Reinsurance News
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
Rothesay, a prominent UK pensions insurance specialist, has successfully executed a £2.7 billion transaction to insure all liabilities of the Thales UK Pension Scheme. This comprehensive deal covers over 16,000 members, including 10,512 pensioners...
Posted: Dec 01, 2023
Genpact, a global professional services firm, is collaborating with Amazon Web Services (AWS) and Amazon Business to introduce a transformed approach to property loss replacement and claims management. The aim is for Genpact to use its claims mana...
Posted: Dec 01, 2023
Global insurer, American International Group, Inc. has named Rose Marie Glazer as the General Counsel, effective immediately. Glazer served as Interim General Counsel since October 1, 2023, overseeing AIG’s legal, compliance, regulatory and govern...
Posted: Dec 01, 2023
Markel, the insurance operations segment within Markel Group Inc., revealed that Bob Cox, President and Chief Operating Officer, Global Insurance Operations, will be stepping down from his role on December 31. Cox has played a pivotal role over th...
Posted: Dec 01, 2023
Technology has helped make health insurance more accessible, but there are still challenges to overcome, such as its quality, access to it, and its democratisation, Niti Pall, Board Chair, HARBR, highlighted at the Geneva Association’s 50th Summit...
Posted: Dec 01, 2023
Property, casualty, and accident & health insurer, Crum & Forster, has appointed Brock Masterson to the company’s Surety Division as a member of its executive leadership team. Masterson will be based in the company’s Morristown...
Posted: Dec 01, 2023
In response to the recent surge in interest rates, the global reinsurance market has experienced a mixed landscape, according to a report by AM Best. The rise in interest rates has triggered concerns about unrealised investment losses, but reinsur...
Posted: Dec 01, 2023
Global reinsurer, Swiss Re ahead of its transition from US GAAP to the IFRS accounting standard, has set a new IFRS target for net income of more than $3.6 billion for 2024. Simultaneously, the Life & Health Reinsurance segment is expected to...
Posted: Dec 01, 2023
Sandy Smith assumes oversight of the team of risk management specialists in her new role as Vice President, Risk Management, at ICW Group Insurance Companies. Paul Zamora, Senior Vice President, Workers’ Compensation, ICW Group, commented on...
Posted: Dec 01, 2023
The aim of this partnership is to provide executive lines insurance products exclusively to the wholesale brokerage community. The Distinguished Executive Lines business will begin accepting submissions on January 2nd, 2024. Distinguished will ini...
Posted: Dec 01, 2023
A joint study by Moody’s RMS, the risk modeling and solutions company, and UK flood reinsurance scheme Flood Re, warns of the limitations of current flood defences in the face of climate change, and calls for the UK to invest further. The main poi...
Posted: Dec 01, 2023
After being agreed at COP27 in Sharm El Sheikh, the loss and damage fund became operational today as world leaders meet in Dubai for the start of this year’s annual climate conference, with the UAE announcing a commitment of $100 million to...
Posted: Nov 30, 2023
Compre, an international legacy group, has announced the appointment of LoriAnn Lowery-Biggers and Jonathan Reiss as independent non-executive directors of its holding company in Bermuda, subject to regulatory approval. Lowery-Biggers brings more...
Posted: Nov 30, 2023
AM Best’s latest reinsurance segment market report states that while established capital remains supportive, new capital remains cautious, as the ratings agency highlights the distinction between available and deployed capital. The report re...
Posted: Nov 30, 2023
Polo Managing Agency (PMA), a prominent turnkey managing agency at Lloyd’s, has unveiled a collaboration with insurance technology company VIPR. This strategic partnership aims to elevate PMA’s managed delegated authority relationships by in...
Posted: Nov 30, 2023
Synpulse, a global professional services company, has partnered with insurtech software provider Cenata for its outwards reinsurance system. Cenata’s CenataSure, provides real time outwards reinsurance management for commercial insurers and reinsu...
Posted: Nov 30, 2023
Placing Platform Limited has announced that Mark Griffith has been appointed to take on the role of Chief Information Officer. He is set to join the business in January 2024, where he will report to Joe Gordon, PPL CEO. In his new role, Griffith i...
Posted: Nov 30, 2023
As per the latest Political Risk Index report from WTW, elevated government expenditures during the pandemic, global inflation, and increased interest rates in 2023 have contributed to an “escalating debt crisis in emerging markets.” E...
Posted: Nov 30, 2023
Industrial insurer HDI Global, a part of the Talanx Group, has reported an improved year-over-year combined ratio of 92.7% from 95.4% for the first nine months of the year, as well as strong revenue and earnings growth. The company reported a 10%...
Posted: Nov 30, 2023
Speaking on a panel on day two of The Geneva Association’s 50th Summit in Zurich, Christian Mumenthaler, CEO of Swiss Re, said that amid the current geopolitical tensions, many investors are turning negative on risk-taking assets, preferring...
Posted: Nov 30, 2023
Rokstone, an international speciality re/Insurance MGA, part of the Aventum Group, has launched a new Contingency Portfolio as demand for the product grows. With exclusive backing from A rated carriers, Rokstone’s new contingency account will be i...
Posted: Nov 30, 2023
M&A advisory firm, Continuum Advisory Partners, has announced the appointment of two new Senior Managing Directors, Duncan Buck and Andrew Gould. A financial services banker with over 25 years’ M&A experience, Buck is joining Continuum fro...
Posted: Nov 30, 2023
In Fitch Ratings’ latest peer review for large global reinsurers in November 2023, the industry has demonstrated resilience with a consistent strong to very strong capitalisation. The assessment, based on Fitch’s risk-based Prism Facto...
Posted: Nov 30, 2023
Members from Boost, Branch, Clearcover, Lemonade, Root Insurance, and others, have launched an advocacy group called InsurTech Coalition that aims to shape the industry’s future. Insurtech Coalition has published an open letter to the industry tha...
Posted: Nov 30, 2023