Reinsurance News
Research provider MSCI and global ratings agency, Moody’s Corporation, have entered a strategic partnership aimed at enhancing transparency in ESG and sustainability and improving decision-making capabilities by leveraging each other’s stren...
Posted: Jul 02, 2024
Marsh McLennan, a global re/insurance broker, has appointed Sarah Triggs to the newly created role of Marsh McLennan UK Healthcare Industry Leader. Based in London, Triggs is expected to join the business in Q3 2024 and will have a reporting line...
Posted: Jul 02, 2024
One80 Intermediaries (One80), an insurance broker based in Boston, announced the launch of GeneBridge, an innovative product designed to reduce the financial burden of high-cost gene therapy claims. Matthew Power, President, One80, commented: “Wit...
Posted: Jul 01, 2024
Analysis by insurance and reinsurance broking group Aon finds that global reinsurer capital increased by 4% during the first quarter of 2024 to a new high of $695 billion, with growth in both traditional and alternative capital. From the end of 20...
Posted: Jul 01, 2024
Miller, an independent specialist (re)insurance broker, has announced Kazuhiko Shinkai’s appointment as Head of Miller Non-Marine Japan Strategy, enhancing their Japanese operations through Lead Insurance Services Limited. Starting on July 1...
Posted: Jul 01, 2024
Hong Kong’s risk-based capital (RBC) regime for the insurance industry has officially come into operation as of July 1, 2024. This follows the enactment of the Insurance (Amendment) Ordinance 2023, along with related subsidiary legislation and new...
Posted: Jul 01, 2024
The Fidelis Partnership and Fidelis Insurance Group have confirmed that Syndicate 3123 (The Fidelis Partnership Syndicate) has formally begun underwriting business at Lloyd’s. The Fidelis Partnership Syndicate was first announced in March of this...
Posted: Jul 01, 2024
Ryan Specialty Holdings, Inc., an international specialty insurer, has announced that its Board of Directors has unanimously approved a leadership succession plan to be implemented on October 1st, 2024. Under this plan, Patrick G. Ryan, the Founde...
Posted: Jul 01, 2024
J.C. Flowers & Co. LLC recently announced the successful sale of Vericity to iA American Holdings, a subsidiary of iA Financial Corporation. In October 2023, Vericity entered into a definitive merger agreement with iA American Holdings for an...
Posted: Jul 01, 2024
As per Gallagher Re’s latest mid-year renewals report, market softening in Florida levelled off and firmed as capacity became less abundant closer to June 1, ultimately leaving risk-adjusted rates on most programs either flat or down by as m...
Posted: Jul 01, 2024
Pacific Catastrophe Risk Insurance Company (PCRIC) has announced the appointment of Richard Poulter as the company’s new Chief Risk Officer, effective July 1, 2024. In his new role, Poulter will be responsible for ensuring executive manageme...
Posted: Jul 01, 2024
Pacific Catastrophe Risk Insurance Company (PCRIC) has announced the appointment of Richard Poulter as the company’s new Chief Risk Officer, effective July 1, 2024. In his new role, Poulter will be responsible for ensuring executive manageme...
Posted: Jul 01, 2024
Cyber risk solution company Resilience has doubled the cyber insurance limits it can offer to clients in the US to $20 million per client. The agreement to expand Resilience’s limit capability was reportedly brokered by Lockton Re and utilis...
Posted: Jul 01, 2024
Argenta Holdings Ltd, a subsidiary of Hannover Re, has recently announced the immediate closure of the Sydney office of its Service Company, Argenta Underwriting Asia Pte Ltd, which operates on the Lloyd’s Australia platform. Following a review of...
Posted: Jul 01, 2024
The reinsurance market was fairly stable heading into the July 1st, 2024, renewals, and is now more balanced than it was a year ago, although reinsurers are holding the line on retentions, according to James Vickers, Chairman, Gallagher Re Interna...
Posted: Jul 01, 2024
Zurich-based catastrophe insurance data provider PERILS AG, has provided a third update on the insured loss estimate for the Australia Christmas storms which impacted the states of Victoria, New South Wales, and Queensland during the period of 23...
Posted: Jul 01, 2024
Howden, the insurance intermediary group, has released its fourth annual cyber report, “Risk, Resilience and Relevance,” noting market stabilisation last year due to improved cyber hygiene following a surge in ransomware claims in 2020...
Posted: Jul 01, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has appointed Kai Kuklinski as Regional Manager, Northern Europe and Country Manager for Germany (Branch Manager of XL Insurance Company SE’s German b...
Posted: Jul 01, 2024
Zurich Insurance Group and Aon have launched a clean energy insurance facility, providing comprehensive coverage globally for blue and green hydrogen projects with capital expenditures of up to USD 250 million. With Zurich as the lead insurer and...
Posted: Jul 01, 2024
Africa Specialty Risks (ASR), the pan-African and Middle East focused reinsurance group, is opening an office in Dubai, its first in the Middle East, to be located within the Dubai International Financial Centre (DIFC). ‘ASR Middle East’, will be...
Posted: Jul 01, 2024
The mid-year reinsurance renewals reflected a transitioning marketplace which responded to increased demand for protection, as numerous headwinds continued to shift risk appetites, according to Guy Carpenter, the reinsurance broking arm of Marsh M...
Posted: Jul 01, 2024
As per a new report from Gallagher Re, buyers of property catastrophe reinsurance have been able to negotiate better terms and conditions on their contracts in 2024 due to the “risk on” approach taken by reinsurers. The reinsurance bro...
Posted: Jul 01, 2024
Sophos, a provider of cybersecurity solutions, released findings from its recent survey, showing that 76% of companies enhanced their cyber defences to qualify for cyber insurance. The report found that 97% of companies with a cyber insurance poli...
Posted: Jul 01, 2024
InsurX, a digital exchange with algorithmic capacity, has announced the appointment of four new hires to its team to meet burgeoning demand from brokers and underwriters for algorithmic underwriting. Appointed Divisional Director, David Dickson br...
Posted: Jul 01, 2024
Specialist managing general underwriter, New Energy Risk (NER), a wholly owned division of Paragon Insurance Group, and insurer Westfield Syndicate are launching a new Lloyd’s lineslip focused on providing technology performance insurance and othe...
Posted: Jul 01, 2024