Reinsurance News
Integrated Specialty Coverages (ISC), the multi-line program administrator, has appointed Experian’s Dimitri Robert as Chief Technology Officer (CTO). In his new role, Robert is expected to head ISC’s engineering department, as well as...
Posted: Jun 21, 2024
Strong underwriting performance in the US directors and officers (D&O) liability insurance market is expected to put downward pressure on rates due to reduced demand in this segment, according to a recent report by credit rating agency AM Best...
Posted: Jun 21, 2024
Howden, a global insurance intermediary group, has announced the launch of the first Warranty & Indemnity insurance policy for the sale of carbon credits for the reafforestation project of degraded forest lands by Mere Plantations. UK-based Me...
Posted: Jun 21, 2024
Industry veteran Daniel P. Olohan has been promoted to Chief Operating Officer (COO) of MAPFRE USA, effective August 1, 2024. Olohan has been with the firm since 2006, and has served as General Counsel and Secretary since 2008. As well as taking o...
Posted: Jun 21, 2024
AXA Hong Kong and Macau has entered into an exclusive partnership with HK Express Airways to offer tailored protection to enable HK Express customers enjoy hassle-free journeys. Kenneth Lai, Chief General Insurance Officer at AXA Hong Kong and Mac...
Posted: Jun 21, 2024
Integrated Specialty Coverages (ISC), a programme administrator based in Carlsbad, California, specialising in creating comprehensive insurance solutions using advanced artificial intelligence (AI) and data analytics, has recently introduced its n...
Posted: Jun 21, 2024
S&P Global Ratings has raised REVO Insurance, S.p.A.’s, an Italian insurer specialised in parametric policies and specialty lines, rating from BBB+ to A- with a stable outlook. According to the rating agency, the upgraded rating reflects the i...
Posted: Jun 21, 2024
Palomar Holdings, a specialty property insurer, has announced two key appointments: Tim Carter as Chief People Officer and Rodolphe “Rudy” Herve as Chief Operating Officer. Mac Armstrong, Chairman and Chief Executive Officer of Palomar, expressed...
Posted: Jun 21, 2024
Achmea Reinsurance Company N.V has entered into a four-year reinsurance agreement with Windmill III Re DAC, a multi-arrangement special purpose vehicle incorporated in Ireland, providing per occurrence cover in respect of losses from European wind...
Posted: Jun 21, 2024
Rating agency AM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa-” (Superior) from “a+” (Excellent) of the members of Athene Group (Athene), an...
Posted: Jun 21, 2024
Sheila Cameron, CEO of the Lloyd’s Market Association (LMA) has noted that it welcomes the decision by Velonetic, supported by Lloyd’s Council, to postpone again the cutover date for Blueprint Two, which was “taken in light of the real...
Posted: Jun 21, 2024
Managing General Agent (MGA) Devonshire Underwriting has announced that it has hired Sam Jeater as its new Underwriting Manager. In the role, he will largely focus on enhancing Devonshire’s Warranties & Indemnities (W&I) product offering f...
Posted: Jun 21, 2024
CatIQ, a subsidiary of Zurich-based PERILS AG, has released its Canadian Insurance Industry Exposure Database (IED) for 2024, revealing that CAD 19 trillion worth of insured property assets are exposed to natural perils. This represents an 11.3% i...
Posted: Jun 21, 2024
Thomas Neil Morrison has been appointed to the Board of Aviva plc, the insurance and financial services company, as a Non-Executive Director. Based in Toronto, Ontario, Canada, Neil will become a member of the Aviva plc Nomination and Governance,...
Posted: Jun 21, 2024
AXIS Capital Holdings Limited (AXIS) has recently launched AXIS Cyber Incident Commander, a new service designed to assist policyholders facing cyber incidents by providing them with a single point of contact for immediate guidance from experience...
Posted: Jun 21, 2024
Global specialty insurer Mosaic Insurance has entered into a multi year partnership with WNS, a provider of global digital-led Business Process Management (BPM) solutions. This partnership aims to create a future-ready operations model for underwr...
Posted: Jun 21, 2024
A new London company market forum, operated by the International Underwriting Association (IUA), which represents London-based international and wholesale insurance and reinsurance companies, is centring its efforts on warranty and indemnity insur...
Posted: Jun 21, 2024
Guidewire, a provider of software solutions to the insurance industry, and ICEYE, of satellite-powered disaster management solutions provider, have launched ICEYE’s new Ready for Guidewire validated accelerator on the Guidewire Marketplace,...
Posted: Jun 20, 2024
Emerald Bay Risk Solutions, a collaborative underwriting carrier, has partnered with Lightspeed Specialty Insurance Solutions, a subsidiary of Volnay Insurance Holdings, to launch an insurance facility in California aimed at providing comprehensiv...
Posted: Jun 20, 2024
Olga Chestiperova has joined SCOR’s Alternative Solutions Reinsurance team as a Senior Underwriter, based in the company’s Paris office. The addition of Chestiperova further bolsters a team that has been expanding in recent months. Chestiper...
Posted: Jun 20, 2024
Kingstone Companies, Inc., a US property and casualty insurance holding company, has finalised its 2024/2025 catastrophe reinsurance placement, purchasing a total cat limit of $275 million with savings of $6 million. Jennifer Gravelle, Chief Finan...
Posted: Jun 20, 2024
The European cyber insurance market has become much more friendly, with increased capacity per layer, significant overall capacity growth, removal of coverage restrictions, and more enhancements and innovative coverages available, according to Mac...
Posted: Jun 20, 2024
Keystone Agency Partners (KAP), an insurance brokerage platform, has signed a definitive agreement to acquire Keystone Insurers Group (Keystone), a premier independent agency network, marking a significant milestone in its strategic growth plan. T...
Posted: Jun 20, 2024
Large US primary insurer Allstate has reported estimated catastrophe losses of $1.4 billion ($1.1bn after-tax) for the month of May, taking total catastrophe losses for May year-to-date to $2.62 billion. At $1.4 billion, May 2024 catastrophe losse...
Posted: Jun 20, 2024
K2 Group Holdings Limited (K2 International), the specialty re/insurance underwriting platform, and division of K2 Insurance Services, has announced the launch of K2 Rubicon Specialty. According to the announcement, K2 Rubicon Specialty will write...
Posted: Jun 20, 2024