Reinsurance News
Digital risk processing platform Cytora has partnered with international weather information and data management company Pelmorex Corp to provide commercial property underwriters with deeper insights into climate-related risks. Through its integra...
Posted: Dec 12, 2024
Ki will operate as a standalone company within the Fairfax Group starting January 1, 2025, according to an announcement by Brit Ltd., a global specialty re/insurer and a subsidiary of Fairfax Financial Holdings Limited. Ki was incubated and launch...
Posted: Dec 12, 2024
French reinsurer SCOR has confirmed its core targets over 2025-2026, maintaining a return on equity (ROE) assumption above 12% for the period, while its Group reserve adequacy has been confirmed by external independent reviewers. SCOR presented it...
Posted: Dec 12, 2024
In the first nine months of 2024, US life/annuity total income was up 5.3% from the previous year, primarily due to increases of 13.7% in premiums and annuity considerations, as well as a 9.6% rise in net investment income, according to global cre...
Posted: Dec 12, 2024
The UK arm of global insurer Zurich has announced the appointment of Drazen Jaksic as CEO of Zurich UK, succeeding Tim Bailey, who has served as CEO, Zurich UK since January 1, 2021. Alison Martin, CEO EMEA & Bank Distribution, said, “We are d...
Posted: Dec 12, 2024
Kita, the carbon insurance specialist and Lloyd’s of London coverholder, has launched its full-spectrum Active Risk Monitoring services for the carbon markets. The firm has been providing these services since March 2024 to select stakeholders and...
Posted: Dec 12, 2024
Following a series of meetings with senior insurance industry executives in Bermuda, TD Cowen analysts reported that pricing at January 1st for property catastrophe reinsurance is likely to be flat or decline by as much as 10%. This prediction com...
Posted: Dec 11, 2024
The three main operating subsidiaries of Bermuda-based Fortitude Reinsurance Company Ltd. (Fortitude Re) have been assigned A3 Insurance Financial Strength Ratings by Moody’s, with a stable outlook. The rating actions concern Fortitude Reins...
Posted: Dec 11, 2024
Global re/insurance broker WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS), US commercial insurance rates climbed by 6.1% during the third quarter of 2024, Based on the firm’s CLIPS for Q3’24, the collective commer...
Posted: Dec 11, 2024
Specialty insurance carrier Relm Insurance has officially launched its own managing general agent (MGA) in the US, licensed in all 50 states with locations in Miami, New York and Pennsylvania. It’s worth highlighting that Relm is the first...
Posted: Dec 11, 2024
InsurTech company Zhibao Technology announced the launch of the Longevity Risk Lab (LRL) based in Shanghai during its first Longevity Risk Conference on December 8, 2024. The LRL will be co-managed by Zhibao, the Shanghai International Reinsurance...
Posted: Dec 11, 2024
The Centre for Disaster Protection, an organisation focused on helping countries and humanitarian agencies better prepare for and respond to natural disasters through innovative financing solutions, has announced the appointment of Cristina Stefan...
Posted: Dec 11, 2024
Aon plc, a global professional services firm, has announced that the trend of UK bulk annuity insurers expanding member options and offering access to independent financial advisers (IFAs) at retirement will continue to grow throughout 2025. In re...
Posted: Dec 11, 2024
Aon plc, a global professional services firm, has announced that the trend of UK bulk annuity insurers expanding member options and offering access to independent financial advisers (IFAs) at retirement will continue to grow throughout 2025. In re...
Posted: Dec 11, 2024
MetLife, Inc. and General Atlantic have revealed the formation of Chariot Reinsurance, Ltd. (Chariot Re), a to-be-registered Class E Bermuda-based life and annuity reinsurance company. Cynthia Smith, a 30-year veteran of MetLife, is expected to le...
Posted: Dec 11, 2024
The Talanx Group, the parent company of large European reinsurer Hannover Re, has set a number of new targets for the period to 2027 as the company is set to exceed its 2025 targets a year early. In light of the recent strong performance, the fina...
Posted: Dec 11, 2024
Duck Creek Technologies, a provider of software solutions for property and casualty (P&C) and general insurance, has appointed three industry veterans to its senior global leadership team to fuel its growth and transformation. William Magowan...
Posted: Dec 11, 2024
Amwins Global Risks, the international arm of global specialty insurance broker Amwins, has appointed Gabriel Ewing as Head of its new Transactional Risk practice in London. Ewing is a market veteran with almost two decades of legal and M&A ex...
Posted: Dec 11, 2024
African and Middle East focused re/insurance group Africa Specialty Risks (ASR), has announced that its Middle Eastern and Mauritian subsidiaries, Africa Specialty Risks Mauritius and ASR Middle East Limited, have agreed Binding Authority Agreemen...
Posted: Dec 11, 2024
Specialty MGA Optio Group has advanced its European expansion by completing a strategic investment in the Italian MGA Heca S.r.l., following regulatory approval. Founded in 2010 in Ortona, province of Chieti in Abruzzo, Heca has rapidly grown to b...
Posted: Dec 11, 2024
The global economy could be exposed to potential losses of $13.6 trillion over a five-year period from the threat of a hypothetical future human pandemic, according to systemic risk scenario research from Lloyd’s. Produced in partnership wit...
Posted: Dec 11, 2024
Ratings agency, AM Best has upgraded the Financial Strength Rating (FSR) of Assicurazioni Generali S.p.A. (Generali) (Italy) and its main rated subsidiaries to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR...
Posted: Dec 11, 2024
Allianz Life Insurance Company of North America (Allianz Life) has partnered with retirement plan provider, Empower, to provide its in-plan annuity solution. Allianz Lifetime Income+ will be the first fixed index annuity on Empower’s platform and...
Posted: Dec 11, 2024
Nearly half (46%) of insurance data leaders fear that failing to adopt artificial intelligence (AI) will leave them at a competitive disadvantage, according to a report by Ataccama. The report revealed that while 74% of organisations have implemen...
Posted: Dec 11, 2024
Nippon Life Insurance Company has agreed to consolidate its ownership interest in Resolution Life by acquiring the remaining shares from the firm’s investment limited partnership for $8.2 billion. The transaction values Resolution Life at $10.6 bi...
Posted: Dec 11, 2024