Reinsurance News
Paratus Holdings has announced that Paratus Renewables Insurance Limited has been granted regulatory approval by the Guernsey Financial Services Authority (GFSC) to provide insurance cover to the renewable power industry. As a re/insurance group u...
Posted: Sep 25, 2024
Reinsurance market players are divided on whether price increases at the key January 1st renewals will be strong enough to properly account for increasing loss trends in the property catastrophe space, although Fitch Ratings expects reinsurers to...
Posted: Sep 25, 2024
Modern infrastructure, dams, and flood barriers significantly mitigated the impact of the 2024 flooding across Central and Eastern Europe, according to reinsurance broker Guy Carpenter, who has estimated an insured loss between €1.6 billion and €2...
Posted: Sep 25, 2024
Consilium, the global speciality re/insurance broking arm of the Aventum Group, has appointed Marie McCutcheon as its new Chief Operations Officer (COO). McCutcheon joins the leadership team with a focus on achieving operational excellence. In her...
Posted: Sep 25, 2024
SureChoice Underwriters Reciprocal Exchange (SURE), in collaboration with SageSure, has launched its first non-admitted business owners policy (BOP) in California. This new BOP solution comes as California faces fewer insurance options and increas...
Posted: Sep 25, 2024
Selective Insurance Group, Inc. has appointed Patrick S. Brennan as Chief Financial Officer (CFO), effective October 1st, 2024. As Brennan takes over the new position, Tony Harnett, who served as the interim CFO, will continue as Selective’s Senio...
Posted: Sep 25, 2024
At its 150th annual conference in Berlin, Germany, the International Union of Marine Insurance (IUMI), a global association representing marine insurers, presented its analysis of the latest trends in the marine insurance market. In 2023, the glob...
Posted: Sep 25, 2024
Aspen Insurance Group has announced the promotion of G. Robert Walters to SVP and Head of Property Treaty at Aspen Re America, effective October 1st. Walters, who has over three decades of experience in the insurance industry, will be based at Asp...
Posted: Sep 24, 2024
Xceedance, a global provider of technology and digital solutions, has acquired Millennium Information Services (MIS), an insurance inspection and data analytics firm based in the US. This acquisition expands the Xceedance Americas team by nearly 2...
Posted: Sep 24, 2024
The 2024 Travelers Risk Index released by property and casualty insurer, The Travelers Companies, Inc. has disclosed cyber threats as the top concern amongst businesses, for the fourth time in six years. Established in 2014, the annual survey asks...
Posted: Sep 24, 2024
SEADRIF Insurance Company has made a payout of US$750,000 to support the eight provinces in Lao PDR devastated by the passage of Typhoon Yagi, which has been called Asia’s most powerful storm this year. According to the announcement, the funds wil...
Posted: Sep 24, 2024
International law firm Mayer Brown has announced that Legal & General’s Tom MacAulay has joined the firm as a partner within its Corporate & Securities practice and Global Insurance Group in London. During his tenure at Legal & G...
Posted: Sep 24, 2024
Global law firm Appleby has announced that Max Tetlow will join its insurance team and corporate practice as Partner, effective 1 November 2024. Brad Adderley, Bermuda Managing Partner, expressed enthusiasm for Tetlow’s return, stating, “We are ex...
Posted: Sep 24, 2024
Ledger Investing, an insurtech and insurance-linked securities (ILS) focused venture-backed company, has successfully funded and launched a new casualty sidecar facility, designed to provide up to $100 million of capital to finance the casualty re...
Posted: Sep 24, 2024
According to Insuramore analysis, the value of the global market for property and casualty (P&C) insurance rose by 8.6% in 2023, before adjusting for inflation with private P&C lines at 9.2% outgrowing commercial P&C lines with 8.0% fo...
Posted: Sep 24, 2024
West Bend Insurance Company has expanded its partnership with ZestyAI to incorporate more AI-powered risk analytics into its underwriting process. West Bend will now utilise ZestyAI’s property risk platform, Z-PROPERTY, to improve the accuracy of...
Posted: Sep 24, 2024
Global life insurance group Resolution Life has announced the appointment of Ruth Farrugia as Chief Investment Officer, who will succeed Karl Happe as part of a planned transition. Farrugia, a senior finance executive with over 20 years’ experienc...
Posted: Sep 24, 2024
Excess and Surplus lines (E&S) have experienced remarkable growth for five straight years by double-digit percentage rates, mainly due to admitted markets pulling back or exiting markets, according to a recent Triple-I report. Analysts noted t...
Posted: Sep 24, 2024
Global Parametrics, a CelsiusPro Group company, has announced the appointment of Harry Titherley as Business Development Director, a London-based role. Titherley brings extensive experience in parametric re/insurance to his new role. He has a stro...
Posted: Sep 24, 2024
International insurance group Ageas has unveiled Elevate27, a new strategic plan for 2025-2027 aimed at enhancing the company’s performance by focusing on profitable growth, technical insurance leadership, operational excellence, and improving cus...
Posted: Sep 24, 2024
Price Forbes Re has announced the appointment of Oliver Waterhouse as Head of Property Facultative (Fac). Waterhouse will be based in the firm’s London office and will report directly to Nikki Melbourne, Head of Facultative at Price Forbes Re. In...
Posted: Sep 24, 2024
Global insurance broker WTW has appointed Parveen Kaur in the newly created role of Global Leader of Operations, Strategy Execution and Data to Neuron, its commercial digital trading solution. This follows WTW’s commitment to advance the sco...
Posted: Sep 24, 2024
Global specialty insurance and reinsurance broker McGill and Partners has revealed it will be expanding into the Nordics with the opening of a new branch office in Sweden. According to the firm, the new branch will be part of its European entity,...
Posted: Sep 24, 2024
Global insurance and reinsurance broker Aon has launched a new catastrophe model to analyse the impact of increasingly costly Severe Convective Storms (SCS) in the US, which the firm says reflects re/insurers “true exposures” to the pe...
Posted: Sep 24, 2024
Berkshire Hathaway Specialty Insurance (BHSI), a provider of commercial property, casualty, and specialty insurance, recently announced the opening of a new office in Milan, appointing Leonardo Castrichino as Country Manager to lead its business i...
Posted: Sep 24, 2024