Reinsurance News
The Hull and Machinery insurance market has remained relatively static in the first half of 2024, according to analysts at Gallagher Specialty, who have also noted the looming possibility of a slight softening as the year goes on. The market has s...
Posted: Aug 06, 2024
Peel Hunt’s analysis of the Bermudian specialty reinsurance market for the first half of 2024 highlights a growing trend in cycle management, with re/insurers becoming more selective about where to expand their exposures and choosing to redu...
Posted: Aug 05, 2024
Hybrid insurer Hadron has announced that its UK business, Folgate Insurance Company Limited, will be rebranded as Hadron UK Insurance Company Limited (Hadron UK), alongside three key appointments. Hadron entered the UK market in February 2024 thro...
Posted: Aug 05, 2024
Markel, the insurance operations within Markel Group Inc., has announced several key appointments to its Singapore and Hong Kong teams, strengthening its operations and underwriting capabilities in the Asia Pacific region. Alvernia Xu has been nam...
Posted: Aug 05, 2024
Emerald Bay Risk Solutions, a cooperative underwriting carrier, has announced a strategic alliance with Curotech Specialty, a technology-driven managing general agent, to launch an excess and surplus commercial property programme. The programme is...
Posted: Aug 05, 2024
EBM Insurance & Risk, an Australian privately owned insurance broker, has announced a strategic partnership with CyberCube, a provider of cyber risk analytics. Through this partnership, EBM will implement CyberCube’s Broking Manager and...
Posted: Aug 05, 2024
Industry veteran Chris Brown has been appointed CEO of Lockton International, where he will oversee Europe, Latin America, Asia, Pacific (Australia & New Zealand), and Middle East and North Africa (MENA). Boasting over a decade of leadership e...
Posted: Aug 05, 2024
A $4.037 billion settlement has been reached resolving claims arising from the Maui, Hawaii wildfires in August 2023, according to the state’s Governor Josh Green. As Reinsurance News understands, the settlement addresses around 450 lawsuits...
Posted: Aug 05, 2024
AXA Hong Kong and Macau has announced the launch of the market-first “Heatwave Parametric Insurance”, a new offer created to provide enhanced protection for outdoor practitioners amid escalating climate risks in the summer in Hong Kong...
Posted: Aug 05, 2024
Executive Vice President and Chief Financial Officer (CFO) of The Hanover Insurance Group, Jeffrey Farber, has revealed that pricing was “significantly better” than expected at the firm’s July reinsurance renewal. During The Hano...
Posted: Aug 05, 2024
Fabian Desch has been appointed as the next general manager for QBE’s Germany unit, pending regulatory approval. Desch, who will start his new role once all regulatory approvals are in place, will report to Beatriz Valenti, director of Insur...
Posted: Aug 05, 2024
French reinsurer SCOR is considering to buy more retrocession reinsurance to protect solvency, but dividends remain at risk, as interest rates and an active hurricane season add pressure to its balance sheet, according to Berenberg analysts. SCOR’...
Posted: Aug 05, 2024
Arch Insurance International, part of Bermuda-based re/insurer Arch Capital Group Ltd., has promoted Marie Penberthy to Chief Financial Officer (CFO), subject to regulatory approval. Penberthy will be based in London, reporting to Hugh Sturgess, P...
Posted: Aug 05, 2024
Price Forbes has bolstered its leadership team with the appointment of Julian Coates as Chief Broking Officer of the firm’s Singapore unit. Based in Singapore, Coates will hold responsibility for developing Price Forbes’ broking strate...
Posted: Aug 05, 2024
US primary insurer Allstate opted to shrink the size of its 2024-2025 Florida excess catastrophe reinsurance program at the mid-year reinsurance renewals, and also added $90 million of limit to the top of its Nationwide coverage. This is now the s...
Posted: Aug 05, 2024
With tropical storm Debby recently intensifying into a category 1 hurricane, the National Hurricane Center (NHC) has warned of further strengthening, as an imminent landfall is anticipated in the Big Bend area of the Florida Panhandle. According t...
Posted: Aug 05, 2024
AXA has entered into an agreement to acquire Gruppo Nobis for an upfront payment of €423 million, with a potential additional earn-out of up to €55 million. Nobis is a predominantly Retail property and casualty (P&C) insurance company in Italy...
Posted: Aug 05, 2024
Independent specialist re/insurance broker Miller has appointed Edward Cheak as Head of Credit and Political Risk Insurance (Asia). According to the firm, Cheak’s appointment comes as it continues the expansion of its presence and offerings...
Posted: Aug 05, 2024
Global reinsurer Swiss Re has appointed Alan Wilson as a member of the Board of Directors for its Asian business, Swiss Re Asia Pte. Ltd. (SRAL). Wilson is an industry veteran with 45 years of experience, and stepped into his new role on August 1s...
Posted: Aug 05, 2024
Marsh McLennan Agency, a subsidiary of Marsh, has completed the acquisition of The Horton Group, Inc., a full-service insurance brokerage based in Illinois, US. Horton, which was founded in 1971, offers property and casualty insurance, employee be...
Posted: Aug 05, 2024
Hamilton Lane, a global private markets investment management firm, has announced the creation of a specialised Insurance Solutions team, to be led by John Brecker. Moreover, the firm formalised its long-standing efforts to serve insurers and enha...
Posted: Aug 05, 2024
Kova Professions, the specialist MGA focused on Professional Indemnity (PI), has announced the appointment of Sarah Morrison as Senior Underwriter. With two decades of industry experience, Morrison’s deep expertise in the PI sector will further en...
Posted: Aug 05, 2024
The Federation of European Risk Management Associations (FERMA) has called upon the Hungarian Presidency to ensure holistic approach to European competitiveness and simplification of regulatory maze. The organisation recently published its Contrib...
Posted: Aug 05, 2024
AM Best, the global credit rating agency, has revised the outlook to stable from positive for Eureka-Re SCC (Eureka) (Barbados). The Financial Strength Rating has been upgraded to A- (Excellent) from B++ (Good) along with the Long-Term Issuer Cred...
Posted: Aug 05, 2024
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has achieved an 82% year-on-year rise in net underwriting earnings across its insurance and reinsurance businesses for the second quarter of 2024, as the firm’s pro...
Posted: Aug 04, 2024