Reinsurance News
Aegis Financial Lines (AFL), a division of Aegis General Insurance Agency, in partnership with its sister company, K2 Financial, has achieved approval of their official coverholder status with Lloyd’s, the global insurance and reinsurance marketpl...
Posted: Jan 09, 2024
The reinsurance division of Everest Group, Everest Reinsurance, has established a dedicated Global Specialties business, bringing the division’s expertise and offerings across Aviation, Marine, Cyber, Engineering, and Parametric Solutions un...
Posted: Jan 09, 2024
Intact Insurance Specialty Solutions, the U.S. insurance subsidiary of Intact Financial Corporation, has launched a fresh identity for its Excess and Surplus (E&S) builders risk segment – Striior Insurance Solutions. Formerly known as Highland...
Posted: Jan 09, 2024
WTW, the global advisory, broking, and solutions company, has appointed Despina Buganski as the Head of Personal Lines for Corporate Risk & Broking, North America (CRB NA). Buganski, who previously held the position of Chief Operating Officer...
Posted: Jan 09, 2024
Bermuda-based reinsurer PartnerRe has announced that Philippe Meyenhofer will become its new Chief Executive Officer (CEO) when Jacques Bonneau retires from the company later this year, with Jon Colello set to assume the additional role of Preside...
Posted: Jan 09, 2024
As a new entrant in the UK market, Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs), recognises that there is an “underserved market in the UK”, with the company having identified a way to serve this...
Posted: Jan 09, 2024
Lockton, the independent insurance broker, has bolstered it’s Transaction Liability team by hiring Drew Hermiller and Eileen Kuo as Senior Vice Presidents within the division, with a focus on tax insurance. They both join the broker, followi...
Posted: Jan 09, 2024
Specialty and P&C re/insurer Canopius Group has appointed Uwe Schoberth as Head of Distribution, U.S. and Bermuda, and Matthew Crane as Head of UK Distribution. The appointments are effective immediately, with Schoberth set to join the Canopiu...
Posted: Jan 09, 2024
Connecticut-based private equity firm Stone Point Capital has invested in ClearPoint Health to “enable more affordable health insurance benefits for small and mid-sized employers.” ClearPoint is a medical stop-loss captive platform for...
Posted: Jan 09, 2024
Liberty Mutual Insurance Global Risk Solutions has bolstered it’s Cyber insurance team by appointing Elisabeth Case as Global Product Manager, Cyber. She joins the firm following a 16 year tenure at Marsh, where she most recently served as a...
Posted: Jan 09, 2024
RSA Insurance’s UK Specialty Lines business and Brit Ltd have joined forces to unveil ‘BUILD,’ a Project Cargo consortium that stands as one of the largest in the global cargo market. Open for business, this consortium offers a g...
Posted: Jan 09, 2024
CFC, the global specialist insurance provider, has appointed AXIS Insurance’s Dan Trueman as Chief Underwriting Officer (CUO). At the same time, CFC has also confirmed, that current CUO Andy Holmes will be assuming the role of Chief Executiv...
Posted: Jan 09, 2024
Gallagher Re has announced the appointment of Steve Robson as its new Chief Claims Officer. Robson, who previously held the position of Global Head of Claims at Gallagher Re, brings a wealth of experience to his new role. In his former capacity, h...
Posted: Jan 09, 2024
Global professional services firm Aon has appointed Jane Kielty as UK Chief Executive Officer. Kielty first joined Aon in 2005, becoming the firm’s Chief Commercial Officer in 2021, and later progressing to be head of Commercial Risk UK. Aon...
Posted: Jan 09, 2024
According to a new report from Munich Re, thunderstorms in North America and Europe in 2023 were “more destructive than ever before”, driving overall losses of $76 billion, and insured losses of $58 billion. The reinsurer observed that...
Posted: Jan 09, 2024
Reinsurance broker Guy Carpenter has reported that at the January 1st, 2024, reinsurance renewal, its Global Property Catastrophe Rate on Line Index (ROL) increased by 5.4% when compared with the prior year. Although this 5.4% increase is a steep...
Posted: Jan 09, 2024
In a tumultuous year marked by an extraordinary surge in catastrophic events, Canada grappled with insured losses totaling a staggering CAN $3.1 billion in 2023, as reported by CatIQ. While 2023 ranks among the largest loss years for Canada, disti...
Posted: Jan 09, 2024
According to Verisk’s “Extreme Event Solutions” business unit, insured losses from the earthquake that struck near the Noto peninsula in Ishikawa prefecture, Japan, will be between approximately US $1.8 billion and $3.3 billion (JPY 260-480 billio...
Posted: Jan 09, 2024
Aventum Group’s international insurance and reinsurance MGA, Rokstone, has entered into a strategic alliance with Allianz Commercial, which has committed a $25 million facility to Rokstone. This collaboration is aimed at enhancing Rokstone’s North...
Posted: Jan 09, 2024
Insurance brokerage, World Insurance Associates, has successfully acquired insurance provider TW Group, Inc. (TWG). The acquisition was finalised on December 31, 2023, and the terms of the transaction remain undisclosed. Established in 1946, TW Gr...
Posted: Jan 09, 2024
According to recent analysis from MarketScout, the composite rate increase for personal lines insurance across the United States was plus 4.75% for Q4 2023. The analysis states that insurers made it through 2023 better than expected, with a compos...
Posted: Jan 09, 2024
Janover Inc., an AI-enabled platform for commercial real estate transactions, has launched a new insurtech as a wholly owned subsidiary – Janover Insurance Group. According to the announcement, this new venture is set to seamlessly integrate...
Posted: Jan 09, 2024
UnitedHealth Group Incorporated has maintained the pole position for the ninth straight year in AM Best’s ranking of the world’s 25 largest insurance companies, growing net premiums written (NPW) by 14% in 2022 to $257.2 billion. Of the insu...
Posted: Jan 08, 2024
Carrick Group Limited, the Bermuda-based international non-life legacy insurance business providing reinsurance and run-off solutions, has announced that it has been acquired by Northlight QIAIF plc – an Irish regulated company managed by Lo...
Posted: Jan 08, 2024
According to recent analysis from MarketScout, in 2023, the transportation industry was assessed as the sector with the largest rate increase at plus 7.26%, as the total rate increase across all industry groups hit 4.56% in the year. By coverage c...
Posted: Jan 08, 2024