Reinsurance News
Speaking recently at the Geneva Association’s 50th Summit in Zurich, Switzerland, Walter Pasquarelli, OECD One AI Group of Experts, explained how artificial intelligence (AI) can effectively be applied into businesses, as well as the steps that or...
Posted: Nov 29, 2023
As the primary vs reinsurance debate rolls on, analysts in the Deutsche Bank European Insurance Team suggest reinsurers have “won the battle” so far in 2023 in terms of relative share price performance, particularly SCOR and Munich Re....
Posted: Nov 29, 2023
Coastal Insurance Underwriters (CIU), a program administrator specialising in designing, creating, and managing insurance products for a variety of business classes, has announced the appointment of two new Presidents. Taking over this position wi...
Posted: Nov 29, 2023
Global technology solutions company, Unisys has closed agreements with insurer F&G Annuities & Life, Inc. to purchase group annuity contracts totalling approximately $250 million. Through these contracts, Unisys will transfer projected ben...
Posted: Nov 29, 2023
In 2023, 15,700 people have lost their lives to extreme weather disasters in Africa, while another 34 million have been affected, highlighting the urgent need for action at COP28, says African Risk Capacity Limited (ARC). In a recent report, ARC o...
Posted: Nov 29, 2023
Arch Reinsurance has announced the appointment of Greg Habay as Managing Director, Head of Business Development and ILS Partners Relations. In his new role, based in New York, Habay will lead Arch Re’s Insurance-Linked Securities (ILS) business de...
Posted: Nov 29, 2023
Cytora, a digital risk processing platform, has partnered with ZestyAI, a company that leverages artificial intelligence for risk assessment, to bolster commercial property underwriting with integration of climate models. According to the announce...
Posted: Nov 29, 2023
KKR & Co. Inc. has announced a definitive agreement under which it will acquire the remaining 37% stake in the insurance company Global Atlantic, increasing its ownership to 100%. KKR will fund the transaction from its balance sheet, which had...
Posted: Nov 29, 2023
Bermuda-based insurer and reinsurer, AXIS Capital Holdings Limited, today announced the closing of the market’s first 144A cyber catastrophe bond, a $75 million Long Walk Reinsurance Ltd. transaction which provides the firm’s subsidiaries wi...
Posted: Nov 29, 2023
Independent insurance broker Lockton has announced the appointments of Christen Thorbjørnsen, Harry Nilsen, Nikolai Jørgensen and Sigbjørn Larsen to its Energy, Renewables and Property divisions in Norway. Industry veterans Thorbjørnsen and Nilsen...
Posted: Nov 29, 2023
AXIS Reinsurance, the reinsurance business segment of AXIS Capital Holdings, has appointed Jessica Coburn as Reinsurance Underwriting Head, Canada, effective immediately. In the role, she will report to AXIS Re President, North America, Jason Bust...
Posted: Nov 29, 2023
Substantial rate improvement, increased demand for protection, and rising investment income has led AM Best to maintain its stable outlook for the global reinsurance sector. As the January 1st, 2024, reinsurance renewals fast approaches, the ratin...
Posted: Nov 29, 2023
A number of new insurers are expected to enter the bulk annuity market, attracted by the record-breaking numbers and volumes of transactions, according to a new report from Hymans Robertson. The firm observed that transaction records in the risk t...
Posted: Nov 29, 2023
The data analytics and market insight platform, Broker Insights, has announced that James Hallam, part of the Seventeen Group, is now using its Broker Insights VisionTM platform. Broker Insights connects UK insurance brokers and insurance companie...
Posted: Nov 29, 2023
MAPFRE and technology provider Cyberwrite have joined forces to help the insurer’s clients reduce the risk of cyber-attacks with AI. The Spanish firm explained that Cyberwrite will provide it with a cyber insurance risk platform for SME comp...
Posted: Nov 29, 2023
AM Best has affirmed the credit ratings of RB-Brasil Resseguros S.A. (IRB) and assigned a negative outlook, as the agency acknowledges the reinsurer’s capital adequacy improvements. IRB’s Financial Strength Rating is A- (Excellent) and its Long-Te...
Posted: Nov 29, 2023
The Saudi Central Bank (SAMA) has announced that it has licensed ReTech Reinsurance Brokers Co for a soft launch phase to provide online reinsurance brokerage services. According to the announcement, this reflects SAMA’s endeavor to support...
Posted: Nov 29, 2023
Global insurance brokerage WTW has appointed Diego Ventosa Dünwald as Energy and Infrastructure Growth Leader, Natural Resources, based in North America and reporting to Bill Helander, Head of Natural Resources at WTW North America. In his new rol...
Posted: Nov 29, 2023
New York and Cayman-based Northern Reinsurance has successfully tripled its committed capital by securing an additional $50 million of funding, bringing the total to $75 million. According to Northern Re, the proceeds will enable it to capitalise...
Posted: Nov 28, 2023
Reinsurance brokerage Gallagher Re has promoted Mark Hansen, who has served as Chief Operating Officer (COO) for its North America division since 2021, as its new global COO, taking over from Chris Brook. Hansen has served as COO for Gallagher Re...
Posted: Nov 28, 2023
Active Insurance provider, Coalition, has appointed Oliver Bäte, the Chief Executive Officer (CEO) of global insurer Allianz SE, to its Board of Directors. Joshua Motta, Coalition’s Chief Executive Officer and Co-founder, commented on the addition...
Posted: Nov 28, 2023
BCS Financial has expanded its stop loss and reinsurance offerings to include new payer solutions in response to the growing gene therapy pipeline. Peter Costello, BCS President & Chief Executive Officer, commented, “Gene therapies offer...
Posted: Nov 28, 2023
Speaking at the Geneva Association Summit 50, MAPFRE’s Chairman and CEO, Antonio Huertas explained that the industry “must legislate on the ethical risk of AI”, emphasizing that this must be done judiciously. He explained that “o...
Posted: Nov 28, 2023
State National Companies, the Markel owned program, is set to enter the UK market beginning January 1, 2024. According to the announcement, State National is partnering with Markel International Insurance Company Limited to create a program servic...
Posted: Nov 28, 2023
In Q3 2023, the Quarterly Property/Casualty (P/C) Market Survey reported the 24th consecutive quarter of overall premium increases, but notably, Directors and Officers (D&O) insurance premiums saw a rare decline of -0.3%, marking the first dec...
Posted: Nov 28, 2023