Reinsurance News
Applied Systems has released second quarter of 2024 results of the Applied Rating Index, which shows that average premiums for both Personal Auto lines and Personal Property lines increased year over year, while quarter over quarter, premium rate...
Posted: Jul 25, 2024
BMS Group, an independent specialist re/insurance broker, has announced the promotion of Hannah Watkins to the newly created role of UK chief growth officer, effective immediately. Based in London, Watkins will lead the development and execution o...
Posted: Jul 25, 2024
The growth potential of the UK bulk annuity market has been highlighted by a wave of new entrants, according to Fitch Ratings. Steep interest rate rises in 2022-2023 boosted pension scheme funding levels, making it more affordable for corporates t...
Posted: Jul 25, 2024
Global advisory, broking and solutions firm WTW has revealed that net income for Q2 of 2024 was $142 million, an increase of 48% compared to Q2 of 2023. WTW’s revenue in Q2 of 2024 was $2.27 billion, an increase of 5% compared to the same pe...
Posted: Jul 25, 2024
Marsh, the insurance broking division of Marsh McLennan, has appointed Stephen McKay as UK Advisory Leader, where he will be based in London, reporting to Chris Lay, CEO, Marsh McLennan UK and Giampaolo Scarso, Advisory Leader, International, Mars...
Posted: Jul 25, 2024
Insurance-linked securities (ILS) focused independent asset managers, Twelve Capital and Securis Investment Partners, have announced their intention to merge, creating one of the world’s largest ILS managers with assets under management of $...
Posted: Jul 25, 2024
Goosehead, an independent personal lines insurance agency, has announced its financial results for the second quarter of 2024, reporting an increased net income of $10.9mn, compared to the $7.2mn reported in the same period last year. Mark Miller,...
Posted: Jul 25, 2024
Veteran Richard Harries has been appointed to insurance and reinsurance broker Arthur J. Gallagher & Co.’s Board as a new Director. Harries has more than 35 years of insurance industry experience in the UK and other highly regulated mark...
Posted: Jul 25, 2024
AM Best has placed the credit ratings of SCOR and its main subsidiaries under review with developing implications following the French reinsurer’s publication of an update on its Q2 2024 and full-year 2024 results. In the update, SCOR announ...
Posted: Jul 25, 2024
Preliminary insured losses from the CrowdStrike IT outage for the standalone cyber insurance market are anticipated to fall between $400 million and $1.5 billion, according to CyberCube, a specialist modelling firm for cyber risks and exposures. F...
Posted: Jul 25, 2024
Swiss Re Corporate Solutions, the commercial insurance arm of reinsurance giant Swiss Re, has appointed Kevin Bates as Country Head of Australia & New Zealand, effective November 4th, 2024. Bates succeeds Christine Bell, who has decided to ret...
Posted: Jul 25, 2024
Bermuda-based reinsurer RenaissanceRe Holdings Ltd. (RenRe) has reported underwriting income of $479.3 million and a combined ratio of 81.1% in its second quarter 2024 results, as both fee income and investment income also contributed to another s...
Posted: Jul 25, 2024
Arch Insurance North America, part of Arch Capital Group Ltd., has obtained regulatory approval for its previously announced acquisition of Allianz’s US MidCorp and Entertainment insurance businesses, including select specialty insurance programme...
Posted: Jul 25, 2024
Davies, the specialist in professional services and technology, has promoted Dhara Patel to the newly created role of President and Deputy CEO of its North American business. Patel’s promotion comes as Davies has announced a new go-to-market...
Posted: Jul 25, 2024
GuideOne Insurance Company, a provider of property and casualty insurance and risk management solutions, has promoted Troy Spoonemore to the position of Chief Underwriting & Risk Officer. In his new role, Spoonemore will direct GuideOne’s unde...
Posted: Jul 25, 2024
Despite profit warning and a drop in capitalisation, S&P Global Ratings has affirmed its ‘A+’ long-term insurer financial strength and issuer credit ratings on SCOR SE and related core subsidiaries. The outlook remains stable. The...
Posted: Jul 24, 2024
Global insurance and reinsurance broking group Acrisure has appointed John Tuttle, currently Vice Chairman of the New York Stock Exchange (NYSE), as its new President, effective September 1st, 2024. Tuttle will relocate to Grand Rapids and report...
Posted: Jul 24, 2024
Insurance carriers that have greater exposure to large enterprises are more likely to face the brunt of the losses stemming from the CrowdStrike linked IT outage, says Parametrix Insurance CEO, Jonathan Hatzor. According to the organisation, the e...
Posted: Jul 24, 2024
OneAdvent, a platform specialising in MGA services, has announced a new partnership between one of its Managing General Agents (MGAs) and the hybrid fronting insurer Bridgehaven Specialty UK Ltd. This collaboration will enable Bridgehaven to offer...
Posted: Jul 24, 2024
Global specialty insurer Mosaic Insurance has named Toby Smith as Americas Chief Executive Officer (CEO), effective immediately, based in New York. As part of the firm’s leadership team, Smith will be tasked with spearheading market engageme...
Posted: Jul 24, 2024
Specialist Risk Group (SRG) has agreed to acquire Trilogy Underwriting, marking the second company to join its underwriting pillar, MX, in 2024. Formed in 2013 and Led by Managing Director Chris Blackwell, Trilogy Underwriting specialises in prope...
Posted: Jul 24, 2024
In 2023, insurance resilience either increased or was stable across the natural catastrophe, crop, health, and mortality perils tracked by Swiss Re’s Resilience Index. According to the firm, this reflected a general focus on the shock-absorb...
Posted: Jul 24, 2024
The high costs of natural catastrophes from secondary perils in H1 2024 highlights the burden has shifted from reinsurers to primary insurers, but despite this, losses are still expected to be within each insurer’s budget, according to Berenberg....
Posted: Jul 24, 2024
The Lloyd’s Market Association (LMA) and the International Underwriting Association (IUA) have launched Sustainability Data Standard, a new resource to help standardise the way in which underwriters ask clients about their sustainability data. Wit...
Posted: Jul 24, 2024
According to Insuramore’s global rankings, cyber insurance gross direct premiums written (GDPW) valued at just over USD 15.7 billion in 2023, rising towards more than USD 16 billion if captive insurers are also included too. In a statement,...
Posted: Jul 24, 2024