Reinsurance News
Unlike previous hard reinsurance market cycles, this current one is not characterised by a shortage of available capital, according to analysts at global ratings agency, AM Best. The agency recently revised its sector outlook for the global reinsu...
Posted: Jun 10, 2024
The Lloyd’s Market Association (LMA), representing insurers and reinsurers in the London insurance market, has issued revised versions of the hull and cargo oil price cap clauses. These updates simplify the language to accommodate recent modificat...
Posted: Jun 10, 2024
The International Underwriting Association (IUA), which represents companies in the London insurance market, has formed a new committee to oversee the adoption of digital services. As part of the Blueprint Two initiative, a unified digital platfor...
Posted: Jun 10, 2024
Guy Carpenter, the reinsurance broking arm of Marsh McLennan (MMC), has announced the launch of the Capital & Advisory group as part of its Global Capital Solutions unit. Alexander Schnieders has been named the Global Head of Capital & Adv...
Posted: Jun 10, 2024
Ardonagh Italia, a subsidiary of The Ardonagh Group, has finalised its acquisition of both Mediass S.p.A. and Mansutti S.r.l as previously announced. Mediass, founded in 1996 and based in Pescara, serves over 120,000 customers. It provides insuran...
Posted: Jun 10, 2024
Fiducia, a specialty insurance managing general agent (MGA) has announced the appointment of a new senior development underwriter, Mike Hall, to its marine cargo, freight liability and fine art and specie facilities to support UK and European brok...
Posted: Jun 10, 2024
As insured catastrophe losses surge, potentially leading to higher rates and diminished homeowner protection, S&P Global Ratings, a provider of credit ratings and research, examines the challenges facing property/casualty insurers. In their re...
Posted: Jun 10, 2024
Miller, an independent specialist insurance and reinsurance broker, has appointed industry veteran Tokinori Kono as Head of Non-Marine Broking for its Japanese business, Lead Insurance Services Limited (Lead). This appointment follows Miller’s acq...
Posted: Jun 10, 2024
Global credit ratings agency AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” (Good) of Worldwide Reinsurance Limited (Worldwide Re) (...
Posted: Jun 10, 2024
Atrium, a specialist insurer at Lloyd’s of London, has announced the appointment of Steve Hearn as Non-Executive Director to the Atrium Underwriters Limited board (AUL), subject to regulatory approval. He will be taking over the position fro...
Posted: Jun 10, 2024
The German Insurance Association (GDV) reported last week that torrential rains and flooding in Bavaria and Baden-Württemberg, between May 31st and June 4th, is expected to result in insured losses of around €2 billion (USD 2.15bn). The floods dam...
Posted: Jun 10, 2024
Headquartered in New York, AmTrust Financial Services, Inc., an insurance holding company, warmly welcomes seasoned legal expense specialists Kevin Le Messurier-Girling and Victoria Girling to its international team, enhancing its presence in Cana...
Posted: Jun 10, 2024
Allianz Commercial’s annual Safety and Shipping Review reveals a historic low in shipping losses despite escalating risks from geopolitical tensions and climate change. In 2023, the global count of large ships lost dropped significantly to 26, dow...
Posted: Jun 10, 2024
Insurtech, Cover Whale Insurance Solutions, Inc., has hired Rachael Dugan as the company’s first General Counsel & Corporate Secretary, where she will report directly to Chief Executive Officer (CEO), Dan Abrahamsen. In the role, she is...
Posted: Jun 10, 2024
According to Mohit Pande, Chief Underwriting Officer of Property at Swiss Re, the impacts of Strikes, Riots, and Civil Commotion (SRCC) are at an all-time high, underscoring the urgent need for effective risk management and mitigation strategies w...
Posted: Jun 10, 2024
WTW, a global advisory, broking, and solutions company, has named Jean-Francois Tremblay as the head of the Property & Casualty (P&C) practice within Canada for the Insurance Consulting and Technology (ICT) division. Tremblay has extensive...
Posted: Jun 10, 2024
Just Group’s defined benefit (DB) business has completed 400 bulk annuity transactions, reaching a milestone since entering the market in 2012. The life insurer launched with the vision of using the Group’s underwriting expertise and innovation cr...
Posted: Jun 10, 2024
Rating agency AM Best has revised its sector outlook for the global reinsurance industry from stable to positive, citing an expectation of robust reinsurer profit margins and saying it expects underwriting discipline will be maintained. This is th...
Posted: Jun 09, 2024
Third-party capital is expected to continue growing and to remain an important way for reinsurers to reduce natural catastrophe risk, according to S&P analysts. According to a recent S&P report the risk level of natural catastrophes –...
Posted: Jun 07, 2024
Victor, a global managing general underwriter (MGU), has announced the appointment of industry veteran Arno Wijnands as the new country manager for Victor Netherlands. In his new role, Wijnands will report directly to Tim Carter, Global Chief Unde...
Posted: Jun 07, 2024
WTW, a global advisory, broking, and solutions company, has announced a new partnership with Guidewire, a provider of software solutions for the insurance industry. This collaboration will enable carriers to quickly integrate WTW and Guidewire’s c...
Posted: Jun 07, 2024
Guidewire, a platform provider for property and casualty (P&C) re/insurers, has appointed Shaji Sethu as the Senior Vice President (SVP) and Managing Director of Guidewire Asia-Pacific (APAC). Sethu will report to John Mullen, President and Ch...
Posted: Jun 07, 2024
AM Best has revised outlooks to positive for W.R. Berkley Corporation and its subsidiaries, which reflects its strong balance sheet and operating performance. The Long-Term Issuer Credit Rating (Long-Term ICR) and Long-Term Issue Ratings (Long-Ter...
Posted: Jun 07, 2024
NFP, a middle-market property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, has announced that Mike James has been appointed as chair of Finseca’s board of directors. Finseca is an organisation compris...
Posted: Jun 07, 2024
The Baldwin Group has unveiled Cyber Navigator – its Application Program Interface (API)-connected cyber insurance placement platform. According to the announcement, business insurance buyers will be able to complete a digital application to recei...
Posted: Jun 07, 2024