Reinsurance News
Insurance Europe has reported that the region’s insurance industry, along with nine other European associations representing independent automotive service providers and consumers, have called on the European Commission’s President, Ursula v...
Posted: Jan 29, 2024
Independent insurance company manager Strategic Risk Solutions (SRS), has announced the acquisition of Robus Group from The Ardonagh Group, subject to regulatory approval. Robus operates from Guernsey and Gibraltar and provides professional manage...
Posted: Jan 29, 2024
Florida-domiciled insurtech, HCI Group, Inc., along with its majority-owned subsidiary, TypTap Insurance Group, Inc., will be modifying its relationship with Centerbridge Partners L.P. as it eyes greater operational and capital flexibility to bett...
Posted: Jan 29, 2024
Howden, the global insurance group, has named Mike Baker as the Chief Client Officer of Howden Asia, with immediate effect, based in Singapore and reporting to Goh Chye Huat, Chief Executive Officer, Howden Asia. Baker’s remit in the new role is t...
Posted: Jan 29, 2024
In April 2023, Weather Risk Management Services (WRMS), the agriculture and climate risk management firm, launched SecuRisk, a digital-first global parametric insurance marketplace, that aims to address the gaps and challenges in emerging economie...
Posted: Jan 29, 2024
Global specialty insurer and a subsidiary of Tiptree Inc., The Fortegra Group, Inc., has announced the launched of Fortegra’s initial public offering. According to the announcement, Fortegra has filed a registration statement on Form S-1 wit...
Posted: Jan 29, 2024
Despite the storms’ impacts being labeled as moderate compared to initial projections, the economic losses from Windstorms Isha and Jocelyn are anticipated to climb into the hundreds of millions of euros, according to Aon’s latest weekly cat...
Posted: Jan 29, 2024
62% of US insurers have said that they are willing to take more investment risk in 2024, even with concerns rising in regards to election year politics, fiscal/monetary policy, persistent inflation and volatility, according to a recent survey spon...
Posted: Jan 29, 2024
Álvaro Mengotti has joined the MDS Group, part of The Ardonagh Group, as an executive board member, an appointment that will help accelerate the Group’s Spain and Latin American expansion according to the announcement. At MDS Group Mengotti will w...
Posted: Jan 29, 2024
In a recent development, AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICRs) of American International Group, Inc. (AIG) and its property/casualty (P/C) insurance subsidiaries to “a+” (Excellent) from “aR...
Posted: Jan 29, 2024
According to the latest edition of WTW’s Natural Catastrophe Review, the numerous unanticipated disasters recorded in 2023 have highlighted the need for a “proactive approach” to risk identification, mitigation and adaptation. &#...
Posted: Jan 29, 2024
Australian primary insurer Suncorp anticipates the total cost of natural hazard events for H1 2024 to be approximately $568 million, which consists of six significant events during the period. Suncorp’s natural hazard allowance for FY24 is $...
Posted: Jan 29, 2024
McGriff, one of the largest retail insurance brokers in the U.S., has announced the promotion of Erik Zentler to the position of Practice Leader for its Aviation practice based in Seattle. Zentler, with nearly two decades of experience in aviation...
Posted: Jan 29, 2024
Conduit Holdings Limited (CHL), the parent company of Conduit Re, anticipates its comprehensive income for the year to be greater than current consensus forecasts, driven by a more positive valuation of investments. According to the firm, in the s...
Posted: Jan 29, 2024
Global insurance broker Howden’s carbon capture and storage insurance facility aims to unlock crucial investment to support the global transition to net zero and is the second innovative solution from the firm designed to support the growth...
Posted: Jan 29, 2024
Car insurance premiums in the UK have increased sharply by 58% in 2023 with UK motorists now paying £995 on average, according to the latest Confused.com Car Insurance Price Index in association with broker WTW. The Index recorded a £366 year-on-y...
Posted: Jan 29, 2024
With the cumulative effects of the winter storms across the United States, total economic and insured losses are anticipated to surge into the hundreds of millions USD, possibly higher, according to Aon’s latest weekly cat report released on Janua...
Posted: Jan 29, 2024
OneAdvent, a specialist managing general agent (MGA) and broker services platform, has launched a new MGA, Criterion Ltd, to provide a much needed service to the “critically underserved” recycling sector. Criterion will underwrite niche classes of...
Posted: Jan 29, 2024
The re/insurance industry is to see broad-based pricing momentum within casualty lines in 2024, mainly driven by social inflation, according to Robert Berkley, Jr., President and CEO of W. R. Berkley Corporation. In addition to social inflation, t...
Posted: Jan 26, 2024
Over half of US insurers are willing to embrace more portfolio risk in 2024 and to welcome artificial intelligence tools in the investment process, according to a recent survey by insurance asset management firm Conning. The survey was completed b...
Posted: Jan 26, 2024
In advance of the Senate Committee on Banking, Housing, and Urban Affairs’ hearing on the “Reauthorization of the National Flood Insurance Program: Local Perspectives on Challenges and Solutions,” Lee Covington, President of the...
Posted: Jan 26, 2024
UK-based flood science specialist JBA Risk Management has partnered with South African non-life insurer Old Mutual Insure for the use of its detailed flood maps in the country. Haydn Marchant, re/insurance Specialist, JBA Risk Management, commente...
Posted: Jan 26, 2024
In Arthur J. Gallagher & Co.’s Q4 earnings call, J. Patrick Gallagher, Jr., Chairman and CEO, provided insights into the 1/1 renewals in the reinsurance market, highlighting an orderly process and a more balanced supply-demand dynamic. T...
Posted: Jan 26, 2024
Analysts at Fitch Ratings have explained that their sector outlook for the UK non-life London market is improving for 2024, with price increases and higher reinvestment yields expected to offset claims inflation. The rating agency also says that d...
Posted: Jan 26, 2024
Hunter Point Capital (HPC), an independent investment firm providing capital solutions to alternative asset managers, has hired Phillip Titolo as a Managing Director and Head of Insurance Solutions, effective January 29, 2024. In his new role, Tit...
Posted: Jan 26, 2024