Reinsurance News
The first half of 2024 saw 134 buy-ins completed, with a total value of £15.2 billion, making it the highest number of transactions ever recorded in a six-month period, according to Hymans Robertson, the independent pensions and financial services...
Posted: Oct 18, 2024
Lockton Re, the reinsurance arm of the independent insurance broker, has appointed Srikanta Nandy as Chief Platform Officer, based in New York. Nandy is a 25-year insurance veteran with deep expertise in Global Platform Delivery, Enterprise Data M...
Posted: Oct 18, 2024
In collaboration with Guy Carpenter and Liberty Mutual Reinsurance, AIR Parametric has launched Milkshake, a new parametric insurance product designed to safeguard US dairy producers from heat stress on their livestock herds. According to Air Para...
Posted: Oct 18, 2024
A recent report by QBE North America, in collaboration with Zywave, revealed that many businesses are overlooking additional risk management services included in their cyber insurance policies, underscoring the need for greater awareness to enhanc...
Posted: Oct 18, 2024
AXA XL Reinsurance has appointed Swiss Re’s Greg Schiffer as Chief Executive Officer, North America, Reinsurance, effective 11 November 2024. Schiffer is a seasoned executive with extensive expertise in senior-level reinsurance leadership, c...
Posted: Oct 18, 2024
The Government of Ghana has purchased its first sovereign drought insurance policy, marking a significant step toward protecting vulnerable communities and the agricultural sector from drought. Coordinated by the Global Shield Secretariat, this po...
Posted: Oct 18, 2024
According to initial data analysis by catastrophe risk modeller, CoreLogic, industry-wide insured wind and flood losses from hurricane Milton are estimated at between $17 billion and $28 billion. The total damage from Milton, including losses to u...
Posted: Oct 18, 2024
Berkshire Hathaway Specialty Insurance (BHSI), a provider of commercial property, casualty, and specialty insurance, has announced two key leadership promotions. Lars Messutat has been appointed as the Head of General Property for the DACH region,...
Posted: Oct 18, 2024
Beat Capital Partners, a London-based incubator of underwriting franchises and a subsidiary of Ambac Financial Group, Inc., has launched Fallow Grove Insurance Services in partnership with former CrossCover executive Brett Dupre. The Fallow Grove...
Posted: Oct 18, 2024
Global insurance and reinsurance broker Aon has announced the expansion of Christopher Lovino’s role to U.S. Growth Leader, Global Risk Consulting. Lovino brings nearly three decades of experience at Aon, where he has held various leadership posit...
Posted: Oct 18, 2024
Ambac Financial Group, the insurance holding company, has announced that its shareholders have voted to approve the proposed purchase agreement under which funds managed by Oaktree Capital Management LP will acquire its legacy financial guaranty b...
Posted: Oct 18, 2024
The Insurance Development Forum (IDF) has appointed Karina Whalley, Head of Public Sector at AXA Climate, and Ruth Lux, Head of Public Sector IMEA at Guy Carpenter, as new private sector Co-Chairs of the Sovereign and Humanitarian Solutions (SHS)...
Posted: Oct 18, 2024
The Insurance Development Forum (IDF) has appointed Karina Whalley, Head of Public Sector at AXA Climate, and Ruth Lux, Head of Public Sector IMEA at Guy Carpenter, as new private sector Co-Chairs of the Sovereign and Humanitarian Solutions (SHS)...
Posted: Oct 18, 2024
Moody’s RMS Event Response has estimated that total private insurance industry losses from hurricane Milton will fall between $22 billion and $36 billion, as the firm trims its combined Helene and Milton insured loss range to $30 billion to $50 bi...
Posted: Oct 17, 2024
Global reinsurance broker Gallagher Re has announced the appointment of Abdessamad El Angoudi as Head of Agriculture EMEA and Senior Parametrics Sales for International. In his new role, El Angoudi will collaborate closely with Shilpa Pankaj, Inte...
Posted: Oct 17, 2024
During Marsh McLennan’s earnings call for the third quarter of 2024, John Doyle, the company’s President and CEO, explained that the global broker’s $7.75 billion acquisition of McGriff Insurance Services, LLC, is expected to be...
Posted: Oct 17, 2024
US primary insurer Allstate reported estimated catastrophe losses of $889 million ($702 million after tax) for September, which includes $630 million in pre-tax losses related to Hurricane Helene, with total catastrophe losses for the third quarte...
Posted: Oct 17, 2024
Demand for reinsurance and insurance catastrophic coverage in Brazil is expected to grow following the floods that struck the Brazilian state of Rio Grande do Sul earlier this year, says S&P Global Ratings. In a new report, S&P noted that...
Posted: Oct 17, 2024
At Swiss Re’s Baden-Baden media conference, Nikhil da Victoria Lobo, Head of P&C Reinsurance for Western & Southern Europe, Middle East & Africa, emphasised that rising global instability will lead to more Strikes, Riots, and Civil Com...
Posted: Oct 17, 2024
Dean Klisura, Chief Executive Officer (CEO) of Guy Carpenter, the reinsurance broking arm of Marsh McLennan, stated during the firm’s recent earnings call that although it’s still early, post hurricane Milton the broker sees a flatteni...
Posted: Oct 17, 2024
The Travelers Companies has today reported an underwriting gain of $685 million for the third quarter of 2024 despite a rise in catastrophe losses, net of reinsurance, to $939 million, while substantial net favorable prior year reserve development...
Posted: Oct 17, 2024
In an interview with Reinsurance News, Abdou Alassane, Technical Lead, Crisis Anticipation and Risk Financing at Start Network, emphasised that pooling funds and transferring some risk to the insurance market has enhanced Start Network’s hum...
Posted: Oct 17, 2024
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has reportedly generated revenue of $381 million in Q3 of 2024, an increase of 6% compared with the same quarter of 2023. Marsh McLennan’s Risk & Insurance Services unit, whic...
Posted: Oct 17, 2024
Insurance industry intermediary, Specialist Risk Group (SRG), has appointed Collin Yap as Chief Executive Officer (CEO) of Asia Pacific, after his current employment contract ends in the new year. This leadership appointment aligns with SRG’s broa...
Posted: Oct 17, 2024
NFP, a subsidiary of Aon and an international insurance brokerage and consultancy, has announced its acquisition of IHI Group, a Dublin-based advisory firm specialising in financial planning, healthcare, and general insurance services. Philip Bren...
Posted: Oct 17, 2024