Reinsurance News
Applied Underwriters has appointed Gregg Holtmeier as Vice President (VP) of Strategic Development, to collaborate with the company’s team in M&A, corporate alliances and partnership relationships. Holtmeier is an industry veteran with o...
Posted: Apr 03, 2024
Global reinsurance giant Swiss Re announced today that Andreas Berger is being promoted to become its new Group Chief Executive Officer, effective July 1st 2024, taking over that position from Christian Mumenthaler, who will step down after 25 yea...
Posted: Apr 03, 2024
Strategic Risk Solutions (SRS), an independent insurance company manager, has agreed to acquire Garnet Captive Insurance Services, a provider of alternative risk consulting and brokerage services, including captive insurance program services. Foun...
Posted: Apr 03, 2024
Conifer Holdings, Inc., a specialty insurance holding company, has announced its partnership with Palomar Holdings, Inc., to provide specialised insurance coverage tailored for the cannabis industry. This coverage will be provided through Palomar...
Posted: Apr 03, 2024
Independent Management Ltd. (IML), a Bermuda-domiciled insurance management firm, has appointed Justin N. Doherty as its new President and Chief Executive Officer (CEO), succeeding Cyril H. Whitter, Jr. who is retiring. After over three decades, W...
Posted: Apr 02, 2024
S&P Global Ratings has said that although the Francis Scott Key Bridge collapse in Baltimore could cause the largest marine insurance losses recorded since Costa Concordia in 2012, it will be a manageable earnings event for the global reinsura...
Posted: Apr 02, 2024
Global specialty insurance firm Ascot has announced the establishment of a new parametric insurance capability to complement its Property offering. This enhanced capability will be led by Mark Pepper, Ascot Group Chief Underwriting Officer and sup...
Posted: Apr 02, 2024
Large European reinsurers posted very strong financial results for 2023, enabling them to bolster reserves and balance sheets and this will support ratings in 2024, according to analysis by Fitch Ratings. The ratings agency feels that Europe’...
Posted: Apr 02, 2024
Strategic Risk Solutions (SRS), an independent insurance company manager, has announced the addition of Marco Adamo and Roy Baumann to SRS Altitude as Senior Alternative Risk Transfer (ART) experts. Effective April 2, 2024, Adamo will lead Altitud...
Posted: Apr 02, 2024
Managing General Agent Devonshire Underwriting has today announced its market launch, focussed on “positively disrupting” the transactional risk (TR) insurance space. The MGA will be led by four founders and partners – Natasha Attray,...
Posted: Apr 02, 2024
Natural catastrophes caused US $65 billion economic losses in the Asia Pacific region in 2023, according to global professional services firm, Aon. In their recently published 2024 Climate and Catastrophe Report, Aon highlighted how there were 398...
Posted: Apr 02, 2024
Holborn Corporation (Holborn), an independent reinsurance broker, has appointed Christopher McGrath to the position of Senior Vice President (SVP), Client Solutions. In his new role, McGrath will collaborate with Holborn’s client-facing teams to e...
Posted: Apr 02, 2024
Active insurance pioneer Coalition has announced that its full-stack carrier, Coalition Insurance Company (CIC), is now quoting for its admitted cyber product across the entire United States. Through CIC, the US admitted carrier wholly owned by Co...
Posted: Apr 02, 2024
Global reinsurer Ariel Re, has announced the promotion of 13 staff in its Bermuda and London offices, a move that underlines its mission to become an ‘academy firm’, which will support and develop talent in the reinsurance industry. The new promot...
Posted: Apr 02, 2024
French reinsurer CCR Re has reported a 2.1 percentage point improvement in its combined ratio for 2023 to 96.6%, despite the cost of natural catastrophes, net of retrocession, rising by €53 million year-on-year to €88 million. Gross, natural catas...
Posted: Apr 02, 2024
Fleming Insurance Holdings CEO Eric Haller has suggested that while the firm will continue to defend itself against the “meritless lawsuit” recently filed by James River Group Holdings, Fleming remains willing to acquire JRG Re “...
Posted: Apr 02, 2024
Arthur J. Gallagher & Co., a global insurance brokerage, has recently acquired two Florida-based companies: Specialty Risk Management Services, LLC, and Private Client Insurance Services, LLC, both located in Fort Myers. Specialty Risk Managem...
Posted: Apr 02, 2024
As per the CRESTA Industry Loss Index (CLIX), which provides data on non-US cat events that have generated industry losses above USD $1 billion, the Noto Peninsula Earthquake that struck Japan on January 1, 2024, is the only event that was added t...
Posted: Apr 02, 2024
Sompo, a global provider of commercial and consumer property and casualty re/insurance, has announced the appointment of Kenneth Reilly as Chief Executive Officer (CEO), Insurance, for the Asia Pacific region, succeeding Daniel Neo who is to retir...
Posted: Apr 02, 2024
As the fallout from the collapse of the Baltimore bridge last Tuesday continues, analysts at Fitch Ratings have said that although a tragic disaster with significant economic repercussions, the event will have a limited impact on individual reinsu...
Posted: Apr 02, 2024
AmRisc, a coastal commercial property insurance subsidiary of Truist Insurance Holdings, has raised $325 million of capacity for an insurance sidecar Trouvaille Re Ltd., supported by Stone Point Capital. The sidecar will reportedly provide collate...
Posted: Apr 02, 2024
According to global consultancy Bain & Company, insurance organisations across the globe have a $50 billion financial opportunity from generative AI (GenAI) to harness the technology in ways that could boost their revenues by as much as 20%, a...
Posted: Apr 02, 2024
According to global consultancy Bain & Company, insurance organisations across the globe have a $50 billion financial opportunity from generative AI (GenAI) to harness the technology in ways that could boost their revenues by as much as 20%, a...
Posted: Apr 02, 2024
Aspen has revealed that net income available to ordinary shareholders increased significantly in 2023, climbing to $485 million, while its combined ratio improved 5.5 points to 87.5%. Meanwhile, Aspen’s underwriting result for the full year...
Posted: Apr 02, 2024
Reinsurers continued to take on more property catastrophe risk at the April 1st, 2024, reinsurance renewals, which led to an increase in available capacity to meet growing demand in an overall more stable environment, according to Gallagher Re. Re...
Posted: Apr 02, 2024