Reinsurance News
Gradient AI, the provider of proven artificial intelligence (AI) solutions for the insurance sector, has raised $56.1 million in Series C funding, in a round led by Centana Growth Partners, with participation from existing investors MassMutual Ven...
Posted: Jul 30, 2024
Karma Wallet, a financial platform dedicated to sustainability and social impact, has strategically partnered up with Palomar, an innovative specialty insurer serving residential and commercial clients to launch Karma Wallet Card. The card aims to...
Posted: Jul 30, 2024
The majority of respondents to a recent Reinsurance News poll believe the total re/insurance industry loss from the CrowdStrike-linked IT outage will surpass $1 billion, with 38% of voters anticipating that losses could exceed $1.5 billion. Accord...
Posted: Jul 30, 2024
Resilience and optimism is what has characterised the renewable energy sector, despite climate issues, supply chain disruption, casualty deterioration, social inflation and geopolitical conflicts, according to a recent report by WTW. However, over...
Posted: Jul 30, 2024
Swiss Re’s latest US economic forecasts predict steady global GDP growth and decreasing inflation, but evolving risks could disrupt this outlook, prompting the firm to update its three alternative economic scenarios to reflect current global condi...
Posted: Jul 30, 2024
The successful passage of a package of bills designed to reform Louisiana’s property insurance market is a key step towards restoring confidence in the state, and according to Insurance Commissioner Tim Temple, there’s more to come. It was announc...
Posted: Jul 30, 2024
Greggs plc Pension Trustees Limited, the Trustee of the Greggs plc 1978 Retirement and Death Benefit Scheme, has completed a £100 million bulk annuity agreement with Aviva, an insurance and financial services provider, which covers most of the Sch...
Posted: Jul 30, 2024
Worldlink Specialty has partnered with Oneglobal Broking to introduce “AeroPRO,” a comprehensive professional liability insurance solution tailored for the US aviation and aerospace sector. AeroPRO, supported by Lloyd’s of London marke...
Posted: Jul 30, 2024
1970 Group, the specialised risk financing provider for the insurance sector, has secured a growth capital investment from Bain Capital Insurance, the insurance investing unit of Bain Capital, in a move that is set to support the firm’s cont...
Posted: Jul 30, 2024
Gallagher has appointed Aldo Borsani as the Head of Cyber for Europe, where he will enhance the firm’s products and services, collaborate with existing clients and teams across Europe, and lead new business growth. Borsani brings nearly ten...
Posted: Jul 30, 2024
Global insurance group Enstar has reported net earnings of $126 million for the second quarter of 2024, a substantial increase from $21 million in Q2 2023. The company’s return on equity (ROE) improved to 2.5% this quarter, compared to 0.5%...
Posted: Jul 30, 2024
Global reinsurance giant Swiss Re has promoted Nicole Fera to lead its Regional 1 Reinsurance market division in the United States. Fera is an experienced reinsurance industry professional, having spent over 16 years at Swiss Re. As the Head of Re...
Posted: Jul 30, 2024
Andy Foot has joined Howden Re as Managing Director, Marine, Energy & Terror Treaty, where he will focus on the London and US markets including the placement of consortia and binders. Foot joins Howden Re from Aon, where he spent over two deca...
Posted: Jul 30, 2024
Reviewing buying activity from January through July 2024, Guy Carpenter has estimated that approximately $35 billion – $40 billion of additional property catastrophe limit has been purchased worldwide, driven by favourable conditions. Accord...
Posted: Jul 30, 2024
French reinsurer SCOR has fallen to a net loss of €308 million for the second quarter of 2024 as a result of the previously announced Life & Health (L&H) assumption review, which more than offset a solid performance in its Property & C...
Posted: Jul 30, 2024
RSA Insurance, a global insurer, is pleased to announce the immediate appointment of Damian Cannings as the new Regional Manager for Bristol. Damian will report to Deena Hemming, Trading Director – South, and will spearhead initiatives to in...
Posted: Jul 30, 2024
As per Fitch Ratings, non-life insurance premium rates are showing different trends across numerous European markets, following the rating agency’s mid-year review of insurance sector outlooks. According to Fitch, non-life insurers have been...
Posted: Jul 30, 2024
NTT DATA UK&I, an IT services provider and consultant for the insurance industry, has announced a new partnership with iPipeline, a provider of digital solutions for the life insurance, pensions, savings, and investments markets in the UK. Thi...
Posted: Jul 30, 2024
Cyber insurance losses related to the CrowdStrike outage will be driven by business interruption, Moody’s has highlighted in a recent report, who also warned that determining final losses for the industry will be a lengthy process due to cyber ins...
Posted: Jul 29, 2024
SiriusPoint Ltd., a global insurer and reinsurer specialising in niche markets, and Hellenic Hull Management (HMA), a marine hull and machinery underwriter in Greece and Cyprus, have announced a strategic partnership. HMA has been influential in t...
Posted: Jul 29, 2024
Donegal Group, the US primary holding company, has posted a 9.1% increase in net premiums written (NPW) in the second quarter of 2024, climbing to $247.2 million, compared to last year’s $226.5 million. According to the firm, the increase in...
Posted: Jul 29, 2024
Pan-African reinsurer Continental Reinsurance Plc has reported a net reinsurance service result, so underwriting profit, of NGN 9.14 billion (USD 5.6m) for 2023, a 108% increase from 2022’s NGN 4.4 billion (USD 2.7m). The firm’s reinsurance revenu...
Posted: Jul 29, 2024
India-based insurtech InsuranceDekho has received a composite insurance broking licence from the Insurance Regulatory and Development Authority of India, allowing the firm to offer reinsurance broking in addition to its insurance broking services....
Posted: Jul 29, 2024
Resilience, a cyber risk company, has appointed Killian Brady as its new Chief Underwriting Officer, responsible for overseeing all underwriting activities for the company’s expanding portfolio that includes middle market and large enterpris...
Posted: Jul 29, 2024
Brown & Brown, Inc. has entered into an agreement to acquire Quintes Holding B.V. (Quintes) from Aquiline Capital Partners, with the deal expected to finalise in the fourth quarter of 2024. Founded in 2012 by Gijsbert van de Nieuwegiessen, Qui...
Posted: Jul 29, 2024