Reinsurance News
AdvantageGo, a commercial re/insurance software provider and part of Coforge, has struck a strategic alliance with claims management system provider DOCOsoft. “DOCOsoft’s integrated claims management platform provides market-leading claims m...
Posted: Feb 08, 2024
Markel has named Katie Costello Head of Hull and War in a move that will reportedly bolster the London underwriting leadership team and position the Hull and War portfolio for further growth. In her new role at Markel, Costello is tasked with buil...
Posted: Feb 08, 2024
Fosun International Ltd. has ostensibly renewed its plan to sell Hong Kong-based Peak Re, seeking a valuation of about $1 billion, according to a new report from Bloomberg. Citing people familiar with the matter, Bloomberg said that BNP Paribas SA...
Posted: Feb 08, 2024
Global advisory, broking and solutions company WTW has appointed Ryohei Nakazawa as its new Head of Japan and Head of Corporate Risk and Broking (CRB) in the country, effective 1st April 2024. He will be based in Tokyo with a dual line of reportin...
Posted: Feb 08, 2024
Re/insurance marketplace Lloyd’s of London has announced investment in Axio to support further development of insurance solutions within the London insurance market. According to the announcement, the investment is a direct result from Axio’s sele...
Posted: Feb 08, 2024
Insurance broker and risk advisor and business of Marsh McLennan, Marsh, has hired Shannan Fort as International Cyber Product Leader, Marsh Specialty, where she will report to Gregory Eskins, Global Cyber Insurance Center Leader, and Kelly Butler...
Posted: Feb 08, 2024
US primary insurer Allstate has reported net income applicable to common shareholders in Q4 2023 of $1.5 billion, up massively compared to a loss of $303 million in the same quarter of 2022. Tom Wilson, Chair, President and CEO of Allstate, explai...
Posted: Feb 08, 2024
Faraday Underwriting Limited (FUL), part of the General Re Corporation, a wholly owned subsidiary of Berkshire Hathaway, has appointed Nick Frankland as Non-Executive Director, effective from February 1, 2024. The executive will also succeed Marti...
Posted: Feb 08, 2024
Bermuda-based insurer and reinsurer Everest Group has reported 2023 combined ratios of 90.9% for the Group, 86.4% for reinsurance and 103% for insurance, as catastrophe losses fell to $451 million, and net investment income rose more than $600 mil...
Posted: Feb 08, 2024
Specialist insurance provider CFC has hired industry veteran Nichola Archibald as Interim Chief People Officer. Overall, Archibald has over 25 years of expertise across a wide range of industry sectors, including insurance holding senior HR positi...
Posted: Feb 08, 2024
Xceedance, a global provider of strategic operations support, technology, and data services for insurance organisations, has launched its MGA Agility Suite aimed to enhance digital capabilities for program administrators in the Americas. Industry...
Posted: Feb 08, 2024
Based on its consolidated unaudited figures, Talanx Group, the parent company of Hannover Re, is expecting a group net income of €1.58 billion for the 2023 financial year. Talanx noted that this “clearly” surpasses its original annual...
Posted: Feb 08, 2024
According to a recent report by Moody’s, the P&C sector faced significant financial setbacks last year, primarily attributed to a series of severe convective storms (SCS) rather than major catastrophes. These storms, encompassing hail, s...
Posted: Feb 08, 2024
According to Fitch Ratings, the German non-life insurance sector is set to grapple with a net combined ratio of 99% for both 2023 and 2024, marking the highest figures since the tumultuous loss years of 2013 and 2002. The forecast primarily attrib...
Posted: Feb 08, 2024
Generali Global Corporate & Commercial (GC&C), subsidiary of the Italian insurance giant, has announced the appointment of Carlos Gomez as the new Head of Insurance, effective January 30, 2024. In his new role, Gomez will lead and oversee...
Posted: Feb 08, 2024
Cyber Underwriter Corvus Insurance has introduced a newly expanded Tech E+O product that features an enhanced appetite backed by Travelers. Corvus explained that Smart Tech E+O provides creative risk solutions for technology businesses across a ra...
Posted: Feb 08, 2024
Spanish reinsurer Nacional Re is set to leverage ACORD Solutions Group’s ADEPT (ACORD Data Exchange Platform and Translator) for Global Reinsurance and Large Commercial (GRLC) to “automate the digitisation and exchange of accounting and clai...
Posted: Feb 08, 2024
Independent specialist re/insurance broker Miller’s new London and International Market Update, notes a more consistent approach to trading within the property market at the January 1st, 2024, reinsurance renewals, and while pressure remains...
Posted: Feb 07, 2024
Insurtech Fairmatic has appointed Jim Hinchley as President of Insurance to drive growth and “bring innovative new insurance products” to market. According to Fairmatic, Hinchley’s proven track record in the commercial auto insur...
Posted: Feb 07, 2024
US insurance and investment firm, Prudential Financial, Inc., has reported fourth-quarter 2023 net income of $1.317 billion compared to a net loss of $52 million in the prior year’s quarter. The insurer’s after-tax adjusted operating income...
Posted: Feb 07, 2024
Maritime risks insurer Falvey Insurance Group has announced the appointment of Jason Olsen to the role of Vice President, Marine Cargo, welcoming him back to the company. Based out of Seattle, US, and effective February 12, Olsen will focus on a C...
Posted: Feb 07, 2024
French reinsurer Caisse Centrale de Réassurance (CCR) has selected Clearwater to power its entire investment management processes and streamline its unlisted assets workflow. CCR is a state-owned reinsurer that provides insurance companies operati...
Posted: Feb 07, 2024
Global specialty insurer and a subsidiary of Tiptree Inc., The Fortegra Group, Inc., has announced the withdrawal of its initial public offering. “Due to prevailing market conditions and the high value Tiptree Inc. and Warburg Pincus LLC place on...
Posted: Feb 07, 2024
Warwick Re Ltd, a Bermuda-domiciled reinsurer, has completed a roughly $500 million quota share reinsurance agreement with UK bulk purchase annuity (BPA) insurer Just Group plc. This inaugural transaction for Warwick Re, a provider of solutions to...
Posted: Feb 07, 2024
White Mountains has released its fourth-quarter results for 2023, reporting that its Ark partner firm produced strong underwriting results in both the quarter and the full year, while growing full-year gross written premiums 31%, according to CEO...
Posted: Feb 07, 2024