Reinsurance News
Legal & General has completed a record $2.2 billion in Pension Risk Transfer (PRT) business in the US in 2024, marking its largest year in the market to date. Having entered the US PRT market nine years ago, Legal & General completed its f...
Posted: Nov 22, 2024
Ratings agency AM Best maintains a positive market segment outlook for the delegated underwriting authority enterprise (DUAE) segment, driven by sustained growth and niche expertise, despite potential challenges arising from capacity issues and ra...
Posted: Nov 22, 2024
Brazilian reinsurer Austral Re has achieved steady growth since launching its strategic plan for Guarantee Insurance in Latin America (LatAm) two years ago, with subscribed premiums reaching R$ 100 million by September and an expected R$ 110 milli...
Posted: Nov 22, 2024
Itasca MGA Limited, an aviation-focused managing general agent formed by Castlelake and Pine Walk Capital, a subsidiary of The Fidelis Partnership, announced its insurance support for Elevate Capital Partners in securing a financing solution for t...
Posted: Nov 22, 2024
Hanwha Life, a South Korean life insurance company, has agreed to acquire a 75% stake in the parent of Velocity Clearing, an US-based global financial services firm. The Velocity Clearing management team will retain the remaining minority stake in...
Posted: Nov 22, 2024
The overall ability of insurance to offset financial risks stemming from catastrophic events, including climate-related events, is relevant to the creditworthiness of issuers and debt instruments outside of the insurance sector, according to S&...
Posted: Nov 22, 2024
Oceanview Reinsurance Ltd., the Bermuda-domiciled reinsurance subsidiary of Oceanview Holdings Ltd., has promoted Stelian Dragan to the newly created role of President and Chief Executive Officer (CEO) of its Bermuda operations, effective immediat...
Posted: Nov 22, 2024
Fitch Ratings has stated that the recently proposed capital surcharges by the European Insurance and Occupational Pensions Authority (EIOPA) on fossil fuel-related assets will not impact the ratings of European insurers. These surcharges are unlik...
Posted: Nov 22, 2024
CFC, an insurance provider specialising in cyber risk, has announced the launch of a new office in Amsterdam as part of its ongoing expansion in Europe. This new office will focus on strengthening CFC’s transaction liability offering for brokers a...
Posted: Nov 22, 2024
Ascot, the Bermuda-based global specialty insurance group, has announced the appointment of Anthony Mandica as Group Head of Internal Audit. Mandica will remain based in Ascot’s Iselin, New Jersey office, reporting both to the Ascot Group Limited...
Posted: Nov 22, 2024
CCRIF SPC (Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company) has paid The Government of Panama $26.7 million within two weeks of a rainfall event that affected that country from October 31st to November 4th, 2024. Francis...
Posted: Nov 21, 2024
Global speciality insurance and reinsurance group, Chaucer has announced the appointment of Jonathan Ng as a new Class Underwriter in Political Risk, Singapore. The executive is joining Chaucer from AXA XL, where he specialised in political risk u...
Posted: Nov 21, 2024
Canada Life Reinsurance, a provider of reinsurance solutions for life and health, recorded solid earnings of $210 million for the third quarter of 2024, accounting for 20% of Canada Life Assurance Company’s total earnings for the period. For...
Posted: Nov 21, 2024
Allstate, the US primary insurer has reported estimated catastrophe losses of $286 million for the month of October, which includes $102 million, pre-tax from hurricane Milton, taking total catastrophe losses for October year-to-date to $4.84 bill...
Posted: Nov 21, 2024
Re/insurance broker Arthur J. Gallagher & Co. has acquired Santiago-domiciled retail insurance broker THB Chile. The terms of the transaction were not disclosed. The retail insurance broker provides property & casualty, life and health ben...
Posted: Nov 21, 2024
According to a new Cyber Roundup Report published by Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs) and mid-market businesses, companies with revenues surpassing $50 million (£40.5m) are 2.5 times more likely...
Posted: Nov 21, 2024
ACORD Solutions Group, a provider of digital solutions for the global insurance industry, has appointed industry veteran James Pring as the company’s Director of Business Development, where he will lead strategic direction for the organisationR...
Posted: Nov 21, 2024
Most risk leaders (80%) are concerned about their organisation’s capability to respond adequately to risks that might emerge in the next decade, as only two in ten (20%) believe in their companies’ resilience, a recent WTW survey has reveale...
Posted: Nov 21, 2024
Markel, the insurance division of Markel Group Inc., has announced the appointment of David Pressman as Senior Underwriter, Marine Cargo, effective immediately. In his new role, Pressman will contribute to the strategic growth of Markel’s Ma...
Posted: Nov 21, 2024
Heading into the January 1 renewals, unless there’s a major catastrophe, property and casualty (P&C) reinsurance prices are expected to decline, according to analysts at Morgan Stanley. The 2025 reinsurance market outlook is shaped by a...
Posted: Nov 21, 2024
RSA Luxembourg S.A. (RSAL) has announced that Lynn O’Leary, following a successful two-year stint as Chief Executive Officer (CEO) Luxembourg, will return to the US to oversee Intact’s Specialty Lines business as President, US, in the first quarte...
Posted: Nov 21, 2024
In the third quarter of 2024, premiums across all account sizes rose by 5.1% within the commercial property and casualty (P&C) insurance market, roughly the same as the 5.2% recorded in the previous quarter, according to The Council of Insuran...
Posted: Nov 21, 2024
Cyber threats, climate change, and business interruption (BI) are the top risk concerns among key marketplace segments in the insurance industry, according to a new survey by Munich Re America and Triple-I. The RiskScan 2024 survey highlights key...
Posted: Nov 21, 2024
Managing general agent (MGA) Optio Group has completed the acquisition of Netherlands and Brussels based MGA Den Hartigh Beheer & Exploitatie B.V., a specialist in B2B insurance solutions. Established in 1916, Den Hartigh offers a variety of p...
Posted: Nov 21, 2024
Global professional services firm Aon has appointed Magnus Roe as its Global Chief Data and Analytics officer, supporting the firm’s strategy to enhance commercial solutions through advanced analytical capabilities. Based in Singapore, Aon’s globa...
Posted: Nov 21, 2024