Reinsurance News
Flood Re, the joint initiative between the UK insurance industry and the UK Government to promote the availability and affordability of flood insurance, has reported a “strong financial and operational performance” for the financial ye...
Posted: Jul 18, 2024
CAPE Analytics, a provider of AI-powered property insights, has announced a long-term collaboration with EagleView, a geospatial technology expert, to bolster access to current and historical, high-quality, high-resolution, aerial imagery. This in...
Posted: Jul 18, 2024
Hamilton Global Specialty, an underwriting platform of Hamilton Insurance Group, has announced the appointment of Todd LaBandt as Senior Vice President (SVP) of Environmental Insurance at Hamilton Americas, its US managing agency. In his new role,...
Posted: Jul 18, 2024
Global claims services provider McLarens has announced the appointment of Felipe Ramirez as Managing Director of the McLarens Latin America, and Leo Garzon as Senior Vice President, Group Operation, Latin America, a new global role. In his new rol...
Posted: Jul 18, 2024
Insurer results for the second quarter of 2024 are expected to be highlighted by an elevated level of catastrophes, ongoing concerns around casualty loss reserves, and negligible mark-to-market impacts on investment portfolios, JMP Securities has...
Posted: Jul 17, 2024
Enstar EU has promoted Nick Crossley to Chief Executive Officer (CEO), subject to regulatory and Board approvals. The executive will replace Paul Brockman, who has served as Interim CEO of Enstar EU since January 2024. However, it has been confirm...
Posted: Jul 17, 2024
Cayman Islands-based reinsurer Oxbridge Re’s Web3-focused subsidiary, SurancePlus Inc., has signed a partnership agreement with Zoniqx, a digital asset manager, designed to expand SurancePlus’ footprint as it aims to revolutionise the reinsu...
Posted: Jul 17, 2024
EPIC Insurance Brokers & Consultants has expanded its footprint in the Pacific Northwest region of the US with the acquisition of Oregon-based firm Century Insurance Group, LLC, a specialist in employee benefits and commercial and personal P&#...
Posted: Jul 17, 2024
CFC, an insurance provider specialising in emerging and cyber risks, has appointed Bryan Joseph and Oliver Corbett as Independent Non-Executive Directors to its Board. Louise O’Shea, Group Chief Executive Officer, CFC, commented, “Both Bryan...
Posted: Jul 17, 2024
Homeowners insurance costs in the US have been on the rise since COVID, largely due to increased losses from natural catastrophes and persistent inflation, according to the Insurance Information Institute (Triple-I). Despite more frequent and inte...
Posted: Jul 17, 2024
A recent poll from Reinsurance News suggests that AI-powered threats will drive the biggest losses across the cyber re/insurance market over the next two years. Hundreds of people from across the insurance and reinsurance industry responded to the...
Posted: Jul 17, 2024
The Texel Group, a specialist credit and political risk insurance broker, has announced a number of senior appointments, including William Shaw’s promotion to Deputy CEO. Based in London, Shaw was promoted to his new role from his Managing Directo...
Posted: Jul 17, 2024
S&P has awarded Vienna Insurance Group (VIG) an excellent “A+” rating with a stable outlook. This places VIG among the top-rated companies in the Austrian Traded Index. The Group’s reinsurance company, VIG Re, based in Prague, also...
Posted: Jul 17, 2024
DUAL Europe has announced the appointment of Michael Wyss as Managing Director of DUAL Swiss, bolstering the company’s leadership team as the business positions itself to grow its market share in Switzerland. DUAL Swiss’s primary lines of business...
Posted: Jul 17, 2024
International and Israeli investors have agreed to acquire up to 21.5% of Phoenix Group Holdings, an Israeli financial group, from investment firms Centerbridge Partners and Gallatin Point. The investment involves the sale of 4.95% of Phoenix shar...
Posted: Jul 17, 2024
Allianz Group, a global insurer and asset manager, through its wholly owned subsidiary Allianz Europe B.V., has offered Singapore-domiciled insurer Income Insurance a pre-conditional voluntary cash general offer to acquire at least 51% of its shar...
Posted: Jul 17, 2024
Global insurance broker WTW has announced a series of major hires for its international casualty team, based in the firm’s London office, part of the direct and facultative global line of business. Firstly, the company has appointed industry...
Posted: Jul 17, 2024
Assurant has revealed that it expects its Global Housing segment to record approximately $46 million pre-tax, or $36 million after-tax, of reportable catastrophes for Q2 of 2024. As per the firm, no single event is anticipated to exceed $15 millio...
Posted: Jul 17, 2024
WTW, an advisory, broking, and solutions firm, has appointed Aartie Manansingh as Head of the Private Equity and Transaction Solutions Industry Group within Corporate Risk and Broking, North America (CRB NA). Jorgen Andersson and Peter Galla will...
Posted: Jul 17, 2024
US primary insurer Progressive has reversed the previously announced reinsurance recoverable of $95 million under its per occurrence reinsurance contracts, as the firm “remains close” to reaching the annual retention thresholds under i...
Posted: Jul 17, 2024
Cytora, a digital risk processing platform, has partnered with Gamma Risk, a global provider of location intelligence systems and services, to help insurers map out commercial property risk assessment. Aiming to provide insurers with enhanced tool...
Posted: Jul 17, 2024
Global insurance and reinsurance industry losses from natural catastrophes in the first half of 2024 reached at least $61 billion, coming in 25% higher than the first half decadal average on the back of the second costliest H1 on record for the US...
Posted: Jul 17, 2024
Lemonade, the digital insurance organisation, has expanded its UK homeowners offering with the launch of buildings and contents insurance, in a continuation of the firm’s ongoing partnership with Aviva. According to the announcement, homeown...
Posted: Jul 17, 2024
Florida Peninsula Holdings and Windward Holdings, which own and manage Florida Peninsula Insurance, Edison Insurance, and Ovation Home Insurance Exchange, have appointed Gary Cantor, currently the Chief Financial Officer (CFO), as Vice Chairman of...
Posted: Jul 17, 2024
Allied Trust Insurance Company has announced the launch of its homeowners insurance program in North Carolina, US, to provide coverage focused insurance options for coastal residents. Having entered the North Carolina insurance market in 2022 afte...
Posted: Jul 17, 2024