Reinsurance News
Global insurer AIG recently appointed Gero Michel, previously Group Chief Risk Officer (CRO) of AIG Re, as its Head of Underwriting Analytics based in Bermuda. Michel has been with AIG since early 2020, when he joined the firm’s reinsurance...
Posted: Apr 25, 2024
The property insurance market in hurricane-prone Louisiana faces escalating challenges due to rising premiums and the expenses of claims following severe weather events, according to analysts at Moody’s Investors Service. Moody’s recent report hig...
Posted: Apr 25, 2024
Global insurance brokerage Arthur J. Gallagher & Co. has announced the acquisition of Australia-based Prasidium Credit Insurance (Prasidium). Prasidium is a specialist trade credit insurance broker serving clients throughout Australia. Establi...
Posted: Apr 25, 2024
CFC, an insurance provider specialising in emerging and cyber risks, has expanded its transaction liability practice with the creation of a dedicated team focused on underwriting representations and warranties insurance in the renewable energy mar...
Posted: Apr 25, 2024
Florida-based insurtech HCI Group has announced a five-year Executive Employment Agreement with Paresh Patel, who serves as its Chairman and Chief Executive Officer (CEO). This new agreement includes a long-term equity incentive with a vesting thr...
Posted: Apr 25, 2024
Marsh McLennan Agency, a subsidiary of Marsh, has entered into a definitive agreement to acquire Fisher Brown Bottrell Insurance, Inc. (FBBINSURANCE) from Trustmark National Bank, in a $345 million all-cash deal that values FBBINSURANCE at almost...
Posted: Apr 25, 2024
Blue Marble, a climate insurer, has partnered with the U.S. Agency for International Development (USAID) to introduce an innovative financial solution in Kenya, aimed at enhancing the climate resilience of coffee farmers connected to global supply...
Posted: Apr 25, 2024
Latin Re, a Brazilian reinsurance broker, has acquired a license for the advanced risk management software RiskExplorer, developed by Ultimate Risk Solutions (URS). This marks a milestone in the sector, establishing Latin Re as the first Brazilian...
Posted: Apr 24, 2024
Kairos Risk Solutions, a Singapore-based boutique insurance solutions consultancy, has announced the appointment of Stephen Lee to the position of Managing Director, Banking Solutions. With Lee’s extensive experience in banking, this strateg...
Posted: Apr 24, 2024
Global climate risk coverage platform, Arbol, has announced the appointment of Deanne Nixon, a reinsurance consultant and former President and Chief Executive Officer (CEO), as Senior Advisor for Reinsurance. Nixon brings more than three decades o...
Posted: Apr 24, 2024
Pension Insurance Corporation plc (PIC) has launched a streamlined service called Mosaic, for small pension schemes looking to complete a buyout. According to the announcement, Mosaic will offer price monitoring as well as standard processes and c...
Posted: Apr 24, 2024
Lockton Re, the global reinsurance arm of the privately held independent insurance broker, has highlighted how a large cyber catastrophe event could have its benefits by pushing the market to work collaboratively and drive innovation and product d...
Posted: Apr 24, 2024
Alexander Roth has joined Howden Re International from legacy acquirer DARAG as Managing Director, Head of Capital and Operational Solutions Europe, effective May 1st, 2024. In his new role with the reinsurance broker, Roth will focus on retroacti...
Posted: Apr 24, 2024
Geo-coding and property intelligence expert, Addresscloud, has partnered with flood specialist JBA Risk Management to map the flood risk of over 280 million buildings across mainland Europe. With this new service, insurers, reinsurers, and brokers...
Posted: Apr 24, 2024
In its latest US Life & Health Insurance update, Moody’s analysts have highlighted improving capital risks transparency as regulators top priority as well as their concern regarding the increase in the use of offshore reinsurance by life insur...
Posted: Apr 24, 2024
DeNexus, a provider of cyber risk modelling solutions, has recently appointed industry veteran Isabelle Dumont as its new Chief Marketing Officer. In her new role, Dumont will lead the company’s global marketing initiatives, focusing on enha...
Posted: Apr 24, 2024
The insurance industry must use structured data and automation to address the issues derived from increasing incidents like extreme weather, economic or geopolitical events and cybercrime, M-Files highlights. In recent times, the world has witness...
Posted: Apr 24, 2024
Aspida, a life insurance and annuity company, has announced the appointment of two new hires, Jason Pedone as Chief Technology Officer and Derek Clinton as Director of Digital Product Management. These “strategic” new hires will play a pivotal rol...
Posted: Apr 24, 2024
Global commercial insurance rates climbed 1% in the first quarter of 2024, down from the 2% increase that was seen in the fourth quarter of 2023, according to the Global Insurance Market Index released by insurance broker and risk advisor and a bu...
Posted: Apr 24, 2024
Global broker BMS Group’s reinsurance division, BMS Re, has hired John Canavan as its new Chief Operating Officer (COO) in the US, reporting to Chris Brook, Group COO, and Andrew Wheeler, President of BMS Re. Canavan is a senior reinsurance...
Posted: Apr 24, 2024
Julie Briggs has been promoted to the role of vice president of Strategic Innovation and Emerging Markets and Asset Management Group Actuary, at Standard Insurance Company (The Standard). In her new role, she is expected to be responsible for the...
Posted: Apr 24, 2024
IQUW, the property and specialty re/insurer has launched FortiFI, the company’s new Financial Institutions (FI) wording featuring integrated cyber coverage, specifically tailored for US clients. According to the announcement, FortiFI will fo...
Posted: Apr 24, 2024
Specialist insurer Inigo Limited has surpassed $1 billion in gross written premium (GWP) in its third year of operation, as the company announces a significant, more than 400% rise in profit after tax of $144.5 million for the full year 2023. All...
Posted: Apr 24, 2024
Global insurer Chubb has reported a net income increase of 13.3% to $2.14 billion for the first quarter of 2024, supported by a stronger performance in both its property and casualty (P&C) and Life insurance businesses in the period. As well a...
Posted: Apr 24, 2024
Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs), has unveiled Prime Tech with Cowbell Co-Pilot, a generative AI solution built into the underwriting process of Prime Tech. Prime Tech is Cowbell’s adaptive...
Posted: Apr 24, 2024