Reinsurance News
French reinsurer SCOR has joined forces with AIMCOR Group to usher in a new era of efficiency and accessibility in the term life insurance landscape. The new product, AIMCOR QuickLife, is powered by Techficient’s Dynamic Platform, and is und...
Posted: Feb 21, 2024
USQRisk, an international managing general agent specializing in alternative risk transfer, has promoted Tony Harrington-Jones to Chief Operating Officer (COO), based in London. As COO, his remit will include enabling USQRisk’s continued glo...
Posted: Feb 21, 2024
The North American Insurance Composite marshalled by Stonybrook Capital and Weild & Co. was up 2.1% for the week of Feb 9th-16th, “likely setting a record-high weekly close”, with most issues having eclipsed their previous records....
Posted: Feb 20, 2024
The Board of the Texas Windstorm Insurance Association (TWIA) recently voted in favour of the Actuarial and Underwriting Committee’s recommendation to set the 1-in-100 year PML for the 2024 storm season at $6.5 billion. We wrote last week th...
Posted: Feb 20, 2024
In a new report from DBRS Morningstar discussing the Solvency II prudential regime, the rating agency has noted that the new rules are not expected to materially change EU and UK insurer’s risk appetites. DBRS’s analysts explained in t...
Posted: Feb 20, 2024
Duck Creek Technologies, a P&C solutions provider, has welcomed Xceedance, an insurance-focused consulting, technology and data provider, as an inaugural ecosystem partner for reinsurance. Xceedance has been a longstanding collaborator with Du...
Posted: Feb 20, 2024
Enstar has released its full-year 2023 results, announcing net income of $1.1 billion compared to a net loss of $906 million for 2022. The firm’s return on equity (ROE) of 24.2% for the year improved significantly from the prior year. The st...
Posted: Feb 20, 2024
In response to the looming threat of recession, European insurance industry leaders are doubling down on their digitalisation initiatives to enhance customer experiences and streamline operations, according to a recent survey conducted by Informat...
Posted: Feb 20, 2024
The Vatuvara Foundation Fiji, in collaboration with WTW and Fiji-based broker, Insurance Holdings (Pacific) Pte Ltd., has selected the Pacific Catastrophe Risk Insurance Company (PCRIC) to administer a new parametric insurance solution designed to...
Posted: Feb 20, 2024
Lockton, an independent insurance brokerage, has announced that Steve Goldenberg will be joining the firm as their new Executive Vice President (EVP), Operations, reporting directly to Peter Clune, Lockton’s Chief Executive Officer. In this...
Posted: Feb 20, 2024
Truist Financial Corporation has announced it has agreed to sell its remaining stake in Truist Insurance Holdings (TIH), to an investor group led by private equity firms Stone Point Capital and Clayton, Dubilier & Rice (CD&R). This transac...
Posted: Feb 20, 2024
During a week of extensive marketing efforts across the United States and Canada, financial investors have shown significant interest in two key subjects: reinsurance and AXA, according to a Berenberg report. Over the course of 23 investor meeting...
Posted: Feb 20, 2024
Specialist insurance and reinsurance broker BMS has announced the appointment of Craig Douglas as Director of Energy and Complex Liability. Based in Bermuda, Douglas will be reporting to Russell Williams, Head of Liability at BMS in Bermuda. The e...
Posted: Feb 20, 2024
Optalitix, an InsurTech that provides software pricing products to leading UK insurers, has partnered with Quantee, an insurance pricing platform. The two companies are working to create a solution that will enable insurers to quickly quote for bu...
Posted: Feb 20, 2024
Tysers, an independent Lloyd’s broker and member of the Australian AUB Group, has reported revenue of £100 million for H1 of the AU 2024 financial year, as it remains “on track” for future growth. Tysers earnings before interest and ta...
Posted: Feb 20, 2024
As per a new report from Moody’s, claims inflation and increased exposure to weather events are the “main credit risks” for European property & casualty (P&C) insurers in 2024. According to Moody’s analysts, consume...
Posted: Feb 20, 2024
In a recent statement, Fitch Ratings has highlighted the pivotal role of private ownership strategies in shaping the credit outlook for insurers. The credit agency emphasised that the influence exerted by owners on an insurer’s business plan...
Posted: Feb 20, 2024
As Europe’s largest domicile for captive insurance, Guernsey, a British Crown Dependency, leads to insurance business flowing through London’s wholesale insurance markets that would otherwise go somewhere else, causing a positive impact in the UK...
Posted: Feb 20, 2024
PB Fintech’s wholly-owned subsidiary, Policybazaar Insurance Brokers, has been granted In-Principle approval to upgrade its license from Direct Insurance Broker (Life & General) to Composite Insurance Broker by the Insurance Regulatory and Dev...
Posted: Feb 20, 2024
WindBorne Systems, an environmental and weather intelligence company, has recently unveiled its groundbreaking AI forecasting model, WeatherMesh. This innovation holds significant promise for the re/insurance industry, offering improved risk asses...
Posted: Feb 19, 2024
ERS, a specialised UK motor insurance company and part of IQUW Group, has announced that Tom Cummings will be taking on the role of Head of Counter Fraud. In his new position, Cummings will lead ERS’ efforts to combat policy and claims fraud, over...
Posted: Feb 19, 2024
AM Best has downgraded 777 Re’s, the Bermuda-based reinsurance entity of investment firm 777 Partners, credit ratings and maintained its under review with negative implications status. The company offers reinsurance on active and run-off blocks of...
Posted: Feb 19, 2024
Convr AI, an artificial intelligence (AI) company serving commercial insurance organisations, has announced that Lucid Insurance Group will utilise its underwriting workbench to gain greater speed, accuracy and efficiency in their operations start...
Posted: Feb 19, 2024
Mac Armstrong, CEO of Palomar Holdings, expressed satisfaction with the outcomes of the company’s reinsurance treaties renewing on January 1 during the Q4’23 earnings call. Armstrong stated, “As it pertains to our Reinsurance pro...
Posted: Feb 19, 2024
Aventum, an international re/insurance group, has just announced the promotion of Phil Wood to the role of Chief Partnerships Officer, where he will oversee and support the development of new consumer partnerships and Synergy divisions within Aven...
Posted: Feb 19, 2024