Reinsurance News
The Supervisory Board of Allianz SE has confirmed that it has extended the mandates of Allianz SE Board of Management members Sirma Boshnakova and Günther Thallinger, through December 2029, subject to customary regulatory approvals. Boshnakova, is...
Posted: Mar 07, 2024
In a trading update for its full year 2023 financial performance, global insurance and reinsurance marketplace Lloyd’s has revealed its underwriting profit increased by £3.3 billion to £5.9 billion. Burkhard Keese, Lloyd’s CFO commented, “2023 was...
Posted: Mar 07, 2024
Hamilton Insurance Group, Ltd. has reported a combined ratio of 90.2% and underwriting income of $36 million for the fourth quarter of 2023, as the firm’s net income rose considerably to $127 million for the period. The insurer’s gross premi...
Posted: Mar 07, 2024
Tokio Marine HCC has invested into a CAD $4.3 million funding round, secured by Clir Renewables (Clir), a renewable energy intelligence platform for wind and solar. Longbow Capital Inc., ArcTern Ventures and BDC Capital also participated in the fu...
Posted: Mar 07, 2024
Global specialty broker Price Forbes has appointed Dan Nicholls to its energy leadership team, and Ray Spreadbury as Head of Renewables. Commenting on the appointments, Andrew Draycott, CEO – Energy, Transportation and Specie at Price Forbes...
Posted: Mar 07, 2024
Pension Insurance Corporation plc (PIC), the specialist insurer of defined benefit pension funds, concluded, in November 2023, full scheme buy-ins with the Trustees of three defined benefit pension schemes formerly sponsored by Thomas Cook Group,...
Posted: Mar 07, 2024
Liberty Mutual Holding Company Inc. has reported a net income of $213 million for the full year 2023, down substantially from the $414 million recorded in 2022, despite a strong end to the year. Liberty’s total net written premium for the full yea...
Posted: Mar 07, 2024
Prudential Financial and Reinsurance Group of America (RGA) have been selected for a pension risk transfer involving Verizon Communications, settling approximately $5.9 billion of Verizon pension liabilities and providing retirement security for a...
Posted: Mar 07, 2024
Insurance and reinsurance broker Aon has named Arshi Ahmed as the Global Head of Analytics for financial, professional and cyber products, and Ben Von Obstfelder as Head of U.S. Casualty Analytics, both for Commercial Risk. The broker stated that...
Posted: Mar 07, 2024
Specialist insurer Beazley has announced record pre-tax profit of $1.25 billion and a combined ratio of 71% for the year ended December 31st, 2023, with strong growth in the insurance service result of 52% and an investment return of 4.9%. Group p...
Posted: Mar 07, 2024
Ivans, a division of Applied Systems, recently released the February 2024 results from the Ivans Index, revealing that all major commercial lines experienced an increase in average premium renewal rates month over month. The Ivans Index is a data-...
Posted: Mar 07, 2024
Privilege Underwriters, Inc. and the affiliated companies of the PURE Group of Insurance Companies have announced two key leadership appointments: Drew Saad as Chief Underwriting Officer and Dea Malollari as Chief Risk Officer. Martin Leitch, CEO...
Posted: Mar 07, 2024
Managing general agent Parametrix, has expanded its capabilities to include real-time monitoring of the availability of Artificial Intelligence (AI) services to enable holistic business interruption insurance for the digital supply chain. Thanks t...
Posted: Mar 07, 2024
Falvey Insurance Group has unveiled a commercial output insurance policy that bundles commercial property and inland marine coverage. The policy has been crafted by the firm’s Inland Marine Managing General Agency (MGA), and is specifically...
Posted: Mar 07, 2024
Trading conditions at the January 1st, 2024, reinsurance renewals were much more stable than a year earlier, and with discipline maintained and a greater willingness from existing carriers to deploy, the outlook for 2024 is one of more stability a...
Posted: Mar 06, 2024
Home insurance firm Hippo has posted their results for the full-year 2023, which includes total generated premium (TGP) climbing from $811 million to $1.1 billion, representing a 40% increase from 2022. During the year, the company grew revenue si...
Posted: Mar 06, 2024
SCOR CEO Thierry Léger has revealed that the firm will stop underwriting US General Liability and Professional Indemnity single-risk business from Europe, deciding to only write it locally from the US in the future. Léger disclosed this informatio...
Posted: Mar 06, 2024
Property and specialty re/insurer IQUW has reported a combined operating ratio of 80.9% for the full year 2023, as gross written premiums reported increased by 35% year-on-year to $913 million. The firm explains that premium growth was primarily a...
Posted: Mar 06, 2024
S&P Global Ratings, the credit rating agency, has said that while they expect their ratings on Asia-Pacific insurers to remain stable, a combination of economic conditions and underlying changes are “pressuring earnings.” The agenc...
Posted: Mar 06, 2024
Allianz Commercial has recently appointed four regional distribution managers covering the South, North, London, Midlands, and the South West regions to enhance support for brokers across the UK. The appointed regional distribution managers are Vi...
Posted: Mar 06, 2024
Reinsurance broker Gallagher Re has announced the promotion of André Gerling to Head of Region for DACH, Netherlands and Central and Eastern Europe. He will take up this new position in June 1, 2024, when the current DACH leader, Hamish Dowlen, fo...
Posted: Mar 06, 2024
Mosaic Insurance has announced the launch of primary technology errors and omissions (E&O) coverage to protect tech companies from increasing liability risks. Offering up to $15 million in capacity via both its own Syndicate 1609 and a consort...
Posted: Mar 06, 2024
Malayan Insurance, one of the leading non-life insurance providers in the Philippines, has licensed Moody’s RMS Risk Modeler to help enhance its natural catastrophe risk analytics, the firm has revealed in a recent announcement. Risk Modeler is a...
Posted: Mar 06, 2024
Global data analytics and technology provider, Verisk is expanding its fraud-fighting capabilities with two new partners FRISS and Globlue Technologies. Both insurance technology companies will join the Verisk Claims Solutions ecosystem by integra...
Posted: Mar 06, 2024
Providing insight from the Association of Insurance and Financial Analysts (AIFA) conference 2024, analysts at KBW have noted that reinsurance executives remain very optimistic about the returns embedded in property catastrophe pricing, terms, and...
Posted: Mar 06, 2024