Reinsurance News
HDFC ERGO General Insurance has recently announced that Anuj Tyagi will be the new Managing Director and Chief Executive Officer (CEO), effective July 1, 2024. Tyagi will be succeeding Ritesh Kumar, who served as the company’s Managing Director an...
Posted: Jun 26, 2024
Speaking earlier today in London during Marsh McLennan’s Rising Professionals’ Global Forum 2024 event, Bruce Carnegie-Brown, Chairman, Lloyd’s, distilling down on the scope of risk, said that “the greatest challenges of our time are c...
Posted: Jun 26, 2024
The California FAIR Plan Association, a consortium of all insurers licensed to provide property insurance in the state, will expand its clearinghouse to include commercial policies such as those for farms and condominiums, beginning July 1. This e...
Posted: Jun 26, 2024
Global insurance provider RSA Insurance has appointed Caroline D’Urso as Senior Underwriter in its Risk Managed Property team, part of its UK Specialty Lines business. The executive, who has over a decade of industry experience, will be based in L...
Posted: Jun 26, 2024
Speaking with analysts at KBW, Gallagher President, Thomas J. Gallagher, has anticipated low-teens reinsurance organic growth in Q2 of 2024, including sustained reinsurer discipline with property pricing slightly down but with rising aggregate dem...
Posted: Jun 26, 2024
With climate change intensifying the frequency and severity of natural catastrophes, insurers and reinsurers are under increasing pressure to adapt and enhance their risk management strategies, prompting Germany’s financial regulator BaFin t...
Posted: Jun 26, 2024
Insurers can no longer avoid the need to explicitly quantify geopolitical risk in their pricing, modelling and risk management processes, says Broadstone, the independent pensions, employee benefits, investment and insurance consultancy. Broadston...
Posted: Jun 26, 2024
Oceanview Holdings Ltd., a provider of annuities and reinsurance solutions, has established its new subsidiary, Oceanview Secure Reinsurance Ltd., in the Cayman Islands. The new subsidiary has been awarded a Class D Insurer’s license by the...
Posted: Jun 26, 2024
Consilium, the global speciality re/insurance broking business of the Aventum Group, has launched its new Lloyd’s-backed Cargo Stock Throughput offering, and has appointed Jack Cooper as Senior Partner. With a broad Cargo appetite, covering genera...
Posted: Jun 26, 2024
The Governing Board of the California Earthquake Authority (CEA), California’s largest provider of residential earthquake insurance, has appointed Tom Welsh, currently the Chief Legal & Compliance Officer, as its new Chief Executive Officer (C...
Posted: Jun 26, 2024
A study by Coalition, a cyber insurance provider, reveals that many IT security leaders in midsize UK businesses are wary of cyber insurance, with only one in five (19%) respondents reporting a positive experience with it. The survey, conducted ea...
Posted: Jun 26, 2024
United Insurance Brokers (UIB) Group has expanded its presence in Asia with the addition of four new professionals: Richard Oh, Saw Tong Nee, Rita Au and Tam Hui Von. This strategic move underscores the commitment of UIB Asia Reinsurance Brokers P...
Posted: Jun 26, 2024
There has been an improvement in Lloyd’s syndicate underwriting performance in 2023 throughout the majority of classes, with reinsurance “growing significantly”, according to a topical report from Howden Re. According to the firm, prop...
Posted: Jun 26, 2024
In hard reinsurance markets of the past, a key feature has been an influx of capital from new entrants, but there’s been a notable lack of start-ups during the current period of reinsurance market tightening, and there are some good reasons...
Posted: Jun 26, 2024
American Coastal Insurance Corporation, the insurance holding company of American Coastal Insurance Company (AmCoastal) has announced that AmCoastal has entered into a five-year extension of its exclusive Managing Agency Contract (MGA Agreement) w...
Posted: Jun 26, 2024
Velocity Risk Underwriters has partnered with Louisiana State University (LSU) to develop the “Velocity Risk LSU Gulf Hurricane Outlook” model, the first of its kind to use daily data to predict US hurricane seasonal activity. The mode...
Posted: Jun 26, 2024
Global insurer American International Group, Inc. (AIG) has entered into a definitive agreement with Zurich Insurance Group to sell the latter its global individual personal travel insurance and assistance business for $600 million in cash plus ad...
Posted: Jun 26, 2024
International insurer QBE has announced the appointment of Simon Højmark as Europe product manager for Cyber and Dr Patrick Seul as Europe product manager for Management Liability and Financial Institutions. Højmark has been with QBE for 13 years,...
Posted: Jun 26, 2024
The Board of Phoenix Group has revealed its intention to explore the potential sale of its SunLife Limited business. Following a strategic review, Phoenix has concluded that SunLife is “no longer core” to the delivery of its vision of...
Posted: Jun 26, 2024
Global re/insurer Markel Group Inc. and Valor Environmental have entered into a definitive agreement for Markel Group to acquire a majority interest in Valor and its related operating companies. The transaction is subject to customary closing cond...
Posted: Jun 26, 2024
Allianz Colombia has developed a new product, based on a parametric insurance policy, that would help protect the country’s farmers livelihood as well as access to credit to strengthen their financial resilience. The parametric insurance policy wo...
Posted: Jun 26, 2024
Oneglobal Broking, an independent Lloyd’s broker backed by JC Flowers, has appointed Andrew Ko as the Executive Director for Hong Kong, effective 18th June 2024. Ko is a key appointment according to Oneglobal as the company continues to expa...
Posted: Jun 26, 2024
India’s 53rd GST Council meeting has announced a decision that reinsurance commissions and co-insurance premiums will no longer be considered taxable services, providing significant relief to the insurance and reinsurance industry. Last year...
Posted: Jun 26, 2024
The Global Federation of Insurance Associations (GFIA) warns against a ‘disproportionate’ focus on climate risks in its response to a consultation by the International Association of Insurance Supervisors (IAIS) on the supervision of climate risks...
Posted: Jun 26, 2024
Global insurer Chubb remains the largest writer of cyber insurance in the US, with direct premiums written (DPW) in 2023 amounting to roughly $574 million, according to AM Best. Our table of the top 20 cyber insurers by premiums written in 2023, i...
Posted: Jun 25, 2024