Reinsurance News
Speaking recently at the Geneva Association’s 50th Summit in Zurich, Switzerland, Jad Ariss, Managing Director, explained in his opening remarks that although insurance has grown in relevance, insurability is being increasingly challenged as...
Posted: Nov 28, 2023
Carbon Underwriting Limited’s Syndicate 4747 is expecting gross written premium (GWP) to increase from GPB 150 million in 2023 to an expected GBP 204 million in 2024 across a staggering number of new product lines and geographies. At the sam...
Posted: Nov 28, 2023
A recent panel hosted by AM Best, that included insurance and technology experts, examined how Generative AI and ChatGPT technologies will play a key role in driving the customer experience across the industry. The panel featured, Arun Balakrishna...
Posted: Nov 28, 2023
Tokio Marine HCC International (TMHCCI) has announced it is pursuing further growth in the UK regional Professional Risks market with the appointment of three new underwriters and the opening of a new office in Manchester. Joining TMHCCI’s Birming...
Posted: Nov 28, 2023
Costero Brokers, a privately held London-based brokerage, has announced the appointment of Jonathan Olley as Cyber Divisional Director, effective November 27, 2023. In his new role, Olley will focus on the growth of Costero’s cyber offering,...
Posted: Nov 28, 2023
As per the BofA Securities annual reserve review, European non-life insurers remain “strongly reserved and well placed to deal with shocks, despite the impact of higher-than-expected inflation in recent years.” Analysts at BofA Securit...
Posted: Nov 28, 2023
In a recent speech at the National Press Club, Insurance Council of Australia (ICA) CEO Andrew Hall warned of a widening “protection gap” in the insurance market, posing a significant threat to Australians’ financial security. Ha...
Posted: Nov 28, 2023
Moody’s Investors Service has affirmed the A2 insurance financial strength rating (IFSR) of Allianz S.p.A., the Italian subsidiary of Allianz SE, and simultaneously revised the outlook from negative to stable. The rating affirmation and outl...
Posted: Nov 28, 2023
Independent specialist insurer and reinsurer Apollo has revealed it will launch a new Specialty Treaty class of business within the Reinsurance Division of Syndicate 1969, 1 January 2024. As per Apollo, the new portfolio will focus on the niche cl...
Posted: Nov 28, 2023
London-based insurtech platform Insurwave has acquired AI technology designed for the specialty insurance market from EY. According to Insurwave, the AI technology has been integrated into its existing platform, which focuses on providing insurers...
Posted: Nov 28, 2023
The Forum of Insurance Lawyers (FOIL), has announced the election of Pete Allchorne, Partner at international law firm DAC Beachcroft, as President, taking over the position from Nicola Critchley, Partner at DWF Law. Prior to this, Allchorne chair...
Posted: Nov 28, 2023
Maritime risks insurer, Falvey Insurance Group has appointed Tom Nasso as the Chief Underwriting Officer. He will be the newest addition to its executive team. Nasso had accepted the position in May but was on gardening leave until his start date...
Posted: Nov 28, 2023
According to reports by The Nation publication, the National Economic Council (NEC) is considering insuring Nigerians from unanticipated natural disasters like earthquakes and floods. The NEC is currently being chaired by Vice-President Kashim She...
Posted: Nov 28, 2023
Ratings agency AM Best is maintaining a stable outlook on Chile’s insurance market, supported by the market’s resilience on the back of improved dynamics despite global and domestic pressures. The strengthening of the regulatory framework in...
Posted: Nov 28, 2023
Insurance broker WTW predicts that catastrophe-exposed property business will see price increases of between +10% to +25% in 2024 and warns that while commercial lines price increases have started to stabilise, it’s a challenging and uncerta...
Posted: Nov 27, 2023
Alliant Insurance Services has hired Martin Khalaf as Senior Vice President within its Alliant Americas division. According to Alliant, Khalaf will leverage his expertise in property and casualty insurance, risk management and safety to provide co...
Posted: Nov 27, 2023
COP28 offers leaders ”another chance to refocus their efforts to tackle greenhouse gas emissions and spur a just energy transition” Swiss Re CEO Christian Mumenthaler has highlighted ahead of the climate meeting. The world is currently experiencin...
Posted: Nov 27, 2023
US broker Inszone Insurance Services, LLC has announced strategic investment from Lightyear Capital LLC, joining the company’s current investor, BHMS Investments, for its next phase of growth. Martin Sullivan, Operating Partner at Lightyear and fo...
Posted: Nov 27, 2023
Australian insurer QBE has reported that 3Q 2023 gross written premium (GWP) growth was 7% on the prior corresponding period, on both a reported and constant currency basis. The firm also disclosed that group-wide, renewal rate increases averaged...
Posted: Nov 27, 2023
PYREG, a German NetZero Tech company and specialist for high-tech biochar carbon removal and Kita, the global carbon insurance specialist, have established a memorandum of understanding (MOU) on the development of the world’s largest durable bioch...
Posted: Nov 27, 2023
As world leaders meet in the UAE this week for the annual COP climate conference, Ernst Rauch, Chief Meteorologist at European reinsurance giant Munich Re, has said that the United Nations is right when it says that climate action can’t wait...
Posted: Nov 27, 2023
Ratings agency AM Best has confirmed that it is maintaining its market segment outlook for the delegated underwriting authority enterprise (DUAE) segment at positive. The agency has citied the segment’s sustained growth and performance on a...
Posted: Nov 27, 2023
Property and casualty insurer Chubb has disclosed findings from a recent survey, indicating that U.S. mid-market companies, with a majority falling within the $10 million to $1 billion range, are significantly unaware and unprepared for the risks...
Posted: Nov 27, 2023
The Insurance Development Forum (IDF) Sovereign and Humanitarian Solutions (SHS) Working Group has noted that in 2024, it aims to consolidate Tripartite Programme gains as it continues on its mission to reduce the protection gap in vulnerable and...
Posted: Nov 27, 2023
Brokerslink, a broking business with a global broking network, has appointed Antony Erotocritou as a new Board Director representing Ardonagh Specialty. Ardonagh Specialty is the largest independent specialty broker in the London market with offic...
Posted: Nov 27, 2023