Reinsurance News
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
FWD Group, a pan-Asian life insurance business, has announced it is extending its partnership with Microsoft to provide access to the latest generative artificial intelligence (AI) innovations, while continuing to support FWD’s cloud-first t...
Posted: Feb 28, 2024
David Loughran has been promoted to Chief Operating Officer (COO) of Praedicat, the liability emerging risk analytics company. Loughran, who previously served as Praedicat’s Senior Vice President of Product & Chief Economist, has been wi...
Posted: Feb 28, 2024
Several multilateral financial organisations have collaborated to establish the Alliance of African Multilateral Financial Institutions (AAMFI), under the patronage of Nana Addo Dankwa Akufo-Addo, the President of Ghana. This significant initiativ...
Posted: Feb 28, 2024
In a recent earnings call, Munich Re CEO Joachim Wenning highlighted the imperative need for governmental intervention in the face of escalating cybersecurity threats, shedding light on the limitations of private insurance in covering these risks....
Posted: Feb 27, 2024
Chubb, in collaboration with the National Center for the Middle Market (NCMM), has unveiled the latest insights from the 2023 Year-End Middle Market Indicator (MMI), shedding light on the resilience and growth of middle market companies amidst a b...
Posted: Feb 27, 2024
The Stonybrook Capital and Weild & Co. North American Insurance Composite showed a notable increase of 1.5% during the week of February 16th-23rd, maintaining its record setting performance from the preceding week (Feb 9th-16th), which saw a r...
Posted: Feb 27, 2024
Steadfast Group, a leading Australian insurance brokerage network, announced a 21.4% increase in unaudited underlying Earnings Before Interest, Taxes, and Amortization (EBITA) for 1H24 compared to the same period last year. The underlying EBITA wa...
Posted: Feb 27, 2024
Global insurance provider RSA Insurance has announced a number of changes to its Commercial Lines leadership team, who will lead the combined business following the acquisition of NIG/FarmWeb. In September 2023 RSA agreed to acquire Direct Line’s...
Posted: Feb 27, 2024
To compete against international reinsurers’ better prices, and increase profitability, insurers in countries part of the Commonwealth of Independent States (CIS), will likely grow their reinsurance business, but this would also bring new risks, a...
Posted: Feb 27, 2024
Rating agency AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Marco Re Limited (Guernsey), simultaneously assigning a stable outlook to these ratings. Macro Re, a wholl...
Posted: Feb 27, 2024
Swiss Re, a global reinsurance firm, recently released a report highlighting key insights from the insurance-linked securities (ILS) market in 2023, which emphasises a surge in new issuance and strong investment performance in the catastrophe bond...
Posted: Feb 27, 2024
Global specialty broker Price Forbes appointed Sarah Horler as its new Deputy Chief Executive Officer, effective May 2024. Horler’s appointment marks a significant addition to the leadership team of Ardonagh Specialty’s insurance segme...
Posted: Feb 27, 2024
After another year of more than $100 billion of insurance and reinsurance industry losses from natural catastrophes in 2023, and with no major influx of fresh capital, the hard market environment is expected to persist, according to Munich Re̵...
Posted: Feb 27, 2024
AXA XL has announced that it’s US Mid-Market insurance business is extending its general liability coverage for mid-size businesses by rolling out its new XL Plus broadening endorsement, which offers more than two dozen expanded protections....
Posted: Feb 27, 2024
K2 Insurance Services, an independent specialty insurance program manager, has announced the appointment of Richard Coello as CEO of K2 Group Holdings Limited (K2 International), effective March 1, 2024. Coello has a successful track record of bui...
Posted: Feb 27, 2024
In the latest update from Gallagher Specialty on the global property insurance market, significant shifts are noted, particularly in the USA region. Reports indicate smoother treaty renewals towards the end of the year, with reinsurers largely mai...
Posted: Feb 27, 2024
CDPQ has revealed it will sell 2,312,000 common shares of Intact Financial Corporation (IFC), representing approximately 1.3% of the issued and outstanding common shares of IFC as of February 26, 2024. According to CDPQ, the common shares are bein...
Posted: Feb 27, 2024
CRC Group, a North American wholesale specialty insurance distributor, has appointed Vince Colosimo as Executive Vice President in the company’s New York City Downtown office. The firm also announced that Colosimo will assume the role of Office Pr...
Posted: Feb 27, 2024
Amphitrite Underwriting London (Amphitrite), a prominent marine Managing General Agent (MGA), has obtained full authorization from the UK Financial Conduct Authority (FCA), effective as of January 31, 2024. Having commenced operations in 2018, Amp...
Posted: Feb 27, 2024
Global Fintech company Acrisure has announced the establishment of its Southeast Region, which will be led by Dave Hoover and is expected to be the firm’s largest Region by revenue. The new Southeast Region encompasses Acrisure’s busin...
Posted: Feb 27, 2024
Munich Re, one of Europe’s largest reinsurers, has reported a net result of €4.6 billion for the 2023 financial year, which is above its revised €4.5 billion profit target announced in October, supported by a reinsurance result of €3.9 billi...
Posted: Feb 27, 2024
White Mountains Insurance Group, Ltd. has announced the election of Reid T. Campbell to its Board of Directors. This follows his retirement as President of the Company. This marks the conclusion of a remarkable thirty-year tenure at White Mountain...
Posted: Feb 27, 2024