Reinsurance News
London headquartered Legal & General (L&G) has named James Shattock as the Managing Director for UK Protection, while Pippa Keefe has succeeded him as Commercial Director. These appointments follow the current Managing Director of UK Prot...
Posted: Nov 27, 2023
Kenya-domiciled reinsurance company, East Africa Reinsurance Company Limited, has expanded its operations with the establishment of its first subsidiary in Tanzania, as reported by Daily News. In a statement, the company said that the Tanzania Ins...
Posted: Nov 27, 2023
Ahead of COP28, the board of the V20 Finance Ministers and G7 initiative Global Shield against Climate Risks met virtually on November 15, where Co-Chair Dr. Bärbel Kofler, stressed that “concrete solutions for how to support marginalized people a...
Posted: Nov 27, 2023
International re/insurance broker Consilium, part of Aventum Group, has reported a 35% increase in revenue for the year ending June 2023 with Gross Written Premiums (GWP) at $600 million. The broker expects to reach $800 million GWP by June 2024,...
Posted: Nov 27, 2023
Aviva has announced the acquisition of Optiom O2 Holdings Inc from Novacap and other minority shareholders for a consideration of c.£100m (c.CAD$170m). Optiom, which operates as a managing general agent (MGA), provides vehicle replacement insuranc...
Posted: Nov 27, 2023
In a recent peer review conducted by Fitch Ratings, APAC non-life insurers with substantial international operations have demonstrated robust company profiles and commendable capitalisation, setting them apart from their peers in the US and EMEA....
Posted: Nov 27, 2023
With artificial intelligence (AI) continuing to make an impact across the industry, by transforming the insurance underwriting process, and the value chain by boosting efficiency and improving accuracy, the technology is also creating potential fo...
Posted: Nov 27, 2023
Life and retirement specialist Athene Holding Ltd., which is a Bermuda based subsidiary of global asset manager Apollo, has completed its first block reinsurance transaction in Japan, covering an in-force block of life insurance policies for FWD L...
Posted: Nov 27, 2023
In a strategic move to propel its third-party asset management activity, SCOR Investment Partners, the asset management arm of the SCOR Group, has made significant leadership appointments. Louis Bourrousse, formerly Head of Business Development an...
Posted: Nov 27, 2023
Specialist insurance provider, CFC, is now offering small and medium-sized enterprises add-on cyber coverage to their packaged insurance policies for professional services businesses. The insurer is offering broad cybercrime coverage, as well as g...
Posted: Nov 27, 2023
Berkshire Hathaway, the Warren Buffett-run holding company, has exited India’s Paytm by selling its 2.5% stake in the digital payments service provider via a bulk deal on Friday. The company sold its entire stake in the digital payments firm for a...
Posted: Nov 24, 2023
Everest Insurance International, a division of Bermuda-based insurer and reinsurer, Everest Group, Ltd., has added Tomi Latva-Kiskola and Swee Keong Mah to its Asia leadership team. Latva-Kiskola has been appointed as the Head of Insurance, Asia,...
Posted: Nov 24, 2023
Germany’s Talanx Group, the parent of global reinsurer Hannover Re, has completed the process of acquiring the business of Liberty Seguros with retail customers and small to mid-sized enterprises in Brazil, in line with the company’s announcement...
Posted: Nov 24, 2023
In a surprising turn of events, the impact of reinsurance market dynamics on direct clients within the energy sector has not unfolded as expected, according to the latest findings in the October 2023 Energy Market Review by WTW. Earlier in the yea...
Posted: Nov 24, 2023
Veronica Scotti, Chairperson, Public Sector Solutions at reinsurance giant Swiss Re, discusses how a more systemic use of a universal approach to measuring climate adaptation interventions could help catalyse the business case for action. Commenta...
Posted: Nov 24, 2023
Global broker Howden has announced that it has launched a new primary cyber and technology errors & omissions (E&O) facility. The facility has been developed in conjunction with the Lloyd’s Insurance Company According to the announcement,...
Posted: Nov 24, 2023
S&P Global Ratings has placed its long-term issuer credit ratings on 15 non-operating holding companies (NOHCs) of Bermuda-based reinsurers and insurers on CreditWatch with negative implications. The credit rating agency has also placed the is...
Posted: Nov 24, 2023
The African Reinsurance Corporation has announced its financial results for the first nine months of 2023 reporting strong growth in Net Profit, to $75.4 million, a “remarkable improvement” compared to the loss recorded at the end of the same peri...
Posted: Nov 24, 2023
UK pensions insurance specialist Rothesay has completed a £4bn buy-in with the Co-op Section of the Co-operative Pension Scheme. According to Rothesay, the buy-in secures the benefits for almost 50,000 members of the Scheme, which includes defined...
Posted: Nov 24, 2023
A new report by AM Best reveals a significant 9.9% contraction in insurers’ hedge fund holdings over the past year, reversing a two-year growth trend. The data suggests that insurers are navigating a changing landscape in the face of market...
Posted: Nov 24, 2023
The CCRIF SPC, formerly the Caribbean Catastrophe Risk Insurance Facility, has received a donation of $80,000 from the FirstCaribbean International ComTrust Foundation to enhance disaster preparedness among member governments. According to the ann...
Posted: Nov 24, 2023
Legal & General has announced that it has agreed to a £4.8 billion full buy-in with the Boots Pension Scheme, the UK’s largest single transaction of its kind by premium size. This buy-in secures the benefits of all 53,000 retirees and deferred...
Posted: Nov 24, 2023
Insurance Europe and PensionsEurope have jointly expressed their support for the European Commission’s proposed ESG (environmental, social, and governance) Rating Regulation while calling for further enhancements to ensure transparency, comp...
Posted: Nov 24, 2023
The Phoenix Group Holdings plc, a major UK life and retirement, risk transfer and savings company, has appointed Eleanor Bucks as an independent Non-Executive Director. The appointment is effective starting 1st December 2023. Alastair Barbour, Cha...
Posted: Nov 24, 2023
AmTrust Financial Services, Inc., a prominent U.S. small business insurer, has released its 2023 AmTrust Retail Risk Report, highlighting that January, not the hectic holiday season, is the riskiest month for workers in the retail sector. Contrary...
Posted: Nov 24, 2023