Reinsurance News
Antoine Bavandi, Global Head of Public Sector, Parametric & Climate Resilience Solutions at Gallagher Re highlighted the growing recognition of disaster risk financing and insurance in disaster response during his summary of key takeaways from...
Posted: Dec 13, 2024
MAPFRE RE, the reinsurance arm of Madrid-headquartered insurer MAPFRE, has announced it is sponsoring the issuance of a catastrophe bond of USD $125 million, issued through Recoletos Re DAC, an special purpose vehicle (SPV) incorporated in Ireland...
Posted: Dec 13, 2024
Industry giant Munich Re has disclosed that due to consistently good operational performance in all business segments, the group is now aiming for an IFRS net profit of €6 billion in 2025. This morning, the reinsurance giant announced some targets...
Posted: Dec 13, 2024
Devonshire Underwriting, a managing general agent (MGA) specialising in underwriting transactional risk solutions, has announced the appointment of Kate Nolan as Associate – Tax, effective immediately. In her new role, Nolan will work alongside De...
Posted: Dec 13, 2024
Swiss Re has revealed its financial targets for 2025, including a Group net income of more than $4.4 billion, and a Property & Casualty Reinsurance combined ratio of less than 85%. According to the global reinsurer, all business units are aimi...
Posted: Dec 13, 2024
LIMRA, a global research and consulting organisation for the insurance and financial services industry, reports that the total US single-premium pension risk transfer (PRT) premium reached $14.2 billion in the third quarter. This represents a 36%...
Posted: Dec 13, 2024
Eurazeo has entered into exclusive discussions with an investor consortium led by La financière de Blacailloux (Fiblac), a family holding company, regarding the sale of its 70% stake in Albingia, a French insurance company specialising in risk man...
Posted: Dec 13, 2024
Orion180, a provider of insurance solutions, has recently announced the launch of its new Residential Private Flood Insurance product. Orion180’s Private Flood Insurance product provides customisable and extensive coverage options for homeowners a...
Posted: Dec 13, 2024
According to Paul Davenport, Finance & Risk Director at the Lloyd’s Market Association (LMA), the Lloyd’s Market has made notable progress towards its objectives of reducing the burden of compliance with financial reporting for participa...
Posted: Dec 13, 2024
Credit rating agency AM Best has upgraded Korean Reinsurance Company’s (KRE) Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” (Excellent) from “a” (Excellent) and affirmed its Financial Strength Rating (FSR) of A (Excellent). Additionally, A...
Posted: Dec 13, 2024
Cyber risk is set to intensify next year as attackers switch tactics in response to better corporate cyber defences, and as advances in artificial intelligence (AI) increase the volume and effectiveness of their strikes, says Moody’s Ratings...
Posted: Dec 12, 2024
Commercial and specialty lines insurer HDI Global has appointed Dr Carsten Schulte as the Global Head of Marine of its industrial insurer, HDI Global SE, effective January 1st, 2025. The company confirmed that Alexander Schlei will succeed Dr Schu...
Posted: Dec 12, 2024
Regal Reinsurance Brokers has officially launched in Ghana, opening an office at Achimota, Mile 7, in Accra, according to a report by The Multimedia Group. Specialising in all lines of insurance for clients in Ghana and abroad, Regal Re is regulat...
Posted: Dec 12, 2024
Swiss Re’s Frederico Knapp has been appointed Chief Financial Officer (CFO) of IRB-Brasil Resseguros S.A. (IRB Re). Knapp will reportedly join the firm on December 20, 2024, replacing Marcos Pessôa de Queiroz Falcão, who will remain as Chief...
Posted: Dec 12, 2024
New research from WTW has revealed a shift away from a transactional view of facultative reinsurance and a move towards using it as a tool to achieve strategic objectives and priorities, fill gaps in treaties and manage risk throughout the cycle....
Posted: Dec 12, 2024
Global insurer QBE now has a class 4 license in Bermuda, providing the reinsurance arm, QBE Re, with further optionality in the balance sheets it offers its cedants. In a recent LinkedIn post, QBE Re said, “This is a great complement to the underw...
Posted: Dec 12, 2024
Global climate insurtech IBISA and VisionFund, the financial empowerment and livelihood arm of World Vision, have launched ClimaCash+, a suite of parametric climate insurance products aimed at helping communities vulnerable to climate risks respon...
Posted: Dec 12, 2024
Ewout Steenbergen, current Executive Vice President and Chief Financial Officer of Booking Holdings Inc., has been appointed as a member of AXA’s Board of Directors to replace Rachel Duan as she intends to resign from her directorship at the end o...
Posted: Dec 12, 2024
Goldman Sachs anticipates a stable and orderly reinsurance renewal season in 2025, with property catastrophe pricing expected to decline by 5-15 percentage points at the January 1st renewals. This prediction is based on insights from W.R. Berkley...
Posted: Dec 12, 2024
Rokstone, an international specialty re/insurance managing general agent (MGA) and part of the Aventum Group, has announced the appointment of Henry Hogarth as Senior Underwriter in its Direct & Facultative (D&F) Property team. James Potte...
Posted: Dec 12, 2024
Financial innovations such as cyber catastrophe bonds could help bridge the cyber protection gap, according to a recent report by the Geneva Association. As businesses and societies become increasingly digital, cyber threats such as ransomware, da...
Posted: Dec 12, 2024
Lloyd’s of London is expected to continue producing strong earnings and capital over the next 12-18 months, due to underwriting discipline, favourable market conditions and robust investment returns, according to Moody’s Ratings. Howev...
Posted: Dec 12, 2024
Specialist insurance provider CFC has announced the growth of its Australian-based cyber team with the addition of Michael Lewis. Starting in January 2025, Lewis will assume his new position at CFC. Previously, he spent two years at Emergence Insu...
Posted: Dec 12, 2024
Independent specialist insurance and reinsurance broker BMS Group has agreed to acquire Spain-based insurance broker Rasher, and its Latin American subsidiaries in Colombia and Peru, subject to regulatory approvals. According to BMS Group, through...
Posted: Dec 12, 2024
Aon and the European Bank for Reconstruction and Development (EBRD) have launched a facility supporting the revitalisation of the war risk insurance market in Ukraine, with global speciality reinsurer MS Amlin the first international reinsurance p...
Posted: Dec 12, 2024