Reinsurance News
Markel, the insurance arm of Markel Group Inc., has appointed Rob Cole as the Chief Actuarial Officer. Cole will succeed Ron Herrig, who will be retiring at the end of 2024 after a successful 28-year career with Markel. Brian Costanzo, Chief Finan...
Posted: Jul 16, 2024
Fleming Intermediate Holdings has reportedly filed a lawsuit for securities fraud, common-law fraud, and breach of contract in federal court against James River Group and its CEO and CFO concerning Fleming’s purchase of JRG Re from James River for...
Posted: Jul 16, 2024
GCube Insurance, an underwriter for renewable energy products, has launched a new consortium, comprised of six Lloyd’s syndicates, in a move that is set to provide battery energy storage system (BESS) developers and asset owners worldwide wi...
Posted: Jul 16, 2024
The resilience of the global economy to geopolitical tensions and the higher inflationary environment has set the scene for growth and better profitability across the insurance sector, according to global reinsurer Swiss Re’s latest World In...
Posted: Jul 16, 2024
Capco, a management and technology consultancy focused on the financial services industry, has announced the appointment of Paul Riseborough as Managing Partner for its UK business. In his new role, Riseborough will be based in London and will joi...
Posted: Jul 16, 2024
Following the negative experience variance in Q1 2024, French reinsurer SCOR has accelerated its annual L&H reserving assumptions review, and revealed that its Life & Health (L&H) insurance service result (ISR) in 2024 is now expected...
Posted: Jul 16, 2024
Moody’s RMS Event Response has estimated that U.S. insured losses from Hurricane Beryl will likely fall between $2.5 billion and $4.5 billion, encompassing damage from wind, storm surge, and precipitation-induced flooding. At the same time, accord...
Posted: Jul 16, 2024
CRC Group, a wholesale specialty insurance distributor in North America, has announced the appointments of three new professionals to its team. These additions are part of CRC Group’s strategic expansion effort to enhance support for retail...
Posted: Jul 16, 2024
H.W. Kaufman Group, a privately held, global insurance organisation, has announced the appointment of Paul Greensmith as Chief Executive Officer for H.W. Kaufman Group London. Joining the company in October, Greensmith will be responsible for Kauf...
Posted: Jul 16, 2024
FERMA, the Federation of European Risk Management Associations, has published its EU Policy Manifesto, outlining its priorities for policymakers in EU Institutions for the upcoming 2024-2029 mandate and explains how the Federation can support thes...
Posted: Jul 16, 2024
Artex, Gallagher’s wholly-owned subsidiary for alternative risk and capital, has launched its first Vermont Protected Cell Company (PCC), to provide organisations of all sizes and industries with an alternative platform to support their risk...
Posted: Jul 15, 2024
Global insurer American International Group (AIG) has appointed Melissa Twiningdavis as Executive Vice President (EVP), Chief Administrative Officer, effective September 1st, 2024, reporting to Peter Zaffino, Chairman and Chief Executive Officer (...
Posted: Jul 15, 2024
Gallagher Specialty’s Plane Talking Q2 2024 report highlights that excess capacity and heightened competition are driving a softening of rates, creating a more competitive pricing environment that benefits airline insurance buyers. This surplus ca...
Posted: Jul 15, 2024
Cayman Islands-based reinsurer Topsail Re has hired industry veteran Kanga Ahn as Vice President of Underwriting. In her new role, Ahn’s main responsibilities will include underwriting, marketing and account management. She holds a deep degr...
Posted: Jul 15, 2024
Global ratings agency Fitch recently reported strong to very strong Insurer Financial Strength (IFS) ratings for Bermuda and U.S. insurers and reinsurers. Arch received an ‘AA-’, RenaissanceRe an ‘A+’, and both SiriusPoint and Hamilton an ‘A–’, al...
Posted: Jul 15, 2024
French reinsurer SCOR has announced the appointment of Helen Croft as its new Head of UK & Ireland, Life & Health. In her new role, Croft will oversee the underwriting of life reinsurance for SCOR clients across the UK and Ireland region....
Posted: Jul 15, 2024
Bermuda has successfully continued to attract global re/insurers as the Bermuda Monetary Authority (BMA) continues to introduce significant new requirements to regulate the market in its jurisdiction, a move that has had a very significant financi...
Posted: Jul 15, 2024
Incline P&C Group, an insurance program market firm, has bolstered its senior leadership team by appointing Scott Galiardo as the Chief Actuary and Chief Underwriting Officer (CUO) for Commercial & Specialty Lines and Tony Urban as the Chi...
Posted: Jul 15, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has announced the appointment of Joseph Madigan as Chief Underwriting Officer for its North American Environmental Insurance business for Middle Marke...
Posted: Jul 15, 2024
The UK motor insurance market faced its most challenging year since 2011, recording a loss-making Net Combined Ratio (NCR) of 112.8% in 2023, but with declining inflation and rising premiums a return to profitability is foreseen, according to Erns...
Posted: Jul 15, 2024
Global specialty insurer, Mosaic Insurance, has announced a restructure of roles across its underwriting and operational teams, in a move that is anticipated to drive growth within its agency business, effective immediately. This includes, Liam Jo...
Posted: Jul 15, 2024
Guy Carpenter is launching a new parametric flood re/insurance mechanism that provides customised flood coverage based on hazard footprints obtained in near real-time. According to Guy Carpenter, GC FloodShield boasts a broad application available...
Posted: Jul 15, 2024
Most re/insurers have now started, or are about to start, the implementation of the IFRS17 Standard, a finance transformation and modernisation program, which has brought some benefits and challenges that are yet to be overcome, a recent PwC surve...
Posted: Jul 15, 2024
Tokio Marine Kiln (TMK) has partnered with carbon credit insurance specialist Kita to provide Political Risk insurance for developers of/investors in, carbon credit projects. Led by Ed Parker, Head of Special Risks at TMK, the new product will rep...
Posted: Jul 15, 2024
Two-thirds (67%) of financial services leaders are more optimistic about the sector’s growth under the new Labour government, according to KPMG’s latest UK Financial Services Sentiment Survey. This survey polled over 150 leaders in banking, insura...
Posted: Jul 15, 2024