Reinsurance News
Speaking at Lloyd’s Q4 2023 Market Message, Patrick Tiernan, Chief of Markets, explained that cyber underwriting will remain a key clear focus class of growth for 2024. Tiernan stated that for 2024, plan GDP growth is shy of 20%, which remai...
Posted: Dec 04, 2023
Aspen, the Bermuda headquartered global specialty insurance and reinsurance company, is reportedly opting for New York as a venue for an initial public offering (IPO), rather than London, according to the Financial Times. It’s been reported...
Posted: Dec 04, 2023
Insurity, a provider of cloud-based software and analytics for insurance carriers, brokers, and MGAs, announced that insurers leveraging Insurity’s AI have reported an astounding 75% reduction in average support time. Insurity’s cloud-native...
Posted: Dec 04, 2023
Specialist insurer Beazley has selected Decision Research Corporation (DRC), a provider of enterprise software solutions for the Property and Casualty insurance industry, to help power its next generation of pricing tools. To do so, the London-bas...
Posted: Dec 04, 2023
Bermuda has stated its ambition of becoming the world’s “climate risk capital”, from its existing position as the underwriting hub of one third of the world’s climate catastrophe insurance. The Government of Bermuda shared this stateme...
Posted: Dec 01, 2023
Hanna Norumhas has been appointed as the General Representative for Norway, by Lloyd’s Insurance Company S.A. (Lloyd’s Europe). This appointment follows the retirement of Espen Komnaes, and is effective starting December 1st 2023. Most recently, N...
Posted: Dec 01, 2023
BroadRiver Asset Management, L.P. has successfully concluded its acquisition of the US and Bermuda businesses of Lombard International Group. Andrew Plevin, Co-Founder and Co-CEO of BroadRiver, expressed enthusiasm about the transaction, stating,...
Posted: Dec 01, 2023
Aon has approved Embrace Partners, a minority-owned insurance broker and managing general underwriter (MGU), to act as a wholesale broker in the US. With this move, Aon brokers, at its clients’ direction, can now begin placing insurance thro...
Posted: Dec 01, 2023
In the face of escalating environmental challenges, Singapore has emerged as the highest-ranked global Asian city for overall resilience, securing the 4th position out of 25 major cities worldwide, according to The Resilient Cities Index 2023 laun...
Posted: Dec 01, 2023
US 10-year Treasury yields are expected to average 4.2% over the long term, according to the Swiss Re Institute, a figure 40 basis points above its previous forecast. Long-dated US Treasury bonds have sold off sharply this autumn, surprising many...
Posted: Dec 01, 2023
American International Group (AIG) has announced it will sell off another 35 million existing shares of common stock at $20.50 per share, as it continues to raise funds from the retirement services company while remaining the major shareholder. Ac...
Posted: Dec 01, 2023
In a recent analysis by RBC Capital Markets, the UK life insurance industry is poised for a remarkable year in 2023, with projected volumes reaching approximately £50 billion, surpassing the previous record of £45 billion in 2019. This surge is at...
Posted: Dec 01, 2023
HCI Group, Inc. announced its sponsored reciprocal insurer, Condo Owners Reciprocal Exchange (CORE), obtains a certificate of authority from Florida regulators, allowing it to transact insurance in the state. The Florida-based holding company, wit...
Posted: Dec 01, 2023
International specialty insurance firm, Ryan Specialty, has appointed Thomas Nash as President of CorRisk Solutions, effective December 1st, 2023. CorRisk is the wholesale distribution professional liability managing general underwriter, a part of...
Posted: Dec 01, 2023
Global credit ratings agency AM Best has confirmed that it is maintaining a stable outlook on Vietnam’s non-life insurance segment. The agency cities premium growth and regulatory enhancements that strengthen risk management and corporate governan...
Posted: Dec 01, 2023
Rothesay, a prominent UK pensions insurance specialist, has successfully executed a £2.7 billion transaction to insure all liabilities of the Thales UK Pension Scheme. This comprehensive deal covers over 16,000 members, including 10,512 pensioners...
Posted: Dec 01, 2023
Genpact, a global professional services firm, is collaborating with Amazon Web Services (AWS) and Amazon Business to introduce a transformed approach to property loss replacement and claims management. The aim is for Genpact to use its claims mana...
Posted: Dec 01, 2023
Global insurer, American International Group, Inc. has named Rose Marie Glazer as the General Counsel, effective immediately. Glazer served as Interim General Counsel since October 1, 2023, overseeing AIG’s legal, compliance, regulatory and govern...
Posted: Dec 01, 2023
Markel, the insurance operations segment within Markel Group Inc., revealed that Bob Cox, President and Chief Operating Officer, Global Insurance Operations, will be stepping down from his role on December 31. Cox has played a pivotal role over th...
Posted: Dec 01, 2023
Technology has helped make health insurance more accessible, but there are still challenges to overcome, such as its quality, access to it, and its democratisation, Niti Pall, Board Chair, HARBR, highlighted at the Geneva Association’s 50th Summit...
Posted: Dec 01, 2023
Property, casualty, and accident & health insurer, Crum & Forster, has appointed Brock Masterson to the company’s Surety Division as a member of its executive leadership team. Masterson will be based in the company’s Morristown...
Posted: Dec 01, 2023
In response to the recent surge in interest rates, the global reinsurance market has experienced a mixed landscape, according to a report by AM Best. The rise in interest rates has triggered concerns about unrealised investment losses, but reinsur...
Posted: Dec 01, 2023
Global reinsurer, Swiss Re ahead of its transition from US GAAP to the IFRS accounting standard, has set a new IFRS target for net income of more than $3.6 billion for 2024. Simultaneously, the Life & Health Reinsurance segment is expected to...
Posted: Dec 01, 2023
Sandy Smith assumes oversight of the team of risk management specialists in her new role as Vice President, Risk Management, at ICW Group Insurance Companies. Paul Zamora, Senior Vice President, Workers’ Compensation, ICW Group, commented on...
Posted: Dec 01, 2023
The aim of this partnership is to provide executive lines insurance products exclusively to the wholesale brokerage community. The Distinguished Executive Lines business will begin accepting submissions on January 2nd, 2024. Distinguished will ini...
Posted: Dec 01, 2023