Reinsurance News
According to AM Best, the US property & casualty (P&C) industry recorded a $3.8 billion net underwriting gain in the first six months of 2024, a major improvement from the $24 billion loss reported in the previous year. The agency stated t...
Posted: Sep 17, 2024
MSIG USA, an insurance subsidiary under MSIG Holdings, has announced the appointment of Mark Thorogood as its new Head of Reinsurance. In his new role, Thorogood will be responsible for leading the company’s reinsurance strategy, encompassin...
Posted: Sep 17, 2024
The Awbury Group and Polo Managing Agency Limited have confirmed that Lloyd’s has granted “in principle” approval for Awbury Syndicate 2025 to commence underwriting from January 1st, 2025. The syndicate will be managed by Polo Managing Agency Limi...
Posted: Sep 17, 2024
Vantage Group Holdings Ltd., a provider of insurance and reinsurance solutions, has announced the promotion of Lila Granda to Head of Political Risk and Credit (PRC). Effective immediately, Granda will join the group’s Insurance leadership t...
Posted: Sep 17, 2024
RBC Capital Markets, the investment banking arm of Royal Bank of Canada, provides a comprehensive analysis of the Monte Carlo RVS 2024, highlighting that reinsurers are steadfastly maintaining their position in renewal negotiations. Following a pe...
Posted: Sep 17, 2024
69% of underwriters and 67% of actuaries are concerned about being replaced by artificial intelligence (AI) in the next five years, according to research from hyperexponential, the pricing platform for global re/insurers. A recent study by the fir...
Posted: Sep 17, 2024
Global specialty underwriter and provider of re/insurance, AXIS Capital Holdings Limited, has announced the appointment of Sara Mitchell as its future Head of Global Markets, succeeding Mark Gregory who will retire from the company in March of 202...
Posted: Sep 17, 2024
There are numerous issues from the soft market era that have not been addressed in the current market, and until they’ve been properly attended to, the re/insurance industry is going to end up where it started, according to Group CEO and CUO of Co...
Posted: Sep 17, 2024
Amwins Special Risk Underwriters (SRU) has enhanced its Excess D&O offering with the addition of a new carrier that holds a dedicated focus on Excess D&O specialty programs. The new carrier is recognized as a major specialty insurer, rated...
Posted: Sep 17, 2024
Bermuda-based global specialty insurance company Ascot Group Limited has revealed that Kewsong Lee, the Founder and CEO of BellTower Partners, will be appointed Chairman of the Ascot Board of Directors. Lee will succeed Neill Currie, Ascot’s...
Posted: Sep 17, 2024
Aon, the global re/insurance broking group, has appointed Mona Barnes as Global Chief Claims Officer, effective immediately, reporting to Joe Peiser, Chief Executive Officer (CEO) of Commercial Risk. As Global Chief Claims Officer, Barnes will be...
Posted: Sep 17, 2024
Specialist insurance provider CFC has developed a new insurance policy, first deployed with Standard Chartered Bank, designed to cover commercial loans to carbon credit projects. “In a true first for both the insurance and carbon finance mar...
Posted: Sep 17, 2024
The Bermuda life reinsurance market has expanded rapidly in recent times, and in 2024 alone, the Bermuda Monetary Authority (BMA) has licensed an additional seven new players, while both existing and new entities have looked to innovate and refine...
Posted: Sep 17, 2024
mea, a GenAI-powered global platform for insurers, has announced that Swiss Re has selected its platform to enhance its insurance and reinsurance operations, strengthening their existing partnership. This expanded partnership builds on their succe...
Posted: Sep 17, 2024
According to a recent Moody’s Ratings report, property and casualty (P&C) insurers are expected to absorb most of the losses from Hurricane Francine, which made landfall in Terrebonne Parish, Louisiana, on September 11, 2024. Hurricane Francin...
Posted: Sep 17, 2024
Guy Carpenter, the reinsurance broking division of Marsh McLennan, has announced the appointment of Heather Legg as Managing Director (MD) of its Canadian broking team. In her new role, Legg will be based in the firm’s Toronto, Canada office...
Posted: Sep 17, 2024
Price Forbes Re, an independent specialist risk strategy and reinsurance broker, is expanding its facultative team across all product lines with the appointments of Fred Few Brown and Jonathan Gerken. In his new role, based in London, Few Brown wi...
Posted: Sep 17, 2024
Everest Insurance, the insurance division of Bermuda-domiciled insurer and reinsurer, Everest Group, has established a new brand called Everest Evolution for its fast-growing US Wholesale business. The move was driven by an established demand for...
Posted: Sep 17, 2024
Global insurance intermediary group Howden has launched into the Japanese retail insurance broking and captive consulting and management markets with the acquisition of Foresight Holdings Co. Ltd, appointing Takuya Aibe as CEO of its Japanese reta...
Posted: Sep 17, 2024
The Insurance Council of Australia (ICA) has appointed Steve Johnston, Suncorp’s Chief Executive Officer and Managing Director, as Chair of the ICA Board, effective January 1st, 2025. Johnston joined the ICA Board as a Director in August 202...
Posted: Sep 17, 2024
One of the biggest challenges currently facing the Asian re/insurance market is the substantial protection gaps, particularly for natural catastrophes, according to Franz-Josef Hahn, Chief Executive Officer of Peak Re. Reinsurance News spoke to Ha...
Posted: Sep 17, 2024
Brit Ltd, the global specialty insurer and reinsurer, has expanded its Private Client team with the appointments of Vijay Mithal, Billy Lynch and Chris Lewis. They each bring a deep degree of experience within the High Net Worth (HNW) market along...
Posted: Sep 17, 2024
Broadstone’s latest Insurance Risk Monitor suggests that the CrowdStrike event challenges the cyber insurance market’s conventional focus on malicious actors, highlighting an opportunity to offer more comprehensive coverage for non-mal...
Posted: Sep 17, 2024
Fitch Ratings, the credit rating agency, has reported that reinsurers will likely push for double-digit increases in US casualty premium rates during policy renewals in January 2025, as companies look to keep pace with elevated loss costs. This ad...
Posted: Sep 16, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has promoted Anthony Lamb to Global Underwriting Manager, Marine, as part of the firm’s Global Chief Underwriting Office. An experienced veteran...
Posted: Sep 16, 2024