Reinsurance News
A new report from Global Insurance Law Connect (GILC) showcases that natural disasters linked to climate change, cyber security, artificial intelligence (AI) and regulations related to consumer protection are the “biggest challenges” f...
Posted: May 23, 2024
Global insurance and reinsurance broking group, Aon, has named Wen Chen as the Head of Agriculture for the firm’s Reinsurance Solutions Asia Pacific (APAC) region, effective June 1st, 2024. Chen will be based in Singapore and will have a dual repo...
Posted: May 23, 2024
Consilium, the global speciality re/insurance broking arm of the Aventum Group, has introduced its new Marine division and appointed Thomas Noakes as Senior Partner. The division will grant comprehensive access to top-rated carriers in the Lloyd’s...
Posted: May 23, 2024
Global re/insurance company Fidelis Insurance Group has announced the appointment of Aoife Woulfe to the role of Head of Underwriting, Ireland. She will be based in Dublin and report to Group Chief Underwriting Officer, Ian Houston. Woulfe joins F...
Posted: May 23, 2024
In their results for the first quarter of 2024, Aviva has posted general insurance premiums of £2.7 billion, representing an increase of 16% from the prior year quarter. Growth was heavily driven by both the UK & Ireland and Canada, with stron...
Posted: May 23, 2024
Super-regional property and casualty insurance holding company, Heritage Insurance Holdings, has announced a 3.3% rate decrease approval by the Florida Office of Insurance Regulation for its Florida homeowner’s (HO3) business. This rate redu...
Posted: May 23, 2024
Bowhead Specialty, a provider of casualty and professional liability products, has revealed the pricing of its upsized initial public offering (IPO) of 7,529,412 shares of its common stock at a public offering price of $17.00 per share. Earlier th...
Posted: May 23, 2024
Global re/insurance broker WTW has appointed Alex Rosati as the Head of Claims Asia for its Corporate Risk & Broking (CRB) business, effective August 1st, 2024. Rosati will succeed Neil Thomas who retired earlier this year. Rosati will be base...
Posted: May 23, 2024
Gallagher Re Japan has revealed significant senior leadership changes, naming George Sherriff as the new CEO, while Tsuyoshi “Travis” Noguchi has been appointed Chairman. Currently leading the Global Client proposition across Asia Pacific from Sin...
Posted: May 23, 2024
As per analysts from KBW, most of the re/insurance executives that the firm met in this week’s Bermuda Tour expect the Florida-heavy June 1 property catastrophe reinsurance renewals to reflect overall y/y risk-adjusted rate changes in the “flat to...
Posted: May 23, 2024
Catastrophe bond and related insurance-linked securities (ILS) issuance has already broken the first-half year record at $10.9 billion, beating the previous high set in H1 2023 by around $600 million, with June issuance still to complete and add t...
Posted: May 23, 2024
Bermuda-domiciled, tech-driven insurance management and reinsurance transform organisation, Nascent Group, has added two industry veterans, Yulanda Francis and Shehan Ranasinghe, to its senior leadership team. These strategic hires are aligned wit...
Posted: May 23, 2024
Gordon Browne has been appointed Global Head of Specialty at American International Group (AIG), effective June 11, 2024, reporting to Jon Hancock, Executive Vice President and Chief Executive Officer, International Insurance. He will also serve o...
Posted: May 23, 2024
The Pacific Catastrophe Risk Insurance Company (PCRIC) alongside broker WTW have designed a parametric insurance policy to help protect PNG DataCo., a Papua New Guinea (PNG) operator, from the financial impact of earthquake damage. The parametric...
Posted: May 23, 2024
The International Underwriting Association has expressed approval for a recent decision to halt proposed alterations in the Financial Services Compensation Scheme (FSCS). The Prudential Regulation Authority (PRA) had entertained the idea of expand...
Posted: May 23, 2024
Munich Re Automation Solutions Ltd, a provider of automated underwriting and analytics solutions to the life insurance industry, has announced that its SARA risk assessment solution is now live with Brazilian life insurance firm, MAG Mongeral Aego...
Posted: May 23, 2024
Juan Pujadas, an advisor at Blumberg Capital where he supports fintech portfolio companies such as EarnUp and Field Materials, has joined Arturo’s Board of Directors. He also collaborates with Cherre, Inc., and Mesmerise Solutions. “I am hon...
Posted: May 23, 2024
The staff of the Texas Windstorm Insurance Association (TWIA) plan to recommend that lawmakers consider new ways to reduce the insurer of last resort’s future reinsurance purchases following its largest reinsurance purchase on record in 2024...
Posted: May 22, 2024
Bermuda-domiciled life and annuity reinsurance company Martello Re is deliberating on raising at least $800 million of new equity, as per a new report from Bloomberg. Citing people with knowledge of the matter, Bloomberg’s report noted that...
Posted: May 22, 2024
Global credit ratings agency AM Best is maintaining a positive outlook on the delegated underwriting authority enterprise (DUAE) market, citing sustained global growth and momentum, as well as the market’s ability to cater to underserved and...
Posted: May 22, 2024
Allianz UK has announced the promotion of Jason Howes to Chief Transformation Officer and the appointment of Hanna Kam to the role of Chief Risk Officer, taking over the role from John Berry, who has decided to step down. According to the announce...
Posted: May 22, 2024
Full-stack homeowners insurtech, Slide Insurance, has completed its $1.86 billion reinsurance program for the upcoming 2024 Atlantic hurricane season, reinforcing its ability to protect homeowners across Florida and South Carolina. According to Sl...
Posted: May 22, 2024
Lloyd’s syndicate AEGIS London has launched a new digital product offering aimed at US-based private property owners for wind deductible buy-back. For those unaware, wind deductible buy-backs are purchased by clients to lower deductibles for wind...
Posted: May 22, 2024
A new AM Best report indicates that rising interest rates in 2023 increased the portfolio yields of US life/annuity insurers by nearly 30 basis points, from 4.47% to 4.74%. The Best’s Special Report, “US Life/Annuity Investment Portfolio Yields Re...
Posted: May 22, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has announced the appointment of Robert Riha as Chief Client & Distribution Officer for APAC & Europe. Riha will now report to Xavier Veyry, t...
Posted: May 22, 2024