Reinsurance News

The insurance sector has reportedly called on the EU to use the “golden opportunity” offered by the review of Solvency II to unlock additional capital. Insurance Europe, in a recent statement, said that by increasing insurers’ investme...

Posted: Jul 26, 2024

ZestyAI, a provider of AI-driven climate and property risk analytics solutions, has received approval for use in rating and underwriting from the Texas Department of Insurance for its complete suite of Severe Convective Storm products. These inclu...

Posted: Jul 26, 2024

Bermuda-based reinsurer RenaissanceRe (RenRe) is “delighted” with the state of the market, and with demand for coverage on the rise in an increasingly stable market, it’s a good time to be a reinsurance company, according to the...

Posted: Jul 25, 2024

Liberty Mutual Insurance has announced the appointment of Julie Haase as Executive Vice President and Chief Financial Officer, effective Jan 1, 2025. She will be taking over the role from Chris Peirce, the company’s current EVP and CFO, as he is t...

Posted: Jul 25, 2024

First Street, a provider of physical climate risk data, has finalised an oversubscribed Series A-1 funding round, bringing a total amount of $46 million raised. According to the announcement, this round was led by Innovation Endeavors, with other...

Posted: Jul 25, 2024

Vantage Group Holdings Ltd. (Vantage), an insurance and reinsurance company, has strengthened its Insurance Leadership Team with two key appointments. Kelly Bellitti has been appointed Chief Pricing and Portfolio Actuary, while David Valzania has...

Posted: Jul 25, 2024

CFC, an insurance provider specialising in emerging risks and cyber coverage, has published an analysis on the costs SMEs incur when implementing cybersecurity services. The company’s cyber team examined the expenses of various third-party c...

Posted: Jul 25, 2024

Applied Systems has released second quarter of 2024 results of the Applied Rating Index, which shows that average premiums for both Personal Auto lines and Personal Property lines increased year over year, while quarter over quarter, premium rate...

Posted: Jul 25, 2024

BMS Group, an independent specialist re/insurance broker, has announced the promotion of Hannah Watkins to the newly created role of UK chief growth officer, effective immediately. Based in London, Watkins will lead the development and execution o...

Posted: Jul 25, 2024

The growth potential of the UK bulk annuity market has been highlighted by a wave of new entrants, according to Fitch Ratings. Steep interest rate rises in 2022-2023 boosted pension scheme funding levels, making it more affordable for corporates t...

Posted: Jul 25, 2024

Global advisory, broking and solutions firm WTW has revealed that net income for Q2 of 2024 was $142 million, an increase of 48% compared to Q2 of 2023. WTW’s revenue in Q2 of 2024 was $2.27 billion, an increase of 5% compared to the same pe...

Posted: Jul 25, 2024

Marsh, the insurance broking division of Marsh McLennan, has appointed Stephen McKay as UK Advisory Leader, where he will be based in London, reporting to Chris Lay, CEO, Marsh McLennan UK and Giampaolo Scarso, Advisory Leader, International, Mars...

Posted: Jul 25, 2024

Insurance-linked securities (ILS) focused independent asset managers, Twelve Capital and Securis Investment Partners, have announced their intention to merge, creating one of the world’s largest ILS managers with assets under management of $...

Posted: Jul 25, 2024

Goosehead, an independent personal lines insurance agency, has announced its financial results for the second quarter of 2024, reporting an increased net income of $10.9mn, compared to the $7.2mn reported in the same period last year. Mark Miller,...

Posted: Jul 25, 2024

Veteran Richard Harries has been appointed to insurance and reinsurance broker Arthur J. Gallagher & Co.’s Board as a new Director. Harries has more than 35 years of insurance industry experience in the UK and other highly regulated mark...

Posted: Jul 25, 2024

AM Best has placed the credit ratings of SCOR and its main subsidiaries under review with developing implications following the French reinsurer’s publication of an update on its Q2 2024 and full-year 2024 results. In the update, SCOR announ...

Posted: Jul 25, 2024

Preliminary insured losses from the CrowdStrike IT outage for the standalone cyber insurance market are anticipated to fall between $400 million and $1.5 billion, according to CyberCube, a specialist modelling firm for cyber risks and exposures. F...

Posted: Jul 25, 2024

Swiss Re Corporate Solutions, the commercial insurance arm of reinsurance giant Swiss Re, has appointed Kevin Bates as Country Head of Australia & New Zealand, effective November 4th, 2024. Bates succeeds Christine Bell, who has decided to ret...

Posted: Jul 25, 2024

Bermuda-based reinsurer RenaissanceRe Holdings Ltd. (RenRe) has reported underwriting income of $479.3 million and a combined ratio of 81.1% in its second quarter 2024 results, as both fee income and investment income also contributed to another s...

Posted: Jul 25, 2024

Arch Insurance North America, part of Arch Capital Group Ltd., has obtained regulatory approval for its previously announced acquisition of Allianz’s US MidCorp and Entertainment insurance businesses, including select specialty insurance programme...

Posted: Jul 25, 2024

Davies, the specialist in professional services and technology, has promoted Dhara Patel to the newly created role of President and Deputy CEO of its North American business. Patel’s promotion comes as Davies has announced a new go-to-market...

Posted: Jul 25, 2024

GuideOne Insurance Company, a provider of property and casualty insurance and risk management solutions, has promoted Troy Spoonemore to the position of Chief Underwriting & Risk Officer. In his new role, Spoonemore will direct GuideOne’s unde...

Posted: Jul 25, 2024

Despite profit warning and a drop in capitalisation, S&P Global Ratings has affirmed its ‘A+’ long-term insurer financial strength and issuer credit ratings on SCOR SE and related core subsidiaries. The outlook remains stable. The...

Posted: Jul 24, 2024

Global insurance and reinsurance broking group Acrisure has appointed John Tuttle, currently Vice Chairman of the New York Stock Exchange (NYSE), as its new President, effective September 1st, 2024. Tuttle will relocate to Grand Rapids and report...

Posted: Jul 24, 2024

Insurance carriers that have greater exposure to large enterprises are more likely to face the brunt of the losses stemming from the CrowdStrike linked IT outage, says Parametrix Insurance CEO, Jonathan Hatzor. According to the organisation, the e...

Posted: Jul 24, 2024