Reinsurance News
A new report from Gallagher Re has observed that reinsurers overall maintained a healthy appetite and stable capacity for US Casualty lines at the July 1 renewals. Commenting on the US general third party liability segment of the casualty insuranc...
Posted: Jul 03, 2024
Ryan Specialty Holdings, the international specialty insurance firm, has made a number of executive leadership team promotions for Ryan Turner Specialty (RT Specialty), the company’s wholesale brokerage division, effective October 1, 2024. A...
Posted: Jul 03, 2024
Re/insurance broker Arthur J. Gallagher & Co. has acquired California-based Cornerstone Commercial & Personal Insurance Services, Inc. (Cornerstone) in an undisclosed transaction. Cornerstone has been serving both commercial and personal c...
Posted: Jul 03, 2024
Insurance brokerage, Relation Insurance Services, has acquired the assets of York Insurance Services, Inc. (York). The transaction went into effect on May 31, 2024. Terms of the transaction were not disclosed. Based in Forest Hill, Maryland, York...
Posted: Jul 03, 2024
Howden, a global insurance intermediary group, has entered the Japanese market with the launch of Howden Re Japan, and also announced a new insurance-linked securities (ILS) partnership with Keystone ILS Capital, a boutique consultancy focused on...
Posted: Jul 03, 2024
Berkshire Hathaway Specialty Insurance (BHSI) has recently expanded into the Nordic countries with a new office opening in Stockholm, Sweden. The Nordic office will offer services in Executive & Professional Lines, General Property, Energy, an...
Posted: Jul 03, 2024
Industrial generative AI company, Zapata Computing Holdings Inc., and KPMG UK, an audit, tax, and advisory services firm, have completed a successful client project to streamline the compliance models of an international insurance firm. By leverag...
Posted: Jul 03, 2024
Liberty Specialty Markets (LSM), a division of the Liberty Mutual group, has hired a new Head of Client & Broker Distribution, Continental Europe, Karine Paul, who will take over her role with immediate effect. In her new role, Paul has a wide...
Posted: Jul 02, 2024
AM Best reports that the US Property/Casualty (P/C) insurance industry faced another year of underwriting losses surpassing $20 billion in 2023, at $21.7 billion, largely driven by unprofitable private passenger auto and homeowners/farm owners mar...
Posted: Jul 02, 2024
Fleming Insurance Holdings, a P&C insurance capital solutions provider, has appointed Michael Garceau as Chief Financial Officer (CFO) and Chief Operating Officer (COO), a pivotal addition to its executive leadership team as the company expand...
Posted: Jul 02, 2024
SiriusPoint, a global specialty re/insurer, and Tara Hill Insurance Services, a newly launched Excess and Surplus (E&S) program administrator, have formed a strategic partnership. As part of the Cirrata Group, Tara Hill was established to deve...
Posted: Jul 02, 2024
Innovisk Capital Partners (Innovisk), a private equity-backed MGA platform, has recently appointed Praveen Reddy as its new Global President and Chief Operating Officer (COO). Founded in 2017, Innovisk is dedicated to investing in and growing entr...
Posted: Jul 02, 2024
Reinsurance broker Howden Re and Keenan have completed a strategic Loss Portfolio Transfer (LPT) between one of the largest California workers’ compensation joint powers authorities (the JPA) and a top-ten global reinsurer. Howden Re was responsib...
Posted: Jul 02, 2024
Alternative asset manager Blue Owl Capital Inc. has completed its previously announced acquisition of Kuvare Insurance Services LP (dba Kuvare Asset Management) (KAM), marking the official launch of Blue Owl Insurance Solutions. The $750 million a...
Posted: Jul 02, 2024
A record $8.4 billion of catastrophe bond and related insurance-linked securities (ILS) issuance occurred in the second quarter of 2024, taking first half issuance to a new high of $12.6 billion, and the outstanding market to a record $48 billion,...
Posted: Jul 02, 2024
Specialist insurer Beazley has appointed Lucien Mounier as Head of Europe, Cyber Risks. Reporting to Alessandro Lezzi, Head of International Cyber Risks, Mounier will be responsible for the establishment and oversight of Beazley’s cyber portfolio...
Posted: Jul 02, 2024
Monument Re has announced that its Belgian subsidiary, Monument Assurance Belgium, has successfully acquired a branch 21 closed book classical group life insurance portfolio from Contassur. Koen Depaemelaere, CEO of Monument Assurance Belgium and...
Posted: Jul 02, 2024
CRESTA, a provider of insurance industry loss data on non-US catastrophe events which have driven losses of above $1 billion, has released the Q2 2024 update of its CRESTA Industry Loss Index (CLIX), revealing that aggregate losses in the first ha...
Posted: Jul 02, 2024
Westfield, a US-based property and casualty company, has announced a new program designed to help prevent home electrical fires. The new solution, Ting, uses advanced smart plug-in sensors to monitor the electrical network of a home to help detect...
Posted: Jul 02, 2024
Coverys Limited, part of the company’s dedicated London platforms which include both insurance company and MGA operations, (collectively Coverys London), has launched as a company market underwriting platform following approval from the Prud...
Posted: Jul 02, 2024
Specialist reinsurance broker, CG Re (Africa) Ltd has announced the opening of its London office, part of the company’s expansion strategy to become an international and global reinsurance broker. The new office, which will open from 10 July 2024,...
Posted: Jul 02, 2024
Global insurance and reinsurance broker Aon has announced the appointment of Lisa Stevens to the newly established role of Chief Administrative Officer. In her new role, Stevens will continue to oversee the firm’s People Organisation, with expande...
Posted: Jul 02, 2024
Insurtech wefox Holding AG, at its General Meeting, saw investors reaffirm their support for the company by providing an immediate fresh capital injection of €25 million. This capital will support the ongoing restructuring efforts for which the co...
Posted: Jul 02, 2024
Reinsurance Group of America, Incorporated (RGA) has reached an agreement with Tongyang Life Insurance Company for an RGA subsidiary to reinsure a 200 billion Korean Won (KRW) (USD 144m) in-force block of life policies through coinsurance, marking...
Posted: Jul 02, 2024
Insurtech firm Lemonade has successfully renewed its reinsurance program, led by the same tier-one carriers as the expiring treaty, the 2024 placement was oversubscribed on all dimensions as the company secured improved terms. At the program’s cor...
Posted: Jul 02, 2024