Reinsurance News
As per Gallagher Re’s biannual Reinsurance Market Report, the global reinsurance industry’s underlying ROE was above the cost of capital for the second consecutive year in 2023, improving to 14.3% from 12% in 2022, mainly due to lower combin...
Posted: Apr 08, 2024
The Federal National Mortgage Association (Fannie Mae) has executed two new Credit Insurance Risk Transfer (CIRT) transactions transferring $709 million of mortgage credit risk to private insurers and reinsurers. Rob Schaefer, Vice President, Capi...
Posted: Apr 08, 2024
The Centre for Disaster Protection has been selected as the Coordinator for the Technical Advisory Group (TAG) of the Global Shield against Climate Risks. According to the announcement, the Centre will collaborate with a group of experts supportin...
Posted: Apr 08, 2024
Malakut, an international group of re/insurance brokers, has recently appointed Sogo Yasuda as the Chief Commercial Officer (CCO) of Japanese Business, a newly established department aimed at integrating Japanese insurance brokerage services globa...
Posted: Apr 08, 2024
Toronto-based specialty insurer and part of reinsurer Munich Re, HSB Canada, has appointed Barbara Bellissimo as its new President and Chief Executive Officer (CEO), effective April 1st, 2024. She succeeds John Mulvihill, who has retired after a s...
Posted: Apr 08, 2024
In their results for the full-year 2023, Conifer Holdings has reported a 4.2% increase in gross written premium (GWP), as it reached $143.8 million, compared to the previous year’s $138 million. Net written premiums however, saw a 24.7% decl...
Posted: Apr 08, 2024
Commercial rates in the US went up 3.9% on all property and casualty placements in the first quarter of 2024, a notable decline compared to the plus 5.6% in Q4 2023, while personal insurance rates held steady at plus 4.75% in the period, according...
Posted: Apr 05, 2024
ACORD, the standards-setting body for the global insurance industry, has announced the latest enhancements to its Global Reinsurance & Large Commercial (GRLC) ePlacing Implementation Guide. The newly released GRLC ePlacing Implementation Guide...
Posted: Apr 05, 2024
Great American Insurance Group has announced the promotions of Jonathan M. Goldman to the role of Divisional President, Strategic Comp; and Kenneth R. Nieberding, to Divisional President, Great American Risk Solutions, both effective July 1, 2024....
Posted: Apr 05, 2024
Arch Insurance North America, part of Arch Capital Group Ltd., has entered into a master transaction agreement to acquire the US MidCorp and Entertainment insurance businesses – which includes select specialty insurance programs – fro...
Posted: Apr 05, 2024
Aon’s latest weekly catastrophe report predicts that the recent multi-hazard weather system, which affected the continental United States from March 29th to April 5th, may result in economic and insured losses totaling hundreds of millions o...
Posted: Apr 05, 2024
In their latest trading update, Rothesay, a prominent UK pensions insurance specialist, completed de-risking transactions with twelve pension schemes during 2023, resulting in new business premiums of £12.7 billion, a substantial increase from £3....
Posted: Apr 05, 2024
The outcome of the Japan casualty reinsurance renewals at April 1st were predominantly stable or favourable, with some sellers pulling back from certain lines as others adopted a more positive approach, according to Gallagher Re. In Gallagher Re’s...
Posted: Apr 05, 2024
Standard Insurance Company (The Standard)has announced the appointment of Lauren Canfield as vice president, corporate actuary and chief risk officer, succeeding Sally Manafi who is retiring. Canfield, who is taking over her new role April 1, 2024...
Posted: Apr 05, 2024
Windward Risk Managers, the management company behind Florida Peninsula and Edison Insurance, is bringing additional capital and capacity to the Florida market with the launch of Ovation Home Insurance Exchange. Scheduled to begin writing policies...
Posted: Apr 05, 2024
Insurtech Novidea is further strengthening its global leadership team with the appointment of Betterview and Groundspeed Analytics executive Jeff Heine as Chief Revenue Officer (CRO). In his new role, Heine will be in charge of driving global reve...
Posted: Apr 05, 2024
Acrisure, the global Fintech company has announced the formation of its Midwest Region, to be led by Tina Semotan as Managing Partner. According to the announcement, the new region comprises businesses in Illinois, Iowa, Kansas, Minnesota, Missour...
Posted: Apr 05, 2024
According to Aon, the deadly magnitude-7.4 earthquake that struck eastern Taiwan on April 3 is likely to result in a notable event for the local insurance industry due to relatively high take-up rates. The quake is reportedly the island’s la...
Posted: Apr 05, 2024
Deflation pressure in China is easing, but there is little upside to come according to the Swiss Re Institute, as its forecasts low inflation for the country in 2024, which should contribute to the global disinflation process and support insurance...
Posted: Apr 05, 2024
Conifer Holdings, Inc. has announced the commencement of a capacity relationship with data-driven risk exchange Accelerant. Conifer explained that by leveraging Accelerant’s Risk Exchange, it aims to improve risk assessment and thus enhance...
Posted: Apr 05, 2024
Applied Surety Underwriters (ASU), a subsidiary of Applied Underwriters’ United Risk division, is set to acquire the majority of Argo Surety group’s in-force coal, oil, gas, and mining business. According to ASU, it will immediately as...
Posted: Apr 05, 2024
Fortitude Re has appointed Jamie Schmerer as SVP, Enterprise Risk, where he will lead the firm’s regulatory relations efforts in Bermuda and oversee its enterprise risk management framework, including risk governance, risk appetite, and risk...
Posted: Apr 05, 2024
Aon, the global insurance and reinsurance broker, has appointed Uri Dallal as the firm’s New York City market leader, effective immediately. He will report to Christine Williams, Northeast region leader at Aon. In the new role, Dallal will oversee...
Posted: Apr 05, 2024
Japan property catastrophe demand was marginally down year-on-year at the April 1st, 2024, reinsurance renewals, while some increases in retentions were offset by a small amount of additional capacity purchased, reports Gallagher Re. In the reinsu...
Posted: Apr 05, 2024
Berkshire Hathaway Specialty Insurance (BHSI) has announced the promotion of Ingo Lorber to Head of Claims for Germany, Austria, and Switzerland (DACH). Andreas Krause, Head of DACH at BHSI, emphasises the company’s dedication to providing o...
Posted: Apr 05, 2024