Reinsurance News
Lockton Caribbean & Central America (CCA) has launched the region’s first Food, Agriculture & Beverage (CCA FAB) insurance broking practice. The new Food, Agriculture & Beverage practice within Lockton CCA, the Miami-based wholesale re...
Posted: May 22, 2024
Legal & General Assurance Society Limited has completed an approximately £900 million buy-in with the ICI Pension Fund, securing the benefits of over 7,000 retirees. This announcement marks the 12th transaction since the ICI Pension entered in...
Posted: May 22, 2024
Risk Strategies, an international specialty insurance brokerage and risk management firm, has announced its acquisition of Silveus Insurance Group (Silveus), the largest independent crop insurance broker in the United States. Silveus is widely kno...
Posted: May 22, 2024
Global credit ratings agency AM Best has confirmed that it is maintaining its negative outlook on France’s non-life insurance segment, citing a number of factors, such as: modest real top-line growth on an inflation-adjusted basis, inflation impac...
Posted: May 22, 2024
Against the backdrop of ongoing global instability, companies intensify their focus on risk management, adapting strategies to navigate evolving threats, reports insurance and reinsurance broker WTW. Following a year in which nearly a fifth of com...
Posted: May 22, 2024
Specialty insurer Beazley has announced the appointment of Barbara Plucnar Jensen to its Board as Chief Financial Officer (CFO). Adrian Cox, Beazley’s CEO, previously mentioned this during the firm’s full-year results, stating, “I am p...
Posted: May 22, 2024
German reinsurer The Deutsche Rück Group expanded its business in 2023 with gross premium income increasing by 16.8% to just under €1.8 billion, while net premiums earned were up 18.3% at €1.2 billion. This strong growth was supported by both inte...
Posted: May 22, 2024
NormanMax Insurance Holdings, the US-based parametric re/insurance group, has launched Syndicate 3939, managed by insurance group Apollo. NormanMax Syndicate 3939 has reportedly commenced underwriting and will offer global parametric re/insurance...
Posted: May 22, 2024
Distinguished Programs, a US insurance program manager, has partnered with specialty re/insurer SiriusPoint for its Inland Marine insurance program. The new program, to be led by Eric Michel will offer tailored coverage for a focused segment of In...
Posted: May 22, 2024
Zurich-based catastrophe insurance data provider PERILS AG has released its final insurance market loss estimate for the floods in the Emilia-Romagna region of Italy during May 2023, lowering the figure slightly to €495 million. This final figure...
Posted: May 22, 2024
Global re/insurance broker Aon has appointed Ryan Barber as the Global Head of Property for Commercial Risk, effective June 24th, 2024, to further advance the firm’s Risk Capital strategy. In this new role, Barber’s remit will include leadin...
Posted: May 22, 2024
Bayview Asset Management (Bayview), a global investment management firm, has announced the appointment of Craig T. Schorr as Managing Director in its newly formed Insurance Asset Management division. This division was established to offer manageme...
Posted: May 22, 2024
Global multi-line reinsurer Fortitude Re has appointed Carla Albertze as Senior Vice President (SVP), Head of Internal Audit. In her new role, Albertze will lead the firm’s Internal Audit Team to ensure the strength, effectiveness and effici...
Posted: May 22, 2024
Motor insurance rate increases are anticipated to decelerate soon, driven mainly by disinflation, improved underwriting performance, and increased competition, this in turn should lower the cost of car insurance for consumers, according to the Swi...
Posted: May 22, 2024
Adam Waterstreet, equipped with vast insurance claims expertise, takes on the role of Claims Relationship Manager, effective immediately, as announced by Arch Insurance UK Regional Division. In his new position, Waterstreet assumes responsibility...
Posted: May 22, 2024
RSA Insurance and specialist managing general agent (MGA) Q Underwriting have partnered to launch a new Management Liability product, aimed at private limited companies and limited liability partnerships. Management Liability insurance protects di...
Posted: May 21, 2024
RT Specialty, the wholesale distribution division of Ryan Specialty, has promoted Rob Polansky to President of Field Operations Binding Authority. Polansky has operated in the insurance industry for over three and a half decades, holding senior po...
Posted: May 21, 2024
Coastal Insurance Underwriters (CIU), the program administrator that specialises in designing, creating, and managing insurance products for a variety of business classes, has announced a new carrier partnership with Superior Specialty Insurance C...
Posted: May 21, 2024
Open Lending Corporation, a key player in automotive lending enablement and risk analytics solutions, has partnered with Core Specialty Insurance Holdings, Inc. This partnership aims to enable Core Specialty to provide credit default insurance pol...
Posted: May 21, 2024
Kate Della Mora to head CFC Canada as CEO, a new role that was created as the company launched its first office on the ground in Toronto. CFC has launched its first office in Canada with the ambition of building a team of business development prof...
Posted: May 21, 2024
Independent insurance broker Lockton has appointed Jessica Cullen to lead its US Casualty practice in London, effective immediately. She will be relocating from New York, and her remit will include being responsible for leading the practice with r...
Posted: May 21, 2024
The Fidelis Partnership, formerly known as Fidelis MGU, has announced plans to open an office in Abu Dhabi, underscoring its commitment to expanding into new markets and reaching new clients and investors. The Abu Dhabi office will be led by Matth...
Posted: May 21, 2024
The Insurance Council of Australia (ICA) has appointed Andrew Gill as the Chief Executive Officer (CEO) of its new counter fraud and scams function. This newly established unit will focus on detecting organised fraud networks and identifying emerg...
Posted: May 21, 2024
French reinsurer SCOR aims to achieve a reduction of 23% in the intensity of its greenhouse gases (GHG) emissions by 2030 versus the end of 2022, CEO Thierry Léger announced during the Group’s General Meeting. This is the reinsurer’s first interim...
Posted: May 21, 2024
Zurich Insurance in Switzerland and cyber insurtech BOXX have partnered to introduce a breakthrough personal cyber product designed to help individuals and families better predict and prevent potential scams and digital threats. This collaboration...
Posted: May 21, 2024