Reinsurance News
Global insurance broker Acrisure has announced a new leadership team for the Eleven Network, its UK-based retail insurance broking network. Jeff Hobson has been appointed CEO of Eleven Network, joining from Burns & Wilcox, where he previously...
Posted: Aug 14, 2024
Pacific Life Re, the global life and health reinsurer and wholly owned subsidiary of Pacific Life, has bolstered its protection business in Asia Pacific with senior appointments. Tyson Johnston, the current Managing Director of the Australian busi...
Posted: Aug 14, 2024
US primary insurer Allstate has entered into a definitive agreement to sell its Employer Voluntary Benefits business to StanCorp Financial Group, Inc. (The Standard) for $2 billion in cash, adjusted for the closing balance sheet. The transaction i...
Posted: Aug 14, 2024
According to a new AM Best report, a strategic market reset by global reinsurers in 2023 has led to robust technical profits and a shift in industry dynamics. AM Best’s Market Segment Report, Strong Technical Profits Bolster Momentum for Global Re...
Posted: Aug 14, 2024
Aviva has revealed that its group operating profit was £875 million in H1 of 2024, up 14% from the £765 million recorded in H1 of 2023. Meanwhile, Aviva’s General Insurance premiums grew 15% in H1 to £6 billion, with UK&I up 18% and Cana...
Posted: Aug 14, 2024
Global program manager Accredited Insurance Program Management has appointed Stuart McMurdo as President of Accredited UK & Europe, effective October 1st, 2024. McMurdo will be based in London and report to William Spiegel, Chief Executive Off...
Posted: Aug 14, 2024
Xceedance, an insurance-focused consulting, technology and data provider, has become the strategic partner of HDFC ERGO General Insurance, a private-sector general insurance company based in India, to implement Duck Creek’s full suite of SaaS core...
Posted: Aug 14, 2024
Sedgwick, a global provider of technology-enabled risk, benefits and integrated business solutions, has announced the expansion of its global operations to support the sector’s changing needs. As part of the expansion, the firm has appointed...
Posted: Aug 14, 2024
According to an AM Best commentary, the debate over Germany’s compulsory natural catastrophe coverage is hindered by the absence of political agreement between federal states and the central government. AM Best’s report titled, “Politi...
Posted: Aug 14, 2024
As the aviation industry recovers in 2023 after a challenging period, analysis from Allianz Commercial’s Aviation Risk, Claims and Insurance Outlook suggests that nearly 63% of claims were due to collision or crash incidents. Of the 32,000 industr...
Posted: Aug 14, 2024
The fronting market continues its strong growth into 2024 but is becoming increasingly complex, according to a recent report by Conning. This growth is driven by trends in the managing general agent (MGA) sector, rising demand for capacity, and ro...
Posted: Aug 13, 2024
Fathom, the flood risk intelligence organisation, part of reinsurance giant Swiss Re, and catastrophe model developer Aon’s Impact Forecasting, have been granted a contract by Public Safety Canada, to enhance its understanding of flood hazar...
Posted: Aug 13, 2024
The United States has been hit with record heat, wildfires and Hurricane Beryl in July alone, with the country experiencing the second highest number of year-to-date billion dollar disasters, according to the National Oceanic and Atmospheric Admin...
Posted: Aug 13, 2024
Aegis Professional Risk, part of Aegis General Insurance Agency and K2 Insurance Services, has partnered with Sentry Insurance to launch a new Errors and Omissions (E&O) program. Sentry will offer primary and excess coverage up to $5 million f...
Posted: Aug 13, 2024
Meanwhile, the first and only life insurer operating entirely in Bitcoin (BTC), has received regulatory approval from the Bermuda Monetary Authority (BMA) to function as a permanent commercial long-term insurer. This approval follows MeanwhileR...
Posted: Aug 13, 2024
Global re/insurance broking group Aon has announced the appointment of Nick Nudo as Senior Managing Director of Reinsurance for Chicago, effective immediately. Nudo joins Aon from SCOR, where he worked for over 14 years most recently as chief unde...
Posted: Aug 13, 2024
Property and casualty insurer Skyward Specialty Insurance Group Inc. has entered the mortgage re/insurance market and announced that Jean-Philippe “JP” Latour will lead the new unit. In support of this new venture, Latour joined the firm in May 20...
Posted: Aug 13, 2024
The surplus lines market in the state of Florida, US, yielded $1.6 billion in premiums for the month of July, marking a 21% increase compared to July 2023, according to the Florida Surplus Lines Service Office. In its most recent FL Premium Report...
Posted: Aug 13, 2024
Arch Insurance North America has partnered with Cytora, the digital risk processing platform, in a move that is set to further digitise the company’s risk intake and streamline underwriting workflows. From what we understand, Arch Insurance...
Posted: Aug 13, 2024
INSTANDA, a no-code, digital platform for insurance carriers and managing general agents, has hired Professor Andy Pardoe to the position of interim Chief AI Officer, where he will work directly with INSTANDA’s Co-Founder and CEO, Tim Hardcastle,...
Posted: Aug 13, 2024
Analysts at JMP have described the recent selloff in Skyward Specialty Insurance shares as “overdone”, attributing it largely to a misinterpretation of details in the company’s 10-Q disclosure. This misunderstanding, they argue,...
Posted: Aug 13, 2024
Global property and casualty (P&C) insurer Chubb has announced three executive appointments in its finance organisation, effective September 4th, 2024. George Ohsiek has been named Vice President of Chubb Group and Chief Accounting Officer, su...
Posted: Aug 13, 2024
Liberty Mutual Reinsurance (LM Re), a division of Liberty Mutual Insurance Group, has announced a new collaboration with Insurtech firm Sprout, Inc. and Britam, a financial services company serving as the local underwriter. Together, they are intr...
Posted: Aug 13, 2024
Milliman, a global consulting and actuarial firm, estimates that the total economic cost of remediating perfluoroalkyl and polyfluoroalkyl substances (PFAS) contamination in US drinking water systems will range from $120 billion to $175 billion. P...
Posted: Aug 13, 2024
Miller, the independent specialist reinsurance and insurance broker, has appointed Cedric Thevenot as an Account Executive for Sports and Entertainment, effective September 2nd 2024. He is based in Paris, working closely with Didier Loiseau, Head...
Posted: Aug 13, 2024