Reinsurance News
Martello Re Limited, the Bermuda-based Class E life and annuity reinsurer, has successfully raised $1.3 billion across a second round of equity funding and the upsizing of its current credit facility, enabling the firm to provide support to additi...
Posted: Jul 23, 2024
DUAL, the specialist underwriting arm of Howden Group Holdings, has announced the appointment of Marilena Rodriguez Forero as CEO for its newly established region, DUAL Latin America, effective 1 August 2024. Rodriguez Forero brings over three dec...
Posted: Jul 23, 2024
Markel, a global specialty insurer, and MEA, an AI-driven platform for insurers, have announced a new strategic partnership, leveraging MEA’s GenAI solution to enhance its underwriting processes in International Wholesale operations. Martin Henle...
Posted: Jul 23, 2024
Brown & Brown, the insurance brokerage, has reported its results for the second quarter of 2024, which includes a net income of $257 million, representing a substantial increase from the previous year’s $190 million. At the same time, re...
Posted: Jul 23, 2024
IQUW, a property and specialty re/insurer, has announced the promotion of Robbie MacDonald from Head of Property, Direct and Facultative (D&F) to Head of Property. MacDonald started his former role in 2023, where he co-lead IQUW Property along...
Posted: Jul 23, 2024
Insurance holding company W. R. Berkley Corporation generated record net premiums written (NPW) of more than $3.1 billion in the second quarter of 2024, as net investment income increased by almost 52% to a new record. As NPW grew more than 11% ye...
Posted: Jul 23, 2024
Swiss Re Reinsurance Solutions has revealed that Fathom’s advanced Global, UK, and Japan flood maps are now available within the CatNet risk assessment platform. If you recall, the global reinsurance giant acquired Fathom, the Bristol, UK-ba...
Posted: Jul 23, 2024
Cytora, the digital risk processing platform, has bolstered its global advisory board with the addition of industry veteran Laurent Rousseau, Guy Carpenter CEO of EMEA and Global Capital Solutions (part of Marsh McLennan). A renowned figure across...
Posted: Jul 23, 2024
After taking a $1 billion slice in 2023, it’s notable that Berkshire Hathaway did not participate in Florida Citizens Property Insurance Corporation’s 2024 catastrophe reinsurance renewal, which was dominated by Bermuda-based and colla...
Posted: Jul 23, 2024
In its Q2 2024 results, RLI Corp has revealed that its underwriting income increased to $70 million on an 81.5 combined ratio, up from $41.2 million on an 87.2 combined ratio in Q2 of 2023. RLI’s Property segment reportedly made up $53.2 mil...
Posted: Jul 23, 2024
Beazley has noted that despite its position as a leading cyber insurer, the recent global IT outage event will not change its current undiscounted combined ratio guidance of low-80s for its full year 2024 results. For those unaware, the outage was...
Posted: Jul 23, 2024
SiriusPoint Ltd., a global specialty re/insurer, has appointed Inmaculada Gonzalez as Global Head of Ceded Reinsurance, effective August 19th, 2024. Gonzalez succeeds Habib Kattan, who will leave on December 31st, 2024, following a period of trans...
Posted: Jul 23, 2024
Floodbase, a climate adaption technology company, has launched a rapid flood response data product covering flood events in continental U.S. which will be available starting 1st August, 2024. The service will provide a near-real-time flood hazard...
Posted: Jul 23, 2024
The Baldwin Group, formerly known as BRP Group, has announced the appointment of three new executives to lead the MGA and non-MGA segments within the company’s Underwriting, Capacity, and Technology Solutions (UCTS) Operating Group as it con...
Posted: Jul 23, 2024
TMG Insurance Services, LLC (The Mutual Group), an integrated insurance operations platform serving the mutual industry, has announced the appointment of Coleman Johnson as Senior Vice President and Chief Underwriting Officer. In his new role, Joh...
Posted: Jul 23, 2024
The latest edition of the REDY Index by CRC Group reveals that Q2 2024 continues the positive trends in the E&S property market observed over the past two quarters. These developments suggest a turnaround from the challenging market conditions...
Posted: Jul 22, 2024
Applied Surety Underwriters (ASU), a subsidiary of Applied Underwriters’ United Risk Division, has completed its acquisition of the majority of Argo’s remaining surety business. If you recall, back in April of 2024, it was confirmed th...
Posted: Jul 22, 2024
The July 19 global IT outage is an opportunity for the re/insurance market “to react by improving granularity on codifying policy information important for understanding portfolio accumulation risks stemming from certain coverage grants,” Aon anal...
Posted: Jul 22, 2024
Gallagher has appointed Sompo International’s Joe Gilliland as Executive Director within its US crisis management team. As Executive Director of the practice, Gilliland will work closely with Gallagher’s existing US team led by Bill Harrison...
Posted: Jul 22, 2024
Experts at the reinsurance broking arm of Marsh McLennan (MMC), Guy Carpenter, have said that while business interruption losses will be in scope for re/insurers, the magnitude of last week’s global IT outage suggests that lines of insurance...
Posted: Jul 22, 2024
Despite a decade of strong profitability, Laure Forgeron, Chief Underwriting Officer for Casualty at Swiss Re, a global reinsurance company, highlights emerging risks such as rising medical costs and intense competition in states like California,...
Posted: Jul 22, 2024
Berkshire Hathaway Specialty Insurance Company (BHSI), the insurance arm of Warren Buffett’s global re/insurance company, has entered the surety market in Spain. Jesús Barbero is to lead the new product line. Constanza Gállegos, Country Mana...
Posted: Jul 22, 2024
Global insurer and asset manager Allianz’s proposed acquisition of Singapore’s Income Insurance Limited “should not materially change the competitive landscape in Singapore’s insurance market,” says Fitch Ratings. If you recall,...
Posted: Jul 22, 2024
Aspen Insurance has appointed Tony Bishop as Chief Data & Analytics Officer, where he will be responsible for the firm’s recently launched Data Labs and Architecture in addition to his current remit overseeing its Data and Analytics stra...
Posted: Jul 22, 2024
French mutual re/insurance company Groupama has issued a new Cat bond Aggregate to protect its climatic exposures in France, placed and structured by the Aon Securities team. The €150 million Quercus Re DAC Cat bond came into effect on July 19, it...
Posted: Jul 22, 2024