Reinsurance News
Global reinsurer Hannover Re has announced it will combine its global business in the areas of cyber and digital, creating a new specialty reinsurance business unit, effective from the 1st of April 2024. According to Hannover Re, the new business...
Posted: Mar 26, 2024
Specialty insurer Newline Group has expanded into Sydney with the opening of Newline Australia Insurance Pty Ltd, and has named Nicholas Beswick as Head of Professional Indemnity. “Establishing offices in key territories is part of our ongoing str...
Posted: Mar 26, 2024
Sompo International Holdings Ltd., a global property and casualty re/insurer, has joined The Association of Bermuda Insurers and Reinsurers (ABIR), increasing the number of members to 32 carriers and four intermediaries. The re/insurer’s entry was...
Posted: Mar 26, 2024
Bermuda-based reinsurer PartnerRe Ltd. has announced a non-life combined ratio of 81.6% for full year 2023, as the underwriting result hit $1.1 billion, while the life and health (L&H) allocated underwriting result amounted to $159 million. On...
Posted: Mar 26, 2024
FM Global, a commercial property insurer, has recently released its 2024 Resilience Index, highlighting the rapidly evolving nature of risks confronting global businesses with the addition of six new resilience factors. The FM Global Resilience in...
Posted: Mar 26, 2024
Verisk, a global data analytics and technology provider, has strategically integrated with Seek Now, a claims inspection service provider and business intelligence solution in residential and commercial property insurance. This integration aims to...
Posted: Mar 26, 2024
Marsh, the insurance broker and risk advisor subsidiary of Marsh McLennan, has reported that despite the slowest annual period for US dealmaking in six years, its North America team successfully placed 1,046 transactional risk policies. The broker...
Posted: Mar 26, 2024
Marsh, an insurance broker, risk advisor and business of Marsh McLennan, has unveiled Edgware Re Ltd., a group captive insurance company that has been created for organisations “seeking more control and stability in their cyber insurance pro...
Posted: Mar 25, 2024
Specialist re/insurance broker Miller has bolstered its Onshore energy practice team with four appointments, naming Adam Barber-Murray to lead the team as Head of Onshore. In this new role, Barber-Murray will focus on midstream and downstream oil...
Posted: Mar 25, 2024
According to a survey conducted by Gartner, the rapid growth and usage of generative artificial intelligence (GenAI) has led to a significant surge in the demand for comprehensive audit coverage of AI-related risks. In August 2023, Gartner surveye...
Posted: Mar 25, 2024
Global insurance provider RSA Insurance has appointed Tony Collman as the Property Director in its UK Specialty Lines business, effective immediately. Collman has been leading the Property business on an interim basis since December 2023, after Ne...
Posted: Mar 25, 2024
Global specialty re/insurer Chaucer has entered into the weather insurance market with a new parametric weather product to cover non-damage business interruption. The new product aims to provide coverage for weather-related losses for weather even...
Posted: Mar 25, 2024
Manulife Financial Corporation has agreed to reinsure CAD 5.8 billion (USD 4.4 billion) of reserves of low ROE Canadian universal life block to RGA Life Reinsurance Company of Canada. RGA Life Reinsurance Company of Canada, a subsidiary of global...
Posted: Mar 25, 2024
According to global credit rating agency AM Best, the US property & casualty (P&C) industry recorded a $21.2 billion net underwriting loss in 2023, which slightly improves upon the $24.9 billion loss recorded in the prior year. These preli...
Posted: Mar 25, 2024
Ageas SA/NV has stated that following the rejection of the two recent attempts to engage with the Board of Directors of Direct Line Insurance Group plc, it will not make an offer for the firm. Brussels-headquartered insurer Ageas was not able to i...
Posted: Mar 25, 2024
Bermuda-based Everest Group has promoted Jim Williamson to lead its reinsurance and insurance businesses. Williamson currently serves as Everest’s EVP, Group Chief Operating Officer and Head of the Company’s Reinsurance Division, where he has repo...
Posted: Mar 25, 2024
B.P. Marsh and Partners, the specialist private equity investor in early-stage financial services businesses, has completed the sale of its entire shareholding in Paladin Holdings Limited, the holding company of CBC UK Limited. B.P. Marsh has reve...
Posted: Mar 25, 2024
Saudi Reinsurance Company (Saudi Re) has announced the appointment of Ahmed Al-Jabr as Acting Chief Executive Officer of the Company, effective April 1, 2024. The company’s board members greenlighted the appointment on March 15, 2024, while the in...
Posted: Mar 25, 2024
Independent specialist re/insurance broker BMS has bolstered its financial and professional risks (Finpro) division by hiring Tom Spraggs, Richard Austwick, and Tom Woolcott, who will each join the division following the fulfilment of their contra...
Posted: Mar 25, 2024
In a move aimed at fostering a conducive insurance regulatory environment and aiding the systematic development of the country’s reinsurance sector, the Insurance Regulatory and Development Authority of India (IRDAI) has announced the approv...
Posted: Mar 25, 2024
Independent specialist re/insurer Apollo has partnered with Munich Re Syndicate Limited (MRSL) and Tokio Marine HCC International (TMHCCI) to lead its recently launched Lloyd’s Marine Builders’ Risk Consortium. Apollo’s new consortium, which went...
Posted: Mar 25, 2024
Guy Carpenter, a global risk and reinsurance specialist and business of Marsh McLennan, has appointed Ben Savill as CEO of Pacific, effective from the 1st of April, 2024. Savill holds more than 27 years of market experience, having most recently s...
Posted: Mar 25, 2024
FTI Consulting has published its European Insurance M&A Barometer Report for 2023, revealing that despite increasing interest rates, the year remained highly active for insurance mergers and acquisitions (M&A) throughout Europe. FTI Consul...
Posted: Mar 25, 2024
Insurity, a provider of cloud software for insurance carriers, brokers, and MGAs, has partnered with OIP Robotics (OIPR), an Insurtech data and software solutions lab, to transform data processing within P&C insurance through artificial intell...
Posted: Mar 25, 2024
Web Connectivity Limited (WCL), a wholly owned subsidiary of insurtech provider Zywave, has agreed to supply its ACORD4ALL mappings to Velonetic, a joint venture between Lloyd’s, tech firm DXC and the International Underwriters’ Associ...
Posted: Mar 25, 2024