Reinsurance News
Resolution Life’s Bermudian reinsurance platform, Resolution Re, has executed a new reinsurance transaction in which it reinsured the market and longevity risks of around 90,000 policyholders – c.£2 billion ($2.5bn) of individual in-payment...
Posted: Jan 15, 2024
Coalition has announced the appointment of Mark Bird as the head of Coalition Incident Response UK Ltd. (CIR), the company’s affiliate incident response and cyber forensics organisation. Bird, a former Acting Sergeant in the police cybercrim...
Posted: Jan 15, 2024
The Swiss Re Institute has released an analysis on the ongoing downturn in China’s property market, asserting that the risk of a global financial contagion is contained. Despite persistent concerns surrounding the potential spillover effects...
Posted: Jan 15, 2024
Specialised asset management firm, Obra Capital, Inc., has completed the acquisition of Unified Life Insurance Company, a life and health insurance carrier with approximately 100,000 active policyholders and 49 associated licenses. Incorporating U...
Posted: Jan 15, 2024
AM Best, has maintained its stable outlook for Panama’s insurance industry, highlighting the sector’s consistent profitability in underwriting results and positive future prospects. Despite facing challenges from the macroeconomic envi...
Posted: Jan 15, 2024
In a strategic collaboration with DataPro, Whitespace, the fully digital e-trading platform and a Verisk company, has introduced “Whitespace for Desktop,” a new tool designed to enhance user interaction with the Whitespace platform thr...
Posted: Jan 15, 2024
Falvey Insurance Group, a specialty MGA, has appointed Brad Eldridge, formerly the Senior Vice President of Business Development, as its new Chief Relationship Officer. This appointment follows the retirement of Daryl Mackay, the former Chief Rela...
Posted: Jan 15, 2024
In a letter to Chief Executive Officers (CEOs), the Bank of England (BoE) has said that it continues to “pay close attention to the role of funded reinsurance in the UK life market,” amid continued growth in the country’s life in...
Posted: Jan 12, 2024
Dyad, a insurance software and services provider, announced the appointment of Jeff Wargin as Chief Product Officer (CPO). The announcement comes at a pivotal moment for Dyad, which recently unveiled its new brand on January 2, following a success...
Posted: Jan 12, 2024
Previsico, the live flood forecasting insurtech, has appointed Craig Deacon as its Chief Financial Officer (CFO). Most recently, Deacon served as the Vice President, Finance for Disguise Technologies. In his new role, Deacon takes on responsibilit...
Posted: Jan 12, 2024
Intact Financial Corporation, the Canadian property and casualty (P&C) insurer, has estimated total losses from catastrophe events in the fourth quarter of 2023 of approximately CAD $200 million, on a pre-tax basis and net of reinsurance, for...
Posted: Jan 12, 2024
Global re/insurer SCOR has signed a 15-year lease for around 50,000 sq. ft office space with Mitsubishi Estate London and Stanhope. SCOR will take up over two and a half floors at one of London’s most sought-after office buildings, 8 Bishopsgate....
Posted: Jan 12, 2024
In the past year, Chaucer, global specialty re/insurance firm, has observed a staggering 43 sovereign debt downgrades worldwide. The combination of soaring inflation and escalating global interest rates has sparked concerns about the ability of nu...
Posted: Jan 12, 2024
Insurer and reinsurer AXIS Capital Holdings Limited has announced the promotion of Conrad Brooks to Chief Administrative and Legal Officer, with Christina Gray-Trefry taking over as General Counsel. In Brooks’ expanded role, he assumes oversight o...
Posted: Jan 12, 2024
Florida’s Chief Financial Officer (CFO), Jimmy Patronis, has lauded the recent developments in the state’s insurance market, particularly with the approval of the acquisition of Trusted Resource Underwriters Exchange (TRUE). The move i...
Posted: Jan 12, 2024
In the ever-evolving landscape of European non-life insurance, Fitch Ratings predicts that the United Kingdom and Italy are poised to reap the greatest benefits from the anticipated surge in premium rates throughout 2024. The non-life insurance se...
Posted: Jan 12, 2024
US-domiciled cyber insurer, Cowbell, has promoted Caroline Thompson, formerly Senior Vice President, Underwriting, to Chief Underwriting Officer (CUO), and also named Sonja Kozel as the new Senior Vice President, Sales and Distribution. Thompson j...
Posted: Jan 12, 2024
The cyber insurance market witnessed a major shift between 2022 and 2023, with a combination of positive trends and facts ultimately creating a soft cyber insurance market, which included higher pricing after a two-year hard market, reduced claim...
Posted: Jan 12, 2024
BMS Re, the specialty reinsurance arm of global broker BMS Group, has appointed Daryl Polenz as Executive Vice President (EVP) of Origination, where he will work closely with Russ McGuire, Head of Origination. Polenz will also have a key focus on...
Posted: Jan 12, 2024
JP Morgan’s Love Actuary note on the fourth quarter of 2023 reveals a relatively optimistic outlook for the reinsurance industry, supported by a slightly below-average level of natural catastrophe losses during the period. The financial gian...
Posted: Jan 12, 2024
Bridgehaven Insurance, the pioneering hybrid fronting insurer in the UK, has strategically partnered with Alchemy Underwriting, a newly established Managing General Agent (MGA) founded in late 2022. The two entities are thrilled to announce a stra...
Posted: Jan 12, 2024
AXA XL Canada has bolstered its Fine Art and Specie team, with the appointments of Caitlin McCullough and Sarah Mitchell, who take on the roles of Senior Underwriter and Underwriter, Fine Art & Specie, Canada. They are both based in Toronto. M...
Posted: Jan 12, 2024
Catastrophe risk modeller Moody’s RMS estimates that the total insurance industry loss from the magnitude 7.5 earthquake that struck Japan on New Year’s Day will likely fall between $3 billion and $6 billion. This estimate from Moody&#...
Posted: Jan 12, 2024
In a recent report, Morgan Stanley has shed light on the growing concerns surrounding social inflation, predicting it to be a significant headwind for the insurance industry throughout 2024. Social inflation refers to the trend of insurers’...
Posted: Jan 12, 2024
Reinsurance broker Gallagher Re has promoted Etienne Busson to the role of Head of Life & Health, EMEA, from his previous position as Deputy Head of the business. Busson has been with Gallagher Re since December 2018 when he joined from reinsu...
Posted: Jan 12, 2024