Reinsurance News
Gallagher has launched a new business in Bermuda to provide specialty insurance solutions, aiming to expand its presence and capitalise on growth opportunities. Gallagher already has a strong client base in Bermuda, alongside its treaty reinsuranc...
Posted: Sep 12, 2024
The construction insurance market is experiencing a notable increase in capacity, reaching levels last seen in 2019, according to the newly released Global Construction Rate Trend Report by WTW, a global insurance broker. This expansion is anticip...
Posted: Sep 12, 2024
Pension Insurance Corporation plc (PIC), the specialist insurer of UK defined benefit pension schemes, has reported its financial results for the first half of 2024, posting an adjusted operating profit before tax (AOPBT) of £272 million, compared...
Posted: Sep 12, 2024
Ryan Specialty, the international specialty insurer, has appointed Michael F. Albian as President, Group Captives, for Ryan Alternative Risk (RAR). In the new role, Albian will be responsible for further developing a full-service consulting and ca...
Posted: Sep 12, 2024
EuroTempest, a provider of storm and weather risk management services in Europe for the re/insurance industry, has announced the launch of its Global Weather Validation tool, designed to help insurers validate weather-related claims worldwide with...
Posted: Sep 12, 2024
According to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ), the Calgary hailstorm during early August has resulted in nearly $2.8 billion in insured losses, making it the second-costliest event in Canada’s histor...
Posted: Sep 12, 2024
Fidelis Insurance Group, the global specialty insurer, has appointed 20-year industry veteran Jason Kittinger as Group Chief Operating Officer. Kittinger, who is based in London, will report to Fidelis Insurance Group’s Chief Executive Officer, Da...
Posted: Sep 12, 2024
Demex, the risk analytics and intelligence firm offering reinsurance solutions for severe convective storms, has created a new Advisory Board comprising seasoned insurance executives, John DeMartini, Alastair Speare-Cole and Matthias Weber. The an...
Posted: Sep 12, 2024
Tom Davison has joined Horwich Farrelly (HF), legal advisers in the insurance and commercial sectors, as Partner & Head of Property, Risks, and Coverage. In his new role, and part of the firm’s continued expansion, Davison will head the growin...
Posted: Sep 12, 2024
AdvantageGo, a provider of commercial insurance and reinsurance software and part of Coforge, has entered into a new partnership with Ping Data Intelligence (Ping), an insurance technology firm known for its AI-powered data ingestion, cleansing, a...
Posted: Sep 12, 2024
Alera Group, a US insurance and financial services firm, has announced the appointment of Jim Blue, its current president, to the role of Chief Executive Officer, effective January 1, 2025. Blue will succeed Alan Levitz, who will become Alera Grou...
Posted: Sep 12, 2024
Following the release of the European Union Climate Resilience Dialogue report, The Federation of European Risk Management Associations (FERMA) has called on the European commission to establish an Expert Group on Protection Gaps. This aligns with...
Posted: Sep 12, 2024
Berkshire Hathaway Specialty Insurance (BHSI), a division of Berkshire Hathaway, specialising in providing a range of insurance and reinsurance products, has announced the appointment of Andrew Knight as Country Manager, Amanda Sorsak as Head of C...
Posted: Sep 11, 2024
According to a recent Global Specialties market update by Guy Carpenter, a global risk and reinsurance specialist, several significant trends have emerged in the terrorism and political violence insurance markets. While rates in the direct terrori...
Posted: Sep 11, 2024
Speaking in an interview at the Rendez-Vous de Septembre (RVS) in Monte Carlo, Jim Bichard, Global Insurance Leader, Partner, PwC UK, observed that while trading and renewals discussions are important, a longer-term view of the transition to net z...
Posted: Sep 11, 2024
Specialist insurer Inigo Limited has announced that it will be funding a three-year research programme at the University of Cambridge, which will apply the latest advances in both computing and AI in order to deepen understanding of how climate ch...
Posted: Sep 11, 2024
Intermap Technologies, a global firm specialising in 3D geospatial products and intelligence solutions, has formed a strategic collaboration with Aon’s Impact Forecasting to enhance underwriting, risk management and portfolio modelling. Intermap’s...
Posted: Sep 11, 2024
Global specialty underwriter and re/insurance provider AXIS Capital Holdings Limited (AXIS) has announced the appointment of Pranav Shroff as Head of Life Sciences in North America. Based in New York, Shroff will report to Michael McKenna, Head of...
Posted: Sep 11, 2024
Recent years have seen a higher number of negative ratings actions on businesses operating in US insurance markets, with downgrades of AM Best-rated US firms increasing by 60% in 2023. According to AM Best, this deterioration reflects the conditio...
Posted: Sep 11, 2024
HDI Global SE, an industrial insurer, is set to integrate generative artificial intelligence (GenAI) into its services within the International Programmes sector to enhance customer offerings. Following the successful trial of its in-house AI solu...
Posted: Sep 11, 2024
HSB, a multi-line specialty insurer and part of reinsurance giant Munich Re, has expanded its cyber insurance coverage with new protections for connected vehicles, cybercrime victims, digital wallets, and other emerging risks. HSB Home Cyber Prote...
Posted: Sep 11, 2024
Despite experiencing a difficult year in 2023, NewRe’s CEO Thomas Braune expects that the firm’s growth from the past will continue. In addition to expressing confidence in the company’s future, he emphasised the need for greater...
Posted: Sep 11, 2024
Global insurance and reinsurance broking group Aon has been restructuring its risk business, based on what the firm has been seeing from client need, according to Eric Andersen, President of Aon. These comments stem from Andersen’s speech at...
Posted: Sep 11, 2024
Discipline in the re/insurance market will be essential to enter a period of prosperity and a regular cycle with possible rate softening ahead, Neville Ching, CEO of ReFlex commented at Monte Carlo RVS 2024. Ching believes that the current market...
Posted: Sep 11, 2024
Global ratings agency S&P Global has stated that for most rated rated primary insurers, a climate change-induced rise in claims costs is unlikely to lead to negative rating actions over the medium term, even if profitability was to become more...
Posted: Sep 11, 2024