Reinsurance News
In its latest Risk Barometer, Allianz reveals that cyber incidents have claimed the top spot as the foremost global business risk for 2024. This concern is underscored by the rising threat of ransomware attacks, data breaches, and IT disruptions....
Posted: Jan 16, 2024
Arthur J. Gallagher & Co.’s reinsurance division, Gallagher Re, has acquired Toronto, Ontario-based MGB Re (MGB). MGB is a provider of reinsurance solutions to health maintenance organisations, managing general underwriters and insurance...
Posted: Jan 16, 2024
Guy Carpenter, the global risk and reinsurance specialist, and business of Marsh McLennan, has appointed Keith Wolfe to the newly created role of Chief Commercial Officer, North America, effective immediately. Wolfe joins the firm following a 27 y...
Posted: Jan 16, 2024
F&G Annuities and Life, Inc., has announced the closing of a $250 million preferred stock investment from parent Fidelity National Financial, Inc. (FNF), with F&G set to use net proceeds from the investment to support the growth of its ins...
Posted: Jan 16, 2024
FloodFlash has expanded its offering, with Delaware, Iowa, Missouri, New Jersey, New York, Oregon, South Carolina, Washington, Vermont and Massachusetts now having unrestricted access to its parametric product. FloodFlash explained that minimum pr...
Posted: Jan 16, 2024
InsurX, a digital exchange with algorithmic capacity, has launched in the London Direct & Facultative (D&F) Property market. This news follows the introduction of the InsurX Exchange last year, which launched with an initial capacity commi...
Posted: Jan 16, 2024
Brown & Brown Europe’s wholesale and specialty brokerage group, Bridge Specialty International, has agreed to acquire Singapore-based insurance broker Acorn International Network Pte Ltd. Licensed by the Monetary Authority of Singapore, Acorn...
Posted: Jan 16, 2024
QBE Re, the reinsurance arm of QBE Insurance Group, has announced the promotion of Amanda Lupkin to the position of Vice President (VP) and Head of the North America Health Practice. The promotion marks Lupkin’s continued ascent within the o...
Posted: Jan 16, 2024
Consilium, the global speciality (re)insurance broking business of the Aventum Group, has made a significant move by establishing a new office in the Cayman Islands. The firm has appointed Yaremis Hydes, a seasoned professional with over 17 years...
Posted: Jan 16, 2024
Commercial insurance and reinsurance software provider AdvantageGo has announced a strategic alliance with mea platform, an AI-powered processing provider for insurance companies. mea deploys technology, including AI, to solve problems for /re/ins...
Posted: Jan 16, 2024
Managing general underwriter MSL Captive Solutions, Inc. has appointed former Managing Director of Strategic Risk Solutions Bermuda (SRS), David Sykes, as its Chief Financial Officer (CFO), with immediate effect. At SRS, Sykes led the insurance ma...
Posted: Jan 16, 2024
Global reinsurance firm Swiss Re has purchased the market’s first cyber retrocession industry loss warranty (ILW), securing $50 million of catastrophic US cyber insurance event protection. Cover also includes protection against widespread maliciou...
Posted: Jan 16, 2024
The Indian insurance sector is expected to be the fastest growing among the G20 with total insurance premiums forecast to grow by 7.1% in real terms over 2024-2028, according to reinsurance giant Swiss Re. 7.1% growth over the next five years is w...
Posted: Jan 16, 2024
French reinsurer CCR Re has sponsored the sixth renewal of its reinsurance sidecar vehicle, 157 Re 24. According to the firm, access to the insurance-linked securities (ILS) market is an important part of its retrocession strategy, and despite ano...
Posted: Jan 16, 2024
Debevoise & Plimpton LLP, a prominent global law firm, has announced the appointment of Drew Dutton and Clare Swirski as co-heads of its UK/European insurance transactional and regulatory practice. This strategic move is aimed at bolstering th...
Posted: Jan 16, 2024
Global law firm Clyde & Co has released its market predictions for the insurance industry in 2024, outlining key developments and challenges expected to shape the sector in the coming year. The firm’s insights cover a range of issues, fr...
Posted: Jan 16, 2024
Pacific Catastrophe Risk Insurance Company (PCRIC) has appointed Irma Daphney Stone to the role of Risk Manager, where she will leverage her extensive expertise to provide technical guidance, leadership, and advice to the PCRIC Board and Managemen...
Posted: Jan 16, 2024
Global Indian broker JB Boda Group is confident of insurance and reinsurance market growth opportunities in the country as it looks to be the bridge between counterparties in an expanding marketplace, according to Managing Director, Rohit Boda. “R...
Posted: Jan 16, 2024
Global Indian broker J.B. Boda Group is confident of insurance and reinsurance market growth opportunities in the country as it looks to be the bridge between counterparties in an expanding marketplace, according to Managing Director, Rohit Boda....
Posted: Jan 16, 2024
Honigman LLP, a general business law firm, has added Rob Humphries to the firm’s Insurance Practice Group as partner. Humphries is dual qualified as a Cayman Islands and US attorney. He brings over 15 years of corporate and transactional insurance...
Posted: Jan 16, 2024
Mark Kollar Consulting Group and Understudy Insurance Services have launched a joint venture in Renewal Book Solutions, LLC, an artificial intelligence-backed renewal book marketplace. With the technology offered through Renewal Book Solutions, te...
Posted: Jan 16, 2024
In a recent report, Fitch Ratings anticipates a challenging year for the U.S. property casualty insurance (P/C) industry in 2024, marked by modest underwriting improvement following a tough 2023 with poor auto insurance results and significant cat...
Posted: Jan 15, 2024
Recent data from WTW’s Quarterly Deal Performance Monitor (QDPM) indicates a downturn in global mergers and acquisitions (M&A) activity in the final quarter of 2023, with buyers facing challenges in adding value. The study reveals that M...
Posted: Jan 15, 2024
Mediterráneo Vida (MEDVIDA), has completed it’s merger with MEDVIDA Partners, the Spanish insurance organisation – formerly known as CNP Partners, which was acquired by the group in 2022. The merged company, which manages close to €3.5...
Posted: Jan 15, 2024
Bridgehaven Insurance, the hybrid fronting insurer, and Avid Insurance, an accomplished Managing General Agent (MGA), have announced a strategic partnership. This collaboration aims to provide innovative property excess of loss insurance solutions...
Posted: Jan 15, 2024