Reinsurance News
Bermuda-based insurer and reinsurer, AXIS Capital Holdings Limited, has promoted Edward Ashby to the newly created position of Chief Commercial Officer, in addition to his current role as the Global Head of Distribution for insurance. With his new...
Posted: Feb 29, 2024
In Swiss Re’s recent report highlighting key insights from the insurance-linked securities (ILS) market in 2023, the firm observed a surge in new sponsors entering the catastrophe bond market, alongside the return of several sponsors after a perio...
Posted: Feb 29, 2024
Leadership members of actuarial consultancy OAC have addressed the Prudential Regulation Authority’s (PRA) recently published Policy Statement on Solvency II, the prudential regulatory framework for insurers and reinsurers. If you recall, in...
Posted: Feb 29, 2024
A new managing general agent (MGA) platform, Blue Ocean Reinsurance Group, has recently been announced, based in the Cayman Islands. This platform aims to support current and incoming reinsurers to the Cayman Market, as well as larger, complex cap...
Posted: Feb 29, 2024
Chedid Re’s Shukri Abou Jaoude has been appointed to the role of Deputy General Manager at Chedid Re Lebanon, in addition to his current role as Senior Director for the Health, Life, and Travel Treaty Division. Shukri has been with Chedid Re...
Posted: Feb 29, 2024
Montoux, a provider of AI and actuarial modelling technology has launched Model Copilot, a generative AI copilot designed specifically for actuaries to transform actuarial work by automating the most time-consuming aspects of model documentation a...
Posted: Feb 29, 2024
Assured Guaranty, a financial guaranty insurer, has announced its financial results for the fourth quarter of 2023 reporting an increased net income of $376 million compared to the $94 million reported in the same period the year prior. According...
Posted: Feb 28, 2024
AXIS Capital has announced the appointment of Stephen Lord as Global Chief Information Officer (CIO) and Robert Barriero as Global Head of Strategic Sourcing and Corporate Real Estate. In his new role as Global CIO, Lord will report directly to CE...
Posted: Feb 28, 2024
In a recent analysis, Fitch Ratings forecasts that the UK life sector will maintain its cautious approach towards funded reinsurance (Funded Re) for bulk annuity transactions, keeping its usage below 30% of premiums from 2024 to 2026. This strateg...
Posted: Feb 28, 2024
Brussels headquartered insurer Ageas has confirmed that it is in the initial stages of considering a possible offer to acquire the entire issued and to be issued share capital of UK insurer Direct Line Insurance Group Plc. According to Ageas, the...
Posted: Feb 28, 2024
LOOP, a Public-Benefit Corporation and Artificial Intelligence-powered auto insurer, has successfully renewed its reinsurance program and will go into effect for an extended 15-month term. The renewed program is led by the same tier-one reinsurers...
Posted: Feb 28, 2024
Financial services holding company Ambac has posted a net loss of $16 million and an adjusted net income of $10 million for the fourth quarter of 2023. Included in the company’s Q423 results is Everspan, the organisation’s specialty pr...
Posted: Feb 28, 2024
Lemonade, a digital insurance firm powered by AI, has reported a 20% year-on-year rise in in-force premium to $747 million for the fourth quarter of 2023, while its gross loss ratio fell 12% to 77% in the quarter. Lemonade’s customer count increas...
Posted: Feb 28, 2024
The Geneva Association (GA) and Wellcome have recently published a joint report providing a clear framework for understanding how climate change impacts people’s health. This report also offers recommendations for health and life insurance c...
Posted: Feb 28, 2024
International insurance group Ageas has reported an improved reinsurance segment combined ratio of 84.1% for 2023, which is considerably stronger than the 103.3% seen in 2022, attributed to significantly lower claims. Year-on-year, Ageas Re’...
Posted: Feb 28, 2024
PoloWorks, a member of the Marco Capital Group, has launched PoloPartners, a joint venture combining the expertise, capability and experience of PoloWorks and PwC UK. PoloPartners has been created to provide the insurance market with a bespoke, te...
Posted: Feb 28, 2024
In a recent report by Morgan Stanley’s analyst team, it’s estimated that social inflation caused $13.3-24.5 billion of excess losses for commercial auto liability from 2013-2022, accounting for 7-13% of total losses in the period. On a...
Posted: Feb 28, 2024
Fusion Specialty (Fusion), a global specialist in M&A insurance and a subsidiary of POP Group Holdings, has appointed Steven Harwood as Managing Partner for M&A in the Asia Pacific (APAC) region. In this new role, Harwood will lead Fusion&...
Posted: Feb 28, 2024
LIIBA, the representative body for London market insurance brokers, has named Andy Bragoli, Global Head of Placement at Howden, as its new chair. At a meeting of LIIBA’s board in February, Bragoli took over the role from Alastair Swift of WTW, who...
Posted: Feb 28, 2024
The Swiss Re Institute has predicted that climate change will have a larger impact on economic losses in the future, with the US and Philippines anticipated to be the hardest hit. As per the firm’s report, four key weather perils, namely flo...
Posted: Feb 28, 2024
Credit insurer Coface has reported its full-year 2023 results, with flat net income at €240.5 million and underwriting income growth of more than 13% to €395.4 million and a combined ratio, net of reinsurance, of 64.3%. Alongside flat net income,...
Posted: Feb 28, 2024
Ryan Specialty has reported full year 2023 revenue of around $2.08 billion, up 20.4%, compared to the $1.73 billion reported in 2022. The firm’s adjusted net income also increased in 2023, growing 20.4% to $375.6 million, compared to $312 mi...
Posted: Feb 28, 2024
Barbuss a provider of specialised financial, claims services and specialised coverage for the risk industry, has announced that it has acquired 100% of the shares of KVDS, an independent marine surveyor based in Antwerp, Belgium. From what we unde...
Posted: Feb 28, 2024
According to credit ratings agency AM Best, a staggering number of insurers are relying on outside asset managers to handle a portion of their investment portfolios. In a recent report released by the firm, it highlights that the percentage of lif...
Posted: Feb 28, 2024
ReSource Pro, a provider of business process solutions for the insurance industry, has appointed Ernie Feirer to the position of Senior Vice President (SVP), Carrier Practice. In this role, he will lead a team of expert insurance professionals ded...
Posted: Feb 28, 2024