Reinsurance News
Ascend, a comprehensive accounting operations platform for insurance, has partnered with QuoteWell, a commercial insurance managing general agent (MGA) and wholesale brokerage, to modernise MGA accounting and workflows. This partnership aims to se...
Posted: Oct 16, 2024
Sompo, a global provider of commercial and consumer property and casualty re/insurance, has appointed Maya Dongyoung Lee as Chief Operating Officer (COO), Asia Pacific (APAC), effective October 16, 2024. She will report to Daniel Englberger, COO,...
Posted: Oct 16, 2024
mea, a GenAI-powered global platform that aims to simplify insurance processes, has renewed and expanded its strategic partnership with AXIS, a global specialty re/insurer. Through the partnership, AXIS will expand its use of mea’s generative arti...
Posted: Oct 16, 2024
McKenzie Intelligence Services (MIS) and London Market Operations & Strategic Sourcing (LIMOSS) have signed a new contract that will give Lloyd’s Managing Agents and associated company market business greater flexibility to access additional s...
Posted: Oct 16, 2024
Markel Group Inc., a reinsurance company, has announced the appointment of Stacey Hinton as Senior Underwriter, Head of Jewellers Block, Specie. In her new position, Hinton will focus on enhancing the profitability of Markel’s international...
Posted: Oct 16, 2024
Growth continues for the Cayman Islands insurance sector, according to the Cayman Islands Monetary Authority (CIMA) licensing statistics for the third quarter of 2024. During the period of July to September, CIMA granted five new international ins...
Posted: Oct 16, 2024
Clearwater Analytics, a provider of SaaS-based investment management, accounting, reporting, and analytics solutions, has announced three new appointments to its EMEA leadership team. Notably, Clearwater Analytics was recently awarded Investment &...
Posted: Oct 16, 2024
CEOs in the insurance industry are optimistic about their companies’ growth potential over the next three years, even in the face of challenges related to digital transformation, talent acquisition, and sustainability, according to a survey...
Posted: Oct 16, 2024
Sprout.ai, a claims automation insurtech, has appointed Ian Thompson as the first member of its growth advisory board, effective immediately. In this role, Thompson helps in shaping Sprout.ai’s strategic product direction and go-to-market strategy...
Posted: Oct 16, 2024
Tokio Marine HCC (TMHCC), a specialty insurance provider, has announced its entry into the Excess Casualty market, appointing David Perez to lead the new offering. TMHCC’s entry into the Excess Casualty market comes at a crucial time, providing mu...
Posted: Oct 15, 2024
Global reinsurance broker Gallagher Re has announced two key appointments to its Life & Health (L&H) Reinsurance team. Sanjeeb Kumar joins as Chairman of Life & Health Reinsurance, India, where he will play a pivotal role in driving th...
Posted: Oct 15, 2024
According to Fitch Ratings, adequate capacity has led to stable reinsurance market pricing for the Asia Pacific (APAC) region throughout 2024. Fitch notes that Asia’s premium-pricing rates signalled stable pricing in 2024 renewals, in compar...
Posted: Oct 15, 2024
Inari, a technology solution provider for global insurance and reinsurance companies, has partnered with Diesta, which offers streamlined premium processing platforms for insurance intermediaries. This partnership will integrate Diesta’s pre...
Posted: Oct 15, 2024
Progressive, the property and auto-focused insurance group, has revealed that incurred property losses and allocated loss adjustment expenses (ALAE) related to hurricanes Helene and Milton did not exceed the $200 million retention under its occurr...
Posted: Oct 15, 2024
French reinsurer SCOR has announced the appointment of Paula Bourke as Chief Executive Officer (CEO) of Life and Health (L&H), Australia & New Zealand, effective immediately. Bourke brings over 26 years of industry experience to the role,...
Posted: Oct 15, 2024
For the second-straight year, the US title insurance sector witnessed its volume of direct premium written decline, falling 32% to $14.3 billion in 2023, which according to AM Best, reflects housing and macroeconomic trends. It’s important t...
Posted: Oct 15, 2024
The West African Development Bank (BOAD) has launched the “Shock Resilient Loans” program under its sovereign loan portfolio, covered by parametric insurance against natural and health disasters, supported by Munich Re. The project’s p...
Posted: Oct 15, 2024
QBE International Markets is set to launch a new US Inland Marine offering by 2025, making it available in all 50 states as part of its expansion of specialty products and the addition of a new team. The team and product will be added to QBE Inter...
Posted: Oct 15, 2024
BlackRock, a global asset management firm, reports that insurers are focusing on increased investments in private markets, clean energy infrastructure, and innovative technology in 2024, according to its 13th annual Global Insurance Report. For th...
Posted: Oct 15, 2024
rradar, a UK legal enterprise, has announced the appointment of Matthew Williams as Managing Director (MD) of its newly launched insurance vehicle, rrelentless. By leveraging Williams’ expertise, he will help to drive forward the firm’s strategic...
Posted: Oct 15, 2024
Specialist Risk Group (SRG), an insurance intermediary majority-owned by Warburg Pincus and Temasek, has announced its expansion into the Asia Pacific (APAC) region and its plans to acquire HL Suntek Insurance Brokers Pte. Ltd. (HL Suntek). Based...
Posted: Oct 15, 2024
Argo Group has appointed renowned risk, actuarial, and underwriting veteran Kevin Madigan as Head of Capital Management, based in New York. Known for his experience particularly across the property & casualty (P&C) space, Madigan also has...
Posted: Oct 15, 2024
Karen Clark & Company (KCC) has estimated that the privately insured loss from Hurricane Milton will be close to $36 billion in the US from wind, storm surge, and inland flooding. This estimate, based on the high-resolution KCC US Hurricane Re...
Posted: Oct 15, 2024
As per a new report by Fitch Ratings, positive pricing trends in the London market are anticipated to continue into H2 2024, though at a slower rate than in 2023, following a period of high inflation, pandemic and natural disaster losses, and chal...
Posted: Oct 15, 2024
According to Milliman, a global consulting and actuarial firm, hurricane Milton is likely to be a manageable event for the reinsurance industry, but a major one for insurance carriers in the State of Florida and could even put some companies under...
Posted: Oct 15, 2024