Reinsurance News

German reinsurer Hannover Re has reported that it achieved an inflation and risk-adjusted price increase on renewed business of 2.3% in the 1 January 2024 treaty renewals in traditional property and casualty (P&C) reinsurance. Hannover Re sugg...

Posted: Feb 07, 2024

Xenia Broking Group Limited (XBGL), a Brown & Brown group company, has announced the appointment of Steven Stennett as Chief Executive Officer (CEO), taking over the role from Tim Coles. Stennett brings to his new role over 25 years of experie...

Posted: Feb 07, 2024

SureChoice Underwriters Reciprocal Exchange (SURE), in partnership with SageSure, a managing general underwriter focused on catastrophe-exposed markets, has entered the Californian market with the launch of its surplus lines homeowners insurance....

Posted: Feb 07, 2024

Golub Capital, a leading credit asset management firm, has announced its role as Joint Lead Arranger on a unitranche facility to bolster the growth initiatives of German insurance broker MRH Trowe. The financing, structured as a delayed draw term...

Posted: Feb 07, 2024

MEDVIDA Partners, a Spanish insurer, has completed its acquisition of Metrópolis’ life insurance portfolio, representing the first transfer of life insurance savings with-profits portfolios between unrelated entities. According to the announcement...

Posted: Feb 07, 2024

Global reinsurance firm Hannover Re has warned that when it reports its full-year 2023 results, its operating result for the year will be impacted by a resiliency reserve that has been set “significantly higher” than forecast in the fo...

Posted: Feb 06, 2024

Jean-Paul Conoscente, the Chief Executive Officer (CEO) of property & casualty (P&C) at French reinsurer SCOR, has said that it is likely that there will be pressure on pricing catastrophe programmes for the April renewals. Speaking during...

Posted: Feb 06, 2024

Amwins Underwriting has partnered with Lancer Insurance Company, the commercial auto division of Core Specialty, marking a new carrier relationship which will enhance two trucking programs provided through Amwins Transportation Underwriters (ATU)....

Posted: Feb 06, 2024

African specialist underwriting agency, Neema Insurance Managing Agency, will officially open a London office on 12th February 2024, marking a key milestone in the company’s journey. Neema is a multi-class MGA which has been operating since 1st Oc...

Posted: Feb 06, 2024

Gallagher Re has appointed Hamish Dowlen as Managing Director of Europe, the Middle East and Africa (EMEA), effective 1 June 2024, while Ditte Deschars will be moving into the Chairperson role for EMEA, in addition to her leadership of the Nordic...

Posted: Feb 06, 2024

Quotech, a developer of integrated technology solutions for underwriting and broking teams, has launched Quex, a new exposure management platform. Quotech explained that Quex resolves the frequent complaints users make about their old exposure man...

Posted: Feb 06, 2024

Industry giant Swiss Re’s digital B2B2C insurer, iptiQ and Goboony, a European camper-sharing platform, have strategically partnered to launch a new digital insurance solution tailored to the specific needs of motorhome owners. The Netherlan...

Posted: Feb 06, 2024

In recent developments, ongoing attacks on Red Sea shipping lanes have prompted a surge in war risk premiums, posing challenges for marine insurers worldwide, according to a Moody’s report. The disruptions to shipping routes have raised conc...

Posted: Feb 06, 2024

Arthur J. Gallagher & Co. has acquired Fort Lauderdale, Florida-based The John Galt Insurance Agency, an independent insurance agency, in an undisclosed transaction. The Agency is formed by John Galt Commercial Insurance Agency, LLC and John G...

Posted: Feb 06, 2024

VIG Re, the reinsurance company of Vienna Insurance Group, has announced the appointment of Tobias Sonndorfer as Vice-Chairman of the Board of Directors, effective February 1, 2024. In addition to his role as Vice-Chairman, Sonndorfer will also as...

Posted: Feb 06, 2024

Global brokerage firm WTW has reported 6% organic revenue growth for the fourth quarter of 2023 to $2.91 billion, while net income for the period rose by 5%, year-on-year, to $623 million. For the full year 2023, WTW achieved 8% organic revenue gr...

Posted: Feb 06, 2024

Zurich-based catastrophe insurance data provider PERILS AG has updated its insured property market loss estimate for the Kahramanmaras Earthquake Sequence to TRY 117.0 billion, which is approximately $6.2 billion at February 2023 exchange rates. T...

Posted: Feb 06, 2024

Marsh, the insurance broker and risk advising arm of Marsh McLennan, has appointed Lorraine Stack as the Risk Management Leader, Europe, effective immediately. Stack’s remit in the new role at Marsh will include responsibility for the portfo...

Posted: Feb 06, 2024

Algorithmic underwriting insurtech, Artificial Labs has raised £8 million in a Series A+ funding round that was led by Augmentum Fintech, with participation from existing investors MS&AD Ventures and FOMCAP IV. From what we understand, Artific...

Posted: Feb 06, 2024

Global re/insurance broker, Howden Group Holdings, has announced organic growth of 13%, and a 33% rise in revenue to £2.44 billion for the year ended September 30, 2023. Organic growth of 13% is lower than the previous year of 19%, while revenue i...

Posted: Feb 06, 2024

KatRisk LLC, a catastrophe modelling company founded in 2012, has appointed Roger Arnemann to its board of directors. Arnemann is currently an Executive in Residence at Scale Venture Partners, having previously served as General Manager of Guidewi...

Posted: Feb 06, 2024

RiverStone International, the largest provider of legacy solutions in the Lloyd’s market, has completed the acquisition of Catalina Insurance Ireland, an Irish insurance company regulated by the Central Bank of Ireland. RiverStone first announced...

Posted: Feb 06, 2024

Specialist insurance broker Tysers has hired Jayees Ibrahim and Elias Nohra in Dubai to expand its Property & Casualty, Construction and Engineering services to clients in the Middle East and Africa (MEA) and Asia. Ibrahim joins Tysers from Ao...

Posted: Feb 06, 2024

Active cyber insurance provider Coalition, has announced the appointment of Laura Stewart as its first UK Claims Leader, a London-based role. “Coalition’s Active Insurance is a unique solution that helps clients before, during, and after a cyber e...

Posted: Feb 06, 2024

Global reinsurer SCOR saw a rise in estimated gross premium income (EGPI) of 13.6% for P&C business at the January 1st, 2024, reinsurance renewals, above the average Forward 2026 strategic plan assumptions. SCOR notes that in line with its For...

Posted: Feb 06, 2024