Reinsurance News
In the face of escalating global risks, a new survey by The Geneva Association reveals that customers worldwide are increasingly turning to insurers for solutions that go beyond traditional coverage. The report, titled “The Value of Insuranc...
Posted: Nov 21, 2023
This summer’s wildfires in the Northwest Territories of Canada, particularly near Yellowknife and Hay River, have left a profound impact, resulting in over $60 million in insured losses, according to initial estimates from Catastrophe Indice...
Posted: Nov 21, 2023
The world’s most vulnerable countries could lose over 100% of GDP in 2024 from climate related disasters that are insurable, according to research from the Cambridge Institute for Sustainability Leadership (CISL) and broking group Howden, which al...
Posted: Nov 21, 2023
The Federal National Mortgage Association, (Fannie Mae) has executed its ninth and final Credit Insurance Risk Transfer (CIRT) transaction of 2023, transferring $270.7 million of mortgage credit risk to private insurers and reinsurers. Year to dat...
Posted: Nov 21, 2023
Vi Digital has partnered with Inari, a core technology infrastructure provider for the global re/insurance industry, to provide the start-up Managing General Agent (MGA) with a tailored underwriting platform solution. A specialist in algorithmic u...
Posted: Nov 21, 2023
Fidelis Insurance Group has reported that underwriting income for the 9M ended September 30, 2023, was $232.9 million, with a combined ratio of 82.4%, much improved compared to an underwriting loss of $17.2 million and a combined ratio of 101.6% f...
Posted: Nov 21, 2023
The Hanover Insurance Group has appointed veteran Stephen P. Marohn as President of Specialty Property and Casualty. Marohn brings to his new role more than 30 years of wide-ranging industry experience, along with an accomplished background in com...
Posted: Nov 21, 2023
Liberty Mutual Reinsurance, part of Liberty Mutual Insurance Group, has appointed Dionne Chisolm as Senior Underwriting Executive, effective immediately. Collectively, Chisolm holds more than three decades of professional experience in the insuran...
Posted: Nov 21, 2023
The UK government has unveiled its white paper on international development, outlining a strategic shift towards incorporating risk transfer, insurance, and innovative financial instruments, including catastrophe bonds, into its aid and developmen...
Posted: Nov 21, 2023
Taiping Reinsurance Co. Ltd (TPRe) and Taiping Reinsurance Brokers Ltd. (TPRB) have licensed Moody’s RMS Risk Modeler, an application on the cloud-native Intelligent Risk Platform. According to the firm, TPRe and TPRB are the first reinsurance bus...
Posted: Nov 21, 2023
In the third quarter of 2023, the global insurance market witnessed a dynamic landscape, as outlined in the latest insights provided by Aon. Several key factors shaped the market during this period, influencing pricing, capacity, underwriting prac...
Posted: Nov 21, 2023
China Reinsurance Group Corporation (China Re) and its subsidiaries have had their Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” (Excellent) affirmed by AM Best, with a stable outlook...
Posted: Nov 21, 2023
Artex, a global cell facility manager and captive, alternative risk transfer, and ILS capital solutions specialist service provider, has announced it is renaming its cell facility solutions globally to Artex Axcell over the next several months. Th...
Posted: Nov 20, 2023
Everest Insurance, the insurance division of Everest Group, Ltd., has appointed Patrick Hagerty as Senior Vice President and Head of US Retail Property. Based in New York, Hagerty will report to Mike Mulray, President, Everest Insurance North Amer...
Posted: Nov 20, 2023
A combination of both the growing frequency and severity of natural disasters, along with rising home repair costs and other economic factors, have contributed to less affordable homeowners insurance, according to a brief from the Insurance Resear...
Posted: Nov 20, 2023
Global data analytics and technology provider, Verisk, has introduced FairCheck, a comprehensive solution aimed at helping insurers assess their personal lines models and variables to address regulatory changes. FairCheck offers a customisable and...
Posted: Nov 20, 2023
RYSKEX Inc. has launched a new business unit called RYSKEX Consulting, which focuses on parametric risk transfer solutions. According to the announcement, the new unit’s risk transfer solutions are designed for efficacy and adaptability. The...
Posted: Nov 20, 2023
The International Union of Marine Insurance (IUMI) has unveiled its annual analysis of the global marine insurance market in the 2023 IUMI Stats Report. The report offers insights into the state of the marine insurance sector within the broader co...
Posted: Nov 20, 2023
Liu Song has been appointed to the role of Treaty Director of Volante Global’s Singapore unit, where he will have a focus on treaty reinsurance underwriting for the company. Song’s appointment was announced by Amy Fu, the MD of the Vol...
Posted: Nov 20, 2023
In a recent report by Aon, the Global Insurance Market Insights for Q3 2023 sheds light on the key challenges facing the Property insurance market as the industry approaches the crucial year-end period. As insurers gear up for the peak reinsurance...
Posted: Nov 20, 2023
During a recent interview with Reinsurance News, Moses Ojeisekhoba, CEO, Global Clients & Solutions, Swiss Re, suggested that building trust in digitalisation is key for re/insurers to make the most of the latest technology, which will in turn...
Posted: Nov 20, 2023
Placing Platform Limited has confirmed that, as planned, the next phase of the shutdown of the old PPL platform will go ahead in one month’s time, on December 15. From December 16, Next Gen, the new version of the London insurance market’s electro...
Posted: Nov 20, 2023
Discussing the upcoming P&I renewal for the policy year starting 20 February 2024, Skuld’s Board of Directors noted that the firm’s growth strategy is working, contributing positively to its overall performance, with premium income...
Posted: Nov 20, 2023
Insurtech wefox has announced the appointment of Paul Onnen as Chief Technology Officer (CTO), effective immediately, taking over the role from Sergi Banos who was promoted to Chief Platform Officer (CPO). In his new role, Onnen will lead the wefo...
Posted: Nov 20, 2023
Arbol has selected independent managing general agent, Pro MGA, to support the company in its UK launch and international MGA expansion strategy. Arbol is a technology-led underwriter of parametric risk transfer, climate and weather reinsurance. I...
Posted: Nov 20, 2023