Reinsurance News
Marsh McLennan Agency (MMA), a subsidiary of Marsh, has signed agreements to acquire two Louisiana-based middle-market agencies, Querbes & Nelson (Q&N) and Louisiana Companies. According to the firm, upon closing of the transactions, Louis...
Posted: Feb 21, 2024
Skyward Specialty Insurance Group, Inc. has posted a net income of $29.3 million for the fourth quarter of 2023, compared to $20.4 million for the same period last year. Net income for the year ended 2023 was $86.0 million, compared to $39.4 milli...
Posted: Feb 21, 2024
Bermuda-based specialty insurer and reinsurer, SiriusPoint, has reported a core combined ratio of 89.1% in its full year 2023 results, marking a return to core underwriting profit after a combined ratio of 101.6% in 2022. For the year, core underw...
Posted: Feb 21, 2024
CatX, the regulated digital marketplace connecting insurers, reinsurers and brokers with alternative capital, has strategically partnered with risk modeller Moody’s RMS to support brokers and cedents in accessing a broader capacity base and model...
Posted: Feb 21, 2024
Topsail Re has announced that Christopher Miller has joined as Executive Vice President and Chief Strategy Officer of Topsail Re, as well as President of Topsail Capital Partners. Miller holds almost 25 years of experience in the industry, with ex...
Posted: Feb 21, 2024
Specialty insurer Beazley has announced the merger of its in-house Cyber Services team with its wholly owned cyber security company Lodestone, creating an integrated cyber risk management company, Beazley Security. Beazley explained that the new c...
Posted: Feb 21, 2024
Aon plc, the global professional services firm, has appointed Phil Smaje as Global Chief Broking Officer, transportation and logistics for Commercial Risk. He will be based in Aon’s London office and report to Lee Meyrick, Global Industry Specialt...
Posted: Feb 21, 2024
Bermuda-based reinsurer Conduit Re recorded a rise in gross premiums written (GPW) in 2023 to $931.4 million, as reinsurance revenue increased 61% year-on-year to $633 million and the company’s combined ratio strengthened considerably to 72....
Posted: Feb 21, 2024
AI insurtech Concirrus has revealed a 204.6% surge in revenue for the fiscal year ending in December 2023, marking a pivotal shift towards profitability in the latter half of the year. This comes amidst a tumultuous period for the global insurtech...
Posted: Feb 21, 2024
Gallagher Re, a reinsurance broker, anticipates a surge in investments in cyber catastrophe bonds in 2024, following the successful launch of PoleStar Re Ltd. (Series 2024-1) in December 2023. PoleStar Re was the first full 144A cyber catastrophe...
Posted: Feb 21, 2024
French reinsurer SCOR has joined forces with AIMCOR Group to usher in a new era of efficiency and accessibility in the term life insurance landscape. The new product, AIMCOR QuickLife, is powered by Techficient’s Dynamic Platform, and is und...
Posted: Feb 21, 2024
USQRisk, an international managing general agent specializing in alternative risk transfer, has promoted Tony Harrington-Jones to Chief Operating Officer (COO), based in London. As COO, his remit will include enabling USQRisk’s continued glo...
Posted: Feb 21, 2024
The North American Insurance Composite marshalled by Stonybrook Capital and Weild & Co. was up 2.1% for the week of Feb 9th-16th, “likely setting a record-high weekly close”, with most issues having eclipsed their previous records....
Posted: Feb 20, 2024
The Board of the Texas Windstorm Insurance Association (TWIA) recently voted in favour of the Actuarial and Underwriting Committee’s recommendation to set the 1-in-100 year PML for the 2024 storm season at $6.5 billion. We wrote last week th...
Posted: Feb 20, 2024
In a new report from DBRS Morningstar discussing the Solvency II prudential regime, the rating agency has noted that the new rules are not expected to materially change EU and UK insurer’s risk appetites. DBRS’s analysts explained in t...
Posted: Feb 20, 2024
Duck Creek Technologies, a P&C solutions provider, has welcomed Xceedance, an insurance-focused consulting, technology and data provider, as an inaugural ecosystem partner for reinsurance. Xceedance has been a longstanding collaborator with Du...
Posted: Feb 20, 2024
Enstar has released its full-year 2023 results, announcing net income of $1.1 billion compared to a net loss of $906 million for 2022. The firm’s return on equity (ROE) of 24.2% for the year improved significantly from the prior year. The st...
Posted: Feb 20, 2024
In response to the looming threat of recession, European insurance industry leaders are doubling down on their digitalisation initiatives to enhance customer experiences and streamline operations, according to a recent survey conducted by Informat...
Posted: Feb 20, 2024
The Vatuvara Foundation Fiji, in collaboration with WTW and Fiji-based broker, Insurance Holdings (Pacific) Pte Ltd., has selected the Pacific Catastrophe Risk Insurance Company (PCRIC) to administer a new parametric insurance solution designed to...
Posted: Feb 20, 2024
Lockton, an independent insurance brokerage, has announced that Steve Goldenberg will be joining the firm as their new Executive Vice President (EVP), Operations, reporting directly to Peter Clune, Lockton’s Chief Executive Officer. In this...
Posted: Feb 20, 2024
Truist Financial Corporation has announced it has agreed to sell its remaining stake in Truist Insurance Holdings (TIH), to an investor group led by private equity firms Stone Point Capital and Clayton, Dubilier & Rice (CD&R). This transac...
Posted: Feb 20, 2024
During a week of extensive marketing efforts across the United States and Canada, financial investors have shown significant interest in two key subjects: reinsurance and AXA, according to a Berenberg report. Over the course of 23 investor meeting...
Posted: Feb 20, 2024
Specialist insurance and reinsurance broker BMS has announced the appointment of Craig Douglas as Director of Energy and Complex Liability. Based in Bermuda, Douglas will be reporting to Russell Williams, Head of Liability at BMS in Bermuda. The e...
Posted: Feb 20, 2024
Optalitix, an InsurTech that provides software pricing products to leading UK insurers, has partnered with Quantee, an insurance pricing platform. The two companies are working to create a solution that will enable insurers to quickly quote for bu...
Posted: Feb 20, 2024
Tysers, an independent Lloyd’s broker and member of the Australian AUB Group, has reported revenue of £100 million for H1 of the AU 2024 financial year, as it remains “on track” for future growth. Tysers earnings before interest and ta...
Posted: Feb 20, 2024