Reinsurance News
Bridge Specialty Group, the Wholesale Brokerage segment of Brown & Brown, Inc. has appointed Tim Coles as Chief Executive Officer (CEO) for the European brokerage operations of Bridge Specialty Group. His new role is effective as of January 1,...
Posted: Nov 24, 2023
In a recent interview with Reinsurance News, Daisy Ning, Head of Life & Health Re APAC excluding China at Swiss Re, provided valuable insights into the insurance landscapes of various Asia-Pacific (APAC) markets. Singapore: Steady Growth and C...
Posted: Nov 23, 2023
The world’s oldest insurance market, Lloyd’s, has launched a consultation which sets out its proposed approach for the next three years across all areas of sustainability, as it looks to support global ambitions to achieve net zero. Th...
Posted: Nov 23, 2023
Harneys, a global offshore law firm with a specialism in re/insurance law, has hired Bermudian Litigation, Insolvency and Restructuring Partner Henry Tucker and appointed him as the firm’s Bermuda Office Managing Partner, effective November 21. Tu...
Posted: Nov 23, 2023
As per a new report from Fitch Ratings, reinsurance rate increases for property catastrophe business are likely to slow to below 10% on average when contracts are renewed in January 2024, though underlying profitability for the sector is still exp...
Posted: Nov 23, 2023
CarbonPool, a Swiss-based insurance start-up, has announced the appointment of Mathilda Strom as Chief Commercial Officer. An experienced entrepreneur, Strom brings to her new role nearly two decades experience in building category-defining busine...
Posted: Nov 23, 2023
CatX, a digital catastrophe and parametric risk exchange start-up, has successfully raised $2.7 million in seed funding to bring more alternative capital into the insurance sector. This funding round marks a key milestone for the company in its mi...
Posted: Nov 23, 2023
The latest data from ratings agency AM Best confirms that Chubb remains the largest cyber insurer in the US when ranked by direct premiums written (DPW) in 2022. With DPW of $604.9 million in 2022, Chubb tops the list of the top 20 US cyber insure...
Posted: Nov 23, 2023
Insurance broker Westland has announced the appointment of Don Thompson as its new Chief Operating Officer (COO), effective January 1, 2024. Thompson is an industry veteran with over three decades of experience in the insurance industry. In his ne...
Posted: Nov 23, 2023
French reinsurer CCR has estimated the cost of flooding in Hauts-de-France at €550 million, at least half of which will be covered by the reinsurer’s natural catastrophe scheme. The region has experienced unconventional flooding due to a successio...
Posted: Nov 23, 2023
In a recent fireside chat with Allianz’s head of investor relations, Oliver Schmidt, the insurance giant revealed that it could modestly increase its natural catastrophe budget. The move would aim to fortify the company’s underwriting...
Posted: Nov 23, 2023
Malaysia National Reinsurance Berhad (MNRB), the parent to Malaysian Re, has reported a strong financial performance for its first six-month period ended 30th September 2023, on the back of steady growth in the Group’s reinsurance and takaful busi...
Posted: Nov 23, 2023
Lloyd’s has released the updated forecasts for all syndicates’ 2021 and 2022 years of account. Argenta Holdings Ltd., an underwriting and insurance services group operating in the Lloyd’s Market, and a wholly owned subsidiary of reinsurer Hannover...
Posted: Nov 23, 2023
Kiwi insurer Tower has reported a net loss for the year ended September 30 2023, as the firm’s combined ratio deteriorated by more than 10 percentage points on the back of an elevated catastrophe loss experience. For the year to 30 September...
Posted: Nov 23, 2023
Beat Capital Partners has announced that Andrew Cunningham, former deputy active underwriter, has assumed the role of active underwriter of Syndicates 4242 and 1416, effective immediately. Cunningham is a qualified actuary and knowledgable underwr...
Posted: Nov 23, 2023
According to Skytek, the recent hijacking of the reportedly Israeli-linked ship, Galaxy Leader, has “worldwide implications for Israeli shipowners and ultimately the marine war underwriters.” Outlining the particulars of the event, Sky...
Posted: Nov 23, 2023
In a recent report by S&P Global Ratings, European insurers are navigating a challenging landscape marked by rapidly soaring interest rates in 2022, resulting in substantial unrealized losses on fixed-income investments exceeding €500 billion....
Posted: Nov 23, 2023
The UK government has announced it will be introducing secondary legislation to give effect to the planned Solvency II reforms, the prudential regulatory regime for insurers, at this year’s Autumn Statement. According to the announcement, this wil...
Posted: Nov 23, 2023
The Allstate Corporation has announced that Maria Morris, the former Executive Vice President, Global Employee Benefits at MetLife, has been elected to Allstate’s board of directors, effective January 2, 2024. She previously served on MetLife’s Ex...
Posted: Nov 23, 2023
Global consulting and actuarial firm Milliman has reported that the October estimated retiree pension risk transfer (PRT) cost reached 101.9% of a plan’s accounting liabilities (accumulated benefit obligation, or ABO). As per its latest Milliman P...
Posted: Nov 23, 2023
Global insurer RSA Insurance has appointed Linda Deans as a Senior Specialist Underwriter for US & International Property in its UK Specialty Lines business. Deans will assume the role in January and report to Jonathan Sigwart, Underwriting Le...
Posted: Nov 23, 2023
Global insurance brokerage, Arthur J. Gallagher & Co., has acquired Queensbury, New York-based Hughes Insurance Agency, Inc. Hughes Insurance Agency is a provider of comprehensive commercial, personal and life & health insurance services f...
Posted: Nov 23, 2023
International insurance firm, Ageas has reconfirmed its guidance for the 2023 net operating result to reach the upper end of the €1.1 to 1.2 billion range, even taking into account the recent storms that have taken place across Belgium, the UK and...
Posted: Nov 22, 2023
The HM Treasury’s Autumn Statement 2023 reveals that the UK government is set to consult on the introduction of a regime for captive insurance companies by spring next year. Presented today to Parliament by the Chancellor of the Exchequer, J...
Posted: Nov 22, 2023
AM Best has revised the credit rating outlooks of General Insurance Corporation of India (GIC Re) to positive from stable. Outlining the particulars, the rating agency has revised the outlook to positive from stable for the Financial Strength Rati...
Posted: Nov 22, 2023