Reinsurance News
As per Christie Lee, senior director – head of analytics, AM Best, a significant amount of losses from the 7.2 magnitude earthquake that recently struck Taiwan could come from business interruption (BI) coverage. The earthquake, which hit near the...
Posted: Apr 04, 2024
Striior Insurance Solutions, a managing general agent (MGA) specialising in builder’s risk, has partnered with Green Shield, a US-based catastrophe risk mitigation specialist, to improve performance and support strategic growth through “unmatched...
Posted: Apr 04, 2024
Global mergers and acquisitions (M&A) activity saw a modest rise in completed deals during the first quarter of 2024 compared to the same period last year, according to research from WTW’s Quarterly Deal Performance Monitor (QDPM). Data has re...
Posted: Apr 04, 2024
Amwins has launched Amwins InstantQuote (Amwins IQ), an online marketplace providing rapid access to firm, bindable quotes from multiple carriers, aiming to combine the convenience of online quoting with the scale of the nation’s largest P&#...
Posted: Apr 04, 2024
Aon, the global insurance and reinsurance broker, has released its latest Reinsurance Market Dynamics report, revealing that the 1/1 and April 1 2024 renewals set the stage for a more comprehensible market for reinsurance buyers throughout mid-yea...
Posted: Apr 04, 2024
Berkshire Hathaway Specialty Insurance (BHSI), has announced the appointment of Chres Lee as Head of Transactional Liability in Canada. Lee brings to her new role 15 years of combined professional experience in Law, Executive Management and Commun...
Posted: Apr 04, 2024
MultiStrat, the specialist underwriter and reinsurance investment platform, has deployed $1.75 billion in capital through its deals so far and is targeting further “significant growth” in 2024. At the same time, the firm has reached the 10 year an...
Posted: Apr 04, 2024
The Florida insurance market continues to strengthen, showing signs that recent legislation is having positive impacts on the property insurance market, according to the state’s Insurance Commissioner Michael Yaworsky. Yaworsky’s comme...
Posted: Apr 04, 2024
Suncorp Group Limited has signed a share sale and purchase agreement with Resolution Life NOHC, Resolution Life Group’s holding company in Australia and New Zealand (Resolution Life) to sell its New Zealand life insurance business, Asteron Life Li...
Posted: Apr 04, 2024
ICEYE, the global provider of satellite-powered disaster management solutions, has signed a new contract with the Centers for Disease Control and Prevention (CDC) to provide it with access to ICEYE Flood Insights for events across the US and its t...
Posted: Apr 04, 2024
Juniper Re, the reinsurance broking arm of BRP Group, has partnered with Canopy Weather to offer customised severe storm event response analytics to Juniper Re clients. Severe weather occurrences such as tornadoes, hailstorms, and strong winds can...
Posted: Apr 04, 2024
French reinsurer CCR Re has appointed Maxime Krumholz as a Non-Life Underwriter, where he will join the Northern Europe and the Central & Eastern Europe Non-Life teams within the firm’s Underwriting Department. Most recently, Krumholz se...
Posted: Apr 04, 2024
Specialist insurer Pension Insurance Corporation plc (PIC), has completed an £870 million full buy-in of the De Beers UK Pension Scheme. The bulk annuity transaction for the scheme, which is sponsored by diamond company De Beers UK, has fully secu...
Posted: Apr 04, 2024
Ascot Group has appointed Charles Craigs as Managing Principal overseeing the firm’s Third-Party Capital initiatives in Bermuda. Craigs holds experience across management, underwriting, capital, and operations functions, and joins Ascot from...
Posted: Apr 04, 2024
Global specialty and P&C insurer and reinsurer, Canopius Group, has hired Soon Keen Lee as Chief Executive Officer (CEO) of Asia Pacific (APAC) and Middle East & North Africa (MENA), reporting to Canopius Group CEO Neil Robertson. The appo...
Posted: Apr 04, 2024
US insurance and investment firm, Prudential Financial, Inc. has successfully completed a major reinsurance transaction with Somerset Re involving a portion of its guaranteed universal life insurance block. The transaction, previously announced in...
Posted: Apr 04, 2024
Arch Insurance Group Inc., has announced the promotion of Joe Morello to the role of Executive Vice President, Head of E&S Property. Prior to his appointment, Morello, who has over three decades of experience, served as SVP E&S Property at...
Posted: Apr 04, 2024
Global re/insurance broker Howden has entered into an agreement to acquire OFRACAR, an independent brokerage group headquartered in Rouen. Established in 1964 by Jean-Pierre Lecomte, OFRACAR is a broker based in Normandy, that specialises in prope...
Posted: Apr 04, 2024
Manulife Financial Corporation has successfully closed the previously announced transaction to reinsure a low ROE Canadian Universal Life block with RGA Life Reinsurance Company of Canada. If you recall, the transaction was announced last month, w...
Posted: Apr 04, 2024
Tokio Marine HCC – Cyber & Professional Lines Group (CPLG) has announced three key appointments to its leadership team, aimed at strengthening its position in the dynamic cyber and professional lines insurance market. Patrick Gallic has been n...
Posted: Apr 04, 2024
UK broker and underwriter Jensten has announced the acquisition of Henry Seymour & Co., a deal that will enhance its capacity to offer specialist products to clients with niche requirements. Henry Seymour & Co is a specialist insurance bro...
Posted: Apr 03, 2024
According to analysts at Fitch Ratings, major European commercial insurers will likely see their underwriting margins peak in 2024, followed by a gradual weakening. Throughout 2023, these insurers continued to enhance the profitability of their bu...
Posted: Apr 03, 2024
Munich Re has announced the appointment of Klaus Wilkens as the new president and CEO for Munich Reinsurance Company of Canada and Temple Insurance Company, the reinsurer’s agency affiliate in the country. An experienced leader with a strong mix o...
Posted: Apr 03, 2024
Moody’s RMS, the global catastrophe risk modeling and solutions company, has strategically collaborated with innovative reinsurance brokerage firm Augment Risk, to develop the market for parametric risk transfer. The collaboration aims to serve a...
Posted: Apr 03, 2024
Generali has completed the acquisition of Conning Holdings Limited (CHL) and its affiliates from Cathay Life, a subsidiary of Cathay Financial Holdings, one of the largest Asia-based financial institutions. The acquisition includes Conning, focuse...
Posted: Apr 03, 2024