Reinsurance News
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
Following Houthi rebel attacks on cargo vessels in the Southern Red Sea and the Gulf of Aden, DBRS Morningstar has warned of “upward pressure on war insurance premiums” alongside disruptions to global supply chains and shipping lines....
Posted: Dec 21, 2023
French reinsurer SCOR has announced that David Sütterle and Damien Bartlett will be stepping into new senior roles in 2024, which are set to “enhance” the firm’s strategic focus and “streamline” its operations. Sütter...
Posted: Dec 21, 2023
Responding to damage caused by ex-tropical cyclone Jasper, the Insurance Council of Australia (ICA) has declared the event an ‘Insurance Catastrophe’, noting that 3,800 claims have already been lodged across areas stretching from Cape...
Posted: Dec 21, 2023
DeNexus Inc, a provider of second-generation cyber risk quantification and management services, has hired Insurance-Linked Securities (ILS) expert, George Mawdsley, as Head of Risk Solutions. In the role, Mawdsley will directly focus on developing...
Posted: Dec 21, 2023
US-based parametric re/insurance group NormanMax Insurance Holdings has received ‘approval in principle’ from Lloyd’s to launch parametric Syndicate 3939 in 2024, to be managed by Apollo Syndicate Management. NormanMax noted that Syndicate 3939 ai...
Posted: Dec 21, 2023
Specialty re/insurer Aspen Insurance Holdings Limited has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed underwritten initial public offering (IPO) of its ordinary shares. T...
Posted: Dec 21, 2023
New Energy Risk (NER) and Ascend Analytics, LLC (Ascend) have closed an industry-first energy storage insurance policy, that is set to provide coverage for the performance of Ascend’s battery storage forecasting and bidding optimization platform....
Posted: Dec 21, 2023
Economies around the world and inflation are predicted to improve next year, which will lead central banks like the US Federal Reserve (Fed Reserve) to cut interest rates in 2024, although countries like China might do it sooner, while Japan could...
Posted: Dec 21, 2023
Property and Casulty insurer Skyward Specialty Insurance Group Inc. has appointed Mike Morrissey, CFA to its Board of Directors, effective December 14th, 2023. Andrew Robinson, Skyward Specialty Chief Executive Officer, commented, “I am excited to...
Posted: Dec 21, 2023
Super-regional property and casualty insurance holding company, Heritage Insurance Holdings, Inc., has completed the primary offering of 3,703,703 shares of its common stock, which alongside a private placement, has raised gross proceeds of $26.5...
Posted: Dec 21, 2023
London domiciled Ignite, a litigation insurance specialist, has made the appointments of Sally-Anne Bradley to ATE Operations Manager and Amy Rothbarth to Technical Underwriter. After The Event (ATE) Insurance is a form of litigation insurance bui...
Posted: Dec 21, 2023
Independent insurance broker Lockton has partnered with Artificial Labs, the algorithmic underwriting insurtech, to implement Artificial’s new digital Contract Builder in an effort to streamline the creation and processing of new MRCv3 insurance c...
Posted: Dec 21, 2023
The Federation of European Risk Management Associations (FERMA) has unveiled a comprehensive roadmap for organisations to navigate and prioritise emerging risks. In collaboration with Marsh, FERMA’s latest White Paper, titled “The Road...
Posted: Dec 20, 2023
Legal & General Retirement America (LGRA), a provider of pension risk solutions across the United States, has reached the milestone of $10 billion in total written premium and over 100 deals since its inception in 2015. The company has secured...
Posted: Dec 20, 2023
Analysts at Morgan Stanley have highlighted how Aon’s recently announced acquisition of middle-market property and casualty (P&C) broker, NFP, for $13.4 billion may have execution risks and will “take time to become accretive.̶...
Posted: Dec 20, 2023
Mike Hall, Chairman of the International Group of P&I Clubs (IG) Reinsurance Committee, has announced a “positive renewal” for shipowners for February 2024, with all vessel types seeing rate reductions. With IG’s Pooling and...
Posted: Dec 20, 2023
Global credit ratings agency, AM Best, has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of Definity Insurance Company (Definity Insurance). At t...
Posted: Dec 20, 2023
AXA XL has announced it is partnering with Oversea Insurance Agency, an EPIC company, to provide specialised Marine General Liability insurance coverage for Marine Artisans in the U.S. As per AXA XL’s description, Marine Artisans are contrac...
Posted: Dec 20, 2023
Aon, the global re/insurance broker, has signed a definitive agreement to acquire NFP, a middle-market property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, from funds affiliated with NFP’s main capit...
Posted: Dec 20, 2023
QBE Re, the reinsurance arm of QBE Insurance Group, has hired Swiss Re’s Andrew Guarnori as Head of Underwriting Oversight. At the same time, the company has also promoted Ashish (Ash) Ahluwalia to Global Head of Performance & Portfolio...
Posted: Dec 20, 2023
As 2024 draws closer, Martina Neary, UK Insurance Leader at EY, has suggested the UK’s specialty insurance market will face a host of challenges in the year, including increasing weather events, sustained inflation and cost pressures, and increasi...
Posted: Dec 20, 2023
Global Risk Solutions, Inc., (GRS), a provider of property & casualty (P&C) claims adjusting and environmental risk management solutions, has announced the retirement of William “Bill” Kramer as Chief Executive Officer of the company’...
Posted: Dec 20, 2023