Reinsurance News
AXIS Capital has announced the appointment of Stephen Lord as Global Chief Information Officer (CIO) and Robert Barriero as Global Head of Strategic Sourcing and Corporate Real Estate. In his new role as Global CIO, Lord will report directly to CE...
Posted: Feb 28, 2024
In a recent analysis, Fitch Ratings forecasts that the UK life sector will maintain its cautious approach towards funded reinsurance (Funded Re) for bulk annuity transactions, keeping its usage below 30% of premiums from 2024 to 2026. This strateg...
Posted: Feb 28, 2024
Brussels headquartered insurer Ageas has confirmed that it is in the initial stages of considering a possible offer to acquire the entire issued and to be issued share capital of UK insurer Direct Line Insurance Group Plc. According to Ageas, the...
Posted: Feb 28, 2024
LOOP, a Public-Benefit Corporation and Artificial Intelligence-powered auto insurer, has successfully renewed its reinsurance program and will go into effect for an extended 15-month term. The renewed program is led by the same tier-one reinsurers...
Posted: Feb 28, 2024
Financial services holding company Ambac has posted a net loss of $16 million and an adjusted net income of $10 million for the fourth quarter of 2023. Included in the company’s Q423 results is Everspan, the organisation’s specialty pr...
Posted: Feb 28, 2024
Lemonade, a digital insurance firm powered by AI, has reported a 20% year-on-year rise in in-force premium to $747 million for the fourth quarter of 2023, while its gross loss ratio fell 12% to 77% in the quarter. Lemonade’s customer count increas...
Posted: Feb 28, 2024
The Geneva Association (GA) and Wellcome have recently published a joint report providing a clear framework for understanding how climate change impacts people’s health. This report also offers recommendations for health and life insurance c...
Posted: Feb 28, 2024
International insurance group Ageas has reported an improved reinsurance segment combined ratio of 84.1% for 2023, which is considerably stronger than the 103.3% seen in 2022, attributed to significantly lower claims. Year-on-year, Ageas Re’...
Posted: Feb 28, 2024
PoloWorks, a member of the Marco Capital Group, has launched PoloPartners, a joint venture combining the expertise, capability and experience of PoloWorks and PwC UK. PoloPartners has been created to provide the insurance market with a bespoke, te...
Posted: Feb 28, 2024
In a recent report by Morgan Stanley’s analyst team, it’s estimated that social inflation caused $13.3-24.5 billion of excess losses for commercial auto liability from 2013-2022, accounting for 7-13% of total losses in the period. On a...
Posted: Feb 28, 2024
Fusion Specialty (Fusion), a global specialist in M&A insurance and a subsidiary of POP Group Holdings, has appointed Steven Harwood as Managing Partner for M&A in the Asia Pacific (APAC) region. In this new role, Harwood will lead Fusion&...
Posted: Feb 28, 2024
LIIBA, the representative body for London market insurance brokers, has named Andy Bragoli, Global Head of Placement at Howden, as its new chair. At a meeting of LIIBA’s board in February, Bragoli took over the role from Alastair Swift of WTW, who...
Posted: Feb 28, 2024
The Swiss Re Institute has predicted that climate change will have a larger impact on economic losses in the future, with the US and Philippines anticipated to be the hardest hit. As per the firm’s report, four key weather perils, namely flo...
Posted: Feb 28, 2024
Credit insurer Coface has reported its full-year 2023 results, with flat net income at €240.5 million and underwriting income growth of more than 13% to €395.4 million and a combined ratio, net of reinsurance, of 64.3%. Alongside flat net income,...
Posted: Feb 28, 2024
Ryan Specialty has reported full year 2023 revenue of around $2.08 billion, up 20.4%, compared to the $1.73 billion reported in 2022. The firm’s adjusted net income also increased in 2023, growing 20.4% to $375.6 million, compared to $312 mi...
Posted: Feb 28, 2024
Barbuss a provider of specialised financial, claims services and specialised coverage for the risk industry, has announced that it has acquired 100% of the shares of KVDS, an independent marine surveyor based in Antwerp, Belgium. From what we unde...
Posted: Feb 28, 2024
According to credit ratings agency AM Best, a staggering number of insurers are relying on outside asset managers to handle a portion of their investment portfolios. In a recent report released by the firm, it highlights that the percentage of lif...
Posted: Feb 28, 2024
ReSource Pro, a provider of business process solutions for the insurance industry, has appointed Ernie Feirer to the position of Senior Vice President (SVP), Carrier Practice. In this role, he will lead a team of expert insurance professionals ded...
Posted: Feb 28, 2024
FWD Group, a pan-Asian life insurance business, has announced it is extending its partnership with Microsoft to provide access to the latest generative artificial intelligence (AI) innovations, while continuing to support FWD’s cloud-first t...
Posted: Feb 28, 2024
David Loughran has been promoted to Chief Operating Officer (COO) of Praedicat, the liability emerging risk analytics company. Loughran, who previously served as Praedicat’s Senior Vice President of Product & Chief Economist, has been wi...
Posted: Feb 28, 2024
Several multilateral financial organisations have collaborated to establish the Alliance of African Multilateral Financial Institutions (AAMFI), under the patronage of Nana Addo Dankwa Akufo-Addo, the President of Ghana. This significant initiativ...
Posted: Feb 28, 2024
In a recent earnings call, Munich Re CEO Joachim Wenning highlighted the imperative need for governmental intervention in the face of escalating cybersecurity threats, shedding light on the limitations of private insurance in covering these risks....
Posted: Feb 27, 2024
Chubb, in collaboration with the National Center for the Middle Market (NCMM), has unveiled the latest insights from the 2023 Year-End Middle Market Indicator (MMI), shedding light on the resilience and growth of middle market companies amidst a b...
Posted: Feb 27, 2024
The Stonybrook Capital and Weild & Co. North American Insurance Composite showed a notable increase of 1.5% during the week of February 16th-23rd, maintaining its record setting performance from the preceding week (Feb 9th-16th), which saw a r...
Posted: Feb 27, 2024
Steadfast Group, a leading Australian insurance brokerage network, announced a 21.4% increase in unaudited underlying Earnings Before Interest, Taxes, and Amortization (EBITA) for 1H24 compared to the same period last year. The underlying EBITA wa...
Posted: Feb 27, 2024