Reinsurance News
The Cayman Islands National Insurance Company (CINICO), has announced it is now offering home insurance policy with Parametric Coverage. This parametric solution was created to pay out pre-agreed amounts automatically to cover incidental expenses,...
Posted: Aug 08, 2024
Howden Re, the reinsurance and risk advisory arm of Howden, has entered into a partnership with Temblor Inc., the catastrophe modelling company that specialises in seismic hazard and risk assessment, which will see Temblor provide Howden Re with a...
Posted: Aug 08, 2024
Global reinsurer Munich Re is confident that favourable market conditions will persist at the January 1st, 2025, renewals, as the firm sees continued strong demand from buyers and discipline from sellers, according to CEO, Joachim Wenning. “Lookin...
Posted: Aug 08, 2024
Global Indemnity Group (GBLI) has released its results for the first half of 2024, which includes an 83% increase in net income available to shareholders of $21.2 million, compared to $11.6 million from the same period in 2023. GBLI’s operat...
Posted: Aug 08, 2024
Everest Group, Ltd., a provider of reinsurance and insurance solutions, has announced that its insurance division, Everest Insurance, has appointed Brian Zink as Senior Vice President, Head of Everest Specialty Underwriters (ESU) and US Financial...
Posted: Aug 08, 2024
Porch Group, a homeowners insurance and vertical software platform, has reported total revenue of $110.8 million, which increased 12% compared to the same period the prior year, with an improved net loss of $64.3 million in the second quarter of 2...
Posted: Aug 08, 2024
Nexus Underwriting, a specialty Managing General Agent (MGA), has announced the appointment of Seline Low as the new Deputy Head of Accident & Health (A&H) Reinsurance for Asia. Based in Singapore, Low will work alongside Justin Yeo, the H...
Posted: Aug 08, 2024
Liberty Mutual Holding Company Inc. (LMHC) has posted a net income of $717 million for the second quarter of 2024, up substantially from the net loss attributable to LMHC of $585 million in the same period in 2023. At the same time, the organisati...
Posted: Aug 08, 2024
Bermuda-based re/insurer SiriusPoint recently posted its seventh consecutive quarter of positive underwriting results in Q2 2024, partly attributable to new managing general agent (MGA) partnerships and the expansion of existing ones, according to...
Posted: Aug 08, 2024
Bermuda-based re/insurer Hamilton Insurance Group has reported an all-time low combined ratio of 84.4% in the second quarter of 2024 compared to 89.5% in Q2 2023, as underwriting income improved from $34.9 million to $65.3 million. The firm’s gros...
Posted: Aug 08, 2024
Digital insurance company Embroker has appointed Andrew (Andy) Lea as Chief Insurance Officer (CIO) and promoted Kristy Malm as Chief Operating Officer (COO). The firm stated these appointments follow a series of significant milestones for Embroke...
Posted: Aug 08, 2024
Zurich has announced that its group business operating profit (BOP) climbed to a record $4 billion in H1 of 2024, marking an increase of 7% compared to the same period of 2023. The firm’s net income attributable to shareholders also increase...
Posted: Aug 08, 2024
In their results for the second quarter of 2024, Allianz has posted a €3.9 billion operating profit, with all of the company’s segments contributing to this result, whilst the firm’s property & casualty (P&C) segment business p...
Posted: Aug 08, 2024
Bermuda-based Lancashire Holdings Limited has reported that gross premiums written (GPW) increased by $98.2 million, or 8.3% year-on-year to approximately $1.3 billion for the first half of 2024, split $734 million reinsurance and $547 million ins...
Posted: Aug 08, 2024
Legacy acquirer DARAG Group has agreed to sell its North American and Bermuda business entities to the RiverStone Group. According to DARAG, this transaction will simplify its operations, permitting the firm to focus on its core European business....
Posted: Aug 08, 2024
Tokio Marine HCC, a global insurance group based in Houston, Texas, and part of the Tokio Marine Group, one of Japan’s largest and oldest insurance companies, has announced two significant promotions within its UK Trade Credit Division. Fion...
Posted: Aug 08, 2024
Bermuda-domiciled global insurer and reinsurer Everest Group has established a global broker management team which will be led by Anthony Izzo as Chief Global Broking Officer. The new team will be dedicated to the shared priorities of its global d...
Posted: Aug 08, 2024
London-headquartered insurer Beazley has announced a significant rise in its H1 2024 profit before tax, reaching $728.9 million, a sharp increase from the $366.4 million recorded in H1 2023, while the company’s undiscounted combined ratio im...
Posted: Aug 08, 2024
Global reinsurer Munich Re has today reported that its reinsurance business contributed €1.3 billion and €3.2 billion to the Group’s net result in Q2 and H1 2024, respectively, and despite a rise in major loss expenditure, the property and c...
Posted: Aug 08, 2024
RT Specialty, the wholesale distribution division of Ryan Specialty, has promoted Jason Lentz to President of RT Specialty High Net Worth, RT Specialty’s national high net worth personal lines practice. Lentz, who is based in Las Vegas, Nevada, ha...
Posted: Aug 08, 2024
Arden Insurance Services LLC, an MGA focused on insurance for residential condominium associations, has teamed up with Green Shield Risk Solutions, a catastrophe risk mitigation specialist based in Chicago, to tackle the increasing wildfire threat...
Posted: Aug 08, 2024
The Government of Malawi and its Replica partner, the United Nations High Commissioner for Refugees (UNHCR), have received insurance payouts of just over $11.6 million from the African Risk Capacity (ARC) following the 2023/23 El Niño-driven droug...
Posted: Aug 08, 2024
VIPR, a technology solutions provider in the delegated underwriting sector, has recently announced the appointment of Chantal Dawson as Global Head of Customer Success. In her new role, Dawson will enhance VIPR’s account management and custo...
Posted: Aug 07, 2024
London-based insurtech platform for specialty insurance, Insurwave, has entered into a strategic partnership with Ambrey, an organisation within martitime security risk management, which will see both firm’s produce an integrated, comprehens...
Posted: Aug 07, 2024
Areas in the US endangered by wildfires, flooding, and extreme heat saw thousands more people moving in than out in 2023, according to a recent Redfin report. High-fire-risk counties in the US experienced 63,365 more people move in than out, with...
Posted: Aug 07, 2024