Reinsurance News
Sønr, the startup scouting and innovation management platform, is entering a strategic one-year collaboration with PZU, Poland’s largest insurer, to leverage Sønr’s platform to source startups and accelerate innovation within PZU’...
Posted: Dec 14, 2023
Despite noting that certain investors feel that reinsurers are now more exposed by their shorter investment portfolio durations, analysts at Morgan Stanley believe that the impact should be marginal, while investment income should continue to see...
Posted: Dec 13, 2023
Vanbridge and GreensLedge have announced the formation of Convergence Point Solutions (CPS), their joint venture company. They have also announced the launch of its Alternative Letter of Credit (ALOC) Facility, which has been designed for companie...
Posted: Dec 13, 2023
The UK motor insurance market is expected to record its worst performing year since 2010 this year, according to EY’s latest UK Motor Insurance Results. EY’s report said that a net combined ratio (NCR) of 114.6% is now forecast for motor ins...
Posted: Dec 13, 2023
Ryan Specialty, a service provider of specialty products and solutions for insurance brokers and carriers, has announced the formation of Ryan Financial Lines, its international financial lines managing general underwriter (MGU). Ryan Financial Li...
Posted: Dec 13, 2023
London headquartered insurance and reinsurance marketplace Lloyd’s has announced that S&P has revised its financial strength rating to ‘AA–’; outlook stable, from ‘A+’; outlook stable. According to Lloyd’s, the rating upgrade reflects th...
Posted: Dec 13, 2023
Insurtech Vertafore has named Tracey Brown to head its distribution and compliance management (DCM) segment as Senior Vice President (SVP) and General Manager. In her new position, Brown will oversee Vertafore’s Sircon solutions, which simplify co...
Posted: Dec 13, 2023
Right Choice Insurance Brokers (RCIB) has selected Howden Driving Data, part of the Howden insurance group, as the telematics provider for its newly relaunched Autosaint brand. A pioneer in telematics insurance, Autosaint has helped tens of thousa...
Posted: Dec 13, 2023
A new report from global re/insurance broker Aon, in partnership with Beauhurst, shows that there is a significant funding gap for intellectual property (IP) rich UK organisations, with only 2% having reached scale-up status and also raising equi...
Posted: Dec 13, 2023
Executives from the Bermuda reinsurance market are expressing optimism about the 2024 property reinsurance operating environment, foreseeing stability in terms and conditions. While there is some divergence in views on January 1 property catastrop...
Posted: Dec 13, 2023
Marsh, insurance broker and a business of Marsh McLennan, has announced a series of senior appointments across its UK and Global Placement leadership team, including Tom Davies’ as Placement Leader, UK, effective 1 January, 2024. Davies brings ove...
Posted: Dec 13, 2023
Staff at the Texas Windstorm Insurance Association (TWIA) explained that the wind and hail insurer of last resort for the state of Texas requires approximately $1 billion more in reinsurance funding for 2024 when compared with 2023, as exposure gr...
Posted: Dec 13, 2023
With countries striking an agreement at COP28 to transition away from all fossil fuels to reach net zero emissions globally by 2050, Europe’s insurance industry has reconfirmed its commitment to fighting climate change and “overcoming...
Posted: Dec 13, 2023
AXA XL, the P&C and specialty risk division of global insurer AXA, has handed Mike Gosselin responsibility for underwriting strategy, portfolio performance, and driving profitability for its UK business across its Lloyd’s and company market pl...
Posted: Dec 13, 2023
DUAL Europe has appointed Gwenaël Hervé as Chairman to establish and develop the company’s business in France, which will initially offer Financial Lines, Professional Indemnity, Cyber, construction all risks and Title and M&A insurance...
Posted: Dec 13, 2023
MSCI, the index that measures companies’ resilience to ESG risks, recognises Generali’s sustainability leadership as it confirms the Italian insurer’s “AAA” ESG rating. The MSCI analysis, involving more than 8,500 companies, has...
Posted: Dec 13, 2023
As per analysts from BMO Capital Markets, tax-related legislation, which is likely to be passed by the Bermudian government this week, “will push GAAP corporate income tax rates materially higher.” Analysts at BMO said that this is a &...
Posted: Dec 13, 2023
Upfort, a cyber security and insurance platform and Arch Insurance, a global provider of specialty risk insurance solutions, have entered into a strategic partnership to transform cyber insurance programs for small and medium-sized enterprises (SM...
Posted: Dec 13, 2023
The London Market Group (LMG) has welcomed the new metrics, on which the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) will be asked to report. The list of the metrics, recently published by the UK Treasury, outli...
Posted: Dec 13, 2023
Cyber analytics firm CyberCube has launched Version 5.0 (v5) of Account Manager, the software-as-a-service (SaaS) solution designed for underwriters, with expanded financial quantification insights and several data enhancements. Account Manager v5...
Posted: Dec 13, 2023
Specialist insurer of defined benefit pension schemes, Pension Insurance Corporation plc (PIC) has announced that it has concluded a £65 million full buy-in of the Chemring Group Staff Pension Scheme. From what we understand, the transaction secur...
Posted: Dec 13, 2023
Financial advisory firm KPMG has appointed Huw Evans as its Head of Insurance in the UK, replacing Trevor Jones, who retires in April 2024 and will work closely with Evans to ensure a smooth transition. Karim Haji, Global and UK Head of Financial...
Posted: Dec 13, 2023
Atain Insurance Companies, an insurer and member of H.W. Kaufman Group, has appointed Cara Delestienne as Vice President (VP) and Head of Binding Authority, based in Pittsburgh and reporting to Linc Trimble, Chief Underwriting Officer. In this new...
Posted: Dec 13, 2023
Global advisory, broking, and solutions company, WTW has announced the launch of CyProtect Bermuda, a cutting-edge cyber insurance product designed and tailored to be a comprehensive solution for financial, professional, and executive risks. WTW’s...
Posted: Dec 13, 2023
The Standard Insurance Company has promoted Tony Fung to second vice president of IDI Underwriting and GSI. In his new role, Fung is expected to lead the fully underwritten and Guaranteed Standard Issue Individual Disability Insurance underwriting...
Posted: Dec 12, 2023