Reinsurance News
The cyber insurance market witnessed a major shift between 2022 and 2023, with a combination of positive trends and facts ultimately creating a soft cyber insurance market, which included higher pricing after a two-year hard market, reduced claim...
Posted: Jan 12, 2024
BMS Re, the specialty reinsurance arm of global broker BMS Group, has appointed Daryl Polenz as Executive Vice President (EVP) of Origination, where he will work closely with Russ McGuire, Head of Origination. Polenz will also have a key focus on...
Posted: Jan 12, 2024
JP Morgan’s Love Actuary note on the fourth quarter of 2023 reveals a relatively optimistic outlook for the reinsurance industry, supported by a slightly below-average level of natural catastrophe losses during the period. The financial gian...
Posted: Jan 12, 2024
Bridgehaven Insurance, the pioneering hybrid fronting insurer in the UK, has strategically partnered with Alchemy Underwriting, a newly established Managing General Agent (MGA) founded in late 2022. The two entities are thrilled to announce a stra...
Posted: Jan 12, 2024
AXA XL Canada has bolstered its Fine Art and Specie team, with the appointments of Caitlin McCullough and Sarah Mitchell, who take on the roles of Senior Underwriter and Underwriter, Fine Art & Specie, Canada. They are both based in Toronto. M...
Posted: Jan 12, 2024
Catastrophe risk modeller Moody’s RMS estimates that the total insurance industry loss from the magnitude 7.5 earthquake that struck Japan on New Year’s Day will likely fall between $3 billion and $6 billion. This estimate from Moody&#...
Posted: Jan 12, 2024
In a recent report, Morgan Stanley has shed light on the growing concerns surrounding social inflation, predicting it to be a significant headwind for the insurance industry throughout 2024. Social inflation refers to the trend of insurers’...
Posted: Jan 12, 2024
Reinsurance broker Gallagher Re has promoted Etienne Busson to the role of Head of Life & Health, EMEA, from his previous position as Deputy Head of the business. Busson has been with Gallagher Re since December 2018 when he joined from reinsu...
Posted: Jan 12, 2024
PIC has promoted nine people to be departmental heads within its Origination, Reinsurance and Transitions teams. As per PIC, Tristan Walker-Buckton has been named Co-Head of Origination, having formerly served as Head of Pricing. Walker-Buckton jo...
Posted: Jan 12, 2024
In the past year, a staggering 43 sovereign debt downgrades have swept across the globe, with concerns mounting over governments’ ability to meet their financial obligations, according to global specialty (re)insurance group Chaucer. High in...
Posted: Jan 12, 2024
The London and International Insurance Brokers’ Association (LIIBA) has released its 2024 plans, outlining strategic priorities that include navigating the political landscape, harnessing artificial intelligence (AI) impacts on trading syste...
Posted: Jan 12, 2024
Berkshire Hathaway Specialty Insurance (BHSI) has expanded its marine capabilities with the appointment of Nick Holding as Head of Marine in the UK, based in London. This move follows the ongoing growth of the company’s marine portfolio. Nick Majo...
Posted: Jan 12, 2024
Specialty Insurance Broker McGill and Partners has appointed John Judice as the new President of its US business segment, where he will focus on driving business development activity across the firm’s specialty platform. Judice has over two...
Posted: Jan 12, 2024
The Florida Office of Insurance Regulation (OIR) has reported a year-on-year rise in the amount of reinsurance coverage purchased by domestic Florida insurers in 2023, as the cost of protection rose for buyers amid the hardening market landscape....
Posted: Jan 11, 2024
At a special general meeting held earlier today, R&Q Insurance Holdings Ltd.’s shareholders approved the sale of the company’s program management business, Accredited, which is expected to close in the first half of 2024. The globa...
Posted: Jan 11, 2024
Parsyl, the supply chain insurer, has more than doubled its Essential Consortium to $55 million in capacity, ultimately making it one of the largest cargo only consortiums at Lloyd’s for perishable commodities. The company launched the $20 million...
Posted: Jan 11, 2024
Phinsys, the finance automation software provider for the re/insurance industry, has been selected by specialty re/insurer Inigo Limited, to deliver a digital, optimised finance and accounting function. Phinsys’ new partnership with Inigo un...
Posted: Jan 11, 2024
Virgil Antonio de Souza joins the reinsurance broker from Brazil’s IRB (Re), and assumes responsibility for leading Gallagher Re’s Surety and Credit practice across Latin America and the Caribbean. He is set to join Gallagher Re’...
Posted: Jan 11, 2024
International specialty insurance firm, Ryan Specialty, has expanded its renewable energy insurance offering on a global basis with PERse International, a managing general underwriter (MGU) based in London. The MGU has a particular focus on both o...
Posted: Jan 11, 2024
In a recent report, Supercede, a reinsurtech software specialist, has unveiled insights into the industry’s movement towards digital platforms, showcasing a measured pace in the adoption of innovative solutions. Amidst the critical January 2...
Posted: Jan 11, 2024
Insurance broker, and business of Marsh McLennan, Marsh, has promoted Patrick Hennessy to the role of Northeast Zone Leader effective immediately. In the role, he is expected to lead the broker’s eight offices across the Northeast region of...
Posted: Jan 11, 2024
NFP, a property and casualty (P&C) broker, has announced the appointment of Amanda Ruback to spearhead the P&C business in its Central region. In her new role, Ruback will collaborate with NFP’s Central region, industry group, and ri...
Posted: Jan 11, 2024
The World Economic Forum’s Global Risks Report 2024 signals a heightened global risk landscape, with misinformation and disinformation identified as the foremost short-term threats. Simultaneously, concerns about extreme weather events and c...
Posted: Jan 11, 2024
Clyde & Co, the global law firm, successfully represented insurers in securing a major decision from the Thai Court confirming denial of coverage for a catastrophic failure of a wind turbine. From what we understand, the decision held that the...
Posted: Jan 11, 2024
Bridgehaven Insurance has appointed Paul Dilley as Chief Underwriting Officer, subject to regulatory approval. Dilley joins Bridgehaven from Intact Insurance Group, where he was responsible for Intact International Specialty (UK and Europe). Befor...
Posted: Jan 11, 2024