Reinsurance News
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
The Cayman Islands Monetary Authority (CIMA) has confirmed the issuance of 40 new international insurance licenses, the largest number of licenses issued in a single year in more than a decade, according to its quarterly insurance sector licensing...
Posted: Jan 26, 2024
In a strategic move towards fostering innovative climate solutions, QBE North America has launched the QBE Possibilities Fund. This initiative is dedicated to supporting collaborative early-stage climate projects aiming to contribute to a more res...
Posted: Jan 26, 2024
Global insurance group Howden, has added two new hires to its Cyber team, Kristoffer Haleen as Head of Cyber, Northern Europe and Manuel Perez Martín de la Hinojosa as Head of Cyber, Southern Europe and LATAM. Based in Sweden, Haleen joins Howden...
Posted: Jan 26, 2024
Arbol, the global climate risk coverage platform, has executed an innovative parametric risk transfer on the NASDAQ Veles California Water Index NQH2O. A first-of-its-kind trade, which has a call spread option that expires on June 20, 2024, repres...
Posted: Jan 26, 2024
Spanish insurance company MAPFRE has selected insurtech Akur8’s RISK and RATE modules to boost their pricing capabilities. According to the announcement, this collaboration will empower MAPFRE’s actuarial team to build powerful, explainable pricin...
Posted: Jan 26, 2024
Insurance and reinsurance broker Aon has added Jose Antonio Álvarez, the former Chief Executive Officer (CEO) of Santander, to its Board of Directors, effective January 24th, 2024. Lester B. Knight, Chair of Aon’s board, commented on the app...
Posted: Jan 26, 2024
Blink Parametric has extended its partnership with Blue Cross, as it has secured a further three-year with the Canadian insurance provider. The Irish insurtech has also announced its partnership with Baloise, one of the largest Swiss all-industry...
Posted: Jan 26, 2024
Arthur J. Gallagher & Co. has reported full year 2023 total revenues of $9.9 billion, up substantially from the $8.4 billion recorded in 2022. Gallagher’s core brokerage segment reportedly made up $8.6 billion of the total revenue, while...
Posted: Jan 26, 2024
Porch Group, a software-driven financial services firm and Aon have entered into a $30 million strategic agreement whereby the re/insurance broker will provide services to the company. Interestingly, the agreement includes the release of all claim...
Posted: Jan 26, 2024
A recent analysis by Aviva, the UK’s largest home insurer, has unveiled concerning findings regarding the vulnerability of new homes in England to flooding. The study reveals that 8% of new homes built in the last decade, equivalent to nearl...
Posted: Jan 26, 2024
In its preliminary results for the fourth quarter of 2023, Kemper has announced an estimated net income and adjusted consolidated net operating income between $45 million and $55 million. According to the firm, net income includes approximately $1...
Posted: Jan 26, 2024
Pacific Life Re, the global reinsurer and wholly owned subsidiary of Pacific Life, has reshuffled its organisational structure to move from a geographical-based to a product-based management structure, with two global lines of business: protection...
Posted: Jan 26, 2024
Scandinavian insurance company Tryg has reported its financial results for the fiscal year 2023, showcasing resilience and growth amidst a challenging operating environment. Tryg experienced a commendable premium growth of 4.8% in local currencies...
Posted: Jan 26, 2024
The results of the latest Applied Rating Index by Applied Systems shows that average premiums for both Personal Auto lines and Personal Property lines increased in Canada year over year, in the fourth quarter of 2023. According to Applied Systems,...
Posted: Jan 26, 2024
AM Best has revised the outlooks to positive from stable of Ocean Re, a Barbados-based reinsurer, a move that recognizes its disciplined underwriting. The rating agency also affirmed the reinsurer’s Financial Strength Rating (FSR) of A- (Excellent...
Posted: Jan 26, 2024
Carbon Underwriting, a specialist independent managing general underwriter (MGA) and Lloyd’s syndicate, has appointed Dale Willetts as Head of Specialty. Willetts’s priority in 2024 will be to spearhead the development and growth of Carbon’s...
Posted: Jan 25, 2024
Everest Insurance, the insurance division of Everest Group, Ltd., has launched a dedicated Private Equity practice, which will expand the organisation’s offerings across property and casualty (P&C) lines to serve the needs of private equ...
Posted: Jan 25, 2024
Overall, capacity was adequate for the completion of most programmes at the January 1st, 2024, reinsurance renewals, and with dedicated reinsurance capital growth in the double-digits, it was a positive renewal, according to Dean Klisura, Presiden...
Posted: Jan 25, 2024
The London Market Group has announced the appointment of two new board members, Jane Warren and Claire McDonald, as representatives of the different market Associations for 2024. Warren is an Active Underwriter for Liberty Specialty Markets’ Syndi...
Posted: Jan 25, 2024
Home insurance group, Hippo, has completed the placement of its 2024 reinsurance program with improved terms for the second year in a row. Rick McCathron, CEO and President, commented, “Our reinsurance partners have affirmed their confidence...
Posted: Jan 25, 2024
Chubb, the property and casualty (P&C) insurer, has hired Anna Källs as Country Manager for Sweden and Finland, effective from February 1, 2024. Källs joins the firm from global re/insurance broker WTW, where she served as Head of Large &...
Posted: Jan 25, 2024
Parametric insurance is said to be significantly disrupting and complementing traditional insurance models across the climate industry, by offering innovative solutions that address the shortcomings of conventional approaches. In the face of clima...
Posted: Jan 25, 2024
MS Amlin, the Lloyd’s global specialty re/insurer, has confirmed that its Singapore-domiciled operation, MS Amlin Asia Pacific Pte. Ltd (MS AAP), has secured collateralised capacity through numerous investors worldwide for the successful renewal o...
Posted: Jan 25, 2024
Guy Carpenter, a global risk and reinsurance specialist and a business of Marsh McLennan, has reported total revenue in Q4 of 2023 of $252 million, marking an increase of 9% on an underlying basis. For the year 2023, Guy Carpenter’s revenue...
Posted: Jan 25, 2024