Reinsurance News
Specialist carbon insurance company, Kita has agreed to provide advanced management of non-for-profit and UK-based carbon standard, OxCarbon’s buffer pool. Through its ‘Buffer as a Service’ product, Kita will reduce risk for OxCarbon by empl...
Posted: Mar 15, 2024
Earnix, a provider of AI-based SaaS solutions, has partnered with Sollers Consulting, a software integrator and operational advisor, to deliver cutting-edge solutions across the property and casualty (P&C) insurance market in the UK, US, Franc...
Posted: Mar 15, 2024
Pension scheme trustees for Debenhams have agreed to enter into a superfund deal with Clara-Pensions, a transaction that will see the transfer of £600 million of the former British retailer’s pension assets to Clara. When Debenhams collapsed...
Posted: Mar 15, 2024
H.W. Kaufman Group, a privately held global insurance organization, has appointed Jacqueline Legrand to its London Board of Directors. Legrand’s remit in the role will include assisting the company’s leadership in exploring other new regions...
Posted: Mar 15, 2024
Credit ratings agency AM Best has assigned Arch Group Reinsurance Ltd. (Bermuda) a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of “aa-” (Superior). The outlook assigned to these ratings is stable. The ratings ag...
Posted: Mar 14, 2024
Legal & General Retirement America (LGRA) and Reinsurance Group of America (RGA) have partnered to complete a $700 million pension risk transfer (PRT) transaction with US-based FirstEnergy. The transaction will secure the retirement benefits o...
Posted: Mar 14, 2024
Markel, the insurance operation within Markel Group Inc., has promoted Oliver Atkin as Head of Bloodstock in London, effective immediately. He will report directly to Juliet Redfern, Divisional Managing Director of Equine and Livestock at Markel I...
Posted: Mar 14, 2024
Howden Tiger, the reinsurance and capital advisory arm of Howden Group, has announced that Carrie Byler has joined the company’s Global Casualty Division, taking on the role of Managing Director, Head of US General Casualty. Reporting to Global He...
Posted: Mar 14, 2024
Bloomberg Intelligence (BI) has said that a 360% rise in insured losses in the past three decades from the increased frequency and intensity of natural disasters is causing for insurers to “hike premiums and exit high-risk areas,”. At...
Posted: Mar 14, 2024
Bloomberg Intelligence (BI) has said that a 360% rise in insured losses in the past three decades from the increased frequency and intensity of natural disasters is causing insurers to “hike premiums and exit high-risk areas,”. At the...
Posted: Mar 14, 2024
The Lloyd’s insurance and reinsurance market and the Bermuda Monetary Authority (BMA) have committed to developing an initiative that will reportedly drive closer collaboration and alignment on sharing risk expertise between the two major (re)insu...
Posted: Mar 14, 2024
Marsh, an insurance broker, risk advisor and business of Marsh McLennan, has appointed Koen van Leuven as the Marine Broking Director, Marsh Netherlands. Based in Rotterdam, van Leuven is anticipated to join Marsh in the summer of 2024 and will re...
Posted: Mar 14, 2024
Cyber attack/data breaches have been identified as the top business risk for organisations across India, according to data from re/insurance broker Aon. The broker recently announced the results of its 2023 Global Risk Management Survey, which gat...
Posted: Mar 14, 2024
The Board of the Insurance Council of Australia (ICA) has appointed incoming Lloyd’s General Representative in Australia Tracey Bryan as a non-executive director. Bryan succeeds Chris Mackinnon, who joined the ICA Board in 2017. She will hold the...
Posted: Mar 14, 2024
Lloyd’s CFO Burkhard Keese has noted that despite stellar underwriting conditions in 2023, very little fresh capital flowed into the insurance market, with many promising capital-raising initiatives having to be abandoned, highlighting the need fo...
Posted: Mar 14, 2024
Cyber insurance provider At-Bay has announced the appointment of Martina Trucco as its Chief Marketing Officer. Trucco brings nearly two decades of strategic brand, product marketing, and communications experience to her new role. She joined At-Ba...
Posted: Mar 14, 2024
AXA Climate, the climate risk insurance broker, has strategically partnered with Reask, a provider of climate risk modeling solutions, to leverage its Metryc product to offer advanced parametric windstorm insurance solutions. The partnership lever...
Posted: Mar 14, 2024
Oneglobal, the independent Lloyd’s broker backed by JC Flowers, has over 90% of its UK teams now placing business through the Whitespace platform, the fully digital e-trading platform. Whitespace is owned by Verisk, an important technology p...
Posted: Mar 14, 2024
Maiden Holdings Ltd., has posted it’s results for the fourth quarter of 2023, which includes a net loss of $20.8 million, compared to a net income of $36.2 million from the prior year period. The firm posted lower underwriting loss of $21.1...
Posted: Mar 14, 2024
Fitch Ratings raises its baseline assumption for German insured catastrophe losses as it forecasts a 99% net combined ratio for 2023 and 2024 for the non-life sector in the country, the worst in recent times. Yet the sector outlook remains neutral...
Posted: Mar 14, 2024
Vienna Insurance Group, an insurer in the Central and Eastern European region, has reported double-digit premium growth and a solid increase in profit during a particularly successful financial year 2023. Gross written premiums (GPW) hit €13.8 bil...
Posted: Mar 14, 2024
African Risk Capacity (ARC) Limited has announced the appointment of two new non-executive directors to its Board, Susan Kasinga and Helen Amarquaye, who bring specialised technical experience in finance and insurance with them. With over three de...
Posted: Mar 13, 2024
Global Indemnity Group, LLC (GBLI) has posted its results for the full-year 2023, which includes a substantial performance in net income, as it reached $25.0 million compared to a net loss of $1.3 million for the corresponding period in 2022. At t...
Posted: Mar 13, 2024
Ageas has submitted an improved possible offer to the Board of Directors of Direct Line to acquire the entire issued and to be issued share capital of the insurer, but the company’s Board has again rejected the offer and expressed confidence...
Posted: Mar 13, 2024
A new initiative has been set up which aims to help improve the availability of insurance for higher-risk buildings awaiting work to fix fire safety issues. The Fire Safety Reinsurance Facility will help to increase insurance market competition to...
Posted: Mar 13, 2024