Reinsurance News
Gallagher has announced a number of senior appointments to its facultative (fac) reinsurance team, including the hire of Ardonagh’s Claire Burrell as Chief Operating Officer (COO). According to the announcement, the expansion is part of Gallagher’...
Posted: Feb 14, 2024
WTW and The Nature Conservancy (TNC) have announced the purchase of a new coral reef parametric insurance policy that expands coverage around the main Hawaiian islands and increases payouts after qualifying storms. This new policy replaces the fir...
Posted: Feb 14, 2024
Swiss Re’s recently acquired, UK-based provider of water risk intelligence and flood models, Fathom, has strategically teamed up with The World Bank to offer its flood data for non-commercial use, free of charge, to 16 countries. The new agr...
Posted: Feb 14, 2024
Property and casualty insurance, Great American Insurance Group has announced the appointment of Laura A. True as Divisional Vice President of its Cyber Risk Division. In her new role, based in Hartford, Connecticut, True will lead a specialty und...
Posted: Feb 14, 2024
The Actuarial and Underwriting Committee of the Texas Windstorm Insurance Association (TWIA) has recommended that the Board sets the 2024 1-in-100 year PML at $6.5 billion, meaning TWIA could need to purchase even more reinsurance limit for the up...
Posted: Feb 14, 2024
Zurich-based catastrophe insurance data provider PERILS AG has disclosed its initial industry loss estimate for the Australia Christmas storms which affected the states of Victoria, New South Wales, and Queensland, pegging the total at AU$1.395 bi...
Posted: Feb 14, 2024
Global insurer American International Group, Inc. (AIG) has reported slight growth in underwriting income of $7 million for Q4 2023 to $642 million, which included $122 million of total catastrophe-related charges, representing 2.1 loss ratio poin...
Posted: Feb 14, 2024
In a landmark decision, the UK Commercial Court has ruled in favour of insurer’s Covéa and Markel on a non-damage business interruption case linked to the COVID-19 pandemic. The dispute was between the two insurers and their respective reins...
Posted: Feb 14, 2024
Kemper Corporation has announced the promotion of Bradley Camden to the position of Executive Vice President (EVP) and Chief Financial Officer (CFO), transitioning from his role as Interim CFO since last September. In his new capacity, Camden will...
Posted: Feb 14, 2024
Sompo International, a global provider of commercial and consumer property and casualty (P&C) re/insurance, has announced that it has been granted a licence to write primary insurance in France by the French Prudential Supervision and Resoluti...
Posted: Feb 14, 2024
Marsh, the insurance broker and risk advising arm of Marsh McLennan, has announced the next phase in the rollout of its digital trading initiative for risks placed in the London insurance market, following a successful pilot in 2023. During the pi...
Posted: Feb 13, 2024
Davies, a specialist professional services and technology business, has announced the acquisition of Matson, Driscoll & Damico (MDD), a prominent international forensic accounting firm. MDD, renowned for its expertise in assessing economic dam...
Posted: Feb 13, 2024
In the fourth quarter of 2023, the global insurance market exhibited resilience in the face of inflationary pressures, according to the latest insights from Aon’s Q4 Global Insurance Market Dynamics report. Despite inflationary forces, prici...
Posted: Feb 13, 2024
Vantage Group has announced that it is now offering US Primary Casualty on top of it’s existing Bermuda and US Excess Casualty products. This move continues the organisation’s expansion of its specialty insurance capabilities for broke...
Posted: Feb 13, 2024
Dynamic Reinsurance, an underwriting agency registered in the United States, has entered into reinsurance agreements with Liberty, AXA XL, and Austral Re. Liberty, AXA XL and Austral Re have all been added to the company’s panel of reinsurer...
Posted: Feb 13, 2024
Ardonagh Specialty has appointed Patrick Rastiello as CEO of its North American reinsurance operations. Rastiello was most recently CEO and President of Accredited, where he reportedly grew the business to over $1.1 billion premium run rate, leadi...
Posted: Feb 13, 2024
Global broking firm WTW, has announced a strategic co-brokerage arrangement with the Solomon Agency Corporation aimed at enhancing insurance brokerage and risk management services for companies headquartered in South Korea and Vietnam, operating i...
Posted: Feb 13, 2024
In a strategic move to bolster insurance offerings, HDI Embedded, a leading embedded insurance provider under HDI International, has been chosen by Berlin-based insurtech company wefox and Wind Tre, the renowned Italian multi-service operator. The...
Posted: Feb 13, 2024
Property insurers in Japan are expected to maintain profitability in 2024 despite the 7.6 magnitude earthquake that struck Noto Peninsula at the start of the year, and caused insured loss of around $6 billion, according to GlobalData. On January 1...
Posted: Feb 13, 2024
In 2024, AXA Investment Managers highlights a promising opportunity for insurance investors within the fixed income sector. Arnaud Lebreton, Head of AXA US & UK CRM, Third Party Insurance Solutions, emphasises the importance of navigating the...
Posted: Feb 13, 2024
Unicorn Underwriting, the London-based Managing General Agent (MGA) of Amwins, has announced it has secured a box at Lloyd’s, demonstrating the firm’s commitment to “maintaining excellent service levels” and its belief in f...
Posted: Feb 13, 2024
Reinsurance broker Chedid Re has announced two new appointments within its Facultative Division, Patricia Atallah as Senior Director of the firm’s Property portfolio and Jalal Tabaja as Senior Director of Energy, Marine & Specie. Based in Leba...
Posted: Feb 13, 2024
ACORD has announced the establishment and inaugural meeting of the ACORD Global Advisory Council (GAC), which is set to drive industry-wide collaboration and digitalisation. The GAC members represent the interests of (re)insurers, brokers, and oth...
Posted: Feb 13, 2024
Acrisure, a global Fintech company, has introduced Acrisure Aerospace, a new division focused on meeting the specific needs of the aerospace industry. Under the leadership of Managing Partner Jason Riley, Acrisure Aerospace brings together several...
Posted: Feb 13, 2024
GBN Worldwide, a global network of re/insurers, independent brokers, and specialty suppliers, has unveiled its latest venture, GBN Risk Solutions (GBN RS), a London-based independent broker and Managing General Agent (MGA). This strategic move aim...
Posted: Feb 13, 2024