Reinsurance News
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
The recent severe convective storms that hit Western, Central, and Southeastern Europe between June 27 and July 2 are expected to result in economic and insured losses reaching hundreds of millions of EUR, according to Aon’s weekly catastrophe rep...
Posted: Jul 05, 2024
Japan’s major insurance companies’ capital has further stabilised and it is strengthening, mainly due to better financial conditions, such as higher interest rates, and insurer efforts to reduce market risk, yet S&P Global’s rating...
Posted: Jul 05, 2024
MSIG USA has announced the addition of Dan Riordan, Richard Abizaid, and Javier Gomez to its political risk and credit team. The three will lead the political risk and credit product portfolio in the U.S. market. This move underscore MSIG USA̵...
Posted: Jul 05, 2024
Brendan Lane Larson has recently joined the leadership team of Resilience Opportunity Advisors & Resources (ROAR) Partners to provide expertise in Climatology. Brendan Lane Larson is a climatologist, physical meteorologist, practitioner, and e...
Posted: Jul 05, 2024
Davies, a provider of specialised professional services and technology solutions for insurance and highly regulated markets, has announced a successful £1.5 billion refinancing of its senior debt facilities. This move significantly lowers its inte...
Posted: Jul 05, 2024
PIB Group, a specialist insurance intermediary, has expanded its presence in Central and Eastern Europe with the acquisition of Nord Group, a provider of risk management, insurance and reinsurance solutions in Poland. PIB signed a conditional agre...
Posted: Jul 05, 2024
Analysts at Bloomberg Intelligence have cited inflation, high costs, and premium rates needing to rise as three key themes for the European property and casualty (P&C) sector in 2024. Claims inflation has characterized 2023 trading, and analys...
Posted: Jul 05, 2024
Patrick Raaflaub, Group Chief Risk Officer at Swiss Re, emphasises the importance of promptly identifying minor risks and initiating early discussions on effective management strategies to prevent them from becoming unmanageable in the future. Raa...
Posted: Jul 05, 2024
Analysts at RBC Capital Markets believe reinsurance rates still have a favourable outlook after the mid-year renewals, despite being below peak levels seen last year. The main message from broking groups following the mid-year reinsurance renewals...
Posted: Jul 05, 2024
AutoRek, an insurtech company, has announced a collaboration with J.P. Morgan Payments, a division of J.P. Morgan, a global financial institution, to assist insurance firms in navigating data complexities and exploring new market opportunities. Au...
Posted: Jul 05, 2024
Global insurers AXA and Generali have announced their support for the Insurance Development Forum (IDF)’s Infrastructure Resilience Development Blueprint, an initiative aimed at mobilising and facilitating insurance sector investments in infrastru...
Posted: Jul 05, 2024
Global reinsurer MAPFRE RE to open its new branch in Beijing as it has been granted approval from the National Financial Regulatory Administration of the People’s Republic of China. The Beijing Branch is an important milestone for MAPFRE RE’s stra...
Posted: Jul 05, 2024
The Government of the Republic of Zimbabwe has received an insurance payout of US$16. 8 million following its participation in the African Risk Capacity (ARC) Group disaster financing mechanism. For those who are not aware, the mechanism is design...
Posted: Jul 05, 2024
So far in 2024, the insurance-linked securities (ILS) market has seen significant growth, with the volume of alternative capital in the global reinsurance industry increasing to a record high of $110 billion through the second quarter, as reported...
Posted: Jul 05, 2024
According to Todd Kozikowski, Co-founder, CEO, 4WARN, nearly all insurers and lines of insurance are now being targeted by tech-enabled claim instigation, a phenomenon once considered confined to Florida. In March 2022, Demotech’s research, undert...
Posted: Jul 05, 2024
With Labour winning the UK election, a report from Deutsche Bank has observed that the new government will have minimal real impacts on earnings & capital for the country’s re/insurers. “Our view about Labour’s manifesto poli...
Posted: Jul 05, 2024
Australian insurer Suncorp has successfully placed its 2025 fiscal year catastrophe reinsurance program, maintaining its maximum event retention of $350 million for a first large event and lifting the top of its tower to $6.75 billion. For 2024, S...
Posted: Jul 05, 2024
SEADRIF Insurance Company has appointed Su Hoong Chang as Board Director, effective June 20, 2024. Based in Singapore, Chang has over three decades of experience across the sector, bringing a deep degree of expertise and insights from her previous...
Posted: Jul 05, 2024
Insurance industry supports EU taxonomy law but believes changes are needed to fulfil its green potential, at the same time, it has raised concerns regarding the current reporting demands for underwriting and investment. Insurance Europe and the E...
Posted: Jul 05, 2024
Managing general agent (MGA) Specialty MGA UK has expanded its international property, financial lines and cyber teams with the appointment of Luke Bristow, Tony Loizides and Lisa Rowe as Senior Underwriters. Manoj Kumar, Chairman, MNK Group, comm...
Posted: Jul 05, 2024
Charlotte Hedemark, President of The Federation of European Risk Management Associations (FERMA), outlined plans to advance its strategic priorities: expanding its advocacy capacity, establishing leadership and emphasising value, and becoming a mo...
Posted: Jul 05, 2024
DWF, a provider of combined legal and business services, has enhanced its global Claims Management & Adjusting (CMA) division by appointing Darren Goldman as Head of North America and Antonio Herrera Sancho as Claims Director in Spain. Goldman...
Posted: Jul 05, 2024