Reinsurance News
Summit has recently secured $3.5 million in seed funding, marking a significant step towards its long-term objective of building the commercial insurance brokerage of the future. This investment was led by IA Capital Group, with additional funding...
Posted: Apr 09, 2024
As per a new Berenberg report, reinsurers and alternative capital providers have become increasingly confident in deploying more capital to grow in the hard market following a record year in 2023. According to Berenberg, this dynamic is currently...
Posted: Apr 09, 2024
WTW, the global re/insurance broker has announced that Mary J. Bahna-Nolan has joined the firm as a Senior Director on the North American Insurance Consulting & Technology (ICT) team, where she will be based in Chicago. In the role, she will r...
Posted: Apr 09, 2024
Ardonagh Advisory has expanded its presence in the northwest of England with the recent acquisition of Southport Insurance Brokers Limited (SIB Insurance), an independent commercial broker. Founded in 1965, SIB Insurance is a well-established regi...
Posted: Apr 09, 2024
GeoVera Insurance Holdings, Ltd. has announced its plans to sell its managing general agent business, GeoVera Advantage Insurance Services, Inc., to SageSure; once the deal closes, a new entity named GeoVera Nova Holdings, Inc. (GeoVera Nova) will...
Posted: Apr 09, 2024
Latin Re, the Brazilian independent reinsurance brokerage, has appointed Diogo Costa as the Head of Oil & Gas and Construction. This appointment aims to strengthen the broker’s market position in the Latin American market, consolidating its re...
Posted: Apr 09, 2024
Catastrophe bond issuance in the first quarter of 2024 reached a huge $4.23 billion, which is a record for the opening quarter of the year, and comes in 30% above the Q1 2023 total and 37% above the 10-year average for the quarter, according to ou...
Posted: Apr 09, 2024
Global insurtech Novidea has raised an additional $30 million from HarbourVest Partners, bringing its total Series C round to $80 million, joining existing investors Battery Ventures, Cross Creek, Israel Growth Partners (IGP), KT Squared, and JAL...
Posted: Apr 09, 2024
Corebridge Financial, a quoted subsidiary of American International Group, Inc (AIG) has completed the sale of its UK life insurance business, operating as AIG Life Limited (AIG Life UK), to Aviva for £453 million. The sale was previously announce...
Posted: Apr 09, 2024
In a recent interview with Reinsurance News, Wenzhe Sheng, Senior Product Manager for EMEA Prudential Regulations at Clearwater Analytics, discussed the latest developments on technical regulation and how that is impacting insurers in the European...
Posted: Apr 09, 2024
Pantheon Specialty Limited has appointed Howard Green, former Chairman of Besso Insurance Group Limited, to its Board, subject to regulatory approval. If you recall, B.P. Marsh invested in Pantheon in June of 2023, alongside its Founder and CEO Ro...
Posted: Apr 09, 2024
USQRisk, an international managing general agent (MGA) specialising in alternative risk transfer and unique risk solutions, has announced the appointment of Ashleigh Sears as Head of Casualty. Having joined the USQRisk team on April 2, Sears will...
Posted: Apr 09, 2024
Analysis by reinsurance brokerage Gallagher Re finds that, on average, reserve releases benefited reinsurance company combined ratios by 1.8% in 2023, a small increase on 2022’s 1.4%, which is far lower than 2014-2018 levels. The contribution of r...
Posted: Apr 09, 2024
Allianz Global Corporate & Specialty SE (AGCS), Allianz Group’s carrier for large corporate and specialty insurance, has announced it is to focus on U.S. Large Corporate and Specialty insurance with the sale of its U.S. MidCorp and Entertainme...
Posted: Apr 09, 2024
Lockton Norway AS has announced a series of key leadership changes within the company, including Anders Johannessen becoming CEO of Lockton’s Norway business from May 1, 2024. The company has confirmed that his predecessor Cato Aamodt will remain...
Posted: Apr 09, 2024
Cytora, a digital risk processing platform, has partnered with TradeAtlas, a global trade data company, to provide marine insurers with extensive import and export data for quicker and more precise risk assessments. Juan de Castro, Chief Commercia...
Posted: Apr 09, 2024
CoreLogic estimates insurable losses from the 7.2 magnitude earthquake that hit Taiwan on April 3, 2024 will be between $5.0 and $8.0 billion. This is considered the largest quake to hit the country in the last 25 years. Having occurred at 7.58 am...
Posted: Apr 09, 2024
Optalitix, the specialist data analytics solutions provider, is strategically partnering with First Street, a provider of physical climate risk data, to help insurers incorporate its unique United States datasets into their underwriting process. O...
Posted: Apr 09, 2024
Property Claim Services (PCS), a division of Verisk, has designated the Baltimore Bridge collapse incident, caused by the container ship Dali striking one of its support columns, under its Global Marine & Energy product. The division’s p...
Posted: Apr 09, 2024
Brown & Brown, Inc., an insurance brokerage firm, has appointed David Putz as Executive Vice President, Arrowhead General Insurance Agency, and Niels Seebeck as the President of Arrowhead’s Risk Managers Program. Putz’s remit as EVP of A...
Posted: Apr 09, 2024
Jensten, a UK brokerage and underwriting firm, has announced its acquisition of Scrutton Bland Insurance Brokers, aimed at enhancing its ability to provide high-quality broking services across multiple sectors. The acquisition brings onboard a tea...
Posted: Apr 09, 2024
Accredited, program management business operating across the US, UK and Europe, has appointed Grace Meek as the President of Accredited America, based out of New York, effective April 8th, 2024. She will report to William Spiegel, Chief Executive...
Posted: Apr 09, 2024
In contrast to last year’s renewal, April 1 in India reportedly saw a resurgence in property catastrophe capacity, with reinsurers demonstrating an increased appetite to grow their books, according to a new report from Aon. Despite this excess cap...
Posted: Apr 08, 2024
PURE Specialty Exchange (PSE) has recently extended its High Value Homeowners coverage to six additional states: Arizona, Colorado, Hawaii, Montana, Utah, and Wyoming. This coverage caters to homes situated in areas susceptible to coastal hazards,...
Posted: Apr 08, 2024
Active Re, a provider of reinsurance solutions for financial institutions, has announced the promotion of Robert Ali to the position of Chief Operating Officer (COO). In his new capacity, Ali will maintain his role as a key advocate and leader in...
Posted: Apr 08, 2024