Reinsurance News
Xceedance, a global provider of strategic operations support, technology, and data services for insurance organisations, has launched its MGA Agility Suite aimed to enhance digital capabilities for program administrators in the Americas. Industry...
Posted: Feb 08, 2024
Based on its consolidated unaudited figures, Talanx Group, the parent company of Hannover Re, is expecting a group net income of €1.58 billion for the 2023 financial year. Talanx noted that this “clearly” surpasses its original annual...
Posted: Feb 08, 2024
According to a recent report by Moody’s, the P&C sector faced significant financial setbacks last year, primarily attributed to a series of severe convective storms (SCS) rather than major catastrophes. These storms, encompassing hail, s...
Posted: Feb 08, 2024
According to Fitch Ratings, the German non-life insurance sector is set to grapple with a net combined ratio of 99% for both 2023 and 2024, marking the highest figures since the tumultuous loss years of 2013 and 2002. The forecast primarily attrib...
Posted: Feb 08, 2024
Generali Global Corporate & Commercial (GC&C), subsidiary of the Italian insurance giant, has announced the appointment of Carlos Gomez as the new Head of Insurance, effective January 30, 2024. In his new role, Gomez will lead and oversee...
Posted: Feb 08, 2024
Cyber Underwriter Corvus Insurance has introduced a newly expanded Tech E+O product that features an enhanced appetite backed by Travelers. Corvus explained that Smart Tech E+O provides creative risk solutions for technology businesses across a ra...
Posted: Feb 08, 2024
Spanish reinsurer Nacional Re is set to leverage ACORD Solutions Group’s ADEPT (ACORD Data Exchange Platform and Translator) for Global Reinsurance and Large Commercial (GRLC) to “automate the digitisation and exchange of accounting and clai...
Posted: Feb 08, 2024
Independent specialist re/insurance broker Miller’s new London and International Market Update, notes a more consistent approach to trading within the property market at the January 1st, 2024, reinsurance renewals, and while pressure remains...
Posted: Feb 07, 2024
Insurtech Fairmatic has appointed Jim Hinchley as President of Insurance to drive growth and “bring innovative new insurance products” to market. According to Fairmatic, Hinchley’s proven track record in the commercial auto insur...
Posted: Feb 07, 2024
US insurance and investment firm, Prudential Financial, Inc., has reported fourth-quarter 2023 net income of $1.317 billion compared to a net loss of $52 million in the prior year’s quarter. The insurer’s after-tax adjusted operating income...
Posted: Feb 07, 2024
Maritime risks insurer Falvey Insurance Group has announced the appointment of Jason Olsen to the role of Vice President, Marine Cargo, welcoming him back to the company. Based out of Seattle, US, and effective February 12, Olsen will focus on a C...
Posted: Feb 07, 2024
French reinsurer Caisse Centrale de Réassurance (CCR) has selected Clearwater to power its entire investment management processes and streamline its unlisted assets workflow. CCR is a state-owned reinsurer that provides insurance companies operati...
Posted: Feb 07, 2024
Global specialty insurer and a subsidiary of Tiptree Inc., The Fortegra Group, Inc., has announced the withdrawal of its initial public offering. “Due to prevailing market conditions and the high value Tiptree Inc. and Warburg Pincus LLC place on...
Posted: Feb 07, 2024
Warwick Re Ltd, a Bermuda-domiciled reinsurer, has completed a roughly $500 million quota share reinsurance agreement with UK bulk purchase annuity (BPA) insurer Just Group plc. This inaugural transaction for Warwick Re, a provider of solutions to...
Posted: Feb 07, 2024
White Mountains has released its fourth-quarter results for 2023, reporting that its Ark partner firm produced strong underwriting results in both the quarter and the full year, while growing full-year gross written premiums 31%, according to CEO...
Posted: Feb 07, 2024
DeNexus, a provider in cyber risk modeling for industrial networks, has announced plans to launch its subsidiary, DNX Intermediaries (Bermuda) Ltd, this year. This announcement came as DeNexus also announced significant investments from energy and...
Posted: Feb 07, 2024
According to executives at large European reinsurer Hannover Re, the current market environment is anticipated to prevail at the upcoming April and mid-year renewals. As reported earlier, the German reinsurer achieved an inflation and risk-adjuste...
Posted: Feb 07, 2024
Pro Global has recorded 12% revenue growth for the full year 2023, marking the third consecutive year of double-digit revenue progression for the company. The year also saw the company acquire a specialist Robotic Process Automation (RPA) business...
Posted: Feb 07, 2024
Ensurise, LLC, the independent insurance brokerage, has merged with Risk Cooperative in a move that is set to strengthen it’s market presence. The merger came into effect on December 19, 2023. Risk Cooperative, which was established in 2014,...
Posted: Feb 07, 2024
Specialty re/insurer Canopius Group has announced the appointment of Valentina Minetti as Head of Medical Professional Liability (MPL), effective immediately. Minetti brings to her new role nearly 30 years of healthcare lines and actuarial experie...
Posted: Feb 07, 2024
Tokio Marine HCC International (TMHCCI) has reached an agreement with Marsh Specialty UK to take on certain employees of Lavaretus Underwriting, a specialist MGA and Lloyd’s coverholder focused on the shipping, power and energy sectors. Lavaretus...
Posted: Feb 07, 2024
Insurer Cincinnati Financial Corporation has reported a full-year 2023 net income of $1.84 billion, compared with a net loss of $487 million in 2022. For Q4 alone, the firm posted a net income of $1.18 billion, compared with a net income of $1.01...
Posted: Feb 07, 2024
Lloyd’s, the world’s oldest insurance and reinsurance marketplace, has partnered with Sherbro Alliance Partners (SAP) to support economic resilience and growth opportunities on Sherbro Island, Sierra Leone. The partnership was cemented by the sign...
Posted: Feb 07, 2024
AM Best has warned in a new report that a growing cyber book could present a “material risk to a re/insurer’s financial strength” if it is not carefully managed and appropriately monitored. According to the rating agency, cyber is a li...
Posted: Feb 07, 2024
Tata Consultancy Services (TCS) has expanded its Aviva partnership with a new 15-year agreement to transform the insurer’s UK Life business and enhance customer experience leveraging the TCS BaNCSTM based platform. The partnership is to serve over...
Posted: Feb 07, 2024