Reinsurance News
American Coastal Insurance Corporation, a property and casualty insurer, has reported net income for Q1 2024 of $23.6 million, or $0.48 per diluted share, compared to $267.3 million, or $6.14 per diluted share, for Q1 2023. This decrease in net in...
Posted: May 13, 2024
Synthetik has announced the successful demonstration of Flowcore, its “Flood Data Collection and Analysis” platform designed for modelling flood scenarios and predicting resulting damages and financial/insurance losses. Flowcore integr...
Posted: May 13, 2024
Assured Guaranty has announced its financial results for the first quarter of 2024, reporting an increased net income of $109 million compared to the $81 million reported in the same period the year prior. Adjusted operating income was also up, to...
Posted: May 10, 2024
Fusion Specialty, a managing general agent (MGA) platform within Pop Group Holdings (POP), is expanding its UK underwriting capabilities with the appointments of Alexander Mackay and Tom Hopkins to its Mergers and Acquisitions (M&A) London tea...
Posted: May 10, 2024
Maiden Holdings Ltd., has posted its results for the first quarter of 2024, which includes a net income of $1.5 million, compared to a net loss of $11.3 million from the prior year period. According to the firm, this improvement was due to higher...
Posted: May 10, 2024
Insurtech, Cover Whale Insurance Solutions, Inc., has bolstered its senior leadership team with two new hires, as Barninder Khurana joins the firm as Chief Product Officer and Bill Hart assumes the role of Chief Architect. Khurana takes on the rol...
Posted: May 10, 2024
F&G Annuities & Life, Inc., the provider of insurance solutions serving retail annuity and life customers and institutional clients, has reached over $5 billion in cumulative sales of pension risk transfer (PRT) transactions, since the cha...
Posted: May 10, 2024
Australian insurer QBE continued to report growth in gross written premium in Q1 2024, up 2% on the prior corresponding period on both a reported and constant currency basis. The firm has also disclosed that group-wide, there were renewal rate inc...
Posted: May 10, 2024
American Coastal Insurance Corporation has secured more than 90% of the total reinsurance limit it’s seeking for its June 1st renewal, as the firm looks to increase the total open market limit by around $265 million for the 2024 hurricane se...
Posted: May 10, 2024
Mosaic Insurance is now offering customised professional liability protection for specialist engineers, offering $15 million in targeted primary coverage for unique risks. According to the announcement, the new form offers a dedicated product, wit...
Posted: May 10, 2024
Mercury Insurance is leading an initiative to ensure insurance access and coverage continuity for numerous California consumers. Through close collaboration, Tokio Marine (TMA) and Mercury have devised a strategy to seamlessly transfer TMA and its...
Posted: May 10, 2024
Florida’s property insurance sector, grappling with prolonged challenges from legal system manipulation and fraudulent claims, is witnessing a turnaround as the 2024 Atlantic hurricane season approaches, as outlined in a recent report by the...
Posted: May 10, 2024
AM Best has revised the outlooks to positive for Fairfax Financial Holdings, its subsidiaries, and Allied World, reflecting the improved earnings profile of the consolidated group. The rating agency noted that Fairfax deployed significant cash int...
Posted: May 10, 2024
Oxbridge Re, the Cayman Islands-based reinsurance company, has disclosed a Q1 2024 net loss of $905,000 compared to a net income of $142,000 in Q1 2023. According to the firm, the decrease is primarily due to the negative change in the fair value...
Posted: May 10, 2024
Global insurance and reinsurance brokerage Aon has unveiled an update to its Pricing Platform, that is set to bring “enhanced visualisation and automation capabilities to re/insurance underwriters.” It has also been confirmed, that the...
Posted: May 10, 2024
CRC Group, a North American wholesale specialty insurance distributor, has announced the appointment of two new underwriting team leaders, Lance Lee and Andrew Weinberg. Lee, who has almost a decade of industry experience, is joining the company’s...
Posted: May 10, 2024
American Coastal Insurance Corporation has announced the sale of its New York domiciled insurer, Interboro Insurance Company, to Forza Insurance Holdings, LLC, a move which completes the run-off of American Coastal’s personal lines portfolio...
Posted: May 10, 2024
White Mountains has released its Q1 2024 results, noting that the combined ratio for its Ark segment was 94%, which included slight net favourable prior year development and minimal catastrophe losses. However, Ark’s non-catastrophe losses i...
Posted: May 10, 2024
Fidelis Insurance Holdings Limited, a Bermuda-domiciled re/insurer, has reported underwriting income of $69.2 million, with a combined ratio of 85.8% for Q1 2024, compared to $80.6 million and 79.1%, respectively, for Q1 2023, as the firm’s gross...
Posted: May 10, 2024
Saudi Re has reported a net profit after zakat (a religious obligation for all Muslims who meet the necessary criteria of wealth) of SAR 31.79 million for the first quarter of 2024, a 183.87% increase from the same quarter the year prior. Accordin...
Posted: May 10, 2024
ICW Group Insurance Companies has expanded its workers’ compensation insurance coverage into the New York market to support its growth strategy. ICW Group noted that the entry into New York furthers its commitment to offering comprehensive c...
Posted: May 10, 2024
Global insurance and reinsurance broker Aon has launched a suite of risk analyser tools, allowing brokers in North America to receive exposure data, quantify loss potential and help risk managers make decisions based on the total cost of risk. The...
Posted: May 10, 2024
US carbon-credit insurance carrier, Oka, has partnered with Australia’s Clima, a carbon solutions platform, to roll out insured carbon credits in the country via broker PSC Paragon (Australia). Protected by Oka’s Carbon Protect™...
Posted: May 10, 2024
Data analytics and market insight platform, Broker Insights, has launched Propensity Lens, which aims to improve efficiency for insurers by helping them to predict the possibility of winning business. Propensity Lens is an addition to Broker Insig...
Posted: May 10, 2024
James River Group Holdings Ltd. has released its financial results for the first quarter of 2024 reporting a net income of $20.9 million and a combined ratio of 95.3%. These results compared to the prior year first quarter’s when the company repor...
Posted: May 09, 2024