Reinsurance News

Privately insured losses in the US from Hurricane Debby, the fourth named storm of the 2024 North Atlantic hurricane season and the third hurricane in the past decade to make landfall in Florida’s Big Bend region, will be close to $1.4 billion, ac...

Posted: Aug 15, 2024

Markel Group has announced that Grant Smith has been appointed as Director of Marine & Energy Liability for International Specialty, effective immediately. This appointment is part of Markel’s ongoing efforts to strengthen its internatio...

Posted: Aug 15, 2024

Talanx Group, the parent company of Hannover Re and HDI, increased its total group net profits by 32% in the first half of 2024, exceeding €1 billion for the first time. Based on this number, Talanx affirmed that it remains highly confident of exc...

Posted: Aug 15, 2024

Marsh, an insurance broker and risk advisor that is part of Marsh McLennan, has introduced a new insurance solution aimed at the transportation and storage of carbon dioxide (CO2). This innovative solution is available for projects worldwide and t...

Posted: Aug 15, 2024

Global reinsurance broker Gallagher Re has confirmed that Guy Carpenter’s Global Head of Distribution, Lara Mowery, is joining the firm in a senior role. Mowery joined Guy Carpenter, the reinsurance broking arm of Marsh McLennan, in 1997 to...

Posted: Aug 15, 2024

Chubb, the global property and casualty (P&C) insurer, has appointed Lyndsey Christofer as Executive Vice President, Head of North America Casualty for Major Accounts. Based in New York, Christofer brings more than two decades of expertise acr...

Posted: Aug 15, 2024

Lockton Re, the reinsurance division of a privately-owned independent insurance broker, has announced a new partnership with global reinsurer Ariel Re. This collaboration will allow placements to be made through Lockton Re’s SAGELink, an API-drive...

Posted: Aug 15, 2024

Global specialty lines re/insurer Canopius has hired industry veteran Steve Mills as Head of Casualty in the US, reporting to Lisa Davis, CEO of US & Bermuda. He is currently based in the Greater Atlanta area where Canopius is continuing to ex...

Posted: Aug 15, 2024

Insurer and reinsurer Aspen Insurance Holdings Limited grew its reinsurance gross written premiums (GWP) 42% in the second quarter of 2024 to $566.2 million, as the segment generated underwriting income of $44.8 million with a combined ratio of 86...

Posted: Aug 15, 2024

The U.S. private market insurance industry loss from Hurricane Debby is not expected to exceed $1.5 billion, while losses to the National Flood Insurance Program (NFIP) from the event will be less than $300 million, according to Moody’s RMS Event...

Posted: Aug 15, 2024

Bermuda-based Fidelis Insurance Holdings Limited has reported net income of $53.7 million for the second quarter of 2024, despite catastrophe and large losses rising 113% year-on-year as the combined ratio weakened by 10.7 percentage points to 92....

Posted: Aug 15, 2024

Prime Insurance Company, an excess and surplus lines insurance carrier, has announced the appointment of Peggy E. Day as its Executive Senior Vice President of Operations and Strategic Advisor to the CEO. Day has over three decades of experience i...

Posted: Aug 15, 2024

Maritime risks insurer Falvey Insurance Group has announced that Mike Falvey will transition from Chief Executive Officer (CEO) to Executive Chairman, effective January 1st, 2025. Falvey maintains his role as Chairman of the Board, overseeing the...

Posted: Aug 15, 2024

After witnessing strong topline growth across 2022 – 2023, Islamic and Takaful insurers based in the Gulf Cooperation Council (GCC) region are continuing to benefit from favourable growth prospects, which is mainly due to higher insurance de...

Posted: Aug 15, 2024

US primary insurer Progressive’s property business loss estimate reduced by $60.4 million in the month of July, reflecting further development on the May storms. Back in June, property and auto-focused insurance group Progressive announced n...

Posted: Aug 14, 2024

Oliver Wyman, a global management consulting firm and a business of Marsh McLennan, has announced a collaboration agreement with AKA Consulting, an actuarial and risk consulting firm based in the Cayman Islands. Through this collaboration, Oliver...

Posted: Aug 14, 2024

Cowbell, a cyber insurance provider for small and medium-sized enterprises (SMEs), has announced the appointment of insurance veteran Stephen Moss to its Board of Directors. Moss brings three decades of industry experience and is currently Group H...

Posted: Aug 14, 2024

American Integrity Insurance, a regional provider of property insurance, has announced that it now offers coverage for homes up to 75 years old in South Carolina. Since entering the South Carolina market in 2022, the company has been steadily expa...

Posted: Aug 14, 2024

More than 2.6 million homes across 14 US states are at moderate to very high risk of wildfire damage during 2024’s wildfire season, with a total reconstruction cost of $1.3 trillion, according to a new report from CoreLogic, a provider of pr...

Posted: Aug 14, 2024

Reinsurers are expected to cover around four-fifths of the loss in insured property damage caused by Hurricane Beryl in the Caribbean, which is estimated US$500-million, according to Ian Chinapo, Head of Guardian Holdings Limited (GHL), a local in...

Posted: Aug 14, 2024

After a record 2023, the insurance-linked securities (ILS) market again set records in the first half of 2024, with strong catastrophe bond issuance on the back of robust demand from investors, as the secondary market experienced record high tradi...

Posted: Aug 14, 2024

As the California property market experiences a dynamic and challenging time, it faces an escalating risk of wildfires, a peril that needs multiple perspectives in order to understand it, experts stated during Guy Carpenter’s recent Californ...

Posted: Aug 14, 2024

Sompo, a global provider of commercial and consumer property, casualty, and specialty re/insurance, has appointed Aditya V. Tibrewala as Chief Executive Officer of Sompo Insurance (Thailand) PCL (Sompo Thailand), effective immediately. He will con...

Posted: Aug 14, 2024

Amwins, a distributor of specialty insurance products and services, has launched the “Tees-to-Green” flood insurance programme in partnership with Floodbase and supported by highly-rated carriers. This programme is designed to cover US...

Posted: Aug 14, 2024

In their results for the second quarter of 2024, Conifer Holdings has reported a 57.5% decrease in gross written premiums (GWP), falling to $19.0 million, compared to the $44.7 million figure from the second quarter of 2023. According to the firm,...

Posted: Aug 14, 2024