Reinsurance News
Everest Reinsurance has appointed Mark Wallace as Head of the UK Branch and Chief Underwriting Officer, subject to regulatory approval. In the new role, Everest explained that Wallace will be responsible for managing and directing the strategy and...
Posted: Jan 08, 2024
Kinsale Capital Group, Inc. is set to undergo significant changes in its leadership structure, effective March 1, 2024. Michael P. Kehoe, the current Chief Executive Officer, will take on the additional role of Chairman of the Board. Concurrently,...
Posted: Jan 08, 2024
Following a reinsurance capital recovery in 2023, AM Best has observed that total reinsurance capital will return to $561 billion in 2024, which is less than 2% below the prior high watermark of $570 billion set in 2021. “The year 2023 prove...
Posted: Jan 08, 2024
Misui Bussan Pana Harrison, the Singapore based re/insurance broker that is 51% owned by the Mitsui & Co of Japan, has appointed Inyeong Yi as Head of Treaty Reinsurance and Strategic Growth. He joined the company in December, after more than...
Posted: Jan 08, 2024
Global credit ratings agency AM Best, has highlighted how despite the ongoing pressures from catastrophe-related and secondary peril losses, insurance firms within the US property & casualty (P&C) industry have been ablet to bolster their...
Posted: Jan 08, 2024
US-domiciled cyber insurer Cowbell has extended its cyber insurance capabilities by now catering to mid-market businesses in the UK with an annual turnover of up to £1 billion. Previously, the insurer only catered to small and medium-sized enterpr...
Posted: Jan 08, 2024
McGriff, a prominent retail insurance broker in the United States, has announced the promotion of industry veteran Mike Breedlove to the position of National Sales and Growth Leader. In his new role, Breedlove will be instrumental in shaping the o...
Posted: Jan 08, 2024
The Insurance Managers Association of Cayman (IMAC), the body representing the international insurance industry in the Cayman Islands, at its Annual General Meeting in early December, confirmed the appointments of new board positions for 2024. The...
Posted: Jan 08, 2024
Catastrophe risk modeller CoreLogic’s modelled insured loss estimate for the devastating, shallow magnitude 7.5 earthquake, which hit western Japan on New Year’s Day, includes damage from ground shaking, fires following, tsunamis, and...
Posted: Jan 05, 2024
In a year marked by unexpected challenges, the space insurance market faced a significant shift in the second half of 2023, reporting claims totaling USD 826 million, according to Gallagher Specialty’s Plane Talking – Q4 2023. Notably,...
Posted: Jan 05, 2024
According to Karen Clark & Company (KCC), the total insured losses from the magnitude 7.5 earthquake which struck off the west coast of the island of Honshu in Japan will reach $6.4 billion, with residential losses accounting for over two-thir...
Posted: Jan 05, 2024
As parts of the UK continue to be impacted by severe flooding, Ian Bartholomew, Chief Underwriting Officer at flood insurance company FloodFlash, has confirmed that the company is working hard to ensure that most, if not all of its claims will be...
Posted: Jan 05, 2024
ShoreOne Insurance Managers has appointed Russell (Russ) Carlson as Chief Financial Officer (CFO), joining the executive leadership team, where he will report to the company’s Chairman & Chief Executive Officer, Nick Steffey. Based in Ma...
Posted: Jan 05, 2024
Florida’s Insurance Commissioner, Michael Yaworsky, has highlighted significant achievements in 2023 aimed at fostering a stable and competitive insurance market for the state’s policyholders. The accomplishments were made in conjuncti...
Posted: Jan 05, 2024
Pan-American Life Insurance Group (PALIG), a provider of life, accident and health insurance, has completed the acquisition and merger of Encova Life Insurance Company (Encova Life). Encova Life Insurance Company is an affiliate of the Encova Mutu...
Posted: Jan 05, 2024
In a recent report, JP Morgan analyses the European reinsurance market, highlighting its resilience despite record-breaking increases in 2023. As of the January 2024 renewals, the market continues to show firmness, maintaining positive momentum fr...
Posted: Jan 05, 2024
The Hanover Insurance Group, Inc. has appointed Mina S. Rona as president of technology and life sciences. Rona joined The Hanover eight years ago and has since played “a key role” in the expansion of the firm’s technology and li...
Posted: Jan 05, 2024
IQAX Limited, a global information technology company, has announced that it has entered into a strategic partnership with COSCO Shipping Captive Insurance Co., Ltd., a Chinese shipping insurance firm, to promote the capabilities of IQAX electroni...
Posted: Jan 05, 2024
Private equity-owned insurers have significantly expanded their influence in the life/annuity sector, marking a substantial 15% year-over-year growth in their share of admitted assets in 2022, according to AM Best. This surge in private equity inv...
Posted: Jan 05, 2024
QBE Re has appointed Salvatore Sama as Global Product Head for Casualty, Jane Farren as Global Head of Financial Professional Lines, and Derek Durst as Global Head of Cyber. The three Global Product Heads, expected to take up their new positions t...
Posted: Jan 05, 2024
Rokstone, a speciality re/insurance MGA and part of Aventum Group, has signed a binder agreement with Munich Re Syndicate Limited (MRSL) to “bolster the expansion of its international property risks portfolio.” According to Rokstone, t...
Posted: Jan 05, 2024
The Board of Directors at Lyft Inc., have appointed reinsurance veteran, Jill Beggs to serve as a member of the Board, effective immediately, serving as a Class III director with a term of office expiring at the Company’s 2025 Annual Meeting of St...
Posted: Jan 05, 2024
The Board of Directors at Lyft Inc., have appointed reinsurance veteran, Jill Beggs to serve as a member of the Board, effective immediately, serving as a Class III director with a term of office expiring at the Company’s 2025 Annual Meeting of St...
Posted: Jan 05, 2024
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has hired Andrew Jackson as Global Head of Business Development and Market Management. In the role, he will report to Phil Hobbs, President and Managing Director, LSM, He wil...
Posted: Jan 05, 2024
If losses from the recent earthquake that struck the west coast of Japan on January 1 were to hit individual companies’ earthquake reinsurance excess-of-loss layers, it could fuel rate increases in the upcoming 1 April reinsurance renewal, says AM...
Posted: Jan 05, 2024