Reinsurance News
Zurich-based catastrophe insurance data provider PERILS AG, has provided a third update on the insured loss estimate for the Australia Christmas storms which impacted the states of Victoria, New South Wales, and Queensland during the period of 23...
Posted: Jul 01, 2024
Howden, the insurance intermediary group, has released its fourth annual cyber report, “Risk, Resilience and Relevance,” noting market stabilisation last year due to improved cyber hygiene following a surge in ransomware claims in 2020...
Posted: Jul 01, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has appointed Kai Kuklinski as Regional Manager, Northern Europe and Country Manager for Germany (Branch Manager of XL Insurance Company SE’s German b...
Posted: Jul 01, 2024
Zurich Insurance Group and Aon have launched a clean energy insurance facility, providing comprehensive coverage globally for blue and green hydrogen projects with capital expenditures of up to USD 250 million. With Zurich as the lead insurer and...
Posted: Jul 01, 2024
Africa Specialty Risks (ASR), the pan-African and Middle East focused reinsurance group, is opening an office in Dubai, its first in the Middle East, to be located within the Dubai International Financial Centre (DIFC). ‘ASR Middle East’, will be...
Posted: Jul 01, 2024
The mid-year reinsurance renewals reflected a transitioning marketplace which responded to increased demand for protection, as numerous headwinds continued to shift risk appetites, according to Guy Carpenter, the reinsurance broking arm of Marsh M...
Posted: Jul 01, 2024
As per a new report from Gallagher Re, buyers of property catastrophe reinsurance have been able to negotiate better terms and conditions on their contracts in 2024 due to the “risk on” approach taken by reinsurers. The reinsurance bro...
Posted: Jul 01, 2024
Sophos, a provider of cybersecurity solutions, released findings from its recent survey, showing that 76% of companies enhanced their cyber defences to qualify for cyber insurance. The report found that 97% of companies with a cyber insurance poli...
Posted: Jul 01, 2024
InsurX, a digital exchange with algorithmic capacity, has announced the appointment of four new hires to its team to meet burgeoning demand from brokers and underwriters for algorithmic underwriting. Appointed Divisional Director, David Dickson br...
Posted: Jul 01, 2024
Specialist managing general underwriter, New Energy Risk (NER), a wholly owned division of Paragon Insurance Group, and insurer Westfield Syndicate are launching a new Lloyd’s lineslip focused on providing technology performance insurance and othe...
Posted: Jul 01, 2024
CRC Group, the North American wholesale specialty insurance distributor, has bolstered its team with a series of key hires. Firstly, the company has announced that Sarah McKenna has joined CRC Group’s San Francisco, CA office as a property broker....
Posted: Jul 01, 2024
Professional services firm Accenture has recently announced the appointment of Carmina Lees as the local lead for its insurance practice in the UK and Ireland. Lees brings 25 years of industry experience to her new role. She has gained cross-indus...
Posted: Jul 01, 2024
S&P Global Ratings has revised its outlook to positive from stable for Lancashire Holdings Ltd. and its operating subsidiaries (LRE), as the firm has strengthened its competitive position over the past few years through a diversification strat...
Posted: Jun 28, 2024
Yann Le Pallec has been appointed President of S&P Global Ratings, the rating agency arm of S&P Global, succeeding Martina L. Cheung, effective November 1, 2024. In his new role, Le Pallec will have ultimate responsibility for all aspects...
Posted: Jun 28, 2024
Mortgage insurer Enact Holdings, Inc. secured the $90 million of additional excess of loss (XoL) reinsurance protection as part of its credit risk transfer (CRT) programme. This CRT transaction covers a portion of existing mortgage insurance polic...
Posted: Jun 28, 2024
Lockton, an independent insurance broker, has launched a new global space practice led by Ian George, Head of Space, and joined by Russell Sawyer and Mark Williamson as Account Executive and Consultant, respectively. According to the announcement,...
Posted: Jun 28, 2024
P&C program manager Accredited has announced the successful completion of its acquisition by Onex Partners, and has also revealed the completion of a legacy reinsurance transaction with insurance group Enstar in connection with the acquisition...
Posted: Jun 28, 2024
S&P Global Ratings has upgraded Swiss reinsurer Echo Rueckversicherungs AG (Echo Re) long-term issuer credit and financial strength rating from ‘A-’ to ‘A’ with a stable outlook. The upgrade reflects Echo Re’s continued track record of s...
Posted: Jun 28, 2024
BF&M Limited, the holding company of the BF&M group of companies, and Argus Group Holdings Limited has announced they plan to combine and create a new combined Bermuda-headquartered multi-line insurer. Both Bermudian companies have signed...
Posted: Jun 28, 2024
DWF, a provider of integrated legal and business services, has announced its acquisition agreement with Proclaim, a claims management business in Australia, aiming to enhance its presence in the country. Group CEO, Sir Nigel Knowles, commented: &#...
Posted: Jun 28, 2024
After the severe flooding in central Europe between late May and early June, it is crucial for insurers and reinsurers to understand and manage this complex risk, which can be achieved using the latest generation of high-definition (HD) catastroph...
Posted: Jun 28, 2024
Hampden Group, a provider of specialist insurance, investment and financial support services, has appointed Lord Strathclyde as the Chair of the group’s ultimate holding company, Hampden Holdings. Strathclyde succeeds Hampden founder, Tim Oliver,...
Posted: Jun 28, 2024
Assured Guaranty Municipal Corp, (AGM) a subsidiary of Bermudian-based Assured Guaranty Ltd., has for the second time, insured $800 million of senior Special Facilities Revenue Bonds issued by the New York Transportation Development Corporation on...
Posted: Jun 28, 2024
Property and casualty (P&C) insurer Chubb has announced the appointment of Mikko Ronikonmäki as Commercial Lines Manager for Finland, effective August 12, 2024. Based in Helsinki and Ronikonmäki will be responsible for Chubb’s commercial lines...
Posted: Jun 28, 2024
Beyond Risk Topco Holdings, a provider of alternative risk financing solutions, has announced a strategic partnership with Eirion Risk Underwriters, a Managing General Agent (MGA) in specialty insurance placement. Eirion Risk was founded by indust...
Posted: Jun 28, 2024