Reinsurance News
Managing general agent (MGA) Specialty MGA UK continues to expand its presence in Latin America with the hire of Humberto Contasta as Head of Treaty, Latin America and the Caribbean. In his new role, based in Miami, Contasta will use his more than...
Posted: Mar 20, 2024
Swiss Re Institute has revealed insights into the inflation trends within the Euro area, anticipating a return to the 2% mark, consistent with expectations of economic normalisation. According to a recent analysis, authored by By Timothy Mallor, P...
Posted: Mar 20, 2024
American multinational financial services company, Corebridge Financial, Inc., has announced that its Board of Directors elected Deborah Leone as an Independent Director on March 5th, 2024. Peter Zaffino, Chairman of the Board of Directors, Corebr...
Posted: Mar 20, 2024
According to rating agency AM Best, the strong pricing levels for reinsurance capital was one factor that helped generate a record-breaking year for the insurance-linked securities (ILS) market in 2023. Throughout last year, reinsurance pricing ro...
Posted: Mar 19, 2024
Sompo has appointed Richard “Rick” Allen as Chief Underwriting Officer for its Global Markets Commercial P&C insurance business. In the new role, Allen will reportedly work closely with the commercial P&C insurance chief underwriting offic...
Posted: Mar 19, 2024
MS Amlin, the Lloyd’s global insurer and reinsurer, has announced that Martin Burke has been appointed as Chief Underwriting Officer (CUO) on a permanent basis. Burke took up the role as interim CUO in October last year, having previously se...
Posted: Mar 19, 2024
London and International Insurance Brokers’ Association (LIIBA), the representative body for London market insurance brokers, has confirmed with its members that the Financial Conduct Authority’s (FCA) conduct rules do not apply to distribution se...
Posted: Mar 19, 2024
Risk Strategies, an international specialty insurance brokerage and risk management firm, has acquired Hugh Wood Inc. (US) and Hugh Wood Canada Limited, the US and Canadian operating entities of global insurance holding company, H.W. International...
Posted: Mar 19, 2024
Global re/insurance broker Aon has promoted Erich Lowe to the role of Property Leader for Greater New York, effective immediately. Lowe will report to Brian Simons, Eastern & Southern Region Property Leader and Managing Director for Aon. Simon...
Posted: Mar 19, 2024
Re/insurer ratings across Europe, the Middle East and Africa (EMEA) have begun to stabilise following difficult market conditions in 2022, according to credit ratings agency AM Best. In a recent report released by the firm, Best notes that despite...
Posted: Mar 19, 2024
Independent insurance broker Lockton has strengthened its business growth in the Indian market with the appointment of three new members, Mukul Bhatia, Irfan Shirwani, and Prasanna Hunur. Bhatia, who has over two decades of experience in insurance...
Posted: Mar 19, 2024
Lloyd’s, the world’s oldest insurance and reinsurance marketplace, and the United Nations Capital Development Fund (UNCDF) are set to run parametric insurance training in climate vulnerable countries. According to the announcement, Lloyd’s h...
Posted: Mar 19, 2024
Business leaders in the financial services sector feel optimistic about business growth for the second quarter of 2024 (April-June), with 79% of insurance executives citing confidence about the coming quarter. Research from KPMG UK revealed that 8...
Posted: Mar 19, 2024
Specialist insurance provider CFC has announced its entry into the carbon insurance market with the launch of a “groundbreaking” new product. CFC’s new Carbon Delivery Insurance is reportedly the first to cover both the physical and po...
Posted: Mar 19, 2024
Digital risk processing platform, Cytora has expanded its global advisory with the appointment of Emmanuel Clarke, the former President and Chief Executive Officer (CEO) of Bermuda-based reinsurer PartnerRe. Clarke is an industry veteran with lead...
Posted: Mar 19, 2024
A recent survey commissioned by Cowbell has revealed that the UK’s small and medium-sized enterprises (SMEs) lack implementation of best practice cybercrime protocols and are severely unprepared to react to an incident, with only 19% having...
Posted: Mar 19, 2024
Swiss Re, the global reinsurance firm, has appointed Amitabha Ray as the Chief Executive Officer (CEO) of the Swiss Re India Branch, effective April 1st, 2024, subject to regulatory approvals. Ray will be based in Mumbai and report to Victor Kuk,...
Posted: Mar 19, 2024
Everest Insurance International, a division of Bermuda-based insurer and reinsurer Everest Group, Ltd., has recently appointed Monique Kooijman as Head of Netherlands and Northern Europe. In a recent announcement, Everest expressed its enthusiasm...
Posted: Mar 19, 2024
Milliman, a global consulting and actuarial firm, has recently released the results of its Milliman Pension Buyout Index (MPBI), highlighting a slight increase in pension risk transfer costs at the end of February. As the pension risk transfer (PR...
Posted: Mar 19, 2024
FWD Group has announced its 2023 financial results, reporting $372 million in operating profit after tax, a 27% increase from 2022’s $299 million, and a new business value of $991 million, up 22% compared to the prior year. Huynh Thanh Phong, Grou...
Posted: Mar 19, 2024
Novatae Risk Group, the wholesale insurance brokerage, managing general agency and program manager, has completed its acquisition of Bretton Woods International (BWI) of London, England. BWI is a specialized insurance broker focused on open market...
Posted: Mar 19, 2024
The American Club (the Club), a US-domiciled mutual protection and indemnity club, has reported slight decreases in its year-on-year renewal results, indicating overall stability despite recent challenges. For the Club’s Class I entries, it&...
Posted: Mar 19, 2024
Reinsurance broker Gallagher Re has appointed Brian Flasinski as Chief Executive Officer of the North American region, succeeding Jim Bradshaw who is set to assume the role of Chairman, Gallagher Re North America. According to the firm, both appoi...
Posted: Mar 18, 2024
Global insurer Chubb has announced the launch of International Transactional Risk, a global platform that aims to provide transactional risk liability insurance products across international markets. Josh Cowen, a seasoned mergers and acquisition...
Posted: Mar 18, 2024
Markel, the insurance operations within the Markel Group Inc., has announced the promotion of David Roos to Senior Director, Property and Marine for Markel Specialty’s Wholesale Southeast region. Roos will report to Steve Girard, Regional Pr...
Posted: Mar 18, 2024