Reinsurance News
Clients with excellent loss experience should feel a lot more optimistic going into their 2024 renewals, according to Mark Hubbard, Managing Director, Global Property, Gallagher Specialty. Speaking in the firm’s global property insurance mar...
Posted: Feb 26, 2024
Clyde & Co’s Insurance Growth Report has revealed that mergers and acquisitions (M&A) activity worldwide in the insurance sector was down in 2023, reaching the lowest level for a decade. According to the firm, there were 346 completed M...
Posted: Feb 26, 2024
According to a new report from Morgan Stanley, relative to other sub-sectors of insurance, reinsurers “continue to have a solid path”, generating strong ROE, with robust underwriting and steady premium growth. Morgan Stanley noted that...
Posted: Feb 26, 2024
Acrisure Re, the reinsurance division of fintech company Acrisure, has announced the appointment of Jim Botsis as Head of Chicago, and his addition to the North American Executive Committee. Botsis is to take over his new role immediately. He will...
Posted: Feb 26, 2024
Australian primary insurer Suncorp Group Limited has reported a rise in group net profit after tax (NPAT) of 5.4% to $582 million, as General Insurance gross written premium (GWP) rose 16.3% to $6.9 billion on the back of customer growth, targeted...
Posted: Feb 26, 2024
The latest Insurance Labor Market Study, conducted by the insurance recruiting firm, The Jacobson Group, in collaboration with re/insurance broker, Aon, provides insights into the staffing trends within the insurance industry for 2024. According t...
Posted: Feb 26, 2024
Barents Re, an independent reinsurance group, has announced the appointment of Gary Callaghan as its new Chief Executive Officer (CEO), with founder Gerardo Garcia assuming the role of Executive Chairman of the company. These appointments were app...
Posted: Feb 26, 2024
Goosehead Insurance, Inc., an independent personal lines insurance agency, has announced the transition of Mark Jones from Chairman and Chief Executive Officer (CEO) to Executive Chairman of the company, effective July 1st, 2024. Mark Miller, Pres...
Posted: Feb 26, 2024
Florida Peninsula Insurance Company announced the appointment of Nancy Staff as its new Director of Corporate Compliance. With a wealth of experience in law and compliance, Staff is poised to enhance the company’s adherence to regulations an...
Posted: Feb 26, 2024
Cayman Islands-based reinsurer Topsail Re has announced the appointment of Joe Ciriano, a seasoned IT professional, as its new IT Director. Ciriano started his career as a Member of the Technical Staff at AT&T in 1984, holding positions of inc...
Posted: Feb 26, 2024
According to S&P Global Ratings’ latest analysis of the Latin American (LatAm) insurance landscape, the forecast for 2024 suggests a challenging economic outlook due to an anticipated slowdown in global economic growth. S&P predicts...
Posted: Feb 26, 2024
Davies, the specialist professional services and technology business, has made two key senior promotions amidst definitive plans to rebrand Johns Eastern, the specialist third-party administration (TPA) and independent adjusting firm. This is in l...
Posted: Feb 26, 2024
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has reported net underwriting earnings across its re/insurance operations of $5.4 billion for the full year 2023 compared with a loss a year earlier. The positive return...
Posted: Feb 25, 2024
Cover Whale Insurance Solutions, Inc., an insurtech specializing in connected insurance for the commercial auto industry, has appointed Bill Fahrner as Chief Underwriting Officer (CUO), where he will lead the digitally-driven underwriting process....
Posted: Feb 23, 2024
Trust in e-commerce is uneven, while companies have less confidence in digital platforms when selling their goods, consumers are more comfortable using them, according to a Chubb report, which also revealed shopper’s confidence in making an online...
Posted: Feb 23, 2024
Trust in e-commerce is uneven, while companies have less confidence in digital platforms when selling their goods, consumers are more comfortable using them, according to a Chubb report, which also revealed shopper’s confidence in making an online...
Posted: Feb 23, 2024
Rating agency AM Best has revised Fidelis Insurance Holdings Limited and its subsidiaries’ outlooks to stable from negative. AM Best explained that the negative outlook it placed on the ratings in 2023 was based on the execution risk related...
Posted: Feb 23, 2024
AXA XL, the P&C and specialty risk division of global insurer AXA, has announced the promotion of Simon Price to Head of M&A & Title – UK & Lloyd’s. Price has been with the company for seven years, and has held several manage...
Posted: Feb 23, 2024
German property and casualty (P&C) insurers are grappling with mounting pressure due to surging reinsurance expenses, impacting both profitability and operational strategies, as highlighted by S&P Global Ratings, signaling potential adjust...
Posted: Feb 23, 2024
Global aircraft leasing firm AerCap Holdings has collected over $600 million of insurance settlements over the fourth quarter of 2023, for a total of $1.3 billion collected during 2023. “During the fourth quarter of 2023, we recognized recoveries...
Posted: Feb 23, 2024
In a joint effort to address the pressing issue of maritime sustainability, marine insurance experts are calling for closer collaboration with shipowners to develop decarbonisation strategies. A white paper, co-authored by underwriting firm Atrium...
Posted: Feb 23, 2024
Arturo, a property specialist offering AI-based solutions to insurers, has announced the appointment of Jeffrey Taylor as Chief Strategy Officer, as the firm prepares to expand into adjacent markets. Taylor brings a great deal of experience to thi...
Posted: Feb 23, 2024
Venture Insurance Programs has chosen Vortex Weather Insurance, an insurtech specialising in weather risk management for outdoor venue hosts and golf clubs, to be their sole provider of parametric weather insurance policies. This agreement represe...
Posted: Feb 23, 2024
Zurich Asia Pacific (APAC), part of the global insurance group, has recently announced its results for the full year of 2023. The report highlights significant growth in its Property & Casualty (P&C) sector. Throughout 2023, the P&C bu...
Posted: Feb 23, 2024
Insurance giant Allianz has reported a record operating profit of €14.7 billion for the full year 2023, an increase of 6.7% from €13.8 billion in the previous year, driven primarily by the Life/Health (L&H) business segment. Group-wide, total...
Posted: Feb 23, 2024