Reinsurance News
Credit insurer Coface has reported its first half of 2024 results with an improved combined ratio of reinsurance and a net income of €142.3 million, up 10% compared to the same period the year prior. For H1 2024 the insurer also recorded a consoli...
Posted: Aug 13, 2024
Kairos Risk Solutions, a Singapore-based boutique insurance solutions consultancy, has signed an agreement with Thailand’s CHAZ Insurance Brokers to offer expertise in Parametric and Trade Credit Insurance. Kairos will assist CHAZ with marketing a...
Posted: Aug 13, 2024
Analysts at Morningstar DBRS predict that the total insured losses from the recent UK riots will be manageable for British insurers, estimating that they will remain below £250 million. The impact on the insurance industry is expected to be limite...
Posted: Aug 12, 2024
Insurance brokerage firm, Brown & Brown has announced the appointment of Stephen P. Hearn to its board of directors. H. Palmer Proctor, Jr., Brown & Brown’s lead independent director and chair of the Nominating/Corporate Governance Committ...
Posted: Aug 12, 2024
Global specialist insurer Hiscox has gone live with its Google Cloud-backed generative artificial intelligence (AI) underwriting model for sabotage and terrorism insurance quotes. Considered the London insurance market’s first underwriting model o...
Posted: Aug 12, 2024
African Risk Capacity (ARC) Ltd., the parametric insurer and financial affiliate of the ARC Group, has released its 2023 annual report, revealing a net profit of $13 million, a significant recovery from a $29 million loss over the past two years....
Posted: Aug 12, 2024
Aventum, an international insurance and reinsurance group, is investing in the development of an innovative AI Underwriting Assistant, following its inaugural Bear Cave Innovation Challenge. Every member of staff across Aventum was encouraged to p...
Posted: Aug 12, 2024
TMG Insurance Services, LLC (The Mutual Group), an integrated insurance operations platform serving the mutual industry, has announced the appointment of Patrick Markowski as senior vice president and chief operating officer. AS COO, Markowski wil...
Posted: Aug 12, 2024
As Florida’s property insurance market improves on the back of reforms, Insurance Commissioner Michael Yaworsky has revealed that Progressive is committed to investing in the state, just days after Hurricane Debby’s landfall in the Big Bend...
Posted: Aug 12, 2024
AM Best, a credit rating agency, has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Martello Re Limited, an insurance and reinsurance company based in Hamilton, Bermuda, the outlo...
Posted: Aug 12, 2024
Vietnam National Reinsurance Corporation (VINARE) has announced its financial results for the first half of 2024, reporting a total revenue of VND1,696 trillion, around $68 million dollars, an 8.2% increase year-on-year and attaining 58.1% of the...
Posted: Aug 12, 2024
Howden, a global insurance intermediary group, has acquired UK health and life insurance broker, Help Me Compare Group Limited (ActiveQuote) and its subsidiaries (HMCGL), in a move that is set to bolster Howden’s position across the health i...
Posted: Aug 12, 2024
Sven Althoff, Member of the Executive Board for P&C at Hannover Re, said today that the global reinsurer is not expecting a change in P&C market sentiment despite another active period for catastrophe losses, notably from secondary perils....
Posted: Aug 12, 2024
Rokstone, a speciality re/insurance MGA and part of Aventum Group, has announced the appointments of Stuart Lee as Chief Actuary and Martin Thomas as Head of Underwriting Management. These appointments are expected to enhance decision-making and o...
Posted: Aug 12, 2024
Maiden Holdings has reported a $10.0 million net loss for the second quarter of 2024, compared to a net loss of $2.9 million from the second quarter of 2023. At the same time, the firm posted an underwriting loss of $9.8 million for Q2’24, c...
Posted: Aug 12, 2024
Global insurer QBE has announced the appointment of Ed Rainsford as Chief Risk Officer for Australia Pacific. Rainsford has been with QBE Insurance for a decade, holding various senior roles. He joins the QBE Australia Pacific business from the QB...
Posted: Aug 12, 2024
Aon, a global professional services firm, has released its 2024 Intangible versus Tangible Risks Comparison Report, underscoring the need for businesses across Europe, the Middle East, and Africa (EMEA) to reassess their cyber insurance and intell...
Posted: Aug 12, 2024
Global reinsurer Hannover Re’s Supervisory Board has appointed Brona Magee as a member of the Executive Board, effective January 1st, 2025. Magee succeeds Klaus Miller on the Executive Board, who will remain with the firm in an advisory role. Sinc...
Posted: Aug 12, 2024
Specialty and P&C re/insurer Canopius Group has revealed that its net insurance revenue for H1 2024 was $980 million, up 24% from the same period of 2023, while its net combined ratio (discounted) improved to 85.4%. Meanwhile, the firm’s...
Posted: Aug 12, 2024
PwC has announced the appointment of Gareth Henty as the new Head of Pensions and named Mark Jennings as head of the pensions employer covenant and restructuring team. This move comes as PwC’s pensions practice has been through a period of growth...
Posted: Aug 12, 2024
Large reinsurer Hannover Re has reported a 21% rise in Group net income to €1.2 billion for the first half of 2024, with an 8.8% increase in property and casualty (P&C) reinsurance revenue as large loss costs came within budget at €566 million...
Posted: Aug 12, 2024
GuideOne Insurance Company, a provider of property and casualty insurance and risk management solutions, has announced the appointment of Travis Sheets as Senior Vice President (SVP) and General Counsel. GuideOne outlined that in his new role, “Sh...
Posted: Aug 12, 2024
In 2023, Aon observed that only 6 out of 175 US Property and Casualty (P&C) companies were upgraded by AM Best from an “A-” to an “A” rating based on their own merit, which is below the 5-year average of 9 upgrades per year. In the first half...
Posted: Aug 12, 2024
Zesty AI, a provider of climate and property risk analytics solutions powered by artificial intelligence (AI), and Amica Mutual Insurance, a provider of auto, home and life insurance, have expanded their long-standing partnership. According to the...
Posted: Aug 12, 2024
Ernesto de Lima has been appointed as the new CEO of Oneglobal’s Central America operation, who will aim to drive the company towards new achievements and sustainable growth in the region. A highly experienced insurance and reinsurance professiona...
Posted: Aug 09, 2024