Reinsurance News

Continuum strengthens senior team with two new specialist hires

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

Global reinsurers maintain strong financial standing despite challenges: Fitch

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

First-of-its-kind InsurTech Coalition launched by Lemonade, Root, Clearcover, & others

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

The Hartford announces key leadership appointments

Property and casualty insurer The Hartford has named A. Morris Tooker as the Head of Commercial Lines, Melinda Thompson as Head of Personal Lines, Don Hunt as General Counsel, Chris Jones is now head of Small Commercial, and Tracey Ant has been ap...

Posted: Nov 30, 2023

It’s time for the re/insurance industry to show its value in climate fight: IDF

There’s an urgent need to bring the voice of insurance to the fore of the climate debate and the industry must work to show its value and find sustainable ways of building resilience against adverse weather and climate events, according to the Ins...

Posted: Nov 30, 2023

Apollo writes first Smart Follow lines ahead of launch in 2024

Independent specialist insurer and reinsurer Apollo has announced writing its first two risks under its new Smart Follow venture, powered by Artificial, which was announced in September following a successful proof of concept. According to Apollo,...

Posted: Nov 30, 2023

Rate increases to persist through 2024 and probably into 2025: Gulbransen, Howden Tiger

As negotiations intensify ahead of the January 1st, 2024, reinsurance renewals, Wade Gulbransen, Head of North American Reinsurance at Howden Tiger, has said that the broker sees the market continuing with both price and coverage into next year. S...

Posted: Nov 30, 2023

Great American Europe to provide capacity to Bondaval in strategic partnership

Insurtech Bondaval and Great American Europe, via Great American International Insurance (UK) Limited and Great American International Insurance (EU) DAC, have announced their partnership as they enter a multi-year agreement. Bondaval offers digit...

Posted: Nov 30, 2023

MS Amlin promotes Stuart Forsyth to Head of Marine

MS Amlin, Lloyd’s global insurer and reinsurer, has promoted Stuart Forsyth to Head of Marine, as Laurence Humberstone retires after 19 years with the firm. Forsyth currently serves as the Lead Underwriter for Hull & Hull War. His remit in the...

Posted: Nov 30, 2023

CFC names Louise O’Shea CEO, as founders depart after misconduct investigation

CFC, the global specialist cyber insurance provider, has appointed Louise O’Shea as its new Chief Executive Officer, subject to FCA approval. The news follows the completion of an investigation by Lloyd’s into allegations of non-financial miscondu...

Posted: Nov 30, 2023

WTW and Sønr partner to strengthen innovation initiatives

Sønr, the innovation scouting and collaboration platform, has announced a strategic partnership with WTW to “bolster” the insurance broker’s innovation initiatives, and strengthen connectivity within its innovation teams globally...

Posted: Nov 30, 2023

First Eagle Investments hires Katie Cowan as Head of Insurance Client Solutions

First Eagle Investments, an independent, privately owned investment management firm headquartered in New York, has appointed Katie Cowan to the role of Head of Insurance Client Solutions. In this newly created role, Cowan is set to lead First Eagl...

Posted: Nov 30, 2023

No escaping net zero transition as pressure mounts, says Swiss Re CEO

In the minds of the leaders of some of the world’s largest companies, there’s no doubt the transition to net zero will happen, but it’s important people understand the consequences of the steps, according to Christian Mumenthaler, CEO of Swiss Re....

Posted: Nov 29, 2023

Markel adds Tim Woodhouse to War and Terrorism team

Markel, the insurance subsidiary of Markel Group Inc., has appointed Tim Woodhouse as Senior Underwriter within its War and Terrorism team, based at the firm’s London office and reporting to Ed Winter, Director of Terrorism. The appointment...

Posted: Nov 29, 2023

AI is a journey, finding success does not happen quickly: Pasquarelli, OECD One AI Group

Speaking recently at the Geneva Association’s 50th Summit in Zurich, Switzerland, Walter Pasquarelli, OECD One AI Group of Experts, explained how artificial intelligence (AI) can effectively be applied into businesses, as well as the steps that or...

Posted: Nov 29, 2023

Reinsurers have won the battle so far in 2023: Deutsche Bank

As the primary vs reinsurance debate rolls on, analysts in the Deutsche Bank European Insurance Team suggest reinsurers have “won the battle” so far in 2023 in terms of relative share price performance, particularly SCOR and Munich Re....

Posted: Nov 29, 2023

Bridges and Petrillo named Coastal Insurance Underwriters Presidents

Coastal Insurance Underwriters (CIU), a program administrator specialising in designing, creating, and managing insurance products for a variety of business classes, has announced the appointment of two new Presidents. Taking over this position wi...

Posted: Nov 29, 2023

Unisys to buy annuity contracts worth $250m from F&G Annuities & Life

Global technology solutions company, Unisys has closed agreements with insurer F&G Annuities & Life, Inc. to purchase group annuity contracts totalling approximately $250 million. Through these contracts, Unisys will transfer projected ben...

Posted: Nov 29, 2023

Climate-related death toll in Africa underlines urgency for COP28 action: ARC

In 2023, 15,700 people have lost their lives to extreme weather disasters in Africa, while another 34 million have been affected, highlighting the urgent need for action at COP28, says African Risk Capacity Limited (ARC). In a recent report, ARC o...

Posted: Nov 29, 2023

Arch Reinsurance hires Greg Habay to lead ILS partner relations

Arch Reinsurance has announced the appointment of Greg Habay as Managing Director, Head of Business Development and ILS Partners Relations. In his new role, based in New York, Habay will lead Arch Re’s Insurance-Linked Securities (ILS) business de...

Posted: Nov 29, 2023

Cytora partners with ZestyAI to strengthen commercial property underwriting

Cytora, a digital risk processing platform, has partnered with ZestyAI, a company that leverages artificial intelligence for risk assessment, to bolster commercial property underwriting with integration of climate models. According to the announce...

Posted: Nov 29, 2023

KKR set to acquire remaining 37% of Global Atlantic for $2.7bn

KKR & Co. Inc. has announced a definitive agreement under which it will acquire the remaining 37% stake in the insurance company Global Atlantic, increasing its ownership to 100%. KKR will fund the transaction from its balance sheet, which had...

Posted: Nov 29, 2023

AXIS successfully closes market’s first 144A cyber catastrophe bond

Bermuda-based insurer and reinsurer, AXIS Capital Holdings Limited, today announced the closing of the market’s first 144A cyber catastrophe bond, a $75 million Long Walk Reinsurance Ltd. transaction which provides the firm’s subsidiaries wi...

Posted: Nov 29, 2023

Lockton expands Energy and P&C divisions in Norway with four senior hires

Independent insurance broker Lockton has announced the appointments of Christen Thorbjørnsen, Harry Nilsen, Nikolai Jørgensen and Sigbjørn Larsen to its Energy, Renewables and Property divisions in Norway. Industry veterans Thorbjørnsen and Nilsen...

Posted: Nov 29, 2023

AXIS Re hires Coburn as Reinsurance Underwriting Head, Canada

AXIS Reinsurance, the reinsurance business segment of AXIS Capital Holdings, has appointed Jessica Coburn as Reinsurance Underwriting Head, Canada, effective immediately. In the role, she will report to AXIS Re President, North America, Jason Bust...

Posted: Nov 29, 2023