Reinsurance News
Root, an end-to-end digital insurance platform, has hired Alex Astengo as UK Country Manager, where he will be based in London. Astengo brings significant experience in working for SaaS platform-based businesses which offer solutions to insurers,...
Posted: Jan 24, 2024
Providing insight from the 2024 World Economic Forum in Davos, Swiss Re’s CEO P&C Re, Urs Baertschi, suggested many business leaders view AI as an evolutionary technology, rather than a revolutionary one, though he remains hopeful that i...
Posted: Jan 23, 2024
Global fintech company, Acrisure, has announced the formation of the company’s Northwest Region, to be led by Managing Partner Jim Hunt. The Northwest Region, long known for innovation in aerospace, mining, forestry and energy production, will enc...
Posted: Jan 23, 2024
IVANS has reported an increase in average premium renewal rate change across all major commercial lines in the fourth quarter of 2023. All lines are up year-over-year, expect for Workers’ Compensation, IVANS noted. Business Owner’s Policy (B...
Posted: Jan 23, 2024
In its recently published 2024 Climate and Catastrophe Insight report, insurance and reinsurance broker Aon disclosed a huge $118 billion in global insured losses during the 12-month period under review. This marks the fourth consecutive year that...
Posted: Jan 23, 2024
AdvantageGo, a commercial re/insurance software provider and part of Coforge, has announced a strategic alliance with Sea Change London, a specialist insurance consultancy. “Sea Change is a trusted advisor to the London market, particularly for in...
Posted: Jan 23, 2024
In a strategic move to expand its presence in the UK, Howden, the global insurance group, has successfully acquired Laurie Ross, a prominent personal and commercial lines broker based in Scotland. The announcement was made as part of Howden’...
Posted: Jan 23, 2024
Sands Point Risk, a new entrant in the insurance industry, has officially launched its operations as a managing general agent (MGA) with a focus on providing expanded opportunities in financial and property and casualty insurance lines. The compan...
Posted: Jan 23, 2024
GeoVera Insurance Holdings, Ltd., a provider of specialty property insurance, has announced that Glenn Pomeroy, longtime CEO of the California Earthquake Authority (CEA), will join the firm, taking on the role of Executive Vice President of Market...
Posted: Jan 23, 2024
International insurance group Ageas has created a new role given the growth and ambitions of the reinsurance activities within the Group, naming Emmanuel Van Grimbergen as Managing Director, Reinsurance & Investments. Van Grimbergen, currently...
Posted: Jan 23, 2024
In the latest analysis from Moody’s, the January 2024 reinsurance renewals have shown moderate gains as supply constraints eased, resulting in balanced dynamics between supply and demand. Despite global insured catastrophe losses reaching ap...
Posted: Jan 23, 2024
According to broker WTW, the UK defined benefit pensions market is likely to see £80 billion in pension de-risking transactions take place in 2024, as the settlement market continues to heighten following considerable improvements in pension schem...
Posted: Jan 23, 2024
Lloyd’s has announced that Chris Mackinnon is set to become its regional director for Asia Pacific Middle East and Africa following Ian Ferguson’s retirement at the end of 2024. Mackinnon is an industry veteran with an international ca...
Posted: Jan 23, 2024
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has announced the promotion of Sarah Howell to the role of London Head of First Party Claims. Howell will take over her new role with immediate effect and report to Scott Kel...
Posted: Jan 23, 2024
Lombard International US & Bermuda has announced that it is rebranding to Axcelus Financial after getting acquired by an affiliate of specialised asset management firm BroadRiver Asset Management, L.P. The firm explained that as it embarks on...
Posted: Jan 23, 2024
Fenchurch Law, a UK-based firm working exclusively for insurance policyholders and brokers, has expanded its coverage disputes team in London with two new hires: Jessica Chappell who joins as a Senior Associate, and Isabel Becker who joins Fenchur...
Posted: Jan 23, 2024
The Fortegra Group, Inc., a global specialty insurer and a subsidiary of Tiptree Inc., has appointed Eric Halter as Senior Vice President, Business Development. Halter holds over three and a half decades of experience in the insurance and financia...
Posted: Jan 23, 2024
Brown & Brown, Inc. has disclosed that total revenues for the full year 2023 reached $4.26 billion, increasing $683.7 million, or 19.1%, compared with 2022. Brown & Brown also reported in its full year results that commissions and fees inc...
Posted: Jan 23, 2024
In the face of growing concerns over the insurability of modern risks such as cyber threats and climate-related disasters, the insurance industry is stepping up its game, according to the recently published Allianz Risk Barometer 2024. The report...
Posted: Jan 23, 2024
US insurance brokerage World Insurance Associates LLC (World), has announced the appointment of John Peterson as chief growth officer, effective January 10, 2024. In his new role, based in Chicago, Peterson will be dedicated to driving new busines...
Posted: Jan 23, 2024
Some UK life insurers are likely to pass on more of their earned interest to customers in order to protect their reputations, a move that may oppose consumer duty rules introduced in July 2023 which keep driving changes, according to a recent repo...
Posted: Jan 23, 2024
VHV Reinsurance, a subsidiary of the German insurer VHV Group, has named Emrah Balkan as the Assistant General Manager of the firm as Gürer Baykal steps down from his position to pursue a new career. Maximilian Stahl, Chief Executive Officer, VHV...
Posted: Jan 23, 2024
In a strategic move to bolster its capabilities in the Australian market, Sedgwick, a global leader in technology-enabled risk, benefits, and integrated business solutions, has named Jonathon Vaisey as its Head of Major and Complex Loss Property....
Posted: Jan 23, 2024
Privately owned reinsurance company, Himalayan Re-Insurance, has expanded its business to 31 countries as it has been allowed to do reinsurance business from India. According to the announcement, the country’s Insurance Regulatory and Development...
Posted: Jan 22, 2024
Global ratings agency Fitch expects returns to remain favourable for Bermuda reinsurers in 2024 amid still attractive market conditions, with the underlying combined ratio anticipated to stabilise or improve slightly on the 85%-86% for 2023. Accor...
Posted: Jan 22, 2024