Reinsurance News
Scandinavian insurance company Tryg has reported its financial results for the fiscal year 2023, showcasing resilience and growth amidst a challenging operating environment. Tryg experienced a commendable premium growth of 4.8% in local currencies...
Posted: Jan 26, 2024
The results of the latest Applied Rating Index by Applied Systems shows that average premiums for both Personal Auto lines and Personal Property lines increased in Canada year over year, in the fourth quarter of 2023. According to Applied Systems,...
Posted: Jan 26, 2024
AM Best has revised the outlooks to positive from stable of Ocean Re, a Barbados-based reinsurer, a move that recognizes its disciplined underwriting. The rating agency also affirmed the reinsurer’s Financial Strength Rating (FSR) of A- (Excellent...
Posted: Jan 26, 2024
Carbon Underwriting, a specialist independent managing general underwriter (MGA) and Lloyd’s syndicate, has appointed Dale Willetts as Head of Specialty. Willetts’s priority in 2024 will be to spearhead the development and growth of Carbon’s...
Posted: Jan 25, 2024
Everest Insurance, the insurance division of Everest Group, Ltd., has launched a dedicated Private Equity practice, which will expand the organisation’s offerings across property and casualty (P&C) lines to serve the needs of private equ...
Posted: Jan 25, 2024
Overall, capacity was adequate for the completion of most programmes at the January 1st, 2024, reinsurance renewals, and with dedicated reinsurance capital growth in the double-digits, it was a positive renewal, according to Dean Klisura, Presiden...
Posted: Jan 25, 2024
The London Market Group has announced the appointment of two new board members, Jane Warren and Claire McDonald, as representatives of the different market Associations for 2024. Warren is an Active Underwriter for Liberty Specialty Markets’ Syndi...
Posted: Jan 25, 2024
Home insurance group, Hippo, has completed the placement of its 2024 reinsurance program with improved terms for the second year in a row. Rick McCathron, CEO and President, commented, “Our reinsurance partners have affirmed their confidence...
Posted: Jan 25, 2024
Chubb, the property and casualty (P&C) insurer, has hired Anna Källs as Country Manager for Sweden and Finland, effective from February 1, 2024. Källs joins the firm from global re/insurance broker WTW, where she served as Head of Large &...
Posted: Jan 25, 2024
Parametric insurance is said to be significantly disrupting and complementing traditional insurance models across the climate industry, by offering innovative solutions that address the shortcomings of conventional approaches. In the face of clima...
Posted: Jan 25, 2024
MS Amlin, the Lloyd’s global specialty re/insurer, has confirmed that its Singapore-domiciled operation, MS Amlin Asia Pacific Pte. Ltd (MS AAP), has secured collateralised capacity through numerous investors worldwide for the successful renewal o...
Posted: Jan 25, 2024
Guy Carpenter, a global risk and reinsurance specialist and a business of Marsh McLennan, has reported total revenue in Q4 of 2023 of $252 million, marking an increase of 9% on an underlying basis. For the year 2023, Guy Carpenter’s revenue...
Posted: Jan 25, 2024
More than 140 insurance industry plaintiffs, including State Farm, Swiss Re and Lloyd’s, have reportedly joined lawsuits filed against utilities and landowners related to the Maui, Hawaii wildfires, which destroyed much of Lahaina and killed...
Posted: Jan 25, 2024
Hannover Re appointed Olaf Brock as Managing Director of Hannover ReTakaful and the Bahrain Branch in Manama, effective January 1, 2024. Brock, most recently in the role of Managing Director Group Finance at Hannover Re, began his tenure with the...
Posted: Jan 25, 2024
Property and casualty re/insurer W. R. Berkley Corporation has reported a Q4 2023 combined ratio of 88.4%, including current accident year catastrophe losses of $32 million, as the company’s pre-tax underwriting income grew more than 8% to a...
Posted: Jan 25, 2024
Zug, Switzerland based reinsurer SIGNAL IDUNA Reinsurance Ltd (SI Re) further enhanced the profitability of its book at the January 1st, 2024, reinsurance renewals, while cutting its exposure to frequency risks and growing its share in non-proport...
Posted: Jan 25, 2024
International re/insurance group Aventum has promoted John Eldridge to the role of Managing Director. Eldridge was most recently Chief Commercial Officer of the group, having joined Aventum in 2020. Before this, he held leadership roles at a range...
Posted: Jan 25, 2024
Pan-African-focused reinsurance group Africa Specialty Risks (ASR) has been approved ‘in principle’ by the Dubai Financial Service Authority to register as a company, setting the stage for the incorporation of a new entity, ASR Middle East. Accord...
Posted: Jan 25, 2024
RLI Corp. has reported a full year underwriting income of $173.2 million on a combined ratio of 86.6%, compared to $178.2 million on a combined ratio of 84.4% in 2022. The firm explained that favourable development in prior years’ loss reserves re...
Posted: Jan 25, 2024
Bermuda-based reinsurer Conduit Re has reported estimated ultimate premiums written of $582.4 million at a “very strong” January 1st, 2024, reinsurance renewals for the company, driven by solid year-on-year growth in property and speci...
Posted: Jan 25, 2024
Reinsurance Group of America, Incorporated (RGA) has named Sunil Sharma as the country Chief Executive Officer (CEO) for RGA Life Reinsurance Company of Canada India Branch (RGA India). The appointment is subject to approval from the Insurance Reg...
Posted: Jan 25, 2024
The Progressive Corporation has reported a Q4 2023 net income of $1.99 billion, up a massive 141% compared with the same period of 2022. The firm also disclosed that its combined ratio smoothed out in the quarter, dropping down to 88.7% compared t...
Posted: Jan 25, 2024
In a strategic move to address the growing challenges of flood risk exacerbated by climate change, Capella Space Corp., a prominent American space tech company specialising in satellite solutions, has announced a partnership with Floodbase, a lead...
Posted: Jan 25, 2024
INSTANDA, a no-code, digital platform for insurance carriers and managing general agents, has announced the promotion of Katy Murray to vice president of client success, where she will oversee all client relationships in North America. In her new...
Posted: Jan 25, 2024
Florida-based broker AssuredPartners (AP) is expanding its leadership team with four new Regional Presidents named to run operations throughout the retail division of the global insurance brokerage, effective January 1, 2024. These include Jon Tay...
Posted: Jan 25, 2024