Reinsurance News
SageSure, a managing general underwriter focused on catastrophe-exposed markets, and SureChoice Underwriters Reciprocal Exchange (SURE) have announced the close of the Gateway Re 2024-1 catastrophe bond at $250 million. According to SageSure, this...
Posted: Mar 27, 2024
Corvus Insurance, a cyber speciality insurer, has improved its policy renewal process by introducing an application-free, click-and-bind option for eligible accounts. This update will significantly reduce brokers’ time spent on cyber renewal...
Posted: Mar 27, 2024
Analysts at Moody’s Investors Service report that the four largest European reinsurers—Munich Re, Swiss Re, Hannover Re, and SCOR — achieved a combined earning of €10.2 billion in 2023, more than double their earnings in 2022, attributed to higher...
Posted: Mar 27, 2024
According to the Louisiana Department of Insurance Commissioner, Tim Temple, the state must modernise its regulatory framework and fix its broken legal environment to prevent its ongoing insurance crisis from getting worse. Temple observed in a re...
Posted: Mar 27, 2024
The German operations of global reinsurer SCOR has partnered with DGTAL, to launch a pilot using the DRILLER platform and its claims assessment function for the assessment of disability claims starting in April 2024. An AI-powered portfolio tool,...
Posted: Mar 27, 2024
Active cyber insurance provider Coalition has added a new Affirmative Artificial Intelligence (AI) Endorsement to clarify what is covered by the company’s US Surplus and Canada Cyber Insurance policies. According to the announcement, the end...
Posted: Mar 27, 2024
As per research conducted by PwC UK, global non-life run-off reserves are estimated to have reached $1.014 trillion, marking a $53 billion increase since its last survey published in September of 2022. Respondents to PwC UK’s recent survey of non-...
Posted: Mar 27, 2024
Verisk Speciality Business Solutions (Verisk SBS), a re/insurance software specialist, has recently announced the appointment of Taha Ahmed to the senior position of Director of Pricing Solutions. In this newly established position, Ahmed will ove...
Posted: Mar 27, 2024
Brit Ltd., a global speciality re/insurer and subsidiary of Fairfax Financial Holdings Limited, has reported a combined ratio for the full year 2023 for continuing business after discounting of 76.2%, a solid improvement on 2022’s 88.5%, as the in...
Posted: Mar 27, 2024
WTW, a global re/insurance broker, has recently partnered with the University of Geneva to assess global systemic risks arising from large volcanic eruptions. This collaboration aims to assist WTW and its clients in anticipating the potential impa...
Posted: Mar 27, 2024
The collapse of the Francis Scott Key Bridge near the Port of Baltimore, Maryland yesterday is expected to drive billions of dollars in insured losses, with reinsurers set to bear the bulk of the claim amid concerns it could become the largest eve...
Posted: Mar 27, 2024
Howden, a global re/insurance broker, has outlined concerns regarding reserves stemming from unexpected rises in claims costs and higher inflation. Wolfram Schultz, Head of Casualty for Continental Europe at Howden Tiger, shares his insights on re...
Posted: Mar 27, 2024
Specialty insurance carrier Relm Insurance has hired Chris Sinkey as Chief Operating Officer, a newly created role. Sinkey reportedly holds 20 years of experience in strategy, product, corporate development, marketing, and business development acr...
Posted: Mar 27, 2024
Pool Re, a British government-backed terrorism reinsurer, has announced that its members and HM Treasury have backed the formal proposals from its Board to transform the current Pool Re scheme after more than two years of engagement and consultati...
Posted: Mar 27, 2024
Home insurance firm Hippo’s First Connect Insurance Services, a digital platform for independent agents to provide access to top carriers, has strategically partnered with Hiscox USA, and subsequently hit the 100-carrier and MGA milestone. H...
Posted: Mar 27, 2024
Berkshire Hathaway Specialty Insurance (BHSI), the property & casualty insurer, has promoted Daniela Peeters to Head of Customer & Broker Engagement in Germany. Peeters, who joined the organisation in 2023, previously served as Customer &#...
Posted: Mar 27, 2024
Climate mitigation and adaptation is essential to continue reducing emissions to counter hazard intensification, and public-private partnerships play a key role in funding and enabling this, according to Ivo Menzinger, Head EMEA, Public Sector Sol...
Posted: Mar 26, 2024
Pension Insurance Corporation plc (PIC), a specialist insurer of defined benefit pension funds, has completed a full scheme buy-in with the Trustee of the 2013 Next Group Pension Plan for £510 million. The bulk annuity transaction represents the s...
Posted: Mar 26, 2024
Global credit rating agency AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) to Incline’s new Excess and Surplus (E&S) insurer, Incline Amer...
Posted: Mar 26, 2024
Seeing cars and trucks as likely targets for hackers and cyber thieves, specialty insurer HSB has introduced Cyber for Auto, a new coverage aimed at helping consumers respond to new exposures. According to HSB, passenger vehicles built after 2020,...
Posted: Mar 26, 2024
Independent insurance broker Lockton has announced Manpreet Gill is joining its technology specialty to build and grow a practice focused on developing creative solutions to address a variety of technology-related risks for businesses. Gill brings...
Posted: Mar 26, 2024
Marsh, the insurance broker and risk advisor subsidiary of Marsh McLennan, has launched a new global insurance facility providing coverage up to $825 million for digital asset custodians. Developed by Marsh Specialty’s Digital Asset team, this fac...
Posted: Mar 26, 2024
Managing general agency (MGA) Sertis has completed an oversubscribed seed funding round, raising $3.2 million for further growth in the multifamily insurance sector. The seed funding round, the MGA highlighted, demonstrates recognition from the in...
Posted: Mar 26, 2024
The California FAIR Plan Association (FAIR Plan) has experienced historic growth in recent years, as data shows its total exposure has nearly tripled with continued policy growth. This last resort property insurer is dedicated to ensuring that all...
Posted: Mar 26, 2024
Enstar Group has revealed that S&P Global Ratings has assigned an Insurer Financial Strength Rating of ‘A’ with a stable outlook to its Bermuda-based, wholly-owned subsidiary, Cavello Bay Reinsurance Limited. Matthew Kirk, Enstar’s Chief Finan...
Posted: Mar 26, 2024