Reinsurance News
As a developing Continent that is seeing increased interest in business investment, Africa presents growth opportunities for insurers and reinsurers, Mikir Shah, CEO of Africa Specialty Risks (ASR), said in a recent interview with Reinsurance News...
Posted: Oct 04, 2024
Munich Re Specialty – North America, part of the global reinsurance giant Munich Re Group, has appointed Tom Wallace as Chief Underwriting Officer (CUO) for the Binding Authorities business. In his new role, Wallace will be based in London with a...
Posted: Oct 04, 2024
Insurance industry losses from all perils associated with hurricane Helene, across all affected states, will likely at least be in the higher single-digit billions of USD, with economic losses forecast to be notably higher, according to insurance...
Posted: Oct 04, 2024
TIH subsidiary, Starwind Specialty Insurance Services, LLC, in partnership with Stone Point Credit, has launched Fractal Re Ltd., a new collateralized reinsurer with $270 million of raised capital, designed to provide capacity across Starwind’s di...
Posted: Oct 04, 2024
Ratings agency AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb+” (Good) to AVLA Re Ltd. (AVLA Re) (Bermuda), with the outlook assigned to these ratings being stable. The agency noted that...
Posted: Oct 04, 2024
Global insurance broker WTW has appointed Gerald M. Dolina as Head of Philippines, and Head of Corporate Risk & Broking (CRB) Philippines, effective January 2nd, 2025. Dolina brings extensive experience in people, client, and market leadership...
Posted: Oct 04, 2024
Prime Insurance Company, an excess and surplus lines carrier, has introduced the TRU Solution, offering clear and reliable coverage during times of crisis. The TRU Solution was developed in response to policyholders’ need for a trustworthy i...
Posted: Oct 04, 2024
HDI Global, the commercial and specialty lines insurer, has appointed Philipp Glanz as the new Managing Director (MD) of HDI Risk Consulting (HRC), effective as of October 1, 2024, where together with the current MD, Dr Jörg Ohlsen, he will focus...
Posted: Oct 04, 2024
Howden has acquired Associated Beauty Therapists Ltd (ABT) and Associated Irish Therapists Ltd (AIT), two beauty membership providers that offer insurance broking services to members operating in the heath, wellbeing and beauty sectors in the UK a...
Posted: Oct 04, 2024
The insurance and reinsurance industry is about confidence giving, providing financial protection, and establishing public and private partnerships, according to John Neal, Chief Executive Officer (CEO) of the specialist Lloyd’s insurance an...
Posted: Oct 03, 2024
Global insurance and reinsurance broking group Aon has appointed Paul Schultz as Vice Chair of its Reinsurance Solutions arm, with Richard Pennay taking over as Chief Executive Officer (CEO) of Aon Securities, the firm’s capital markets and...
Posted: Oct 03, 2024
Optio Group, a specialty managing general agent (MGA) has acquired the Luxembourg-based MGA, Circles Group (Circles) for an undisclosed sum, subject to regulatory approval. According to the announcement, the acquisition of Circles marks Optio̵...
Posted: Oct 03, 2024
Coalition, an active insurer focused on preventing digital risks, has appointed Tine Simonsen as its Head of Insurance for Continental Europe. Simonsen has nearly 14 years of experience as a specialist within the Financial Lines & Cyber Insura...
Posted: Oct 03, 2024
A new parametric insurance platform, Adaptive Insurance, powered by artificial intelligence (AI) has launched with a mission to change how businesses safeguard against climate risks. The company’s flagship product GridProtect will offer immediate,...
Posted: Oct 03, 2024
Moody’s Ratings has upgraded Hub International Limited’s corporate family rating to B2 from B3, with a stable outlook, as well as its probability of default rating to B2-PD from B3-PD. According to the agency, this upgrade was based on the company...
Posted: Oct 03, 2024
Global insurance and reinsurance broker Aon has restructured its senior leadership team for US Financial Services Group (FSG), appointing Anna Digel as Chief Broking Officer. Collin Breeney and Joe Reynolds have also been promoted to co-leaders fo...
Posted: Oct 03, 2024
AM Specialty Insurance Company (ASIC), a provider of specialised insurance products, and Swain & Baldwin Insurance & Risk Management, an independent agency with over 65 years of experience, are excited to announce the launch of the PawPro...
Posted: Oct 03, 2024
Ryan Specialty, an international specialty insurance firm, has completed the acquisition of certain assets of Geo Underwriting Europe BV (Geo Europe), a European managing general agent (MGA) and part of The Ardonagh Group. This follows the initial...
Posted: Oct 03, 2024
Hurricane Helene is not likely to affect credit ratings for property/casualty re/insurers, Citizens Property Insurance or the Florida Hurricane Catastrophe Fund (FHCF), according to Fitch Ratings. Fitch based its assessment on its initial estimate...
Posted: Oct 03, 2024
Hurricane Helene is not likely to affect credit ratings for property & casualty re/insurers, Citizens Property Insurance or the Florida Hurricane Catastrophe Fund (FHCF), but could trigger the National Flood Insurance Program’s (NFIP) ca...
Posted: Oct 03, 2024
The Fidelis Partnership’s wholly-owned subsidiary, Pine Walk Capital Limited, has launched Silverflame Re, a new specialty reinsurance managing general agent (MGA). Silverflame Re aims to complement The Fidelis Partnership’s existing special...
Posted: Oct 03, 2024
The Microinsurance Network (MiN), a Luxembourg-based non-profit association, has announced a strategic partnership with the African Insurance Organisation (AIO), marking a significant milestone in advancing the development of inclusive insurance m...
Posted: Oct 03, 2024
Insurance and reinsurance broker Arthur J. Gallagher & Co. has announced that Artex, its alternative risk and capital solutions subsidiary, has acquired RIBV Holdings, LLC, which operates as Risk International. Based in Ohio, Risk Internationa...
Posted: Oct 03, 2024
CRC Group’s Starwind Specialty Insurance Services has appointed Kirk Conrad as its Chief Underwriting Officer (CUO). As CUO, Conrad will help shape the firm’s underwriting strategies, monitor and manage risks, and help to stay on top of emerging t...
Posted: Oct 03, 2024
A new note from JP Morgan on the European reinsurance market following RVS 2024, says that with the industry now producing strong returns, analysts are expecting that 2025 will lead to a stabilisation of the reinsurance market. Analysts noted that...
Posted: Oct 03, 2024