Reinsurance News
Recent analysis by Information Services Group (ISG), a global technology research and advisory firm, suggests that US enterprises are investing strategically in cybersecurity services as data breaches continue to rise. The firm’s 2024 ISG Pr...
Posted: Aug 30, 2024
The Cayman Islands Monetary Authority (CIMA) has released the licensing statistics for the insurance sector, granting 12 new international insurer licenses in the second quarter of 2024. CIMA issued three B(i)s, one B(ii), six B(iii)s plus a class...
Posted: Aug 30, 2024
Enstar has completed a transaction between its wholly-owned subsidiary, Cavello Bay Reinsurance Limited, and Insurance Australia Limited, on behalf of IAG, to provide adverse development cover (ADC) for IAG’s long-tail reserves. IAG announced this...
Posted: Aug 29, 2024
Bruce Dettling has been appointed to the role of Global Head of Mining and Heavy Industry for Gallagher, where he will be responsible for leading the firm’s global specialist practice with teams based in the UK, Latin America, Canada and Aus...
Posted: Aug 29, 2024
WTW, an advisory, broking, and solutions company, has appointed Gavin Hamilton as a Director on its International Property team in London. With over 30 years of industry experience, Hamilton previously led the European Wholesale and South African...
Posted: Aug 29, 2024
As alternative risk solutions gain traction, parametric insurance is expected to be the most in-demand offering, according to a recent poll by Reinsurance News. The poll shows that parametrics lead significantly with 40% of the vote, far surpassin...
Posted: Aug 29, 2024
Heph, the insurance SaaS platform in India and an affiliate of InsuranceDekho, has officially launched, with an advanced platform that provides a wide range of digital solutions aimed at optimising operations for insurance distributors nationwide....
Posted: Aug 29, 2024
Hong Kong-domiciled reinsurer, Peak Reinsurance Company Limited’s outlook has been revised to stable from negative by ratings agency AM Best. The revision is driven by the agency’s view of Peak Re’s ultimate parent, Fosun’s stabilised credit condi...
Posted: Aug 29, 2024
Independent specialist insurance and reinsurance broker BMS Group has appointed Spencer Pearce as Mining Practice Leader. Pearce has over 30 years of experience, having previously held senior roles in underwriting and broking positions. He began h...
Posted: Aug 29, 2024
Global property & casualty (P&C) reinsurers posted strong earnings with solid top-line growth in the first half of 2024, which was primarily driven by the favourable pricing environment, notably across property and specialty business, repo...
Posted: Aug 29, 2024
Among the four largest European reinsurers, Munich Re, Swiss Re, and Hannover Re all saw further improvements in earnings in 1H24, driven by better underwriting results across most business lines, according to Fitch Ratings. In contrast, SCOR repo...
Posted: Aug 29, 2024
Australian insurance broking and distribution group Steadfast has revealed net profit after tax for the FY 2024 of $252.2 million, up 21.8% from 2023, while the firm’s underlying EBITA grew 22.7% to $528.5 million. According to Steadfast, th...
Posted: Aug 29, 2024
The Prudential Insurance Company of America, a provider of insurance and financial services, has been selected for an industry-first pension risk transfer (PRT) involving a multi-employer plan. They will now oversee the retirement benefits for the...
Posted: Aug 29, 2024
Coalition, an active insurance provider focused on preventing digital risks before they occur, has appointed Fiona McMartin as Associate Underwriter in its London office. McMartin launched her insurance career in 2022 through RSA’s graduate progra...
Posted: Aug 29, 2024
White Rock Insurance (SAC) Ltd., global insurance and reinsurance broker Aon’s segregated accounts company, has reportedly filed a lawsuit in New York against China Construction Bank as Aon seeks compensation for itself and its clients for d...
Posted: Aug 29, 2024
Sapiens International Corporation has unveiled Version 12.0 of its Sapiens CoreSuite for Property & Casualty (P&C) for the North American insurance market. As Reinsurance News understands, this new release will provide insurers with a mult...
Posted: Aug 29, 2024
CRC Group, a North American wholesale specialty insurance distributor, has announced the addition of three new team members as part of its strategic expansion to better support retail agency clients nationwide. Rudie Heling has joined the CRC Grou...
Posted: Aug 29, 2024
Canada Life Reinsurance, a provider of reinsurance solutions for life and health, has reported its results for the first half of 2024, showing a 14% increase in base earnings compared to the same period last year. Canada Life Re is a division of T...
Posted: Aug 28, 2024
The wildfire that struck the Municipality of Jasper and Jasper National Park this summer has resulted in insured losses exceeding $880 million, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). The intense wi...
Posted: Aug 28, 2024
After reinsurers paid over $150 billion in global claims across property, casualty, and specialty lines in 2023, Swiss Re’s Urs Baertschi has emphasised the industry’s critical role as a shock absorber, a springboard for addressing the...
Posted: Aug 28, 2024
As specialty insurer Core Specialty Insurance Holdings, Inc.’s product and geographical diversification continues to improve on the back of acquisitions and organic growth initiatives, AM Best has upgraded the credit ratings of its subsidiar...
Posted: Aug 28, 2024
Global specialty underwriter and re/insurance provider, AXIS Capital Holdings Limited (AXIS), has announced the appointment of David White as Head of Aviation, AXIS Global Markets, effective October 1, 2024. White will be taking over from Terry Wo...
Posted: Aug 28, 2024
Ageas, the Brussels-headquartered multinational insurer, has reported a total net operating result of its reinsurance segment of €67 million in the first six months of 2024, up from the €66 million figure that was posted in the prior year period....
Posted: Aug 28, 2024
Global advisory, broking, and solutions firm WTW has appointed Simone Bonnet and Andrew Hirsch as Co-Heads of Transactional Insurance Solutions within Private Equity and Transactional Solutions, Corporate Risk and Broking North America (CRB NA). A...
Posted: Aug 28, 2024
Fitch Ratings has revised its sector outlook for the German non-life insurance market to ‘improving’ from ‘neutral’ in June 2024, as the rating agency predicts better underlying profitability supported by strongly rising premium rates in motor and...
Posted: Aug 28, 2024