Reinsurance News
The Supervisory Board of R+V Versicherung AG, the parent company of the German R+V Group, has named Holger Nieswandt as a member of the Management Board. Effective April 2025, Nieswandt will oversee R+V Re. Currently serving as Head of Research &#...
Posted: Nov 15, 2024
Progressive, the property and auto-focused insurance group, reported $206.5 million in incurred vehicle losses, including boats and recreational vehicles, on a companywide basis related to Hurricane Milton and unfavourable development from Hurrica...
Posted: Nov 15, 2024
Global insurer Generali’s natural catastrophe losses came in roughly 100 basis points above budget for the first nine months of 2024, and as the firm’s portfolio continues to expand a higher nat cat budget is expected for 2025, althoug...
Posted: Nov 15, 2024
Aegis Executive Risks (AER), a division of Aegis General Insurance Agency and K2 Insurance Services, is pleased to announce the launch of its new Management Liability insurance program. This comprehensive offering is designed to protect executives...
Posted: Nov 15, 2024
The recent mountain fire which broke out on November 6 in Ventura County of Southern California is expected to drive notable insured losses, according to global insurance and reinsurance broking group Aon. The start of the wildfire in southern Cal...
Posted: Nov 15, 2024
EPIC Insurance Brokers & Consultants, a national insurance brokerage firm, is strengthening its leadership team with two significant executive promotions to better serve its specialised clients and employees. Philip V. Moyles has been appointe...
Posted: Nov 15, 2024
Argyle Insurance and Mitsui Sumitomo Insurance have entered into a multi-year capacity agreement, marking the start of a strategic partnership aimed at enhancing business insurance options for Australian SMEs. Beginning January 1, 2025, this partn...
Posted: Nov 15, 2024
The U.S. International Development Finance Corporation (DFC) will provide $50 million, in coordination with Aon, in political risk insurance (PRI) for a new reinsurance facility to ARX, an Ukrainian subsidiary of Fairfax Financial Holdings Limited...
Posted: Nov 15, 2024
A coalition of eleven associations, spearheaded by Insurance Europe, is urging the European Commission to establish EU-wide regulations for private Third-Party Litigation Funding (TPLF). TPLF involves private investors, unconnected to the lawsuit,...
Posted: Nov 15, 2024
Insurance industry intermediary, Specialist Risk Group (SRG), has announced the acquisition of Essex-based One Claim Limited. The UK company provides broker partners and their clients with claims management support from initial notification throug...
Posted: Nov 15, 2024
Rachel Reeves, Chancellor of the Exchequer, has revealed that the government is consulting on introducing a new framework for UK-based captive insurance companies to make the UK insurance market a more attractive hub for firms seeking efficient ri...
Posted: Nov 15, 2024
Skyward Specialty, a property and casualty (P&C) insurer, has announced the addition of Life Sciences liability coverage to its Healthcare Solutions underwriting unit, which now will offer tailored protection for life sciences needs. The life...
Posted: Nov 15, 2024
The Texas Windstorm Insurance Association (TWIA) has projected that it might need almost $5.8 billion in reinsurance limit for 2025 as 20% exposure growth lifts its projected 1-in-100 year probable maximum loss (PML) to $7.8 billion, while total l...
Posted: Nov 15, 2024
Aspen Insurance has reported a Q3 2024 net income available to ordinary shareholders of $42.9 million, with an underwriting income of $33 million and a total combined ratio of 95.2%. The underwriting income figure of $33 million in Q3 2024 compare...
Posted: Nov 15, 2024
Just Group, a specialist UK financial services company, has completed a £1.8 billion full buy-in with the Trustee of the G4S Pension Scheme, covering the benefits of around 22,500 members. This has become Just’s largest insurance de-risking transa...
Posted: Nov 15, 2024
Italian insurer Generali has reported a 5% year-on-year increase in its net result to €3 billion for the first nine months of 2024, as gross written premiums (GWP) across the group rose 18% to €70.7 billion amid strong growth in both P&C and l...
Posted: Nov 15, 2024
Applied Systems has released the third quarter 2024 results of the Applied Commercial Index, the Canadian insurance industry’s premium rate index, showing that average premium rates decreased year-over-year across the most commonly placed commerci...
Posted: Nov 15, 2024
AM Best, the global credit ratings agency, is maintaining a stable outlook on the New Zealand non-life insurance segment, citing the sector’s robust premium growth supported by rate adjustments, notably within the property, motor and commerc...
Posted: Nov 15, 2024
FM, a commercial property insurer, has appointed Randy Hodge as Chief Operating Officer (COO), effective December 1, 2024. Hodge will succeed Bret Ahnell, who is set to retire in March 2025. Ahnell joined the company in 1997 and has held various s...
Posted: Nov 15, 2024
In their financial results for the third quarter of 2024, Conifer Holdings has posted a $61 million gain from the sale of its insurance agency operations to Bishop Street Underwriters, which was completed in August of this year. At the same time,...
Posted: Nov 15, 2024
Insurity, a provider of cloud-based software and analytics for insurance carriers, brokers, and MGAs, has partnered with ICEYE, a provider of satellite-based disaster management solutions, to offer real-time catastrophe insights to property and ca...
Posted: Nov 15, 2024
Despite the growing threat of flooding from intense storms, many homeowners in inland areas remain unprotected as they do not have flood insurance coverage, reflecting a widespread misunderstanding about the coverage, Triple-I highlighted in a rec...
Posted: Nov 14, 2024
Stan Bernard has been promoted to Head of Industry Practices for the U.S. Middle Market at Zurich North America, taking over the role from Lynn Zeitler, who will be retiring in December after 31 years with Zurich. In his new role, Bernard will col...
Posted: Nov 14, 2024
Tokio Marine Group and The Resilient Cities Network (R-Cities) have entered into a partnership which will see Tokio Marine Group provide industry expertise and support to the Resilience Finance Taskforce, made up of cities and private sector partn...
Posted: Nov 14, 2024
John Dacey, Chief Financial Officer (CFO) of reinsurance giant Swiss Re, has said that short-term, rates need to increase for almost all lines of business exposed to social inflation, as the industry continues to navigate the complex US liability...
Posted: Nov 14, 2024