Reinsurance News
RiverStone International has entered into an agreement with the French division of Zurich Insurance Europe and Zurich Insurance Company to deliver a loss portfolio transfer reinsurance (LPT) and facilitate an insurance business transfer involving...
Posted: Dec 23, 2024
The Government of Belize received $805,794 under one of The Caribbean Catastrophe Risk Insurance Facility (CCRIF) SPC’s Wet Season Trigger, a recently introduced policy endorsement. From November 16th to 18th, the coastal area of northern Belize r...
Posted: Dec 23, 2024
CCC Intelligent Solutions (CCC), a cloud platform provider powering the P&C insurance economy, has signed a definitive agreement to acquire EvolutionIQ, an AI-powered platform for disability and injury claims management. Under the agreement, E...
Posted: Dec 23, 2024
The insurance industry is poised for relative stabilisation in 2025 following years of disruption, Stonybrook Capital stated in its 2025 P&C Outlook. According to analysts, while some commercial lines may see moderate price decreases as capaci...
Posted: Dec 23, 2024
Nexus Underwriting, a specialty Managing General Agent (MGA), has entered into an agreement to acquire Arma Fusion Limited, the parent company of Arma Underwriting Limited (Arma), with the deal expected to close in the first quarter of 2025. Found...
Posted: Dec 23, 2024
Volante Global, an international Managing General Agent (MGA) and Lloyd’s Syndicate, has announced the appointment of Martin Reith as its new Executive Chairman. In his new role, Reith will focus on enhancing Volante Global’s underwriting strategy...
Posted: Dec 23, 2024
Aviva has agreed a deal to acquire Direct Line in a £3.7 billion cash-and-stock deal, a move that will create the UK’s largest home and motor insurer. Under the terms of the £3.7 billion new deal, for each Direct Line share held, shareholders will...
Posted: Dec 23, 2024
Arch Insurance, a division of Bermuda-based re/insurer Arch Capital Group, has appointed Ezechiel Symenouh as a Senior Cyber Underwriter, based in Paris, effective immediately. Symenouh joins Arch Insurance (EU) dac (AIEU), which provides speciali...
Posted: Dec 23, 2024
AXA XL, the property and casualty (P&C) and specialty risk division of global insurer AXA, has appointed Jon Tellekamp as Chief Underwriting Officer (CUO), Construction and Energy. In the new role, Tellekamp reports to Donna Nadeau, Head of La...
Posted: Dec 23, 2024
HIVE Underwriters Limited, a Managing General Agent (MGA) and Coverholder at Lloyd’s, specialising in Aviation Insurance, has announced the appointment of Henning Haagen as Chief Development Officer and Board member, effective 1 January 2025. In h...
Posted: Dec 23, 2024
According to Tokio Marine HCC – Cyber & Professional Lines Group (CPLG), the US cyber insurance sector is now in a soft market period, due to premium rate changes dropping below zero in 2024. The firm recently published its 2024 Cyber Market r...
Posted: Dec 23, 2024
FM, a commercial property insurer, has announced the appointment of Laurel Rudnick and Danielle Harrison to key leadership positions. Effective January 1, 2025, Rudnick will take on the role of Senior Vice President and Chief Underwriting Officer,...
Posted: Dec 23, 2024
The reinsurance industry should expect to see fairly stable conditions at the upcoming January 1st reinsurance renewals, with property catastrophe reinsurance pricing anticipated to be somewhere close to flat due to losses from recent hurricanes H...
Posted: Dec 20, 2024
Despite some near-term uncertainties surrounding tax regulations, Keefe, Bruyette & Woods analysts remain optimistic about the Bermuda reinsurance market and maintain their outperform ratings on several leading reinsurers. This conclusion was...
Posted: Dec 20, 2024
The US Federal Reserve Board has announced seven appointments to its Insurance Policy Advisory Committee (IPAC), consisting of three new faces alongside four returning members. The new appointments include Jonathan Kelly, Partner at Sidley Austin;...
Posted: Dec 20, 2024
Cyclone Chido, which struck several countries in Southeast Africa between December 13-16, is estimated to cause insured losses between €650 million and €800 million, according to French public reinsurer Caisse Centrale de Réassurance (CCR). The cy...
Posted: Dec 20, 2024
BMS Group, an independent specialist insurance and reinsurance broker, has completed the acquisition of UK-based insurance broker David Roberts & Partners (DR&P). Initially announced in July 2024, BMS Group has acquired DR&P from Europ...
Posted: Dec 20, 2024
The US commercial property insurance market is showing signs of improvement, with stable growth expected despite challenges such as climate change and inflation, according to the Insurance Information Institute (Triple-I). Triple-I highlighted tha...
Posted: Dec 20, 2024
Global insurtech bolttech has revealed a new $100 million Series C funding round, led by Dragon Fund, alongside Baillie Gifford and Generali. According to bolttech, the strategic support of these investors will empower the company to enhance its p...
Posted: Dec 20, 2024
CatX, the digital marketplace that connects re/insurers and brokers with alternative capital, has adopted catastrophe risk analytics from the Extreme Event Solutions group at Verisk, a global data analytics and technology provider. New insurance i...
Posted: Dec 20, 2024
Pension Insurance Corporation (PIC), the specialist insurer of defined benefit pension schemes, has concluded its first full scheme buy-in with Mosaic. Mosaic is PIC’s streamlined service for pension schemes with assets under £100 million. A...
Posted: Dec 20, 2024
Insurance and reinsurance broking group Gallagher has announced the appointment of Hassan Ashtari as Chief Client Officer for its Middle East and Africa specialty and facultative reinsurance operations. This newly created role reflects Gallagher’s...
Posted: Dec 20, 2024
MAPTYCS, a provider of advanced geospatial analytics solutions for the insurance sector, has announced the appointment of Daniel Grimwood-Bird as its Chief Revenue Officer. In this role, Grimwood-Bird will spearhead the company’s sales and marketi...
Posted: Dec 20, 2024
Zurich-based catastrophe insurance data provider PERILS has released its fourth and final insurance industry loss estimate for the Australia Christmas storms which impacted the the states of Victoria, New South Wales, and Queensland during the per...
Posted: Dec 20, 2024
DARAG Group, a legacy acquirer specialising in the European market, has officially completed the transfer of its North American and Bermuda operations to RiverStone Group, after obtaining the necessary regulatory approval. This transaction, origin...
Posted: Dec 20, 2024