Reinsurance News
KatRisk, a global catastrophe modelling company, has launched a new Severe Convective Storm (SCS) model to tackle the increasing risks associated with these storms. With SCS events causing $70 billion in insured losses globally in 2023, KatRisk ai...
Posted: Sep 19, 2024
Large US primary insurer Allstate has reported estimated catastrophe losses of $272 million ($215 million after-tax) for the month of August, taking total catastrophe losses for August year-to-date to $3.67 billion ($2.90 billion, after-tax). Cata...
Posted: Sep 19, 2024
HDI Global SE Hong Kong, a subsidiary of industrial insurer HDI Global has appointed Michael Ahn as its Chief Executive Officer (CEO) effective November 1st, 2024. Simultaneously, Daniel Lau moves to a new role as Director, Asia Pacific Network. B...
Posted: Sep 19, 2024
Lloyd’s, the world’s oldest insurance and reinsurance marketplace, has announced that Sir Charles Roxburgh KCB will become its next Chair, effective 1 May, 2025. Roxburgh will be succeeding Bruce Carnegie-Brown, who has held the position since 201...
Posted: Sep 19, 2024
According to a recent report from AM Best, a credit rating agency specialising in the insurance industry, US property and casualty (P/C) mutual insurance companies have used investment income to help cushion the financial impact of weather-related...
Posted: Sep 19, 2024
Privately held insurance brokerage firm Lockton has entered the Colombian reinsurance market as it has received regulatory approval to operate a reinsurance brokerage business in the country. The new venture is expected to bring numerous benefits...
Posted: Sep 19, 2024
INSTANDA, a no-code, digital platform for insurance carriers and managing general agents, has integrated its Life offering with reinsurance giant, Swiss Re’s automated underwriting platform, Magnum, enabling the creation of one ecosystem des...
Posted: Sep 19, 2024
Following meetings with executives at the recently held 2024 Rendez-Vous de Septembre (RVS) in Monte Carlo, KBW has reported that re/insurers are increasingly implementing steadily improving technological tools to identify emerging or future casua...
Posted: Sep 19, 2024
Growth was a key topic for re/insurers at RVS 2024, Will Thompson, Global Head of Clients of Gallagher Re, commented, but this could be challenged when the current strong pricing momentum begins to moderate. Speaking with Reinsurance News at the a...
Posted: Sep 19, 2024
Miller, an independent specialist reinsurance and insurance broker, has announced the appointments of Steven Rance as Head of Reinsurance Strategy & Innovation and Charlotte Lowe as an Account Handler. In his new role, Rance will report to Sha...
Posted: Sep 19, 2024
Broker Insights has announced that six years after its launch, brokers have uploaded £5.5 billion of Gross Written Premium (GWP) to its Vision platform, with a target of reaching £6 billion by the end of the year. Vision will now provide insights...
Posted: Sep 19, 2024
Humanity Insured, a new UK and US non-profit organisation, has launched with the mission of empowering vulnerable communities to become more resilient to the impacts of climate change through the use of effective insurance solutions. Howden, a glo...
Posted: Sep 19, 2024
Rokstone, part of the Aventum Group, has made two key appointments within its recently announced US Casualty division, with Ben Baker joining the team as Deputy Head of US Casualty and Alex Fitzpatrick as a Senior Underwriter. Both appointees are...
Posted: Sep 19, 2024
Global insurer American International Group, Inc. (AIG) has named Keith Walsh as Executive Vice President and Chief Financial Officer, effective October 21st, 2024. Walsh will be based out of New York and reports to AIG Chairman & Chief Execut...
Posted: Sep 19, 2024
Reinsurance trading platform Supercede has revealed a significant upgrade of its platform to provide easy access to risk data and mirror the internal workflow of insurers. According to the firm, this platform update marks a significant milestone i...
Posted: Sep 19, 2024
French reinsurer CCR Re has announced that on January 16th, 2025, its name will officially change to Arundo Re, roughly 18 months after a consortium comprised of SMABTP and MACSF completed the acquisition of a majority shareholding in the firm. Fo...
Posted: Sep 19, 2024
Paris, France-headquartered reinsurer SCOR is hosting a webinar on October 2nd as part of the company’s Live Sessions, during which a panel of top industry executives will explore how the insurance and reinsurance industry is preparing to fa...
Posted: Sep 19, 2024
Insurtech provider Zywave has announced the appointments of Martin Simoncic as Chief Executive Officer (CEO) and Christian Kasper as Executive Vice President (EVP) & Chief Financial Officer (CFO). Zywave is backed by Clearlake Capital Group an...
Posted: Sep 19, 2024
Concirrus, a provider of AI-powered maritime insurance solutions, has entered into a partnership with the 90 North Foundation, in a move that reinforces the company’s dedication to environmental, social, and governance (ESG) principles. As R...
Posted: Sep 19, 2024
Carrick Group Limited, a Bermuda-based international non-life legacy insurer specialising in reinsurance and run-off solutions, announced that its subsidiary, Carrick UK Holdings Company Limited, has reached an agreement with Bristol-Myers Squibb...
Posted: Sep 19, 2024
Majesco, a provider of cloud-based insurance software, has introduced a new AI ecosystem powered by Majesco Copilot, enabling a seamless integration of various industry AI models into Majesco’s solution workflows, starting with a select group of p...
Posted: Sep 19, 2024
Moody’s Ratings has upgraded the insurance financial strength rating (IFSR) of Zurich Insurance Company (ZIC), the main insurance arm of Zurich Group, from Aa3 to Aa2. Additionally, Moody’s has raised Zurich Group’s long-term debt ratings by one n...
Posted: Sep 18, 2024
Global property and casualty insurer Chubb has announced the appointment of Ben McGregor as Head of Property & Terrorism, UK and Ireland. In his new role, he will be responsible for leading, managing and developing the Property and Terrorism p...
Posted: Sep 18, 2024
HDI Global Insurance Company, the US branch of the global commercial insurer HDI Global SE, has launched a new Inland Marine unit as part of its expansion of specialty products and services in the region. Rebecca Molosky will head the Inland Marin...
Posted: Sep 18, 2024
According to credit rating agency AM Best, the US surplus lines market surpassed the $100 billion threshold for the first time in 2023 for direct premiums written (DPW), reaching a record figure of $115.6 billion. In a new report, the agency state...
Posted: Sep 18, 2024