Reinsurance News
Global insurer American International Group, Inc. (AIG) has entered into a definitive agreement with Zurich Insurance Group to sell the latter its global individual personal travel insurance and assistance business for $600 million in cash plus ad...
Posted: Jun 26, 2024
International insurer QBE has announced the appointment of Simon Højmark as Europe product manager for Cyber and Dr Patrick Seul as Europe product manager for Management Liability and Financial Institutions. Højmark has been with QBE for 13 years,...
Posted: Jun 26, 2024
The Board of Phoenix Group has revealed its intention to explore the potential sale of its SunLife Limited business. Following a strategic review, Phoenix has concluded that SunLife is “no longer core” to the delivery of its vision of...
Posted: Jun 26, 2024
Global re/insurer Markel Group Inc. and Valor Environmental have entered into a definitive agreement for Markel Group to acquire a majority interest in Valor and its related operating companies. The transaction is subject to customary closing cond...
Posted: Jun 26, 2024
Allianz Colombia has developed a new product, based on a parametric insurance policy, that would help protect the country’s farmers livelihood as well as access to credit to strengthen their financial resilience. The parametric insurance policy wo...
Posted: Jun 26, 2024
Oneglobal Broking, an independent Lloyd’s broker backed by JC Flowers, has appointed Andrew Ko as the Executive Director for Hong Kong, effective 18th June 2024. Ko is a key appointment according to Oneglobal as the company continues to expa...
Posted: Jun 26, 2024
India’s 53rd GST Council meeting has announced a decision that reinsurance commissions and co-insurance premiums will no longer be considered taxable services, providing significant relief to the insurance and reinsurance industry. Last year...
Posted: Jun 26, 2024
The Global Federation of Insurance Associations (GFIA) warns against a ‘disproportionate’ focus on climate risks in its response to a consultation by the International Association of Insurance Supervisors (IAIS) on the supervision of climate risks...
Posted: Jun 26, 2024
Global insurer Chubb remains the largest writer of cyber insurance in the US, with direct premiums written (DPW) in 2023 amounting to roughly $574 million, according to AM Best. Our table of the top 20 cyber insurers by premiums written in 2023, i...
Posted: Jun 25, 2024
Zurich North America has hired insurance executive James Bracken as Chief Financial Officer, succeeding Peter Hirs, who is set to return to Zurich Insurance Group in Switzerland as Group Head of Mergers & Acquisitions. As Zurich North America...
Posted: Jun 25, 2024
MIC Global (MIC), a provider of comprehensive embedded micro insurance solutions, is teaming up with inDrive, an international platform specialising in mobility and urban services, as well as local insurers. Their goal is to introduce advanced mic...
Posted: Jun 25, 2024
Hamilton Global Specialty, an underwriting platform of Hamilton Insurance Group, has recently announced the appointment of Niamh O’Brien as Chief Actuary. In her new role, O’Brien will report directly to Wilfred Chin, who was recently promoted to...
Posted: Jun 25, 2024
After consistently weak sector results for almost two years, the US P&C insurance industry registered its best opening quarter underwriting result in over 15 years in 2024, according to a new report from Swiss Re. The re/insurer observed that...
Posted: Jun 25, 2024
Lockton, Inc., the independent and privately held insurance brokerage, has reported global revenue of $3.55 billion for its fiscal year to April 30th, 2024, supported by solid growth at its reinsurance arm, Lockton Re. Overall, Lockton saw a 15% r...
Posted: Jun 25, 2024
As the re/insurance sector continues to evolve with technology, the underwriting process has seen considerable changes made in recent years, with the term bionic underwriting slowly making headwinds across the industry. Bionic underwriting leverag...
Posted: Jun 25, 2024
Northern Re, a reinsurance firm focused on long-tail casualty business, has announced an asset management partnership with Jaffa Capital Management, LLC, an insurance and reinsurance investment manager. Through this partnership Northern will have...
Posted: Jun 25, 2024
CatX, the digital marketplace that connects re/insurers and brokers with alternative capital, has appointed James Robinson to its Bermuda Board of Directors, who brings over two decades of experience in insurance, reinsurance, finance, and technol...
Posted: Jun 25, 2024
Artex Risk Solutions, the captive service provider and alternative risk transfer solutions subsidiary of insurance and reinsurance broker, Arthur J. Gallagher & Co., has acquired Implement Compliance Solutions & Resources Limited (ICSR). I...
Posted: Jun 25, 2024
Cytora, a digital risk processing platform, has entered into a partnership with a provider of property valuation solutions, e2Value, to give commercial underwriters new insights into risks by integrating e2Value’s data directly into Cytora’s risk...
Posted: Jun 25, 2024
Insurance industry intermediary, Specialist Risk Group (SRG), has agreed to acquire specialist schemes broker, Strategic Insurance Services Limited (SISL), subject to regulatory approval. Based in West Sussex, UK, SISL was established in 1997 and...
Posted: Jun 25, 2024
European cyber-insurance specialist COGITANDA has partnered with insurance giant, Everest and specialty re/insurer Lloyd’s Syndicate, IQUW to develop and expand its cyber product offering to clients with annual revenues of up to €250 million in Ge...
Posted: Jun 25, 2024
IBISA, the global climate insurtech, has successfully closed a $3 million funding round, with the proceeds set to go towards scaling its parametric insurance solutions for weather-related risks in Asia and Africa. The round was led by The Acumen R...
Posted: Jun 25, 2024
Beazley Security has gone live as an integrated cyber risk management company following the merger, announced in February 2024, of Beazley’s in-house cyber services team and its wholly owned cyber security company, Lodestone. Beazley Security has...
Posted: Jun 25, 2024
Sompo, a global provider of commercial and consumer property and casualty re/insurance, has appointed Allan Murley as Head of Distribution, Insurance for the United Kingdom (UK). Based in London, Murley will be responsible for overseeing the coord...
Posted: Jun 25, 2024
AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Dellwood Specialty, a startup excess and surplus (E&S) lines insurance company targeting small- and medium-size ente...
Posted: Jun 25, 2024