Reinsurance News
Carbon Underwriting, an independent managing general underwriter, estimates nearly £400 million in gross written premiums (GWP) under management in 2025 from its Syndicate 4747 and its newly launched Syndicate 5757. The launch of Syndicate 5757, t...
Posted: Sep 13, 2024
Zurich North America, the commercial property and casualty insurer, has promoted Arooran “Aroo” Sivasubramaniam to Head of Zurich Resilience Solutions (ZRS) for North America, effective immediately. In his new role, Sivasubramaniam wil...
Posted: Sep 13, 2024
According to AM Best, domestic and international reinsurers will bear the bulk of losses caused by Typhoon Yagi on Vietnam insurance companies, which can further result in reinsurers’ appetite for regional catastrophe risks being tested at the upc...
Posted: Sep 13, 2024
The Bermuda Monetary Authority (BMA), the island’s regulatory body for financial services, has released its annual Bermuda Cyber Underwriting Report, showcasing a significant 63.7% increase in cyber insurance gross written premiums, which re...
Posted: Sep 13, 2024
Concirrus, a provider of AI-powered marine insurance intelligence, has partnered with Hellenic Hull Management (HMA) to improve and streamline HMA’s underwriting operations. The marine insurance industry faces challenges in modernising its practic...
Posted: Sep 13, 2024
According to ratings agency AM Best, the workers’ compensation (WC) segment is continuing to outperform every other lines of business in the US property & casualty (P&C) sector, reinforced by ongoing declines in loss frequency and fa...
Posted: Sep 13, 2024
Arizona-domiciled surplus lines insurance carrier, AM Specialty Insurance Company (ASIC), will serve as an underwriting partner for Once Insurance’s entry into the jewellery insurance market. This partnership marks a significant milestone in simpl...
Posted: Sep 13, 2024
Life insurer and asset manager Aegon has appointed Michele Bareggi as Chief Strategy, Transformation and Growth Officer, and member of Aegon’s Executive Committee, starting November 1, 2024. The executive is succeeding Duncan Russell, who took on...
Posted: Sep 13, 2024
Miller, an independent specialist reinsurance and insurance broker, has announced the appointment of Andrew Gordon to its Marine team. Gordon’s arrival marks another key step in expanding Miller’s Marine capabilities, following several senio...
Posted: Sep 13, 2024
Guy Carpenter, a global risk and reinsurance specialist, highlights that in the second quarter of 2024, there was a significant increase in demand for peak peril retrocession (retro) coverage and cat on direct and facultative (D&F) limit acros...
Posted: Sep 13, 2024
Analysts at RBC Capital Markets expect Hurricane Francine to be a highly manageable loss event for the P&C insurance industry, most likely in the very low billions, with a minimal impact to reinsurers. On September 11th, Francine made landfall...
Posted: Sep 13, 2024
Hurricane Francine, the sixth named storm of the Atlantic hurricane season, made landfall over coastal Louisiana on September 11th as a Category 2 storm, and is expected to drive insurance industry wind and storm surge losses of up to $1.5 billion...
Posted: Sep 13, 2024
Cytora, a digital risk processing platform, has partnered with Mitiga Solutions, a provider of science-based climate risk intelligence, to offer insurers enhanced insights into their climate risk exposure, enabling more informed decision-making. I...
Posted: Sep 13, 2024
Pro MGA Global Solutions, the independent managing general agent (MGA) incubation arm of Pro Global, an advisor in the specialist insurance industry, has hired Haris Khan as its new Head of Solutions and Markets, effective November 1, 2024. Haris...
Posted: Sep 13, 2024
UK-domiciled, digital managing general agent (MGA) Ripe has appointed Alan Thomas as Chief Executive Officer (CEO) to usher in the company’s next growth phase, subject to regulatory approval. Thomas succeeds Paul Williams, who, after almost...
Posted: Sep 13, 2024
Michigan-domiciled property and casualty holding company Conifer Holdings has announced that as of August 30th, 2024, it completed the sale of its insurance agency operations for $45 million, subject to transaction expenses and customary purchase...
Posted: Sep 13, 2024
Parametric insurtech CelsiusPro and Tower, a New Zealand and Pacific insurer, have successfully launched the previously announced IT platform for parametric insurance distribution for Tower, beginning with its Cyclone Response Cover in the Pacific...
Posted: Sep 12, 2024
Davies, the specialist in professional services and technology, has appointed Paul O’Brien as its first Group Chief Artificial Intelligence (AI) Officer. This appointment comes as the firm makes significant investments to leverage innovation and c...
Posted: Sep 12, 2024
Independent insurance broker The Ardonagh Group, has hired renowned industry veteran Mark Mitchell to support the expansion of its business operations in Asia. Based in Singapore, Mitchell will work with Ardonagh’s businesses in the region –...
Posted: Sep 12, 2024
Core Specialty Insurance Holdings and its subsidiaries have announced the expansion of its surety offerings by entering the contract surety market. The firm’s new Surety division, part of its Bond, Credit & Guarantee subsegment, was establishe...
Posted: Sep 12, 2024
French reinsurer SCOR has announced that after nine years of service as Chief Executive Officer (CEO) of SCOR Life and Health (L&H), US and 40 years working in the industry, J.C. Brueckner has decided to retire at the end of this year. Brock R...
Posted: Sep 12, 2024
PURE Insurance, a US-based property and casualty insurer, is expanding into Canada with a new office in Toronto that will begin offering its unique reciprocal model to high-net-worth homeowners in Ontario. PURE will provide coverage for affluent h...
Posted: Sep 12, 2024
Lloyd’s, the world’s oldest insurance and reinsurance marketplace, is planning to introduce a series of changes to modernise and streamline how it addresses misconduct and problematic behaviours in the market, including both financial and no...
Posted: Sep 12, 2024
Moody’s Ratings has revised its outlook for the UK property & casualty (P&C) sector to stable from negative, which the agency attributes towards P&C personal lines cover, such as motor insurance, rising sufficiently to absorb cla...
Posted: Sep 12, 2024
Global insurance broker WTW has appointed Adrian Ruiz as Head of FINEX GB Cyber & TMT, succeeding Glyn Thoms, who will assume the newly created role of Global Cyber Strategic Development Leader. In his new position, Ruiz will report to Marcus...
Posted: Sep 12, 2024