Reinsurance News
Selective Insurance Group has reported $1.16 billion in net premiums written (NPW) for the first quarter of 2023, marking a notable 16% increase, equivalent to $157 million, compared to the first quarter of 2023. For Q1, Standard Commercial Lines...
Posted: May 02, 2024
U.S. primary insurer Allstate has revealed it has raised the top of its Nationwide excess catastrophe reinsurance tower for 2024 to just over $7.9 billion, an increase of around $1 billion compared to 2023. Last year, Allstate’s Nationwide Excess...
Posted: May 02, 2024
MNK Re, an independent broker of specialist risks into Lloyd’s, has appointed Giles Ham as Associate Director, Surety. The appointment will allow MNK Re to expand its international presence in the sector, facilitating coverage for difficult and ha...
Posted: May 02, 2024
International specialist insurer Hiscox has announced net insurance contract written premium (ICWP) within Hiscox Re & ILS grew 19.0% as the business continued to seize attractive market opportunities deploying additional capital and new quota...
Posted: May 02, 2024
AXIS Capital Holdings Limited has reported a substantial rise in net income for the first quarter of 2024, as it climbed to $388 million from the $173 million figure that the company posted in the first quarter of 2023. Operating income for Q124 s...
Posted: May 02, 2024
Lancashire Holdings has announced that gross premiums written in Q1 of 2024 increased by 7.8% year-on-year to $631.7 million, while its insurance revenue increased by a huge 24.6% year-on-year to $422 million. As per Lancashire, the reinsurance se...
Posted: May 02, 2024
Digital risk processing platform Cytora has partnered with driver risk management platform SambaSafety, in a move that is anticipated to enable commercial insurance underwriters to gain deeper insights when assessing the business risks associated...
Posted: May 02, 2024
In its Q1 2024 results, AIG has reported net income attributable to its common shareholders of $1.2 billion, marking a massive improvement compared to the $23 million recorded in the prior year quarter. According to AIG, the increase in net income...
Posted: May 02, 2024
A new report from Gallagher Re has revealed that Q1 2024 global InsurTech funding dropped 17.3% quarter on quarter to $912.3 million, though deal count climbed to 107, indicating that frequency and interest are not waning, but the average check si...
Posted: May 02, 2024
The Ardonagh Group, an independent insurance broker, has announced that it will acquire Mansutti S.r.l, the commercial lines division of Italian insurance broker Mansutti S.p.A. Founded in 1925, Mansutti S.p.A has established a reputation for serv...
Posted: May 02, 2024
Allianz has announced the rebrand of its personal lines broker business from LV= Broker to Allianz, the latest strategic advance for its brand in the UK. Nicola George, who joined the company recently, will lead this part of the Allianz business a...
Posted: May 02, 2024
AXA Mansard, a member of the AXA Group, has appointed Ayomide Xavier to the position of Head Reinsurance. With five years of experience in the insurance and reinsurance industry, Iyanda brings a wealth of valuable skills to his new position. Befor...
Posted: May 02, 2024
QBE North America has launched a specialised Healthcare Liability practice, offering a comprehensive range of coverages tailored to help customers navigate evolving risks and enhance resilience. This initiative aims to address the distinct needs o...
Posted: May 02, 2024
PT Axle Asia, an Indonesian insurance broker, has been renamed PT Bolttech Insurance Broker. The rebrand follows the completion of bolttech’s acquisition of the majority shareholding in Axle Asia in late 2022. The Financial Services Authorit...
Posted: May 02, 2024
World Insurance Associates LLC (World) has announced the appointment of industry veteran Ken Bond as Chief Corporate Development Officer. In his new capacity, Bond will oversee corporate development for all three of World’s businesses, which...
Posted: May 01, 2024
Bermuda-based reinsurer RenaissanceRe (RenRe) is seeing additional demand for reinsurance in Florida, but while the company also anticipates good discipline from the market at the June 1 renewals and feels the Florida market is in a better place,...
Posted: May 01, 2024
Verisk has revealed that consolidated revenues in Q1 of 2024 were $704 million, up from $652 million in the previous year. Elsewhere, Verisk’s underwriting revenues increased 8.2% in the quarter and 7.8% on an organic constant currency (OCC)...
Posted: May 01, 2024
BRP Group has rebranded to the Baldwin Group to reportedly reflect its transformation, growth and integration. The change is effective today, with the firm’s retail brokerage operations, which include the Insurance Advisory Solutions and Mainstree...
Posted: May 01, 2024
Ardonagh Netherlands, the Dutch arm of independent broking groups, has announced the appointment of its in-country management team to lead the growth of local broking bands Léons Group, Klap Verzekeringsmakelaar and Classicus Private Insurance. Th...
Posted: May 01, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has introduced its Active Assailant Ecosystem Preferred Partners Network to address the increasing threat of mass shootings in the United States and C...
Posted: May 01, 2024
International specialty insurance firm, Ryan Specialty has completed the acquisition of Castel Underwriting Agencies Limited, a Managing General Underwriting (MGU) platform, from Arch Financial Holdings (UK) Limited and minority shareholders. Head...
Posted: May 01, 2024
Commenting on the upcoming June reinsurance renewal in Florida, Marc Grandisson, President, and CEO of Arch Capital Group, expects the state’s market to be “well priced” and “very good” on a risk-adjusted basis. As co...
Posted: May 01, 2024
Global specialty lines re/insurer Canopius has bolstered its senior leadership team in Bermuda by hiring Jesse DeCouto as Chief Underwriting Officer (CUO) and Tonia Morgan as Chief Financial Officer (CFO) of Canopius Reinsurance Limited (Canopius...
Posted: May 01, 2024
Consumer Watchdog opposes Californian Insurance Commissioner Ricardo Lara’s proposal to allow insurance companies to use black-box catastrophe models and artificial intelligence (AI) for predicting catastrophic wildfire risks, citing concern...
Posted: May 01, 2024
Ascot Group, the global specialty insurance firm, has appointed Erin Osborne to the role of Head of U.S. Excess Casualty, where she will assume full management and leadership responsibility for the business unit. The role will also see her lead th...
Posted: May 01, 2024