Reinsurance News
Rokstone, the Aventum Group’s international re/insurance MGA, has appointed Paul Amrose as head of its new North American Excess Facultative Property team, based in Connecticut. Amrose is set to join Rokstone on the 2nd of January after serving hi...
Posted: Dec 27, 2023
Fairfax Financial Holdings has completed its acquisition of all of the shares of Gulf Insurance Group (GIG) under the control of Kuwait Projects Company (Holding), bringing Fairfax’s equity interest in GIG from 43.69% to 90.01%. The acquisition wa...
Posted: Dec 27, 2023
The Insurance Council of Australia (ICA) has declared a ‘Significant Event’ for regions of Queensland, New South Wales and Victoria impacted by severe storms between 23 December and Boxing Day. As per reports, the severe storms brought torrential...
Posted: Dec 27, 2023
Aon’s $13.4 billion acquisition of NFP is expected to fortify its standing in core markets and strategically expand its influence in secondary markets, as noted by insights from Insuramore. NFP, a significant player across various broking se...
Posted: Dec 27, 2023
Sompo International, a global provider of commercial and consumer property and casualty re/insurance, has appointed Elena Talegón as Head of Marine Insurance for Iberia. According to the announcement, she will be based in Madrid, where she will re...
Posted: Dec 27, 2023
India’s increase of the foreign direct investment (FDI) cap in the insurance sector from 49% to 74% in 2021 has spurred international insurance companies to make significant strides, injecting fresh capital and global best practices into the...
Posted: Dec 27, 2023
Analysts at KBW anticipate casualty reinsurance conditions will “broadly improve” in 2024 as fears over domestic social inflation sustain primary rate increases, which “should drive down ceding commissions”. “Core com...
Posted: Dec 22, 2023
McGriff, a retail insurance broker across the US, has realigned the business’s organisation into three distinct geographic regions, as well as appointing four company executives to new leadership roles. According to the broker, the new struc...
Posted: Dec 22, 2023
W.R. Berkley Corporation has appointed Mark Schuermann as the President of Berkley Entertainment, a Berkley subsidiary. He succeeds Cindy Broschart, who has been named Chair of the business. Both appointments are effective immediately. Berkley Ent...
Posted: Dec 22, 2023
Credit rating agency KBRA has affirmed the insurance financial strength ratings (IFSRs) for two key operating subsidiaries of Heritage Insurance Holdings, Inc. (HIH). KBRA maintained the BBB+ rating for Heritage Property & Casualty Insurance C...
Posted: Dec 22, 2023
In the aftermath of ex-tropical cyclone Jasper, which made landfall on December 13, far north Queensland, Australia, is grappling with unprecedented flooding that has led to emergency rescues, power outages, and substantial material losses. Accord...
Posted: Dec 22, 2023
Midwest Holding Inc. has announced the completion of the acquisition of Midwest by an affiliate of Antarctica. If you recall, the transaction was first announced in May when the two firms entered into a definitive merger agreement. Then in July, i...
Posted: Dec 22, 2023
Bermuda insurer and reinsurer, Hamilton Insurance Group, has appointed Wilfred Chin as Chief Actuary at Hamilton Global Specialty, its underwriting platform written by Syndicate 4000 at Lloyd’s and Hamilton Insurance DAC. Chin joins Hamilton from...
Posted: Dec 22, 2023
White Mountains Insurance Group Ltd’s specialty P&C re/insurance subsidiary, Ark Insurance Holdings Limited, has sponsored a renewal of its $250 million reinsurance sidecar, Outrigger Re Ltd. for the 2024 calendar year, on similar terms...
Posted: Dec 22, 2023
Ryan Specialty has signed a definitive agreement to acquire Castel Underwriting Agencies Limited, a Managing General Underwriting (MGU) platform, from Arch Financial Holdings (UK) Limited and minority shareholders. Headquartered in London and foun...
Posted: Dec 22, 2023
Global insurer, AXA Group, has announced that its subsidiary AXA France Vie has entered into a reinsurance agreement with AXA Réassurance Vie France (ARVF), a reinsurer co-owned by AXA Assurances Vie Mutuelle1 and AXA Assurances IARD Mutuelle Acco...
Posted: Dec 22, 2023
R&Q Insurance Holdings said this morning that the Bermuda regulator has requested an independent actuarial review of its legacy reserves, its capital and its cash flow projections, which will put on hold any legacy transaction to Bermuda based...
Posted: Dec 22, 2023
Prudential plc, an international insurance giant, has approved a capital increase for its business in Mainland China to drive growth. CITIC-Prudential Life (CPL), a 50/50 joint venture with China’s CITIC Bank, is said to be increasing its re...
Posted: Dec 22, 2023
The International Association of Insurance Supervisors (IAIS) has released its 2023 Global Insurance Market Report (GIMAR), highlighting key risks and trends shaping the global insurance sector. The report draws on data collected from approximatel...
Posted: Dec 22, 2023
Everest Group, Ltd., a global underwriting leader specialising in property, casualty, and specialty reinsurance and insurance solutions, has announced the immediate appointment of Glen Browne as the Global Head of Accident & Health (A&H)....
Posted: Dec 21, 2023
S&P Global Market Intelligence has reported on the largest Life and Property and Casualty Insurer Rankings, with State Farm Mutual Automobile Insurance Co. ranked as the largest global P&C insurer, with $77.59 billion of direct premiums wr...
Posted: Dec 21, 2023
Bloomberg Intelligence in its report, “Europe P&C Insurance Full-Year Outlook”, has forecasted that claims inflation is likely to remain a pronounced feature in 2024, as it has been in 2023. The challenge that insurers face is not being...
Posted: Dec 21, 2023
Fidelis Insurance Group’s Chief Executive Officer Dan Burrows has suggested the firm is “well placed” to pursue the significant opportunities it sees ahead in the market. The firm’s Board of Directors have thus approved the...
Posted: Dec 21, 2023
Everest has appointed Soledad Muné as Chief Operating Officer, Latin America, Everest Insurance International, effective January 1, 2024. Muné has almost two decades of industry experience and joined Everest’s International Insurance division in e...
Posted: Dec 21, 2023
Bain Capital Insurance has committed a substantial $200 million investment to spearhead The Mutual Group, a novel insurance platform designed to revolutionise the mutual insurance industry. This initiative is set to combine equity capital and outs...
Posted: Dec 21, 2023