Reinsurance News
In a global report commissioned by Novidea, the digital transformation of the insurance industry takes center stage, revealing that 75% of insurance organisations worldwide are set to replace their core insurance management platforms by 2025. Howe...
Posted: Jan 25, 2024
Mark Cloutier, the Executive Chair and Group Chief Executive Officer (CEO) at insurer and reinsurer Aspen, takes over as First Deputy Chair of the Association of Bermuda Insurers and Reinsurers (ABIR) from Christopher Schaper. Cloutier has over 35...
Posted: Jan 24, 2024
Peter Vogt, the Chief Financial Officer (CFO) of Bermuda-based specialty insurer and reinsurer, AXIS Capital Holdings, said yesterday that while the firm explored numerous available options, it ultimately felt that strengthening its reserves provi...
Posted: Jan 24, 2024
Global credit ratings agency AM Best, has announced that it has removed from under review with positive implications, and upgraded the Financial Strength Rating to B+ (Good) from B (Fair) and the Long-Term Issuer Credit Rating to “bbb-” (Good) fro...
Posted: Jan 24, 2024
Property, casualty, and accident & health insurer, Crum & Forster, has announced the promotion of John Henriques to Senior Vice President and Chief Actuary of A&H. In his new role, Henriques will continue to lead the actuarial team in...
Posted: Jan 24, 2024
According to Fitch Ratings, reinsurance capital is estimated to have surged by 11%, reaching approximately USD 535 billion by the end of 2023, partially offsetting the losses incurred in the previous year. The global reinsurance industry witnessed...
Posted: Jan 24, 2024
ChainThat, a London-based insurtech, has announced the appointment of Vikas Acharya as Chief Executive Officer (CEO), with immediate effect. Acharya has rich enterprise technology experience in the insurance market, and as Co-Founder of the busine...
Posted: Jan 24, 2024
Since its inception in 2019, DeNexus, the specialist provider of cyber risk quantification tools and software, continues to invest heavily to improve its technology and analytics, and with the sixth version of its DeRISK platform in the works and...
Posted: Jan 24, 2024
Global provider of property information, analytics, and data-enabled solutions, CoreLogic is working with insurtech Artigem to launch new contents estimation capabilities within the CoreLogic Claims | Workspace platform. With these new capabi...
Posted: Jan 24, 2024
Strategic Risk Solutions (SRS), the independent insurance company manager, has hired experienced industry leader Tom Keist as SRS Altitude’s Chief Commercial Officer effective April 1, 2024. SRS Altitude is a Managing General Underwriter (MG...
Posted: Jan 24, 2024
Global specialty insurance firm Ascot Group has made a number of senior appointments as it looks to strengthen its U.S. Excess Casualty operations, including Ashley Hofler Hunley as Vice President (VP), Southeast; Erin Osborne as VP, Northeast; Sh...
Posted: Jan 24, 2024
Middle-market P&C broker NFP has acquired Advanced Insurance Consultants Limited (AIC), an insurance broker based in London. According to NFP, AIC’s specialised expertise includes the agriculture, marine, leisure, vehicle and constructio...
Posted: Jan 24, 2024
In Aon’s 2024 Climate and Catastrophe Insight report, CEO Greg Case emphasises that climate risk is not a mere probability but a certainty that demands urgent attention. Reflecting on the severe weather events that transpired in 2023, includ...
Posted: Jan 24, 2024
Analysts at Moody’s have highlighted how the reinsurance industry witnessed strong results in 2023, despite a continued elevated level of catastrophe activity, which saw more than $100 billion global insured losses. Moody’s explained t...
Posted: Jan 24, 2024
Specialist insurer Beazley has announced the appointment of Beth Diamond as Group Chief Claims and Litigation Officer. In her expanded role she manages an industry-leading team servicing claims from a diverse variety of specialty insurance lines....
Posted: Jan 24, 2024
FRISS, an AI-powered fraud and risk solution provider for P&C insurers, has partnered with FIN-X, a research initiative by the University of Applied Science Utrecht that focuses on innovative technologies and responsible artificial intelligenc...
Posted: Jan 24, 2024
Insurance brokerage firm, Brown & Brown, has appointed Kathleen A. Savio, former chief transformation officer of Zurich Insurance Group, to Brown & Brown’s board of directors. Savio retired from Zurich Insurance Group, effective December 3...
Posted: Jan 24, 2024
According to a new report from Fitch Ratings, reinsurers’ underwriting margins are “likely to peak in 2024” due to significant price rises and tighter terms and conditions achieved in 2023 and in early January 2024 renewals. The rating...
Posted: Jan 24, 2024
According to a new report from Fitch Ratings, reinsurers’ underwriting margins are “likely to peak in 2024” due to significant price rises and tighter terms and conditions achieved in 2023 and in early January 2024 renewals. The rating...
Posted: Jan 24, 2024
The Insurance Council of Australia (ICA) has disclosed its first insured loss estimate for ex-Tropical Cyclone Jasper and the Christmas and New Year storms, estimating the costs from these events to exceed $743 million. Marking out the particulars...
Posted: Jan 24, 2024
The Insurance Council of Australia (ICA) has disclosed its first insured loss estimate for ex-Tropical Cyclone Jasper and the Christmas and New Year storms, anticipating the costs from these events to exceed $743 million. Marking out the particula...
Posted: Jan 24, 2024
Global specialty underwriter and provider of re/insurance, AXIS Capital Holdings Limited, has announced the strengthening of prior year reserves in Q4 2023 by $425 million, pre-tax, or $361 million, after-tax. The company notes that the reserve st...
Posted: Jan 24, 2024
AmTrust Title, a subsidiary of AmTrust Financial Services, Inc., has been named the lead title insurance company for the SunZia Wind and Transmission project, which is under construction in the Southwest United States by its owner Pattern Energy G...
Posted: Jan 24, 2024
The Lloyd’s Market Association (LMA) has set the stage for a transformative year, announcing its 2024 Strategic Focus with a bold vision for innovation, technical expertise, regulatory engagement, talent development, and member engagement. A centr...
Posted: Jan 24, 2024
Global re/insurance broker, WTW has appointed Jody Yee as the US East Coast Leader for the Technology, Media & Telecommunications (TMT) industry division within the Corporate, Risk, and Broking business in North America (CRB NA) . Based in New...
Posted: Jan 24, 2024