Reinsurance News
The recent severe weather events in South Africa’s Southern and Eastern regions since June 1 continue to test insurers’ ability to adapt to climate change, according to S&P Global Ratings. Heavy rainfall and flooding in parts of the East...
Posted: Jun 07, 2024
Chubb, a global property and casualty insurance company, has announced the appointment of David Kirk as Division President of Chubb Global Markets, which encompasses the company’s London Market wholesale and specialty business, including its...
Posted: Jun 07, 2024
Private equity firm NexPhase has invested in Insurance Systems Inc. (ISI), a Canada-based provider of enterprise software solutions to the P&C insurance industry, to support the company’s continued growth in its existing markets. The investmen...
Posted: Jun 07, 2024
The U.S. property & casualty (P&C) industry recorded a $9.3 billion net underwriting gain in the first quarter of 2024, marking a substantial improvement from the $8.5 billion loss recorded in the prior year period, according to global rat...
Posted: Jun 07, 2024
The Geneva Association has revealed that Lee Yuan Siong, Group Chief Executive and President of AIA, was appointed Chairman of the organisation at its spring 2024 board meeting on 5 June, succeeding outgoing Chairman Christian Mumenthaler, CEO of...
Posted: Jun 07, 2024
Guidewire, a platform provider for property and casualty (P&C) re/insurers, has made a considerable investment towards a $19 million funding round for Indico Data, a firm which automates critical workflows for enterprises in document-intensive...
Posted: Jun 07, 2024
Helios has revealed that Martin Reith has stepped down from his role as Chief Executive Officer. Michael Wade, currently Non-Executive Chairman, will immediately become Executive Chairman as the search for Reith’s successor begins. Meanwhile...
Posted: Jun 07, 2024
Lockton Re, the reinsurance arm of independent insurance broker, Lockton, has appointed James Mackay in a new role as the Head of Lloyd’s Capital, based in London. Robert Bisset, Chairman of Global Retrocession & Property Specialty, Bermuda, a...
Posted: Jun 07, 2024
The SME broking platform of The Ardonagh Group, Ardonagh Advisory, has acquired BP Insurance Brokers (BPIB), a provider of commercial and personal insurance services based the UK. Ardonagh Advisory includes brands such as Bravo Networks, Footman J...
Posted: Jun 07, 2024
As part of the recently announced insurance underwriting operations reorganization in the Americas, which aligned its three business segments under Large Commercial, Mid-Market and Professional, AXA XL, the property & casualty (P&C) and sp...
Posted: Jun 07, 2024
Global reinsurance broker Gallagher Re has appointed April Engelman as its Chief Operating Officer (COO) for the North American region, effective immediately. She replaces Mark Hansen, who was recently promoted to Gallagher Re’s Chief Operat...
Posted: Jun 07, 2024
Vienna Insurance Group (VIG) has launched a comprehensive Cyber Defence Center programme (CDC) to enhance protection against the growing threat of cyberattacks. This initiative receives financial support from the European Union through the Europea...
Posted: Jun 07, 2024
Howden, the global insurance intermediary group, has selected software provider AutoRek to boost the efficiency of key back-office processes through intelligent automation. According to the announcement, this new partnership is anticipated to help...
Posted: Jun 07, 2024
Euclid Transactional, a managing general agent (MGA) specialising in transactional insurance underwriting and claims handling, has announced that CNA has joined its North American transactional insurance program. CNA has been part of Euclid Transa...
Posted: Jun 07, 2024
Continuity, a “pioneer” in leveraging artificial intelligence and external data for professional and commercial P&C insurers, has raised €10 million Series A funding round to boost enterprise insurance with artificial intelligence-driven risk...
Posted: Jun 07, 2024
Insurance brokerage Lockton has appointed Paul Jones as the leader of Parametric Solutions for the UK & Europe in its Property & Casualty (P&C) Specialties division. Jones commented: “I am thrilled to be joining Lockton to develop its...
Posted: Jun 07, 2024
Emerald Bay Risk Solutions, the collaborative underwriting carrier, has entered into a strategic partnership with Arrowhead to launch a commercial earthquake facility named Arrowhead EQ DIC, that will provide difference in conditions (DIC) insuran...
Posted: Jun 06, 2024
Ascot, a Bermuda-based global specialty insurance company, has appointed Ian Thompson as Chief Executive Officer and Director of Ascot Underwriting Limited (AUL) and Justin Keith as President and Chief Executive Officer of Ascot Bermuda Limited. T...
Posted: Jun 06, 2024
Following the PRA’s publication of PS10/24, the final set of rules for the UK version of Solvency II, Huw Evans, Head of Insurance at KPMG UK, has underlined several improvements that will reportedly work better for the UK than the original...
Posted: Jun 06, 2024
CFC, a specialist insurance provider, has updated its cyber risk heat map to offer more detailed insights into key exposures across various industry sectors such as construction, education, healthcare, transport, and logistics. Drawing from CFCs o...
Posted: Jun 06, 2024
Chicago-domiciled insurer, CNA Financial Corporation, has promoted Doug Worman, currently the Executive Vice President & Global Head of Underwriting to President and Chief Executive Officer (CEO), effective January 1, 2025. Simultaneously, Din...
Posted: Jun 06, 2024
Flood Re, the joint initiative between the UK Government and the insurance industry, has announced its Chief Executive Officer, Andy Bord, will step down at its Annual General Meeting (AGM) in July 2024. The Board has appointed Stuart Logue, the c...
Posted: Jun 06, 2024
Sirion, an AI-native contract lifecycle management (CLM) company, has acquired Eigen Technologies, a specialist in Document AI for insurance and financial services that has pioneered data extraction and AI governance. The company has been using ar...
Posted: Jun 06, 2024
Gallagher Specialty has launched a new carbon insurance solutions service for its clients which will reportedly enable them to mitigate risks associated with de-carbonisation initiatives. Gallagher Specialty observed that companies are now seeking...
Posted: Jun 06, 2024
The Association of Bermuda Insurers and Reinsurers (ABIR), which represents the public policy interests of Bermuda’s re/insurers, has announced the appointment of Collin Anderson as Director of Policy and Regulation, starting July 1. With 23 years...
Posted: Jun 06, 2024