Reinsurance News
DARAG Group, a (re)insurance specialist in discontinued business and capital and operational relief, has entered into a service agreement with UnipolSai Assicurazioni S.p.A. (Unipol), an Italian insurer within the Unipol Group. Unipol is a major p...
Posted: Jun 17, 2024
AXIS Capital Holdings Limited, a specialty insurance company, has released a new report titled “Navigating Risk in the Energy Transition”, based on independent research which examines how various risks, including climate change, econom...
Posted: Jun 17, 2024
Bangkok-based Asian Reinsurance Corporation (Asian Re) has announced the appointment of a new Chairperson, Sumalee Satitchaichareon, Deputy Director-General, Fiscal Policy Office, the Ministry of Finance of Thailand. Asian Re is an intergovernment...
Posted: Jun 17, 2024
At S&P Global Ratings’ 40th Annual North American Insurance Conference, industry experts discussed current trends and challenges, agreeing that while the insurance landscape has evolved over the past four decades, the industry has succes...
Posted: Jun 14, 2024
The recent severe convective storms and flooding that have affected multiple countries in Central Europe since June 6 are expected to result in economic and insured losses amounting to hundreds of millions of EUR, according to Aon’s weekly catastr...
Posted: Jun 14, 2024
Florida’s governor Ron DeSantis’ 2024-2025 Focus on Florida’s Future budget invests millions in the Florida Office of Insurance Regulation’s (OIR) to bolster residential home mitigation programs in the state. The OIR has primary respon...
Posted: Jun 14, 2024
Property and auto-focused insurance group, Progressive, has reported significant, net catastrophe losses of $722.1 million for the month of May, leading the firm to record a reinsurance recoverable of $95.1 million in its property segment under it...
Posted: Jun 14, 2024
Global reinsurer, MS Reinsurance, has announced the appointment of Miguel Marin as the new Head of Data, effective immediately. Based out of Zurich, Germany, Marin will report to Chief Information and Data Officer, Benedikt Schmid, who commented:...
Posted: Jun 14, 2024
Managing General Agents (MGAs), Managing General Underwriters (MGUs), and cover-holder groups have amassed approximately USD 23.9 billion in revenues worldwide in 2023, according to a recent report by industry analysis firm Insuramore. The bulk of...
Posted: Jun 14, 2024
Davies, a provider of professional services and technology for insurance and regulated markets, has announced two senior leadership appointments and the rebranding of Afirm, known for its premium audit, loss control inspection, and risk mitigation...
Posted: Jun 14, 2024
Estimated insured losses in Germany from the Central Europe Floods will likely fall within the range of €2 billion to €3 billion (US$2.1 billion to US$3.2 billion), Moody’s RMS Event Response has stated. Heavy and persistent rainfall fell across c...
Posted: Jun 14, 2024
SCOR’s CEO Thierry Léger and Lloyd’s CEO John Neal have been appointed chair and vice-chair of Insurance Europe’s Reinsurance Advisory Board (RAB) respectively. Thierry Léger takes over from Gen Re’s Charlie Shamieh, who has held the RAB cha...
Posted: Jun 14, 2024
International re/insurance group Aventum has appointed a new Head of Learning & Development, Jeff Uden. In his new role, Uden will work collaboratively with the wider HR team across all aspects of Aventum’s holistic talent strategy including a...
Posted: Jun 14, 2024
The UK cyber insurance market has become increasingly “buyer-friendly”, with an abundance of capacity and intense competition among insurers driving rate decreases, according to Marsh’s Q1 2024 cyber insurance report. At the same time, gener...
Posted: Jun 14, 2024
Cayman Islands-based annuity reinsurer Ascendant Re has revealed that its Q1 2024 net income was $18.06 million, up considerably compared to Q4 2023’s figure of $6.66 million. Meanwhile, Ascendant Re’s total assets increased by $18.05...
Posted: Jun 14, 2024
Trisura Group Ltd, a specialty insurance provider operating in surety, risk solutions, and corporate insurance, announces several senior management appointments across the organisation. Richard Grant, who has been with Trisura Canada since its inc...
Posted: Jun 14, 2024
Dynamic Reinsurance (Dynamic Re) recently announced a business synergy agreement with Tokio Marine HCC – Financial Lines to collaborate on joint opportunities within Financial Lines. Dynamic Re, an underwriting agency based in the United States, p...
Posted: Jun 14, 2024
AM Best has revised the outlooks of Florida Family Insurance Company and its subsidiary, Florida Family Home Insurance Company, from negative to stable, a move that reflects improvement in its operating performance due to more strict underwriting...
Posted: Jun 14, 2024
Malaysian Re and Pacific Life Re Limited, Singapore Branch have signed an extension of their Memorandum of Understanding (MoU) on providing sustainable retakaful solutions to Takaful Operators. This collaboration was first established in 2019, and...
Posted: Jun 14, 2024
Markel, the insurance operations within the Markel Group Inc., has appointed Jamie Carsey as Chief Claims Officer to oversee US and Bermuda claims operations within the company’s Specialty division. Carsey joined Markel in 2017 and has since...
Posted: Jun 14, 2024
AM Best, a global credit rating agency for the insurance sector, has reaffirmed Asian Reinsurance Corporation (Asian Re), a regional non-life reinsurer, with a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of “bbb-” (...
Posted: Jun 14, 2024
Earnix, a provider of AI-based SaaS solutions for financial services, has announced a strategic partnership with Verisk, a data analytics and technology provider. This collaboration will allow Earnix to incorporate Verisk’s ISO Electronic Ra...
Posted: Jun 14, 2024
CRC Group, a North American wholesale specialty insurance distributor, has announced the appointments of Yoni Armstead, Dylan Kamen, and Lindsay Holmes. These appointments are part of CRC Group’s strategic effort to enhance support for retai...
Posted: Jun 14, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, and WINT Water, a provider of cutting-edge water management and leak-prevention solutions, Intelligence have announced the extension of their partners...
Posted: Jun 14, 2024
The Bermuda International Long Term Insurers and Reinsurers (BILTIR), a trade association with over 70 member (re)insurance companies and service providers, has published a report examining the history and present condition of Bermuda’s long...
Posted: Jun 14, 2024