Reinsurance News
As per a new report from Moody’s, claims inflation and increased exposure to weather events are the “main credit risks” for European property & casualty (P&C) insurers in 2024. According to Moody’s analysts, consume...
Posted: Feb 20, 2024
In a recent statement, Fitch Ratings has highlighted the pivotal role of private ownership strategies in shaping the credit outlook for insurers. The credit agency emphasised that the influence exerted by owners on an insurer’s business plan...
Posted: Feb 20, 2024
As Europe’s largest domicile for captive insurance, Guernsey, a British Crown Dependency, leads to insurance business flowing through London’s wholesale insurance markets that would otherwise go somewhere else, causing a positive impact in the UK...
Posted: Feb 20, 2024
PB Fintech’s wholly-owned subsidiary, Policybazaar Insurance Brokers, has been granted In-Principle approval to upgrade its license from Direct Insurance Broker (Life & General) to Composite Insurance Broker by the Insurance Regulatory and Dev...
Posted: Feb 20, 2024
WindBorne Systems, an environmental and weather intelligence company, has recently unveiled its groundbreaking AI forecasting model, WeatherMesh. This innovation holds significant promise for the re/insurance industry, offering improved risk asses...
Posted: Feb 19, 2024
ERS, a specialised UK motor insurance company and part of IQUW Group, has announced that Tom Cummings will be taking on the role of Head of Counter Fraud. In his new position, Cummings will lead ERS’ efforts to combat policy and claims fraud, over...
Posted: Feb 19, 2024
AM Best has downgraded 777 Re’s, the Bermuda-based reinsurance entity of investment firm 777 Partners, credit ratings and maintained its under review with negative implications status. The company offers reinsurance on active and run-off blocks of...
Posted: Feb 19, 2024
Convr AI, an artificial intelligence (AI) company serving commercial insurance organisations, has announced that Lucid Insurance Group will utilise its underwriting workbench to gain greater speed, accuracy and efficiency in their operations start...
Posted: Feb 19, 2024
Mac Armstrong, CEO of Palomar Holdings, expressed satisfaction with the outcomes of the company’s reinsurance treaties renewing on January 1 during the Q4’23 earnings call. Armstrong stated, “As it pertains to our Reinsurance pro...
Posted: Feb 19, 2024
Aventum, an international re/insurance group, has just announced the promotion of Phil Wood to the role of Chief Partnerships Officer, where he will oversee and support the development of new consumer partnerships and Synergy divisions within Aven...
Posted: Feb 19, 2024
The cancellation of Viridium Gruppe’s planned partial purchase of Zurich Germany’s life book has renewed concerns that regulators are scrutinising private equity (PE) backed consolidators in the life sector more closely, which may reduce the pace...
Posted: Feb 19, 2024
AXA XL, the P&C and specialty risk division of global insurer AXA, has announced the addition of Chris Cheng to its Hong Kong team as Head of Casualty. “Chris brings a wealth of experience and will be responsible for developing our casualty po...
Posted: Feb 19, 2024
Cennairus Cyber, a wholesale insurance brokerage specialising in cyber and technology errors and omissions insurance, has announced a partnership with Ascend, a financial operations automation platform. This collaboration is poised to streamline f...
Posted: Feb 19, 2024
Sertis, an MGA in the multifamily insurance market, has expanded into a further 32 states across the United States. According to Sertis, this move will “transform” the insurance landscape for brokers and agents, while “significan...
Posted: Feb 19, 2024
MIC Global, a full-stack embedded micro insurance provider, and WRMS Global, a climate and agriculture risk management company, have partnered to deliver parametric flood resilience cover to merchants and gig workers in India. According to the ann...
Posted: Feb 19, 2024
Lloyd’s, the global insurance and reinsurance marketplace, has confirmed Claire Schrader as General Counsel, responsible for managing legal risk at Lloyd’s. Schrader, who also will also remain a member of Lloyd’s Executive Committee, had been perf...
Posted: Feb 19, 2024
Legal & General’s latest PRT Monitor has revealed a remarkable surge in global Pension Risk Transfer (PRT) market activity throughout 2023, with transactions totaling over £85 billion in the UK and US combined. This marks a record-breaki...
Posted: Feb 19, 2024
Whitespace, a fully digital e-trading platform and Verisk company, has revealed that Ardonagh Specialty’s Price Forbes has “dramatically widened” its adoption of the Whitespace Platform. All lines of business will now reportedly...
Posted: Feb 19, 2024
Specialist venture capital investor B.P. Marsh & Partners Plc has revealed in an update on trading that it increased its Net Asset Value from £190m to £204m in the six months ended 31 July 2023. B.P. Marsh additionally reported that three disp...
Posted: Feb 19, 2024
Specialist venture capital investor B.P. Marsh & Partners Plc has revealed in an update on trading that it increased its Net Asset Value from £190m to £204m in the six months ended 31 July 2023. B.P. Marsh additionally reported that three disp...
Posted: Feb 19, 2024
Global reinsurance giant Munich Re has highlighted how AI exposures within traditional insurance policies possess the ability to become a significant unexpected risk to insurers’ portfolios. This comes as the industry evaluates how to transfer cap...
Posted: Feb 19, 2024
Canada Life Re, comprised predominantly by the Capital and Risk Solutions division, has reported “record” $794 million in earnings for 2023, as its parent company, Great-West Lifeco, sees strong earnings of $3.7 billion for the year. For the fourt...
Posted: Feb 19, 2024
PERILS, the independent Zurich-domiciled catastrophe insurance data provider, has disclosed its fourth and final insurance industry loss estimate for Cyclone Gabrielle of NZ $2.174 billion. Cyclone Gabrielle impacted the North Island of New Zealan...
Posted: Feb 19, 2024
In the recent January 1, 2024, renewal season, casualty reinsurance markets experienced relatively stable conditions despite escalating risks in the industry, according to a report by AM Best. While concerns over social inflation, litigation fundi...
Posted: Feb 19, 2024
FWD Group Holdings Limited, an Asian insurance company, is considering selling shares among other options after delaying a planned initial public offering (IPO), as reported in a recent news article by Bloomberg. If a deal proceeds, it is reported...
Posted: Feb 19, 2024