Reinsurance News
London-domiciled, Lloyd’s Approved Coverholder, energy sector managing general agent (MGA) Volt Underwriting launches today to support clients active in the energy transition sector, with initial capacity of $25 million for US and international on...
Posted: Oct 14, 2024
Home insurance firm Hippo has announced it will expand home builder access to its New Homes Program in California, Florida, and Texas by the end of the year. Hippo’s New Homes Program expects to provide access to insurance for almost 50,000...
Posted: Oct 14, 2024
Arc Legal Group, a member of the AmTrust Financial Group and a prominent provider of ancillary products and services in the UK, has announced the immediate appointment of Lee Taylor as Chief Executive Officer, pending regulatory approval. With two...
Posted: Oct 14, 2024
Broadstone, an independent financial services consultancy, has announced the appointment of Rahul Choudhary as Director of Regulatory Analytics in its Insurance, Regulatory & Risk division. In this role, Choudhary will help expand the division...
Posted: Oct 14, 2024
The US commercial insurance sector saw a composite rate increase of 3.8% in Q3 2024, with property insurance up 5.7% and commercial auto and transportation risks experiencing the highest rise at 7.3%. MarketScout notes that although insurers expec...
Posted: Oct 14, 2024
Duck Creek Technologies, a provider of SaaS core systems for the P&C insurance industry, has acquired Risk Control Technologies, Inc. (RCT), a Toronto-based provider of risk management and loss control solutions. According to the announcement,...
Posted: Oct 14, 2024
Strategic Risk Solutions (SRS), an independent provider of insurance, reinsurance and captive management and consulting services, has announced that Konrad Baumann has joined SRS Switzerland as a General Manager of SRS Europe. He joins the organis...
Posted: Oct 11, 2024
According to the latest forecasting report by the Insurance Information Institute (Triple-I) and collaborating partner, Milliman, the first-half economic and underwriting results for the US property and casualty (P&C) industry were better than...
Posted: Oct 11, 2024
Altus Consulting, a specialist in Financial Services Management Consultancy, has released a whitepaper titled All Aboard for Modernisation: Next Stop Underwriting, which discusses the insurance industry’s imminent next phase of modernisation...
Posted: Oct 11, 2024
A new integrated insurance and asset management platform has been created through the strategic combination of investment company Westaim, global institutional asset manager Arena, and Ceres Life, a cloud-native, highly scalable annuity platform t...
Posted: Oct 11, 2024
J.P. Morgan’s equity analyst team have stated that hurricane Milton is likely to have exhausted much of catastrophe budgets for Q4’24 in general, with the remainder of the quarter yet to come. Ultimately, analysts noted that they see t...
Posted: Oct 11, 2024
InsurTech Intelligent AI has partnered with the Building Cost Information Service (BCIS) to launch a new AI-driven property rebuild cost platform. The Intelligent Rebuild Cost Platform (IRCP) was developed through Lloyd’s Lab in collaboratio...
Posted: Oct 11, 2024
S&P Global Ratings, a provider of credit ratings and financial analytics, is closely monitoring the situation surrounding Hurricane Milton. The organisation believes that Florida has effectively strengthened its reserves and liquidity in prepa...
Posted: Oct 11, 2024
Marsh, the insurance broking and risk advisory subsidiary of Marsh McLennan, has appointed Will Thomas-Ferrand as International Practice Leader, Marsh Captive Solutions, a London-based role. He will assume the leadership of Marsh’s captive insuran...
Posted: Oct 11, 2024
International insurance group Ageas has confirmed that it has entered into exclusive negotiations to ink two major deals with Saga plc, a UK specialist provider of products and services to people aged over 50. The proposed transaction would see bo...
Posted: Oct 11, 2024
Commercial property insurer, FM Global which recently rebranded as FM, has received an upgrade in its financial strength rating to ‘AA-’ from ‘A+,’ by S&P Global Ratings, reflecting its ‘very strong’ competitive profile, innovative risk engine...
Posted: Oct 11, 2024
MIC Global (MIC) intends to become a Lloyd’s coverholder of Greenlight Re’s Syndicate 3456 (S3456), subject to applicable approvals, a strategic move that marks a strengthening of the partnership between both companies. MIC is focused on embedding...
Posted: Oct 11, 2024
The Ardonagh Group has confirmed it has completed the acquisition of PSC Insurance Group Limited. As per the insurance broking platform, the completion of this acquisition in the APAC region sees PSC’s operations in Australia and New Zealand now c...
Posted: Oct 11, 2024
Lloyd’s of London, the specialist insurance and reinsurance marketplace, has added Jane Warren of Liberty Corporate Capital Limited, to the Lloyds Council and announced her election as a Corporate External Member of the Council. According to...
Posted: Oct 11, 2024
According to Fitch Ratings, Hurricane Milton is not likely to affect credit for its rated P&C insurers and global reinsurers given very strong capital levels, though Florida property insurance specialists are vulnerable to the extent the hurri...
Posted: Oct 11, 2024
Africa Specialty Risks (ASR), a pan-African and Middle East focused re/insurance group, has announced the appointment of Amit Khilosia as Chief Distribution Officer, an UK-based role. In his new role, Khilosia will lead ASR’s distribution efforts...
Posted: Oct 11, 2024
With Hurricane Milton’s insured losses likely to be more modest than initially feared, the equity analyst team at Jefferies has suggested that it will probably be a large earnings event and is not expected to drive up property reinsurance ra...
Posted: Oct 11, 2024
To enhance the operational safety of its aviation clients, global insurance provider HDI has established a collaborative partnership with the Flight Safety Foundation’s Basic Aviation Risk Standard (BARS) Program. As a BARS Member Organizati...
Posted: Oct 11, 2024
A new report from Moody’s has suggested that insured losses from Hurricane Milton will affect both primary insurers and the reinsurance sector, with the proportion of losses ceded to reinsurers increasing as losses increase. Milton made land...
Posted: Oct 11, 2024
Cyber and data privacy have emerged as the top risks in the technology, media, and telecom (TMT) sectors, which are increasingly relying on innovations like artificial intelligence (AI) to drive growth, according to a recent report by WTW. The rep...
Posted: Oct 11, 2024