Reinsurance News
Gallagher Re has announced a new partnership with Colorado State University (CSU) to research tropical cyclone activity and trends, aiming to address challenges faced by the insurance and reinsurance industries and beyond. This partnership will al...
Posted: May 30, 2024
In its full year 2023 financial results, Helios Underwriting has revealed it achieved a total comprehensive profit of £29.9 million, up from a loss of £0.1 million in 2022, while its capacity portfolio combined ratio improved to 86%. Helios explai...
Posted: May 30, 2024
Digital processes are increasingly integrated into the insurance customer journey, with more than half of leading UK insurers implementing AI chatbots to streamline customer operations, according to Altus Consulting’s ‘Digital Bar’ report. The rep...
Posted: May 30, 2024
Specialist data analytics solutions provider, Optalitix has partnered with British terrorism reinsurer Pool Re to implement a new, end-to-end treaty and claims management system with full auditability and enhanced reporting. Pool Re is the insuran...
Posted: May 30, 2024
Amwins, a global distributor of specialty insurance products and services, has added residential flood coverage to its online marketplace, Amwins InstantQuote. Amwins IQ gives retail agents with choice and flexible coverage options, aiming to crea...
Posted: May 30, 2024
Actuarial Risk Management Ltd. (ARM) has appointed Lincoln Financial Group’s Ryan Bruner as Senior Consulting Actuary. Overall, he brings a deep degree of experience in valuation for annuity and life products, with strong expertise in partic...
Posted: May 30, 2024
Corvus Insurance has revealed the expansion of its underwriting appetite and its cyber services for policyholders. For its Smart Cyber Insurance product, which covers primary and excess policies, Corvus has now reportedly doubled its limit offerin...
Posted: May 30, 2024
Expleo, an engineering, quality assurance, and digital consulting company, partners with ACORD, a nonprofit organisation serving the insurance industry, in order to boost the London market’s modernisation efforts. Together, they provide test...
Posted: May 30, 2024
There is a positive sentiment for property-catastrophe reinsurance heading into 2025, with pricing at very attractive levels, a factor that should continue to benefit UK specialty re/insurers, analysts at Jefferies concluded following recent meeti...
Posted: May 29, 2024
Morningstar DBRS recently published a commentary that highlights the insurance protection gap on extreme weather and climate-related losses in Europe. Severe weather events are expected to become more frequent and intense in the longer term across...
Posted: May 29, 2024
Wenalyze has announced the appointment of industry veteran Mandy Hunt to the position of expert advisor. The insurtech enables commercial insurance risk carriers to automate underwriting processes and improve data quality to reduce premium leakage...
Posted: May 29, 2024
DUAL Group has announced the appointment of specialist lines veteran Scott Sayce as Group Head of Emerging Products, a newly created role. He will join the MGA on September 1, and will report to David Harries who joined DUAL as Group Director of U...
Posted: May 29, 2024
Specialist Risk Group’s Managing General Agent (MGA), MX, has announced that it will be launching a new specialist motorsport underwiring offering, MX Motorsport, which will underwrite all classes of motorsport business on a global basis sup...
Posted: May 29, 2024
Life and health reinsurer Reinsurance Group of America (RGA) announced that Axel André will join as Executive Vice President on June 24, 2024, becoming CFO on August 5, while Todd Larson transitions to Special Advisor to the CEO until his retireme...
Posted: May 29, 2024
Contractor fraud, a growing nationwide problem, costs Americans billions every year, impacting not only individuals but also insurance premiums throughout the industry, the Coalition Against Insurance Fraud (CAIF) has stated. Catastrophic events s...
Posted: May 29, 2024
The specialist insurer of defined benefit pension schemes, Pension Insurance Corporation plc (PIC), has concluded a £204 million full buy-in of the Arqiva Defined Benefit Pension Plan. The transaction reportedly secures the pensions of deferred an...
Posted: May 29, 2024
McGriff, a US retail insurance broker, reports that cyber insurance market rates in 2024 remain stable as businesses strengthen their cybersecurity measures. Businesses opting for higher retention levels or deductibles are also benefiting from pre...
Posted: May 29, 2024
Descartes Underwriting, a Paris-based managing general agent (MGA) focused on parametric insurance solutions, has appointed Matthew James as its new Commercial Director – UK & Ireland. He will be taking over the role from Paul Jones, who is le...
Posted: May 29, 2024
Lloyd’s, a global insurance and reinsurance marketplace, has announced the signing of a Memorandum of Understanding (MoU) with the Bermuda Monetary Authority (BMA) to bolster its commitment to driving innovation and education access. The initiativ...
Posted: May 29, 2024
Vienna Insurance Group (VIG) has revealed that its gross written premiums increased to €4.3 billion in the opening quarter of 2024, up by 11% compared to 2023’s Q1 figure of €3.9 billion. Hartwig Löger, CEO and Chairman of the Managing Board...
Posted: May 29, 2024
Bermuda-domiciled re/insurer SiriusPoint Ltd has appointed Susan Cross as Board Director, effective May 24th, 2024. The addition of Cross to the SiriusPoint Board brings the total number of members to 10. Cross is an industry veteran with over 40...
Posted: May 29, 2024
Ariel Green, a division of Ariel Re, has expanded the Lloyd’s Technology Performance Insurance (TPI) Consortium to protect clean energy technologies and projects. First launched in 2023 following Ariel Green’s rebranding, the Consortium has...
Posted: May 29, 2024
Specialty property insurer Palomar Holdings has announced the completion of its 2024 reinsurance renewal, raising the top of its tower to $3.06 billion for earthquake events, $735 million for Hawaii hurricane events, and $117.5 million for all con...
Posted: May 29, 2024
Prices are expected to start reducing in the medium term, which likely points towards reaching the end of a positive earnings upgrade cycle with the market entering a face where capital returns will possibly emerge, according to analysts. J.P. Mor...
Posted: May 29, 2024
hyperexponential, a UK-based pricing decision intelligence platform for re/insurers, has appointed Risa Ryan as Head of US P&C. According to the firm, this move represents a significant milestone after growing rapidly over the last few years....
Posted: May 29, 2024