Reinsurance News

As Iran’s attacks on Israel risk an escalation, and with the ongoing Israel-Hamas conflict expected to persist, risks to insurers remain, although, at present, insurers in Israel, the Gulf region, and Europe are not significantly affected, a...

Posted: Apr 18, 2024

Guy Carpenter, the reinsurance broking arm of Marsh McLennan (MMC), recorded a 7% rise in revenue in the first quarter of 2024 to $1.1 billion, as MMC President and CEO, John Doyle, welcomes a “terrific start” to 2024 for the global br...

Posted: Apr 18, 2024

Markel, the insurance operations within Markel Group Inc., has announced the promotion of Chloe Gordge to Head of Terrorism in London, effective immediately. In her new role, Gordge will lead the day-to-day running of Markel’s London Terrori...

Posted: Apr 18, 2024

Speciality re/insurance managing general agent (MGA) Rokstone, which is part of the Aventum Group, has launched a free Directors & Officers (D&O) Limits of Indemnity (LOI) Calculator, designed to support brokers partners. The MGAs new tool...

Posted: Apr 18, 2024

High net worth insurance specialist PURE Insurance has revealed that its direct combined ratio for 2023 fell to 102.2%,  an improvement compared to the last two years, mainly due to stricter underwriting guidelines, pricing enhancements, and manag...

Posted: Apr 18, 2024

Lloyd’s insurer AEGIS London has announced the hire of a new underwriting team to focus on building a ‘profitable cyber portfolio’ and strengthen its position in the cyber market. Daniel Johnson has been appointed to the role of class underwriter...

Posted: Apr 18, 2024

Convex Group, the international specialty insurer and reinsurer, has reported its first annual net profit since inception, announcing 2023 net income of $503.2 million, a significant improvement on the $142.2 million loss seen in 2022. The 2023 ne...

Posted: Apr 18, 2024

Munich Re is to strengthen its P&C underwriting teams in Asia Pacific, Middle East & Africa (APAC MEA) with a revised set-up, which includes two regional divisions and personnel changes at the senior executive level. As Chief Executive, Hi...

Posted: Apr 18, 2024

Nationwide’s Ting program has reached a 50,000 home milestone demonstrating a positive impact on engagement and prevention to reduce fire and water loss risk, the insurance services company has stated. The Ting program was launched in 2022 in part...

Posted: Apr 18, 2024

The Global Federation of Insurance Associations (GFIA) has expressed its concerns over the proposal by the United Nations Tax Committee, a group of experts on international cooperation in tax matters that would revise a UN Model Convention and hel...

Posted: Apr 18, 2024

McGill and Partners, a global specialty insurance and reinsurance broker, has announced the appointment of Faye Adamou as a Partner in its Financial Lines team. Adamou has been with McGill and Partners since 2020, initially serving as an Associate...

Posted: Apr 18, 2024

PwC has achieved Guidewire Migration Acceleration Specialization to speed insurers’ move to Guidewire Cloud with lower transitioning costs delivery and improved delivery of quality and predictability. In order to gain specializations, either regio...

Posted: Apr 18, 2024

American International Group, Inc. (AIG), a global insurer, has appointed Ryan Thomas as the Head of Financial Lines, Asia Pacific, based out of Singapore. Thomas has over 20 years of underwriting experience. The insurer stated that, “Ryan brings...

Posted: Apr 18, 2024

The World Bank has issued $420 million in catastrophe bonds for renewed disaster risk protection for the Government of Mexico. The cat bond, which will finance insurance coverage against named storm events along the Atlantic coast of Mexico and ea...

Posted: Apr 17, 2024

Liberty Mutual Insurance has announced that it has formed a new international insurance business division, set to be led by Phil Hobbs, who serves as President and Managing Director, Liberty Specialty Markets. The new division, dubbed Liberty Inte...

Posted: Apr 17, 2024

The build-up of stuck vessels following the Francis Scott Key Bridge collapse will likely give rise to substantial cargo claims, according to Nick Evans, Insurwave’s Head of Product. For those in need of a refresher, on March 26th 2024, the contai...

Posted: Apr 17, 2024

Following the response Ageas Re received from the market in its inaugural year of operation, the company is now looking to expand its portfolio with opportunities in the Casualty space. Ageas stated: “As a key engine for future growth Ageas Re rem...

Posted: Apr 17, 2024

ICEYE, the global provider of satellite-powered disaster management solutions, has signed a definitive agreement for an oversubscribed $93 million growth funding round, led by Solidium Oy. The firm aims to use the funds raised to further accelerat...

Posted: Apr 17, 2024

Moody’s Investors Service analysts highlight that chief financial officers (CFOs) from leading European insurers maintain a cautious sense of optimism regarding profitability, despite facing challenges such as sluggish economic growth and increase...

Posted: Apr 17, 2024

Primary insurance group Travelers has published its first quarter 2024 financial results, reporting 16% growth in net income despite an elevated level of catastrophe losses compared to the prior year quarter. The insurer saw its net income rise to...

Posted: Apr 17, 2024

Specialist insurance provider, CFC, has agreed to acquire Australian managing general agent (MGA), Solution Underwriting, in a move that is set to expand the company’s footprint in Australia. Headquartered in Melbourne, with offices located...

Posted: Apr 17, 2024

The Global Shield against Climate Risks has supported climate-vulnerable communities of Pacific Island Countries (PICs) through a €10 million contribution by the German Ministry for Economic Cooperation and Development (BMZ), dedicated to the Paci...

Posted: Apr 17, 2024

Everest Insurance International, a division of Bermuda-based insurer and reinsurer, Everest Group, Ltd. has hired American International Group’s (AIG) David Ho as Head of Financial Lines, Asia. Overall, Ho brings over 25 years of financial l...

Posted: Apr 17, 2024

Swiss Re is welcoming Fiona Kiernan to its Life & Heath Continental Europe team as the new Regional Head of Underwriting and Claims, effective July, 2024. In her new role, based in Zurich, Kiernan will be responsible for the development of the...

Posted: Apr 17, 2024

Covéa has reported a net income of €1.48 billion in 2023, up from €896 million in 2022, mainly driven by its reinsurance result, which was bolstered by the full-year integration of PartnerRe. Covéa’s net income from reinsurance activities in...

Posted: Apr 17, 2024