Reinsurance News
Global consulting and actuarial firm Milliman has reported that the estimated retiree pension risk transfer (PRT) cost for September reached 101.7% of a plan’s accounting liabilities (accumulated benefit obligation, or ABO). In its latest Milliman...
Posted: Oct 22, 2024
According to AM Best, US residual property insurance markets have seen a far greater influx of personal lines business that far exceeds its commercial lines counterpart, with much of the new business written in states worst affected by the growing...
Posted: Oct 22, 2024
Artemis, our insurance-linked securities (ILS) focused sister publication, has partnered with Artex Capital Solutions, the specialist unit of Artex Risk Solutions that creates and manages ILS and related structures, to host a live webinar on the u...
Posted: Oct 22, 2024
Global insurance and reinsurance broker Aon has promoted Adam Neverton as Global Head of strategic broking for professions, effective immediately. In his new role, Neverton will be based in London, with a dual reporting line to John Brosnan, Head...
Posted: Oct 22, 2024
Munich Re has reported a preliminary Q3 2024 net result of around €900 million, despite the impact of higher-than-average major-loss expenditure from natural catastrophes in property-casualty reinsurance. Hurricane Helene was the reinsurer’s...
Posted: Oct 22, 2024
Specialty lines insurance group Bowhead Specialty does not expect material direct losses from the recent hurricanes in the third quarter of 2024, as the firm does not write any property risks, the company recently said in its preliminary third qua...
Posted: Oct 22, 2024
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Nikunj Mahida as Head of Third Party Claims, UK & MENA with immediate effect. In his new role, Mahida will lead the London claim team for LSM’s Financial an...
Posted: Oct 22, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has introduced a new cyber insurance policy that extends coverage to help businesses manage risks associated with developing their own Generative AI (...
Posted: Oct 22, 2024
W.R. Berkley Corporation has reported a record Q3 net profit of $365.6 million amid continued strong underwriting margins and increased investment income. The firm’s Q3 2024 return on equity and operating return on equity were 19.6% and 20.0...
Posted: Oct 22, 2024
Specialty insurer RLI Corp. has reported an improved underwriting income of $40.7 million for Q3 2024 with a combined ratio of 89.6%, compared to $4.2 million and a 98.7% combined ratio in Q3 2023. The year-on-year improvement in underwriting come...
Posted: Oct 22, 2024
Global reinsurance broker Gallagher Re has appointed Lara Mowery as Chief Commercial Officer, where she will reportedly oversee the firm’s strategic direction and enhance the delivery of product and practice group capabilities. Mowery is an...
Posted: Oct 22, 2024
Movo Partnership, part of the AUB group and an Appointed Representative (AR) network for brokers, has launched ‘Movo Accelerator,’ a platform designed to help aspiring entrepreneurs start their own broking businesses. Movo Accelerator...
Posted: Oct 22, 2024
Kroll, an independent provider of global risk and financial advisory services, announced that Katherine Keefe will join as Managing Director and Global Cyber Insurance Industry Lead, overseeing the firm’s worldwide cyber insurance capabiliti...
Posted: Oct 22, 2024
Kroll, an independent provider of global risk and financial advisory services, announced that Katherine Keefe will join as Managing Director and Global Cyber Insurance Industry Lead, overseeing the firm’s worldwide cyber insurance capabiliti...
Posted: Oct 22, 2024
Moody’s Ratings has downgraded Saga Plc’s corporate family rating (CFR) and backed senior unsecured debt ratings to B3 from B2 and the probability of default rating to B3-PD from B2-PD. The rating agency has also changed the company’s outloo...
Posted: Oct 22, 2024
A new report by Conning, a provider of investment management and insurance research, titled “Climate Risk: An Imminent Threat to Business,” highlights the growing importance of assessing and managing both physical and transitional clim...
Posted: Oct 22, 2024
Allianz Trade in Asia Pacific has named Harry Edwards as ASEAN Commercial Director effective October 21st, 2024, based in Singapore. He replaces Céline Peredy, who is now Strategic Account Director for Allianz Trade for Multinationals. In his new...
Posted: Oct 22, 2024
INSHUR, a global embedded insurance provider, has raised $19 million in its latest funding round to continue to strengthen market position across the US and Europe, bringing total funding to $78.5 million since 2019. The round was led by Viola Gro...
Posted: Oct 22, 2024
FERMA, the Federation of European Risk Management Associations, represents the interests of risk managers across Europe, and in her opening speech at the FERMA Forum in Madrid, President Charlotte Hedemark urged them to adapt, improve, and innovat...
Posted: Oct 21, 2024
AXA Climate has announced the renewal of parametric insurance coverage for 88 Marine Protected Areas (MPAs) in the Philippines. In partnership with Blue Alliance Marine Protected Areas and Howden, this initiative bolsters the financial stability o...
Posted: Oct 21, 2024
Tokio Marine Kiln (TMK), an international insurer, has appointed Thomas McShane as Head of Technology and Media E&O, a newly created position. McShane will officially join the company in January and will report to Laila Khudairi, Head of Cyber...
Posted: Oct 21, 2024
With a series of late storms causing natural catastrophe losses to rise, pressure on reinsurers to cut pricing and offer more generous terms has eased, according to a new report from Bloomberg Intelligence (BI). As per Charles Graham, BI Senior In...
Posted: Oct 21, 2024
Chinese insurer Ping An has reported its results for the first nine months of 2024, showing a solid 4.5% year-on-year growth in property & casualty (P&C) insurance revenue, reaching RMB246,022 million. At the same time, its P&C operati...
Posted: Oct 21, 2024
China is further opening its massive insurance market by approving the establishment of separate insurance units for BNP Paribas and Prudential Financial. The National Financial Regulatory Administration (NFRA) greenlit a BNP Paribas joint venture...
Posted: Oct 21, 2024
The European reinsurance market remains dynamic, with demand for property reinsurance protection continuing to expand, according to Munich Re. At this year’s Baden-Baden event, the global reinsurer revealed plans to deploy more capital in it...
Posted: Oct 21, 2024