Reinsurance News
The Florida Office of Insurance Regulation (OIR) has noted that it continues to see overall market stabilisation following the “historic” legislative reforms of 2022/2023 that have reportedly enhanced consumer protections, strengthened...
Posted: May 21, 2024
Munich Re Specialty – North America, part of the Munich Re Group, has hired industry veteran Claudia Carnevale as Head of US Programs. Based in New York, Carnevale brings over 25 years of industry expertise towards her new role. She joins th...
Posted: May 21, 2024
Insurance industry intermediary Specialist Risk Group (SRG) has announced its acquisition by Warburg Pincus and Temasek. This partnership with these investors aims to support SRG’s growth plans and strategy, with SRG’s management team retaining a...
Posted: May 21, 2024
Howden, the global insurance intermediary group, has launched a unique cyber insurance platform for SMEs that enables easier access cyber insurance by simplifying the process of purchasing cover. The platform is designed for businesses with revenu...
Posted: May 21, 2024
John Doucette, the former President and Chief Executive Officer (CEO) of Reinsurance at Bermuda-based Everest Group, has been appointed as the new CEO of Amynta Risk Solutions, effective May 2024. Amynta is an insurance services company that speci...
Posted: May 21, 2024
Atlantic Global Risk announces the placement of the first tax liability insurance policy for a significant transaction in the carbon capture and sequestration (CCS) sector. Following the enactment of the Inflation Reduction Act, the owner of a lar...
Posted: May 21, 2024
Generali has revealed that in Q1 of 2024, its gross written premiums (GWP) increased 21.4% from the previous year to €26.4 billion, driven by strong performances in both the Life and P&C segments. Broken down, GWP in the Life segment in Q1 of...
Posted: May 21, 2024
Global broker WTW, has appointed two new members to the Strategic Client Engagement Leadership (SCEL) team, Chad Wright and Conor McLaughlin. Wright will serve as a Strategic Client Engagement Leader while McLaughlin will take over the role of Glo...
Posted: May 21, 2024
The International Underwriting Association (IUA) welcomes the professional indemnity insurance reforms for accountants in the UK proposed by The Institute of Chartered Accountants in England and Wales (ICAEW) Regulatory Board, the organisation rec...
Posted: May 21, 2024
Arif Amiri, CEO of the Dubai International Financial Centre (DIFC) Authority, provides insights into the reinsurance industry. From the expanding opportunities in the MEASA region to the emergence of Managing General Agents (MGAs), Amiri explores...
Posted: May 21, 2024
Duck Creek Technologies, a provider of SaaS-delivered software to the property and casualty (P&C) arena, has announced the appointment of Bindu Crandall as Chief Marketing Officer (CMO). In her new role, Crandall will be responsible for overse...
Posted: May 21, 2024
Origami Risk, the risk, safety, and insurance Software as a Service (SaaS) technology firm, in its third annual State of Risk report, has disclosed the trend in deprioritisation of core risk management activities due to the increased optimism amon...
Posted: May 21, 2024
Global reinsurance giant Munich Re has indicated that the 2024 hurricane season in the North Atlantic is expected to be highly active, as current forecasts are suggesting that the number of tropical cyclones could be “significantly higher th...
Posted: May 20, 2024
Ageas has announced that it has finalised an agreement with China Taiping Insurance Holdings (CITH), in order to subscribe to the capital increase of its wholly controlled subsidiary Taiping Pension Co., Ltd (TPP) for a total consideration of RMB...
Posted: May 20, 2024
Today, a prominent provider of daily Earth data and insights, Planet Labs PBC, announced a contract renewal with ZEP-RE, an African reinsurance firm headquartered in Nairobi, Kenya. This renewed collaboration builds on a successful first year of p...
Posted: May 20, 2024
National multi-line managing general agent (MGA), Paragon Insurance Holdings LLC, has entered into a partnership with Ascot Group, which is set to leverage both of the organisations strengths and capacities. In its first program partnership, Ascot...
Posted: May 20, 2024
The increasing frequency of climate-related events in the US is driving up insurance premiums in certain areas, but it’s unclear how this affects home prices and affordability, prompting the need for further analysis, according to analysts a...
Posted: May 20, 2024
Howden has acquired MiCRO, a microinsurance specialist that designs and implements parametric insurance coverage for underserved populations in Latin America against natural catastrophes. MiCRO was founded by Mercy Corps and Fonkoze in the afterma...
Posted: May 20, 2024
Bermuda-based specialty re/insurer Sompo International Holdings has reported that the financial year 2023 combined ratio for commercial property & casualty (P&C) improved to 91.8% from 92.5%, driven by improved accident year loss ratios an...
Posted: May 20, 2024
Laura Brahams ascends to Head of Third-Party Claims at Arch Insurance International following Barbara Rizzi’s elevation to Chief Claims Officer. Taking on her new position, Brahams will oversee various sectors including casualty, cyber, financial...
Posted: May 20, 2024
MS Amlin has reported a 2023 net income of £509 million, marking an increase of £316 million from 2022, while its combined ratio fell 7.6 points to 89.5%. The firm noted that its improved net income in 2023 also included the positive impact of £75...
Posted: May 20, 2024
Ocean International Reinsurance Company Ltd. (Ocean Re) has appointed Neil Bramley as the Global Head of Treaty Underwriting, based out of London. Bramley is a market veteran with over 24 years of experience. Prior to this role, he served as a Spe...
Posted: May 20, 2024
Tokio Marine Holdings’ international business has reported a 99.8% increase in profits for 2023, at JPY 436.9 billion, which the company attributes towards a strong underwriting result, as well as investment income, and the reversal of the i...
Posted: May 20, 2024
Brokerslink has appointed Alexandra Littlejohn, the Executive Vice President and Managing Director at Alliant Retail Property & Casualty, to its Board of Directors. Littlejohn replaces Jamie Crystal as Alliant’s nominated member on the Brokers...
Posted: May 20, 2024
With Beazley securing an additional $160 million of reinsurance with its second 144A cyber catastrophe bond, PoleStar Re Ltd. (Series 2024-2), as we reported last Friday, Theo Norris, Head of Cyber ILS, Gallagher Securities, has said that there is...
Posted: May 20, 2024