Reinsurance News
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
Auto and homeowners insurer State Farm has announced its 2023 financial results, reporting earned premium of $87.6 billion and a combined underwriting loss of $14.1 billion across its P&C group of companies. This result compared to an underwri...
Posted: Mar 05, 2024
As per a report from analysts at BMO Capital Markets, a prominent reinsurance broking executive from Howden Tiger has suggested property-catastrophe reinsurance pricing power will fall 5-10% at mid-year contract renewals. The comments from the How...
Posted: Mar 05, 2024
Marsh McLennan Agency (MMA), a subsidiary of Marsh, has completed its previously announced acquisitions of two Louisiana-based middle-market agencies, Querbes & Nelson (Q&N) and Louisiana Companies. With the closing of these acquisitions,...
Posted: Mar 05, 2024
American Coastal Insurance Corporation (ACIC), the property and casualty insurance holding company, has reported a $14.3 million net income attributable to the firm for the fourth quarter of 2023, compared to a net loss of $296.8 million for the...
Posted: Mar 05, 2024
Specialty MGA UK has expanded its global expertise with the appointment of Duncan Urquhart as Senior Underwriter for Construction and Engineering. Urquhart holds over four decades of experience, having spent most of his career in London, Hong Kong...
Posted: Mar 05, 2024
AM Best’s recent market segment report highlights the challenges facing the directors and officers liability insurance (D&O) sector in the US. The risks associated with D&O have significantly increased amid the ever-evolving business world...
Posted: Mar 05, 2024
Everest Insurance International, a division of Bermuda-based insurer and reinsurer Everest Group, Ltd., has hired Giles Coghlin as Head of Fine Art and Specie, where he will be based in London. He joins the firm following a two year tenure at Aviv...
Posted: Mar 05, 2024
Lockton Re, the reinsurance arm of the privately held independent insurance broker, has appointed Brian Lewis as Senior Broker leading the Cyber Practice for North America, based in the firm’s New York office. Lewis has deep expertise in cyb...
Posted: Mar 05, 2024
Miller, the independent specialist re/insurance broker posted its results for the full-year 2023, which included record revenues of £240 million, representing a 26% increase from 2022, driven by 19% organic growth and positive contribution from 20...
Posted: Mar 05, 2024
Gallagher has appointed Nick Harris as CEO of its UK & Ireland Retail Division, subject to regulatory approval. Harris joins Gallagher from Marsh, where he was CEO of its Pacific Division, a position he took up when the business purchased JLT...
Posted: Mar 05, 2024
Hiscox Re & ILS, the international reinsurance and insurance-linked securities (ILS) arm of the Hiscox Group, has revealed an undiscounted combined ratio of 69.8% for the full year 2023, and a record profit before tax of $221.4 million in R...
Posted: Mar 05, 2024
Juniper Re, the reinsurance broking arm of BRP Group, has received approval in principal from the Bermuda Monetary Authority (BMA) to launch its Bermuda-domiciled subsidiary Juniper Re Bermuda, Ltd., which will be led by Chris Hayward as Head of O...
Posted: Mar 05, 2024
In the Q4 2023 report by The Council of Insurance Agents & Brokers (CIAB) on the Commercial Property/Casualty Market, premium increases have persisted for the 25th consecutive quarter, but at a slower rate. The average increase across all acco...
Posted: Mar 05, 2024
Life insurer and asset manager Aegon has announced its second half 2023 financial results, reporting a net result of €0 million, and a net loss of €199 million for the full-year. At the same time, the Netherlands-headquartered insurer revealed it...
Posted: Mar 05, 2024
Re/insurance broker Aon has announced that Suzanne Hughes has joined the company as Head of Credit Solutions, Ireland. In the role, she will hold responsibility for leading Aon’s Credit Solutions business and client strategy in Ireland, in c...
Posted: Mar 05, 2024
Helios, the investment vehicle which provides shareholders with a spread participation at Lloyd’s, has appointed Adhiraj Maitra to the newly created role of Chief Operating Officer (COO). Maitra joins Helios from Canopius where he served as Group...
Posted: Mar 05, 2024
Allianz, a leading insurer and asset manager, has completed the acquisition of Tua Assicurazioni S.p.A. from Assicurazioni Generali S.p.A., an Italian global insurance and asset management provider. The acquisition was announced in October 2023, a...
Posted: Mar 05, 2024
African Risk Capacity Limited (ARC Ltd.), the parametric insurer and financial affiliate of the ARC Group, has paid out over $170 million in claims to support vulnerable communities since its inception. Founded in 2014, ARC Ltd. celebrates its 10t...
Posted: Mar 04, 2024
Aon, a global professional services firm, has named Roman Romeo as Chief Executive Officer (CEO) of its Reinsurance Solutions Bermuda unit, effective April 1, 2024. The company has also confirmed that Tony Fox, CEO and Chairman of Reinsurance Solu...
Posted: Mar 04, 2024
Having already burned more than a million acres, the record-breaking Texas Smokehouse Creek fire is set for further expansion, with officials noting more than 500 structures have been destroyed. Hot and windy conditions have facilitated and accele...
Posted: Mar 04, 2024
Provider of re/insurance solutions, AXIS Capital Holdings Limited, has announced the Energy Resilience Syndicate 2050 has now received full approval from Lloyd’s and will begin underwriting from April 1, 2024. Created to provide capacity for new e...
Posted: Mar 04, 2024