Reinsurance News
Tokio Marine HCC – Specialty Group, part of the Tokio Marine HCC group of companies, has announced the retirement of Bert Van Wagenen, effective July 1, 2024. Van Wagenen, a renowned figure across the industry, has dedicated forty-four years...
Posted: Jul 10, 2024
Novatae Risk Group, a wholesale insurance brokerage, managing general agency, and program manager, has announced its acquisition of Denali Specialty Group’s assets. Founded in 2019, Denali Specialty Group is a full-service insurance intermed...
Posted: Jul 10, 2024
Property and casualty insurer, The Hartford has announced the appointment of Michael Fish, the current chief operating officer for Group Benefits, as the new head of Group Benefits. He will succeed Jonathan Bennett, who will retire at the end of 2...
Posted: Jul 10, 2024
SageSure, Anchor Re, and SureChoice Underwriters Reciprocal Exchange (SURE) have announced the closing of the Gateway Re 2024-4 catastrophe bond at $60 million—20% higher than the original $50 million target. This marks the eighth transaction in t...
Posted: Jul 10, 2024
Assured Guaranty Municipal Corp. (AGM), an Assured Guaranty Ltd. subsidiary that provides financial guarantees for municipal bonds, will merge with Assured Guaranty Inc. (AG), a company that offers financial guarantees and credit enhancement produ...
Posted: Jul 10, 2024
Lloyd’s syndicate AEGIS London has established a new Data Science and Analytics team to enhance underwriting capabilities and data-driven initiatives, Led by Giuseppe D’Angelo, Head of Data Analytics and Portfolio Underwriting. The new...
Posted: Jul 10, 2024
Business Email Compromise (BEC), a form of phishing that involves attackers manipulating individuals into unintentionally facilitating fraudulent activities, an often overlooked cyber threat, is considered to be one of the most financially damagin...
Posted: Jul 10, 2024
James River Group Holdings, a Bermuda-based insurance holding company, has announced the appointment of industry veteran Christine LaSala to its Board of Directors as an independent, non-executive member. With LaSala’s appointment, the Board...
Posted: Jul 10, 2024
Marsh McLennan Agency, a subsidiary of Marsh, has entered into a definitive agreement to acquire The Horton Group, Inc., a full-service insurance brokerage based in Illinois, US. Horton, which was founded in 1971, offers property and casualty insu...
Posted: Jul 10, 2024
BMS Re, the reinsurance division of global broker BMS Group, has announced the appointment of Farah Nelson as Chief Financial Officer (CFO) in the US and as a new member of the company’s Board, based in New York. In her new role, Nelson will direc...
Posted: Jul 10, 2024
Aviva has completed the acquisition of Probitas Holdings (Bermuda) Limited for a consideration of £249 million, marking the firm’s entry into the Lloyd’s market. If you recall, back in March, it was revealed that Aviva would acquire 100% of Probit...
Posted: Jul 10, 2024
Global insurance and reinsurance broker Aon has appointed Marguerita Silitonga as President Director of Reinsurance Solutions in Indonesia, effective immediately, based in Jakarta. Silitonga will have a reporting line to Musa Adlan, Executive Dire...
Posted: Jul 10, 2024
Global reinsurer MAPFRE RE has appointed Alberto Estevez Allegue as Chief Representative Officer of its Representative Office in Tokyo, Japan, effective 1 July 2024. Allegue began his MAPFRE career in 2012 at MAPFRE Asistencia’s MAPFRE Warranty Ja...
Posted: Jul 10, 2024
Global reinsurer MAPFRE RE has appointed Alberto Estevez Allegue as Chief Representative Officer of its Representative Office in Tokyo, Japan, effective 1 July 2024. Estevez began his MAPFRE career in 2012 at MAPFRE Asistencia’s MAPFRE Warranty Ja...
Posted: Jul 10, 2024
Citizens Property Insurance Corporation, Florida’s property insurer of last resort, has confirmed that it bought a lot less reinsurance than the $5.5 billion target announced back in April, securing a “cost-efficient” risk transfer pro...
Posted: Jul 10, 2024
Bermuda-domiciled insurance holding company, James River Group Holdings, has announced that two of its principal subsidiaries have entered into a combined loss portfolio transfer (LPT) and adverse development cover (ADC) reinsurance agreement with...
Posted: Jul 10, 2024
Costero Brokers, a privately held London-based insurance brokerage, has appointed Stephanie Bush to its Board of Directors, emphasising the firm’s commitment to assembling a diverse and seasoned board focused on progress. Bush has deep exper...
Posted: Jul 10, 2024
Verisk, the global data analytics and technology provider, has launched ISO Experience Index, a tool which is designed to modernise how actuaries in the insurance industry analyze risk patterns. According to the announcement, the tool will address...
Posted: Jul 10, 2024
New England Asset Management, Inc. (NEAM), a provider of insurance investment solutions, announced a strategic partnership with Nassau Financial Group (Nassau), a diversified financial services firm. Through this collaboration NEAM will manage Nas...
Posted: Jul 10, 2024
Property and casualty (P&C) insurer Chubb has announced a number of new appointments, including Paul McNamee’s as Executive Vice President, Chubb Group and President of Overseas General Insurance. With nearly three decades of insurance industr...
Posted: Jul 10, 2024
Artificial Intelligence (AI) and climate change have emerged as the top priorities for insurance executives worldwide, according to a survey by the International Insurance Society (IIS). The ILS 2024 Global Priorities Survey aimed to identify the...
Posted: Jul 10, 2024
Despite the possibility of hurricane Beryl being a billion-dollar economic loss for the United States, it is expected to be a very manageable storm for the re/insurance industry, Steve Bowen, Chief Science Officer at Gallagher Re has commented. Bo...
Posted: Jul 09, 2024
Global insurer QBE has announced that Davide Anselmo is joining from CNA Hardy as its new general manager for Italy, based in Milan, subject to regulatory approval. Anselmo takes over from Angela Rebecchi, who will be retiring this summer after le...
Posted: Jul 09, 2024
French reinsurer CCR Re has seen significant growth in its ESG asset portfolio, which has increased by 20% since 2022, reaching over €1 billion out of €3.6 billion in Assets Under Management (AUM). In its 2023 ESG Report, CCR Re attributes this ro...
Posted: Jul 09, 2024
Everest Insurance, the insurance arm of Bermuda-based re/insurer Everest Group, has promoted Harry Townsend to Chief Ceded Reinsurance Officer, leading the Ceded Re strategy for the global division. Townsend joined Everest in January 2024 as Head...
Posted: Jul 09, 2024