Reinsurance News
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
Global re/insurance broker Aon has sold technology and intellectual property (IP) assets to Moat Metrics Inc., a Washington-based company that delivers AI driven business and research intelligence. Lee, founder and CEO of Moat Metrics, said: “We a...
Posted: Jun 20, 2024
Chubb, the property and casualty (P&C) insurer, has appointed American International Group’s (AIG) Robin Roos as Technology and Climate Tech Industry Practice Leader for the firm’s Northern Europe Region. In the role, he is expecte...
Posted: Jun 20, 2024
In a recent interview with Reinsurance News, Martin Kreuzer, Senior Risk Manager Cyber Risks at Munich Re, discussed how the firm stays ahead of the evolving cyber threat landscape and how companies can enhance their preparedness against these thr...
Posted: Jun 20, 2024
ZestyAI, a provider of AI-driven climate and property risk analytics solutions, has announced a strategic partnership with Duck Creek Technologies, a provider of core systems for property and casualty (P&C) insurance. This collaboration positi...
Posted: Jun 20, 2024
Roberto Tous is joining Arch Insurance (EU) dac (AIEU), part of Arch Insurance International, as Director of Strategy & Distribution for Europe, to help expand the company’s distribution strategy in the region. In this new role with AIEU...
Posted: Jun 20, 2024
Fusion Specialty, a provider of specialty insurance solutions, has announced the expansion of its global collaboration with HDI Global Specialty SE, a specialty insurer, which is now extending into the Americas. This partnership will offer increas...
Posted: Jun 20, 2024
Global professional services firm Aon has appointed Tracy-Lee Kus as Head of its London-based Global Broking Centre (GBC), effective from the 1st of September 2024. Kus holds more than 30 years of experience in the insurance industry, having previ...
Posted: Jun 20, 2024
With Andreas Berger taking over as Swiss Re CEO in July, analysts at JP Morgan have suggested his track record of delivery should be a catalyst for the firm to become a more reliable source of earnings and ultimately capital returns. Berger has ru...
Posted: Jun 20, 2024
Cytora, a digital risk processing platform, has entered into a partnership with ChAI, an AI-powered raw material market intelligence and commodity pricing forecaster, in a move that is anticipated to help insurers navigate market volatility. Accor...
Posted: Jun 20, 2024
Everest Insurance International, a division of Bermuda-based insurer and reinsurer Everest Group, Ltd., has hired Liberty Special Market’s (LSM) Sylvain Chegaray as Head of Marine, France. An experienced veteran across the sector, Chegaray s...
Posted: Jun 20, 2024
Servca, an independent, owner-managed Lloyd’s specialty broker, has announced the launch of a new office in Northern Ireland, strategically positioned to leverage the region’s pivotal role as a trading hub for both UK and European business....
Posted: Jun 20, 2024
Trium Cyber, the Lloyd’s of London cyber insurance specialist, has partnered with AttackIQ to provide its policyholders with AttackIQ Flex, aiming to enhance cybersecurity and reduce risk. AttackIQ Flex is an on-demand testing service that a...
Posted: Jun 20, 2024
In 2023, over $1.2bn were paid out resulting from lightning-caused US homeowners insurance claims to more than 70,000 policyholders according to the Insurance Information Institute (Triple-I). After compiling national insurance claims data, Triple...
Posted: Jun 20, 2024
Global credit ratings agency AM Best has upgraded the Issuer Credit Ratings (Long-Term ICR) of The Hartford Financial Services Group, Inc. (The Hartford) and its subsidiaries. To break it down, AM Best has revised the outlook to positive from stab...
Posted: Jun 20, 2024
Strong solvency levels will boost the UK pension scheme risk settlement market in the second half of 2024, according to global insurance and reinsurance broker Aon. According to analysts, the publication of insurers’ latest annual returns confirme...
Posted: Jun 19, 2024
S&P Global Ratings revised Convex Re’s outlook to positive from stable, anticipating continued broad expansion aligned with its business plans, maintaining a combined ratio of approximately 90% over the next two years, and remaining well capit...
Posted: Jun 19, 2024
African Risk Capacity Ltd. (ARC) has received a $27 million contribution from the Dutch government to help boost climate resilience in Africa, and further promote parametric insurance across the continent. According to the announcement, the fundin...
Posted: Jun 19, 2024
The Joint Excess Loss Committee of the Lloyd’s Market Association (LMA), an organisation that represents the interests of the Lloyd’s underwriting community, and the International Underwriting Association (IUA), which represents intern...
Posted: Jun 19, 2024
Appian has recently partnered with PwC UK to enhance its ability to deliver innovative services aimed at streamlining processes, improving customer experiences, and boosting operational efficiency for insurance companies on the Appian Platform. Pw...
Posted: Jun 19, 2024
Australian insurer QBE has announced the closure of its North America middle-market segment to “refocus its strategy in the region on those businesses which hold more meaningful market position, relevance and scale.” The segment repres...
Posted: Jun 19, 2024