Reinsurance News
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
Rating agency AM Best has revised Fidelis Insurance Holdings Limited and its subsidiaries’ outlooks to stable from negative. AM Best explained that the negative outlook it placed on the ratings in 2023 was based on the execution risk related...
Posted: Feb 23, 2024
AXA XL, the P&C and specialty risk division of global insurer AXA, has announced the promotion of Simon Price to Head of M&A & Title – UK & Lloyd’s. Price has been with the company for seven years, and has held several manage...
Posted: Feb 23, 2024
German property and casualty (P&C) insurers are grappling with mounting pressure due to surging reinsurance expenses, impacting both profitability and operational strategies, as highlighted by S&P Global Ratings, signaling potential adjust...
Posted: Feb 23, 2024
Global aircraft leasing firm AerCap Holdings has collected over $600 million of insurance settlements over the fourth quarter of 2023, for a total of $1.3 billion collected during 2023. “During the fourth quarter of 2023, we recognized recoveries...
Posted: Feb 23, 2024
In a joint effort to address the pressing issue of maritime sustainability, marine insurance experts are calling for closer collaboration with shipowners to develop decarbonisation strategies. A white paper, co-authored by underwriting firm Atrium...
Posted: Feb 23, 2024
Arturo, a property specialist offering AI-based solutions to insurers, has announced the appointment of Jeffrey Taylor as Chief Strategy Officer, as the firm prepares to expand into adjacent markets. Taylor brings a great deal of experience to thi...
Posted: Feb 23, 2024
Venture Insurance Programs has chosen Vortex Weather Insurance, an insurtech specialising in weather risk management for outdoor venue hosts and golf clubs, to be their sole provider of parametric weather insurance policies. This agreement represe...
Posted: Feb 23, 2024
Zurich Asia Pacific (APAC), part of the global insurance group, has recently announced its results for the full year of 2023. The report highlights significant growth in its Property & Casualty (P&C) sector. Throughout 2023, the P&C bu...
Posted: Feb 23, 2024
Insurance giant Allianz has reported a record operating profit of €14.7 billion for the full year 2023, an increase of 6.7% from €13.8 billion in the previous year, driven primarily by the Life/Health (L&H) business segment. Group-wide, total...
Posted: Feb 23, 2024
Global credit ratings agency AM Best has confirmed that it has revised the outlook to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICRs) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term IC...
Posted: Feb 23, 2024
Mosaic Insurance has announced the launch of a suite of specialised financial institution products, offering $25 million in investment management insurance (IMI). The firm’s new asset manager form reportedly combines professional indemnity,...
Posted: Feb 23, 2024
Aon, a global professional services firm, recently announced the appointment of Alicia Goosen to the position of Head of Professional Services Group in the Global Broking Centre (GBC). In this role, she will collaborate with teams from around the...
Posted: Feb 23, 2024
Fidelis Insurance Bermuda Limited (FIBL) has successfully closed a new catastrophe bond in the fifth series of notes issued by its Bermuda-based special purpose insurer Herbie Re Ltd., which will provide Fidelis Insurance Group with $150 million o...
Posted: Feb 23, 2024
Florida-domiciled and expansive primary insurance company, Universal Insurance Holdings, has reported a Q4 2023 combined ratio of 103.7%, an increase of 2.3 points from the comparative quarter, reflecting a higher net loss ratio as the net expense...
Posted: Feb 23, 2024
Gallagher Re, a reinsurance broker, has recently announced the appointment of Wei Hou to the position of Head of Life and Health, UK and Ireland (UK&I). In this role, he will be responsible for developing Life & Health solutions for the UK...
Posted: Feb 23, 2024
Independent personal lines insurance agency Goosehead has reported a net income of $5.4m for the fourth quarter of 2023, mainly due to revenue growth, a significant improvement compared to the $2.6m reported the prior year quarter. According to Go...
Posted: Feb 23, 2024
US primary holding company Donegal Group has announced its financial results for the fourth quarter of 2023, reporting a net loss of $2.0 million, compared to net income of $3.5 million a year earlier. Donegal Group’s combined ratio for Q4 2023 wa...
Posted: Feb 23, 2024
Brightway Insurance, an US personal lines insurance distribution platform, has announced the appointment of Nick Clements as Chief Executive Officer (CEO), effective March 1, 2024. Clements has more than two decades of experience building and scal...
Posted: Feb 23, 2024
According to a report from Business Standard, the Insurance Regulatory and Development Authority of India (IRDAI) is planning to introduce collaterals for reinsurance transactions with Cross Border Reinsurers (CBR). These changes aim to protect bo...
Posted: Feb 23, 2024
EPIC Insurance Brokers & Consultants (EPIC) has appointed Adam Meyerowitz as Chief Operating Officer as part of the firm’s expansion plans. A risk management provider, delivering diverse and specialised P&C, employee benefits, private clie...
Posted: Feb 22, 2024
Resilience, a cyber risk management firm, has fortified its position in combating cyber threats by acquiring BreachQuest, an innovative incident response technology solution. With the digital landscape evolving rapidly and risks escalating, this s...
Posted: Feb 22, 2024
Fitch Ratings reports that new regulations for Indonesian insurers and reinsurers are likely to reduce the number of companies operating in the sector and encourage a healthier competitive environment. The country’s Financial Services Author...
Posted: Feb 22, 2024
Global reinsurer SCOR’s South Korean branch has strategically partnered with Lydia AI, a health AI start-up, to augment SCOR’s Virtual Underwriting Solution (VUS) with point-of-underwriting predictive health analytics to create holisti...
Posted: Feb 22, 2024
Global re/insurance broker Howden has announced new appointments to its Capital, Advisory & Placement’s Surety team, naming Chris Coomans Head of Natural Resources, James Royal Head of Mining and Marc Underwood Trade Finance Lead. All the new...
Posted: Feb 22, 2024