Reinsurance News
McGriff, one of the largest retail insurance brokers in the U.S., has announced the promotion of Erik Zentler to the position of Practice Leader for its Aviation practice based in Seattle. Zentler, with nearly two decades of experience in aviation...
Posted: Jan 29, 2024
Conduit Holdings Limited (CHL), the parent company of Conduit Re, anticipates its comprehensive income for the year to be greater than current consensus forecasts, driven by a more positive valuation of investments. According to the firm, in the s...
Posted: Jan 29, 2024
Global insurance broker Howden’s carbon capture and storage insurance facility aims to unlock crucial investment to support the global transition to net zero and is the second innovative solution from the firm designed to support the growth...
Posted: Jan 29, 2024
Car insurance premiums in the UK have increased sharply by 58% in 2023 with UK motorists now paying £995 on average, according to the latest Confused.com Car Insurance Price Index in association with broker WTW. The Index recorded a £366 year-on-y...
Posted: Jan 29, 2024
With the cumulative effects of the winter storms across the United States, total economic and insured losses are anticipated to surge into the hundreds of millions USD, possibly higher, according to Aon’s latest weekly cat report released on Janua...
Posted: Jan 29, 2024
OneAdvent, a specialist managing general agent (MGA) and broker services platform, has launched a new MGA, Criterion Ltd, to provide a much needed service to the “critically underserved” recycling sector. Criterion will underwrite niche classes of...
Posted: Jan 29, 2024
The re/insurance industry is to see broad-based pricing momentum within casualty lines in 2024, mainly driven by social inflation, according to Robert Berkley, Jr., President and CEO of W. R. Berkley Corporation. In addition to social inflation, t...
Posted: Jan 26, 2024
Over half of US insurers are willing to embrace more portfolio risk in 2024 and to welcome artificial intelligence tools in the investment process, according to a recent survey by insurance asset management firm Conning. The survey was completed b...
Posted: Jan 26, 2024
In advance of the Senate Committee on Banking, Housing, and Urban Affairs’ hearing on the “Reauthorization of the National Flood Insurance Program: Local Perspectives on Challenges and Solutions,” Lee Covington, President of the...
Posted: Jan 26, 2024
UK-based flood science specialist JBA Risk Management has partnered with South African non-life insurer Old Mutual Insure for the use of its detailed flood maps in the country. Haydn Marchant, re/insurance Specialist, JBA Risk Management, commente...
Posted: Jan 26, 2024
In Arthur J. Gallagher & Co.’s Q4 earnings call, J. Patrick Gallagher, Jr., Chairman and CEO, provided insights into the 1/1 renewals in the reinsurance market, highlighting an orderly process and a more balanced supply-demand dynamic. T...
Posted: Jan 26, 2024
Analysts at Fitch Ratings have explained that their sector outlook for the UK non-life London market is improving for 2024, with price increases and higher reinvestment yields expected to offset claims inflation. The rating agency also says that d...
Posted: Jan 26, 2024
Hunter Point Capital (HPC), an independent investment firm providing capital solutions to alternative asset managers, has hired Phillip Titolo as a Managing Director and Head of Insurance Solutions, effective January 29, 2024. In his new role, Tit...
Posted: Jan 26, 2024
The Cayman Islands Monetary Authority (CIMA) has confirmed the issuance of 40 new international insurance licenses, the largest number of licenses issued in a single year in more than a decade, according to its quarterly insurance sector licensing...
Posted: Jan 26, 2024
In a strategic move towards fostering innovative climate solutions, QBE North America has launched the QBE Possibilities Fund. This initiative is dedicated to supporting collaborative early-stage climate projects aiming to contribute to a more res...
Posted: Jan 26, 2024
Global insurance group Howden, has added two new hires to its Cyber team, Kristoffer Haleen as Head of Cyber, Northern Europe and Manuel Perez Martín de la Hinojosa as Head of Cyber, Southern Europe and LATAM. Based in Sweden, Haleen joins Howden...
Posted: Jan 26, 2024
Arbol, the global climate risk coverage platform, has executed an innovative parametric risk transfer on the NASDAQ Veles California Water Index NQH2O. A first-of-its-kind trade, which has a call spread option that expires on June 20, 2024, repres...
Posted: Jan 26, 2024
Spanish insurance company MAPFRE has selected insurtech Akur8’s RISK and RATE modules to boost their pricing capabilities. According to the announcement, this collaboration will empower MAPFRE’s actuarial team to build powerful, explainable pricin...
Posted: Jan 26, 2024
Insurance and reinsurance broker Aon has added Jose Antonio Álvarez, the former Chief Executive Officer (CEO) of Santander, to its Board of Directors, effective January 24th, 2024. Lester B. Knight, Chair of Aon’s board, commented on the app...
Posted: Jan 26, 2024
Blink Parametric has extended its partnership with Blue Cross, as it has secured a further three-year with the Canadian insurance provider. The Irish insurtech has also announced its partnership with Baloise, one of the largest Swiss all-industry...
Posted: Jan 26, 2024
Arthur J. Gallagher & Co. has reported full year 2023 total revenues of $9.9 billion, up substantially from the $8.4 billion recorded in 2022. Gallagher’s core brokerage segment reportedly made up $8.6 billion of the total revenue, while...
Posted: Jan 26, 2024
Porch Group, a software-driven financial services firm and Aon have entered into a $30 million strategic agreement whereby the re/insurance broker will provide services to the company. Interestingly, the agreement includes the release of all claim...
Posted: Jan 26, 2024
A recent analysis by Aviva, the UK’s largest home insurer, has unveiled concerning findings regarding the vulnerability of new homes in England to flooding. The study reveals that 8% of new homes built in the last decade, equivalent to nearl...
Posted: Jan 26, 2024
In its preliminary results for the fourth quarter of 2023, Kemper has announced an estimated net income and adjusted consolidated net operating income between $45 million and $55 million. According to the firm, net income includes approximately $1...
Posted: Jan 26, 2024
Pacific Life Re, the global reinsurer and wholly owned subsidiary of Pacific Life, has reshuffled its organisational structure to move from a geographical-based to a product-based management structure, with two global lines of business: protection...
Posted: Jan 26, 2024