Reinsurance News

Compre Group Holdings Limited, a reinsurance group based in Bermuda, announced the completion of a legacy reinsurance transaction with Accelerant, a data-driven risk exchange. This transaction received approval from the Bermuda Monetary Authority....

Posted: Aug 22, 2024

The frequency of global ransomware attacks is rising sharply, with Q2 2024 marking the second-highest number of reported attacks in a single quarter, according to Corvus Insurance’s Q2 2024 Cyber Threat Report. Based on data from ransomware leak s...

Posted: Aug 22, 2024

John Dacey, Group Chief Financial Officer (CFO) of Swiss Re, has said that the firm was surprised at the relatively low set of natural catastrophe losses it incurred in the first half of the year, and while the reinsurer’s ability to absorb...

Posted: Aug 22, 2024

CLARA Analytics, a provider of artificial intelligence (AI) technology for insurance claims optimization, has announced the appointment of Robin Spaulding as Chief Insurance Officer, and Greg Toll as Vice President of Sales for Self-Insured. In he...

Posted: Aug 22, 2024

According to a new report from AM Best, reinsurers met their cost of capital for the first time in four years in 2023, driven by a rebound in capital gains and underwriting profits. The rating agency observed that rising interest rates, stock mark...

Posted: Aug 22, 2024

Life insurer and asset manager Aegon has announced the appointment of Shawn Johnson as the new CEO of Aegon Asset Management (Aegon AM) and a member of Aegon’s Executive Committee. This appointment will take effect on September 23, with Johnson su...

Posted: Aug 22, 2024

Ping An has released its financial results for the first half of 2024, revealing a solid 3.9% year on year growth in property & casualty (P&C) insurance revenue, amounting to RMB 161,910 million. At the same time, the organisation also pos...

Posted: Aug 22, 2024

The frequency of deadly hurricane weather has surged by 300%, according to findings from Deep Sky Research. In its latest report, Deep Sky, a Montreal-based carbon removal project developer, explores how climate change is increasing hurricane risk...

Posted: Aug 22, 2024

According to Howden Re’s re/insurer earnings overview report for the first half of 2024, the period witnessed moderating rate increases in the primary market, whilst also experiencing a greater proportion of property & casualty (P&C)...

Posted: Aug 22, 2024

Enact Re, a subsidiary of Enact Mortgage Insurance Company (EMICO), has received an A- rating from S&P Global Ratings, with a stable outlook. This is the first rating assigned to Enact Re by S&P and the second rating since its launch, whic...

Posted: Aug 22, 2024

Lubomir Varbanov is assuming additional responsibilities at Swiss Re, expanding his current role as Managing Director, Head of Public Sector Solutions for Asia Pacific to include global accountability of the company’s work with Multilateral...

Posted: Aug 22, 2024

Pool Re, a UK terrorism reinsurer, announces that following a competitive tender process, it has selected Aon Securities Limited and Howden Capital Markets and Advisory for an insurance-linked securities (ILS) advisory contract. Previously, Pool R...

Posted: Aug 22, 2024

Gen Re, the global reinsurance subsidiary of Berkshire Hathaway, has appointed Craig Beardsley as Treaty North America Manager for its Mutual Practice team, while Erin Kang has been named Chief Underwriter for the same team, alongside her ongoing...

Posted: Aug 22, 2024

In its trading update for H1 2024, life insurer and asset manager Aegon has reported a net loss of €65 million as the operating result deteriorated by 8% to €750 million, reflecting unfavorable mortality experience mainly related to US Financial A...

Posted: Aug 22, 2024

To enhance cybersecurity, businesses should collaborate more closely with their insurance providers—particularly those that operate as hybrid InsurSec (insurance and cybersecurity) firms—to develop more effective risk reduction strategies, accordi...

Posted: Aug 22, 2024

Global reinsurer Swiss Re has today reported profit of $996 million and net income of $2.1 billion for the first half of 2024, as the firm’s property and casualty (P&C) and life and health (L&H) reinsurance businesses performed well...

Posted: Aug 22, 2024

McGriff, a US retail insurance broker, has announced the appointment of Kelly Ward as a Producer in its Mining Practice. In this role, she will provide insurance and risk transfer solutions to companies in the mining industry. Ward brings nearly t...

Posted: Aug 22, 2024

Millennial Specialty Insurance, LLC, (MSI) an independent managing general agencies (MGAs) in the US, and a subsidiary of The Baldwin Insurance Group, Inc., an insurance distribution firm, recently announced that it has surpassed $1 billion in in-...

Posted: Aug 22, 2024

Millennial Specialty Insurance, LLC, (MSI) an independent managing general agency (MGA) in the US, and a subsidiary of The Baldwin Insurance Group, Inc., an insurance distribution firm, recently announced that it has surpassed $1 billion in in-for...

Posted: Aug 22, 2024

A recent roll from Reinsurance News shows that there are a number of barriers that are disrupting innovation within the insurance industry’s pricing technology. Hundreds of people from across the insurance and reinsurance sector responded to...

Posted: Aug 21, 2024

EagleView, a provider of aerial imagery, has announced the appointment of Courtney Cooke as Vice President (VP) of Enterprise Growth. Piers Dormeyer, CEO of EagleView, stated, “We support 9 out of the top 10 insurance companies in North America as...

Posted: Aug 21, 2024

Most companies in the global reinsurance market are benefiting from enhanced reinvestment rates, marking a significant shift from the prolonged soft market, according to AM Best’s recent market segment report. During the soft market period, which...

Posted: Aug 21, 2024

Ascot, the Bermuda-based global specialty insurance company, has announced that Derek Aurori has joined the company’s U.S. Excess Casualty team, taking on the role of Vice President for the Northeast region. Based in New York, Aurori joins t...

Posted: Aug 21, 2024

In a recent report, the Financial Conduct Authority (FCA) urged insurers to ensure they are providing fair value and consistently good outcomes for their customers, as many still fall short. Matt Brewis, Director of Insurance at the FCA, stated, “...

Posted: Aug 21, 2024

Florida Peninsula Managers, the Managing General Agency (MGA) behind Florida Peninsula Insurance and Edison Insurance, has announced it will be renamed to Windward Risk Managers to better position itself for growth and new opportunities. The MGA h...

Posted: Aug 21, 2024