Reinsurance News
Legal & General Retirement America (LGRA) has unveiled insights into the US Pension Risk Transfer (PRT) market for the third quarter of 2023. Following a record-breaking first half with a deal volume of $22.5 billion, the Q3 edition of the US...
Posted: Nov 17, 2023
With a blurring of lines between some risk retention groups (RRGs) and commercial lines carriers, as well as a trend to define standard coverage vs. E&S, the healthcare marketplace has become difficult to navigate, according to Amwins. In a re...
Posted: Nov 17, 2023
Sedgwick, a global provider of technology-enabled risk, benefits and integrated business solutions, has named Neil Gibson its CEO in the UK. According to Sedgwick, Gibson holds more than 18 years of insurance industry leadership experience and dec...
Posted: Nov 17, 2023
The insurance industry’s widened use of data and analytics positions it well for AI productivity gains, as many different insurers have been gradually leveraging AI technology for a number of years. In a recent report from Moody’s Inve...
Posted: Nov 17, 2023
Aegon, a Netherlands-headquartered multinational life insurance, pensions and asset management company, has released its trading update for the third quarter of 2023, stating operating capital generation, before holding funding and operating expen...
Posted: Nov 17, 2023
The Geneva Association has released a report warning that the increasing frequency of cyberattacks, coupled with geopolitical tensions, is exposing significant gaps in cyber insurance coverage. The report reveals a 38% surge in cyberattacks global...
Posted: Nov 16, 2023
Credit rating agency KBRA has assigned Orange Insurance Exchange, a new Florida-based insurer, an Insurance Financial Strength Rating (IFSR) of BBB, and given it a Stable Outlook. Launched in early November, Orange is a new domestic reciprocal pro...
Posted: Nov 16, 2023
Hallmark Financial Services has announced its financial results for the third quarter of 2023 reporting a net loss of $21.5 million, compared to the net loss of $28.1 million reported in the same period last year. According to the firm, the Q3 202...
Posted: Nov 16, 2023
In a significant move to bolster home insurance against natural disasters, New Zealand’s Earthquake Commission (EQC) has successfully implemented a law change doubling EQCover for homes in 2022. The amendment saw the EQC building cover surge...
Posted: Nov 16, 2023
Property & casualty insurer Chubb, has announced that Chubb Studio, the company’s global integration technology, has launched a new developer portal that will make it easier for its B2B2C partner companies to access and test its digital...
Posted: Nov 16, 2023
US life insurer Pacific Life has appointed Karen Neeley as Vice President and Head of the Institutional Retirement Solutions Group, where she will report to Executive Vice President and Head of Institutional Business Brian Woolfolk. Pacific Life h...
Posted: Nov 16, 2023
Brookfield Reinsurance, a financial services business operator providing capital-based solutions to the insurance industry, has completed the acquisition of Argo Group International Holdings, Ltd. in an all-cash transaction valued at approximately...
Posted: Nov 16, 2023
Arbol has expanded into the United Kingdom with the launch of a new London-based Managing General Agent (MGA), “poised to service the international insurance market outside the U.S.” According to Arbol, the new London-based MGA will le...
Posted: Nov 16, 2023
Life insurer MetLife has announced it has completed a $19 billion risk transfer transaction with Global Atlantic Financial Group, a retirement and life insurance company. The deal sees Global Atlantic reinsuring a diversified portfolio of MetLife’...
Posted: Nov 16, 2023
Global insurer, American International Group, Inc. (AIG) has appointed CVS Health’s Roshan Navagamuwa as Executive Vice President (EVP) and Chief Information Officer (CIO), effective January 1st, 2024. Navagamuwa will report to Peter Zaffino...
Posted: Nov 16, 2023
Global insurer, Aviva plc has reported a 13% increase in gross written premiums (GWP) for its general insurance business in 9M 2023 to £8 billion, driven by strong rate, new business volumes, and retention. Within the UK&I segment, GWP increas...
Posted: Nov 16, 2023
Phoenix Group has raised its full-year cash generation forecast after announcing that it has completed the funds merger of its Standard Life and Phoenix Life businesses into Phoenix Life Ltd, uniting the businesses of four entities. The transfer h...
Posted: Nov 16, 2023
Enact Holdings’ flagship legal entity, Enact Mortgage Insurance Corporation, has secured $248 million of fully collateralized excess of loss reinsurance coverage through the issuance of an insurance-linked note transaction with Triangle Re 2...
Posted: Nov 16, 2023
The Lloyd’s Market Association (LMA) has joined forces with the London and International Insurance Brokers’ Association (LIIBA) in an effort to lead digital transformation in Delegated Authority (DA) business with the introduction of c...
Posted: Nov 16, 2023
International re/insurance broker United Insurance Brokers Limited (UIB) pays tribute to its Co-founder and President, Dr. Mounir Kabban, as they announce the news of his passing on November 13th, 2023. “Mounir was not just a leader within our org...
Posted: Nov 16, 2023
In a strategic move to bolster its position in the face of escalating cyber threats, Howden, the global insurance group, has appointed Jean Bayon de La Tour as the International Head of Cyber, effective immediately. This appointment marks a signif...
Posted: Nov 16, 2023
Cytora, an AI-powered digital risk processing platform, has entered into a strategic partnership with Veridion, a leading provider of AI-powered business data and market intelligence. This collaboration aims to reshape the landscape of commercial...
Posted: Nov 16, 2023
The specialist Lloyd’s of London insurance and reinsurance marketplace has signed a deal with Ping An to remain at its iconic headquarters until 2041, according to a Sky News report. Sky News claims that after more than a year of negotiating...
Posted: Nov 16, 2023
Pen Underwriting, an Arthur J. Gallagher & Co. subsidiary, has launched a new flexible intellectual property (IP) cover to protect against rising risk of infringement. The launch follows Pen’s investment earlier this year to create a dedicated...
Posted: Nov 16, 2023
Global specialty re/insurance group Chaucer has announced the appointment of Simon Schnorr as Head of Marine & Energy. He will be assuming responsibility from Kelan Hunt in a revised organisational structure where Hunt will place greater empha...
Posted: Nov 16, 2023