Reinsurance News
Ahead of the next COP meeting, the Lloyd’s Market Association (LMA) commissioned a report, Underwriting the Transition, where KPMG examined the challenges, risks, and rewards of the low-carbon transition for the insurance sector over the next two...
Posted: Oct 28, 2024
Fannie Mae, a government-sponsored enterprise (GSE), has announced that 26 re/insurers are supporting its seventh Credit Insurance Risk Transfer transaction of the year, CIRT 2024-L4, which effectively transferred $338.6 million in mortgage credit...
Posted: Oct 25, 2024
The reinsurance market is constructed to handle major events like hurricane’s Helene and Milton, according to Eric Andersen, President of global insurance and reinsurance brokerage, Aon. Hurricane Helene was the sixth named storm of the 2024...
Posted: Oct 25, 2024
In a time characterised by hybrid work arrangements, evolving workplace cultures, and heightened attention to misconduct, a significant portion of global executives, approximately 23%, identify employer risk as the most prominent threat they face...
Posted: Oct 25, 2024
Arthur J. Gallagher & Co. has acquired London-based investment consulting firm Redington. Serving clients primarily in the UK, Redington provides investment, research and technology services to pension funds, wealth managers and institutional...
Posted: Oct 25, 2024
According to a recent report by Conning, the escalating impact of natural catastrophes is threatening the homeowners insurance sector, indicating that the industry cannot sustain its current trajectory without significant changes. While natural di...
Posted: Oct 25, 2024
Property & casualty (P&C) insurer The Hartford has posted an 18% year-on-year increase in net income to $761 million for the third quarter of 2024, driven by double-digit earned premium growth in both its Commercial and Personal Lines segm...
Posted: Oct 25, 2024
With the reinsurance industry remaining adequately capitalised and poised to meet demands at the upcoming January 1 renewals, J. Patrick Gallagher, Jr., Chairman, President and CEO of A.J. Gallagher & Co., remains confident that Gallagher Re w...
Posted: Oct 25, 2024
Lloyd’s global re/insurer MS Amlin has appointed Jo Hine and Andrew Downes as Independent Non-Executive Directors. Hine takes over as Chair of the Risk and Solvency Committee, subject to regulatory approval. She has extensive experience in f...
Posted: Oct 25, 2024
Cincinnati Financial Corporation has announced its financial results for the third quarter of 2024, reporting a combined ratio for the Consolidated Property Casualty Insurance segment of 97.4%, an increase from 94.4% in the same period last year d...
Posted: Oct 25, 2024
Broadstone, an independent financial services consultancy, has outlined four essential steps for insurers preparing for the Prudential Regulation Authority (PRA)’s new guidelines on Solvent Exit Planning. On January 23, 2024, the PRA released a co...
Posted: Oct 25, 2024
Global insurance and reinsurance broking group Aon has reported a 26% year-on-year rise in total revenue to $3.7 billion for the third quarter of 2024, with solid organic revenue growth across the business, including 7% to $503 million in its Rein...
Posted: Oct 25, 2024
Donegal Insurance Group has partnered with ZestyAI, a climate and property risk analytics solutions provider, to utilise its new AI-powered solution to enhance property risk assessment by accurately determining roof age across the US. Through the...
Posted: Oct 25, 2024
Kinsale Capital Group, Inc. has reported a net income of $114.2 million for Q3 2024, which includes after-tax catastrophe losses of $10.8 million, compared to after-tax catastrophe losses of $0.9 million in Q3 2023, when the net income was $76.1 m...
Posted: Oct 25, 2024
Ivans, a division of Applied Systems, has released the results for the third quarter of 2024 from the Ivans Index, which show year-over-year premium renewal rate increases across all major commercial lines of business, except Workers’ Compensation...
Posted: Oct 25, 2024
insurance, asset and wealth management and private equity – are planning to increase office attendance in the next 12 months, according to a new KPMG UK research. Of those planning to increase attendance, more than a third (37%) expect emplo...
Posted: Oct 25, 2024
Florida-domiciled and expansive primary insurance company, Universal Insurance Holdings, has reported a Q3 2024 combined ratio of 116.9%, up by 6.2 points from the comparative quarter, reflecting an increase in both the net loss and net expense ra...
Posted: Oct 25, 2024
Amid growing demand for reinsurance capacity, clients have shown interest in buying lower down to go back to past retention levels, MAPFRE RE’s Mark Meyerhoff has observed, yet this is not something he sees happening, instead he anticipates...
Posted: Oct 25, 2024
Through a partnership with Cognizant, FCCI Insurance Group (FCCI) has launched a new Excess & Surplus (E&S) line of business, marking a significant milestone in its modernisation journey. This collaboration utilises Cognizant’s exper...
Posted: Oct 25, 2024
Global insurance broker A. J. Gallagher & Co. has reported net earnings of $314.1 million for Q3 of 2024, up 12% from the same period of last year, while total revenues increased 13% to $2.77 billion. Gallagher’s EBITDAC also improved to...
Posted: Oct 25, 2024
S&P Global Ratings, a provider of credit ratings, research, and analytics, forecasts that most Protection and Indemnity (P&I) clubs will achieve near-breakeven results for the financial year ending February 20, 2025. The 12 P&I clubs i...
Posted: Oct 25, 2024
The Lloyd’s insurance and reinsurance market, as well as the Lloyd’s Market Association (LMA) and LIIBA (London & International Insurance Brokers’ Association), two London-focused insurance and reinsurance organisations have shared...
Posted: Oct 25, 2024
Global ratings agency AM Best has downgraded the Issuer Credit Ratings of South Carolina Farm Bureau Group (SCFBG) due to ongoing volatility in its operating results, primarily driven by weather-related events and inflationary pressures, particula...
Posted: Oct 25, 2024
International specialty insurer and reinsurer Convex has partnered with EXL, a data analytics and digital operations and solutions company, to evolve their operational model through data and technology. Through this multiyear partnership, the prog...
Posted: Oct 25, 2024
The Fortegra Group, a global specialty insurer and a subsidiary of Tiptree Inc., has announced the appointment of Richard Mangion as Chief Financial Officer for its UK and European business. In his new position, Mangion will report to Ed Peña, For...
Posted: Oct 24, 2024