Reinsurance News
In its Q1 2024 results, Aspen Insurance Holdings has revealed an operating income of $103 million, driven by an 86.3% adjusted combined ratio, down marginally from last year’s $108 million and adjusted combined ratio of 82.7%. Gross written...
Posted: Apr 30, 2024
Heritage Insurance Holdings has announced the completion of the full placement of its 2024-2025 catastrophe excess-of-loss reinsurance program for its insurance subsidiaries: Heritage Property Casualty Insurance Company, Narragansett Bay Insurance...
Posted: Apr 30, 2024
Louise Marling has been named as the successor to Gina Butterworth and will take over as reinsurance broker Gallagher Re’s UK Chief Operating Officer (COO), subject to regulatory approvals. It was announced yesterday that Butterworth has bee...
Posted: Apr 30, 2024
Bermuda-based insurer and reinsurer, Everest Group, Ltd., has reported a Q1 2024 combined ratio of 88.8%, as pre-tax underwriting income reached a record $409 million for the firm, up on the $273 million seen in the prior year period. The re/insur...
Posted: Apr 30, 2024
Lloyd’s global insurer and reinsurer MS Amlin has hired Catherine Healy from HDI Global Specialty as Head of Property & Crisis Management Claims. In her new role, Healy assumes responsibility for the management and oversight of claims fo...
Posted: Apr 30, 2024
Arch Capital Group has reported Q1 2024 net income available to its common shareholders of $1.1 billion, marking an increase of $395 million compared to the same quarter of 2023. After-tax operating income in Q1 2024 also improved, reaching $933 m...
Posted: Apr 30, 2024
Tech-driven insurance brokerage Newfront has added Katherine August-deWild, who has been an investor and advisor to the company for the last six years, to its Board of Directors. August-deWild brings three decades of financial services industry ex...
Posted: Apr 30, 2024
WTW, a global re/insurance broker, has appointed Alex deLaricheliere as the Strategy and Execution Leader and Banking Subvertical Leader within the Financial Institutions and Professional Services (FIPS) industry division of Corporate Risk and Bro...
Posted: Apr 30, 2024
According to findings from Coalition, an active cyber insurance provider, more than half (56%) of all cyber insurance claims in 2023 stemmed from either funds transfer fraud (FTF) or business email compromise (BEC), underscoring the importance of...
Posted: Apr 30, 2024
Chedid Capital now holds 100% of Groupe Ascoma by acquiring the remaining 20% share from the Husson Family, reinforcing its position in Africa’s insurance brokerage market. This finalises a process that began in September 2020 when Chedid Capital...
Posted: Apr 30, 2024
Insurtech managing general agent (MGA), Loadsure, has officially entered the European market, which the firm hopes will build on its success in North America. The MGA will initially focus on the Benelux region, Germany, France, Denmark, Norway, Fi...
Posted: Apr 30, 2024
Australian insurer QBE Insurance Group Limited has appointed Nicola Schroder as the new Group Head of Sustainability, effective immediately. In this role, Schroder’s remit will include continuing to drive QBE’s Sustainability Strategy across...
Posted: Apr 30, 2024
French reinsurer SCOR has appointed Claire McDonald as Chief Executive Officer (CEO) of SCOR Business Solutions (SBS), the firm’s large corporate risks insurance unit which was previously known as SCOR Specialty Insurance. Effective Septembe...
Posted: Apr 29, 2024
During the Q1 2024 earnings call, W. Robert Berkley, Jr., President and CEO of W. R. Berkley Corporation, notes that despite property cat reaching peak prices, there remains profit potential, particularly in the reinsurance property sector. Berkle...
Posted: Apr 29, 2024
Global losses from disaster events reached $45 billion in the first quarter of 2024, of which at least $17 billion was covered by insurance, with an estimated quarterly protection gap of 64%, according to insurance and reinsurance broker Aon. Insu...
Posted: Apr 29, 2024
Global losses from disaster events reached $45 billion in the first quarter of 2024, of which at least $17 billion was covered by insurance, with an estimated quarterly protection gap of 64%, according to insurance and reinsurance broker Aon. Insu...
Posted: Apr 29, 2024
Golub Capital has revealed the launch of its Insurance Solutions team, a newly formed group of dedicated insurance and asset management professionals led by Jennifer Potenta as Managing Director, Head of Insurance Solutions. According to Golub Cap...
Posted: Apr 29, 2024
Verisk’s Property Claim Services (PCS), a provider of industry loss estimates and loss data globally, has designated the MOVEit cyber attack and the Change Healthcare cyber attack as PCS Cyber Catastrophe Loss Events, as reported first by ou...
Posted: Apr 29, 2024
Hamilton Insurance Group has appointed Athena Tolosa as Chief Financial Officer of Hamilton Re, its Bermuda-based insurance and reinsurance underwriting platform. Tolosa has over 18 years of experience in the (re)insurance industry, having most re...
Posted: Apr 29, 2024
ZestyAI, a company that leverages artificial intelligence (AI) for risk assessment, has announced its partnership with Florida Peninsula Insurance Company, integrating ZestyAI’s Z-PROPERTY Location Insights solution to enhance underwriting p...
Posted: Apr 29, 2024
Allianz Reinsurance, part of global insurer Allianz, has named Silvia Rimola as Head of Capital and Legacy Solutions, effective April 2024. Rimola first joined Allianz in 2002 as part of the financial department, and has since held numerous roles...
Posted: Apr 29, 2024
WTW, a global insurance and reinsurance broker, has partnered with Riskonnect to launch a new analytical delivery tool that seamlessly connects claims and exposure data through the WTW Risk IQ API (application programming interface). This collabor...
Posted: Apr 29, 2024
Argenta Syndicate Management Limited (ASML), a subsidiary of Argenta Holdings Limited, has announced the appointment of Miriam Goddard to its board as a non-executive director. John Whiter, chair of the ASML Board, expresses his enthusiasm for God...
Posted: Apr 29, 2024
Rating agency AM Best revised its outlook on the United Kingdom’s non-life insurance segment from negative to stable, as inflation is expected to decrease closer to the Bank of England’s 2% target in mid-2024, which should ease the pressure...
Posted: Apr 29, 2024
African Risk Capacity (ARC) has revealed that Malawi, Mozambique, Zambia and Zimbabwe are likely to receive insurance payouts from the ongoing drought in the region, which is one of the worst in decades. In a recent meeting between ARC and its par...
Posted: Apr 29, 2024