Reinsurance News
Assurant has revealed that it expects its Global Housing segment to record approximately $46 million pre-tax, or $36 million after-tax, of reportable catastrophes for Q2 of 2024. As per the firm, no single event is anticipated to exceed $15 millio...
Posted: Jul 17, 2024
WTW, an advisory, broking, and solutions firm, has appointed Aartie Manansingh as Head of the Private Equity and Transaction Solutions Industry Group within Corporate Risk and Broking, North America (CRB NA). Jorgen Andersson and Peter Galla will...
Posted: Jul 17, 2024
US primary insurer Progressive has reversed the previously announced reinsurance recoverable of $95 million under its per occurrence reinsurance contracts, as the firm “remains close” to reaching the annual retention thresholds under i...
Posted: Jul 17, 2024
Cytora, a digital risk processing platform, has partnered with Gamma Risk, a global provider of location intelligence systems and services, to help insurers map out commercial property risk assessment. Aiming to provide insurers with enhanced tool...
Posted: Jul 17, 2024
Global insurance and reinsurance industry losses from natural catastrophes in the first half of 2024 reached at least $61 billion, coming in 25% higher than the first half decadal average on the back of the second costliest H1 on record for the US...
Posted: Jul 17, 2024
Lemonade, the digital insurance organisation, has expanded its UK homeowners offering with the launch of buildings and contents insurance, in a continuation of the firm’s ongoing partnership with Aviva. According to the announcement, homeown...
Posted: Jul 17, 2024
Florida Peninsula Holdings and Windward Holdings, which own and manage Florida Peninsula Insurance, Edison Insurance, and Ovation Home Insurance Exchange, have appointed Gary Cantor, currently the Chief Financial Officer (CFO), as Vice Chairman of...
Posted: Jul 17, 2024
Allied Trust Insurance Company has announced the launch of its homeowners insurance program in North Carolina, US, to provide coverage focused insurance options for coastal residents. Having entered the North Carolina insurance market in 2022 afte...
Posted: Jul 17, 2024
Global insurance and reinsurance broking group Aon has named Lloyd’s of London’s Ed Thomas as head of Lloyd’s Capital within its Reinsurance Solutions Capital Advisory team, based in London. In his new role, Thomas takes on responsibil...
Posted: Jul 16, 2024
To better support the underwriting of a growing line of business and enhance product and service offerings, TransRe, a global reinsurer, has announced the promotion of Tina Kališnik to Global Portfolio Leader, Cyber, and Diana Liu to US Cyber Unde...
Posted: Jul 16, 2024
Global insured losses from natural disasters are expected to continue rising at an annual rate of 5-7% relative to GDP, according to Kera McDonald, Chief Underwriting Officer at Swiss Re Corporate Solutions. During Swiss Re’s recent media dialogue...
Posted: Jul 16, 2024
Global speciality re/insurer SiriusPoint has announced its partnership with Service First Insurance, a managing general agent (MGA) that provides insurance solutions for the commercial and business markets in the Republic of Ireland. Service First...
Posted: Jul 16, 2024
Global multi-line reinsurer Fortitude Re has appointed Greta Hager as its new Chief Financial Officer (CFO), with Kai Talarek transitioning to the newly created role of Chief Growth & Optimization Officer, effective August 17th, 2024. Both Hag...
Posted: Jul 16, 2024
Global insurer QBE has launched QCyberProtect, a comprehensive and consistent cyber policy designed to enhance cyber resilience for a diverse range of clients across the globe. QCyberProtect offers customised coverage for losses from various cyber...
Posted: Jul 16, 2024
Global property and casualty insurer Chubb has appointed Peter Kelaher as Division President of Continental Europe, Middle East and North Africa (EMEA), subject to regulatory approval. The appointment is expected to be effective September 1st, 202...
Posted: Jul 16, 2024
The Reinsurance Association of America (RAA), a trade association representing property and casualty reinsurers, and the National Oceanic and Atmospheric Administration (NOAA), an US federal agency focused on the conditions of the oceans, major wa...
Posted: Jul 16, 2024
Insurtech funding in Latin America (LatAm) fell to a historic low of $26 million during the first half of 2024, marking a 78% decline from the same period in 2023. Looking at the period between July 2023 – June 2024, inclusively, the total r...
Posted: Jul 16, 2024
West P&I, an insurance provider for the global maritime and offshore industries, has announced the appointment of Katy Shearer as Chief Risk Officer, adding her role to the Management Board of Directors. This decision highlights Shearer’s sign...
Posted: Jul 16, 2024
Jamaica’s Minister of Finance, Dr. Nigel Clarke, has revealed that the country’s Excess Rainfall Policy with the Caribbean Catastrophe Risk Insurance Facility (CCRIF) has been triggered following Hurricane Beryl, providing Jamaica with an addition...
Posted: Jul 16, 2024
In order to adopt the International Financial Reporting Standard 17 (IFRS17) by the official target date India’s General Insurance Corporation (GIC Re) has chosen to implement SAP Fioneer’s Financial Products Subledger (FPSL) for Insurance s...
Posted: Jul 16, 2024
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