Reinsurance News
CRC Group, a wholesale specialty insurance distributor in North America, has announced that it has acquired SLB Insurance Group, a binding authority operation with offices located in Florida and Louisiana. Established in 2000, SLB particularly spe...
Posted: Dec 16, 2024
Lime Syndicate Management Limited (Lime), the wholly owned subsidiary of Somers Group Holdings Ltd., a global specialty property and casualty (P&C) reinsurance group, has received all regulatory approvals to operate as a Lloyd’s Managing...
Posted: Dec 16, 2024
International re/insurance broker Consilium has reported a 54% growth in Gross Written Premium (GWP) for the year ending June 2024, reaching nearly £700 million. The company is now aiming for £800 million by the end of this calendar year and an am...
Posted: Dec 16, 2024
Placing Platform Limited (PPL) has completed a restructure of its leadership team, as part of the ongoing transformation of the London market’s digital placement platform. According to the announcement, the new structure follows Board and go...
Posted: Dec 16, 2024
ConnectUW Holdings (ConnectUW), the parent company of Connect Underwriting Limited and other specialist reinsurance MGAs, has announced it will take ownership of Lloyd’s box number 356 starting December 23, 2024. Located in the company market sect...
Posted: Dec 16, 2024
International insurance group Ageas has announced the successful conclusion of exclusive negotiations with Saga plc, a UK specialist provider of products and services to people aged over 50, for Ageas UK to acquire Saga’s insurance underwrit...
Posted: Dec 16, 2024
Specialty insurer Beazley has appointed Alessandro Lezzi as Group Head of Cyber Risks, reporting to Paul Bantick, Group Chief Underwriting Officer, Beazley. Lezzi has reportedly worked in the re/insurance industry for over twenty years, both as an...
Posted: Dec 16, 2024
Moody’s has upgraded the insurance financial strength (IFS) ratings of Arch Capital’s P&C re/insurance operating subsidiaries to A1 from A2 and the senior unsecured debt rating of the Group to A3 from Baa1. The rating outlook for t...
Posted: Dec 16, 2024
Canadian financial holding company Fairfax Financial Holdings Limited has increased its ownership interest in specialist insurer Brit Limited to 100% from 86.2%. This was done by acquiring the interest of OMERS, the pension plan for Ontario’s muni...
Posted: Dec 16, 2024
AllianceBernstein L.P. (AB), the global investment firm, has appointed Bob Sharma as Head of Insurance, EMEA & APAC, Client Group, where he will be based in the company’s London office. An experienced veteran across the sector, Sharma jo...
Posted: Dec 16, 2024
The Insurance Information Institute (Triple-I) has elected Matt McHatten, current president and chief executive officer at MMG Insurance, as chair of its Executive Leadership Committee (ELC). McHatten is succeeding Jennifer Kyung, CEO and founder...
Posted: Dec 16, 2024
Itasca MGA Limited, an aviation-focused managing general agent (MGA), has structured an aircraft non-payment (ANPI) credit insurance policy for JLPS Ireland Limited. This solution provides wrapped debt financing with respect to Operating Leases ar...
Posted: Dec 16, 2024
Global insurance firm American International Group, Inc (AIG) has led the launch of a new reinsurance syndicate at the specialist Lloyd’s marketplace, which will be a multi-year participant on the firm’s outwards reinsurance program. S...
Posted: Dec 13, 2024
Howden Re, the reinsurance arm of Howden, has announced the appointments of Paul Nicholson and Dominic Riley to its Aviation and Space team within the Global Specialty Reinsurance division. These appointments are set to enhance Howden Re’s Global...
Posted: Dec 13, 2024
Member companies of the Association of Bermuda Insurers and Reinsurers (ABIR) contributed a staggering $1,016,904,197 to Bermuda’s economy in 2023, making it the highest amount recorded in ABIR’s 31-year history. In fact, 2023 marked the first yea...
Posted: Dec 13, 2024
According to AM Best, the global credit ratings agency, the US nonstandard auto insurance segment has posted a slight profit for the first half of 2024, following two years of unprofitable but improving results. A new report released by the agency...
Posted: Dec 13, 2024
The re/insurance market has remained consistent towards Swiss Re’s 2025 financial targets, and the reinsurer expects the market to be constructive going forward, according to Urs Baertschi, P&C Reinsurance Chief Executive Officer, Swiss...
Posted: Dec 13, 2024
Farmers Insurance has announced it will resume offering coverage for multiple lines of insurance in California to new customers, in a phased reintroduction beginning December 14, 2024. Farmers Insurance’s expanded coverage will include condominium...
Posted: Dec 13, 2024
Bay Harbor Reinsurance Company, a provider of reinsurance solutions for the US Property and Casualty market, has established a new $50 million letter of credit facility with Barclays Bank PLC. The agreement includes provisions that could potential...
Posted: Dec 13, 2024
The property market remains in a delicate state, although a general softening trend is evident, Amwins’ analysts have stated in its latest State of the Market Report This year has seen a series of significant weather events, with Hurricanes Helene...
Posted: Dec 13, 2024
A report by Howden Employee Benefits, in partnership with YouGov, reveals that 77% of UK small and medium-sized enterprises (SMEs) plan to update their employee benefits packages to attract and retain top talent, address workforce challenges, and...
Posted: Dec 13, 2024
EPIC Insurance Brokers & Consultants, a provider of risk management, insurance brokerage, and employee benefits consulting, has appointed Robert Peretti as Executive Director to lead National Markets and Placement. In this role, Peretti will p...
Posted: Dec 13, 2024
Guy Carpenter, Marsh McLennan’s reinsurance broking arm, has launched a new research project to explore using parametric insurance solutions to insure communities across California and Florida for wildfire and hurricane risks. The research i...
Posted: Dec 13, 2024
The risk to vessels, undersea cables, and offshore oil installations is growing primarily due to the availability of advanced weapons and the willingness of certain states, notably Russia and Iran, to disregard international maritime laws, accordi...
Posted: Dec 13, 2024
2025 is expected to see a renewed push for statutory reforms in states heavily impacted by hurricanes in the commercial property insurance space in hurricane-prone states, which were severely impacted by the 2024 Atlantic Hurricane season, accordi...
Posted: Dec 13, 2024