Reinsurance News

BMS Group, an independent specialist re/insurance broker, has announced the appointment of Ryo Iizuka as a Director of the Private Equity, Mergers & Acquisitions, and Tax (PEMAT) in Japan, effective immediately. The resurgence in M&A activ...

Posted: Jul 09, 2024

The SME broking platform of The Ardonagh Group, Ardonagh Advisory, has acquired Rollinson Smith Insurance Brokers (RSIB), the community broker servicing the Shropshire, Staffordshire, West Midlands and North Wales regions with considerable reach i...

Posted: Jul 09, 2024

Independent specialist (re)insurance broker Miller has appointed Gary Newlyn as Head of Social Housing & Public Sector. According to Miller, Newlyn joins its dedicated team of infrastructure specialists and will sit within its new specialist h...

Posted: Jul 09, 2024

Global insurance and reinsurance broking group Acrisure has hired Aaron Miller from the Abu Dhabi Investment Authority (ADIA) as its new Chief Financial Officer (CFO), reporting to Co-Founder, Chairman and Chief Executive Officer (CEO) Greg Willia...

Posted: Jul 08, 2024

Global insurer American International Group (AIG) has announced the appointment of Adam Burk as Global Treasurer and Head of Corporate Development, alongside his current role as Head of Corporate Development. Burk will continue reporting to Sabra...

Posted: Jul 08, 2024

Anthony McKelvy, co-founder and Managing Partner of Cayman Islands-based Northern Re, anticipates the casualty market to remain disciplined through the end of 2025, adding that the multiple years of significant positive rate increases were necessa...

Posted: Jul 08, 2024

Independent specialist re/insurer Apollo has hired CNA Hardy’s Carl Day as deputy Chief Underwriting Officer (CUO). According to the announcement, Day is expected to join the firm in late 2024. In the role, he will be heavily involved in dev...

Posted: Jul 08, 2024

Reinsurance broker Guy Carpenter’s U.S. Property Catastrophe Rate-On-Line (ROL) Index is now up by just 1.2% in 2024, reflecting a deceleration of rate increases at the mid-year renewals following the highs of last year. While still up by 1....

Posted: Jul 08, 2024

Tokio Marine Kiln (TMK), part of global insurance group Tokio Marine, has appointed Yixiang Yang as the new Head of Accident and Health for the Asia-Pacific region, effective immediately. Yang is an expert in accident and health underwriting with...

Posted: Jul 08, 2024

The National Reinsurance Corporation of the Philippines (Nat Re) celebrated its 45th anniversary with record figures in 2023, posting a substantial 862% increase in net profits driven by the firms underwriting and investment incomes. At its annual...

Posted: Jul 08, 2024

Aurora, a digital commercial insurance business, has launched its flagship Commercial Combined solution, supported by AXA Insurance, for small or midsize enterprises (SMEs). The new product will encompass Property, Business Interruption, Employers...

Posted: Jul 08, 2024

Independent insurance broker Lockton has announced the appointment of Travis Leonard as Chief Financial Officer (CFO), succeeding Troy Cook who has occupied the role since 2020. He will take over his new role from July 8, 2024, and will work close...

Posted: Jul 08, 2024

Saudi Arabia-domiciled reinsurer, Saudi Reinsurance Co. has announced plans to increase its capital by SR267.3 million (approximately USD 71 million) through a strategic subscription with the Public Investment Fund (PIF), a sovereign wealth fund,...

Posted: Jul 08, 2024

Reinsurers were more proactive when exploring ways to deploy capacity at the mid-year 2024 renewals, which, together with greater depth of data and detailed dialog between buyers and sellers, made for a healthy marketplace, according to Lara Mower...

Posted: Jul 08, 2024

In 2023, the Pacific Catastrophe Risk Insurance Company (PCRIC) achieved significant milestones, including welcoming Fiji and Niue as new members of the Pacific Catastrophe Risk Insurance Foundation (PCRIF) through policy purchases. PCRIC’s...

Posted: Jul 08, 2024

BMS Group, an independent specialist insurance and reinsurance broker, has appointed Charlie Rozes as Group Chief Financial Officer (CFO) and Executive Director. Rozes will assume his new role in November, succeeding Nick Moss, Group Finance Direc...

Posted: Jul 08, 2024

After hammering Caribbean islands last week and battering Mexico’s Yucatán Peninsula, Hurricane Beryl strengthened again to a Category 1 storm and recently made landfall near Matagorda, Texas, although the impact to reinsurers is expected to be mi...

Posted: Jul 08, 2024

Acrisure Re, the re/insurance division of fintech company Acrisure, has announced that its facultative division has signed a preferred partnership broker agreement with Specialty Reinsurance Brokers (Specialty Re), for facultative Stock Throughput...

Posted: Jul 08, 2024

CoreLogic has estimated that total insurable losses from Hurricane Beryl across Jamaica and the Cayman Islands will be between $400 million and $700 million, while estimated insurable losses in Mexico’s Yucatan Peninsula are less than $1 billion....

Posted: Jul 08, 2024

Although risk-adjusted returns in the reinsurance sector are reaching a three-decade high, this hard market is different than previous ones, and a new class of reinsurers has yet to materialise with investor interest in supporting non-life startup...

Posted: Jul 08, 2024

AXA XL has announced two new underwriting and distribution leadership roles in Canada, James Lee as Head of Client & Distribution and Alex Barker as Chief Underwriting Officer Large Commercial. Lee, who has also been appointed Chief Agent for...

Posted: Jul 08, 2024

The US property and casualty (P&C) market is well on its way to returning to underwriting profitability along with a significant return on capital improvement for the full year, driven by lower winter storm losses and a recovery in personal au...

Posted: Jul 08, 2024

African countries saw a wave of credit rating downgrades last year with only four upgrades to their sovereign bonds, going against the global trend of net upgrades – 20 downgrades and 48 upgrades in 2023 – according to specialty re/ins...

Posted: Jul 08, 2024

Fannie Mae, a government-sponsored enterprise and provider of mortgage financing in the United States, has completed a new Credit Insurance Risk Transfer transaction, known as CIRT 2024-L3. This initiative transferred $337.2 million in mortgage cr...

Posted: Jul 08, 2024

Financial leaders brace for change to address multiple threats as they face significant gaps in organisational preparedness for successful business transformation, a recent Mayer Brown study has found. “The Next Organization: Seven Dimension...

Posted: Jul 08, 2024