Reinsurance News
Pen Underwriting, a subsidiary of Arthur J. Gallagher & Co., has strengthened its marine practice with the appointment of Paul Wood to launch and lead a new London market yachts specialism. Wood has been appointed Product Lead for Yachts, and...
Posted: Dec 02, 2024
The California Earthquake Authority’s (CEA) reinsurance and risk transfer tower has contracted by a further 6% to $7.993 billion as of November 1st, 2024, as it opted to non-renew contracts to limit the amount of capacity in excess of its mi...
Posted: Nov 29, 2024
In 2023, around a quarter of the the insurance industry’s total premiums came from personal P&C insurance as the segment’s gross written premiums (GWP) represented around $1.1 trillion, with growth outpacing nominal global GDP in the per...
Posted: Nov 29, 2024
AXA’s Commercial unit has hired Mike Crane as SME & Specialty Director, effective January 2025. Crane’s appointment follows the departure of Deepak Soni in August. A renowned veteran across the sector, Crane has extensive experienc...
Posted: Nov 29, 2024
Global insurance intermediary group Howden has announced the appointment of Claire McDonagh and Mariana Weigel Munoz to its Accident & Health, Life, and Special Risks team. In their new positions, McDonagh’s and Weigel Munoz’s primary focus wi...
Posted: Nov 29, 2024
For the first nine months of this year, Barbados-based reinsurer Active Re saw its net reinsurance premiums expand by 20% year-on-year to $164 million, as the firm hails 2024 as “a period of significant achievements”. Established in 20...
Posted: Nov 29, 2024
Rokstone, a global specialist re/insurance MGA, has launched Disgrace Cover, an addition to its contingency product line. This policy also provides coverage for death and disablement, offering brands financial protection and reputation management...
Posted: Nov 29, 2024
CyberCube, a provider of cyber risk analytics, has warned that organisations must prepare for the escalating risk of unplanned technology outage events, primarily driven by a rise in cloud service provider outages and an increased frequency of ind...
Posted: Nov 29, 2024
Mario Wilhelm and Anthony Chaillet have left Swiss Re to leverage their combined experience across investments, re/insurance, and partnerships to establish insurance advisory firm, Rift Partners. The company aims to focus on expanding access to in...
Posted: Nov 29, 2024
Kiwi insurer Tower Limited has posted an underlying net profit after tax (underlying NPAT) of $83.5 million and a reported profit of $74.3 million for the financial year ended September 30, 2024. This increase was a significant turnaround from the...
Posted: Nov 29, 2024
While insurers are striving to innovate and navigate challenging market conditions, they are failing to meet customers expectations, while customers also need to adapt to the changing insurance landscape, Alastair Swift, Head of CRB Global Lines &...
Posted: Nov 29, 2024
Bridgehaven Insurance, the hybrid fronting insurer, will serve as capacity provider alongside Accredited on a new co-insurance arrangement with Policy Expert, the UK personal lines managing general agent (MGA). According to the announcement, the a...
Posted: Nov 29, 2024
European P&C insurance run-off group Marco Capital Holdings Limited has completed its acquisition of Inceptum Insurance Company Limited, a UK non-life insurance company in run-off, from Randall & Quilter II Holdings Ltd. The acquisition wa...
Posted: Nov 29, 2024
CelsiusPro has unveiled ParameterPro 2.0, a platform that enables brokers to visualise, structure, and model parametric climate and NatCat insurance solutions with “unmatched” speed and precision. According to the firm, this new platfo...
Posted: Nov 29, 2024
Altea Insurance (Altea), the multi-class, multi-year Managing General Agent (MGA) specialising in the healthcare and medical sectors, has appointed Holly Dixon as Senior Underwriter. Dixon will report to Altea Chief Executive Officer, Carly Matson...
Posted: Nov 29, 2024
Insurance technology firm Bindable has announced a distribution partnership with Recoop Disaster Insurance to bring Recoop’s innovative disaster insurance product to Bindable’s extensive network of carriers, brokers, affinity groups, a...
Posted: Nov 29, 2024
AM Best, the credit rating agency, has upgraded the Financial Strength Rating of AzRe Reinsurance, OJSC (AzRe) to B++ (Good) from B+ (Good), and its Long-Term Issuer Credit Rating to “bbb” (Good) from “bbb-” (Good), with a stable outlook for both...
Posted: Nov 29, 2024
Speaking at the Lloyd’s Q4 2024 Market Message, Patrick Tiernan, Chief of Markets, explained that whilst looking at the jump off point for 2025, he sees a “global specialty market that continues to experience favourable, if not, more c...
Posted: Nov 28, 2024
Global speciality insurance and reinsurance group, Chaucer, has highlighted growing demand in Mexico for insurance protection against cartels and other organised crime, driven by cartel activity spreading into new areas and greater demand from sec...
Posted: Nov 28, 2024
Australian insurer IAG is to acquire 90% of RACQ’s existing insurance underwriting business for $855m, under a 25-year exclusive partnership between the two companies. According to the announcement, IAG also has the option to acquire the remaining...
Posted: Nov 28, 2024
French reinsurance giant SCOR’s corporate foundation is backing an initiative led by Lancaster University Management School (LUMS) to use prediction markets to combine diverse forecasts of future climate into unified predictions, potentially...
Posted: Nov 28, 2024
Allianz Partners, a provider of insurance and assistance services, has announced that Michael Buttstedt has assumed the role of Chief Financial Officer and Board Member as of September 1, 2024. He reports directly to Tomas Kunzmann, CEO of Allianz...
Posted: Nov 28, 2024
Credit rating agency AM Best has maintained its stable outlook for the US health insurance market, citing strong capitalisation and profitability as key factors, among others, despite declining underwriting results. In 2023, the health insurance s...
Posted: Nov 28, 2024
Zurich Resilience Solutions (ZRS), the commercial risk advisory and services unit of global insurer Zurich Insurance Group, has launched Climate Spotlight, an interactive digital solution leveraging climate data to provide businesses, municipaliti...
Posted: Nov 28, 2024
As the insurance and reinsurance industry continues to grow, the extensive risk landscape also continues to widen, with major risks stemming from key areas such as climate change and cyber, which according to John Neal, Chief Executive Officer (CE...
Posted: Nov 28, 2024