Reinsurance News
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
Kinsale Capital Group has reported a net income of $103.4 million for the fourth quarter of 2023, compared to a net income of $67.2 million from the fourth quarter of 2022. The company also reported net income of $308.1 million for the year ended...
Posted: Feb 19, 2024
Fitch Ratings predicts that the Saudi Arabian insurance market will strengthen in 2024 and 2025 due to new regulations aligned with the ‘2030 Saudi Vision’. These regulations mandate higher minimum capital requirements, prompting insur...
Posted: Feb 19, 2024
In a recent media call following the release of Swiss Re’s 2023 earnings report, Christian Mumenthaler, the CEO of the renowned reinsurance company, highlighted the inevitable transition towards achieving net-zero emissions globally. Mumenth...
Posted: Feb 16, 2024
Australian insurer IAG has revealed loss activity in H1 of the fiscal year (FY) 2024 eroded the retention layer beneath its aggregate reinsurance treaty by $250 million. According to the firm, natural peril and catastrophe losses cost the company...
Posted: Feb 16, 2024
US specialty insurance group Assurant has completed its April 2024 reinsurance renewal early, purchasing $1.38 billion of catastrophe protection in excess of a $150 million retention, which is $25 million higher than last year. Assurant has shifte...
Posted: Feb 16, 2024
Wholesale insurance brokerage and underwriter, Burns & Wilcox, has opened its new Boston office, subsequently appointing Peter Kestenbaum as the Managing Director. Kestenbaum will report to Doug Legters, Regional Vice President, Northeast. Leg...
Posted: Feb 16, 2024
Fairfax Financial Holdings Limited has announced its financial results for the fiscal year 2023 net earnings of $4,381.8 million, compared with fiscal year 2022 net earnings of $3,374.2 million. In Q4, the net earnings were $1,328.5 million, compa...
Posted: Feb 16, 2024
According to GlobalData, a prominent data and analytics company, the Chinese property insurance sector is anticipated to soar at a compound annual growth rate (CAGR) of 12.1% over the period of 2024 to 2028. This growth trajectory is expected to e...
Posted: Feb 16, 2024
The Lloyd’s Market Association (LMA) has released revised clauses in response to the Oil Price Cap Coalition’s announcement of additional measures to reduce the possibility of circumvention of the oil price cap. From what we understand, the releas...
Posted: Feb 16, 2024
Independent insurance broker, Lockton, has announced the appointment of Oliver Ross as Senior Vice President within the Global Construction team, effective immediately. Based in London, Ross will be responsible for establishing and growing Lockton...
Posted: Feb 16, 2024
Australian insurer QBE opted to shrink the size of its main catastrophe excess of loss (XoL) reinsurance tower by $400 million at the renewals to $2.7 billion with an unchanged retention of $400 million, while the retention on its aggregate protec...
Posted: Feb 16, 2024
UK-based KYND, a provider of cyber risk management solutions, has secured an undisclosed amount in funding from data and technology provider Verisk, and BGF, an existing backer and experienced growth capital investors in the UK. Andy Thomas and Me...
Posted: Feb 16, 2024
The Insurance Council of Australia (ICA) has declared the Valentine’s Day storms that struck the Australian state of Victoria as a ‘Significant Event’, escalating insurers response for impacted customers. In a recent statement released by the comp...
Posted: Feb 16, 2024
Dutch insurer Achmea is reportedly mulling a potential sale of its Pension & Life Insurance arm, as per a new report from Reuters. Citing people familiar with the matter, Reuters explained that Achmea is working with bankers at JP Morgan to ga...
Posted: Feb 16, 2024
Kin, the direct-to-consumer home insurance company, has posted $344.1 million in gross written premium (GWP) in their full year 2023 results, representing 51% year-over-year (YoY) growth. Total revenue for FY23 sat at $104.5 million, which represe...
Posted: Feb 16, 2024
Australian insurer IAG has posted an H1 2024 gross premiums written (GWP) increase of 12.5% to $7.9 billion year over year, the strongest in the past nine years, as the firm’s insurance profit increased by 75%. The group’s insurance profit o...
Posted: Feb 16, 2024
Australian insurer QBE has announced a 2023 full-year statutory net profit after tax of $1.36 billion, up substantially compared with the $587 million recorded in 2022. At the same time, gross written premiums for the full year grew 10% from 2022...
Posted: Feb 16, 2024
Specialty insurer Tokio Marine Kiln (TMK) has appointed Matthew Shaw as chief executive officer (CEO) with effect from 1 April, subject to regulatory approval. Shaw is set to succeed Brad Irick who is taking up the position of co-head of internati...
Posted: Feb 16, 2024
Global reinsurance giant Swiss Re grew its premium volume 9% to $13.1 billion at the January 1st, 2024, reinsurance renewals, with further growth in natural catastrophe, property, and specialty lines, and a flat outcome in casualty. This morning,...
Posted: Feb 16, 2024
Californian private oil and gas company, Synergy has secured financing from Munich Re, a global reinsurance company, to restore coastal wetlands on a 140-acre site in Long Beach. Synergy aims to use the funds to restore Los Cerritos wetlands and f...
Posted: Feb 16, 2024
Large European reinsurer Swiss Re has today reported a significant rise in net income to $3.2 billion for 2023 and a return on equity of 22.3%, as underwriting margins improved and the firm’s P&C reinsurance arm delivered income of $1.9...
Posted: Feb 16, 2024
Chicago-domiciled VIU by HUB, an omnichannel insurance brokerage platform, has partnered with HoneyQuote, a Florida home and condo insurance marketplace, to provide expanded regional carrier options and specialized advice for Floridians seeking pe...
Posted: Feb 16, 2024
Global professional services firm Aon, has announced that Alok Mathur will be joining the firm as Chief Operating Officer (COO) for Human Capital, effective February 19, 2024. In the role, Mathur will be based out of Aon’s London office. He will r...
Posted: Feb 16, 2024
Cake, a transactional marketplace tailored for independent insurance agents, has successfully closed a $1.3 million pre-seed funding round, spearheaded by prominent venture capital firm Markd. The financing effort also garnered support from key ba...
Posted: Feb 16, 2024