Reinsurance News
The Global Federation of Insurance Associations (GFIA), which represents the interests of the global insurance industry, has appointed Stephen Frank as its new president and made changes to its executive committee during its general assembly in So...
Posted: Dec 19, 2024
MS&AD’s corporate venture fund, MS&AD Ventures, has increased by US $100 million, bringing the fund’s total amount under management to US $400 million. MS&AD Ventures, the first Corporate Venture Capital (CVC) of a Japanese insurance c...
Posted: Dec 19, 2024
US insurance and investment firm, Prudential Financial Inc., has closed a reinsurance transaction for a portion of its guaranteed universal life block with Wilton Re. Readers may recall, in August, Prudential Financial entered into an agreement wi...
Posted: Dec 19, 2024
Ryan Specialty has announced the appointment of Shawn Yingling as Chief Retail Distribution Officer for its specialty underwriting segment, Ryan Specialty Underwriting Managers (RSUM). Miles Wuller, President & CEO of RSUM, expressed enthusias...
Posted: Dec 19, 2024
Aon has expanded its Climate Risk Monitor solution, launched in March this year, to include enhanced flood risk capability through its most recent collaboration with flood expert, Fathom. This partnership looks to assist clients to better understa...
Posted: Dec 19, 2024
Deutsche Bank has released its 2025 outlook for European and UK P&C insurers, highlighting the increasing importance of efficiency in the face of evolving P&C market dynamics. The report notes that primary insurers have outperformed reinsu...
Posted: Dec 19, 2024
Crescent Specialty, an MGA and Wholesale Brokerage firm, has announced that it is now a Lloyd’s of London Coverholder. Headquartered in Houston, Texas, Crescent Specialty is an independent, employee-owned business initially dedicated to the...
Posted: Dec 19, 2024
The Trustees of the Airways Pension Scheme have completed a £340 million longevity swap transaction with Metropolitan Tower Life Insurance Company, a subsidiary of MetLife, and Zurich UK. This arrangement aims to help to mitigate the financial ris...
Posted: Dec 19, 2024
Chubb’s excess and surplus lines division, Westchester, has promoted Nick Gatt, formerly Chief Operating Officer (COO) for Westchester Programs, to Head of the division. In the new role, he reports to Dave Lupica, Division President of Westchester...
Posted: Dec 19, 2024
London-based Volt Underwriting, a Lloyd’s approved coverholder, has announced a significant increase in its underwriting capacity for 2025, as it has secured a new $37.5 million binding authority for onshore power and renewable energy risks in the...
Posted: Dec 19, 2024
Dubai Aerospace Enterprise (DAE) has revealed that it has received $201 million in cash settlements over the past three months from selected insurance companies for aircraft previously leased to airline carriers in the Russian Federation. For cont...
Posted: Dec 19, 2024
The European Insurance and Occupational Pensions Authority (EIOPA) has published the results of a stress test, in which it assessed European insurers’ ability to manage the economic and financial fallout from a resurgence of geopolitical ten...
Posted: Dec 19, 2024
Bermuda-based reinsurance company PartnerRe has announced updates within its Life leadership team, appointing Kevin O’Regan as CEO, Global Longevity, and expanding John Mok’s role to CEO, Life & Health APAC & EMELA, both effect...
Posted: Dec 19, 2024
Reinsurance broker Augment Risk has launched its newly created captive and alternative risk transfer solutions offering, and appointed Steve McElhiney to lead this new venture. Augment Risk’s new captive and alternative risk transfer solutio...
Posted: Dec 19, 2024
Looking ahead to 2025, Swiss Re’s Business Unit CEOs highlight that the re/insurance industry faces geopolitical instability, social tensions, and economic uncertainty—factors that could significantly impact the industry and potentially driv...
Posted: Dec 19, 2024
Cytora, the digital risk processing platform has entered into a partnership with Moody’s RMS, the global catastrophe risk modeling and solutions company, in a move that is set to help insurers weather climate and natural disaster risk. Accor...
Posted: Dec 19, 2024
Zurich-based catastrophe insurance data provider PERILS has updated its industry loss estimate for the floods in Central Europe and Italy from September 14–20, 2024, raising the total to €2.08 billion from the initial estimate of €1.886 billion re...
Posted: Dec 19, 2024
Elysian, a revolutionary AI-orchestrated Third Party Administrator (TPA) for the insurance industry, has announced its official launch with $3 million in pre-seed funding led by American Family Ventures. Co-founded by insurance industry veteran Gr...
Posted: Dec 19, 2024
The European Central Bank (ECB) and the European Insurance and Occupational Pensions Authority (EIOPA) have proposed an EU-level approach to reduce the economic impact of natural disasters, building on existing national and EU structures. The prop...
Posted: Dec 19, 2024
Accounting and advisory firm MHA, the UK and Ireland member of the Baker Tilly international network, has announced the appointment of Ahmer Khan as its new head of Insurance for the UK. In addition to this, Khan will also become the leader of the...
Posted: Dec 19, 2024
ICEYE, a provider of satellite-based disaster management solutions, has closed a $65 million extension of the company’s existing growth funding round of $93 million, announced in April 2024. This funding round extension – which included part...
Posted: Dec 19, 2024
The financial impact of natural catastrophes remains a key topic across the insurance and reinsurance sector, with the past five years exceeding the USD 100-billion mark in terms of losses, but admittedly, there is a big protection gap that the in...
Posted: Dec 18, 2024
The International Group of P&I Clubs (IG) has finalised its 2025/26 Group Excess of Loss Reinsurance contract (GXL) structure, demonstrating continued support from key reinsurance partners despite a challenging year marked by increased pool cl...
Posted: Dec 18, 2024
Global reinsurance and insurance firm Everest has appointed Craig Hanrahan to head its North American insurance field operations. In this role, Hanrahan will oversee the company’s four US retail regions: Northeast, South, Central, and West. Hanrah...
Posted: Dec 18, 2024
Global insurance brokerage WTW has announced the appointment of Tony Simm as Head of Facultative for Great Britain, a London-based role. Prior to his promotion, Simm was Head of London Market Retro at WTW, a role he held since 2022 when he joined...
Posted: Dec 18, 2024