Reinsurance News
Global credit ratings agency AM Best has confirmed that it has revised the outlook to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICRs) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term IC...
Posted: Feb 23, 2024
Mosaic Insurance has announced the launch of a suite of specialised financial institution products, offering $25 million in investment management insurance (IMI). The firm’s new asset manager form reportedly combines professional indemnity,...
Posted: Feb 23, 2024
Aon, a global professional services firm, recently announced the appointment of Alicia Goosen to the position of Head of Professional Services Group in the Global Broking Centre (GBC). In this role, she will collaborate with teams from around the...
Posted: Feb 23, 2024
Fidelis Insurance Bermuda Limited (FIBL) has successfully closed a new catastrophe bond in the fifth series of notes issued by its Bermuda-based special purpose insurer Herbie Re Ltd., which will provide Fidelis Insurance Group with $150 million o...
Posted: Feb 23, 2024
Florida-domiciled and expansive primary insurance company, Universal Insurance Holdings, has reported a Q4 2023 combined ratio of 103.7%, an increase of 2.3 points from the comparative quarter, reflecting a higher net loss ratio as the net expense...
Posted: Feb 23, 2024
Gallagher Re, a reinsurance broker, has recently announced the appointment of Wei Hou to the position of Head of Life and Health, UK and Ireland (UK&I). In this role, he will be responsible for developing Life & Health solutions for the UK...
Posted: Feb 23, 2024
Independent personal lines insurance agency Goosehead has reported a net income of $5.4m for the fourth quarter of 2023, mainly due to revenue growth, a significant improvement compared to the $2.6m reported the prior year quarter. According to Go...
Posted: Feb 23, 2024
US primary holding company Donegal Group has announced its financial results for the fourth quarter of 2023, reporting a net loss of $2.0 million, compared to net income of $3.5 million a year earlier. Donegal Group’s combined ratio for Q4 2023 wa...
Posted: Feb 23, 2024
Brightway Insurance, an US personal lines insurance distribution platform, has announced the appointment of Nick Clements as Chief Executive Officer (CEO), effective March 1, 2024. Clements has more than two decades of experience building and scal...
Posted: Feb 23, 2024
According to a report from Business Standard, the Insurance Regulatory and Development Authority of India (IRDAI) is planning to introduce collaterals for reinsurance transactions with Cross Border Reinsurers (CBR). These changes aim to protect bo...
Posted: Feb 23, 2024
EPIC Insurance Brokers & Consultants (EPIC) has appointed Adam Meyerowitz as Chief Operating Officer as part of the firm’s expansion plans. A risk management provider, delivering diverse and specialised P&C, employee benefits, private clie...
Posted: Feb 22, 2024
Resilience, a cyber risk management firm, has fortified its position in combating cyber threats by acquiring BreachQuest, an innovative incident response technology solution. With the digital landscape evolving rapidly and risks escalating, this s...
Posted: Feb 22, 2024
Fitch Ratings reports that new regulations for Indonesian insurers and reinsurers are likely to reduce the number of companies operating in the sector and encourage a healthier competitive environment. The country’s Financial Services Author...
Posted: Feb 22, 2024
Global reinsurer SCOR’s South Korean branch has strategically partnered with Lydia AI, a health AI start-up, to augment SCOR’s Virtual Underwriting Solution (VUS) with point-of-underwriting predictive health analytics to create holisti...
Posted: Feb 22, 2024
Global re/insurance broker Howden has announced new appointments to its Capital, Advisory & Placement’s Surety team, naming Chris Coomans Head of Natural Resources, James Royal Head of Mining and Marc Underwood Trade Finance Lead. All the new...
Posted: Feb 22, 2024
In a significant move within the insurance industry, Global Atlantic Financial Group (Global Atlantic) and Manulife Financial Corporation have successfully finalized a $10 billion reinsurance transaction. The deal, which was initially unveiled las...
Posted: Feb 22, 2024
Bermuda-based insurer and reinsurer, Everest Group, Ltd., has named Jill Beggs as the new Chief Operating Officer (COO) of its reinsurance arm, with Jiten Voralia set to take over as Reinsurance Head of North America Treaty, effective immediately....
Posted: Feb 22, 2024
Bloomberg Intelligence (BI) predicts that alternative-reinsurance vehicles will likely maintain their position as the primary source of new capacity in 2024, potentially impacting pricing dynamics in the reinsurance market, according to a recent r...
Posted: Feb 22, 2024
In a recent Q&A session with journalists, Gregory Roberts, Chief Underwriting Officer (CUO) at Conduit Re, discussed the significant growth seen in the specialty reinsurance sector and the promising outlook for 2024. Roberts described the spec...
Posted: Feb 22, 2024
European re/insurer Zurich has made some adjustments to its reinsurance coverages for 2024 with the addition of a new $300 million top catastrophe layer to its Europe all perils tower, while the retention on its U.S. all perils tower has come down...
Posted: Feb 22, 2024
John Mason has been appointed as the new Chief Executive Officer of the London market electronic trading platform, PPL. Mason will take up his role in April, succeeding interim CEO Joe Gordon, whose tenure will end following a handover period. Ste...
Posted: Feb 22, 2024
Global insurance and reinsurance firm AXA has purchased significantly more protection for its European exposures at the January 2024 renewals, growing its European windstorm reinsurance in particular by 40% to reach €3.9 billion. AXA has purchased...
Posted: Feb 22, 2024
Verisk, a global data analytics and technology provider, has reported an increase in its consolidated and organic constant currency (OCC) revenues in Q4’23, primarily due to solid growth in underwriting and more moderate growth in claims. Co...
Posted: Feb 22, 2024
Gallagher Specialty has created a Parametric Insurance Centre of Excellence designed to respond to changing market conditions and client demand. The centre of excellence reportedly includes a team of climate risk specialists, parametric brokers, a...
Posted: Feb 22, 2024
Sedgwick, a global provider of claims management, loss adjusting and technology-enabled business solutions, has announced the appointment of veteran David Arick as Managing Director, Global Risk Management. Taking over the role from March 1, 2024,...
Posted: Feb 22, 2024