Reinsurance News
Mosaic Insurance now offers customised tailor-made global terrorism and sabotage coverage specifically designed for fine art and specie insureds, with syndicated capacity reaching up to $215 million per risk. Offering coverage for museums, exhibit...
Posted: Sep 18, 2024
Kita, a carbon insurance specialist and Lloyds of London Coverholder, has announced the expansion of its insurance services to support Marex Group Plc’s investment in the Global Mangrove Trust’s (GMT) mangrove restoration project in North Su...
Posted: Sep 18, 2024
Global insurance broker WTW has expanded its Radar software, an insurance rating solution, to enable real-time execution of Python. Radar’s ability to deploy Python in real-time will deliver advantages throughout the insurance process, impac...
Posted: Sep 18, 2024
QBE Europe has announced the promotion of Glenn McCubbin to the new role of Head of Global Network and Multinational Technical Underwriting. McCubbin has been part of QBE Europe for over six years, having joined the company in 2018 as a Multinatio...
Posted: Sep 18, 2024
Duncan Dale, founder and Chief Executive Officer (CEO) of Dale Underwriting Partners, told Reinsurance News that rating is adequate in most of the lines the specialist re/insurance provider operates in, with little room to go backwards as the carr...
Posted: Sep 18, 2024
Specialist financial and commercial lines managing general agent (MGA), Spring Insure, has secured significant new and enhanced A-rated capacity across all its existing product lines following an agreement with hybrid fronting insurer, Bridgehaven...
Posted: Sep 18, 2024
Global reinsurance broker Gallagher Re estimates that the insured losses from the severe floods in central Europe, which occurred mainly from September 12-15, are likely to range between EUR 2.0 to 3.0 billion (USD 2.2 to 3.3 billion). A slow-movi...
Posted: Sep 18, 2024
With 134 buy-ins, the first half of 2024 has seen the largest ever number of buy-in transactions for a six-month period, compared to the 96 buy-ins that were completed during the same period in 2023, a recent analysis by Hymans Robertson has revea...
Posted: Sep 18, 2024
“It appears that the facultative reinsurance might be moving away from a hard market, but there are a number of global events that could happen between September and January which could heavily influence where the market is heading,” UIB CEO Shaun...
Posted: Sep 18, 2024
AM Best has maintained a stable outlook for China’s non-life insurance sector, pointing to factors like a supportive regulatory environment, increased awareness of health insurance, and growth potential in the electric vehicle insurance market. Th...
Posted: Sep 18, 2024
Munich Re North America Life has launched a new longevity reinsurance offering which will reportedly allow clients to accumulate assets while transferring biometric risk. Munich Re North America Life includes Munich Re Life US and Munich Re, Canad...
Posted: Sep 18, 2024
According to Goldman Sachs, the market backdrop for property & casualty (P&C) reinsurance remains favourable, following rates hardening following the impact of Hurricane Ian, and 2023 seeing the strongest subsector return on equity’s...
Posted: Sep 18, 2024
Vortex Weather Insurance, a parametric weather insurtech, has announced an increased available limit of $500,000 for its parametric hurricane insurance, available to businesses along the Atlantic and Gulf Coasts. This type of insurance provides su...
Posted: Sep 18, 2024
Tracy Lee Kus, Head of Aon’s London-based Global Broking Centre, has joined the London Market Group (LMG) board as a representative of London & International Insurance Brokers’ Association (LIIBA). Kus, who has over three decades of experience...
Posted: Sep 18, 2024
The London-domiciled global speciality distributor Amwins, has named Nick Abraham to succeed Nathan Mathis as Chief Executive Officer of its specialty distributor, Amwins Global Risks effective January 1st, 2025. Mathis, who has served in several...
Posted: Sep 18, 2024
In a recent trading update, B.P. Marsh & Partners, the specialist investor in early stage financial services businesses, has revealed that as of July 31st, 2024 it had cash of £80.2 million. The firm also revealed that the current cash and tre...
Posted: Sep 18, 2024
Altea Insurance (Altea), a provider of combined insurance and risk management services for the medical, allied health, and care sectors, has announced its expansion into the European Economic Area (EEA). Launched last summer under the leadership o...
Posted: Sep 18, 2024
Moody’s RMS Event Response has disclosed an estimate for US private market insured losses from Hurricane Francine, which made landfall in Terrebonne Parish, Louisiana, on September 11th, 2024, of less than $2 billion. This estimate includes onshor...
Posted: Sep 18, 2024
IQUW, a property and specialty insurer and reinsurer, has appointed Peter Hearn as an Independent Non-Executive Director to the IQUW Holdings Bermuda Board. Hearn is an industry veteran with over four decades of experience in the global insurance...
Posted: Sep 18, 2024
Marsh McLennan Agency, a subsidiary of Marsh, has appointed Kristof De Bremme as Chief Executive Officer (CEO) and President of Marsh McLennan, Belgium and Luxembourg, based in Brussels He succeeds Rebecca Tielemans and will report to Christos Ada...
Posted: Sep 18, 2024
AM Best, the global credit rating agency, has revised its outlook on Taiwan’s non-life insurance segment to stable from negative, following a recovery of capital strength among carriers in 2023 after suffering sizeable pandemic-related losses in t...
Posted: Sep 18, 2024
Recent data from the International Underwriting Association (IUA) shows that overall premium income for the London company market increased by approximately 10% in 2023, reaching £48.4 billion. This figure includes nearly £43 billion underwritten...
Posted: Sep 18, 2024
HDI Global, a provider of industrial insurance solutions, is addressing the rapid changes in the energy sector by creating a comprehensive Energy Unit, consolidating its expertise in managing energy-related risks. This move allows the company to s...
Posted: Sep 18, 2024
IBM, a technology company, has filed an 8-K report outlining the transfer of a portion of its US defined benefit pension plan obligations to The Prudential Insurance Company of America, a provider of insurance and financial services. In recent yea...
Posted: Sep 18, 2024
Large Italian insurer Generali has agreed to sell its Turkish operation as part of its “Lifetime Partner 24: Driving Growth” strategic plan, with Kiler Holding A.Ş. and Arex Yatırım Holding A.Ş. taking a 42% and 48% stake of the business, respecti...
Posted: Sep 17, 2024