Reinsurance News
Specialist insurer Pension Insurance Corporation plc (PIC) has announced the addition of three new members to its Origination team, Tom Seecharan as Co-Head of Origination, Matt Richards as Head of Origination Structuring, and Louise Nash as Origi...
Posted: Feb 05, 2024
With recession at bay and inflation beginning to cool off, North American insurers are expected to balance growth opportunities while weathering potential impediments to growth this year, according to Fitch Ratings analysts and external panelists...
Posted: Feb 02, 2024
While the outlook for property and casualty (P&C) pricing remains favourable for 2024, Eric Andersen, President of re/insurance broker Aon, expects a transition to a more product and risk specific marketplace over the next 12-24 months. Follow...
Posted: Feb 02, 2024
Specialty property casualty insurer, AmTrust, has named a new President of AmTrust Title, James Thanasules, who will oversee the company’s operations providing title insurance for the commercial and residential real estate industries. Thanasules,...
Posted: Feb 02, 2024
In the midst of a dynamic financial environment marked by soaring interest rates, reinsurance is emerging as a key ally for life insurers, offering innovative solutions to effectively manage the impact on their businesses, according to a Swiss Re...
Posted: Feb 02, 2024
AdvantageGo, the commercial insurance and reinsurance software provider and part of Coforge, has entered into a strategic alliance with Combined Ratio Solutions, a provider of insurance Customer Relationship Management (CRM) solutions and professi...
Posted: Feb 02, 2024
Kemper Corporation has reported a net income of $51.4 million for the fourth quarter of 2023, compared to a net loss of $53.3 million for the fourth quarter of 2022. Total revenues for Q4’23 decreased $187.4 million, or 13.6 percent, to $1,1...
Posted: Feb 02, 2024
Life insurance and reinsurance holding company, Monument Re, has completed its previously announced agreement to acquire the closed portfolio long-term life insurance business from Integrale Lux S.A. through its Luxembourg subsidiary, Monument Ass...
Posted: Feb 02, 2024
Pan-African reinsurer Continental Reinsurance Plc has announced the appointment of Thierry Ravoaja to the role of Chief Underwriting Officer – Treaty and Retrocession. Ravoaja brings with him over two decades of industry experience, having most re...
Posted: Feb 02, 2024
Aon’s Reinsurance Solutions arm delivered organic revenue growth of 14% in the fourth quarter of 2023 to $332 million, as total revenue across the insurance and reinsurance broking group rose $245 million to $3.4 billion. The broker attribut...
Posted: Feb 02, 2024
The Hartford has posted a net income of $766 million for the fourth quarter of 2023, a substantial rise from $587 million in the fourth quarter of 2022. The company noted that this was primarily driven from a higher property & casualty (P&...
Posted: Feb 02, 2024
Zurich-based catastrophe insurance data provider PERILS has disclosed its fourth and final insurance market loss estimate for the severe flooding that impacted the North Island of New Zealand in late January 2023, pegging the total at NZ $2.23 bil...
Posted: Feb 02, 2024
Reinsurance Group of America (RGA), a global life and health reinsurer, has reported fourth-quarter 2023 premium growth of 19.2% over the prior-year quarter as consolidated net premiums hit $4.1 billion. Net premiums for the quarter include a $500...
Posted: Feb 02, 2024
Global insurance broker WTW has launched a new cyber insurance solution tailored for small and medium-sized enterprises (SMEs) spanning industries across North America. This solution is tailored for businesses with annual revenues under $50 millio...
Posted: Feb 02, 2024
Escalating tensions in the Middle East, especially in the Red Sea region, have recently rekindled concerns within the (re)insurance industry regarding potential claims inflation, with BofA Securities noting that, although direct and indirect impac...
Posted: Feb 02, 2024
Mortgage insurer Enact Holdings, Inc. secured the $255 million of additional excess of loss (XoL) reinsurance protection as part of its credit risk transfer (CRT) programme. This CRT transaction covers a portion of expected new insurance written f...
Posted: Feb 02, 2024
Specialty insurer Core Specialty Insurance Holdings, Inc., along with its subsidiaries, has signed a purchase agreement to make a minority investment in Gramercy Risk Holdings, LLC, which provides property and casualty insurance programs for speci...
Posted: Feb 02, 2024
Credit rating agency KBRA has downgraded Conifer Holdings and its subsidiaries credit ratings, and revised its negative outlook to positive. Conifer Insurance Company (CIC) financial strength ratings (IFSR) were downgraded to BBB from BBB+ for, an...
Posted: Feb 02, 2024
Global insurer Chubb has named Seth Gillston as Executive Vice President (EVP), Head of North America Industry Practices. He will be based in New York City, with a reporting line to John Lupica, Vice Chairman, Chubb Group and President, North Amer...
Posted: Feb 02, 2024
Italy-headquartered insurer Generali has completed the acquisition of Liberty Seguros, Compañia de Seguros y Reaseguros, S.A., from Liberty Mutual Insurance The transaction was originally announced on June 15, 2023, and it represents Generali̵...
Posted: Feb 02, 2024
The Munich Re Economic Research Outlook for 2024 suggests a challenging economic landscape marked by geopolitical uncertainties, weak growth, and lower inflation. Despite surprising growth in 2023, driven by robust labor markets, wage increases, a...
Posted: Feb 01, 2024
Global credit rating agency AM Best has assigned a Preliminary Credit Assessment (PCA) to Amherst Specialty Insurance Company (Amherst) (Addison, TX) with a Financial Strength Assessment of A- pca (Excellent) and a Long-Term Issuer Credit Assessme...
Posted: Feb 01, 2024
Hybrid insurer Hadron has entered the UK market with the acquisition of Folgate Insurance Company Limited, terms of the transaction were not disclosed. Based in the US, Hadron announced its launch in the fourth quarter of 2023 with a significant c...
Posted: Feb 01, 2024
RGA International, a subsidiary of Reinsurance Group of America, Incorporated, has entered into a reinsurance transaction with the Belgian subsidiary of Baloise Holdings AG. Cormac Galvin, Senior Vice President, Head of EMEA, Global Financial Solu...
Posted: Feb 01, 2024
Bermuda-based RenaissanceRe’s President and Chief Executive Officer (CEO), Kevin O’Donnell, recently discussed the company’s experience at the January 1st, 2024, reinsurance renewals during the firm’s Q4 and full year 2023 earnin...
Posted: Feb 01, 2024