Reinsurance News
Insurance industry intermediary Specialist Risk Group (SRG) has announced the completion of the transaction for the majority of its shares to be acquired by global growth investor, Warburg Pincus, and Temasek, a global investment company headquart...
Posted: Sep 30, 2024
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Henry Nelson as Chief Underwriting Officer (CUO) for the UK & MENA region, effective January 1, 2025. According to the announcement, Nelson will begin trans...
Posted: Sep 30, 2024
Hurricane Helene, which struck Florida on September 26, 2024, has caused significant damage and could lead to substantial losses for property and casualty (P&C) re/insurers, particularly in the homeowners and commercial property sectors, accor...
Posted: Sep 30, 2024
Marsh McLennan, the global insurance and reinsurance broker, has reached an agreement through its subsidiary, Marsh McLennan Agency to acquire full-service insurance brokerage, McGriff Insurance Services, LLC, for a cash consideration of $7.75 bil...
Posted: Sep 30, 2024
Specialty MGA Africa & Middle East, a new provider of tailored insurance and reinsurance solutions, has opened an office in Casablanca following approval from the Moroccan Minister of Finance. This new office aims to offer the region increased...
Posted: Sep 30, 2024
With the re/insurance industry returning to profitability and many firms achieving record results in 2024, there’s reason for optimism. However, key challenges like high inflation, climate change, and geopolitical instability persist, according to...
Posted: Sep 30, 2024
Miller, an independent re/insurance broker, has announced the appointment of David Randle as Head of Commercial Business Development for its Sports and Entertainment division, who will report to Tim Nagle, Head of Sports at Miller. With over 40 ye...
Posted: Sep 30, 2024
After Hurricane Helene, a Category 4 storm with 140 mph winds made landfall in Florida’s Big Bend on Thursday evening, reviving the quiet hurricane season, analysts at Moody’s have placed the total property damage at between $15 billion and...
Posted: Sep 30, 2024
Following hurricane Helene’s landfall last week as a Cat 4 storm on the Big Bend area of Florida, Steve Bowen, Chief Science Officer at reinsurance broker Gallagher Re, has said that economic losses will be well above $10 billion and that th...
Posted: Sep 30, 2024
Liberty Mutual Insurance’s Tim Sweeney, President and Chief Executive Officer (CEO), has announced that Jeff Dailey, formerly Chairman, President and CEO of Farmers Group, Inc., and Linda Mantia, formerly Senior Executive Vice President and...
Posted: Sep 30, 2024
Insurance industry wind and storm surge losses from the impacts of hurricane Helene, the most powerful storm to hit the Big Bind region of Florida, have been estimated at between $3 billion and $5 billion by catastrophe risk modeller, CoreLogic. H...
Posted: Sep 30, 2024
Global Atlantic Financial Group, an insurance provider specialising in retirement and life insurance for both individuals and institutions, has announced the immediate appointment of Emily LeMay as Chief Operations Officer and Jason Bickler as Chi...
Posted: Sep 30, 2024
Sollers, a consulting firm specialising in digital transformation, and Ipsos, a market research company, have recently conducted a survey that highlights how banks are not fully leveraging the potential of bancassurance. According to their finding...
Posted: Sep 30, 2024
RT Specialty, the wholesale distribution division of Ryan Specialty, has restructured its leadership team with senior appointments effective October 1st, 2024. Seth Johnson will become the Chief Executive Officer (CEO) of RT Binding Authority. He...
Posted: Sep 30, 2024
Bishop Street Underwriters, the multi-boutique insurance platform owned by RedBird Capital Partners, has announced that it has made a strategic equity investment in Verve Services, a full-service auto insurance managing general agency (MGA). This...
Posted: Sep 27, 2024
The importance of working with local re/insurers in CEE countries like Poland is crucial to improve capacity, especially with big infrastructure and energy projects ahead, Tomasz Libront, CEO of Smartt Re, commented in a recent interview with Rein...
Posted: Sep 27, 2024
Amphitrite Underwriting London, a specialist in marine MGA, has announced the appointment of Fadi Faysal as Cargo Underwriter. Faysal, who will be working with Scott Sykes, Head of Cargo, brings over 15 years of extensive global experience in both...
Posted: Sep 27, 2024
US life/annuity (L/A) insurers have doubled their ceded reserves to $1.74 trillion between 2016 and 2023 driven by strong annuity growth on higher interest rates with an increasingly larger portion headed offshore, an AM Best report has disclosed....
Posted: Sep 27, 2024
Euclid Mortgage, an independent managing general underwriter specialising in mortgage (re)insurance, has appointed Ken Bjurstrom as Chief Risk Officer, bringing over 35 years of expertise in mortgage risk analytics and advisory services to his new...
Posted: Sep 27, 2024
FloodFlash’s UK clients with parametric coverage have been promptly notified that their claims are in progress following recent rainfall-related floods, ensuring a seamless claims process. Clients benefit from FloodFlash’s accurate flood readings...
Posted: Sep 27, 2024
Guidewire, a provider of software solutions for the property and casualty (P&C) insurance industry, announced that Mark Anquillare has been appointed to its Board of Directors, effective September 23, 2024. Michael Zeller, Chairman of the Boar...
Posted: Sep 27, 2024
Broking group Aon has revealed a market loss estimate for the Central Europe Flooding in September 2024, caused by Storm Boris, of €1.65 billion. According to the firm’s Event Response report, the deadly flooding resulted from an extreme amo...
Posted: Sep 27, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has appointed Mark Flanagan as the Head of Property & Casualty, Bermuda, reporting to Noel Pearman, Chief Underwriting Officer, Bermuda within AXA...
Posted: Sep 27, 2024
Antimicrobial resistance (AMR), referred to as “the silent pandemic” by World Health Organisation (WHO), is an evolving risk with the potential to severely disrupt healthcare systems worldwide; a challenge that needs increased awareness and...
Posted: Sep 27, 2024
Generali Global Corporate & Commercial (GC&C), a subsidiary of the Italian insurance giant, has appointed Winnie Chu as Head of Financial Lines Underwriting, Asia, and Joshua Lynch as Head of Business Development, Asia, both effective Sept...
Posted: Sep 27, 2024