Reinsurance News
Global insurer AXA has revealed that its AXA XL Reinsurance division grew premiums by 9% in Q1 of 2024 to €1.3 billion, driven by favourable price effects in the Property and Casualty business and higher volumes in Specialty. AXA’s total gro...
Posted: May 03, 2024
Oman Re, the sole reinsurer in the Sultanate of Oman, has reported a net profit after tax of OMR977K (USD 2.5 million), a remarkable 83% increase compared to the same period last year, when the net profit stood at OMR 534K (USD 1.4 million). Drive...
Posted: May 03, 2024
Ascot Group, the global specialty insurance firm, has appointed Michael Watkins to the newly created role of Head of Bermuda Insurance, simultaneously, Jason Pugi has been named the Head of Bermuda Excess Casualty. Watkins will be supported by the...
Posted: May 03, 2024
Heritage Insurance Holdings has reported a net income of $14.2 million for the first quarter of 2024, a slight improvement compared to $14 million for Q1’23. This increase can be attributed primarily to a rise in net premiums earned and higher net...
Posted: May 03, 2024
Allianz has announced the appointment of Nicola George as the Managing Director (MD) of its personal lines broker business in the UK, which will undergo a rebranding from LV= Broker to Allianz on May 1st. George’s appointment follows Mike Cr...
Posted: May 03, 2024
Inari, a technology solution provider for global insurance and reinsurance companies, has appointed Amanda Strazdins as Vice President (VP) of Sales, based in London. Strazdins joined in April, and her remit includes leading all of the commercial...
Posted: May 03, 2024
Kemper Corporation has posted their results for the first quarter of 2024, which includes total revenues decreasing by $151.8 million, or 11.7%, to $1,143.0 million, compared to the first quarter of 2023. The company attributed this decrease towar...
Posted: May 03, 2024
ICEYE, a provider of satellite-powered disaster management solutions, has launched its Flood Insights and Flood Early Warning products for Canada, providing insurers with rapid access to real-time flood data across the country. Given that floods c...
Posted: May 03, 2024
New York based alternative asset manager Third Point LLC has announced the launch of Malibu Life Reinsurance SPC (Malibu Life Re), a newly licensed life and annuity reinsurer based in the Cayman Islands. Malibu Life Re is an independent, Class B(i...
Posted: May 02, 2024
Verisk’s Whitespace digital e-trading platform has introduced workflow automation functionality with Digital Follow which will be trialled by a select set of customers before a wider launch in the second half of this year. Developed with underwrit...
Posted: May 02, 2024
Origami Risk, the risk, safety, and insurance Software as a Service (SaaS) technology firm, has announced that it will launch its new package of Generative AI (GenAI) solutions for risk managers at RIMS in San Diego next week, as the company urges...
Posted: May 02, 2024
Hong Kong-domiciled global reinsurer Peak Re has achieved its best-ever net profit of $200 million for the full year 2023, supported by a diversified underwriting portfolio, as well as liquid and quality investment assets, despite a host of market...
Posted: May 02, 2024
Specialist Managing General Agent (MGA), Risk Assurance Management Ltd (RAM) has partnered with Shepherds Friendly, one of Britain’s oldest mutual societies, and global re/insurer SiriusPoint, to further develop its existing portfolio of UK Group...
Posted: May 02, 2024
Marsh McLennan Agency, a subsidiary of Marsh, has acquired AC Risk Management (ACRM), an independent commercial lines brokerage based in Melville, New York. Established in 2012, ACRM essentially offers property & casualty insurance to business...
Posted: May 02, 2024
Janover, an AI-enabled platform for commercial real estate transactions, has announced the launch of Janover Insurance, its new insurtech subsidiary for commercial property insurance and more. Blake Janover, Chairman, and CEO of Janover Inc., stat...
Posted: May 02, 2024
Janover, an AI-enabled platform for commercial real estate transactions, has announced the launch of Janover Insurance, its new insurtech subsidiary for commercial property insurance and more. Blake Janover, Chairman, and CEO of Janover Inc., stat...
Posted: May 02, 2024
Jeff Poulin, CEO of Canada Life Re, has revealed that the reinsurer delivered 22% of Great-West Lifeco’s base earnings in Q1 of 2024, which exceeded $1 billion for the first time. According to the firm, this record figure reflects growth in...
Posted: May 02, 2024
Resilience, a cyber risk management firm, enhances its Essential Solution for Cyber Insurance and Edge Solution for Cyber Risk Management by integrating two new features that empower clients to consistently monitor and prioritise their efforts in...
Posted: May 02, 2024
As per ACORD’s Carrier Mergers & Acquisitions study, only 52% of last decade’s largest M&A transactions created long-term value The firm’s new study, set to be officially presented at ACORD Industry First on May 21st, scr...
Posted: May 02, 2024
Skyward Specialty Insurance Group, Inc. has announced its financial results for the first quarter of 2024 reporting a net income of $36.8 million and an improved combined ratio of 89.6%. The increase in Q1 2024’s net income compares to the $15.6 m...
Posted: May 02, 2024
Aon, a global insurance and reinsurance broker, has introduced Cedar, a new cyber solutions product aimed at providing long-term stability and support for mid-market clients globally. Cedar is underwritten by Aon Underwriting Managers and a team o...
Posted: May 02, 2024
The Allstate Corporation has posted a net income of $1.2 billion in the first quarter of 2024, a substantial improvement from last year’s net loss of $346 million, as Property-Liability underwriting results improved. At the same time, adjust...
Posted: May 02, 2024
Private flood insurance company Neptune Flood has acquired Charles River Data, a renowned Boston-based data science consulting group, marking a significant milestone in the company’s growth strategy. According to the announcement, this strategic m...
Posted: May 02, 2024
Specialist fixed income investment manager Insight Investment has made three senior hires within its North America Distribution team, naming Ryan McMurdie as Director, Insurance Solutions, Sarah Leffel as Associate Director, Institutional, and Ann...
Posted: May 02, 2024
Global fintech company Acrisure has announced the acquisition of Scottish insurance broker WH&R McCartney, representing the formation of Acrisure Scotland platform and marking the firm’s growth strategy in the region. Based in Motherwell, WH&#...
Posted: May 02, 2024