Reinsurance News
Global insurance provider RSA Insurance has announced a number of changes to its Commercial Lines leadership team, who will lead the combined business following the acquisition of NIG/FarmWeb. In September 2023 RSA agreed to acquire Direct Line’s...
Posted: Feb 27, 2024
To compete against international reinsurers’ better prices, and increase profitability, insurers in countries part of the Commonwealth of Independent States (CIS), will likely grow their reinsurance business, but this would also bring new risks, a...
Posted: Feb 27, 2024
Rating agency AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Marco Re Limited (Guernsey), simultaneously assigning a stable outlook to these ratings. Macro Re, a wholl...
Posted: Feb 27, 2024
Swiss Re, a global reinsurance firm, recently released a report highlighting key insights from the insurance-linked securities (ILS) market in 2023, which emphasises a surge in new issuance and strong investment performance in the catastrophe bond...
Posted: Feb 27, 2024
Global specialty broker Price Forbes appointed Sarah Horler as its new Deputy Chief Executive Officer, effective May 2024. Horler’s appointment marks a significant addition to the leadership team of Ardonagh Specialty’s insurance segme...
Posted: Feb 27, 2024
After another year of more than $100 billion of insurance and reinsurance industry losses from natural catastrophes in 2023, and with no major influx of fresh capital, the hard market environment is expected to persist, according to Munich Re̵...
Posted: Feb 27, 2024
AXA XL has announced that it’s US Mid-Market insurance business is extending its general liability coverage for mid-size businesses by rolling out its new XL Plus broadening endorsement, which offers more than two dozen expanded protections....
Posted: Feb 27, 2024
K2 Insurance Services, an independent specialty insurance program manager, has announced the appointment of Richard Coello as CEO of K2 Group Holdings Limited (K2 International), effective March 1, 2024. Coello has a successful track record of bui...
Posted: Feb 27, 2024
In the latest update from Gallagher Specialty on the global property insurance market, significant shifts are noted, particularly in the USA region. Reports indicate smoother treaty renewals towards the end of the year, with reinsurers largely mai...
Posted: Feb 27, 2024
CDPQ has revealed it will sell 2,312,000 common shares of Intact Financial Corporation (IFC), representing approximately 1.3% of the issued and outstanding common shares of IFC as of February 26, 2024. According to CDPQ, the common shares are bein...
Posted: Feb 27, 2024
CRC Group, a North American wholesale specialty insurance distributor, has appointed Vince Colosimo as Executive Vice President in the company’s New York City Downtown office. The firm also announced that Colosimo will assume the role of Office Pr...
Posted: Feb 27, 2024
Amphitrite Underwriting London (Amphitrite), a prominent marine Managing General Agent (MGA), has obtained full authorization from the UK Financial Conduct Authority (FCA), effective as of January 31, 2024. Having commenced operations in 2018, Amp...
Posted: Feb 27, 2024
Global Fintech company Acrisure has announced the establishment of its Southeast Region, which will be led by Dave Hoover and is expected to be the firm’s largest Region by revenue. The new Southeast Region encompasses Acrisure’s busin...
Posted: Feb 27, 2024
Munich Re, one of Europe’s largest reinsurers, has reported a net result of €4.6 billion for the 2023 financial year, which is above its revised €4.5 billion profit target announced in October, supported by a reinsurance result of €3.9 billi...
Posted: Feb 27, 2024
White Mountains Insurance Group, Ltd. has announced the election of Reid T. Campbell to its Board of Directors. This follows his retirement as President of the Company. This marks the conclusion of a remarkable thirty-year tenure at White Mountain...
Posted: Feb 27, 2024
Capital management of South Korea insurers are expected to continue to feel pressured due to the implementation of new standards, such as Korean-Insurance Capital Standards (K-ICS) and IFRS 17, according to a recent report by AM Best. The agency’s...
Posted: Feb 27, 2024
WTW, a global re/insurance broker, has recently launched the Bermuda Excess Casualty Construction Facility to meet the needs of clients within the construction industry, specifically in the North American market. This new facility offers additiona...
Posted: Feb 27, 2024
Australian insurer QBE has named Kevin Shallow as Executive Director for International Markets (IM). Subject to regulatory approvals, he will start his new role on March 4th, 2024. Previously, Shallow developed QBE’s portfolio solutions underwriti...
Posted: Feb 27, 2024
MSL Captive Solutions, Inc (MSLCS), the managing general underwriter, has hired Sue Russo as Chief Underwriting Officer (CUO), effective immediately. Russo joins the firm from Voya where she previously led the successful launch of the company̵...
Posted: Feb 26, 2024
UnipolSai, an Italian financial services company, recently announced that its Board of Directors has approved a plan aimed at streamlining the company’s structure. This plan involves merging UnipolSai with three other companies—Unipol Financ...
Posted: Feb 26, 2024
Insurance and reinsurance broker Aon has hired Ralf Mutzke as Director Cyber Security – M&A and Transaction Advisory Services at Aon Deutschland. A renowned figure across the industry, Mutzke is a seasoned cyber security expert having wo...
Posted: Feb 26, 2024
Sedgwick, the global provider of technology-enabled risk, benefits and integrated business solutions, has revealed that efforts tied to the organisation’s international claims fraud strategy saved its clients £49.4 million in 2023. Q123 saw...
Posted: Feb 26, 2024
Executive Chairman Ron Lockton is returning to the role of Chief Executive Officer of Lockton has, the independent insurance broker has recently announced. “The Lockton Board of Directors, Mr. Lockton and former CEO Peter Clune have mutually agree...
Posted: Feb 26, 2024
Global re/insurer Markel Group Inc. has announced the transition of Mike Heaton to Executive Vice President and Chief Operating Officer (COO), effective immediately. He will continue to report to Tom Gayner, Chief Executive Officer and be based in...
Posted: Feb 26, 2024
Qatar General Insurance and Reinsurance has announced its 2023 financial results reporting a net loss of nearly QR 1.465bn, compared to a loss of QR 532.113mn in 2022. The Qatar-based company also reported unrealized losses of QR 1.6bn, compared t...
Posted: Feb 26, 2024