence in the state, and according to Insurance Commissioner Tim Temple, there’s more to come. It was announc...
Posted: Jul 30, 2024
Greggs plc Pension Trustees Limited, the Trustee of the Greggs plc 1978 Retirement and Death Benefit Scheme, has completed a £100 million bulk annuity agreement with Aviva, an insurance and financial services provider, which covers most of the Sch...
Posted: Jul 30, 2024
Worldlink Specialty has partnered with Oneglobal Broking to introduce “AeroPRO,” a comprehensive professional liability insurance solution tailored for the US aviation and aerospace sector. AeroPRO, supported by Lloyd’s of London marke...
Posted: Jul 30, 2024
1970 Group, the specialised risk financing provider for the insurance sector, has secured a growth capital investment from Bain Capital Insurance, the insurance investing unit of Bain Capital, in a move that is set to support the firm’s cont...
Posted: Jul 30, 2024
Gallagher has appointed Aldo Borsani as the Head of Cyber for Europe, where he will enhance the firm’s products and services, collaborate with existing clients and teams across Europe, and lead new business growth. Borsani brings nearly ten...
Posted: Jul 30, 2024
Global insurance group Enstar has reported net earnings of $126 million for the second quarter of 2024, a substantial increase from $21 million in Q2 2023. The company’s return on equity (ROE) improved to 2.5% this quarter, compared to 0.5%...
Posted: Jul 30, 2024
Global reinsurance giant Swiss Re has promoted Nicole Fera to lead its Regional 1 Reinsurance market division in the United States. Fera is an experienced reinsurance industry professional, having spent over 16 years at Swiss Re. As the Head of Re...
Posted: Jul 30, 2024
Andy Foot has joined Howden Re as Managing Director, Marine, Energy & Terror Treaty, where he will focus on the London and US markets including the placement of consortia and binders. Foot joins Howden Re from Aon, where he spent over two deca...
Posted: Jul 30, 2024
Reviewing buying activity from January through July 2024, Guy Carpenter has estimated that approximately $35 billion – $40 billion of additional property catastrophe limit has been purchased worldwide, driven by favourable conditions. Accord...
Posted: Jul 30, 2024
French reinsurer SCOR has fallen to a net loss of €308 million for the second quarter of 2024 as a result of the previously announced Life & Health (L&H) assumption review, which more than offset a solid performance in its Property & C...
Posted: Jul 30, 2024