Reinsurance News
The Government of the Republic of Zimbabwe has received an insurance payout of US$16. 8 million following its participation in the African Risk Capacity (ARC) Group disaster financing mechanism. For those who are not aware, the mechanism is design...
Posted: Jul 05, 2024
So far in 2024, the insurance-linked securities (ILS) market has seen significant growth, with the volume of alternative capital in the global reinsurance industry increasing to a record high of $110 billion through the second quarter, as reported...
Posted: Jul 05, 2024
According to Todd Kozikowski, Co-founder, CEO, 4WARN, nearly all insurers and lines of insurance are now being targeted by tech-enabled claim instigation, a phenomenon once considered confined to Florida. In March 2022, Demotech’s research, undert...
Posted: Jul 05, 2024
With Labour winning the UK election, a report from Deutsche Bank has observed that the new government will have minimal real impacts on earnings & capital for the country’s re/insurers. “Our view about Labour’s manifesto poli...
Posted: Jul 05, 2024
Australian insurer Suncorp has successfully placed its 2025 fiscal year catastrophe reinsurance program, maintaining its maximum event retention of $350 million for a first large event and lifting the top of its tower to $6.75 billion. For 2024, S...
Posted: Jul 05, 2024
SEADRIF Insurance Company has appointed Su Hoong Chang as Board Director, effective June 20, 2024. Based in Singapore, Chang has over three decades of experience across the sector, bringing a deep degree of expertise and insights from her previous...
Posted: Jul 05, 2024
Insurance industry supports EU taxonomy law but believes changes are needed to fulfil its green potential, at the same time, it has raised concerns regarding the current reporting demands for underwriting and investment. Insurance Europe and the E...
Posted: Jul 05, 2024
Managing general agent (MGA) Specialty MGA UK has expanded its international property, financial lines and cyber teams with the appointment of Luke Bristow, Tony Loizides and Lisa Rowe as Senior Underwriters. Manoj Kumar, Chairman, MNK Group, comm...
Posted: Jul 05, 2024
Charlotte Hedemark, President of The Federation of European Risk Management Associations (FERMA), outlined plans to advance its strategic priorities: expanding its advocacy capacity, establishing leadership and emphasising value, and becoming a mo...
Posted: Jul 05, 2024
DWF, a provider of combined legal and business services, has enhanced its global Claims Management & Adjusting (CMA) division by appointing Darren Goldman as Head of North America and Antonio Herrera Sancho as Claims Director in Spain. Goldman...
Posted: Jul 05, 2024
While most property reinsurance placements were completed either early or on time, renewals in the Middle East were challenging and late, says reinsurance broker Gallagher Re. According to Gallagher Re’s recent mid-year renewals report, this...
Posted: Jul 04, 2024
Joshua Motta, Founder and CEO of Coalition, advocates for the necessity of active cyber insurance due to the shortcomings of traditional approaches, highlighted by erratic rate fluctuations and the inadequate readiness of organisations facing esca...
Posted: Jul 04, 2024
Insurance Commissioner Ricardo Lara has released a comprehensive report revealing $7.7 billion in losses from extreme heat events in California, highlighting the urgent need for adaptive strategies to address this growing threat. Commissioner Lara...
Posted: Jul 04, 2024
Utmost Group plc has agreed to acquire Lombard International Assurance Holdings Sarl, subject to regulatory approvals. The acquisition, expected to be completed by the end of 2024, encompasses Lombard’s European business, as Lombard International...
Posted: Jul 04, 2024
The current “Goldilocks environment”, a macro environment of moderate growth, moderate inflation and moderate interest rates according to Berenberg, will allow insurers in the European Union (EU) to deliver on their strategic plan targets. Berenbe...
Posted: Jul 04, 2024
Specialist Risk Group (SRG), the insurance intermediary, has announced its acquisition of Tristar Special Risks, the political violence specialist. For those who are not aware, Tristar Special Risks has a deep degree of expertise in terrorism insu...
Posted: Jul 04, 2024
According to a report from Swiss Re, a global reinsurance company, climate change is expected to alter global wind patterns, posing significant challenges for wind energy producers and insurers alike. Shilpa Gahlot, Insurance Research Specialist,...
Posted: Jul 04, 2024
Lloyd’s focused investment vehicle Helios Underwriting has appointed John Chambers, former AEGIS executive, to its Board as an Independent Non-Executive Director. He brings considerable experience across all aspects of running a regulated insurer,...
Posted: Jul 04, 2024
Brokerslink, a network of independent brokers, has introduced a specialised Trade Credit Insurance (TCI) practice to meet the rising demand from its international affiliates. This new TCI practice will give Brokerslink’s Partners and Affiliates ac...
Posted: Jul 04, 2024
Schroders Capital, the private markets business of Schroders Group, has collaborated with global reinsurer Hannover Re on a pilot tokenisation project, designed to enhance the way insurance-linked securities (ILS) investments are invested and mana...
Posted: Jul 04, 2024
With the composite rate for US P&C insurance increasing slightly from 3.9% in Q1 to 4.36% in Q2, Richard Kerr, CEO of Novatae Risk Group, noted that “there was no significant movement in rates for any coverage or industry group” gi...
Posted: Jul 04, 2024
Howden Re, the reinsurance broking arm of Howden Group Holdings, has announced the appointment of Shireen Gammoh as Managing Director (MD) of the Legacy and Structured Reinsurance team. Gammoh will join Howden Re on July 17th and will be based in...
Posted: Jul 04, 2024
CNA Hardy, a provider of specialist insurance solutions for commercial businesses, has announced the appointment of Clive Magnus as Active Underwriter for the firm’s Lloyd’s Syndicate 382. Magnus will succeed Carl Day, who has resigned after servi...
Posted: Jul 04, 2024
Specialist insurer, Beazley, has appointed industry veteran Michèle Horner as Country Manager for France and Monaco, where she will be based in Paris, effective immediately. In the role, Horner will be expected to focus on developing Beazley’...
Posted: Jul 04, 2024
CCRIF SPC reportedly made a payout on July 1st of $6,376,184 to the Government of Guatemala following heavy rains from June 13th to 19th. According to CCRIF, this payout represents the Government of Guatemala’s full payout under its excess rainfal...
Posted: Jul 04, 2024