Reinsurance News
The recent CrowdStrike-linked IT global outage presents an opportunity for the cyber insurance and reinsurance market to reset appropriately, according to Vincent Tizzio, President and CEO of AXIS Capital. During today’s Q2 2024 AXIS Capital earni...
Posted: Jul 31, 2024
Verisk, a global data analytics and technology provider, has reported an increase in its consolidated and organic constant currency (OCC) revenues in the second quarter of 2024, with growth contributions from both underwriting and claims within In...
Posted: Jul 31, 2024
Global insurer MAPFRE has announced Leire Jiménez is to lead the new phase of MAPFRE Open Innovation as Group Chief Innovation Officer, effective September 1. She will hold her new role concurrently with her current role as CEO of MAWDY, the compa...
Posted: Jul 31, 2024
Talcott Financial Group, an international life insurance company known for providing extensive risk solutions, has announced a flow reinsurance agreement involving its subsidiary, Talcott Life Re, Ltd., and The Dai-ichi Frontier Life Insurance Co....
Posted: Jul 31, 2024
Boost Insurance, the insurance infrastructure platform, has secured a considerable equity investment from BHMS Investments, LP (BHMS), a private investment firm with a specialty in middle market insurance and insurance-related businesses. Accordin...
Posted: Jul 31, 2024
AM Best, the global credit rating agency, has revised the outlook to stable from positive and upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” (Good) from “bbb-” (Good) of Palomar Holdings, Inc., the insurance holding company a...
Posted: Jul 31, 2024
With the 2024 hurricane season in full effect, this time of the year is always interesting for the re/insurance industry due to the number of opportunities and challenges it poses for many different countries/regions. Reinsurance News recently spo...
Posted: Jul 31, 2024
S&P Global Ratings welcomes the Prudential Regulation Authority (PRA) new measures to control the spike in funded reinsurance (Funded Re) transactions and believes they will mitigate the associated risks, if implemented properly . This follows...
Posted: Jul 31, 2024
Mercury General Corporation has announced its financial results for the second quarter of 2024, reporting a net income of $62.6 million, compared to the -$41.5 million reported in the same period the year prior. Net premiums earned for the quarter...
Posted: Jul 31, 2024
Lemonade, a digital insurance firm powered by AI, has posted a net loss of $57.2 million for the second quarter of 2024, compared to a loss of $67.2 million from the second quarter of 2023. At the same time, in-force premium (IFP) increased by 22%...
Posted: Jul 31, 2024
MNK Re, an independent broker of specialist risks into Lloyd’s, has hired industry veteran Simon Ashby as Executive Managing Director and Global Chief Commercial Officer. In the role, Ashby is expected to hold responsibility for driving a number o...
Posted: Jul 31, 2024
Bermuda-headquartered insurer and reinsurer Arch Capital Group Ltd. has reported strong group-wide underwriting income growth of 25.7% for Q2 2024 to $762 million, compared with $606 million in Q2 2023, driven by an improved underwriting performan...
Posted: Jul 31, 2024
A new report from Munich Re has revealed that global insured losses from natural disasters in H1 of 2024 stood at $62 billion, 68% higher than the ten-year average of $37 billion and slightly up on last year. The reinsurer’s report additiona...
Posted: Jul 31, 2024
PartnerRe has revealed that its operating income for H1 of 2024 was $366 million, down from $636 million in H1 of 2023, driven by an increased frequency of mid-sized natural catastrophe events and a reserve strengthening in its U.S. Casualty lines...
Posted: Jul 31, 2024
Global insurer American International Group (AIG) has announced the appointment of Dimitry Zilberud as Head of Marine for the Asia Pacific (APAC) region. In his new role, Zilberud will be based in Sydney, Australia. In a statement, Emma Woolley, G...
Posted: Jul 31, 2024
AXIS Capital has revealed that net income available to common shareholders in Q2 of 2024 was $204 million, up from $143 million in Q2 of 2023, while gross written premiums (GWP) increased by $156 million, or 7%, to $2.4 billion. Within this GWP gr...
Posted: Jul 31, 2024
Bermuda-based Conduit Re has reported a 25% rise in comprehensive income to $98.1 million for the first half of 2024, as gross premiums written (GPW) swelled 36% to $737.8 million on the back of strong growth in both property and specialty. Group-...
Posted: Jul 31, 2024
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Ratings of Tennessee Farmers Insurance Companies (TFIC), a move influenced by the company’s deteriorating performance due to large claims resulting from signif...
Posted: Jul 31, 2024
Global reinsurance giant Swiss Re has named Anders Malmström as its new Group Chief Financial Officer (CFO), effective April 1st, 2025, succeeding John Dacey, who retires from his executive role on March 31st, 2025. Dacey will continue to represen...
Posted: Jul 31, 2024
According to a recent analysis by Morningstar DBRS, the Italian insurance sector has mostly overcome the challenges of the difficult operating environment it faced in 2023, and the current outlook is improving. Recently published data has shown th...
Posted: Jul 31, 2024
ReSource Pro, a provider of business process solutions for the insurance industry, has announced the appointment of Saima Shaukat as Senior Vice President, Retail Practice. Shaukat will leverage her deep technology and industry experience to provi...
Posted: Jul 31, 2024
New Zealand insurance carriers need to update their claims handling processes and ensure their staff are trained accordingly in order to adapt to the changes brought by the implementation of the Natural Hazards Insurance Act 2023 (NHI Act). Gallag...
Posted: Jul 31, 2024
For the foreseeable future, SCOR’s Global P&C CEO, Jean-Paul Conoscente, expects the property and casualty (P&C) reinsurance market to remain broadly where it is today after the renewals of 2024, absent any major events. SCOR reporte...
Posted: Jul 30, 2024
The number of insurance and reinsurance companies based in the Dubai International Financial Centre (DIFC) has grown to 125 companies, up from 110, the centre has reported in its results for the first half of 2024. An international financial hub i...
Posted: Jul 30, 2024
European Managing General Underwriter (MGU) SRS Altitude, a specialist in Alternative Risk Transfer (ART), has partnered with Generali Global Corporate & Commercial for ART underwriting solutions. Through this partnership SRS aims to leverage...
Posted: Jul 30, 2024