Reinsurance News
Hannover Re, one of the world’s largest reinsurers, is anticipating net income of at least €2.1 billion for 2024 and a combined ratio of below 89% in its property and casualty (P&C) reinsurance business in the period, as the firm unveils...
Posted: Dec 12, 2023
Backed by the European Space Agency, insurtech start-up BirdsEyeView has raised an undisclosed seven-figure sum as it looks to expand in UK and US markets and further develop its RAPTOR™ technology. The latest investment round was led by th...
Posted: Dec 12, 2023
Fitch Ratings has outlined a neutral outlook for the Latin American insurance markets in 2024, citing stable operating conditions and economic growth. Despite positive premium growth projections, the sector is expected to experience a more moderat...
Posted: Dec 12, 2023
Liberty Specialty Markets, a subsidiary of Liberty Mutual Insurance Group, has promoted Patrick Bravery to Head of Construction, LSM, London Markets, effective immediately. Bravery will continue to report to Melanie O’Neill, Chief Underwriting Off...
Posted: Dec 12, 2023
Global Re, a full-service global reinsurance firm, has selected DXC Assure Reinsurance as its core administration solution, which will help underpin its expansion in the Middle East. During its seven-year contract, DXC Technology’s reinsurance sof...
Posted: Dec 12, 2023
Allianz SE has announced that Nina Klingspor, currently CEO of Allianz Private Krankenversicherungs-AG, Allianz’s private health insurance business in Germany (APKV), will be appointed as the new Chief Executive Officer (CEO) of Central Euro...
Posted: Dec 12, 2023
High Premium Group (HPG) members have clubbed together to provide Funds At Lloyd’s (FAL) to support approximately £5 million of underwriting capacity in three Lloyd’s Syndicates. The group, led by Dhruv Patel OBE, Deputy Chair of HPG a...
Posted: Dec 11, 2023
Global insurance brokerage WTW revealed that U.S. commercial insurance prices have sustained a consistent upward trend throughout the third quarter of 2023. According to the Commercial Lines Insurance Pricing Survey (CLIPS) conducted by WTW’...
Posted: Dec 11, 2023
Sompo International Holdings Ltd., a Bermuda-based holding company, has appointed Stephen Barr as Head of Marine & Energy Liability Insurance, London Market. In his new role, Barr will be based in London, where he will report to Paul Ashworth,...
Posted: Dec 11, 2023
Global insurance and reinsurance broker Aon has announced the successful renewal and expansion of Aon Client Treaty (ACT), the firm’s flagship London Market placement facility. According to the announcement, in 2024, ACT will offer 22.5% co-...
Posted: Dec 11, 2023
Duck Creek Technologies has appointed Barbara Bufkin and Diane Fanelli to its board of directors. Duck Creek describes Bufkin as a C-suite executive leader with vast experience in the insurance and reinsurance industry, having previously served in...
Posted: Dec 11, 2023
Global private equity firm Permira, has announced that a company backed by the Permira funds has agreed to acquire GGW Group, an European insurance brokerage platform for small and medium-sized enterprises. According to the announcement, the Permi...
Posted: Dec 11, 2023
Ernst & Young LLP (EY US) has forged an alliance with Moody’s Analytics, Inc, which combines EY’s consulting services with Moody’s financial intelligence and analytical tools. The EY-Moody’s Alliance provides clients wi...
Posted: Dec 11, 2023
Marsh, a global insurance broker and risk advisor, has partnered with specialist insurer Beazley to incentivise environmental, social, and governance (ESG) excellence in the construction sector. The collaboration offers construction contractors ac...
Posted: Dec 11, 2023
Manulife Financial Corporation has agreed to reinsure a combined $13 billion of reserves across four legacy/low ROE blocks to Global Atlantic and its partners. As per Manulife, the blocks include portions of U.S. LTC, U.S. structured settlements,...
Posted: Dec 11, 2023
French reinsurance company CCR Re has appointed Vito Gattuso as a Credit & Surety Underwriter. According to the announcement, Gattuso’s addition strengthen the Specialities & Global Risk team within CCR Re’s Underwriting Department. He joi...
Posted: Dec 11, 2023
Lloyd’s focused investment vehicle Helios Underwriting has announced its pro-forma Net Asset Value (NAV) per share as at September 30, 2023, has increased 17%, to £1.76. Martin Reith, Helios’ Chief Executive Officer, commented: “Helios’...
Posted: Dec 11, 2023
Global insurance brokerage WTW has appointed Rupert Roberts as Head of Corporate Risk and Broking (CRB) for Southeast Asia, and Christine Lau as Head of CRB Singapore. Both appointments are effective January 2nd, 2024. Luke Ware, Head of CRB Asia,...
Posted: Dec 11, 2023
Miller has announced that GIC, a global institutional investor, and Cinven, an international private equity firm, have reached an agreement for GIC to acquire Cinven’s shares in Miller, “securing its long-term independent future as a leading...
Posted: Dec 11, 2023
Allianz has announced that it has developed a machine learning tool called ‘Incognito’ that is set to tackle growing fraud claims. Experts across the Allianz UK business have collaborated in developing and building the machine-learning tool. From...
Posted: Dec 11, 2023
The U.S. Chamber of Commerce’s U.S.-Korea Business Council (USKBC) has announced that Evan G. Greenberg, Chairman and CEO of global insurer Chubb, has been elected Chairman of the USKBC, effective January 1, 2024. The USKBC, comprised of leading U...
Posted: Dec 11, 2023
Ardonagh Advisory has acquired insurance technology and risk management services company RiskSTOP. Based Poundbury, Dorchester, RiskSTOP was founded in 2000, and provides risk management surveys and ancillary services to the UK insurer and broking...
Posted: Dec 11, 2023
Bermuda-based insurer and reinsurer, Aspen Insurance Holdings Limited, has confirmed that it is mulling an initial public offering (IPO) of its ordinary shares in 2024, subject to satisfactory market conditions. The announcement from Aspen confirm...
Posted: Dec 11, 2023
QBE Re, the reinsurance arm of QBE Insurance Group, has appointed Ashish Ahluwalia as its new Global Head of Performance and Portfolio Analytics. In this new role, Ahluwalia will act as a strategic advisor to support portfolio construction and cap...
Posted: Dec 11, 2023
The London & International Insurance Brokers’ Association (LIIBA) has appointed Gina Butterworth, Chief Operating Officer of Gallagher Re UK, Margarita Hutley, Director, Iris Insurance Brokers, and Holly Shepherd, Managing Director of Shepherd...
Posted: Dec 11, 2023