Reinsurance News
2023 results have shown that large Dutch insurers maintained a very strong level of regulatory capitalisation, according to Fitch Ratings analysts. Large insurers in the European country demonstrated very strong solvency in the period, with the he...
Posted: May 15, 2024
The Insurance Council of Australia (ICA) has announced that it has welcomed additional 2023-24 Budget funding to improve the country’s resilience against natural disasters. This includes funding to improve the National Emergency Management A...
Posted: May 15, 2024
The latest edition of Guidewire’s annual insurance customer attitudes study reveals a shifting view among UK customers toward the insurance industry, particularly when it comes to making claims. Titled ‘The Insurance Engagement Gap and its I...
Posted: May 15, 2024
The overall trend for Auto Liability and Umbrella & Excess for the second quarter of 2024 is a hardening market with rates forecasted to go up to 15%, while markets like cyber are softening with rates going down to 0%, according to CAC Special...
Posted: May 15, 2024
Aon, a global insurance and reinsurance broker, highlights that a significant protection gap persists for intangible assets such as artificial intelligence (AI), cyber, and intellectual property (IP). According to findings from Aon’s recent report...
Posted: May 15, 2024
SageSure, one of the largest managing general underwriters (MGU) focused on catastrophe-exposed markets, has launched its first Expanded Markets surplus lines dwelling fire product for primary, secondary, tenanted, and seasonal homes. The latest E...
Posted: May 15, 2024
McGill and Partners has appointed Sidney Prasse as Partner in its Financial Lines and Special Risks team. Prasse has over 6 years of experience in the insurance industry, having joined the firm in February 2023 as an Associate focusing on cyber an...
Posted: May 14, 2024
At a recently held Board of Governors meeting, Jennifer Montero, Chief Financial Officer (CFO) of Florida’s Citizens Property Insurance Corporation, said that the insurer of last resort is expecting a slightly higher rate on line as the Boar...
Posted: May 14, 2024
WTW has unveiled a new collaboration between its WTW Research Network (WRN), and two academic researchers, designed to support the brokers advisory services on key security aspects of climate change, which are often seen as being overlooked, and r...
Posted: May 14, 2024
Specialty insurer Mosaic Insurance has bolstered its global transactional tax-liability team by appointing two tax-risk specialists: Camille Zabukovec and Roktim Kaushik. Zabukovec joined Mosaic’s London office as a Assistant Vice President,...
Posted: May 14, 2024
Insurance Europe has written a letter to the European Commission (EC) calling for the technical negotiations of the EU’s Solvency II review to stay aligned with the political agreement and EU goals on climate change, financing the green and digita...
Posted: May 14, 2024
F&G Annuities & Life, Inc. (F&G), has appointed John Currier as President, where he will maintain his reporting line to CEO Chris Blunt while overseeing the Retail Markets business unit alongside his new role. Before becoming President...
Posted: May 14, 2024
As the insurance market and its customers realise the potential of artificial intelligence (AI), it is yet not very clear how to apply the technology in a way that delivers enhanced engagement, and in turn, sales, Swiss Re’s Daniel Levy has stated...
Posted: May 14, 2024
In a recent report from BMO Capital Markets, analysts suggest that companies are coming to the realisation that more recent 2020-2023 vintages are also slightly under-reserved, similar to older 2019 and prior vintages. The report highlights that r...
Posted: May 14, 2024
Florida’s Citizens Property Insurance Corporation, the state’s insurer of last resort, is still targeting as much as $5.5 billion of reinsurance coverage for 2024 but has increased the budget for the entire program to up to $750 million. Doc...
Posted: May 14, 2024
XPT Specialty, a wholesale broker for commercial and personal insurance, has announced the appointment of Suzette Torres as Vice President of Personal Lines, who joins the business to spearhead the growth for this line of products. Torres’ additio...
Posted: May 14, 2024
Jean-Jacques Henchoz, CEO of global reinsurer Hannover Re, has suggested that the stable outlook for the P&C market is set to continue, given there are no significant new entrants in the space. Henchoz’s comments stem from Hannover Re...
Posted: May 14, 2024
Christopher Cavallaro is joining Coaction’s Board as Independent Board Director, effective in May of 2024. Cavallaro joins the specialty P&C insurer’s Board having built a distinguished career in the professional lines space, including foundin...
Posted: May 14, 2024
AXA XL Reinsurance has announced the appointment of Ian Sawyer to the newly expanded role of Head of London Casualty, Reinsurance. In his new capacity, Sawyer will be responsible for the US and International Casualty Treaty propositions in London...
Posted: May 14, 2024
UK broker and underwriter Jensten has announced a strategic restructure which is anticipated to help the business drive further growth and bolster continued acquisition success. It has been confirmed that the organisation is splitting its Wholesal...
Posted: May 14, 2024
As per a new report from S&P Global Ratings, the recent floods in Rio Grande do Sul, Brazil, may increase demand for catastrophic risk coverage, likely pushing up prices and premiums for this coverage type. Heavy rains started in Rio Grande do...
Posted: May 14, 2024
Aon has developed a new insurance product for international transport and storage companies engaging in storing carbon dioxide. According to the firm, this new product will provide cover for key risk exposures associated with Carbon Capture and St...
Posted: May 14, 2024
Bermuda-domiciled re/insurer Hamilton Insurance Group, Ltd. has appointed Wilfred Chin to the newly-created Group Chief Actuary role, effective May 1st, 2024, reporting to Alex Baker, Group Chief Risk Officer. Chin joined Hamilton in late 2023 fro...
Posted: May 14, 2024
Everest Insurance, the insurance arm of Bermuda-based re/insurer Everest Group, Ltd., has officially launched its Australian Insurance operations after receiving approval from the Australian Prudential Regulation Authority. This launch is key in e...
Posted: May 14, 2024
Global reinsurer Hannover Re has announced a 15% rise in net income to €558 million in its first quarter 2024 results, with a reinsurance underwriting result of €720 million, up 27% year-on-year. Group-wide, Hannover Re’s operating profit ro...
Posted: May 14, 2024