Reinsurance News
CFC, an insurance provider and specialist in emerging risks and cyber insurance, has announced the opening of its first office in Spain. Following its expansion into North America and Australia earlier in 2024, the new Madrid office represents ano...
Posted: Sep 26, 2024
Africa Specialty Risks (ASR), the pan-African and Middle East-focused re/insurance group, has appointed Aurélien Sauty to lead its new Marine and Aviation divisions, as Head of Marine and Aviation. The appointment and strategic expansion further e...
Posted: Sep 26, 2024
The shareholders of PSC Insurance Group Limited have approved Ardonagh’s proposed acquisition, as revealed by the independent insurance broking platform. Back in May, it was announced that Ardonagh had entered into a Scheme Implementation De...
Posted: Sep 26, 2024
Fidelis Insurance Group, the global specialty insurer, has promoted Aoife Woulfe to the role of Chief Underwriting Officer (CUO) of Ireland. Woulfe joined Fidelis in May of this year as Head of Underwriting, Ireland, after spending more than a dec...
Posted: Sep 26, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has announced the promotion of Peter Ukstins to lead its Construction Risk Engineering team in the Americas. Donna Nadeau, Head of Large Commercial at...
Posted: Sep 26, 2024
Lloyd’s, the specialist insurance and reinsurance marketplace, has partnered with the World Bank Group’s Multilateral Investment Guarantee Agency (MIGA) in an effort to boost annual guarantee issuance to $20 billion by 2030. For this i...
Posted: Sep 26, 2024
Sompo, a global provider of commercial and consumer property and casualty re/insurance, has launched a new national marine insurance proposition for the United Kingdom. This new policy will allow the insurer, for the first time, to write Marine Ca...
Posted: Sep 26, 2024
Monarch E&S Insurance Services, a Specialty Program Group LLC subsidiary, in partnership with Obsidian Insurance Holdings, an insurance holding company, to launch an enhanced and exclusive personal umbrella policy, the Knight Protector. This c...
Posted: Sep 26, 2024
Applied Underwriters, a provider of insurance solutions, has recently experienced growth, strong underwriting results, and expanded market presence. According to the company’s leaders, these achievements are due to strategic hiring of high perform...
Posted: Sep 26, 2024
Stephen Bennett, Demex Group’s Chief Scientist, a risk analytics and intelligence company offering reinsurance solutions for severe convective storms, is to lead the Industry Advisory Board for a new Cooperative Center for Interdisciplinary...
Posted: Sep 26, 2024
Tokio Marine Kiln (TMK), an insurer in special risks underwriting, and Marsh, an insurance broker and risk management expert, have jointly announced the launch of an exclusive insurance facility for ports and terminals, providing protection agains...
Posted: Sep 25, 2024
Brown & Brown, Inc., the insurance brokerage firm, has appointed Mike Neal and Mark Abate to its senior leadership team and the retail segment senior leadership team. Neal will serve as the Executive Vice President within Brown & Brown’s R...
Posted: Sep 25, 2024
Credit rating agency AM Best has maintained a stable outlook on Peru’s insurance industry despite the growing perception of risk related to political instability in the country. According to the Best’s Market Segment Report titled “Mar...
Posted: Sep 25, 2024
Analysts at Goldman Sachs have reported that the European multi-lines represent c.60% of the market cap under the company’s coverage and offer diversification of earnings both geographically and by line of business. “In a macro environ...
Posted: Sep 25, 2024
Concert Group Holdings (Concert), a privately owned insurance holding company, has announced the establishment of its new risk retention platform, Harmony Re, appointing Katarina Scamborova as President and forming a board of directors. Scamborova...
Posted: Sep 25, 2024
WTW is expanding its presence and broadening offerings focused on the Chinese market with its newly launched China Client Division within Corporate Risk and Broking, North America (CRB NA). The new China Client Division, to be led by Jie Yan, is p...
Posted: Sep 25, 2024
Citing initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ), which place the combined insured loss of four catastrophe weather events this summer in Canada at more than CAD 7 billion, the Insurance Bureau of Canada (IBC) has...
Posted: Sep 25, 2024
Essent Group’s wholly-owned subsidiary, Essent Guaranty, has obtained $363.4 million of fully collateralized excess of loss reinsurance coverage on mortgage insurance policies written in July 2023 through to July 2024 from Radnor Re 2024-1 L...
Posted: Sep 25, 2024
Chedid Capital, an investment group in the insurance and reinsurance industry, has appointed James Illingworth as an Independent NonExecutive Director at Milestone Risk Solutions Ltd in the United Kingdom and a Strategic Committee Member at Moment...
Posted: Sep 25, 2024
A new report from AM Best, a credit rating agency, suggests that Hong Kong’s upcoming risk-based capital regulatory framework will enhance enterprise risk management (ERM) practices for (re)insurers operating in the region. The Best’s Specia...
Posted: Sep 25, 2024
Reciprocal exchanges appear to be in favour following the launch of a notable amount of start-ups in recent years, however, according to a new report from KBRA, the full-service credit rating agency, certain benefits with the ventures can also cre...
Posted: Sep 25, 2024
The latest forecast from the National Hurricane Centre (NHC) is for Tropical Storm Helene to make landfall on the Big Bend region of the Florida panhandle as a major Category 3 or higher hurricane, but as ever, there’s potential for the trac...
Posted: Sep 25, 2024
Several factors, including high commodity prices, volatile inflation, and deteriorating macroeconomic conditions, have challenged the financial strength of sub-Saharan Africa (SSA) reinsurers; however, AM Best highlights their resilience and susta...
Posted: Sep 25, 2024
Global specialty broker Price Forbes has appointed Thomas Russell to the newly created role of Director, Head of Australian and New Zealand (ANZ) Wholesale for Price Forbes Asia. Based in Singapore, Russell will be reporting to Phil Johnson, CEO o...
Posted: Sep 25, 2024
According to the latest Lockton Market report, US commercial insurance market conditions favour buyers across most lines of coverage, however, a sense of uncertainty in terms of both the economy and the insurance marketplace looms over the industr...
Posted: Sep 25, 2024