Reinsurance News

Berkshire Hathaway Specialty Insurance (BHSI) has recently expanded into the Nordic countries with a new office opening in Stockholm, Sweden. The Nordic office will offer services in Executive & Professional Lines, General Property, Energy, an...

Posted: Jul 03, 2024

Industrial generative AI company, Zapata Computing Holdings Inc., and KPMG UK, an audit, tax, and advisory services firm, have completed a successful client project to streamline the compliance models of an international insurance firm. By leverag...

Posted: Jul 03, 2024

Liberty Specialty Markets (LSM), a division of the Liberty Mutual group, has hired a new Head of Client & Broker Distribution, Continental Europe, Karine Paul, who will take over her role with immediate effect. In her new role, Paul has a wide...

Posted: Jul 02, 2024

AM Best reports that the US Property/Casualty (P/C) insurance industry faced another year of underwriting losses surpassing $20 billion in 2023, at $21.7 billion, largely driven by unprofitable private passenger auto and homeowners/farm owners mar...

Posted: Jul 02, 2024

Fleming Insurance Holdings, a P&C insurance capital solutions provider, has appointed Michael Garceau as Chief Financial Officer (CFO) and Chief Operating Officer (COO), a pivotal addition to its executive leadership team as the company expand...

Posted: Jul 02, 2024

SiriusPoint, a global specialty re/insurer, and Tara Hill Insurance Services, a newly launched Excess and Surplus (E&S) program administrator, have formed a strategic partnership. As part of the Cirrata Group, Tara Hill was established to deve...

Posted: Jul 02, 2024

Innovisk Capital Partners (Innovisk), a private equity-backed MGA platform, has recently appointed Praveen Reddy as its new Global President and Chief Operating Officer (COO). Founded in 2017, Innovisk is dedicated to investing in and growing entr...

Posted: Jul 02, 2024

Reinsurance broker Howden Re and Keenan have completed a strategic Loss Portfolio Transfer (LPT) between one of the largest California workers’ compensation joint powers authorities (the JPA) and a top-ten global reinsurer. Howden Re was responsib...

Posted: Jul 02, 2024

Alternative asset manager Blue Owl Capital Inc. has completed its previously announced acquisition of Kuvare Insurance Services LP (dba Kuvare Asset Management) (KAM), marking the official launch of Blue Owl Insurance Solutions. The $750 million a...

Posted: Jul 02, 2024

A record $8.4 billion of catastrophe bond and related insurance-linked securities (ILS) issuance occurred in the second quarter of 2024, taking first half issuance to a new high of $12.6 billion, and the outstanding market to a record $48 billion,...

Posted: Jul 02, 2024

Specialist insurer Beazley has appointed Lucien Mounier as Head of Europe, Cyber Risks. Reporting to Alessandro Lezzi, Head of International Cyber Risks, Mounier will be responsible for the establishment and oversight of Beazley’s cyber portfolio...

Posted: Jul 02, 2024

Monument Re has announced that its Belgian subsidiary, Monument Assurance Belgium, has successfully acquired a branch 21 closed book classical group life insurance portfolio from Contassur. Koen Depaemelaere, CEO of Monument Assurance Belgium and...

Posted: Jul 02, 2024

CRESTA, a provider of insurance industry loss data on non-US catastrophe events which have driven losses of above $1 billion, has released the Q2 2024 update of its CRESTA Industry Loss Index (CLIX), revealing that aggregate losses in the first ha...

Posted: Jul 02, 2024

Westfield, a US-based property and casualty company, has announced a new program designed to help prevent home electrical fires. The new solution, Ting, uses advanced smart plug-in sensors to monitor the electrical network of a home to help detect...

Posted: Jul 02, 2024

Coverys Limited, part of the company’s dedicated London platforms which include both insurance company and MGA operations, (collectively Coverys London), has launched as a company market underwriting platform following approval from the Prud...

Posted: Jul 02, 2024

Specialist reinsurance broker, CG Re (Africa) Ltd has announced the opening of its London office, part of the company’s expansion strategy to become an international and global reinsurance broker. The new office, which will open from 10 July 2024,...

Posted: Jul 02, 2024

Global insurance and reinsurance broker Aon has announced the appointment of Lisa Stevens to the newly established role of Chief Administrative Officer. In her new role, Stevens will continue to oversee the firm’s People Organisation, with expande...

Posted: Jul 02, 2024

Insurtech wefox Holding AG, at its General Meeting, saw investors reaffirm their support for the company by providing an immediate fresh capital injection of €25 million. This capital will support the ongoing restructuring efforts for which the co...

Posted: Jul 02, 2024

Reinsurance Group of America, Incorporated (RGA) has reached an agreement with Tongyang Life Insurance Company for an RGA subsidiary to reinsure a 200 billion Korean Won (KRW) (USD 144m) in-force block of life policies through coinsurance, marking...

Posted: Jul 02, 2024

Insurtech firm Lemonade has successfully renewed its reinsurance program, led by the same tier-one carriers as the expiring treaty, the 2024 placement was oversubscribed on all dimensions as the company secured improved terms. At the program’s cor...

Posted: Jul 02, 2024

Labuan International Business and Financial Centre (Labuan IBFC), an Asian financial hub known for its insurance, reinsurance, Islamic finance, and digital business solutions, achieved significant growth in 2023, with continued expansion expected...

Posted: Jul 02, 2024

Cytora, a digital risk processing platform, brings fast, reliable, and secure address capture capabilities with the integration of Autoaddress’ Address Capture into its underwriting productivity tool. Autoaddress delivers accurate address an...

Posted: Jul 02, 2024

Insurer Allianz Trade and credit and political risk insurance broker, BPL, have launched a collaboration to transform the way underwriters and brokers share enquiry data using Application Programming Interface (API) integration through the indepen...

Posted: Jul 02, 2024

Howden, a global insurance intermediary group, has appointed four new hires to its aviation division, including former Gallagher Partner Matthew Giddings, and hull war expert Mike Hart. As part of the Howden Aviation team, Hart is going to leverag...

Posted: Jul 02, 2024

Fitch Ratings, a financial analysis and credit rating agency, reports that the political uncertainty in France, stemming from President Emmanuel Macron’s call for an early parliamentary election, has not impacted the ratings of French insure...

Posted: Jul 02, 2024