Reinsurance News
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
Oman Re, the sole reinsurer in the Sultanate of Oman, has announced it has obtained a Retakaful licence by the Capital Market Authority. Granted on 22 February 2024, the licence empowers Oman Re to establish Retakaful operations, further solidifyi...
Posted: Mar 06, 2024
At about 4% of assets, the European insurance sector faces low exposure to the rising risks of commercial real estate (CRE), according to Fitch Ratings, with most insurers facing minimal risk to capital or ratings from falling CRE valuation. Fitch...
Posted: Mar 06, 2024
Sompo Holdings, Inc. has appointed Koji Takahashi to replace Emiko Maki as the Chief Risk Officer (CRO) and Head of Reinsurance for Sompo Japan, effective April 1st, 2024, reporting to Koji Ishikawa, President of the core subsidiary. Maki steps do...
Posted: Mar 06, 2024
Property and casualty insurer The Hartford has announced a new organisational structure combining its Operations and and Technology, Data, Analytics & Cyber functions under one leadership to advance the company’s strategy. As part of this new...
Posted: Mar 06, 2024
Howden has acquired Hencilla Canworth GI Ltd, a leading British independent specialist performing arts insurance broker, reportedly adding further scale and product expertise to its Sport and Entertainment division. The addition of Hencilla Canwor...
Posted: Mar 06, 2024
Legal & General (L&G) has posted their full-year results for 2023, which included an operating profit of £1.67 billion, a slight increase from the previous year’s £1.63 billion. Post-tax profit meanwhile decreased more than 40% to £4...
Posted: Mar 06, 2024
Talanx Group’s Retail International Division, headed by HDI International AG, has completed the acquisition of the business of Liberty Seguros in Chile, Colombia and Ecuador, making it the second-largest property and casualty insurer in Lati...
Posted: Mar 06, 2024
Greenlight Capital Re, Ltd. has reported a Q4 2023 combined ratio of 91.4% compared to 94.2% in the prior year quarter, as the current-year loss ratio improved by 3.8% to 54.7% driven by improved pricing on the in-force underwriting book. The rein...
Posted: Mar 06, 2024
Lancashire Holdings has revealed its overall profit after tax for 2023 was $321.5 million, resulting in a change in diluted book value per share of 24.7% and marking a massive improvement compared to 2022’s loss of $15.5 million. The firm...
Posted: Mar 06, 2024
Insurance and reinsurance broker Aon has announced the appointment of Darren T. Oliver as Head of Philippines, Thailand and Vietnam, with immediate effect. In his new role, based in Manila, Philippines, Oliver will be responsible for leading the n...
Posted: Mar 06, 2024
French reinsurer SCOR has reported net income of €162 million for the fourth quarter and a record €812 million for the full year 2023, as the P&C combined ratio strengthened in both periods on the back of lower catastrophe losses. Net income f...
Posted: Mar 06, 2024
U.S.-based mortgage insurance specialist NMI Holdings has appointed Aurora Swithenbank as Executive Vice President (EVP) and Chief Financial Officer (CFO), effective May 1, 2024. Swithenbank will succeed Ravi Mallela, who has held the role since 2...
Posted: Mar 06, 2024
Sapiens International Corporation, has announced its strategic expansion in the Canadian market, bolstering its workforce and expertise to foster continued growth and innovation for regional customers. Sapiens has been successfully serving leading...
Posted: Mar 06, 2024
Credit insurer Coface has announced the launch of its 2024-2027 strategic plan, Power the Core, with a view to develop a global ecosystem of reference for credit risk management. With the new plan, Coface looks to build upon the successes of the p...
Posted: Mar 06, 2024
Charles Taylor, an international loss adjusting firm, recently announced the appointments of Bob Battoo as Managing Director, Asia Pacific (APAC) – Aviation, and Dennis San Jose as Resident Technical Manager – Aviation Asset Management. This strat...
Posted: Mar 06, 2024
ICEYE, a provider of natural catastrophe solutions and insights, successfully launched three additional synthetic aperture radar (SAR) satellites on March 4th, 2024. These SARs include a 1200 MHz radar bandwidth in-orbit technology demonstrator th...
Posted: Mar 05, 2024
AXIS Capital Holdings Limited, the global specialty underwriter and provider of re/insurance solutions, has hired Simon Dejung as Chief Underwriting Officer, Global Cyber & Technology (GCT), effective immediately. In the role, he will be based...
Posted: Mar 05, 2024
Kay International AMEA Limited, an independent underwriting managing agency and reinsurance brokerage, has established a wholly owned subsidiary in Singapore, with the aim of expanding its facultative and treaty reinsurance broking and placement s...
Posted: Mar 05, 2024
Global re/insurance broker, WTW, has announced the addition of three strategic hires, within the Private Equity and Transactional Solutions team, which include Daniel Kesack as Director of Contingent Solutions, Shirley Chin as Head of Tax Insuranc...
Posted: Mar 05, 2024
Mustard Underwriting Pty Ltd (Mustard), a specialist MGA, recently announced its new partnership with Sovereign Insurance Australia (SIA). Through this partnership, Mustard has gained financial backing and underwriting support. This means Mustard...
Posted: Mar 05, 2024
Analysts at Moody’s Investors Service expect demand for reinsurance protection to remain strong in 2024 but warns that while reinsurers have scope to push through further price increases, as competition intensifies in the sector, prices will...
Posted: Mar 05, 2024
Morningstar DBRS recently published a commentary highlighting the under-representation of women in management positions within the UK insurance sector, despite companies implementing several initiatives to counteract this trend. According to data...
Posted: Mar 05, 2024
In the recent 2024-25 Budget speech, Hong Kong’s Financial Secretary, Paul Chan Mo-po, highlighted plans to promote Hong Kong as a platform for the issuance of insurance-linked securities (ILS). He stated, “We are also promoting the development of...
Posted: Mar 05, 2024