Reinsurance News
Global specialty underwriter and provider of re/insurance, AXIS Capital Holdings Limited, has announced the appointment of Kyle Freeman as Head of AXIS ILS, effective immediately. In his new role, Freeman will be responsible for overseeing AXIS Ca...
Posted: Mar 21, 2024
Moody’s Investors Service analysts underscore the positive impact of the EU’s Insurance Resolution and Recovery Directive (IRRD) on policyholders. The IRRD, an EU-wide legislative framework set to be implemented in 2026, aims to uphold financial s...
Posted: Mar 21, 2024
With artificial intelligence (AI) practically impacting all aspects of everyday life, the number of insurance gaps when using AI has staggered in recent years. Reinsurance giant Munich Re highlighted this in a recent whitepaper that showcased how...
Posted: Mar 21, 2024
State Farm General Insurance Company has announced that it will non-renew approximately 30,000 California homeowners, rental dwelling, and other property insurance policies. If you recall, last May, the insurer halted new homeowners policies being...
Posted: Mar 21, 2024
US-based property and casualty insurer Westfield has announced the appointment of Stuart Rosenberg to the newly-created position of President of Standard Lines. In his new role, Rosenberg will provide strategic leadership to the personal insurance...
Posted: Mar 21, 2024
Gabriel, a technology company tackling mass shootings and workplace violence threats, has partnered with specialty re/insurance group Chaucer and crisis management specialists Merrill Herzog to offer a mass shooting insurance product. Designed to...
Posted: Mar 21, 2024
Saudi Reinsurance Co. has signed reinsurance contracts with Probitas Corporate Capital Ltd, the ultimate holding company of the Probitas Group, with a duration of one year from January 1st, 2024. The estimated gross written premium (GWP) value is...
Posted: Mar 21, 2024
Zurich Insurance has partnered with travel and leisure e-commerce platform Klook to introduce FlyEasy coverage, which, powered by Zurich Edge platform with micro-services from Blink Parametric, aims to reduce customer stress from long flight delay...
Posted: Mar 21, 2024
Talanx Group, the parent company of Hannover Re, has disclosed a record group net income of €1.58 billion for 2023, surpassing its original earnings forecast. Talanx also revealed that its insurance revenue rose to €43.2 billion in 2023, up from €...
Posted: Mar 21, 2024
Health & safety has emerged as the most important risk facing directors and officers (D&O) in 2024, with risk associated to cyber attacks falling to second place, according to broking and solutions company WTW and global law firm, Clyde &#...
Posted: Mar 21, 2024
Bermuda-headquartered SiriusPoint Ltd., a global specialty re/insurer, has strategically partnered with NIP Group, a specialty insurer, to establish a new Excess and Surplus (E&S) program underwriting platform. This collaboration aims to cater...
Posted: Mar 21, 2024
Guy Carpenter, the reinsurance broking business within Marsh McLennan, highlights the importance of understanding how cyber catastrophe models respond to various scenarios in its latest cyber research study. In the reinsurance broker’s study, it e...
Posted: Mar 21, 2024
Agile Underwriting Services has received ‘in-principle’ approval from the Lloyd’s insurance and reinsurance marketplace to create Agile Syndicate 2427 (AUS 2427), and anticipates writing £34.1 million of gross written premium (GWP) for the 2024 ye...
Posted: Mar 21, 2024
Sure revealed that 71% of insurance industry decision-makers are dissatisfied with the level of effort to get updated insurance programs off the ground and launched digitally, despite the widespread use of legacy rate service organisations (RSOs)...
Posted: Mar 21, 2024
Moody’s Ratings has assigned a B3 corporate family rating and a B3-PD probability of default rating to the Charlotte domiciled, Truist Insurance Holdings, LLC (TIH), with a stable rating outlook. The rating company has also assigned a B2 rating to...
Posted: Mar 21, 2024
Analysis by CoreLogic estimates that 1-inch or greater hail fell on over 660,000 homes between March 13th and 14th in the central United States, causing material and destructive property damage. Dozens of severe convective storms (SCS) formed acro...
Posted: Mar 20, 2024
Vienna Insurance Group (VIG), an insurer in the Central and Eastern European region, has announced the appointment of Christoph Rath as a deputy member of the Managing Board. Rath, who currently is the Chief Financial Officer (CFO) of the Czech co...
Posted: Mar 20, 2024
In a move to help drive back a developing insurance crisis across the state of California, that has witnessed companies pulling back on underwriting property insurance there, or exiting the state completely, Insurance Commissioner Ricardo Lara has...
Posted: Mar 20, 2024
P&C insurance software provider Duck Creek Technologies, has announced the launch of Duck Creek Payments in the North American market, a cloud-based Software as a Service (SaaS) solution. This cutting edge product, Duck Creek stated, is to tra...
Posted: Mar 20, 2024
In a recent report conducted by Spanish insurer MAPFRE, a framework of actions is presented for insurers to consider in anticipation of potential advancements in Generative Artificial Intelligence (AI), aimed at mitigating risks and fostering a po...
Posted: Mar 20, 2024
According to analysts at Goldman Sachs, the moderating pricing momentum in the Property and Casualty (P&C) sector has persisted in the early months of the year and is expected to continue throughout 2024. Goldman comments, “Price momentum has...
Posted: Mar 20, 2024
Despite growth expected for cyber insurance in 2024, actuarial consultancy OAC – part of the Broadstone Group – predicts a mixed market outlook in the year as there are some areas of concern that could lead to a major loss event and ha...
Posted: Mar 20, 2024
Coterie Insurance, an insurtech managing general agent (MGA), has recently secured $27 million in new capital investment from Hiscox, alongside various existing investors. Expressing gratitude for this investment, David McFarland, CEO of Coterie,...
Posted: Mar 20, 2024
Independent reinsurance broker, Holborn Corporation (Holborn), has recently announced the appointment of Luke Kwiatkowski to Senior Vice President (VP) and Chief Financial Officer (CFO). In his role as CFO, Kwiatkowski will oversee all financial a...
Posted: Mar 20, 2024
The Clear Group has posted its latest annual results to October 31, 2023, which showed strong growth through acquisition and underlying operating profit. According to the firm, revenue increased by 31.7%, reaching £74.7 million, compared to last y...
Posted: Mar 20, 2024