Reinsurance News
Damages from severe flooding across Czech Republic, Austria, Poland, Slovakia, Hungary, Germany, and Italy between September 11th-19th is expected to result in insurance industry losses of between $2.8 billion (€2.5bn) and $3.9 billion (€3.5bn), a...
Posted: Oct 02, 2024
Trigger Parametric, a new parametric underwriter has been launched with the aim to model, structure, and place parametric cover for natural and man-made perils globally. A UK entity, Trigger Parametric intends to operate as both a managing general...
Posted: Oct 02, 2024
Ventis, a Managing General Agent specialising in Commercial and Residential insurance, has expanded its operations into Ireland. Established in early 2024, Ventis remains focused on providing quality service and coverage to brokers in the underser...
Posted: Oct 02, 2024
Saudi Reinsurance Company has announced the appointment of Ahmed Al-Jabr as its new Chief Executive Officer, effective October 1, taking over the role from Fahad Al-Hesni. Al-Jabr has 25 years of diverse experience in the insurance and reinsurance...
Posted: Oct 02, 2024
HSB, a multi-line specialty insurer and part of the reinsurance giant Munich Re, has introduced HSB CyberPro™, a new cyber insurance option for commercial clients seeking comprehensive coverage against evolving cybersecurity risks. HSB CyberPro co...
Posted: Oct 02, 2024
International law firm Mayer Brown has announced the addition of George Belcher as partner in its Corporate & Securities practice and Global Insurance Industry Group in London. Belcher specialises in insurance-related mergers and acquisitions,...
Posted: Oct 02, 2024
Jefferies, a global investment banking firm, forecasts a significant rebound in the Insurance-Linked Securities (ILS) market, with CAT bond issuance expected to grow in 2023-2024 and expand into other ILS vehicles by 2025. The firm anticipates the...
Posted: Oct 01, 2024
Managing General Agents (MGAs) are becoming increasingly vital in emerging and developing markets, offering insurers greater flexibility, innovation, and niche underwriting solutions, a recent Global Insurance Law Connect (GILC) report has highlig...
Posted: Oct 01, 2024
Global reinsurer Hannover Re has announced the appointment of Margot Wilson as Managing Director of the newly created division Life & Health Global Services. The division will be responsible for spearheading crucial initiatives related to L...
Posted: Oct 01, 2024
LCP (Lane Clark & Peacock), a consultancy firm specialising in actuarial, investment, and insurance services, has reported another robust financial year for the insurance market, despite the challenges posed by increasing risks. Their eighth a...
Posted: Oct 01, 2024
The UK P&I Club, a provider of protection and indemnity (P&I) insurance and other services for the international shipping community, has announced the appointment of Kyle Lochridge as Senior Vice President (SVP) for the Americas. Lochridge...
Posted: Oct 01, 2024
WTW, the global insurance broker, has entered into a definitive agreement to sell its TRANZACT direct-to-consumer insurance distribution business to GTCR, a private equity firm, and Recognize, a technology services investment platform, for $632.4...
Posted: Oct 01, 2024
The number of disruptive and destructive global cyber-attacks taking place each year is set to increase by 105% to the end of 2024, according to a new report from QBE. In fact, the trend shows that these significant, disruptive and destructive glo...
Posted: Oct 01, 2024
A wholly owned subsidiary of legacy specialist Enstar Group has closed the previously announced $400 million loss portfolio transfer (LPT) with a subsidiary of Bermuda-based insurer and reinsurer, SiriusPoint. This transaction sees Enstar’s...
Posted: Oct 01, 2024
Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs) and middle-market businesses, has appointed Denise Pagliarulo to lead its finance team. In her new role, Pagliarulo will be overseeing global finance operations a...
Posted: Oct 01, 2024
SEADRIF Insurance Company has made a record total payout of US$3 million to support the provinces in Lao PDR impacted by the passage of Typhoon Yagi, which has been called Asia’s most powerful storm this year. The extended flood impact triggered a...
Posted: Oct 01, 2024
American Overseas Group, a Bermuda-based property & casualty (P&C) holding company, reported a significant rise in net earned P&C premiums for Q2 2024, increasing by $6.2 million from $6.5 million last year to $12.7 million. Gross writ...
Posted: Oct 01, 2024
Independent specialist insurance and reinsurance broker Miller has completed its acquisition of Madrid-based commercial re/insurance broker Bruzon Correduría de Seguros y Reaseguros S.A. and Bruzon Services S.A. (Bruzon). This acquisition follows...
Posted: Oct 01, 2024
Global data analytics and technology provider, Verisk’s Extreme Event Solutions arm has estimated that insured losses from September flooding in Czechia, Poland, and Austria will land between $2.2 billion (€2bn) and $3.4 billion (€3bn). From...
Posted: Oct 01, 2024
Specialty insurer Beazley has appointed Paul Bantick as Chief Underwriting Officer (CUO), effective immediately, and Bethany Greenwood as Chief Executive Officer (CEO) of Beazley Furlonge Limited, the company’s Lloyd’s managing agency, subject to...
Posted: Oct 01, 2024
Acrisure Re, the reinsurance and insurance division of global fintech Acrisure, has appointed Peter Sharpe as the Head of the London-based Specialty Reinsurance team, effective October 7th. Sharpe has a reporting line to David Sowrey, Managing Dir...
Posted: Oct 01, 2024
Cyber risk solutions firm Resilience has expanded its insurance operations to France and Benelux, appointing renowned cyber insurance veteran Marijke van Berkom as Head of France & Benelux to lead its efforts to support clients and brokers acr...
Posted: Oct 01, 2024
Large European reinsurer Hannover Re has appointed Blake Dimitrijevic, formerly of reinsurance broker Guy Carpenter, as the new Managing Director (MD) of its Australian branch. Dimitrijevic joins the firm after a little over a year with Guy Carpen...
Posted: Oct 01, 2024
PIB Group, the specialist insurance intermediary has acquired Nottingham-based RS Insurance Brokers, adding RS’s expertise in Fleet and Professional Indemnity in particular to its portfolio of specialisms. From what Reinsurance News understands, e...
Posted: Oct 01, 2024
In anticipation of the Chancellor’s forthcoming Budget, three quarters of financial services leaders foresee a moderate or greater impact on their operations, over a quarter expect the impact will be significant, but business outlook remains...
Posted: Oct 01, 2024