Reinsurance News
Florida-based insurtech HCI Group has increased its reinsurance coverage across both its reinsurance towers, securing over $2.7 billion in aggregate limit at the June 1 renewal. Similar to the previous year, HCI established two reinsurance towers...
Posted: May 31, 2024
Howden Re (formerly Howden Tiger), the reinsurance broking arm of Howden Group Holdings, has appointed reinsurance industry veteran, David Hearn, as Chairman of Global Clients Strategy. In his new role, Hearn’s remit will include supporting the le...
Posted: May 31, 2024
MGA iprism, a specialist in construction, property, commercial and high net worth, has appointed Victoria Blanche as Private Clients Manager to lead its team of mid-high net worth underwriters. In this new role, Blanche’s remit will include...
Posted: May 31, 2024
A new commentary released by Morningstar DBRS, highlights that liquidity risk in the insurance industry is gaining more attention because of the growing use of private assets. Historically, liquidity risk has typically received far less attention...
Posted: May 31, 2024
AdvantageGo, a commercial re/insurance software provider and part of Coforge, has announced a strategic alliance with Relativity6, an artificial intelligence (AI) powered industry classification provider. For those who are not aware, Relativity6 a...
Posted: May 31, 2024
Lee Moung-mo has been appointed Executive Director, General Business, and Marty Lui Yu-kwok as Executive Director, Long Term Business of the Insurance Authority (IA),the insurance regulator of all authorised insurance companies and licensed insura...
Posted: May 31, 2024
After a positive outcome at the January 1 reinsurance renewals and a very solid performance in the first quarter of 2024, we spoke with Conduit Re CEO, Trevor Carvey, about the evolution of the Bermuda-based reinsurer, market dynamics, and the imp...
Posted: May 30, 2024
Despite Florida-focused personal property insurers experiencing material volatility in their operating results and surplus levels in recent years, alongside a reinsurance dependency that “skews” higher than the broader overall property...
Posted: May 30, 2024
Bowhead Specialty, a provider of casualty and professional liability products, has deployed Kalepa’s Copilot underwriting platform to leverage its advanced AI for improved risk selection and enhanced customer service. Stephen Sills, CEO of Bowhead...
Posted: May 30, 2024
The need for innovative financing mechanisms for Africa’s farmers is becoming increasingly urgent as the continent faces challenges such as climate change, low productivity, and conflict, according to African Risk Capacity (ARC). At the 10th...
Posted: May 30, 2024
Moderated risk-adjusted property-catastrophe reinsurance pricing reflects shifting market dynamics at the June 1st reinsurance renewals, broker Howden Re has stated. According to Howden Re, risk-adjusted property-catastrophe reinsurance rates-on-l...
Posted: May 30, 2024
Reinsurance broker Gallagher Re has announced that Brian Flasinski will take over as Chief Executive Officer (CEO) of the North America region from June 1st, 2024, succeeding Jim Bradshaw. Gallagher Re announced Flasinski’s new role back in...
Posted: May 30, 2024
Marine insurer NorthStandard has reported that the cargo vessel collision and subsequent collapse of the Francis Scott Key Bridge outside Baltimore in March 2024 has the potential to impact the outlook of the International Group of P&I Clubs (...
Posted: May 30, 2024
Global insurance provider RSA Insurance has announced the appointment of Indhira Mani to the role of Chief Data Officer. Reporting to Ollie Holden, Chief Information Officer at RSA Insurance, Mani will play a key role in leveraging data as a diffe...
Posted: May 30, 2024
Industrial insurer HDI Global SE, part of the Talanx Group, has reported a first quarter 2024 combined ratio of 91.8%, an improvement of 1.4 percentage points year-over-year. The insurer’s insurance revenue rose by 13% in Q1 2024, or 14% aft...
Posted: May 30, 2024
The Global Federation of Insurance Associations has announced the election of a new Vice President, Stephen Frank, president and CEO of the Canadian Life and Health Insurance Association (CLHIA). Frank has worked in the financial services sector f...
Posted: May 30, 2024
Independent specialist insurance and reinsurance broker, Miller, has acquired Madrid-based commercial re/insurance broker Bruzon Correduría de Seguros y Reaseguros S.A. and Bruzon Services S.A. (Bruzon), subject to regulatory approval, with the de...
Posted: May 30, 2024
A new severe weather update from BMS shows that insurance losses have soared, surpassing $10 billion, and are projected to reach nearly $20 billion by the end of May, warns Andrew Siffert, Senior Meteorologist at BMS. Last month, BMS issued a warn...
Posted: May 30, 2024
Moody’s Ratings (Moody’s) has downgraded the insurance financial strength (IFS) rating of American Family Mutual Insurance Company from A1 to A2, assigning a stable outlook for the company and its subsidiaries. Additionally, Moody’s do...
Posted: May 30, 2024
Fitch Ratings has observed that reinsurance demand was strong at the midyear 2024 renewals, particularly for higher catastrophe layers, as Florida property writers are seeking more protection with insured values increasing from inflation and expos...
Posted: May 30, 2024
Frédéric de Courtois, Deputy Chief Executive Officer of AXA Group, has been elected President of Insurance Europe after receiving unanimous support. de Courtois succeeds Andreas Brandstetter, the Chairman & CEO of the UNIQA Insurance Group, to...
Posted: May 30, 2024
Gallagher Re has announced a new partnership with Colorado State University (CSU) to research tropical cyclone activity and trends, aiming to address challenges faced by the insurance and reinsurance industries and beyond. This partnership will al...
Posted: May 30, 2024
In its full year 2023 financial results, Helios Underwriting has revealed it achieved a total comprehensive profit of £29.9 million, up from a loss of £0.1 million in 2022, while its capacity portfolio combined ratio improved to 86%. Helios explai...
Posted: May 30, 2024
Digital processes are increasingly integrated into the insurance customer journey, with more than half of leading UK insurers implementing AI chatbots to streamline customer operations, according to Altus Consulting’s ‘Digital Bar’ report. The rep...
Posted: May 30, 2024
Specialist data analytics solutions provider, Optalitix has partnered with British terrorism reinsurer Pool Re to implement a new, end-to-end treaty and claims management system with full auditability and enhanced reporting. Pool Re is the insuran...
Posted: May 30, 2024