Reinsurance News
According to AM Best, the global credit ratings agency, the US nonstandard auto insurance segment has posted a slight profit for the first half of 2024, following two years of unprofitable but improving results. A new report released by the agency...
Posted: Dec 13, 2024
The re/insurance market has remained consistent towards Swiss Re’s 2025 financial targets, and the reinsurer expects the market to be constructive going forward, according to Urs Baertschi, P&C Reinsurance Chief Executive Officer, Swiss...
Posted: Dec 13, 2024
Farmers Insurance has announced it will resume offering coverage for multiple lines of insurance in California to new customers, in a phased reintroduction beginning December 14, 2024. Farmers Insurance’s expanded coverage will include condominium...
Posted: Dec 13, 2024
Bay Harbor Reinsurance Company, a provider of reinsurance solutions for the US Property and Casualty market, has established a new $50 million letter of credit facility with Barclays Bank PLC. The agreement includes provisions that could potential...
Posted: Dec 13, 2024
The property market remains in a delicate state, although a general softening trend is evident, Amwins’ analysts have stated in its latest State of the Market Report This year has seen a series of significant weather events, with Hurricanes Helene...
Posted: Dec 13, 2024
A report by Howden Employee Benefits, in partnership with YouGov, reveals that 77% of UK small and medium-sized enterprises (SMEs) plan to update their employee benefits packages to attract and retain top talent, address workforce challenges, and...
Posted: Dec 13, 2024
EPIC Insurance Brokers & Consultants, a provider of risk management, insurance brokerage, and employee benefits consulting, has appointed Robert Peretti as Executive Director to lead National Markets and Placement. In this role, Peretti will p...
Posted: Dec 13, 2024
Guy Carpenter, Marsh McLennan’s reinsurance broking arm, has launched a new research project to explore using parametric insurance solutions to insure communities across California and Florida for wildfire and hurricane risks. The research i...
Posted: Dec 13, 2024
The risk to vessels, undersea cables, and offshore oil installations is growing primarily due to the availability of advanced weapons and the willingness of certain states, notably Russia and Iran, to disregard international maritime laws, accordi...
Posted: Dec 13, 2024
2025 is expected to see a renewed push for statutory reforms in states heavily impacted by hurricanes in the commercial property insurance space in hurricane-prone states, which were severely impacted by the 2024 Atlantic Hurricane season, accordi...
Posted: Dec 13, 2024
Antoine Bavandi, Global Head of Public Sector, Parametric & Climate Resilience Solutions at Gallagher Re highlighted the growing recognition of disaster risk financing and insurance in disaster response during his summary of key takeaways from...
Posted: Dec 13, 2024
MAPFRE RE, the reinsurance arm of Madrid-headquartered insurer MAPFRE, has announced it is sponsoring the issuance of a catastrophe bond of USD $125 million, issued through Recoletos Re DAC, an special purpose vehicle (SPV) incorporated in Ireland...
Posted: Dec 13, 2024
Industry giant Munich Re has disclosed that due to consistently good operational performance in all business segments, the group is now aiming for an IFRS net profit of €6 billion in 2025. This morning, the reinsurance giant announced some targets...
Posted: Dec 13, 2024
Devonshire Underwriting, a managing general agent (MGA) specialising in underwriting transactional risk solutions, has announced the appointment of Kate Nolan as Associate – Tax, effective immediately. In her new role, Nolan will work alongside De...
Posted: Dec 13, 2024
Swiss Re has revealed its financial targets for 2025, including a Group net income of more than $4.4 billion, and a Property & Casualty Reinsurance combined ratio of less than 85%. According to the global reinsurer, all business units are aimi...
Posted: Dec 13, 2024
LIMRA, a global research and consulting organisation for the insurance and financial services industry, reports that the total US single-premium pension risk transfer (PRT) premium reached $14.2 billion in the third quarter. This represents a 36%...
Posted: Dec 13, 2024
Eurazeo has entered into exclusive discussions with an investor consortium led by La financière de Blacailloux (Fiblac), a family holding company, regarding the sale of its 70% stake in Albingia, a French insurance company specialising in risk man...
Posted: Dec 13, 2024
Orion180, a provider of insurance solutions, has recently announced the launch of its new Residential Private Flood Insurance product. Orion180’s Private Flood Insurance product provides customisable and extensive coverage options for homeowners a...
Posted: Dec 13, 2024
According to Paul Davenport, Finance & Risk Director at the Lloyd’s Market Association (LMA), the Lloyd’s Market has made notable progress towards its objectives of reducing the burden of compliance with financial reporting for participa...
Posted: Dec 13, 2024
Credit rating agency AM Best has upgraded Korean Reinsurance Company’s (KRE) Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” (Excellent) from “a” (Excellent) and affirmed its Financial Strength Rating (FSR) of A (Excellent). Additionally, A...
Posted: Dec 13, 2024
Cyber risk is set to intensify next year as attackers switch tactics in response to better corporate cyber defences, and as advances in artificial intelligence (AI) increase the volume and effectiveness of their strikes, says Moody’s Ratings...
Posted: Dec 12, 2024
Commercial and specialty lines insurer HDI Global has appointed Dr Carsten Schulte as the Global Head of Marine of its industrial insurer, HDI Global SE, effective January 1st, 2025. The company confirmed that Alexander Schlei will succeed Dr Schu...
Posted: Dec 12, 2024
Regal Reinsurance Brokers has officially launched in Ghana, opening an office at Achimota, Mile 7, in Accra, according to a report by The Multimedia Group. Specialising in all lines of insurance for clients in Ghana and abroad, Regal Re is regulat...
Posted: Dec 12, 2024
Swiss Re’s Frederico Knapp has been appointed Chief Financial Officer (CFO) of IRB-Brasil Resseguros S.A. (IRB Re). Knapp will reportedly join the firm on December 20, 2024, replacing Marcos Pessôa de Queiroz Falcão, who will remain as Chief...
Posted: Dec 12, 2024
New research from WTW has revealed a shift away from a transactional view of facultative reinsurance and a move towards using it as a tool to achieve strategic objectives and priorities, fill gaps in treaties and manage risk throughout the cycle....
Posted: Dec 12, 2024