Reinsurance News
Insuritas, an US embedded insurance provider for financial institutions, has partnered with Recoop Disaster Insurance to add Disaster Insurance into its platform. Through this strategic partnership, Recoop’s multi-peril disaster insurance pr...
Posted: Oct 29, 2024
Markel, the insurance division of Markel Group, has appointed Dena Furmanek as Senior Underwriter – Fine Art, North America, with immediate effect. Based in the Chicago area, Furmanek will report to Kyle McGrath, Head of US Fine Art. In her new ro...
Posted: Oct 29, 2024
The recent negative outlook revision for France does not impact the ratings of French insurers, except for CNP Assurances SA, which has also had its outlook revised to negative, according to Fitch Ratings. CNP’s revised outlook aligns with a...
Posted: Oct 29, 2024
Global broking group Aon estimates insurance industry losses from natural catastrophe events in the first nine months of 2024 of at least $102 billion, with the impacts of hurricane Milton and additional events expected in the rest of the year poi...
Posted: Oct 28, 2024
Porch Group, a homeowners insurance and vertical software platform, has been approved by the Texas Department of Insurance (TDI) to form and licence Porch Insurance Reciprocal Exchange (PIRE), a new homeowners insurance reciprocal exchange. PIRE&#...
Posted: Oct 28, 2024
Else Group, a company specialising in insurance solutions, and ViVet, its UK-based Managing General Agent (MGA) and Lloyd’s Coverholder, are pleased to announce the appointment of Alex Dalton as Managing Director of ViVet. Through this appointment...
Posted: Oct 28, 2024
So far, policyholders of the National Flood Insurance Program (NFIP) have filed more than 54,000 claims following Hurricane Helene, the U.S. Federal Emergency Management Agency (FEMA) has reported. Helene was the sixth named storm of the 2024 Atla...
Posted: Oct 28, 2024
Tysers, an independent Lloyd’s broker and member of the Australian AUB Group, has announced the appointments of Babita Rai as CEO for Singapore and William Furness-Smith as Head of Marine, APAC. As CEO of Tysers Singapore, Rai will focus on expand...
Posted: Oct 28, 2024
Scottish insurtech Broker Insights, whose platform helps brokers to better understand their business and connect with insurers, has announced its launch in the United States. Broker Insights’s platform, Vision, has been specifically tailored for t...
Posted: Oct 28, 2024
The parent of the Liberty Mutual Insurance group of entities, Liberty Mutual Holding Company, Inc., has revealed that it expects losses related to hurricane Helene of approximately $550 million (pre-tax) in its third quarter results, and losses of...
Posted: Oct 28, 2024
Ascot, the Bermuda-domiciled global specialty insurer, has announced the promotion of two senior leaders: Michael Grayston as Group Treasurer and Chief Investment Officer (CIO), and Sarah Thompson as Group Chief Accounting Officer. In his newly ex...
Posted: Oct 28, 2024
The Australian Reinsurance Pool Corporation (ARPC), a government-backed provider of reinsurance for terrorism-related risks, has released its 2023-24 Annual Report, posting an operating result of $710.1 million. During this time, ARPC received a t...
Posted: Oct 28, 2024
Global insurance and reinsurance broking group Aon has announced the retirement of Jeff Polisenof following a distinguished 30-year career in aerospace broking and risk management. As Poliseno steps down, Jared Ball will take on additional respons...
Posted: Oct 28, 2024
Gallagher has further expanded its services with the launch of alternative risk management solutions in the Abu Dhabi Global Market (ADGM) through its wholly-owned subsidiary, Artex. This expanded suite of solutions available to clients leverages...
Posted: Oct 28, 2024
Gallagher has further expanded its services with the launch of alternative risk management solutions in the Abu Dhabi Global Market (ADGM) through its wholly-owned subsidiary, Artex. This expanded suite of solutions available to clients leverages...
Posted: Oct 28, 2024
The Inter-American Development Bank (IDB) has announced a new $1 billion securitisation transaction, Scaling4Impact, which includes a $100 million mezzanine tranche, of which a portion was sold to international investor Newmarket Capital, and the...
Posted: Oct 28, 2024
Price Forbes Bermuda has announced the promotion of Carrie Kelley to the role of Chief Executive Officer (CEO). In her new role, Kelley will oversee all Price Forbes Bermuda operations and report directly to Chris Bonard, CEO of Ardonagh Specialty...
Posted: Oct 28, 2024
With Ralph Beutter, the member of HDI’s Executive Board responsible for Specialty Lines, retiring on 31 May 2025, Dr Renate Strasser is set to join the company effective 1 April 2025, taking over his responsibilities. According to HDI, Beutt...
Posted: Oct 28, 2024
Everest Reinsurance, the reinsurance division of Everest Group, Ltd., has promoted Shirine Dajjani to the role of International Reinsurance Operating Officer, based out of Zurich. In her new position, Dajjani will oversee the alignment of the firm...
Posted: Oct 28, 2024
Global advisory, broking, and solutions company WTW has reportedly secured an insurance licence to act as an insurance broker in the Kingdom of Saudi Arabia, naming Talal Omar Bahafi as the new Head of Insurance Broking, WTW Saudi Arabia. Previous...
Posted: Oct 28, 2024
Prudential has announced the Hong Kong launch of MedScreen+, a digital underwriting tool developed in collaboration with Reinsurance Group of America, Incorporated (RGA), a global life and health reinsurer. By utilising optical character recogniti...
Posted: Oct 28, 2024
Rare Earth Insurance Partners Shanghai (Rare Earth Shanghai), member of the +8 Partners ecosystem, has officially launched in mainland China as the first independent wholesale insurance broker in the territory. The company, which is led by indust...
Posted: Oct 28, 2024
TIH, a US insurance brokerage, announced that its President, Dave Obenauer, will step into the role as Chief Executive Officer, effective January 1, 2025, with current CEO John Howard transitioning to Vice Chair. Obenauer, who has been with TIH si...
Posted: Oct 28, 2024
Pen Underwriting, a subsidiary of Arthur J. Gallagher & Co., has revamped its cyber proposition for large corporate clients, which includes re-entering primary coverage for this market, doubling its excess of loss (XOL) limit, and expanding it...
Posted: Oct 28, 2024
Reinsurance costs, persistent inflation, regulations, and frequent weather-related claims are driving up property insurance prices, affecting commercial real estate returns, valuations, and transactions, according to a Urban Land Institute (ULI) a...
Posted: Oct 28, 2024