Reinsurance News
Broker WTW, has launched a new parametric insurance policy that will help protect the coral reef system of the South Pacific Ocean’s volcano-formed Lau Group of islands, which is regarded as being one of the most vulnerable and isolated places on...
Posted: Feb 05, 2024
European reinsurer Munich Re has announced the formation of a global parametric team focusing on natural catastrophe risk transfer solutions, bringing together experienced colleagues from around the world. The market for parametric solutions is hi...
Posted: Feb 05, 2024
Global commercial insurance rates increased by 2% in Q4 of 2023 (down from a 3% increase in Q3), marking the 25th consecutive quarter of rate increases, according to Marsh’s Global Insurance Market Index. Marsh observed that rates were again...
Posted: Feb 05, 2024
Speciality re/insurer SiriusPoint has announced a number of appointments to its Marine and Energy teams, including Chris Fenn’s as Head of Marine and John Hopper as Head of Energy. SiriusPoint stated: “The appointments sharpen the Company’s focus...
Posted: Feb 05, 2024
Swiss Re has announced two new hires within its cyber reinsurance team, naming Giv Kahrom as Head of Cyber Asia, and Alex Stubbs as Senior Cyber Underwriter for the UK market. Kahrom took on the position as Head of Cyber Asia in January and is bas...
Posted: Feb 05, 2024
Specialist insurance provider, CFC, has hired Jason Hart as Head of Proactive Cyber, where he will be responsible for leading the continued development of CFC’s cyber threat analysis, vulnerability and threat detection service. Hart has over 20 ye...
Posted: Feb 05, 2024
Zurich-based catastrophe insurance data provider PERILS has disclosed its second industry loss estimate for extratropical windstorm “Ciarán”, also known as “Emir”, upping the figure to €1,937 million. This updated estimate is based on claims data...
Posted: Feb 05, 2024
Fidelis MGU has announced the promotion of Hannah Charnaud to Deputy Head of Marine, a London-based role. Charnaud has taken over her new position following her role as a Senior Underwriter for Fidelis Marine business. She joined the firm in 2018...
Posted: Feb 05, 2024
A recent report from AM Best reveals that the U.S. property/casualty (P/C) farm bureau segment has witnessed a 13% increase in premiums over the past two years, largely fueled by personal auto, homeowners, and farmowners’ business lines. The repor...
Posted: Feb 05, 2024
DXC Technology, a provider of insurance and reinsurance software and technology solutions, has announced that the Company’s Board of Directors unanimously appointed Raul Fernandez as its President and Chief Executive Officer, effective immed...
Posted: Feb 05, 2024
Specialist insurer Pension Insurance Corporation plc (PIC) has announced the addition of three new members to its Origination team, Tom Seecharan as Co-Head of Origination, Matt Richards as Head of Origination Structuring, and Louise Nash as Origi...
Posted: Feb 05, 2024
With recession at bay and inflation beginning to cool off, North American insurers are expected to balance growth opportunities while weathering potential impediments to growth this year, according to Fitch Ratings analysts and external panelists...
Posted: Feb 02, 2024
While the outlook for property and casualty (P&C) pricing remains favourable for 2024, Eric Andersen, President of re/insurance broker Aon, expects a transition to a more product and risk specific marketplace over the next 12-24 months. Follow...
Posted: Feb 02, 2024
Specialty property casualty insurer, AmTrust, has named a new President of AmTrust Title, James Thanasules, who will oversee the company’s operations providing title insurance for the commercial and residential real estate industries. Thanasules,...
Posted: Feb 02, 2024
In the midst of a dynamic financial environment marked by soaring interest rates, reinsurance is emerging as a key ally for life insurers, offering innovative solutions to effectively manage the impact on their businesses, according to a Swiss Re...
Posted: Feb 02, 2024
AdvantageGo, the commercial insurance and reinsurance software provider and part of Coforge, has entered into a strategic alliance with Combined Ratio Solutions, a provider of insurance Customer Relationship Management (CRM) solutions and professi...
Posted: Feb 02, 2024
Kemper Corporation has reported a net income of $51.4 million for the fourth quarter of 2023, compared to a net loss of $53.3 million for the fourth quarter of 2022. Total revenues for Q4’23 decreased $187.4 million, or 13.6 percent, to $1,1...
Posted: Feb 02, 2024
Life insurance and reinsurance holding company, Monument Re, has completed its previously announced agreement to acquire the closed portfolio long-term life insurance business from Integrale Lux S.A. through its Luxembourg subsidiary, Monument Ass...
Posted: Feb 02, 2024
Pan-African reinsurer Continental Reinsurance Plc has announced the appointment of Thierry Ravoaja to the role of Chief Underwriting Officer – Treaty and Retrocession. Ravoaja brings with him over two decades of industry experience, having most re...
Posted: Feb 02, 2024
Aon’s Reinsurance Solutions arm delivered organic revenue growth of 14% in the fourth quarter of 2023 to $332 million, as total revenue across the insurance and reinsurance broking group rose $245 million to $3.4 billion. The broker attribut...
Posted: Feb 02, 2024
The Hartford has posted a net income of $766 million for the fourth quarter of 2023, a substantial rise from $587 million in the fourth quarter of 2022. The company noted that this was primarily driven from a higher property & casualty (P&...
Posted: Feb 02, 2024
Zurich-based catastrophe insurance data provider PERILS has disclosed its fourth and final insurance market loss estimate for the severe flooding that impacted the North Island of New Zealand in late January 2023, pegging the total at NZ $2.23 bil...
Posted: Feb 02, 2024
Reinsurance Group of America (RGA), a global life and health reinsurer, has reported fourth-quarter 2023 premium growth of 19.2% over the prior-year quarter as consolidated net premiums hit $4.1 billion. Net premiums for the quarter include a $500...
Posted: Feb 02, 2024
Global insurance broker WTW has launched a new cyber insurance solution tailored for small and medium-sized enterprises (SMEs) spanning industries across North America. This solution is tailored for businesses with annual revenues under $50 millio...
Posted: Feb 02, 2024
Escalating tensions in the Middle East, especially in the Red Sea region, have recently rekindled concerns within the (re)insurance industry regarding potential claims inflation, with BofA Securities noting that, although direct and indirect impac...
Posted: Feb 02, 2024