Reinsurance News
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
More than 140 insurance industry plaintiffs, including State Farm, Swiss Re and Lloyd’s, have reportedly joined lawsuits filed against utilities and landowners related to the Maui, Hawaii wildfires, which destroyed much of Lahaina and killed...
Posted: Jan 25, 2024
Hannover Re appointed Olaf Brock as Managing Director of Hannover ReTakaful and the Bahrain Branch in Manama, effective January 1, 2024. Brock, most recently in the role of Managing Director Group Finance at Hannover Re, began his tenure with the...
Posted: Jan 25, 2024
Property and casualty re/insurer W. R. Berkley Corporation has reported a Q4 2023 combined ratio of 88.4%, including current accident year catastrophe losses of $32 million, as the company’s pre-tax underwriting income grew more than 8% to a...
Posted: Jan 25, 2024
Zug, Switzerland based reinsurer SIGNAL IDUNA Reinsurance Ltd (SI Re) further enhanced the profitability of its book at the January 1st, 2024, reinsurance renewals, while cutting its exposure to frequency risks and growing its share in non-proport...
Posted: Jan 25, 2024
International re/insurance group Aventum has promoted John Eldridge to the role of Managing Director. Eldridge was most recently Chief Commercial Officer of the group, having joined Aventum in 2020. Before this, he held leadership roles at a range...
Posted: Jan 25, 2024
Pan-African-focused reinsurance group Africa Specialty Risks (ASR) has been approved ‘in principle’ by the Dubai Financial Service Authority to register as a company, setting the stage for the incorporation of a new entity, ASR Middle East. Accord...
Posted: Jan 25, 2024
RLI Corp. has reported a full year underwriting income of $173.2 million on a combined ratio of 86.6%, compared to $178.2 million on a combined ratio of 84.4% in 2022. The firm explained that favourable development in prior years’ loss reserves re...
Posted: Jan 25, 2024
Bermuda-based reinsurer Conduit Re has reported estimated ultimate premiums written of $582.4 million at a “very strong” January 1st, 2024, reinsurance renewals for the company, driven by solid year-on-year growth in property and speci...
Posted: Jan 25, 2024
Reinsurance Group of America, Incorporated (RGA) has named Sunil Sharma as the country Chief Executive Officer (CEO) for RGA Life Reinsurance Company of Canada India Branch (RGA India). The appointment is subject to approval from the Insurance Reg...
Posted: Jan 25, 2024
The Progressive Corporation has reported a Q4 2023 net income of $1.99 billion, up a massive 141% compared with the same period of 2022. The firm also disclosed that its combined ratio smoothed out in the quarter, dropping down to 88.7% compared t...
Posted: Jan 25, 2024
In a strategic move to address the growing challenges of flood risk exacerbated by climate change, Capella Space Corp., a prominent American space tech company specialising in satellite solutions, has announced a partnership with Floodbase, a lead...
Posted: Jan 25, 2024
INSTANDA, a no-code, digital platform for insurance carriers and managing general agents, has announced the promotion of Katy Murray to vice president of client success, where she will oversee all client relationships in North America. In her new...
Posted: Jan 25, 2024
Florida-based broker AssuredPartners (AP) is expanding its leadership team with four new Regional Presidents named to run operations throughout the retail division of the global insurance brokerage, effective January 1, 2024. These include Jon Tay...
Posted: Jan 25, 2024
In a global report commissioned by Novidea, the digital transformation of the insurance industry takes center stage, revealing that 75% of insurance organisations worldwide are set to replace their core insurance management platforms by 2025. Howe...
Posted: Jan 25, 2024
Mark Cloutier, the Executive Chair and Group Chief Executive Officer (CEO) at insurer and reinsurer Aspen, takes over as First Deputy Chair of the Association of Bermuda Insurers and Reinsurers (ABIR) from Christopher Schaper. Cloutier has over 35...
Posted: Jan 24, 2024
Peter Vogt, the Chief Financial Officer (CFO) of Bermuda-based specialty insurer and reinsurer, AXIS Capital Holdings, said yesterday that while the firm explored numerous available options, it ultimately felt that strengthening its reserves provi...
Posted: Jan 24, 2024
Global credit ratings agency AM Best, has announced that it has removed from under review with positive implications, and upgraded the Financial Strength Rating to B+ (Good) from B (Fair) and the Long-Term Issuer Credit Rating to “bbb-” (Good) fro...
Posted: Jan 24, 2024
Property, casualty, and accident & health insurer, Crum & Forster, has announced the promotion of John Henriques to Senior Vice President and Chief Actuary of A&H. In his new role, Henriques will continue to lead the actuarial team in...
Posted: Jan 24, 2024
According to Fitch Ratings, reinsurance capital is estimated to have surged by 11%, reaching approximately USD 535 billion by the end of 2023, partially offsetting the losses incurred in the previous year. The global reinsurance industry witnessed...
Posted: Jan 24, 2024
ChainThat, a London-based insurtech, has announced the appointment of Vikas Acharya as Chief Executive Officer (CEO), with immediate effect. Acharya has rich enterprise technology experience in the insurance market, and as Co-Founder of the busine...
Posted: Jan 24, 2024
Since its inception in 2019, DeNexus, the specialist provider of cyber risk quantification tools and software, continues to invest heavily to improve its technology and analytics, and with the sixth version of its DeRISK platform in the works and...
Posted: Jan 24, 2024