Reinsurance News
IVANS, a division of Applied Systems, has reported renewal rate change for all major commercial lines of business except General Liability and Commercial Property are up year over year in November 2023. According to IVANS Index, November 2023 expe...
Posted: Dec 07, 2023
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a multilateral credit and political risk insurer, and the West African Development Bank (BOAD) have announced their partnership with climate change adaptation and c...
Posted: Dec 07, 2023
Speaking in Howden’s Q3/9M (re)insurance sector review, David Flandro, Head of Strategy Advisory, Howden Tiger, has suggested that for the first time in a long time, both the insurance and the reinsurance sector are poised to exceed their co...
Posted: Dec 06, 2023
HDI Global Insurance Company has strengthened its position in the U.S. market with the acquisition of 100% of Indiana Lumbermens Insurance Company (ILIC), a subsidiary of Pennsylvania Lumbermens Mutual Insurance Company (PLM), for an undisclosed p...
Posted: Dec 06, 2023
Independent insurance broker The Ardonagh Group has announced a number of changes to its senior management team for 2024, appointing Conor Brennan as Executive Chairman of Ardonagh International. In his new role, Brennan – who previously led...
Posted: Dec 06, 2023
Trium Cyber, the Lloyds of London cyber insurance specialist, has announced the appointment of Chris Bruno as Lead Underwriter for its Midwest territory. Josh Ladeau, Trium Cyber’s CEO, said: “Chris is a rock-solid underwriter with expertise honed...
Posted: Dec 06, 2023
Global specialty re/insurer SiriusPoint and program administrator ProVerity Underwriters have strategically partnered to develop customized solutions for the professional liability market. Founded in 2023, Philadelphia domiciled ProVerity combines...
Posted: Dec 06, 2023
With the protection gap affecting the industry at an accelerated rate, organisations are seeing increased risk exposure, an impact on pricing and reinsurance, as well as challenges to the industry’s long-term sustainability. Reinsurance News...
Posted: Dec 06, 2023
Reinsurance Group of America (RGA), a global life and health reinsurer, has launched Ruby Reinsurance Company (Ruby Re), a Missouri-domiciled third-party life reinsurance company targeting US asset-intensive business. According to the announcement...
Posted: Dec 06, 2023
Specialist marine managing general agent (MGA), Amphitrite Underwriting London, has hired David Harris as Non-Executive Chair, effective from January 1, 2024, subject to regulatory approval. Harris is a renowned veteran across the insurance indust...
Posted: Dec 06, 2023
Insuterch Floodbase and Oneglobal, a commercial re/insurance broker, have announced plans to develop and distribute parametric flood insurance solutions across Asia. The two companies are partnering to close the flood insurance gap with what they...
Posted: Dec 06, 2023
Amwins, Aon, BMS Group, Gallagher, Howden, Consilium and Costero have started using the new market reform contract (MRC v3) marking the first step to the full adoption of Blueprint Two. The two-year program builds on the foundations laid by Bluepr...
Posted: Dec 06, 2023
Pop Group Holdings (POP) has announced the appointment of Nicole Coleby as Managing Partner of Operations. In her newly formed role, Coleby will oversee operations across POP’s key entities, including Fusion Specialty M&A and Financial L...
Posted: Dec 06, 2023
Re/insurance broker Arthur J. Gallagher & Co. has acquired retail property/casualty agency Hunt Insurance Group, terms of the transaction were not disclosed. The Illinois-based agency opened in 1957 by Raymond Hunt. It specialises in labour un...
Posted: Dec 06, 2023
Property and casualty insurance company Chubb has announced the launch of its cyber protection partnership with NetSPI, a cybersecurity specialist. NetSPI is an expert in proactive security, aiming to strengthen its clients’ cyber-risk profile via...
Posted: Dec 06, 2023
Analysts at JP Morgan have reported that the pricing cycle is “probably close to the peak” in commercial lines. Underlining the backdrop for this statement, JP Morgan’s analysts highlighted that since 2018, prices in many lines o...
Posted: Dec 06, 2023
Tysers, a UK-based global broker, has selected ACORD Solutions Group, a provider of solutions for standardised data exchange throughout the global re/insurance industry, as its strategic messaging partner. Through this partnership, Tysers will int...
Posted: Dec 06, 2023
The Association of Mutual Insurers and Insurance Cooperatives in Europe (AMICE), in collaboration with the International Cooperative and Mutual Insurance Federation (ICMIF), unveiled the European Mutual Market Share 2023 report, showcasing the rob...
Posted: Dec 06, 2023
Industrial insurer HDI Global SE Singapore is set to enter the Asian Accident and Health (A&H) market with the underwriting appointment of Lisa Leow, who joins from Starr Insurance and brings more than two decades of insurance industry experie...
Posted: Dec 06, 2023
As destructive weather-related events show less predictable patterns and continue to increase in frequency and severity amid the warming climate, Veronica Scotti, Chairperson, Public Sector Solutions, Swiss Re, has suggested that “we need to...
Posted: Dec 06, 2023
Global insurer, American International Group (AIG) has announced the closing of its secondary offering of shares of Corebridge Financial, Inc. (CRBG) common stock. AIG, as the selling stockholder, sold 35 million existing shares of common stock (o...
Posted: Dec 06, 2023
Location intelligence and aerial imagery solutions provider, Nearmap has reached an agreement to acquire Betterview, the property intelligence and risk management platform, which the former says reinforces the its position as a leading source of i...
Posted: Dec 06, 2023
Hamilton Insurance Group has reported a Q3 2023 net income of $43.6 million, up considerably from Q3 2022’s loss of $136.1 million, while gross written premiums also grew 18.3% to $474.1 million. The firm’s overall combined ratio in Q3...
Posted: Dec 06, 2023
It should not come as a surprise that insurers are remaining somewhat cautious about adopting AI for customer-facing activities, especially given the lack of regulatory clarity. However, the opportunities to use AI technology to differentiate the...
Posted: Dec 06, 2023
Bondaval, a provider of technology-enabled credit insurance solutions, has appointed Ewa Rose as the Group’s Chief Underwriting Officer (CUO), based out of London, effective February, 2024. Rose’s remit in the new role will include lev...
Posted: Dec 06, 2023