Reinsurance News
Chubb, the global property and casualty (P&C) insurer, has appointed Lyndsey Christofer as Executive Vice President, Head of North America Casualty for Major Accounts. Based in New York, Christofer brings more than two decades of expertise acr...
Posted: Aug 15, 2024
Lockton Re, the reinsurance division of a privately-owned independent insurance broker, has announced a new partnership with global reinsurer Ariel Re. This collaboration will allow placements to be made through Lockton Re’s SAGELink, an API-drive...
Posted: Aug 15, 2024
Global specialty lines re/insurer Canopius has hired industry veteran Steve Mills as Head of Casualty in the US, reporting to Lisa Davis, CEO of US & Bermuda. He is currently based in the Greater Atlanta area where Canopius is continuing to ex...
Posted: Aug 15, 2024
Insurer and reinsurer Aspen Insurance Holdings Limited grew its reinsurance gross written premiums (GWP) 42% in the second quarter of 2024 to $566.2 million, as the segment generated underwriting income of $44.8 million with a combined ratio of 86...
Posted: Aug 15, 2024
The U.S. private market insurance industry loss from Hurricane Debby is not expected to exceed $1.5 billion, while losses to the National Flood Insurance Program (NFIP) from the event will be less than $300 million, according to Moody’s RMS Event...
Posted: Aug 15, 2024
Bermuda-based Fidelis Insurance Holdings Limited has reported net income of $53.7 million for the second quarter of 2024, despite catastrophe and large losses rising 113% year-on-year as the combined ratio weakened by 10.7 percentage points to 92....
Posted: Aug 15, 2024
Prime Insurance Company, an excess and surplus lines insurance carrier, has announced the appointment of Peggy E. Day as its Executive Senior Vice President of Operations and Strategic Advisor to the CEO. Day has over three decades of experience i...
Posted: Aug 15, 2024
Maritime risks insurer Falvey Insurance Group has announced that Mike Falvey will transition from Chief Executive Officer (CEO) to Executive Chairman, effective January 1st, 2025. Falvey maintains his role as Chairman of the Board, overseeing the...
Posted: Aug 15, 2024
After witnessing strong topline growth across 2022 – 2023, Islamic and Takaful insurers based in the Gulf Cooperation Council (GCC) region are continuing to benefit from favourable growth prospects, which is mainly due to higher insurance de...
Posted: Aug 15, 2024
US primary insurer Progressive’s property business loss estimate reduced by $60.4 million in the month of July, reflecting further development on the May storms. Back in June, property and auto-focused insurance group Progressive announced n...
Posted: Aug 14, 2024
Oliver Wyman, a global management consulting firm and a business of Marsh McLennan, has announced a collaboration agreement with AKA Consulting, an actuarial and risk consulting firm based in the Cayman Islands. Through this collaboration, Oliver...
Posted: Aug 14, 2024
Cowbell, a cyber insurance provider for small and medium-sized enterprises (SMEs), has announced the appointment of insurance veteran Stephen Moss to its Board of Directors. Moss brings three decades of industry experience and is currently Group H...
Posted: Aug 14, 2024
American Integrity Insurance, a regional provider of property insurance, has announced that it now offers coverage for homes up to 75 years old in South Carolina. Since entering the South Carolina market in 2022, the company has been steadily expa...
Posted: Aug 14, 2024
More than 2.6 million homes across 14 US states are at moderate to very high risk of wildfire damage during 2024’s wildfire season, with a total reconstruction cost of $1.3 trillion, according to a new report from CoreLogic, a provider of pr...
Posted: Aug 14, 2024
Reinsurers are expected to cover around four-fifths of the loss in insured property damage caused by Hurricane Beryl in the Caribbean, which is estimated US$500-million, according to Ian Chinapo, Head of Guardian Holdings Limited (GHL), a local in...
Posted: Aug 14, 2024
After a record 2023, the insurance-linked securities (ILS) market again set records in the first half of 2024, with strong catastrophe bond issuance on the back of robust demand from investors, as the secondary market experienced record high tradi...
Posted: Aug 14, 2024
As the California property market experiences a dynamic and challenging time, it faces an escalating risk of wildfires, a peril that needs multiple perspectives in order to understand it, experts stated during Guy Carpenter’s recent Californ...
Posted: Aug 14, 2024
Sompo, a global provider of commercial and consumer property, casualty, and specialty re/insurance, has appointed Aditya V. Tibrewala as Chief Executive Officer of Sompo Insurance (Thailand) PCL (Sompo Thailand), effective immediately. He will con...
Posted: Aug 14, 2024
Amwins, a distributor of specialty insurance products and services, has launched the “Tees-to-Green” flood insurance programme in partnership with Floodbase and supported by highly-rated carriers. This programme is designed to cover US...
Posted: Aug 14, 2024
In their results for the second quarter of 2024, Conifer Holdings has reported a 57.5% decrease in gross written premiums (GWP), falling to $19.0 million, compared to the $44.7 million figure from the second quarter of 2023. According to the firm,...
Posted: Aug 14, 2024
Global insurance broker Acrisure has announced a new leadership team for the Eleven Network, its UK-based retail insurance broking network. Jeff Hobson has been appointed CEO of Eleven Network, joining from Burns & Wilcox, where he previously...
Posted: Aug 14, 2024
Pacific Life Re, the global life and health reinsurer and wholly owned subsidiary of Pacific Life, has bolstered its protection business in Asia Pacific with senior appointments. Tyson Johnston, the current Managing Director of the Australian busi...
Posted: Aug 14, 2024
US primary insurer Allstate has entered into a definitive agreement to sell its Employer Voluntary Benefits business to StanCorp Financial Group, Inc. (The Standard) for $2 billion in cash, adjusted for the closing balance sheet. The transaction i...
Posted: Aug 14, 2024
According to a new AM Best report, a strategic market reset by global reinsurers in 2023 has led to robust technical profits and a shift in industry dynamics. AM Best’s Market Segment Report, Strong Technical Profits Bolster Momentum for Global Re...
Posted: Aug 14, 2024
Aviva has revealed that its group operating profit was £875 million in H1 of 2024, up 14% from the £765 million recorded in H1 of 2023. Meanwhile, Aviva’s General Insurance premiums grew 15% in H1 to £6 billion, with UK&I up 18% and Cana...
Posted: Aug 14, 2024