Reinsurance News
Large European reinsurer Hannover Re is seeing robust demand for “high-quality” reinsurance protection and is well placed for profitable growth ahead of the January 1st, 2025, reinsurance renewals. This morning, Hannover Re discussed current reins...
Posted: Sep 09, 2024
According to Isabelle Clausner, VP, client executive – EMEA at Xceedance, opportunities for re/insurers to enhance operations with GenAI are many and varied, and although it will take a lot of work and introspection to achieve individual aims, the...
Posted: Sep 09, 2024
Insurance origination and distribution specialist Amwins is expanding its reinsurance broking capabilities, with the latest being the move of part of the Equinox Re team from Price Forbes Re to the company, including Nick Foden-Pattinson and Jere...
Posted: Sep 09, 2024
BMS Group (BMS), the independent specialist re/insurance broker, has appointed Anna Painter as Head of Global Healthcare Technical Operations, a newly created role based in London. Painter will report to Rob Wendin, Managing Director of the Global...
Posted: Sep 09, 2024
In their financial results for the fiscal year 2024 (FY24), Guidewire has posted $980.5 million in total revenue, an increase of 8% from the prior year. Guidewire also disclosed that it’s subscription and support revenue sat at $549.1 millio...
Posted: Sep 09, 2024
AM Best has affirmed Brazilian reinsurer IRB (Re)’s Financial Strength Rating of A- and its Long-Term Issuer Credit Rating of “a-”, while revising the outlooks from negative to stable. The ratings reflect IRB (Re)’s balance sheet strength, assesse...
Posted: Sep 08, 2024
Despite noting the “almost limitless” potential of the cyber re/insurance market, SCOR’s CEO, Thierry Léger, has observed that it can only grow at the pace of capacity, meaning it will chiefly be an opportunity for the next few d...
Posted: Sep 08, 2024
Connect Underwriting Limited has announced the launch of reinsurance MGA BRICS UW, which will reportedly provide capacity to emerging markets. “It will also act as a hub for international markets, enabling reputable emerging market reinsurer...
Posted: Sep 08, 2024
The market environment for reinsurers remains both promising and challenging, and after impressive growth in recent years, the marketplace is poised to grow by 2-3% over the next three years, Munich Re said at the 66th Rendez-Vous de Septembre in...
Posted: Sep 08, 2024
Although S&P Global Ratings had many positive things to say about the reinsurance sector at its recent briefing in Monte Carlo, Senior Director Taoufik Gharib urged the market not to forget about the major risk posed by the US casualty space....
Posted: Sep 08, 2024
In a joint statement, Aon and Marsh McLennan have called on the re/insurance industry to aid Ukraine’s resilience by facilitating economic growth, chiefly through the removal of blanket exclusions. According to the two firms, blanket exclusi...
Posted: Sep 08, 2024
Oak Reinsurance and Polo Managing Agency Limited (PMA), a PoloWorks company, have announced that Oak Re Syndicate 2843 has received Lloyd’s ‘in principle’ approval to commence underwriting from 1 January 2025. Paul Andrews, Chief Executive Officer...
Posted: Sep 08, 2024
Global rating agency Fitch forecasts global reinsurance net premiums written to continue to grow in 2024 and 2025, forecasting USD 173.4 billion and USD 183.8 billion, respectively, with the impact of catastrophe losses to worsen. “Premiums growth...
Posted: Sep 08, 2024
Based on fully-year 2023 and first half 2024 revenues, Aon Reinsurance Solutions, the reinsurance broking arm of the global intermediary, remains the world’s top reinsurance broker, and while Guy Carpenter is a close second so far this year,...
Posted: Sep 08, 2024
Social inflation has become the main growth driver of US liability claims, with a rising number of large court verdicts pushing claims in the US to increase by 57% in the past decade, ultimately causing them to peak at 7% in 2023, the first time s...
Posted: Sep 07, 2024
During Guy Carpenter’s virtual media briefing, the firm’s Global Co-Heads of Cyber discussed the growing demand for cyber reinsurance, which has been met with ample supply in the reinsurance markets. Erica Davis, Global Co-Head of Cyber at Guy Car...
Posted: Sep 06, 2024
Insurance holding company W. R. Berkley Corporation has appointed Antonio Q. L. Rhodes as President of Berkley Mid-Atlantic Insurance Group (BMAG), a Berkley subsidiary, effective immediately. Rhodes is an industry veteran with nearly two decades...
Posted: Sep 06, 2024
The legacy insurance market is evolving, with the strongest players continuing to adapt and thrive, reinforcing their critical role in the global re/insurance industry, says Kevin Gill, Chairman of the Insurance & Reinsurance Legacy Associatio...
Posted: Sep 06, 2024
According to a recent Reinsurance News poll, sustaining price levels is perceived as the main focus of conversations for reinsurers at the 66th Rendez-Vous de Septembre (RVS) in Monte Carlo. With the global reinsurance industry soon to meet at RVS...
Posted: Sep 06, 2024
Specialist managing general underwriter, New Energy Risk (NER), a wholly owned division of Paragon Insurance Group, and CAC Specialty, an insurance broker have partnered with Erthos, a large-scale renewable energy technology company to develop an...
Posted: Sep 06, 2024
AXA XL, the re/insurance company, has named Arti Rawal as Chief Underwriting Officer for the Middle Market segment in Canada. Rawal will head the newly formed Middle Market team in Canada and will report to Matthew Waters, Head of Middle Market fo...
Posted: Sep 06, 2024
Global insurance and reinsurance broking group Aon has expanded its Bermuda reinsurance platform to enhance transactional and capital optimisation solutions and support profitable growth opportunities for clients. Aon has added five new members to...
Posted: Sep 06, 2024
The cyber insurance market is poised for significant growth over the next several years as cyberattacks continue to grow in number and sophistication, with the potential to cause major financial and reputational damage and disrupt business operati...
Posted: Sep 06, 2024
Sun Life Malaysia has adopted Munich Re Automation Solutions’ software-as-a-service (SaaS) underwriting solution to streamline the underwriting process and enhance its customer experience. This partnership will provide Sun Life Malaysia with a cut...
Posted: Sep 06, 2024
Global life and health reinsurer Pacific Life Re has partnered with the Financial Services Skills Commission (FSSC) to ensure the financial services sector is prepared for long-term skills needs; becoming the first dedicated reinsurance firm to jo...
Posted: Sep 06, 2024