Reinsurance News
DeNexus, a provider in cyber risk modeling for industrial networks, has announced plans to launch its subsidiary, DNX Intermediaries (Bermuda) Ltd, this year. This announcement came as DeNexus also announced significant investments from energy and...
Posted: Feb 07, 2024
According to executives at large European reinsurer Hannover Re, the current market environment is anticipated to prevail at the upcoming April and mid-year renewals. As reported earlier, the German reinsurer achieved an inflation and risk-adjuste...
Posted: Feb 07, 2024
Pro Global has recorded 12% revenue growth for the full year 2023, marking the third consecutive year of double-digit revenue progression for the company. The year also saw the company acquire a specialist Robotic Process Automation (RPA) business...
Posted: Feb 07, 2024
Ensurise, LLC, the independent insurance brokerage, has merged with Risk Cooperative in a move that is set to strengthen it’s market presence. The merger came into effect on December 19, 2023. Risk Cooperative, which was established in 2014,...
Posted: Feb 07, 2024
Specialty re/insurer Canopius Group has announced the appointment of Valentina Minetti as Head of Medical Professional Liability (MPL), effective immediately. Minetti brings to her new role nearly 30 years of healthcare lines and actuarial experie...
Posted: Feb 07, 2024
Tokio Marine HCC International (TMHCCI) has reached an agreement with Marsh Specialty UK to take on certain employees of Lavaretus Underwriting, a specialist MGA and Lloyd’s coverholder focused on the shipping, power and energy sectors. Lavaretus...
Posted: Feb 07, 2024
Insurer Cincinnati Financial Corporation has reported a full-year 2023 net income of $1.84 billion, compared with a net loss of $487 million in 2022. For Q4 alone, the firm posted a net income of $1.18 billion, compared with a net income of $1.01...
Posted: Feb 07, 2024
Lloyd’s, the world’s oldest insurance and reinsurance marketplace, has partnered with Sherbro Alliance Partners (SAP) to support economic resilience and growth opportunities on Sherbro Island, Sierra Leone. The partnership was cemented by the sign...
Posted: Feb 07, 2024
AM Best has warned in a new report that a growing cyber book could present a “material risk to a re/insurer’s financial strength” if it is not carefully managed and appropriately monitored. According to the rating agency, cyber is a li...
Posted: Feb 07, 2024
Tata Consultancy Services (TCS) has expanded its Aviva partnership with a new 15-year agreement to transform the insurer’s UK Life business and enhance customer experience leveraging the TCS BaNCSTM based platform. The partnership is to serve over...
Posted: Feb 07, 2024
German reinsurer Hannover Re has reported that it achieved an inflation and risk-adjusted price increase on renewed business of 2.3% in the 1 January 2024 treaty renewals in traditional property and casualty (P&C) reinsurance. Hannover Re sugg...
Posted: Feb 07, 2024
Xenia Broking Group Limited (XBGL), a Brown & Brown group company, has announced the appointment of Steven Stennett as Chief Executive Officer (CEO), taking over the role from Tim Coles. Stennett brings to his new role over 25 years of experie...
Posted: Feb 07, 2024
SureChoice Underwriters Reciprocal Exchange (SURE), in partnership with SageSure, a managing general underwriter focused on catastrophe-exposed markets, has entered the Californian market with the launch of its surplus lines homeowners insurance....
Posted: Feb 07, 2024
Golub Capital, a leading credit asset management firm, has announced its role as Joint Lead Arranger on a unitranche facility to bolster the growth initiatives of German insurance broker MRH Trowe. The financing, structured as a delayed draw term...
Posted: Feb 07, 2024
MEDVIDA Partners, a Spanish insurer, has completed its acquisition of Metrópolis’ life insurance portfolio, representing the first transfer of life insurance savings with-profits portfolios between unrelated entities. According to the announcement...
Posted: Feb 07, 2024
Global reinsurance firm Hannover Re has warned that when it reports its full-year 2023 results, its operating result for the year will be impacted by a resiliency reserve that has been set “significantly higher” than forecast in the fo...
Posted: Feb 06, 2024
Jean-Paul Conoscente, the Chief Executive Officer (CEO) of property & casualty (P&C) at French reinsurer SCOR, has said that it is likely that there will be pressure on pricing catastrophe programmes for the April renewals. Speaking during...
Posted: Feb 06, 2024
Amwins Underwriting has partnered with Lancer Insurance Company, the commercial auto division of Core Specialty, marking a new carrier relationship which will enhance two trucking programs provided through Amwins Transportation Underwriters (ATU)....
Posted: Feb 06, 2024
African specialist underwriting agency, Neema Insurance Managing Agency, will officially open a London office on 12th February 2024, marking a key milestone in the company’s journey. Neema is a multi-class MGA which has been operating since 1st Oc...
Posted: Feb 06, 2024
Gallagher Re has appointed Hamish Dowlen as Managing Director of Europe, the Middle East and Africa (EMEA), effective 1 June 2024, while Ditte Deschars will be moving into the Chairperson role for EMEA, in addition to her leadership of the Nordic...
Posted: Feb 06, 2024
Quotech, a developer of integrated technology solutions for underwriting and broking teams, has launched Quex, a new exposure management platform. Quotech explained that Quex resolves the frequent complaints users make about their old exposure man...
Posted: Feb 06, 2024
Industry giant Swiss Re’s digital B2B2C insurer, iptiQ and Goboony, a European camper-sharing platform, have strategically partnered to launch a new digital insurance solution tailored to the specific needs of motorhome owners. The Netherlan...
Posted: Feb 06, 2024
In recent developments, ongoing attacks on Red Sea shipping lanes have prompted a surge in war risk premiums, posing challenges for marine insurers worldwide, according to a Moody’s report. The disruptions to shipping routes have raised conc...
Posted: Feb 06, 2024
Arthur J. Gallagher & Co. has acquired Fort Lauderdale, Florida-based The John Galt Insurance Agency, an independent insurance agency, in an undisclosed transaction. The Agency is formed by John Galt Commercial Insurance Agency, LLC and John G...
Posted: Feb 06, 2024
VIG Re, the reinsurance company of Vienna Insurance Group, has announced the appointment of Tobias Sonndorfer as Vice-Chairman of the Board of Directors, effective February 1, 2024. In addition to his role as Vice-Chairman, Sonndorfer will also as...
Posted: Feb 06, 2024