Reinsurance News
The cancellation of Viridium Gruppe’s planned partial purchase of Zurich Germany’s life book has renewed concerns that regulators are scrutinising private equity (PE) backed consolidators in the life sector more closely, which may reduce the pace...
Posted: Feb 19, 2024
AXA XL, the P&C and specialty risk division of global insurer AXA, has announced the addition of Chris Cheng to its Hong Kong team as Head of Casualty. “Chris brings a wealth of experience and will be responsible for developing our casualty po...
Posted: Feb 19, 2024
Cennairus Cyber, a wholesale insurance brokerage specialising in cyber and technology errors and omissions insurance, has announced a partnership with Ascend, a financial operations automation platform. This collaboration is poised to streamline f...
Posted: Feb 19, 2024
Sertis, an MGA in the multifamily insurance market, has expanded into a further 32 states across the United States. According to Sertis, this move will “transform” the insurance landscape for brokers and agents, while “significan...
Posted: Feb 19, 2024
MIC Global, a full-stack embedded micro insurance provider, and WRMS Global, a climate and agriculture risk management company, have partnered to deliver parametric flood resilience cover to merchants and gig workers in India. According to the ann...
Posted: Feb 19, 2024
Lloyd’s, the global insurance and reinsurance marketplace, has confirmed Claire Schrader as General Counsel, responsible for managing legal risk at Lloyd’s. Schrader, who also will also remain a member of Lloyd’s Executive Committee, had been perf...
Posted: Feb 19, 2024
Legal & General’s latest PRT Monitor has revealed a remarkable surge in global Pension Risk Transfer (PRT) market activity throughout 2023, with transactions totaling over £85 billion in the UK and US combined. This marks a record-breaki...
Posted: Feb 19, 2024
Whitespace, a fully digital e-trading platform and Verisk company, has revealed that Ardonagh Specialty’s Price Forbes has “dramatically widened” its adoption of the Whitespace Platform. All lines of business will now reportedly...
Posted: Feb 19, 2024
Specialist venture capital investor B.P. Marsh & Partners Plc has revealed in an update on trading that it increased its Net Asset Value from £190m to £204m in the six months ended 31 July 2023. B.P. Marsh additionally reported that three disp...
Posted: Feb 19, 2024
Specialist venture capital investor B.P. Marsh & Partners Plc has revealed in an update on trading that it increased its Net Asset Value from £190m to £204m in the six months ended 31 July 2023. B.P. Marsh additionally reported that three disp...
Posted: Feb 19, 2024
Global reinsurance giant Munich Re has highlighted how AI exposures within traditional insurance policies possess the ability to become a significant unexpected risk to insurers’ portfolios. This comes as the industry evaluates how to transfer cap...
Posted: Feb 19, 2024
Canada Life Re, comprised predominantly by the Capital and Risk Solutions division, has reported “record” $794 million in earnings for 2023, as its parent company, Great-West Lifeco, sees strong earnings of $3.7 billion for the year. For the fourt...
Posted: Feb 19, 2024
PERILS, the independent Zurich-domiciled catastrophe insurance data provider, has disclosed its fourth and final insurance industry loss estimate for Cyclone Gabrielle of NZ $2.174 billion. Cyclone Gabrielle impacted the North Island of New Zealan...
Posted: Feb 19, 2024
In the recent January 1, 2024, renewal season, casualty reinsurance markets experienced relatively stable conditions despite escalating risks in the industry, according to a report by AM Best. While concerns over social inflation, litigation fundi...
Posted: Feb 19, 2024
FWD Group Holdings Limited, an Asian insurance company, is considering selling shares among other options after delaying a planned initial public offering (IPO), as reported in a recent news article by Bloomberg. If a deal proceeds, it is reported...
Posted: Feb 19, 2024
FWD Group Holdings Limited, an Asian insurance company, is considering selling shares among other options after delaying a planned initial public offering (IPO), as reported in a recent news article by Bloomberg. If a deal proceeds, it is reported...
Posted: Feb 19, 2024
Kinsale Capital Group has reported a net income of $103.4 million for the fourth quarter of 2023, compared to a net income of $67.2 million from the fourth quarter of 2022. The company also reported net income of $308.1 million for the year ended...
Posted: Feb 19, 2024
Fitch Ratings predicts that the Saudi Arabian insurance market will strengthen in 2024 and 2025 due to new regulations aligned with the ‘2030 Saudi Vision’. These regulations mandate higher minimum capital requirements, prompting insur...
Posted: Feb 19, 2024
In a recent media call following the release of Swiss Re’s 2023 earnings report, Christian Mumenthaler, the CEO of the renowned reinsurance company, highlighted the inevitable transition towards achieving net-zero emissions globally. Mumenth...
Posted: Feb 16, 2024
Australian insurer IAG has revealed loss activity in H1 of the fiscal year (FY) 2024 eroded the retention layer beneath its aggregate reinsurance treaty by $250 million. According to the firm, natural peril and catastrophe losses cost the company...
Posted: Feb 16, 2024
US specialty insurance group Assurant has completed its April 2024 reinsurance renewal early, purchasing $1.38 billion of catastrophe protection in excess of a $150 million retention, which is $25 million higher than last year. Assurant has shifte...
Posted: Feb 16, 2024
Wholesale insurance brokerage and underwriter, Burns & Wilcox, has opened its new Boston office, subsequently appointing Peter Kestenbaum as the Managing Director. Kestenbaum will report to Doug Legters, Regional Vice President, Northeast. Leg...
Posted: Feb 16, 2024
Fairfax Financial Holdings Limited has announced its financial results for the fiscal year 2023 net earnings of $4,381.8 million, compared with fiscal year 2022 net earnings of $3,374.2 million. In Q4, the net earnings were $1,328.5 million, compa...
Posted: Feb 16, 2024
According to GlobalData, a prominent data and analytics company, the Chinese property insurance sector is anticipated to soar at a compound annual growth rate (CAGR) of 12.1% over the period of 2024 to 2028. This growth trajectory is expected to e...
Posted: Feb 16, 2024
The Lloyd’s Market Association (LMA) has released revised clauses in response to the Oil Price Cap Coalition’s announcement of additional measures to reduce the possibility of circumvention of the oil price cap. From what we understand, the releas...
Posted: Feb 16, 2024