Reinsurance News
Aspida Life Insurance Company (Aspida), a life insurance and annuity company, has recently partnered with Flourish, a financial products provider, to distribute the Aspida Advisory Multi-Year Guaranteed Annuity (MYGA). The Aspida Advisory MYGA off...
Posted: Mar 13, 2024
Starr Insurance is set to launch Twin Maples Specialty, a division of Starr Specialty Lines Insurance Agency, LLC, based in Alpharetta, GA, that will initially offer professional liability and financial lines products. Twin Maples, which is expect...
Posted: Mar 13, 2024
Arete Adjusting, LLC (Arete), a Third Party Administrator (TPA), and member company of insurance ecosystem +8 Partners, has launched operations the North American claims market. By utilising people, technology, and its fellow +8 member companies,...
Posted: Mar 13, 2024
According to the recent executive survey conducted by Conning Insurance Research on artificial intelligence (AI) adoption within the insurance industry, 77% of respondents indicated they are in some stage of incorporating AI into their operations....
Posted: Mar 13, 2024
Industry veteran Alexis Daniel has joined Everest Insurance International, a division of Bermuda-based insurer and reinsurer Everest Group, Ltd., as Head of Aviation. “We are excited to welcome Alexis DANIEL to Everest Insurance International® as...
Posted: Mar 12, 2024
In their Q423 Market Insights Outlook for Europe, the Middle East and Africa (EMEA), Aon has highlighted how inflation continued to pressure pricing amidst generally moderate market conditions, although natural catastrophe exposed property and oth...
Posted: Mar 12, 2024
In a recent court statement and tentative decision, the California Department of Insurance (CDI) prevailed in its efforts to prevent the California Insurance Company (CIC) from withdrawing from the California market, much to CIC’s frustratio...
Posted: Mar 12, 2024
According to Mohit Pande, CUO, Property, Swiss Re, assessing and adequately pricing for the risk of Strikes, Riots and Civil Commotion (SRCC) is crucial for insurers and reinsurers and an area that should continually improve. Writing in a company...
Posted: Mar 12, 2024
Ascendant Re, a Cayman Islands-based annuity reinsurer, recently disclosed its financial performance for the fourth quarter of 2023, revealing a total net income of $6.7 million. During Q4, the net book value per preferred share surged by 25.3% co...
Posted: Mar 12, 2024
According to AM Best, credit rating downgrades on US property & casualty (P&C) insurance companies climbed to 55 in 2023, compared with 30 in 2022, given the challenging conditions in the personal lines segment. The rating agency explained...
Posted: Mar 12, 2024
MS Amlin, the Lloyd’s global insurer and reinsurer, achieved its strongest adjusted combined ratio for more than a decade in 2023 with a 9.6 percentage point improvement to 86.6%, with Chief Executive Officer (CEO), Andrew Carrier, describin...
Posted: Mar 12, 2024
DUAL Europe recently announced the appointment of Guillaume Déal as the Managing Director of DUAL France, a strategic move aimed at further strengthening the company’s leadership team in France. In his new role, Déal will be based in Paris and wil...
Posted: Mar 12, 2024
Antares Syndicate 1274, the re/insurance subsidiary in the Lloyd’s market of QIC’s Antares Global, has seen improved financial results in 2023 with a 8.1% gross written premiums (GWP) growth and an improved combined ratio of 89.2%. Thi...
Posted: Mar 12, 2024
Evan Greenberg, CEO at Chubb, expresses confidence in the company’s ability to capitalise on favourable commercial P&C underwriting conditions globally, anticipating strong premium growth. In his 2023 letter to shareholders, Greenberg hi...
Posted: Mar 12, 2024
Heritage Insurance Holdings has reported a net income of $30.9 million for Q4 of 2023, up from $12.5 million in the same quarter of 2022, primarily driven by an increase in net premiums earned, higher net investment income, and lower net losses in...
Posted: Mar 12, 2024
Munich Re HealthTech (MRHT), a subsidiary of Munich Re, has promoted Bilal Ramadan to Chief Executive Officer. Ramadan will report to Owais Ansari Head of Munich Re Life & Health, MENA, Pakistan & Takaful Business. Ansari commented, “We co...
Posted: Mar 12, 2024
Hymans Robertson has revealed that total pension scheme buy-in and buy-out volumes for 2023 reached an all-time high figure of £50 billion, with both the number and value of transactions secured the highest ever recorded. The pensions and financia...
Posted: Mar 12, 2024
Italian insurer Generali generated a record operating performance of €6.9 billion in its full year 2023 results, an increase of 7.9% as a result of a positive contribution from all segments, led by Property & Casualty (P&C). Group-wide, th...
Posted: Mar 12, 2024
The impact of Generative Artificial Intelligence (GenAI) technology on the cyber landscape is expected to increase the frequency, severity, and diversity of attacks, and as the threats evolve, it’s imperative that the insurance industry take...
Posted: Mar 12, 2024
Global specialty and P&C (re)insurer Canopius Group has revealed its profit after tax for 2023 reached $363 million, up from $129 million in 2022, with a combined ratio for the year of 88.7%. Canopius’ insurance contract written premium...
Posted: Mar 12, 2024
Insurance services provider, Amynta Group, has completed the acquisition of Toronto-based Sutton Special Risk Inc., a managing general underwriter (MGU) of specialty insurance and reinsurance products. The transaction accelerates Amynta’s growth p...
Posted: Mar 12, 2024
Distinguished Programs (Distinguished), a national insurance program manager, has recently introduced its team of seasoned industry veterans for the newly established Executive Lines business. The Executive Lines business aims to set a new standar...
Posted: Mar 12, 2024
Global insurance brokerage WTW has disclosed that U.S. commercial insurance rates have sustained an upward trajectory exceeding 6% in Q4 2023. According to the Commercial Lines Insurance Pricing Survey (CLIPS) conducted by WTW’s Insurance Consulti...
Posted: Mar 12, 2024
Global Fintech company Acrisure has launched a new division integrating its wholesale property and casualty businesses under the new brand “Wholesure.” This division will include Wholesure, MGAs and Programs, Third-party Administrators, Individual...
Posted: Mar 12, 2024
Insurwave, an insurtech platform, has recently announced its new partnership with speciality re/insurer, Inigo. In this collaboration, Inigo will utilise Insurwave’s advanced technology and industry knowledge to establish and maintain a real-time...
Posted: Mar 12, 2024