Reinsurance News
Arch Insurance Group Inc., has announced the promotion of Joe Morello to the role of Executive Vice President, Head of E&S Property. Prior to his appointment, Morello, who has over three decades of experience, served as SVP E&S Property at...
Posted: Apr 04, 2024
Global re/insurance broker Howden has entered into an agreement to acquire OFRACAR, an independent brokerage group headquartered in Rouen. Established in 1964 by Jean-Pierre Lecomte, OFRACAR is a broker based in Normandy, that specialises in prope...
Posted: Apr 04, 2024
Manulife Financial Corporation has successfully closed the previously announced transaction to reinsure a low ROE Canadian Universal Life block with RGA Life Reinsurance Company of Canada. If you recall, the transaction was announced last month, w...
Posted: Apr 04, 2024
Tokio Marine HCC – Cyber & Professional Lines Group (CPLG) has announced three key appointments to its leadership team, aimed at strengthening its position in the dynamic cyber and professional lines insurance market. Patrick Gallic has been n...
Posted: Apr 04, 2024
UK broker and underwriter Jensten has announced the acquisition of Henry Seymour & Co., a deal that will enhance its capacity to offer specialist products to clients with niche requirements. Henry Seymour & Co is a specialist insurance bro...
Posted: Apr 03, 2024
According to analysts at Fitch Ratings, major European commercial insurers will likely see their underwriting margins peak in 2024, followed by a gradual weakening. Throughout 2023, these insurers continued to enhance the profitability of their bu...
Posted: Apr 03, 2024
Munich Re has announced the appointment of Klaus Wilkens as the new president and CEO for Munich Reinsurance Company of Canada and Temple Insurance Company, the reinsurer’s agency affiliate in the country. An experienced leader with a strong mix o...
Posted: Apr 03, 2024
Moody’s RMS, the global catastrophe risk modeling and solutions company, has strategically collaborated with innovative reinsurance brokerage firm Augment Risk, to develop the market for parametric risk transfer. The collaboration aims to serve a...
Posted: Apr 03, 2024
Generali has completed the acquisition of Conning Holdings Limited (CHL) and its affiliates from Cathay Life, a subsidiary of Cathay Financial Holdings, one of the largest Asia-based financial institutions. The acquisition includes Conning, focuse...
Posted: Apr 03, 2024
Howden Tiger, the reinsurance broking arm of Howden, has announced its rebranding to Howden Re, aligning with the company’s broader rebranding initiative launched in October 2023. This initiative aims to unify its global broking operations under t...
Posted: Apr 03, 2024
Christa Davies, executive vice president and chief financial officer (CFO) for Aon, has chosen to retire in 2025 after more than 16 years at the firm. Davies joined Aon in 2007 and has served as CFO since 2008, overseeing the firm’s global f...
Posted: Apr 03, 2024
Global insurance and reinsurance broker Aon has completed the acquisition of Global Insurance Brokers (GIB) in India, a move that significantly expands the firm’s existing capabilities in the country. GIB, a composite re/insurance brokerage...
Posted: Apr 03, 2024
Global re/insurance broker Howden has announced the promotion of Paul Hasib to the newly created role of Chief Placement Officer for the Corporate & Commercial pillar within Howden UK & Ireland, effective April 1, 2024. In his new role, Ha...
Posted: Apr 03, 2024
Alternative asset manager Blue Owl has announced it has agreed to acquire Kuvare Insurance Services LP (dba Kuvare Asset Management) (KAM) for $750 million, a deal that will support the launch of Blue Owl Insurance Solutions. KAM is a boutique inv...
Posted: Apr 03, 2024
Zurich-based catastrophe insurance data provider PERILS AG has provided a second update on the insured loss estimate for the Australia Christmas Storms, which affected the states of Victoria, New South Wales, and Queensland, lifting the figure by...
Posted: Apr 03, 2024
Reflecting on the April 1 reinsurance renewals, James Vickers, Gallagher Re’s Chairman of International, says that reinsurers were looking “to grow their portfolios and therefore were relatively accommodating within the confines of the...
Posted: Apr 03, 2024
Arch Insurance (Bermuda) has announced the appointment of Robin Saul as Deputy Managing Director and Legal Counsel, as well three new Underwriting Managers, all with immediate effect. In her new role, Saul will be supporting Matthew Smith, Managin...
Posted: Apr 03, 2024
Ardonagh Advisory has completed its previously announced acquisition of Westfield Brokers Ltd. Established in 2009 by Managing Director Peter Cowan, Westfield Brokers, which trades under the name of Westfield Insurance, is an independent commercia...
Posted: Apr 03, 2024
Global reinsurer capital rose by approximately 17% to $670 billion in 2023, with growth of 17% in traditional reinsurance capital and 16% growth in alternative capital to a new all-time high, according to insurance and reinsurance broker Aon. The...
Posted: Apr 03, 2024
A 7.2 magnitude earthquake struck 18km south of Taiwan’s Hualien city at 8am local time today, driving the strongest tremors to have hit the country in the last 25 years, and given the region’s relatively high levels of insurance penet...
Posted: Apr 03, 2024
Lloyd’s global (re)insurer MS Amlin has appointed Sam Geddes as Head of Reinsurance, subject to regulatory approval. On top of his new responsibilities, which include leading MS Amlin’s extensive reinsurance teams, Geddes will also retain his exis...
Posted: Apr 03, 2024
Lloyd’s has appointed Malik Abbassi-Antoine as its General Representative for France and Monaco, and as its Country Manager for France, Luxembourg and Monaco, following the retirement of Guy-Antoine de La Rochefoucauld. Abbassi-Antoine has also be...
Posted: Apr 03, 2024
Specialty re/insurance provider Safety National Casualty Corporation has announced changes to the company’s executive and senior management structure, including Nick Kriegel appointment as Executive Vice President, Chief Innovation Officer, Genera...
Posted: Apr 03, 2024
American International Group, Inc. (AIG), a global insurer, has recently promoted Elie Oussi to the position of Senior Financial Lines Underwriter, FAC Reinsurance, GCC & North Africa (NA). In his new role, Oussi will collaborate with clients,...
Posted: Apr 03, 2024
Artex Risk Solutions has launched a new group captive designed to address risks for US transportation, trucking for hire, convenience store operators and petroleum marketers. According to the announcement, the group captive is a homogenous insuran...
Posted: Apr 03, 2024