Reinsurance News
Capital management of South Korea insurers are expected to continue to feel pressured due to the implementation of new standards, such as Korean-Insurance Capital Standards (K-ICS) and IFRS 17, according to a recent report by AM Best. The agency’s...
Posted: Feb 27, 2024
WTW, a global re/insurance broker, has recently launched the Bermuda Excess Casualty Construction Facility to meet the needs of clients within the construction industry, specifically in the North American market. This new facility offers additiona...
Posted: Feb 27, 2024
Australian insurer QBE has named Kevin Shallow as Executive Director for International Markets (IM). Subject to regulatory approvals, he will start his new role on March 4th, 2024. Previously, Shallow developed QBE’s portfolio solutions underwriti...
Posted: Feb 27, 2024
MSL Captive Solutions, Inc (MSLCS), the managing general underwriter, has hired Sue Russo as Chief Underwriting Officer (CUO), effective immediately. Russo joins the firm from Voya where she previously led the successful launch of the company̵...
Posted: Feb 26, 2024
UnipolSai, an Italian financial services company, recently announced that its Board of Directors has approved a plan aimed at streamlining the company’s structure. This plan involves merging UnipolSai with three other companies—Unipol Financ...
Posted: Feb 26, 2024
Insurance and reinsurance broker Aon has hired Ralf Mutzke as Director Cyber Security – M&A and Transaction Advisory Services at Aon Deutschland. A renowned figure across the industry, Mutzke is a seasoned cyber security expert having wo...
Posted: Feb 26, 2024
Sedgwick, the global provider of technology-enabled risk, benefits and integrated business solutions, has revealed that efforts tied to the organisation’s international claims fraud strategy saved its clients £49.4 million in 2023. Q123 saw...
Posted: Feb 26, 2024
Executive Chairman Ron Lockton is returning to the role of Chief Executive Officer of Lockton has, the independent insurance broker has recently announced. “The Lockton Board of Directors, Mr. Lockton and former CEO Peter Clune have mutually agree...
Posted: Feb 26, 2024
Global re/insurer Markel Group Inc. has announced the transition of Mike Heaton to Executive Vice President and Chief Operating Officer (COO), effective immediately. He will continue to report to Tom Gayner, Chief Executive Officer and be based in...
Posted: Feb 26, 2024
Qatar General Insurance and Reinsurance has announced its 2023 financial results reporting a net loss of nearly QR 1.465bn, compared to a loss of QR 532.113mn in 2022. The Qatar-based company also reported unrealized losses of QR 1.6bn, compared t...
Posted: Feb 26, 2024
Clients with excellent loss experience should feel a lot more optimistic going into their 2024 renewals, according to Mark Hubbard, Managing Director, Global Property, Gallagher Specialty. Speaking in the firm’s global property insurance mar...
Posted: Feb 26, 2024
Clyde & Co’s Insurance Growth Report has revealed that mergers and acquisitions (M&A) activity worldwide in the insurance sector was down in 2023, reaching the lowest level for a decade. According to the firm, there were 346 completed M...
Posted: Feb 26, 2024
According to a new report from Morgan Stanley, relative to other sub-sectors of insurance, reinsurers “continue to have a solid path”, generating strong ROE, with robust underwriting and steady premium growth. Morgan Stanley noted that...
Posted: Feb 26, 2024
Acrisure Re, the reinsurance division of fintech company Acrisure, has announced the appointment of Jim Botsis as Head of Chicago, and his addition to the North American Executive Committee. Botsis is to take over his new role immediately. He will...
Posted: Feb 26, 2024
Australian primary insurer Suncorp Group Limited has reported a rise in group net profit after tax (NPAT) of 5.4% to $582 million, as General Insurance gross written premium (GWP) rose 16.3% to $6.9 billion on the back of customer growth, targeted...
Posted: Feb 26, 2024
The latest Insurance Labor Market Study, conducted by the insurance recruiting firm, The Jacobson Group, in collaboration with re/insurance broker, Aon, provides insights into the staffing trends within the insurance industry for 2024. According t...
Posted: Feb 26, 2024
Barents Re, an independent reinsurance group, has announced the appointment of Gary Callaghan as its new Chief Executive Officer (CEO), with founder Gerardo Garcia assuming the role of Executive Chairman of the company. These appointments were app...
Posted: Feb 26, 2024
Goosehead Insurance, Inc., an independent personal lines insurance agency, has announced the transition of Mark Jones from Chairman and Chief Executive Officer (CEO) to Executive Chairman of the company, effective July 1st, 2024. Mark Miller, Pres...
Posted: Feb 26, 2024
Florida Peninsula Insurance Company announced the appointment of Nancy Staff as its new Director of Corporate Compliance. With a wealth of experience in law and compliance, Staff is poised to enhance the company’s adherence to regulations an...
Posted: Feb 26, 2024
Cayman Islands-based reinsurer Topsail Re has announced the appointment of Joe Ciriano, a seasoned IT professional, as its new IT Director. Ciriano started his career as a Member of the Technical Staff at AT&T in 1984, holding positions of inc...
Posted: Feb 26, 2024
According to S&P Global Ratings’ latest analysis of the Latin American (LatAm) insurance landscape, the forecast for 2024 suggests a challenging economic outlook due to an anticipated slowdown in global economic growth. S&P predicts...
Posted: Feb 26, 2024
Davies, the specialist professional services and technology business, has made two key senior promotions amidst definitive plans to rebrand Johns Eastern, the specialist third-party administration (TPA) and independent adjusting firm. This is in l...
Posted: Feb 26, 2024
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has reported net underwriting earnings across its re/insurance operations of $5.4 billion for the full year 2023 compared with a loss a year earlier. The positive return...
Posted: Feb 25, 2024
Cover Whale Insurance Solutions, Inc., an insurtech specializing in connected insurance for the commercial auto industry, has appointed Bill Fahrner as Chief Underwriting Officer (CUO), where he will lead the digitally-driven underwriting process....
Posted: Feb 23, 2024
Trust in e-commerce is uneven, while companies have less confidence in digital platforms when selling their goods, consumers are more comfortable using them, according to a Chubb report, which also revealed shopper’s confidence in making an online...
Posted: Feb 23, 2024