Reinsurance News
Everest Insurance, the insurance division of Bermuda-based re/insurer Everest Group, has appointed Stephen Buonpane to lead its US Wholesale and Programs business and named Danielle Stewart as Chief Operating Officer. In his new role, Buonpane wil...
Posted: Aug 07, 2024
The CrowdStrike outage is expected to drive greater demand for cyber insurance as it highlighted the risks businesses and individuals are to face when impacted with an event like this, according to Hiscox Group Chief Underwriting Officer (CUO), Jo...
Posted: Aug 07, 2024
CFC, an insurance provider specialising in emerging risks and cyber coverage, has announced the expansion of its UK Cyber Development team with two new appointments. Joe Tracey has been promoted to the role of Cyber Development Leader for the UK &...
Posted: Aug 07, 2024
White Mountains Insurance Group has released its Q2 2024 results, revealing that gross written premiums within its Ark/WM Outrigger segment rose to $697 million, up from $606 million in the same period of 2023. Meanwhile, Ark/WM Outrigger’s...
Posted: Aug 07, 2024
Super-regional P&C insurance holding company, Heritage Insurance Holdings, Inc., has reported a year-on-year improvement in its second second quarter 2024 combined ratio to 92.5% from 95.1%, as net income more than doubled in the period. The f...
Posted: Aug 07, 2024
The world’s oldest insurance and reinsurance marketplace, Lloyd’s, has had its financial strength rating (FSR) upgraded to A+ (superior) from A (excellent) by AM Best, as Chief Financial Officer (CFO) Burkhard Keese confirms the early...
Posted: Aug 07, 2024
Independent insurance broker Lockton has appointed Tim Ryan to oversee the firm’s largest region as U.S. President, effective immediately. In his new role, Ryan will use his deep knowledge and expertise to drive growth, develop strategy, set prior...
Posted: Aug 07, 2024
The Baldwin Group has announced that total revenue climbed 14% year-over-year to $339.8 million in the second quarter of 2024, compared to $297.1 million from the second quarter of 2023. At the same time, the company also posted organic revenue gr...
Posted: Aug 07, 2024
Whitespace, a Verisk company and fully digital e-trading platform, has launched a new contract data library and enhanced contract builder functionality. The upgraded functionality significantly improves Whitespace’s user interface, enabling users...
Posted: Aug 07, 2024
Global insurance and reinsurance broking group Aon has appointed Ollie Barcock as the new Leader of Aviation Reinsurance for Global ReSpecialty, effective immediately. Barcock will be based in London and report to Richard Wheeler, co-leader of Glo...
Posted: Aug 07, 2024
Legal & General reports a “stable operating performance” in the first half of 2024, with core operating profit of £849 million slightly ahead of the £844 million reported in the same period the year prior. Profit after tax stood at £223 millio...
Posted: Aug 07, 2024
Global insurance intermediary group Howden has strategically partnered with Ultimate Risk Solutions (URS) to utilise their advanced risk-management suite, encompassing economic and regulatory capital management, asset modelling, enterprise risk ma...
Posted: Aug 07, 2024
Aon has renewed its academic partnership with Columbia University until 2027 to include research on the correlation of climate risk across various perils and regions. This renewal follows a successful first phase, where Columbia’s latest pee...
Posted: Aug 07, 2024
Net zero target initiatives are driving increased interest in ESG, which, combined with the democratisation of the private market space in general, is leading to broader transparency efforts in the private credit segment, according to Jon Napoli,...
Posted: Aug 07, 2024
Greenlight Capital Re, Ltd. has reported a dip in its combined ratio to 99.8% for the second quarter of 2024 compared to 96.2% a year earlier, as underwriting income decreased by $5.1 million year-on-year amid elevated losses from severe convectiv...
Posted: Aug 07, 2024
Independent London market wholesale insurance broker, Evolin Broking Limited, has launched its casualty division with a number of senior hires. Firstly, the organisation has appointed Kalani Settle-Rhodes as head of casualty, where she will be bas...
Posted: Aug 07, 2024
Pine Walk Capital Limited, the specialist MGA platform and a wholly owned subsidiary of The Fidelis Partnership, has launched Novagen, a new renewables MGA. The new MGA will reportedly focus on underwriting the full spectrum of renewable technolog...
Posted: Aug 07, 2024
As of August 5th, 2024, residual market insurer the Texas Windstorm Insurance Association (TWIA) had received over 27,000 claims for Hurricane Beryl and has made payment on more than 10,000 claims at a cost of roughly $120 million. Hurricane Beryl...
Posted: Aug 07, 2024
According to a new report from Swiss Re, global insured losses from natural catastrophes have reached $60 billion in H1 of 2024, with severe thunderstorms, mainly in the US, accounting for 70% of the total figure. At $60 billion, global insured lo...
Posted: Aug 07, 2024
IGI has revealed that net income for Q2 of 2024 was $32.8 million, down from $40.5 million in the same quarter of 2023, while its combined ratio was 81.2%, up from 73.5% in the same period last year. According to the firm, its net income was large...
Posted: Aug 07, 2024
Bermuda-domiciled global re/insurer Everest Group, Ltd., has announced the appointment of veteran Bill Hazelton as Executive Vice President of Everest Insurance® & President of North America Insurance. Hazelton will be taking over the role fro...
Posted: Aug 07, 2024
Phinsys, the finance automation software provider for the re/insurance industry, has opened a regional office in Dubai, marking its entry into the Middle East. The strategic expansion aims to tap into the market with an increasing number of insure...
Posted: Aug 07, 2024
Hiscox Re & ILS, the Group’s reinsurance businesses in London and Bermuda and insurance-linked securities (ILS) activity, produced a strong and improved combined ratio of 73.8% for the first half of 2024, while net premiums written in th...
Posted: Aug 07, 2024
Arch Insurance North America, part of Arch Capital Group Ltd., has announced its acquisition of Allianz’s U.S. MidCorp and Entertainment insurance businesses. This deal follows Arch Insurance obtaining regulatory approval on 25th July. Almost 500...
Posted: Aug 07, 2024
Bowhead Specialty, a provider of casualty and professional liability products, has announced its financial results for the second quarter of 2024, reporting a net income of $5.5 million and a 50.4% increase in gross written premiums (GWP). The fir...
Posted: Aug 07, 2024