Reinsurance News
Managing General Agent Devonshire Underwriting has today announced its market launch, focussed on “positively disrupting” the transactional risk (TR) insurance space. The MGA will be led by four founders and partners – Natasha Attray,...
Posted: Apr 02, 2024
Natural catastrophes caused US $65 billion economic losses in the Asia Pacific region in 2023, according to global professional services firm, Aon. In their recently published 2024 Climate and Catastrophe Report, Aon highlighted how there were 398...
Posted: Apr 02, 2024
Holborn Corporation (Holborn), an independent reinsurance broker, has appointed Christopher McGrath to the position of Senior Vice President (SVP), Client Solutions. In his new role, McGrath will collaborate with Holborn’s client-facing teams to e...
Posted: Apr 02, 2024
Active insurance pioneer Coalition has announced that its full-stack carrier, Coalition Insurance Company (CIC), is now quoting for its admitted cyber product across the entire United States. Through CIC, the US admitted carrier wholly owned by Co...
Posted: Apr 02, 2024
Global reinsurer Ariel Re, has announced the promotion of 13 staff in its Bermuda and London offices, a move that underlines its mission to become an ‘academy firm’, which will support and develop talent in the reinsurance industry. The new promot...
Posted: Apr 02, 2024
French reinsurer CCR Re has reported a 2.1 percentage point improvement in its combined ratio for 2023 to 96.6%, despite the cost of natural catastrophes, net of retrocession, rising by €53 million year-on-year to €88 million. Gross, natural catas...
Posted: Apr 02, 2024
Fleming Insurance Holdings CEO Eric Haller has suggested that while the firm will continue to defend itself against the “meritless lawsuit” recently filed by James River Group Holdings, Fleming remains willing to acquire JRG Re “...
Posted: Apr 02, 2024
Arthur J. Gallagher & Co., a global insurance brokerage, has recently acquired two Florida-based companies: Specialty Risk Management Services, LLC, and Private Client Insurance Services, LLC, both located in Fort Myers. Specialty Risk Managem...
Posted: Apr 02, 2024
As per the CRESTA Industry Loss Index (CLIX), which provides data on non-US cat events that have generated industry losses above USD $1 billion, the Noto Peninsula Earthquake that struck Japan on January 1, 2024, is the only event that was added t...
Posted: Apr 02, 2024
Sompo, a global provider of commercial and consumer property and casualty re/insurance, has announced the appointment of Kenneth Reilly as Chief Executive Officer (CEO), Insurance, for the Asia Pacific region, succeeding Daniel Neo who is to retir...
Posted: Apr 02, 2024
As the fallout from the collapse of the Baltimore bridge last Tuesday continues, analysts at Fitch Ratings have said that although a tragic disaster with significant economic repercussions, the event will have a limited impact on individual reinsu...
Posted: Apr 02, 2024
AmRisc, a coastal commercial property insurance subsidiary of Truist Insurance Holdings, has raised $325 million of capacity for an insurance sidecar Trouvaille Re Ltd., supported by Stone Point Capital. The sidecar will reportedly provide collate...
Posted: Apr 02, 2024
According to global consultancy Bain & Company, insurance organisations across the globe have a $50 billion financial opportunity from generative AI (GenAI) to harness the technology in ways that could boost their revenues by as much as 20%, a...
Posted: Apr 02, 2024
According to global consultancy Bain & Company, insurance organisations across the globe have a $50 billion financial opportunity from generative AI (GenAI) to harness the technology in ways that could boost their revenues by as much as 20%, a...
Posted: Apr 02, 2024
Aspen has revealed that net income available to ordinary shareholders increased significantly in 2023, climbing to $485 million, while its combined ratio improved 5.5 points to 87.5%. Meanwhile, Aspen’s underwriting result for the full year...
Posted: Apr 02, 2024
Reinsurers continued to take on more property catastrophe risk at the April 1st, 2024, reinsurance renewals, which led to an increase in available capacity to meet growing demand in an overall more stable environment, according to Gallagher Re. Re...
Posted: Apr 02, 2024
Verisk, a global data analytics and technology provider, has appointed Greg Hendrick as an independent director of its Board of Directors, effective immediately. Lee Shavel, President and Chief Executive Officer, Verisk commented on the appointmen...
Posted: Apr 02, 2024
The Pacific Catastrophe Risk Insurance Company (PCRIC) and the United Nations World Food Programme (WFP) have partnered aiming to reinforce disaster risk financing in the Pacific region. A Memorandum of Understanding (MoU) has been signed by PCRIC...
Posted: Apr 02, 2024
Core Specialty has been highlighted as being Duck Creek Technologies’ first customer transacting its Duck Creek OnDemand subscription on Microsoft’s commercial marketplace to use its existing Microsoft Azure Consumption Commitment (MACC). In...
Posted: Apr 02, 2024
KGM, DUAL UK’s specialist motor MGA, has appointed Ciaran Astin as its Managing Director, subject to regulatory approval. The MGA noted that this appointment is in line with its strategy to attract industry-leading talent to realise its growth amb...
Posted: Apr 02, 2024
Insurtech Faura has successfully raised $500k to help insurance companies and homeowners reduce their natural disaster risk. Cities throughout the US have been impacted by natural catastrophes, like wildfires in Maui and flooding across the Northe...
Posted: Apr 02, 2024
Insurtech Faura has successfully raised $500k to help insurance companies and homeowners reduce their natural disaster risk. Cities throughout the US have been impacted by natural catastrophes, like wildfires in Maui and flooding across the Northe...
Posted: Apr 02, 2024
W. R. Berkley Corporation has announced that its Union Standard Insurance Group is rebranding to Berkley Southwest to better reflect its commitment to serving the needs of clients and partners in the U.S. Southwest. Berkley Southwest, led by presi...
Posted: Apr 02, 2024
The April 1st, 2024, reinsurance renewals were “more predictable and generally favorable to reinsurance buyers,” with pricing broadly flat for property catastrophe reinsurance, according to insurance and reinsurance broker Aon. AonR...
Posted: Mar 28, 2024
Emerald Bay Risk Solutions, a collaborative underwriting carrier, has formally launched with a significant strategic investment from Bain Capital Insurance, the dedicated insurance investing unit of Bain Capital. Led by Dave Ingrey as Chief Execut...
Posted: Mar 28, 2024