Reinsurance News
The Texas Windstorm Insurance Association (TWIA) has secured enough support to complete its reinsurance renewal in the coming days, and its broker Gallagher Re will work with staff to get lines signed, it was revealed today during a TWIA Board mee...
Posted: May 07, 2024
MEDVIDA Partners, a Spanish life insurance company specialised in the acquisition, integration and optimization of life insurance businesses, has completed the acquisition of Sa Nostra Vida from VidaCaixa. Through this transaction, which was annou...
Posted: May 07, 2024
Ambac’s Everspan has reportedly produced a 98.4% combined ratio in Q1 of 2024, much improved compared to the 121.9% disclosed in the opening quarter of 2023. At the same time, Everspan’s gross premium written (GPW) and net premium written (N...
Posted: May 07, 2024
Blackstone, the alternative asset manager, has appointed Philip Sherrill as the Global Head of Insurance. In this role, Sherrill’s remit focuses on growing the firm’s insurance platform globally, working closely with Gilles Dellaert, Global...
Posted: May 07, 2024
In an interview with China Daily, Thierry Leger, Chief Executive Officer (CEO) of French reinsurer SCOR, stated that the company will “massively” boost investments in the Chinese market to capture the country’s long-term growth p...
Posted: May 07, 2024
The global specialty re/insurance firm, Chaucer and global specialist insurer Tokio Marine Kiln (TMK) have been chosen as new capacity partners by Casper Specialty UK Limited, a casualty-focused MGA, post a successful launch and continued growth,...
Posted: May 07, 2024
In response to escalating natural catastrophes and rising insured losses, Moses Ojeisekhoba, Chief Executive Officer of Global Clients & Solutions at Swiss Re, stresses the urgent need for society to leverage advanced data-driven insights to d...
Posted: May 07, 2024
Swedish mining company Boliden has confirmed that the primary insurance company has fully assumed its part of the insurance claim following the June 2023 fire at the Rönnskär smelter, a major producer of copper, zinc, lead and other metals. For th...
Posted: May 07, 2024
Reinsurance Group of America (RGA), a global life and health reinsurer, has reported a consolidated net premium increase of 58.8% to $5.4 billion for Q1 2024. This included a $1.9 billion contribution from a single premium pension risk transfer tr...
Posted: May 07, 2024
Truist Financial Corporation has completed the sale of its remaining stake in Truist Insurance Holdings (TIH), the fifth largest insurance brokerage in the US, to an investor group led by private equity firms Stone Point Capital, Clayton, Dubilier...
Posted: May 07, 2024
The Hanover Insurance Group, Inc. has reported net income of $115.5 million for Q1 2024, compared to a net loss of $12 million in the prior-year quarter. The firm’s operating income was $111.9 million for the quarter, compared with $4.6 million in...
Posted: May 07, 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has introduced a new cyber insurance endorsement designed to help public organisations manage the costs associated with the U.S. Securities and Exchan...
Posted: May 07, 2024
Acrisure, a global Fintech company, has announced the acquisitions of Financial and Credit Insurance Services Ltd (FinCred) and Global Broking Solutions (GBS), managed by the Sutton Winson team, marking a significant expansion of the company’s foo...
Posted: May 07, 2024
In their results for the first quarter of 2024, CNA Financial Corporation has reported a net income of $338 million, compared to a net income of $297 million in the prior year quarter. The firm’s property & casualty (P&C) segments pr...
Posted: May 07, 2024
Global re/insurer Markel Group Inc. has reported growth of 23% in operating revenue to $4.47 billion and operating income growth of 77% to $1.33 billion, primarily driven by its investment engine, for the first quarter of 2024. The company has rep...
Posted: May 07, 2024
Maiden Holdings, Ltd. has entered into a renewal rights transaction with AmTrust Nordic AB, the Swedish subsidiary of AmTrust Financial Services, Inc. to cover the majority of its primary business written through its subsidiaries, Maiden General F...
Posted: May 07, 2024
Hannover Re CEO Jean-Jacques Henchoz anticipates further earnings growth following a string of successful financial years in the firm’s most recent strategy cycle. During Hannover Re’s Annual General Meeting, Henchoz underlined the fir...
Posted: May 07, 2024
Applied Systems has released first quarter 2024 results of the Applied Rating Index, which shows that average premiums for both Personal Auto lines and Personal Property lines increased year over year, while quarter over quarter, premium rate chan...
Posted: May 07, 2024
Quadrant Insurance Managers and Verve Risk Services have announced the next phase of their long standing partnership, with Quadrant assuming the role of exclusive regional partner for Verve. This partnership will focus on managing risks located sp...
Posted: May 07, 2024
Arch Insurance International, part of Arch Capital Group Ltd. has promoted Barbara Rizzi to Chief Claims Officer, effective immediately, based in London. She will report to Kirsten Valder, Deputy Chief Executive Officer, Arch Insurance Internation...
Posted: May 07, 2024
Amwins, a global distributor of specialty insurance products and services, has announced the merger of its Amwins Transportation Underwriters and National Truck Underwriting Managers teams to create a unified entity, Amwins National Transportation...
Posted: May 07, 2024
Kenya domiciled reinsurer Zep Re, or PTA Reinsurance Company, has a new Chief of Staff, Jaskiran S., who has recently joined the firm and will be in charge of strategy execution. ZEP-RE is a specialised institution of the Common Market for Eastern...
Posted: May 07, 2024
Palomar Holdings has reported a net income of $26.4 million for the first quarter of 2024, marking a notable increase of $17.3 million from the same period in 2023. The company has experienced substantial growth in gross written premiums (GWP), su...
Posted: May 07, 2024
CelsiusPro’s Global Parametrics team, in collaboration with Mahila Housing Trust, Howden Insurance Brokers Limited, and Go Digit General Insurance, has introduced a pioneering climate risk insurance (CRI) product providing financial protection for...
Posted: May 06, 2024
HDI Global Insurance Company, the US subsidiary of international commercial insurer HDI Global SE (HDI), has announced the promotion of Marco Hensel to Chief Underwriting Officer (CUO), and the appointment of Santiago Treviño as Chief Strategy Off...
Posted: May 06, 2024