Reinsurance News
The insurance intermediary group Howden has announced the appointment of Paul Hipson to the newly created role of Head of London Broking for the Corporate & Commercial division within Howden UK & Ireland, effective June 2024. In his new po...
Posted: Jun 17, 2024
With torrential rains and deadly flooding impacting many Arabian Gulf countries between April 13-17, Gallagher Re estimates the market loss for United Arab Emirates (UAE) property to be in the range of $1.8 billion to $2.3 billion, while UAE Motor...
Posted: Jun 17, 2024
Swiss Re Institute is forecasting a 40% rise in insurers’ investment income on average, for insurers in the largest eight life markets in the five years to 2027, driven primarily by higher bond yields. In a recent blog authored by James Finu...
Posted: Jun 17, 2024
French reinsurer SCOR has announced the appointment of longstanding retrocession and third-party capital partnerships executive Benoît Liot as Head of Risk Partnerships. SCOR has highlighted the relevance of this appointment as “an important step...
Posted: Jun 17, 2024
Global reinsurer Munich Re has recently appointed Jack Faure as the Head of Parametric NatCat Solutions. In this role, Faure will manage the company’s global transactional team. He will lead project teams to drive and support product development w...
Posted: Jun 17, 2024
Finish insurer Sampo has revealed it intends to acquire all of the outstanding shares in P&C insurer Topdanmark not already owned for 33 billion Danish Krone (€4.42 billion). Sampo already owns around 48.5% of Topdanmark, with this new conside...
Posted: Jun 17, 2024
Experienced parametric risk transfer professional, Gareth Davies, is to join global insurance and reinsurance broker Howden as Head of Parametric Solutions, Reinsurance News has learned. Davies is joining Howden from Price Forbes Re, where he most...
Posted: Jun 17, 2024
DARAG Group, a (re)insurance specialist in discontinued business and capital and operational relief, has entered into a service agreement with UnipolSai Assicurazioni S.p.A. (Unipol), an Italian insurer within the Unipol Group. Unipol is a major p...
Posted: Jun 17, 2024
AXIS Capital Holdings Limited, a specialty insurance company, has released a new report titled “Navigating Risk in the Energy Transition”, based on independent research which examines how various risks, including climate change, econom...
Posted: Jun 17, 2024
Bangkok-based Asian Reinsurance Corporation (Asian Re) has announced the appointment of a new Chairperson, Sumalee Satitchaichareon, Deputy Director-General, Fiscal Policy Office, the Ministry of Finance of Thailand. Asian Re is an intergovernment...
Posted: Jun 17, 2024
At S&P Global Ratings’ 40th Annual North American Insurance Conference, industry experts discussed current trends and challenges, agreeing that while the insurance landscape has evolved over the past four decades, the industry has succes...
Posted: Jun 14, 2024
The recent severe convective storms and flooding that have affected multiple countries in Central Europe since June 6 are expected to result in economic and insured losses amounting to hundreds of millions of EUR, according to Aon’s weekly catastr...
Posted: Jun 14, 2024
Florida’s governor Ron DeSantis’ 2024-2025 Focus on Florida’s Future budget invests millions in the Florida Office of Insurance Regulation’s (OIR) to bolster residential home mitigation programs in the state. The OIR has primary respon...
Posted: Jun 14, 2024
Property and auto-focused insurance group, Progressive, has reported significant, net catastrophe losses of $722.1 million for the month of May, leading the firm to record a reinsurance recoverable of $95.1 million in its property segment under it...
Posted: Jun 14, 2024
Global reinsurer, MS Reinsurance, has announced the appointment of Miguel Marin as the new Head of Data, effective immediately. Based out of Zurich, Germany, Marin will report to Chief Information and Data Officer, Benedikt Schmid, who commented:...
Posted: Jun 14, 2024
Managing General Agents (MGAs), Managing General Underwriters (MGUs), and cover-holder groups have amassed approximately USD 23.9 billion in revenues worldwide in 2023, according to a recent report by industry analysis firm Insuramore. The bulk of...
Posted: Jun 14, 2024
Davies, a provider of professional services and technology for insurance and regulated markets, has announced two senior leadership appointments and the rebranding of Afirm, known for its premium audit, loss control inspection, and risk mitigation...
Posted: Jun 14, 2024
Estimated insured losses in Germany from the Central Europe Floods will likely fall within the range of €2 billion to €3 billion (US$2.1 billion to US$3.2 billion), Moody’s RMS Event Response has stated. Heavy and persistent rainfall fell across c...
Posted: Jun 14, 2024
SCOR’s CEO Thierry Léger and Lloyd’s CEO John Neal have been appointed chair and vice-chair of Insurance Europe’s Reinsurance Advisory Board (RAB) respectively. Thierry Léger takes over from Gen Re’s Charlie Shamieh, who has held the RAB cha...
Posted: Jun 14, 2024
International re/insurance group Aventum has appointed a new Head of Learning & Development, Jeff Uden. In his new role, Uden will work collaboratively with the wider HR team across all aspects of Aventum’s holistic talent strategy including a...
Posted: Jun 14, 2024
The UK cyber insurance market has become increasingly “buyer-friendly”, with an abundance of capacity and intense competition among insurers driving rate decreases, according to Marsh’s Q1 2024 cyber insurance report. At the same time, gener...
Posted: Jun 14, 2024
Cayman Islands-based annuity reinsurer Ascendant Re has revealed that its Q1 2024 net income was $18.06 million, up considerably compared to Q4 2023’s figure of $6.66 million. Meanwhile, Ascendant Re’s total assets increased by $18.05...
Posted: Jun 14, 2024
Trisura Group Ltd, a specialty insurance provider operating in surety, risk solutions, and corporate insurance, announces several senior management appointments across the organisation. Richard Grant, who has been with Trisura Canada since its inc...
Posted: Jun 14, 2024
Dynamic Reinsurance (Dynamic Re) recently announced a business synergy agreement with Tokio Marine HCC – Financial Lines to collaborate on joint opportunities within Financial Lines. Dynamic Re, an underwriting agency based in the United States, p...
Posted: Jun 14, 2024
AM Best has revised the outlooks of Florida Family Insurance Company and its subsidiary, Florida Family Home Insurance Company, from negative to stable, a move that reflects improvement in its operating performance due to more strict underwriting...
Posted: Jun 14, 2024