Reinsurance News
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
Assurex Global, the privately held commercial insurance, risk management, and employee benefits brokerage group, has elected Hawk Seguros of São Paulo, Brazil, to the Assurex Global Partnership, effective January 22nd, 2024. Hawk Seguros works wit...
Posted: Feb 16, 2024
Gallagher Re, a reinsurance broker, highlights AI as a major focus of the InsurTech narrative in 2023, marking a turning point where AI gained serious traction in the re/insurance industry. According to data from Google, there has been exponential...
Posted: Feb 15, 2024
The Allstate Corporation has announced estimated catastrophe losses of $325 million for the month of January 2024, primarily driven by two events that comprised approximately 80% of the losses. The U.S. primary insurer stated that these losses dro...
Posted: Feb 15, 2024
UK law firm Weightmans has announced several new hires at its London office, marking the start of a further recruitment drive for the office in 2024, as it is actively seeking partners in its insurance segment. Joining the firm as a partner in cas...
Posted: Feb 15, 2024
Oliver Kaufmann has been appointed to the role of Senior Underwriter, Property Treaty at Munich Re Japan, joining the global reinsurance giant from New Reinsurance Company Ltd. (NewRe). In his new role, Kaufmann will be based in Tokyo, Japan. Duri...
Posted: Feb 15, 2024
American multinational financial services company, Corebridge Financial has announced its fourth quarter of 2023 financial results, reporting a net loss of $1.3 billion. This figure compares to a net loss of $207 million in Q4 2022. According to t...
Posted: Feb 15, 2024
DUAL UK, part of the specialist underwriting arm of Howden Group, has named Catherine Dixon as Chief Underwriting Officer (CUO) and Rob Corner as the Chief Distribution Officer. Corner joins the business in May and Dixon will join in June with bot...
Posted: Feb 15, 2024
Japanese insurer Mitsui Sumitomo Insurance (MSI), owner of Lloyd’s of London underwriter MS Amlin, is investing in the UK hub as it announces its plans to increase its underwriting capacity to £3 billion in the next five years. According to a rece...
Posted: Feb 15, 2024
CyRisk, an innovator in cyber risk management and data analytics, has introduced its latest solution, the Privacy Risk Insights Underwriting platform. Designed to meet the escalating demands of the cyber insurance sector amid a surge in privacy cl...
Posted: Feb 15, 2024
Kiwi insurer Tower has updated its earnings guidance on underlying net profit after tax (NPAT) for the year ending September 30, 2024 to be at the upper end of or exceed the previously advised range of between $22 million and $27 million. This ass...
Posted: Feb 15, 2024
According to analysts at global credit ratings agency, AM Best, Protection and Indemnity (P&I) clubs will seek further price improvements at the February 2024 renewal, to keep up with claims inflation. In advance of the 2024 renewal deadline,...
Posted: Feb 15, 2024
The UK Prudential Regulation Authority (PRA) is finalising its consultation on the use of funded reinsurance (Funded Re) in defined pension risk transfer (PRT) deals. The review began in November 2023 and will conclude on February 16, 2024. In a r...
Posted: Feb 15, 2024
Ignite Specialty Risk, a provider of litigation risk insurance, has unveiled its latest offering, Litigation Capital Protection Insurance, marking its official entry into the US market. The company also announced the appointment of Nicole Silver,...
Posted: Feb 15, 2024
Ryan Specialty, the international specialty insurance firm, has promoted Lana Jankovic to the Chief Audit and Sarbanes-Oxley (SOX) Officer, effective immediately. Jankovic joined the insurer three years ago and is an industry veteran with over 25...
Posted: Feb 15, 2024
Global re/insurance broker Howden has entered the captive management market as it has agreed to acquire ARM Group Holdings Limited (ARM), the parent of Alternative Risk Management. ARM is one of the largest independent insurance managers in Europe...
Posted: Feb 15, 2024
Palomar Holdings has posted a net income of $79.2 million for the full year 2023, representing significant growth from $52.2 million that the company recorded in 2022. The company’s gross written premiums (GWP) also saw a solid rise, increas...
Posted: Feb 15, 2024
Security and threat intelligence provider CSC has partnered with NetDiligence, a specialist in cyber risk solutions, to help mitigate cyber risks and support the cyber insurance ecosystem. With this agreement, CSC is now an available vendor to cyb...
Posted: Feb 15, 2024
Bermuda-based re/insurer Arch Capital Group Ltd. has reported a Q4 2023 combined ratio of 78.9% compared with 73.5% a year earlier as catastrophe losses increased, although underwriting income in both its insurance and reinsurance segments strengt...
Posted: Feb 15, 2024
Insurance broker and risk advisor and a business of Marsh McLennan, Marsh, has confirmed that its directors & officers (D&O) Echo facility is now offering clients with enhanced D&O insurance protection, which is being done in order to...
Posted: Feb 15, 2024
Chaucer, a re/insurance company owned by China Re, forecasts that 2024 will bring heightened political risk due to a surge in scheduled elections worldwide. This escalation raises concerns about potential political upheaval, prompting an increased...
Posted: Feb 15, 2024
Mercury General Corporation has posted $191.4 million net income in their results for the fourth quarter of 2023, compared to a -$6.7 million for the prior year period. Net premiums earned for the quarter sat at $1.14 billion, representing a solid...
Posted: Feb 15, 2024