Reinsurance News
Berkshire Hathaway Specialty Insurance (BHSI) has opened an office in Hamburg, naming Thomas Pache to lead its newly launched PI and Cyber Insurance lines in the DACH region, and Kim Schumacher as Senior Property Underwriter. A executive with more...
Posted: Oct 07, 2024
Parametric insurance is key for closing the US$1.8trillion protection gap for communities and countries on the frontlines of interrelated crises, including climate change, according to Generali and the United Nations Development Programme (UNDP)....
Posted: Oct 07, 2024
Broking group Aon has appointed Alejandro Padilla Mariscal as its new Managing Director, Consulting and Science Reinsurance Solutions for Latin America. In the new role, Padilla will lead the catastrophe modelling firm, ERN Evaluación de Riesgos N...
Posted: Oct 07, 2024
With maximum sustained winds of 90 mph, Milton is likely to become a major hurricane later today and is moving “erratically eastward” through the southern Gulf of Mexico, according to the National Hurricane Center (NHC), and reinsuranc...
Posted: Oct 07, 2024
Catastrophe risk modeller CoreLogic has revised its estimate of total insured losses from Hurricane Helene to between $10.5 – $17.5 billion following the inclusion of losses covered by the National Flood Insurance Program (NFIP). According t...
Posted: Oct 07, 2024
DA Strategy, a specialist Delegated Authority consultant and MGA Accelerator, has announced the appointment of Jason Anthony as Associate Director, MGA Advisory and Launch. Anthony brings to his new role over 37 years of experience in the Lloyd’s...
Posted: Oct 07, 2024
UK-based mutual insurer Royal London has announced its entry into the bulk purchase annuity (BPA) market, focusing on BPA transactions of up to £500 million in collaboration with trustees and advisers. To support this initiative, Royal London has...
Posted: Oct 07, 2024
Independent insurance agents’ satisfaction with personal and commercial lines insurers has held strong despite a challenging environment, yet tighter underwriting standards strain their relationship with insurers, a J.D. Power study has foun...
Posted: Oct 04, 2024
Counterpart, an AI-driven management and professional liability insurtech, has added General Liability (GL) insurance to its Miscellaneous Professional Liability (MPL) product line. This new offering broadens coverage for small businesses through...
Posted: Oct 04, 2024
Insurance brokerage firm, Brown & Brown has announced one of its subsidiaries has acquired the assets of The Canopy Group, a multiline insurance agency focusing primarily on personal lines and commercial property and casualty for small busines...
Posted: Oct 04, 2024
Credit rating agency KBRA has upgraded the Insurance Financial Strength Rating (IFSR) to BBB+ and assigns a positive outlook for Nassau Life Insurance Company (NNY), Nassau Life and Annuity Company (NLA), Nassau Life Insurance Company of Kansas (N...
Posted: Oct 04, 2024
Ryan Specialty, an international specialty insurance firm, has announced three leadership appointments within its specialty underwriting segment, Ryan Specialty Underwriting Managers (RSUM). Miles Wuller, President and Chief Executive Officer of R...
Posted: Oct 04, 2024
Verisk, a global data analytics and technology provider, has announced the US launch of its re/insurance platform Whitespace. Whitespace is an all-in-one intuitive platform which enables brokers, underwriters and managing general agents (MGAs) to...
Posted: Oct 04, 2024
French reinsurer SCOR is anticipated to close 2024 with a solid balance sheet, according to Berenberg analysts, who have upgraded the firm to Buy, citing numerous factors. The first reason for the upgrade is that the less severe Q3 2024 hurricane...
Posted: Oct 04, 2024
Africa Specialty Risks Ltd (ASR Ltd), an Africa Specialty Risks entity based in the UK, is to operate as a Lloyd’s service company, underwriting on behalf of ASR Syndicate 2454. According to the re/insurance group, this move will enhance ASR...
Posted: Oct 04, 2024
Berkshire Hathaway Specialty Insurance (BHSI) has promoted Caroline Alder-Smurthwaite to its Global Underwriting Office for Casualty & Healthcare, with Charlotte Behar succeeding her as Head of Casualty, UK. Based in London, Alder-Smurthwaite...
Posted: Oct 04, 2024
AXA Climate, a division of the global insurance group AXA, has launched Altitude, an innovative platform aimed at helping businesses measure the impact of climate risks, create effective adaptation strategies, and comply with the Corporate Sustain...
Posted: Oct 04, 2024
HDI Global Insurance Company, the US subsidiary of international commercial insurer, HDI Global SE (HDI) has announced the appointment of Kashif Syed as Chief Information and Transformation Officer (CITO), a newly developed role. Kashif has been t...
Posted: Oct 04, 2024
The Federation of European Risk Management Associations (FERMA) has urged European Institutions to streamline cyber reporting requirements and consider the insurance implications of cyber-related legislation. The news follows the release of the Cy...
Posted: Oct 04, 2024
Arch Insurance North America, part of Arch Capital Group Ltd., has announced the appointment of Tyler Bair as the new President of Ventus Risk Management (Ventus), a wholly-owned managing general underwriter (MGU). In this role, Bair will lead the...
Posted: Oct 04, 2024
Early insured loss estimates from hurricane Helene currently sit in the mid-single to low-double-digit billions of dollars, however rating agency S&P Global believes that the losses will be an earnings event, rather than a capital event, for t...
Posted: Oct 04, 2024
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