Reinsurance News
MNRB Holdings Berhad (MNRB), has released its financial results for the first quarter ended 30 June 2024 (Q1 FY2025), which includes an RM86.1 million ($19.42 million) net profit from Malaysian Re, the company’s reinsurance and retakaful bus...
Posted: Aug 16, 2024
According to a recent report from Aon, with appropriate risk controls in place, Funded Reinsurance (Funded Re) transactions can support greater new business volumes in the bulk annuity market over time. This statement from Aon follows the Prudenti...
Posted: Aug 16, 2024
CLARA Analytics, a provider of artificial intelligence (AI) technology for insurers, has announced the launch of Claims Document Intelligence Pro, a new product designed to revolutionise insurance claims optimisation. The introduction of Claims Do...
Posted: Aug 16, 2024
Property and casualty (P&C) insurer Skyward Specialty has bolstered its regional Contract Surety teams with a number of key appointments. Firstly, in its Northeast region, the P&C insurer has appointed Gregg Callahan as regional vice presi...
Posted: Aug 16, 2024
Rokstone, a speciality re/insurance MGA and part of Aventum Group, has announced the appointment of Laurence (Larry) Burrows as Head of its newly established US Excess Casualty division. Rokstone’s U.S. Excess Casualty division will cover a...
Posted: Aug 16, 2024
A cautious deployment of capital has contributed to reinsurance discipline, AM Best analysts have highlighted, as they continue to observe the lack of new entrants in the market that typically feature in previous hard cycles. “Historical underperf...
Posted: Aug 16, 2024
Global insurance and reinsurance broking group Aon has announced three senior appointments to strengthen its EMEA Transportation and Logistics team. Jan Steven Kelder has been named Industry Specialty Leader, Transportation and Logistics, EMEA. In...
Posted: Aug 16, 2024
United Insurance Brokers Limited (UIB) has hired Hugo Cardona to lead its Latin America and Caribbean treaty reinsurance business out of Miami. Cardona joins from Wind Field International LLC, where he served for over six years, chiefly as Managin...
Posted: Aug 16, 2024
ATL, a broker specialising in commercial (re)insurance solutions, has strengthened its leadership team by appointing Álvaro Mier as joint Chief Operating Officer and Chief Financial Officer. Mier brings over 15 years of experience in global financ...
Posted: Aug 16, 2024
Arch Mortgage Insurance Company (Arch MI) has obtained over $203 million of indemnity reinsurance on a pool representing approximately $30.5 billion of mortgages from Bellemeade Re 2024-1 Ltd., its Bermuda special purpose reinsurer. This transacti...
Posted: Aug 16, 2024
DUAL, the specialist underwriting arm of Howden Group Holdings, has announced the appointment of Scott Noerr as Chief Information Officer (CIO) to drive the company’s technology initiatives. In his new role, Noerr will primarily focus on driving i...
Posted: Aug 16, 2024
The Insurance Council of Australia (ICA) and the Planning Institute of Australia (PIA), representing the insurance sector and urban planning professionals respectively, are calling on governments at all levels to address growing housing challenges...
Posted: Aug 16, 2024
Oliver Wyman, a global management consulting firm and a business of Marsh McLennan, has announced the appointment of Paul Ricard as the new Asia-Pacific (APAC) Head of Insurance and Asset Management, effective immediately. In his new role, Ricard...
Posted: Aug 16, 2024
According to a recent poll by Reinsurance News, the main obstacles to the global adoption of parametric insurance are the lack of available data and models, along with inadequate education about these solutions. To clarify, parametric insurance is...
Posted: Aug 15, 2024
Brazilian reinsurer IRB (Re) has announced financial results for the second quarter of 2024, reporting a net income of R$ 65 million (USD 12m), an underwriting profit of R$ 34 million (USD 6.2m) and an improved combined ratio of 106% from last yea...
Posted: Aug 15, 2024
Many global insurers reported healthy profits in 2023, and with reinsurance market conditions improving for buyers, the insurance sector was once again growth-oriented in the second quarter of 2024, according to re/insurance broking group Aon. Acc...
Posted: Aug 15, 2024
According to global credit ratings agency AM Best, the recent global rise in healthcare utilisation, combined with the prospect of increasing medical inflation has the potential to “expand the role of health reinsurance.” A new report...
Posted: Aug 15, 2024
Reinsurance technology platform Supercede has announced the appointment of Sarah Pearson as its first senior operations manager, with immediate effect. Pearson’s hire is one of the first results of the USD$15 million Series A funding secured by Su...
Posted: Aug 15, 2024
Large US primary insurer Allstate has disclosed total catastrophe losses for the month of July of $587 million, which includes an initial loss estimate of $226 million for Hurricane Beryl. Allstate’s catastrophe losses for July include 20 ev...
Posted: Aug 15, 2024
Insurers in Florida are preparing for an active Atlantic storm season in 2024 by purchasing increased reinsurance limits and coverage to protect their balance sheets, according to a recent KBRA report. The report also highlighted that a combinatio...
Posted: Aug 15, 2024
Privately insured losses in the US from Hurricane Debby, the fourth named storm of the 2024 North Atlantic hurricane season and the third hurricane in the past decade to make landfall in Florida’s Big Bend region, will be close to $1.4 billion, ac...
Posted: Aug 15, 2024
Markel Group has announced that Grant Smith has been appointed as Director of Marine & Energy Liability for International Specialty, effective immediately. This appointment is part of Markel’s ongoing efforts to strengthen its internatio...
Posted: Aug 15, 2024
Talanx Group, the parent company of Hannover Re and HDI, increased its total group net profits by 32% in the first half of 2024, exceeding €1 billion for the first time. Based on this number, Talanx affirmed that it remains highly confident of exc...
Posted: Aug 15, 2024
Marsh, an insurance broker and risk advisor that is part of Marsh McLennan, has introduced a new insurance solution aimed at the transportation and storage of carbon dioxide (CO2). This innovative solution is available for projects worldwide and t...
Posted: Aug 15, 2024
Global reinsurance broker Gallagher Re has confirmed that Guy Carpenter’s Global Head of Distribution, Lara Mowery, is joining the firm in a senior role. Mowery joined Guy Carpenter, the reinsurance broking arm of Marsh McLennan, in 1997 to...
Posted: Aug 15, 2024