Reinsurance News
Marsh, an insurance broker, risk advisor, and business of Marsh McLennan, has launched ReadyCell, a risk financing solution that “enables organisations of all sizes to quickly open their own insurance company and take greater control of thei...
Posted: Jan 08, 2024
Swiss Re Corporate Solutions, the commercial insurance arm of reinsurance giant Swiss Re, has appointed Michael Rüsch to the newly created role as Head DACH, and named Bijan Daftari as Head EMEA Strategy & Execution. Both appointments are effe...
Posted: Jan 08, 2024
Great-West Lifeco, an international financial services holding company has completed the sale of Putnam Investments to Franklin Resources, Inc., operating as Franklin Templeton, an independent and diversified asset manager. According to the announ...
Posted: Jan 08, 2024
Re/insurance broker Arthur J. Gallagher & Co. has announced the successful acquisition of Köberich Financial Lines (Köberich), based in Cologne, Germany. The terms of the transaction were not disclosed. Köberich specialises in financial lines...
Posted: Jan 08, 2024
Fidelis MGU, the Bermuda-based Managing General Underwriter, has promoted Simon Crone to Group Director of Underwriting, a role he will take up alongside his existing position as EEA Chief Underwriting Officer (CUO). An experienced veteran across...
Posted: Jan 08, 2024
Specialty re/insurer Aspen Insurance Holdings Limited, has teamed with Surefire Cyber, a US-based firm, to launch Aspen Cyber Risk Services (ACRS), a complimentary suite of services that will enable its primary cyber insureds to proactively tackle...
Posted: Jan 08, 2024
Onnen Siems, Managing Director of actuarial consultancy firm Meyerthole Siems Kohlruss (MSK), has noted that insured losses from the flooding in various regions in Germany will be less than €1 billion “if the flood dykes hold”. Siems o...
Posted: Jan 08, 2024
The world’s oldest insurance and reinsurance marketplace, Lloyd’s, has confirmed the issuance of the first 144A catastrophe bond transaction via London Bridge 2 PCC Limited, the Beazley sponsored $100 million transaction. The deal, whi...
Posted: Jan 08, 2024
QBE Re has bolstered it’s Bermuda team with the appointment of Carmen DeSilva as Vice President, Specialty Underwriter, effective immediately. Overall, she brings more than 15 years of industry expertise towards her new role. Throughout her...
Posted: Jan 08, 2024
Everest Reinsurance has appointed Mark Wallace as Head of the UK Branch and Chief Underwriting Officer, subject to regulatory approval. In the new role, Everest explained that Wallace will be responsible for managing and directing the strategy and...
Posted: Jan 08, 2024
Kinsale Capital Group, Inc. is set to undergo significant changes in its leadership structure, effective March 1, 2024. Michael P. Kehoe, the current Chief Executive Officer, will take on the additional role of Chairman of the Board. Concurrently,...
Posted: Jan 08, 2024
Following a reinsurance capital recovery in 2023, AM Best has observed that total reinsurance capital will return to $561 billion in 2024, which is less than 2% below the prior high watermark of $570 billion set in 2021. “The year 2023 prove...
Posted: Jan 08, 2024
Misui Bussan Pana Harrison, the Singapore based re/insurance broker that is 51% owned by the Mitsui & Co of Japan, has appointed Inyeong Yi as Head of Treaty Reinsurance and Strategic Growth. He joined the company in December, after more than...
Posted: Jan 08, 2024
Global credit ratings agency AM Best, has highlighted how despite the ongoing pressures from catastrophe-related and secondary peril losses, insurance firms within the US property & casualty (P&C) industry have been ablet to bolster their...
Posted: Jan 08, 2024
US-domiciled cyber insurer Cowbell has extended its cyber insurance capabilities by now catering to mid-market businesses in the UK with an annual turnover of up to £1 billion. Previously, the insurer only catered to small and medium-sized enterpr...
Posted: Jan 08, 2024
McGriff, a prominent retail insurance broker in the United States, has announced the promotion of industry veteran Mike Breedlove to the position of National Sales and Growth Leader. In his new role, Breedlove will be instrumental in shaping the o...
Posted: Jan 08, 2024
The Insurance Managers Association of Cayman (IMAC), the body representing the international insurance industry in the Cayman Islands, at its Annual General Meeting in early December, confirmed the appointments of new board positions for 2024. The...
Posted: Jan 08, 2024
Catastrophe risk modeller CoreLogic’s modelled insured loss estimate for the devastating, shallow magnitude 7.5 earthquake, which hit western Japan on New Year’s Day, includes damage from ground shaking, fires following, tsunamis, and...
Posted: Jan 05, 2024
In a year marked by unexpected challenges, the space insurance market faced a significant shift in the second half of 2023, reporting claims totaling USD 826 million, according to Gallagher Specialty’s Plane Talking – Q4 2023. Notably,...
Posted: Jan 05, 2024
According to Karen Clark & Company (KCC), the total insured losses from the magnitude 7.5 earthquake which struck off the west coast of the island of Honshu in Japan will reach $6.4 billion, with residential losses accounting for over two-thir...
Posted: Jan 05, 2024
As parts of the UK continue to be impacted by severe flooding, Ian Bartholomew, Chief Underwriting Officer at flood insurance company FloodFlash, has confirmed that the company is working hard to ensure that most, if not all of its claims will be...
Posted: Jan 05, 2024
ShoreOne Insurance Managers has appointed Russell (Russ) Carlson as Chief Financial Officer (CFO), joining the executive leadership team, where he will report to the company’s Chairman & Chief Executive Officer, Nick Steffey. Based in Ma...
Posted: Jan 05, 2024
Florida’s Insurance Commissioner, Michael Yaworsky, has highlighted significant achievements in 2023 aimed at fostering a stable and competitive insurance market for the state’s policyholders. The accomplishments were made in conjuncti...
Posted: Jan 05, 2024
Pan-American Life Insurance Group (PALIG), a provider of life, accident and health insurance, has completed the acquisition and merger of Encova Life Insurance Company (Encova Life). Encova Life Insurance Company is an affiliate of the Encova Mutu...
Posted: Jan 05, 2024
In a recent report, JP Morgan analyses the European reinsurance market, highlighting its resilience despite record-breaking increases in 2023. As of the January 2024 renewals, the market continues to show firmness, maintaining positive momentum fr...
Posted: Jan 05, 2024