Reinsurance News
Global insurance and reinsurance broker Aon has announced the successful renewal and expansion of Aon Client Treaty (ACT), the firm’s flagship London Market placement facility. According to the announcement, in 2024, ACT will offer 22.5% co-...
Posted: Dec 11, 2023
Duck Creek Technologies has appointed Barbara Bufkin and Diane Fanelli to its board of directors. Duck Creek describes Bufkin as a C-suite executive leader with vast experience in the insurance and reinsurance industry, having previously served in...
Posted: Dec 11, 2023
Global private equity firm Permira, has announced that a company backed by the Permira funds has agreed to acquire GGW Group, an European insurance brokerage platform for small and medium-sized enterprises. According to the announcement, the Permi...
Posted: Dec 11, 2023
Ernst & Young LLP (EY US) has forged an alliance with Moody’s Analytics, Inc, which combines EY’s consulting services with Moody’s financial intelligence and analytical tools. The EY-Moody’s Alliance provides clients wi...
Posted: Dec 11, 2023
Marsh, a global insurance broker and risk advisor, has partnered with specialist insurer Beazley to incentivise environmental, social, and governance (ESG) excellence in the construction sector. The collaboration offers construction contractors ac...
Posted: Dec 11, 2023
Manulife Financial Corporation has agreed to reinsure a combined $13 billion of reserves across four legacy/low ROE blocks to Global Atlantic and its partners. As per Manulife, the blocks include portions of U.S. LTC, U.S. structured settlements,...
Posted: Dec 11, 2023
French reinsurance company CCR Re has appointed Vito Gattuso as a Credit & Surety Underwriter. According to the announcement, Gattuso’s addition strengthen the Specialities & Global Risk team within CCR Re’s Underwriting Department. He joi...
Posted: Dec 11, 2023
Lloyd’s focused investment vehicle Helios Underwriting has announced its pro-forma Net Asset Value (NAV) per share as at September 30, 2023, has increased 17%, to £1.76. Martin Reith, Helios’ Chief Executive Officer, commented: “Helios’...
Posted: Dec 11, 2023
Global insurance brokerage WTW has appointed Rupert Roberts as Head of Corporate Risk and Broking (CRB) for Southeast Asia, and Christine Lau as Head of CRB Singapore. Both appointments are effective January 2nd, 2024. Luke Ware, Head of CRB Asia,...
Posted: Dec 11, 2023
Miller has announced that GIC, a global institutional investor, and Cinven, an international private equity firm, have reached an agreement for GIC to acquire Cinven’s shares in Miller, “securing its long-term independent future as a leading...
Posted: Dec 11, 2023
Allianz has announced that it has developed a machine learning tool called ‘Incognito’ that is set to tackle growing fraud claims. Experts across the Allianz UK business have collaborated in developing and building the machine-learning tool. From...
Posted: Dec 11, 2023
The U.S. Chamber of Commerce’s U.S.-Korea Business Council (USKBC) has announced that Evan G. Greenberg, Chairman and CEO of global insurer Chubb, has been elected Chairman of the USKBC, effective January 1, 2024. The USKBC, comprised of leading U...
Posted: Dec 11, 2023
Ardonagh Advisory has acquired insurance technology and risk management services company RiskSTOP. Based Poundbury, Dorchester, RiskSTOP was founded in 2000, and provides risk management surveys and ancillary services to the UK insurer and broking...
Posted: Dec 11, 2023
Bermuda-based insurer and reinsurer, Aspen Insurance Holdings Limited, has confirmed that it is mulling an initial public offering (IPO) of its ordinary shares in 2024, subject to satisfactory market conditions. The announcement from Aspen confirm...
Posted: Dec 11, 2023
QBE Re, the reinsurance arm of QBE Insurance Group, has appointed Ashish Ahluwalia as its new Global Head of Performance and Portfolio Analytics. In this new role, Ahluwalia will act as a strategic advisor to support portfolio construction and cap...
Posted: Dec 11, 2023
The London & International Insurance Brokers’ Association (LIIBA) has appointed Gina Butterworth, Chief Operating Officer of Gallagher Re UK, Margarita Hutley, Director, Iris Insurance Brokers, and Holly Shepherd, Managing Director of Shepherd...
Posted: Dec 11, 2023
Clearwater Analytics, a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, has released its 2024 Hong Kong & Singapore Insurance Industry Outlook report highlighting several key trends and ins...
Posted: Dec 11, 2023
According to the Insurance Information Institute (Triple-I), the potential insured losses resulting from US wildfires are growing even as their frequency decreases because close to 99 million Americans reside in the wildland urban interface (WUI)....
Posted: Dec 11, 2023
The Association of British Insurers (ABI) has announced the appointment of three new members to its Board, including Amanda Blanc, Group CEO of Aviva, with immediate effect. Alongside Blanc, Clive Bolton, CEO, M&G Life Insurance, and Tara Fole...
Posted: Dec 11, 2023
Guidewire Software, a platform provider for property and casualty re/insurers, has reported a net loss of $27.1 million for the first quarter of fiscal year 2024, compared with $69.3 million for the same period in the previous fiscal year. Similar...
Posted: Dec 11, 2023
The U.S. property/casualty (P/C) insurance sector grappled with a challenging nine-month period in 2023, posting a staggering $32.2 billion net underwriting loss, according to a report by AM Best. This represents a $7.6 billion deterioration compa...
Posted: Dec 08, 2023
Lloyd’s global re/insurer MS Amlin has appointed Clare Constable to the newly created role of Chief Claims Officer, reporting to Andrew Carrier, Chief Executive Officer (CEO). The appointment is effective from January 1st, 2024, subject to regulat...
Posted: Dec 08, 2023
Announced by Andrew Mitchell, International Development and Africa Minister at COP28, the almost £20 million funding package is part of a £100 million pledge made by the UK government at the annual climate conference in Dubai. The £100 million in...
Posted: Dec 08, 2023
AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Korean Reinsurance Company...
Posted: Dec 08, 2023
According to a recent report by Moody’s, the Property & Casualty (P&C) insurance sector is witnessing a shift as primary insurers retain more risk following the raising of attachment points by reinsurers looking to reduce frequency l...
Posted: Dec 08, 2023