Reinsurance News
While most property reinsurance placements were completed either early or on time, renewals in the Middle East were challenging and late, says reinsurance broker Gallagher Re. According to Gallagher Re’s recent mid-year renewals report, this...
Posted: Jul 04, 2024
Joshua Motta, Founder and CEO of Coalition, advocates for the necessity of active cyber insurance due to the shortcomings of traditional approaches, highlighted by erratic rate fluctuations and the inadequate readiness of organisations facing esca...
Posted: Jul 04, 2024
Insurance Commissioner Ricardo Lara has released a comprehensive report revealing $7.7 billion in losses from extreme heat events in California, highlighting the urgent need for adaptive strategies to address this growing threat. Commissioner Lara...
Posted: Jul 04, 2024
Utmost Group plc has agreed to acquire Lombard International Assurance Holdings Sarl, subject to regulatory approvals. The acquisition, expected to be completed by the end of 2024, encompasses Lombard’s European business, as Lombard International...
Posted: Jul 04, 2024
The current “Goldilocks environment”, a macro environment of moderate growth, moderate inflation and moderate interest rates according to Berenberg, will allow insurers in the European Union (EU) to deliver on their strategic plan targets. Berenbe...
Posted: Jul 04, 2024
Specialist Risk Group (SRG), the insurance intermediary, has announced its acquisition of Tristar Special Risks, the political violence specialist. For those who are not aware, Tristar Special Risks has a deep degree of expertise in terrorism insu...
Posted: Jul 04, 2024
According to a report from Swiss Re, a global reinsurance company, climate change is expected to alter global wind patterns, posing significant challenges for wind energy producers and insurers alike. Shilpa Gahlot, Insurance Research Specialist,...
Posted: Jul 04, 2024
Lloyd’s focused investment vehicle Helios Underwriting has appointed John Chambers, former AEGIS executive, to its Board as an Independent Non-Executive Director. He brings considerable experience across all aspects of running a regulated insurer,...
Posted: Jul 04, 2024
Brokerslink, a network of independent brokers, has introduced a specialised Trade Credit Insurance (TCI) practice to meet the rising demand from its international affiliates. This new TCI practice will give Brokerslink’s Partners and Affiliates ac...
Posted: Jul 04, 2024
Schroders Capital, the private markets business of Schroders Group, has collaborated with global reinsurer Hannover Re on a pilot tokenisation project, designed to enhance the way insurance-linked securities (ILS) investments are invested and mana...
Posted: Jul 04, 2024
With the composite rate for US P&C insurance increasing slightly from 3.9% in Q1 to 4.36% in Q2, Richard Kerr, CEO of Novatae Risk Group, noted that “there was no significant movement in rates for any coverage or industry group” gi...
Posted: Jul 04, 2024
Howden Re, the reinsurance broking arm of Howden Group Holdings, has announced the appointment of Shireen Gammoh as Managing Director (MD) of the Legacy and Structured Reinsurance team. Gammoh will join Howden Re on July 17th and will be based in...
Posted: Jul 04, 2024
CNA Hardy, a provider of specialist insurance solutions for commercial businesses, has announced the appointment of Clive Magnus as Active Underwriter for the firm’s Lloyd’s Syndicate 382. Magnus will succeed Carl Day, who has resigned after servi...
Posted: Jul 04, 2024
Specialist insurer, Beazley, has appointed industry veteran Michèle Horner as Country Manager for France and Monaco, where she will be based in Paris, effective immediately. In the role, Horner will be expected to focus on developing Beazley’...
Posted: Jul 04, 2024
CCRIF SPC reportedly made a payout on July 1st of $6,376,184 to the Government of Guatemala following heavy rains from June 13th to 19th. According to CCRIF, this payout represents the Government of Guatemala’s full payout under its excess rainfal...
Posted: Jul 04, 2024
W. R. Berkley Corporation, a property and casualty re/insurer, has announced the appointment of Lucas Prahl as President of Berkley Human Services, a Berkley company. Prahl succeeds Roger Nulton, who has been named Chairman of the business after s...
Posted: Jul 04, 2024
Although it will be some time before the overall losses and impacts from Hurricane Beryl are understood, John McGlynn, a senior financial analyst at AM Best, expects losses to the reinsurance industry to be within risk appetite and contained in th...
Posted: Jul 04, 2024
Mid-year cyber renewals have signalled further improvements for buyers, with plenty of capacity and increased competition leading to positive outcomes for most insurers, according to insurance and reinsurance broker Aon. After a period of rapid pr...
Posted: Jul 04, 2024
CURE Auto Insurance and Way.com partner to protect customers’ cars from damage due to hurricanes and tropical storms as these can cause millions in damage. A white glove service, the initiative Catastrophe Loss Mitigation program, will notif...
Posted: Jul 04, 2024
Selective Insurance Group, Inc. has appointed Kate Sampson to its Board of Directors, effective July 1st, 2024, taking the number of members on the Board to 13, before expected retirements. Sampson is an industry veteran with over 25 years of expe...
Posted: Jul 04, 2024
Charles Taylor, a provider of international adjustment services and technology solutions for the global insurance market, has announced the acquisition of M3 Aviation Services, effective June 27, 2024. Renowned for its expertise in handling aviati...
Posted: Jul 04, 2024
Legal & General Assurance Society Limited has completed a £21 million buy-in with The Leprosy Mission Central Pension Scheme, insuring the benefits of 197 retirees and 88 deferred members. The Scheme has reportedly been a client of Legal &...
Posted: Jul 04, 2024
Kairos Risk Solutions, a Singapore-based boutique insurance solutions consultancy, has recently announced the appointment of David Chew as Director, Satellite Solutions. In his new role, Chew will collaborate closely with Andre Siregar, CTO, Casmo...
Posted: Jul 03, 2024
According to a recent poll from Reinsurance News, artificial intelligence (AI) is anticipated to have the least impact in customer service, whilst nearly half of industry respondents believe that AI will have the biggest impact in risk modelling &...
Posted: Jul 03, 2024
By conducting risk assessments insurers can help businesses in the Asian marine industry to understand their existing operations and ways in which they can reduce claims as they navigate a sector full of challenges, QBE analysts state. The marine...
Posted: Jul 03, 2024