Reinsurance News
DeNexus US users are to benefit from the firm’s newly launched DeRISK Executive Report, a solution that will automatically map cyber risk metrics to SEC requirements for annual reporting of cyber risk management and governance. The Executive...
Posted: Mar 08, 2024
In Keefe, Bruyette & Woods, Inc, (KBW) recent analysis of the 2024 Association of Insurance and Financial Analysts (AIFA) conference, they found that management teams across virtually all Property & Casualty (P&C) sub-sectors are appro...
Posted: Mar 07, 2024
Bhaskar Chattaraj has been promoted to the newly created position of Chief Science Officer (CSO) at Howden Tiger, the reinsurance and capital advisory arm of Howden Group. Based in Minneapolis, Chattaraj will report to Nathan Schwartz, Head of Glo...
Posted: Mar 07, 2024
Bermuda-based reinsurer RenaissanceRe (RenRe) has announced numerous promotions within its European leadership team, with new roles for Sven Wehmeyer, Jodie Arkell, Hugh Brennan, and Ed Cruttenden. Wehmeyer previously held the position of Head of...
Posted: Mar 07, 2024
Speaking in an interview with Reinsurance News, Martin Hotz, Head Parametric Nat Cat, Swiss Re Corporate Solutions, suggested that the demand for parametric insurance will continue to rise in 2024, as “there is no fine print in a parametric...
Posted: Mar 07, 2024
Global re/insurance broker Aon, has acquired Humn.ai’s technology assets and intellectual property, in a move that is set to strengthen the firm’s commercial fleet proposition. According to Aon, this new capability will provide the com...
Posted: Mar 07, 2024
Aviva has released its 2023 Financial results, reporting a 9% growth in operating profit, to £1,467 million, and general insurance operating profit of £851 million, a 35% increase compared to the year prior. According to the insurer, the results f...
Posted: Mar 07, 2024
Concirrus, an AI insurtech company, has recently announced the launch of an updated market model that is expected to bring together the world’s largest pool of marine hull claims data. To ensure alignment with market best practices, Concirrus coll...
Posted: Mar 07, 2024
CLARA Analytics, the AI technology provider for insurance claims optimisation, has announced a remarkable 100% year-over-year growth in annual recurring revenue (ARR). This clearly cements CLARA’s position as a frontrunner within AI claims managem...
Posted: Mar 07, 2024
AM Best’s recent market segment report highlights the challenges faced by the U.S. property and casualty (P/C) sector in 2023, including severe weather-related losses, persistent inflation, and rising reinsurance prices, resulting in a net u...
Posted: Mar 07, 2024
Verisk, an insurance and analytics provider, has recently announced that Hastings Direct will now leverage its UKBuildings database to enhance its capabilities in assessing properties for insurance. UKBuildings is a comprehensive, property-specifi...
Posted: Mar 07, 2024
BLUECYBER, a managing general agent (MGA) specialising in cyber insurance, has secured a significant $1.5 million investment from venture capital firms Invisto and Bossa Invest, alongside support from investors within the insurance market. Eduardo...
Posted: Mar 07, 2024
Cyber risk management firm Resilience has announced it has added Technology Errors & Omissions (E&O) coverage to its existing cyber insurance and cyber risk management solutions. US organisations with $300M-$10B in revenue will benefit fro...
Posted: Mar 07, 2024
The Supervisory Board of Allianz SE has confirmed that it has extended the mandates of Allianz SE Board of Management members Sirma Boshnakova and Günther Thallinger, through December 2029, subject to customary regulatory approvals. Boshnakova, is...
Posted: Mar 07, 2024
In a trading update for its full year 2023 financial performance, global insurance and reinsurance marketplace Lloyd’s has revealed its underwriting profit increased by £3.3 billion to £5.9 billion. Burkhard Keese, Lloyd’s CFO commented, “2023 was...
Posted: Mar 07, 2024
Hamilton Insurance Group, Ltd. has reported a combined ratio of 90.2% and underwriting income of $36 million for the fourth quarter of 2023, as the firm’s net income rose considerably to $127 million for the period. The insurer’s gross premi...
Posted: Mar 07, 2024
Tokio Marine HCC has invested into a CAD $4.3 million funding round, secured by Clir Renewables (Clir), a renewable energy intelligence platform for wind and solar. Longbow Capital Inc., ArcTern Ventures and BDC Capital also participated in the fu...
Posted: Mar 07, 2024
Global specialty broker Price Forbes has appointed Dan Nicholls to its energy leadership team, and Ray Spreadbury as Head of Renewables. Commenting on the appointments, Andrew Draycott, CEO – Energy, Transportation and Specie at Price Forbes...
Posted: Mar 07, 2024
Pension Insurance Corporation plc (PIC), the specialist insurer of defined benefit pension funds, concluded, in November 2023, full scheme buy-ins with the Trustees of three defined benefit pension schemes formerly sponsored by Thomas Cook Group,...
Posted: Mar 07, 2024
Liberty Mutual Holding Company Inc. has reported a net income of $213 million for the full year 2023, down substantially from the $414 million recorded in 2022, despite a strong end to the year. Liberty’s total net written premium for the full yea...
Posted: Mar 07, 2024
Prudential Financial and Reinsurance Group of America (RGA) have been selected for a pension risk transfer involving Verizon Communications, settling approximately $5.9 billion of Verizon pension liabilities and providing retirement security for a...
Posted: Mar 07, 2024
Insurance and reinsurance broker Aon has named Arshi Ahmed as the Global Head of Analytics for financial, professional and cyber products, and Ben Von Obstfelder as Head of U.S. Casualty Analytics, both for Commercial Risk. The broker stated that...
Posted: Mar 07, 2024
Specialist insurer Beazley has announced record pre-tax profit of $1.25 billion and a combined ratio of 71% for the year ended December 31st, 2023, with strong growth in the insurance service result of 52% and an investment return of 4.9%. Group p...
Posted: Mar 07, 2024
Ivans, a division of Applied Systems, recently released the February 2024 results from the Ivans Index, revealing that all major commercial lines experienced an increase in average premium renewal rates month over month. The Ivans Index is a data-...
Posted: Mar 07, 2024
Privilege Underwriters, Inc. and the affiliated companies of the PURE Group of Insurance Companies have announced two key leadership appointments: Drew Saad as Chief Underwriting Officer and Dea Malollari as Chief Risk Officer. Martin Leitch, CEO...
Posted: Mar 07, 2024