Reinsurance News
Although it will be some time before the overall losses and impacts from Hurricane Beryl are understood, John McGlynn, a senior financial analyst at AM Best, expects losses to the reinsurance industry to be within risk appetite and contained in th...
Posted: Jul 04, 2024
Mid-year cyber renewals have signalled further improvements for buyers, with plenty of capacity and increased competition leading to positive outcomes for most insurers, according to insurance and reinsurance broker Aon. After a period of rapid pr...
Posted: Jul 04, 2024
CURE Auto Insurance and Way.com partner to protect customers’ cars from damage due to hurricanes and tropical storms as these can cause millions in damage. A white glove service, the initiative Catastrophe Loss Mitigation program, will notif...
Posted: Jul 04, 2024
Selective Insurance Group, Inc. has appointed Kate Sampson to its Board of Directors, effective July 1st, 2024, taking the number of members on the Board to 13, before expected retirements. Sampson is an industry veteran with over 25 years of expe...
Posted: Jul 04, 2024
Charles Taylor, a provider of international adjustment services and technology solutions for the global insurance market, has announced the acquisition of M3 Aviation Services, effective June 27, 2024. Renowned for its expertise in handling aviati...
Posted: Jul 04, 2024
Legal & General Assurance Society Limited has completed a £21 million buy-in with The Leprosy Mission Central Pension Scheme, insuring the benefits of 197 retirees and 88 deferred members. The Scheme has reportedly been a client of Legal &...
Posted: Jul 04, 2024
Kairos Risk Solutions, a Singapore-based boutique insurance solutions consultancy, has recently announced the appointment of David Chew as Director, Satellite Solutions. In his new role, Chew will collaborate closely with Andre Siregar, CTO, Casmo...
Posted: Jul 03, 2024
According to a recent poll from Reinsurance News, artificial intelligence (AI) is anticipated to have the least impact in customer service, whilst nearly half of industry respondents believe that AI will have the biggest impact in risk modelling &...
Posted: Jul 03, 2024
By conducting risk assessments insurers can help businesses in the Asian marine industry to understand their existing operations and ways in which they can reduce claims as they navigate a sector full of challenges, QBE analysts state. The marine...
Posted: Jul 03, 2024
AnaCap, a private equity investor specialising in collaborations with founders and entrepreneurial management teams across services, technology, and software in the European financial sector, has entered into exclusive negotiations to acquire the...
Posted: Jul 03, 2024
Everest Insurance has announced the appointments of François-Xavier d’Huart as Head of France and Europe Strategic Projects and Anne Charon as Head of Client Engagement, Europe for Everest Insurance International, in a move that expands the...
Posted: Jul 03, 2024
Munich Re’s Risk Management Partners is teaming with CGI, the business and IT consulting services firm, in a move that is set to help insurers reduce claims, increase profits, and drive long-term value through climate risk mitigation. This p...
Posted: Jul 03, 2024
Specialist global insurer, Hiscox, has announced the appointment of Curtis L. Dickinson as a Non Executive Director for its subsidiary Hiscox Insurance Company (Bermuda) Limited (HIB) board, subject to regulatory approval. Dickinson, who has over...
Posted: Jul 03, 2024
The June 1 and July 1, 2024, reinsurance renewals revealed sufficient capacity to meet increased demand, with an additional $5 billion available for US insurers covering catastrophe-exposed properties compared to last year, according to insurance...
Posted: Jul 03, 2024
As generative AI (Gen AI) continues to be adopted across the re/insurance sector, it is becoming more clear that the technology will be truly transformative for the industry. However, it appears that there is still a lot of foundational work that...
Posted: Jul 03, 2024
Sompo, a global provider of commercial and consumer property, casualty, and specialty re/insurance, has announced the appointment of Christoph Müller as Country Manager, Insurance for Switzerland. In his new role, Müller will report directly to Ra...
Posted: Jul 03, 2024
Reinsurance broker Guy Carpenter’s mid-year reinsurance renewal report reveals that some upper layers of property placements saw risk-adjusted decreases of 10% or more for accounts without loss impacts. However, the broker finds that mid-yea...
Posted: Jul 03, 2024
WTW, an advisory, broking, and solutions firm, has named Aon’s James Baum as the Head of Australia and New Zealand and the Head of Corporate Risk & Broking (CRB) for these regions, starting on July 15. Simon Weaver will continue his duti...
Posted: Jul 03, 2024
Lexasure Financial Group Limited (Lexasure), specialising in reinsurance, insurance, and insurtech solutions across South and Southeast Asia, joins forces with OneDegree Global (ODG), the technology division of OneDegree Group renowned for its IXT...
Posted: Jul 03, 2024
Independent specialist re/insurance broker Miller has made three new hires in its Solicitors’ Professional Indemnity (PI) team, namely Calum MacLean, Chris Jones and Tom Davies. All will report to Zarina Lawley, Head of Legal Services. Calum MacLe...
Posted: Jul 03, 2024
Marsh McLennan Agency, a subsidiary of Marsh, has acquired Hudson Shore Group, a public and private sector employee benefits broker based in Red Bank, New Jersey, US, in an undisclosed transaction. Founded in 2010, Hudson Shore Group specialises i...
Posted: Jul 03, 2024
Pension Insurance Corporation plc (PIC) has completed a £1.2 billion buy-in with the Trustee of the TotalEnergies UK Pension Plan, sponsored by TotalEnergies, an energy company involved in oil, biofuels, natural gas, green gases, renewables, and e...
Posted: Jul 03, 2024
Global insurance and reinsurance broker Aon has announced the appointments of Luis Acevedo as Head of Analytics for Commercial Risk in Latin America and Peter Cheesman as Head of Analytics for Risk Capital in Asia Pacific (APAC), in addition to hi...
Posted: Jul 03, 2024
Global advisory, broking, and solutions company WTW has revealed the introduction of IMI Plus, an enhanced investment management insurance solution designed to meet the needs of all kinds of asset managers, including wealth managers, hedge funds,...
Posted: Jul 03, 2024
David Sungjin Kim has become the new Chief Executive Officer of Korean Re London, a position he will hold while also maintaining his role as Director of Korean Re Underwriting Limited (KRUL). Korean Re London is a wholly owned subsidiary of Seoul...
Posted: Jul 03, 2024