Reinsurance News

Global insurer Zurich has reported strong growth across all businesses in the first year of its 2023-2025 financial cycle, with the highest-ever Group business operating profit (BOP) up 21% to $7.4 billion, along with reporting its highest-ever re...

Posted: Feb 22, 2024

Following a solid year, specialist insurer Beazley has revealed that as well as an ordinary dividend, shareholders will receive an additional capital return in respect of 2023, anticipated to be around $300m. The firm has also provided an update t...

Posted: Feb 22, 2024

Global insurer AXA’s P&C and specialty risk division, AXA XL, recorded a 4.2 percentage point improvement in its combined ratio in 2023 to 93.2%, as gross written premiums (GWP) and other revenues rose 7% year-on-year to €53 billion, des...

Posted: Feb 22, 2024

Tension in the Middle East could drive down insurance premium volumes, with Marine Cargo, Marine War, Aviation Cargo, Aviation War, Political Risk / Violence and Trade Credit insurance being the classes that most likely would be impacted , accordi...

Posted: Feb 22, 2024

Coalition, an active cyber threat insurance provider, has released its Cyber Threat Index 2024, offering insights into cybersecurity trends from 2023 and emerging threats for 2024. The index projects a substantial 25% increase in common vulnerabil...

Posted: Feb 22, 2024

Singapore-based risk consultancy firm, Kairos Risks Solutions has announced the appointment of Albert Lim as Managing Director, Southeast Asia. Kairos also has a presence in Shanghai and it primarily develops insurance products such as parametric,...

Posted: Feb 22, 2024

Nationwide Ventures, the investment arm of the renowned insurance and financial services company, has made a significant investment in CLARA, further solidifying their bond. This investment stems from Nationwide’s $350 million investment fun...

Posted: Feb 22, 2024

As reinsurance market conditions remain favourable after the 1.1 2024 renewals, Bermuda-based re/insurer Arch Capital is predicting further improvement in its loss ratio as well as growth opportunities in the property catastrophe reinsurance marke...

Posted: Feb 21, 2024

Ascot Group, a global specialty insurance firm, has announced the launch of its Marine & Energy Treaty reinsurance business. Alex Kirkby has been appointed as Senior Vice President and Head of Marine & Energy, Bermuda, with support from Em...

Posted: Feb 21, 2024

SRCC (Strikes, Riots, Civil Commotions, and Civil Unrest) as a product does work, but the way some insurers are underwriting it does not, according to IQUW’s Dan Callow, who stated that this is due mainly due to terms & conditions as well as a...

Posted: Feb 21, 2024

Neptune Flood, a private flood insurance company, has recently introduced its new excess flood insurance product. This insurance offers additional coverage beyond what’s provided by the National Flood Insurance Program (NFIP). With this exce...

Posted: Feb 21, 2024

Aon’s previously announced $13.4 billion acquisition agreement with middle-market P&C broker NFP continues to gain traction, with the waiting period having now expired under the Hart-Scott-Rodino (HRS) Antitrust Improvements Act of 1976....

Posted: Feb 21, 2024

Bermuda-based holding company, Assured Guaranty has named Mark C. Batten non-executive director to its Board of Directors, appointed to serve on the Board’s Audit, Risk Oversight and Finance Committees, effective February 19, 2024. The executive’s...

Posted: Feb 21, 2024

In the latest report by Fitch Ratings, the insurance industry in the United Arab Emirates (UAE) is depicted as steadily advancing, with notable improvements in various sectors. Despite facing challenges in 2022, particularly in the motor insurance...

Posted: Feb 21, 2024

Fixle, Inc. has officially launched from American Family Insurance, where it was originally incubated. According to Fixle, the firm is transforming home ownership and management with its “cutting-edge” approach to home maintenance, rep...

Posted: Feb 21, 2024

Marsh McLennan Agency (MMA), a subsidiary of Marsh, has signed agreements to acquire two Louisiana-based middle-market agencies, Querbes & Nelson (Q&N) and Louisiana Companies. According to the firm, upon closing of the transactions, Louis...

Posted: Feb 21, 2024

Skyward Specialty Insurance Group, Inc. has posted a net income of $29.3 million for the fourth quarter of 2023, compared to $20.4 million for the same period last year. Net income for the year ended 2023 was $86.0 million, compared to $39.4 milli...

Posted: Feb 21, 2024

Bermuda-based specialty insurer and reinsurer, SiriusPoint, has reported a core combined ratio of 89.1% in its full year 2023 results, marking a return to core underwriting profit after a combined ratio of 101.6% in 2022. For the year, core underw...

Posted: Feb 21, 2024

CatX, the regulated digital marketplace connecting insurers, reinsurers and brokers with alternative capital, has strategically partnered with risk modeller Moody’s RMS to support brokers and cedents in accessing a broader capacity base and model...

Posted: Feb 21, 2024

Topsail Re has announced that Christopher Miller has joined as Executive Vice President and Chief Strategy Officer of Topsail Re, as well as President of Topsail Capital Partners. Miller holds almost 25 years of experience in the industry, with ex...

Posted: Feb 21, 2024

Specialty insurer Beazley has announced the merger of its in-house Cyber Services team with its wholly owned cyber security company Lodestone, creating an integrated cyber risk management company, Beazley Security. Beazley explained that the new c...

Posted: Feb 21, 2024

Aon plc, the global professional services firm, has appointed Phil Smaje as Global Chief Broking Officer, transportation and logistics for Commercial Risk. He will be based in Aon’s London office and report to Lee Meyrick, Global Industry Specialt...

Posted: Feb 21, 2024

Bermuda-based reinsurer Conduit Re recorded a rise in gross premiums written (GPW) in 2023 to $931.4 million, as reinsurance revenue increased 61% year-on-year to $633 million and the company’s combined ratio strengthened considerably to 72....

Posted: Feb 21, 2024

AI insurtech Concirrus has revealed a 204.6% surge in revenue for the fiscal year ending in December 2023, marking a pivotal shift towards profitability in the latter half of the year. This comes amidst a tumultuous period for the global insurtech...

Posted: Feb 21, 2024

Gallagher Re, a reinsurance broker, anticipates a surge in investments in cyber catastrophe bonds in 2024, following the successful launch of PoleStar Re Ltd. (Series 2024-1) in December 2023. PoleStar Re was the first full 144A cyber catastrophe...

Posted: Feb 21, 2024