Reinsurance News

Donegal Group, the US primary holding company, has posted a 9.1% increase in net premiums written (NPW) in the second quarter of 2024, climbing to $247.2 million, compared to last year’s $226.5 million. According to the firm, the increase in...

Posted: Jul 29, 2024

Pan-African reinsurer Continental Reinsurance Plc has reported a net reinsurance service result, so underwriting profit, of NGN 9.14 billion (USD 5.6m) for 2023, a 108% increase from 2022’s NGN 4.4 billion (USD 2.7m). The firm’s reinsurance revenu...

Posted: Jul 29, 2024

India-based insurtech InsuranceDekho has received a composite insurance broking licence from the Insurance Regulatory and Development Authority of India, allowing the firm to offer reinsurance broking in addition to its insurance broking services....

Posted: Jul 29, 2024

Resilience, a cyber risk company, has appointed Killian Brady as its new Chief Underwriting Officer, responsible for overseeing all underwriting activities for the company’s expanding portfolio that includes middle market and large enterpris...

Posted: Jul 29, 2024

Brown & Brown, Inc. has entered into an agreement to acquire Quintes Holding B.V. (Quintes) from Aquiline Capital Partners, with the deal expected to finalise in the fourth quarter of 2024. Founded in 2012 by Gijsbert van de Nieuwegiessen, Qui...

Posted: Jul 29, 2024

Chicago-domiciled insurer, CNA Financial Corporation has reported a net income of $317 million for the second quarter of 2024, a solid increase from the previous year’s $283 million. At the same time, the company stated that net investment l...

Posted: Jul 29, 2024

Global insurance group Enstar is set to be acquired by existing investor Sixth Street in a $5.1 billion transaction, with Liberty Strategic Capital, J.C. Flowers & Co. LLC, and other institutional investors participating in the deal. Upon clos...

Posted: Jul 29, 2024

HDI Global, a commercial and specialty lines insurer, has announced the opening of its office in Dubai, after receiving regulatory licence from Dubai Financial Services Authority (DFSA), and the appointment of Willem van Wyk as the Managing Direct...

Posted: Jul 29, 2024

Bermuda-based insurer and reinsurer Aspen has announced the appointment of Christian Dunleavy as Group President and CEO of Aspen Bermuda Limited, and Mark Pickering as Group Chief Financial Officer & Treasurer. Effective August 1, 2024, both...

Posted: Jul 29, 2024

According to data collected by global specialty re/insurer Chaucer, successful cyber attacks against UK utility companies increased to 48 in 2023, representing a 586% increase over the seven cases seen in 2022. The attacks have caused sensitive da...

Posted: Jul 29, 2024

Jan Hrevus has been named to lead the joint reinsurance initiatives of Gallagher Re, a reinsurance broker, and Renomia, an insurance brokerage in Central and Eastern Europe, in the Czech Republic and across Central & Eastern Europe (CEE). Form...

Posted: Jul 29, 2024

Specialist insurer Beazley has announced the appointment of Jessica Schappell as Head of Asia Pacific (APAC). In her new role, Schappell will report directly to Paul Bantick, Global Head of Cyber Risks at Beazley. She will be responsible for leadi...

Posted: Jul 29, 2024

Large primary insurer Chubb successfully renewed its Global Property Catastrophe Reinsurance Program for its North American and International operations, significantly raising the retention for the North American program while adding a new layer o...

Posted: Jul 29, 2024

AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has bolstered its Asian senior leadership with the appointment of Todd Wilhelm as Head of Specialty, Asia, and Guillaume Parard as the Head of Propert...

Posted: Jul 29, 2024

BMS Group, an independent specialist insurance and reinsurance broker, has entered into an agreement to acquire David Roberts & Partners (DR&P), a UK-based insurance broker, from European mid-market private equity firm, Inflexion. Founded...

Posted: Jul 29, 2024

Global insurance and reinsurance broking group Aon has said that new changes to the UK’s listing regime could “help boost economic growth and innovation on the UK stock market.” The Financial Conduct Authority (FCA) recently unveiled t...

Posted: Jul 29, 2024

Hampden Risk Partners’ Syndicate 2689 at Lloyd’s (HRP) has appointed Giancarlo D’Alessandro as head of portfolio underwriting. An experienced veteran across the sector, D’Alessandro’s 13-year career spans lead underwriting roles at maj...

Posted: Jul 29, 2024

Three new companies have recently become members of the International Underwriting Association (IUA), a trade organisation representing the London insurance market, highlighting the continued expansion of the industry. The IUA now represents 81 fi...

Posted: Jul 29, 2024

According to a recent poll from Reinsurance News, the re/insurance industry appears to be unsure in regards to how big of an impact the recent CrowdStrike IT global outage will have on the standalone cyber insurance market. For those who need a re...

Posted: Jul 26, 2024

USAA has announced that Jeff Wallace, the firm’s current Chief Financial Officer (CFO), will take on a new role as Chief Audit Executive. Brett Seybold, who is currently the Senior Vice President and Senior Financial Officer for USAA’s prope...

Posted: Jul 26, 2024

$0.96 billion industry-wide loss experienced by US cyber insurance policyholders impacted by the CrowdStrike IT outage has been forecasted by cyber insurance provider Coalition, a low figure compared to the losses of natural catastrophe events tha...

Posted: Jul 26, 2024

Ivans, a division of Applied Systems, has released the results for the second quarter of 2024 from the Ivans Index, which showed that premium renewal rate change for all major commercial lines of business, except Workers’ Compensation, are up year...

Posted: Jul 26, 2024

Cincinnati Financial Corporation has announced its financial results for the second quarter of 2024 reporting a net income of $312mn, 42% lower when compared to the $534mn reported in the same period last year. The $222mn decrease in Q2 2024 net i...

Posted: Jul 26, 2024

While property reinsurance renewals experienced modest price declines at the mid-year renewals, casualty classes saw the greatest renewal premium increases, which could keep advancing, broker Gallagher has observed. Talking about the reinsurance m...

Posted: Jul 26, 2024

MAPFRE RE, the reinsurance arm of Madrid-headquartered insurer MAPFRE, has reported that premiums, which include the reinsurance and global risks businesses, increased by 5.5%, reaching over €4.3 billion, in the first half of 2024. Of the €4.3 bil...

Posted: Jul 26, 2024