Reinsurance News
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
Labuan International Business and Financial Centre (Labuan IBFC), an Asian financial hub known for its insurance, reinsurance, Islamic finance, and digital business solutions, achieved significant growth in 2023, with continued expansion expected...
Posted: Jul 02, 2024
Cytora, a digital risk processing platform, brings fast, reliable, and secure address capture capabilities with the integration of Autoaddress’ Address Capture into its underwriting productivity tool. Autoaddress delivers accurate address an...
Posted: Jul 02, 2024
Insurer Allianz Trade and credit and political risk insurance broker, BPL, have launched a collaboration to transform the way underwriters and brokers share enquiry data using Application Programming Interface (API) integration through the indepen...
Posted: Jul 02, 2024
Howden, a global insurance intermediary group, has appointed four new hires to its aviation division, including former Gallagher Partner Matthew Giddings, and hull war expert Mike Hart. As part of the Howden Aviation team, Hart is going to leverag...
Posted: Jul 02, 2024
Fitch Ratings, a financial analysis and credit rating agency, reports that the political uncertainty in France, stemming from President Emmanuel Macron’s call for an early parliamentary election, has not impacted the ratings of French insure...
Posted: Jul 02, 2024
Research provider MSCI and global ratings agency, Moody’s Corporation, have entered a strategic partnership aimed at enhancing transparency in ESG and sustainability and improving decision-making capabilities by leveraging each other’s stren...
Posted: Jul 02, 2024
Marsh McLennan, a global re/insurance broker, has appointed Sarah Triggs to the newly created role of Marsh McLennan UK Healthcare Industry Leader. Based in London, Triggs is expected to join the business in Q3 2024 and will have a reporting line...
Posted: Jul 02, 2024
One80 Intermediaries (One80), an insurance broker based in Boston, announced the launch of GeneBridge, an innovative product designed to reduce the financial burden of high-cost gene therapy claims. Matthew Power, President, One80, commented: “Wit...
Posted: Jul 01, 2024
Analysis by insurance and reinsurance broking group Aon finds that global reinsurer capital increased by 4% during the first quarter of 2024 to a new high of $695 billion, with growth in both traditional and alternative capital. From the end of 20...
Posted: Jul 01, 2024
Miller, an independent specialist (re)insurance broker, has announced Kazuhiko Shinkai’s appointment as Head of Miller Non-Marine Japan Strategy, enhancing their Japanese operations through Lead Insurance Services Limited. Starting on July 1...
Posted: Jul 01, 2024
Hong Kong’s risk-based capital (RBC) regime for the insurance industry has officially come into operation as of July 1, 2024. This follows the enactment of the Insurance (Amendment) Ordinance 2023, along with related subsidiary legislation and new...
Posted: Jul 01, 2024
The Fidelis Partnership and Fidelis Insurance Group have confirmed that Syndicate 3123 (The Fidelis Partnership Syndicate) has formally begun underwriting business at Lloyd’s. The Fidelis Partnership Syndicate was first announced in March of this...
Posted: Jul 01, 2024
Ryan Specialty Holdings, Inc., an international specialty insurer, has announced that its Board of Directors has unanimously approved a leadership succession plan to be implemented on October 1st, 2024. Under this plan, Patrick G. Ryan, the Founde...
Posted: Jul 01, 2024
J.C. Flowers & Co. LLC recently announced the successful sale of Vericity to iA American Holdings, a subsidiary of iA Financial Corporation. In October 2023, Vericity entered into a definitive merger agreement with iA American Holdings for an...
Posted: Jul 01, 2024
As per Gallagher Re’s latest mid-year renewals report, market softening in Florida levelled off and firmed as capacity became less abundant closer to June 1, ultimately leaving risk-adjusted rates on most programs either flat or down by as m...
Posted: Jul 01, 2024
Pacific Catastrophe Risk Insurance Company (PCRIC) has announced the appointment of Richard Poulter as the company’s new Chief Risk Officer, effective July 1, 2024. In his new role, Poulter will be responsible for ensuring executive manageme...
Posted: Jul 01, 2024
Pacific Catastrophe Risk Insurance Company (PCRIC) has announced the appointment of Richard Poulter as the company’s new Chief Risk Officer, effective July 1, 2024. In his new role, Poulter will be responsible for ensuring executive manageme...
Posted: Jul 01, 2024
Cyber risk solution company Resilience has doubled the cyber insurance limits it can offer to clients in the US to $20 million per client. The agreement to expand Resilience’s limit capability was reportedly brokered by Lockton Re and utilis...
Posted: Jul 01, 2024
Argenta Holdings Ltd, a subsidiary of Hannover Re, has recently announced the immediate closure of the Sydney office of its Service Company, Argenta Underwriting Asia Pte Ltd, which operates on the Lloyd’s Australia platform. Following a review of...
Posted: Jul 01, 2024
The reinsurance market was fairly stable heading into the July 1st, 2024, renewals, and is now more balanced than it was a year ago, although reinsurers are holding the line on retentions, according to James Vickers, Chairman, Gallagher Re Interna...
Posted: Jul 01, 2024