Reinsurance News
Margaret Rose has been appointed to the role of Deputy Global Line Head – Cyber and Head of Cyber, Americas, at French reinsurer, SCOR. Based in New York, Rose has been with SCOR since 2016. When she joined the firm, she took on the role of...
Posted: Feb 01, 2024
In a recent Special Report, credit rating agency AM Best highlighted a significant 18% increase in surrendered annuity policies through the third quarter of 2023, surpassing the growth in premium, which held steady at 17% during the same period. T...
Posted: Feb 01, 2024
The Insurance Council of Australia (ICA) has called on the Albanese Government to guarantee that the next Federal Budget includes an ongoing fund of $250 million a year to buy back and raise homes that are exposed to extreme flood risk. Contained...
Posted: Feb 01, 2024
Reinsurance broker Gallagher Re has announced the appointment of Dirk Spenner as Chief Executive Officer, International, effective 1st June 2024. With over three decades of industry experience, Spenner will take over the role from Tony Melia, who...
Posted: Jan 31, 2024
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has promoted James Boyle to the newly created role of Head of Energy, London, effective immediately. According to LSM, Boyle is perfectly placed to lead its underwriting team...
Posted: Jan 31, 2024
Global reinsurance broker BMS Re has appointed Andrew Wheeler and Russ McGuire as co-Chief Executive Officers (CEOs) following the transition of Pete Chandler to vice-chair of the company. Chandler led the reinsurance broker for more than four yea...
Posted: Jan 31, 2024
The Federation of European Risk Management Associations (FERMA) has called upon the Belgian Presidency of the Council of the European Union to amplify risk management in efforts to strengthen competitiveness which would benefit the re/insurance se...
Posted: Jan 31, 2024
Travelers’ decision to obtain extra reinsurance protection is mainly due to the recent inflationary impact on insured values according to Chief Financial Officer (CFO), Dan Frey. The US insurer has recently released an update on its 1.1 2024...
Posted: Jan 31, 2024
As artificial intelligence (AI) and connected technologies continue to make an impact across the insurance value chain, it is very clear that there is a significant opportunity for AI to intersect operational efficiency and customer service, howev...
Posted: Jan 31, 2024
BofA Securities anticipates a robust FY 2023 update for European reinsurers and London Market insurers, signaling a positive turnaround in the sector. The stable pricing for commercial insurers and a potential peak in pricing for reinsurers in 202...
Posted: Jan 31, 2024
Clement Lau has been appointed as Executive Director, Policy and Legislation of the Insurance Authority (IA), the insurance regulator of all authorised insurance companies and licensed insurance intermediaries in Hong Kong. The Government’s Financ...
Posted: Jan 31, 2024
Argenta Syndicate Management Limited (ASML), a subsidiary of Argenta Holdings Limited, has promoted Jacqui Grinberg to the role of Chief Claims Officer, with immediate effect. She will be reporting to Carol-Ann Burton, ASML Director and General Co...
Posted: Jan 31, 2024
Cincinnati Financial Corporation has announced that President Stephen M. Spray will take over as Chief Executive Officer (CEO) of the company in May, with Steven J. Johnston remaining as executive chairman of the company and its US subsidiaries. J...
Posted: Jan 31, 2024
In a strategic collaboration, global reinsurer Swiss Re has joined forces with research partner Carnegie Endowment and major cloud providers to address and mitigate the risks associated with the concentration of cloud services. This partnership ha...
Posted: Jan 31, 2024
AM Best is maintaining a stable outlook on Japan’s non-life insurance industry, emphasising the sector’s profitable and stable underwriting practices and robust capital base amid financial market uncertainties. The rating agency highli...
Posted: Jan 31, 2024
Sompo International, the property & casualty (P&C) insurer and reinsurer, has named David Bigley Executive Vice President, Head of Ceded Reinsurance, where he will be responsible for the firm’s outbound reinsurance placements. With o...
Posted: Jan 31, 2024
Global insurer Chubb Limited has reported improved year-on-year net premiums written (NPW), a strong underwriting result, and record net income of $3.3 billion for the fourth quarter of 2023. Alongside the 151.7% year-on-year rise in net income, C...
Posted: Jan 31, 2024
Probitas has appointed Robbin Botnick to initiate the process of setting up a Service Company based in Toronto, Canada. According to Probitas, Botnick has a “long history and knowledge of Lloyd’s business” with extensive experience bot...
Posted: Jan 31, 2024
Bermuda-based reinsurer RenaissanceRe (RenRe) has reported a stronger combined ratio of 76% and 77.9% for the fourth quarter and full year 2023, respectively, as the firm’s underwriting and investment income improved for both periods. RenRe...
Posted: Jan 31, 2024
Guy Carpenter, a global risk and reinsurance specialist and business of Marsh McLennan, has launched its new cyber reinsurance product, CatStop+, a “first-of-its-kind” market-tested structure designed to address the volatility of cyber...
Posted: Jan 31, 2024
Atlas Insurance PCC, Malta-based insurer and Protected Cell Company (PCC) in the EU, has obtained authorisation for its UK branch license and extended its non-life insurance and reinsurance license to encompass life reinsurance. The insurer has be...
Posted: Jan 31, 2024
Arthur J, Gallagher & Co., the global insurance brokerage, risk management and consulting services firm, has acquired Washington, Iowa-based Horak Insurance, Inc., a retail property & casualty (P&C) insurance agency. The organisation p...
Posted: Jan 31, 2024
Bermuda International Long Term Insurers and Reinsurers (BILTIR) has announced significant leadership changes, appointing Suzanne Williams-Charles as Chief Executive Officer (CEO) and David Altmaier as Executive Advisor. Williams-Charles, set to j...
Posted: Jan 31, 2024
Property & casualty insurer, Berkshire Hathaway Specialty Insurance (BHSI), has appointed Fiona Merton as the new Head of Customer & Broker Engagement in the UK, based out of London. She succeeds Mark Walker, who was recently named Head of...
Posted: Jan 31, 2024
Bermuda-based global specialty insurance firm Ascot Group has announced the appointment of Elizabeth Johnson as Group Chief Operating Officer (COO), effective immediately. Johnson brings to her new role extensive Property & Casualty industry e...
Posted: Jan 30, 2024