Reinsurance News
As per a new report from Reuters, former U.S. Secretary of State Hillary Clinton has called for a reform of the insurance sector at COP28, citing the unavailability of coverage amid a new wave of climate shocks. Speaking during a panel on women an...
Posted: Dec 04, 2023
Core Specialty Insurance Holdings, Inc. and its subsidiaries has completed its acquisition of the MGU/Stop-Loss business of American National Group (ANAT). The acquisition was previously announced in June earlier this year. As a result, this acqu...
Posted: Dec 04, 2023
Singapore-based insurtech Igloo has successfully raised US$36 million in a Pre-Series C funding round led by Eurazeo, through its insurtech fund backed by the insurer BNP Paribas Cardif, and with participation from Openspace’s OSV+, and returning...
Posted: Dec 04, 2023
Zurich-based catastrophe insurance data provider PERILS has disclosed an initial industry loss estimate of €509 million for the Babet-Aline floods and storms over the British Isles and northwestern Europe in October 2023. In line with the PERILS c...
Posted: Dec 04, 2023
Bermuda-domiciled re/insurer Fidelis Insurance Holdings Limited has announced the appointment of Miranda Hunter as Head of Investor Relations. Hunter brings to her new role over 15 years of re/insurance and financial industry experience, having he...
Posted: Dec 04, 2023
Beat Capital Partners, a prominent long-duration investor specialising in the insurance industry, has unveiled its latest venture, RedRiff Agency Limited. RedRiff will function as a dedicated Accident & Health (A&H) underwriter, offering c...
Posted: Dec 04, 2023
Lombard US/BDA, the US and Bermuda business has appointed Hon. Tom Considine as Chairman of the Board and Michael Farrell as Chief Executive Officer. The appointment followed the recent acquisition of the specialist life and annuity focused re/ins...
Posted: Dec 04, 2023
The insurance arm of Markel Group Inc., Markel, has appointed Isaac Meek as a Cyber Senior Underwriter to lead its cyber portfolio development in the Middle East and North Africa region. Meek will be based out of Markel’s Dubai office, repor...
Posted: Dec 04, 2023
Aon plc, the global insurance and reinsurance broker, has promoted Alison Clarke as Head of Renewables for its Global Broking Centre (GBC) & UK. In her new role, Clarke will report to Jon Wiegand, Head of Power, GBC. Clarke’s remit will...
Posted: Dec 04, 2023
According to Fitch Ratings, the London and UK company markets will be bolstered in 2024 by easing inflationary pressures, pricing conditions remaining strong, as well as favourable reinvestment yields. The agency has revised it’s sector outl...
Posted: Dec 04, 2023
Speaking at Lloyd’s Q4 2023 Market Message, Patrick Tiernan, Chief of Markets, explained that cyber underwriting will remain a key clear focus class of growth for 2024. Tiernan stated that for 2024, plan GDP growth is shy of 20%, which remai...
Posted: Dec 04, 2023
Aspen, the Bermuda headquartered global specialty insurance and reinsurance company, is reportedly opting for New York as a venue for an initial public offering (IPO), rather than London, according to the Financial Times. It’s been reported...
Posted: Dec 04, 2023
Insurity, a provider of cloud-based software and analytics for insurance carriers, brokers, and MGAs, announced that insurers leveraging Insurity’s AI have reported an astounding 75% reduction in average support time. Insurity’s cloud-native...
Posted: Dec 04, 2023
Specialist insurer Beazley has selected Decision Research Corporation (DRC), a provider of enterprise software solutions for the Property and Casualty insurance industry, to help power its next generation of pricing tools. To do so, the London-bas...
Posted: Dec 04, 2023
Bermuda has stated its ambition of becoming the world’s “climate risk capital”, from its existing position as the underwriting hub of one third of the world’s climate catastrophe insurance. The Government of Bermuda shared this stateme...
Posted: Dec 01, 2023
Hanna Norumhas has been appointed as the General Representative for Norway, by Lloyd’s Insurance Company S.A. (Lloyd’s Europe). This appointment follows the retirement of Espen Komnaes, and is effective starting December 1st 2023. Most recently, N...
Posted: Dec 01, 2023
BroadRiver Asset Management, L.P. has successfully concluded its acquisition of the US and Bermuda businesses of Lombard International Group. Andrew Plevin, Co-Founder and Co-CEO of BroadRiver, expressed enthusiasm about the transaction, stating,...
Posted: Dec 01, 2023
Aon has approved Embrace Partners, a minority-owned insurance broker and managing general underwriter (MGU), to act as a wholesale broker in the US. With this move, Aon brokers, at its clients’ direction, can now begin placing insurance thro...
Posted: Dec 01, 2023
In the face of escalating environmental challenges, Singapore has emerged as the highest-ranked global Asian city for overall resilience, securing the 4th position out of 25 major cities worldwide, according to The Resilient Cities Index 2023 laun...
Posted: Dec 01, 2023
US 10-year Treasury yields are expected to average 4.2% over the long term, according to the Swiss Re Institute, a figure 40 basis points above its previous forecast. Long-dated US Treasury bonds have sold off sharply this autumn, surprising many...
Posted: Dec 01, 2023
American International Group (AIG) has announced it will sell off another 35 million existing shares of common stock at $20.50 per share, as it continues to raise funds from the retirement services company while remaining the major shareholder. Ac...
Posted: Dec 01, 2023
In a recent analysis by RBC Capital Markets, the UK life insurance industry is poised for a remarkable year in 2023, with projected volumes reaching approximately £50 billion, surpassing the previous record of £45 billion in 2019. This surge is at...
Posted: Dec 01, 2023
HCI Group, Inc. announced its sponsored reciprocal insurer, Condo Owners Reciprocal Exchange (CORE), obtains a certificate of authority from Florida regulators, allowing it to transact insurance in the state. The Florida-based holding company, wit...
Posted: Dec 01, 2023
International specialty insurance firm, Ryan Specialty, has appointed Thomas Nash as President of CorRisk Solutions, effective December 1st, 2023. CorRisk is the wholesale distribution professional liability managing general underwriter, a part of...
Posted: Dec 01, 2023
Global credit ratings agency AM Best has confirmed that it is maintaining a stable outlook on Vietnam’s non-life insurance segment. The agency cities premium growth and regulatory enhancements that strengthen risk management and corporate governan...
Posted: Dec 01, 2023