Reinsurance News
Brit Ltd, the global specialty re/insurer and subsidiary of FairFax Financial Holdings Limited, has posted an undiscounted combined ratio of 80.5% for the first half of 2024, representing an improvement from the prior year’s 82.3%. At the sa...
Posted: Sep 06, 2024
The Demex Group, a technology-enabled managing general agent (MGA), has raised $10.25 million through a Series A and previously closed SAFE funding round for its breakthrough weather- and climate-related reinsurance solution. Demex delivers an inn...
Posted: Sep 06, 2024
Insurance and reinsurance broker McGill and Partners has appointed Nick Williams-Walker as the Group Chief Operating Officer (COO), effective September 23rd, 2024. Williams-Walker succeeds Stephen Cross, who has been the firm’s acting Group COO si...
Posted: Sep 06, 2024
The UK and US Pension Risk Transfer (PRT) markets are experiencing exceptionally strong demand, with insurers expected to secure over £250 billion in combined volumes over the next three years, according to Legal & General. The latest edition...
Posted: Sep 06, 2024
AM Best reports that the U.S. and Bermuda reinsurance composite is maintaining its positive momentum and is set to continue its strong performance from 2023 into 2024. The U.S.-Bermuda composite recorded its third consecutive year of improved unde...
Posted: Sep 06, 2024
Global ratings agency Moody’s Ratings has affirmed the A1 insurance financial strength ratings (IFSR) of French reinsurer SCOR and its key operating entities, with the outlook on all retained at stable. Simultaneously, all debt ratings were also a...
Posted: Sep 06, 2024
Zurich-based catastrophe insurance data provider PERILS has disclosed its second industry loss estimate of €1.590 million for the floods in southern Germany from 31st May to 6th June 2024. This compares to the initial loss estimate of €1.568 milli...
Posted: Sep 06, 2024
Euclid Transactional, a managing general agent (MGA) specialising in transactional insurance underwriting and claims handling, has launched its new Asia Pacific (APAC) division. Headquartered in Singapore, the APAC programme will be led by Alice H...
Posted: Sep 06, 2024
Annuities sales in the United States have reached their highest levels, surpassing all previous records, with the United Kingdom experiencing a similar trend in life-saving product sales, following a similar trajectory, Swiss Re has revealed. This...
Posted: Sep 06, 2024
Newline Group, a specialty insurance provider, has announced the launch of a new office in Manchester, reinforcing its ongoing dedication to brokers and clients in the UK’s regional market. This Manchester location is the company’s sec...
Posted: Sep 06, 2024
Sapiens International Corporation, a provider of software solutions for the insurance industry, has announced a new partnership with Addresscloud, a cloud-based location intelligence firm. This collaboration aims to enhance insurers’ ability...
Posted: Sep 06, 2024
Property and casualty insurer, Berkshire Hathaway Specialty Insurance (BHSI), has announced the promotion of Theresa Biedermann to Senior Vice President (SVP), Head of Commercial Lines (Public) and Financial Institutions Claims for Executive &...
Posted: Sep 06, 2024
Members of the Farm Bureau Property & Casualty Group have seen a 30% drop in surplus through Q2’24 due to significant catastrophe losses, including a major hailstorm in May and a wildfire in June, leading AM Best to downgrade its Issuer Credit...
Posted: Sep 06, 2024
Texel Group, a specialist in credit and political risk insurance, has announced that Hélène Heas and Davis Ng have joined its Singapore office as brokers, and will report to Angela Chang, Managing Director of Texel Asia. Heas and Ng will play key...
Posted: Sep 05, 2024
John Neal, Chief Executive Officer (CEO) of the specialist Lloyd’s insurance and reinsurance marketplace, said earlier today that there’s no reason for price to significantly change, and that the market still sees the makings of a supe...
Posted: Sep 05, 2024
Global insurance broker Acrisure has announced the appointment of Bill Farber as Head of Growth for its Mid-Atlantic Region to drive regional growth and capitalise on emerging business opportunities. In his new role, Farber will oversee growth str...
Posted: Sep 05, 2024
Traditional risk management models are being tested by unprecedented natural disasters, geopolitical tensions and economic volatility, and with complex and evolving perils more interconnected and severe than ever before, insurers and reinsurers mu...
Posted: Sep 05, 2024
In the first half of 2024, the insurance carrier M&A landscape saw 103 deals completed, the lowest seen in 15 years, according to Clyde & Co’s mid-year Growth report update. This follows a notable decline in deal volumes throughout 2023 in...
Posted: Sep 05, 2024
NFP, a company under Aon and a broker in property and casualty (P&C) insurance, benefits consulting, wealth management, and retirement plan advising, has announced its acquisition of Scott Litman Insurance Agency (SLIA). SLIA, based in Calabas...
Posted: Sep 05, 2024
James Loggie, Managing Director of Howden Re Financial Risks, emphasises a critical need for growth in the reinsurance market to match rising demand. Despite the stability and strong performance of the financial risks sector post-pandemic, the rei...
Posted: Sep 05, 2024
Industrial insurer HDI Global’s newly appointed Chief Executive Officer (CEO) for the UK and Ireland (UK&I) segment, Stephanie Ogden, has established a new executive team effective September 2nd, 2024. Simon Hunt, Gemma McWilliam, and Oliver D...
Posted: Sep 05, 2024
Canada Life Reinsurance has announced the appointment of David Maguire as Underwriting Director P&C. Maguire’s appointment comes as Canada Life Re, known for its life and annuity reinsurance offering, is increasingly looking to add greater div...
Posted: Sep 05, 2024
Bishop Street Underwriters, a multi-boutique insurance platform, acquired Conifer Insurance Services, a specialty commercial managing general agency (MGA), from expanding its multiline, differentiated MGA platform, marking its entry into commercia...
Posted: Sep 05, 2024
After reinsurers tightened terms and conditions and raised attachment points to move away from rising so-called secondary peril losses, primary insurers have now caught up and understand what it means to have higher volatility in the frequency spa...
Posted: Sep 05, 2024
Insurtech Floodbase’s AI-based flood monitoring technology has proven to be 11% more accurate than current leading methods, enabling more precise monitoring and reduced prices for parametric flood insurance, according to a recent study in Geophysi...
Posted: Sep 05, 2024