Reinsurance News
Howden Tiger, the reinsurance broking arm of Howden, recently announced the appointment of Estevam Souza to the position of Head of Operations, Brazil. Antonio Jorge Rodrigues, Head of Howden Tiger Brazil, expresses enthusiasm about Souza joining...
Posted: Mar 04, 2024
American National Group is to transfer Specialty Markets Group (SMG), a writer of credit-related insurance products based in the US, to Core Specialty. Mark Walker will join Core Specialty as President of the newly formed Financial Services Divisi...
Posted: Mar 01, 2024
According to analysts at Fitch Ratings, the combination of a strong earnings generation, the stabilisation of financial markets, and the move to the accounting standard IFRS17 of major reinsurers, has led to a “strong recovery” in rein...
Posted: Mar 01, 2024
According to analysts at Fitch Ratings, the combination of a strong earnings generation, the stabilisation of financial markets, and the move to the accounting standard IFRS17 of major reinsurers, has led to a “strong recovery” in rein...
Posted: Mar 01, 2024
Insurers are said to be facing a “significant risk” with regards to data privacy, which could be aggravated further by the widespread adoption of artificial intelligence (AI). However, the processing of extensive quantities of personal...
Posted: Mar 01, 2024
Brazilian reinsurer IRB (Re) has reported its best underwriting result since 2019, as an improved portfolio performance on the back of better pricing and exposure reduction resulted in underwriting profit of approximately USD 31 million (R$ 155m)...
Posted: Mar 01, 2024
Swiss Re Institute has raised its forecast for US economic growth in 2024 to 2.2%, citing significant “carry-over effects” from the previous year’s strong performance. This revision reflects a statistical phenomenon where prior y...
Posted: Mar 01, 2024
Specialty property insurer Palomar Holdings has added Thomas Bradley to the company’s Board of Directors. Commenting on his appointment, Bradley said: “I am excited for the opportunity to join Palomar’s distinguished Board. I look forward to helpi...
Posted: Mar 01, 2024
Lockton expects a positive rate environment to continue in the first half of 2024, despite 1.1 renewal activity suggesting the reinsurance market is stabilising following difficult treaty renewals a year earlier. Rates for reinsurance catastrophe...
Posted: Mar 01, 2024
Marsh McLennan, a re/insurance broker, in collaboration with the Ukrainian government and Lloyd’s, announced the expansion of its Unity insurance facility (Unity) to now cover war risk insurance for ships carrying all non-military cargo. Initially...
Posted: Mar 01, 2024
According to Aon, the Smokehouse Creek Fire in Texas has already burned more than a million acres, becoming one of the largest fires in recorded state history and potentially contributing to total aggregate losses in the hundreds of millions USD....
Posted: Mar 01, 2024
According to Aon, the Smokehouse Creek Fire in Texas has already burned more than a million acres, becoming one of the largest fires in recorded state history and potentially contributing to total aggregate losses in the hundreds of millions USD....
Posted: Mar 01, 2024
FG Financial Group, Inc. (FG Financial) and FG Group Holdings Inc. (FG Group Holdings) have completed the previously announced merger pursuant to which FG Group Holdings merged with and into FG Group LLC, with FG Group LLC surviving as a wholly-ow...
Posted: Mar 01, 2024
AXA XL, the P&C and specialty risk division of global insurer AXA, has made two strategic senior appointments, including the promotion of Mark Steddon to Head of Crisis Management, UK & Lloyd’s and GCUO. Steddon previously served as...
Posted: Mar 01, 2024
In its preliminary results, International General Insurance (IGI) has revealed that full year 2023 net income will reach $118.2 million, up from $89.2 million in 2022. IGI also anticipates an increase in gross written premiums to $688.7 million fo...
Posted: Mar 01, 2024
As per Gallagher Re’s analysis of rating actions by AM Best, the number of downgrades of US P&C re/insurers jumped significantly in the eight months to the end of August 2023 compared with the calendar year 2022. Negative rating actions report...
Posted: Mar 01, 2024
RLI Corp., the specialty insurer, has promoted Kerrick Porter to the role of Vice President, RLI Executive Products Group, effective May 17, 2024. Porter will take over the role from Chad Berberich, who will be retiring on May 17 2024 after 21 ye...
Posted: Mar 01, 2024
According to analysts at J.P. Morgan, mergers and acquisitions (M&A) could be making a return to the Lloyd’s space. Historically, there was a lot of M&A activity in this market, with analysts highlighting that the number of listed Lloyd...
Posted: Mar 01, 2024
Fidelis Insurance Holdings Limited, the Bermuda-domiciled re/insurer, has reported underwriting income of $327.3 million and a combined ratio of 82.1% for the full-year 2023, compared to $120.4 million and a combined ratio of 91.9% a year earlier,...
Posted: Mar 01, 2024
Aon has announced the appointment of Tracy Lee Kus as Head of North Asia, comprising Japan and Korea, with immediate effect. In the new role, Kus will reportedly work closely with Tatsuya Yamamoto, Head of Aon Japan, and Kevin Kim, Head of Aon Kor...
Posted: Mar 01, 2024
Insurance and reinsurance broker Miller’s expansion into the parametric insurance market will be led by Alice Glenister, who joins the firm from Mastercard where she was Director of Insurance. Miller’s newly formed parametric team will...
Posted: Mar 01, 2024
Global insurance and reinsurance broking group Marsh McLennan has appointed David Liston as the Chief Commercial Officer (CCO), US and Canada, effective immediately. He will have a dual line of reporting to Pat Tomlinson, Chief Executive Officer,...
Posted: Mar 01, 2024
Apollo and Innovative Risk Labs have partnered to launch “first-of-its-kind” insurance product JustParent, a novel solution that aims to de-risk parental leave for small and medium sized UK businesses. JustParent was designed to enable businesses...
Posted: Mar 01, 2024
Despite concerns over the frequency of failures in the global Battery Energy Storage Systems (BESS) market, insurers are increasingly ready to support the sector, a new report reveals. The report, titled “Batteries Not Excluded: Getting the...
Posted: Mar 01, 2024
Flood specialist JBA Risk Management has warned about the risks associated with the failure to use good quality data and sophisticated climate change intelligence to understand the impact of floods on physical assets that would impact investors’ p...
Posted: Mar 01, 2024