Reinsurance News
Berkshire Hathaway Specialty Insurance (BHSI) has announced two key promotions across it’s North American claims team: Courtney Koch has been promoted to Senior Vice President, Healthcare and Casualty Claims, and Kathryn Ridenour has been pr...
Posted: Jan 04, 2024
P&C insurance holding company Kingstone has announced that its quota share reinsurance program for 2024 has been fully placed. Meryl Golden, Kingstone CEO, stated, “I am delighted to let you know that Kingstone has finalized its quota sh...
Posted: Jan 04, 2024
Howden, the global insurance group, has strengthened its presence in Norway with the acquisition of Arctic Insurance AS, a fast-growing Norwegian insurance broker. The move is part of Howden’s strategy to enhance its footprint in the Nordic...
Posted: Jan 04, 2024
Gallagher has appointed Nepomuk Loesti (Nepo) as Chief Commercial Officer of its European broking operations to support its expansion in the region. Loesti joins Gallagher from AIG, where he spent the last 17 years in a range of roles in Zurich, L...
Posted: Jan 04, 2024
Australian insurer IAG has placed its catastrophe reinsurance program for 2024, purchasing more protection than originally expected with the main cover for two events rising by $500 million to $10.5 billion, with an unchanged attachment point of $...
Posted: Jan 04, 2024
Global reinsurer capital rose by $45 billion to $635 billion over the nine months to September 30, 2023, driven by retained earnings, recovering asset values and new inflows to the catastrophe bond market, according to insurance and reinsurance br...
Posted: Jan 04, 2024
The Risk Management Society (RIMS), has confirmed that David Arick will lead the Society as president for the 2024 term. Arick is the Assistant Treasurer, Global Risk Management at International Paper Company, a producer of fiber-based packaging a...
Posted: Jan 04, 2024
The UK life insurance sector is the only life sector in Europe with an improving outlook for 2024, which is largely due to the prospect of strong profitable growth in pension risk transfers, says Fitch Ratings. The agency highlighted how higher in...
Posted: Jan 04, 2024
Bermuda-headquartered reinsurance firm PartnerRe has said that William Strasser has been appointed as its new Head of Aviation. Strasser succeeds Benjamin Weber who is retiring in early 2024 after a 25 year career with PartnerRe. “William ha...
Posted: Jan 04, 2024
Berkshire Hathaway Specialty Insurance (BHSI) has added enhancements to its several multinational capabilities, expanding its partner network and internal team of multinational experts. Simultaneously it has also added multinational products and a...
Posted: Jan 04, 2024
After a challenging year for many cedents, insurance and reinsurance broker Aon has reported a “relatively smooth” January 1st, 2024, reinsurance renewal, characterised by a rebound in profitability, rebuilding capital positions, and i...
Posted: Jan 03, 2024
Socotra has revealed that Loggerhead Insurance, a Florida-based provider of homeowners insurance coverage in the state, has struck a deal to offer replacement coverage to those who will be issued policy non-renewal notices by Progressive Home. Wit...
Posted: Jan 03, 2024
Property and casualty insurer, The Travelers Companies, Inc. has completed its previously announced acquisition of Corvus Insurance Holdings, Inc. As stated in the announcement in November 2023, Travelers acquired the cyber insurance managing gene...
Posted: Jan 03, 2024
MS Amlin, the Lloyd’s global re/insurer, has confirmed this is in response to an increase in M&A and IPO activity across the region. MS Amlin, through the new offering, will enable businesses to access six new core services including Director...
Posted: Jan 03, 2024
HDI Global Specialty, a specialty lines insurer, has named Jamie Bowes as the new General Manager for Aviation of its Scandinavian Branch. His role came into effect on January 1, 2024. Bowes previously served as Head of General Aviation, making hi...
Posted: Jan 03, 2024
Property and casualty (P&C) insurer SES Risk Solutions (SES), has promoted Shaun Shenouda to the role of President. In the role, Shenouda is expected to guide the continued growth and expansion of SES’ product portfolio and technological footp...
Posted: Jan 03, 2024
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) for Spinnaker Insurance Company and its 100% reinsured subsidiaries, Spinnaker Specialty Insurance Company, and Mainsa...
Posted: Jan 03, 2024
Inigo Limited has issued its third catastrophe bond for $100 million via Montoya Re Ltd which will cover North American named storms and earthquakes. The bond will be fronted by Hannover Re and Inigo’s Syndicate 1301 at Lloyd’s will remain the ben...
Posted: Jan 03, 2024
Optio Group, the specialty Managing General Agent (MGA), continues to fortify its presence in the Middle East and North Africa (MENA) region with the recent appointment of Wael Mohsen as the Managing Director of Broking and General Lines for Optio...
Posted: Jan 03, 2024
B.P. Marsh & Partners Plc, a specialist private equity investor in early-stage financial services businesses, has successfully acquired a 30% Cumulative Preferred Ordinary shareholding in Ai Marine Risk Limited (Ai Marine), a London-based Mana...
Posted: Jan 03, 2024
Financial services leaders across the UK are said to be “upbeat” moving into the first quarter of 2024, despite concerns regarding inflation and interest rates. New research from KPMG UK shows that 87% of senior executives working in t...
Posted: Jan 03, 2024
KKR & Co. Inc. has announced the closing of the previously-announced transaction in which it is acquiring the remaining 37% of Global Atlantic Financial Group LLC, increasing KKR’s ownership to 100%. KKR acquired a majority of Global Atlantic...
Posted: Jan 03, 2024
The Insurance Council of Australia (ICA) has extended its Insurance Catastrophe declaration for the recent storms, rain and flooding to 3 January, underscoring the impact of severe weather across the east coast from Christmas through to the New Ye...
Posted: Jan 03, 2024
In the lead up to the 1.1 2024 casualty reinsurance renewals, numerous reinsurers called for wholesale action to tackle economic and social inflation, but according to broker Howden, “outcomes ultimately reflected more discerning underwritin...
Posted: Jan 03, 2024
Private investment firm Gallatin Point Capital and insurer, American Family Insurance Group, have successfully closed a new partnership whereby funds managed by Gallatin Point will acquire a majority stake in the attorney-in-fact for Trusted Resou...
Posted: Jan 03, 2024