Reinsurance News
The Hanover Insurance Group, Inc. has appointed Mina S. Rona as president of technology and life sciences. Rona joined The Hanover eight years ago and has since played “a key role” in the expansion of the firm’s technology and li...
Posted: Jan 05, 2024
IQAX Limited, a global information technology company, has announced that it has entered into a strategic partnership with COSCO Shipping Captive Insurance Co., Ltd., a Chinese shipping insurance firm, to promote the capabilities of IQAX electroni...
Posted: Jan 05, 2024
Private equity-owned insurers have significantly expanded their influence in the life/annuity sector, marking a substantial 15% year-over-year growth in their share of admitted assets in 2022, according to AM Best. This surge in private equity inv...
Posted: Jan 05, 2024
QBE Re has appointed Salvatore Sama as Global Product Head for Casualty, Jane Farren as Global Head of Financial Professional Lines, and Derek Durst as Global Head of Cyber. The three Global Product Heads, expected to take up their new positions t...
Posted: Jan 05, 2024
Rokstone, a speciality re/insurance MGA and part of Aventum Group, has signed a binder agreement with Munich Re Syndicate Limited (MRSL) to “bolster the expansion of its international property risks portfolio.” According to Rokstone, t...
Posted: Jan 05, 2024
The Board of Directors at Lyft Inc., have appointed reinsurance veteran, Jill Beggs to serve as a member of the Board, effective immediately, serving as a Class III director with a term of office expiring at the Company’s 2025 Annual Meeting of St...
Posted: Jan 05, 2024
The Board of Directors at Lyft Inc., have appointed reinsurance veteran, Jill Beggs to serve as a member of the Board, effective immediately, serving as a Class III director with a term of office expiring at the Company’s 2025 Annual Meeting of St...
Posted: Jan 05, 2024
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has hired Andrew Jackson as Global Head of Business Development and Market Management. In the role, he will report to Phil Hobbs, President and Managing Director, LSM, He wil...
Posted: Jan 05, 2024
If losses from the recent earthquake that struck the west coast of Japan on January 1 were to hit individual companies’ earthquake reinsurance excess-of-loss layers, it could fuel rate increases in the upcoming 1 April reinsurance renewal, says AM...
Posted: Jan 05, 2024
FG Financial Group, Inc. (FG Financial) and FG Group Holdings Inc. have officially signed a definitive plan of merger, aiming to merge in an all-stock transaction. The combined entity, to be renamed Fundamental Global Inc., will continue trading o...
Posted: Jan 05, 2024
The U.S. Federal Emergency Management Agency (FEMA) has completed its 2024 traditional reinsurance placement for the National Flood Insurance Program (NFIP), transferring an additional $619.5 million of the NFIP’s financial risk to the private rei...
Posted: Jan 05, 2024
In a recent Market Segment Report, global credit rating agency AM Best has announced its decision to maintain a negative outlook on Argentina’s insurance industry. The primary factors contributing to this outlook include an economic slowdown...
Posted: Jan 05, 2024
It was announced a year ago that Tony Cheng would succeed Anna Manning, who has now left Reinsurance Group of America (RGA) after roughly 17 years of service, as Chief Executive Officer (CEO) of the life and health reinsurer. Cheng joined RGA in 1...
Posted: Jan 05, 2024
Relation Insurance Services, an insurance brokerage firm, has promoted Kevin Rabinowitz, the current Chief Broking Officer to the role of Chief Operating Officer (COO). Rabinowitz joined Relation in January 2022 as the company’s Chief Brokin...
Posted: Jan 05, 2024
KBW Europe’s recent discussion on the January 1 reinsurance renewals, led by William Hawkins and Darius Satkauskas, reveals promising insights into the industry’s outlook for 2024. Hosted with industry experts David Flandro of Howden R...
Posted: Jan 04, 2024
Specialist re/insurance broker McGill and Partners has appointed Karl Hennessy as CEO of McGill Global Risk Solutions LLC, where he will oversee the firm’s US Specialty and Reinsurance operations. Hennessy joined the organisation in October...
Posted: Jan 04, 2024
Marsh, an insurance broker, risk advisor, and business of Marsh McLennan, has appointed Andy Stirk as its US Chief Growth Officer, effective January 16. Stirk, who has two decades of insurance industry experience, rejoins Marsh from Ascot Group, w...
Posted: Jan 04, 2024
The Bermuda Monetary Authority (BMA) has released guidelines outlining its expectations for legacy re/insurers engaged in assuming corporate liabilities, particularly those involving non-insurance corporations with risk characteristics resembling...
Posted: Jan 04, 2024
Antares Global, the multinational group of insurance and related service companies, revealed the appointment of Kevin Wenzel as their new Chief Financial Officer (CFO). Wenzel, with an impressive career spanning over 30 years, is set to bring a we...
Posted: Jan 04, 2024
Donegal Insurance Group, which consists of Donegal Mutual Insurance Company and the insurance subsidiaries of Donegal Group Inc., has appointed Dan DeLamater as Executive Vice President and Chief Operating Officer, effective this month. DeLamater...
Posted: Jan 04, 2024
Insurance industry sources have told Reuters that AIG is the lead insurer on a $130 million “all-risks” policy for the Japan Airlines airbus 350 that was destroyed in a collision with a Japan Coast Guard plane at Tokyo’s Haneda a...
Posted: Jan 04, 2024
HCI-sponsored reciprocal insurer, Condo Owners Reciprocal Exchange (CORE), has secured a Financial Stability Rating of ‘A’, Exceptional, from Demotech. Paresh Patel, HCI’s chairman and CEO, commented, “HCI has had a positive long-term relationship...
Posted: Jan 04, 2024
Aon’s Reinsurance Market Dynamics report reveals that 2023 witnessed an unprecedented surge in the utilisation of alternative capital, marking the sector’s best performance in over two decades. The report underscores the increasing rel...
Posted: Jan 04, 2024
Consilium, the global speciality (re)insurance broking business of the Aventum Group, has launched a North American Property division, recruiting Jack Anderson from Gallagher to lead the team. Anderson is set to join Consilium in February as a Sen...
Posted: Jan 04, 2024
Enact Holdings, Inc., the private mortgage insurer through its insurance subsidiaries, has entered into a quota share reinsurance agreement with a broad panel of highly rated reinsurers. This transaction is done by the company through its flagship...
Posted: Jan 04, 2024