Reinsurance News

Hamilton Lane, a global private markets investment management firm, has announced the creation of a specialised Insurance Solutions team, to be led by John Brecker. Moreover, the firm formalised its long-standing efforts to serve insurers and enha...

Posted: Aug 05, 2024

Kova Professions, the specialist MGA focused on Professional Indemnity (PI), has announced the appointment of Sarah Morrison as Senior Underwriter. With two decades of industry experience, Morrison’s deep expertise in the PI sector will further en...

Posted: Aug 05, 2024

The Federation of European Risk Management Associations (FERMA) has called upon the Hungarian Presidency to ensure holistic approach to European competitiveness and simplification of regulatory maze. The organisation recently published its Contrib...

Posted: Aug 05, 2024

AM Best, the global credit rating agency, has revised the outlook to stable from positive for Eureka-Re SCC (Eureka) (Barbados). The Financial Strength Rating has been upgraded to A- (Excellent) from B++ (Good) along with the Long-Term Issuer Cred...

Posted: Aug 05, 2024

Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has achieved an 82% year-on-year rise in net underwriting earnings across its insurance and reinsurance businesses for the second quarter of 2024, as the firm’s pro...

Posted: Aug 04, 2024

Global insurer AIG expects its 2025 calendar year combined ratio to come in the same or lower than the one reported in 2023, mainly as the result of actions taken as part of its AIG Next reorganization and expense reduction program. This news foll...

Posted: Aug 02, 2024

Global property and casualty (P&C) insurer Chubb has appointed Leander Metzger as Regional Executive Officer, Eastern Region, for Continental Europe, Middle East & North Africa (EMEA), effective January 1st, 2025. Metzger will be based in...

Posted: Aug 02, 2024

Fairfax Financial Holdings Limited has announced its financial results for the second quarter of 2024, reporting net earnings attributable to shareholders of $915.4 million, which compares to the $734.4 million seen in the second quarter of 2023....

Posted: Aug 02, 2024

Cayman Islands-domiciled reinsurer Bay Harbor Re has recently announced the appointment of Mark LaManna as Senior Vice President (SVP) of Casualty Underwriting. LaManna brings 35 years of industry experience to his new role, with expertise in casu...

Posted: Aug 02, 2024

InsurTech wefox has successfully completed two transactions to exit the German insurance market, aligning with the company’s strategy to focus on profitable market positions of critical size If you recall, wefox’s plans to exit the Ger...

Posted: Aug 02, 2024

Ambac Financial Group has completed its acquisition of Beat Capital Partners, a London-based insurance underwriting and managing general agency (MGA) incubation platform. The acquisition follows an announcement on June 5, 2024, where Ambac disclos...

Posted: Aug 02, 2024

Insured losses from wildfires are mounting due to increased activity in Canada and the US, with 574 active fires in Canada and 95 in the US as of August 1, according to Aon’s weekly catastrophe report. In Canada, the wildfire in Jasper National Pa...

Posted: Aug 02, 2024

MDS Brazil, a subsidiary of the Ardonagh-owned MDS Group, has finalised the acquisition of D’Or Consultoria, a broker with expertise in health, dental, life insurance, and pensions, which is part of Rede D’Or São Luiz S.A. This acquisition signifi...

Posted: Aug 02, 2024

Specialty insurance provider Trisura Group has announced its financial results for the second quarter of 2024, reporting a net income of $27.1 million, which according to the firm, is comparable to Q2 2023’s $26.8 million, which included cer...

Posted: Aug 02, 2024

AM Best has upgraded the Financial Strength Rating of Skyward Specialty Insurance Group’s subsidiary insurance companies from “A-” to “A” (Excellent) rating with a stable outlook. Skyward Specialty’s members Long-Term Issuer Credit Ratings (Long-T...

Posted: Aug 02, 2024

International specialty insurance firm, Ryan Specialty Holdings, Inc. has reported a Q2 2024 total revenue growth of 18.8% year-over-year to $695.4 million compared to last year’s $585.1 million. According to Ryan Specialty, this increase was prim...

Posted: Aug 02, 2024

West P&I Club, an insurance provider to the global maritime and offshore industries, has announced plans to open to a new regional office in Dubai, set to be led by Captain Gagan Dhillon, who has been recruited as CEO (Dubai). With this, West...

Posted: Aug 02, 2024

In their results for the second quarter of 2024, SiriusPoint’s combined ratio deteriorated six points year on year to 89%, compared to the previous year’s 83%, driven primarily by lower favorable prior year loss reserve development. Th...

Posted: Aug 02, 2024

In Q2 2024, Reinsurance Group of America (RGA), a global life and health reinsurer, reported a 17.5% year-over-year increase in consolidated net premiums, reaching $3.9 billion compared to $3.3 billion in the previous year. Consolidated net premiu...

Posted: Aug 02, 2024

Ryan Specialty, an international specialty insurance intermediary, has announced a definitive agreement to acquire US Assure Insurance Services of Florida, Inc., a Jacksonville-based specialist in builder’s risk insurance that will be integr...

Posted: Aug 02, 2024

AXA XL and U.S. Marine Insurance Group (US MIG) have entered into an underwriting agreement to expand its Inland Marine insurance offerings in the supply chain and transportation sectors. Founded in 2015, U.S. Marine Insurance Group is an underwri...

Posted: Aug 02, 2024

Insured losses from the CrowdStrike-linked global IT outage will fall between $300 million and $1 billion, as per a new report from Guy Carpenter. For those unaware, On July 19, CrowdStrike, a leading cybersecurity technology provider, released a...

Posted: Aug 02, 2024

Global insurer AXA’s P&C and specialty risk division, AXA XL, has revealed that gross written premiums and other revenues were up 7% to €32.5 billion in H1 of 2024, while its combined ratio was 90.2%, down 0.7 points from the same period of 20...

Posted: Aug 02, 2024

Buruj, a multi-line non-life insurance underwriter and insurance group MedGulf, have signed a non-binding Memorandum of Understanding (MOU) to evaluate a potential merger between the two companies. The MOU aims to establish a framework for the str...

Posted: Aug 02, 2024

KYND, a UK-based cyber risk management solutions provider, has announced its expansion into the US market. This expansion brings KYND’s innovative and straightforward approach to cyber risk analysis to a new market, addressing the insurance...

Posted: Aug 02, 2024