Reinsurance News
CFC, a specialist insurance provider, has launched a new management liability solution designed specifically for Canadian small to mid sized businesses. According to the firm, its new solution includes a variety of new coverages, many of which are...
Posted: Nov 15, 2023
Life insurer and asset manager Aegon, is planning to nominate Albert Benchimol to be appointed as a non-executive member of the Board of Directors, a proposal to be made to its 2024 Annual General Meeting. Once elected, Benchimol’s appointment wou...
Posted: Nov 15, 2023
Global ratings agency AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “bbb” (Good) and affirmed the Financial Strength Rating of B++ (Good) of ZEP-RE (PTA Reinsurance Company) (ZEP-RE) (Kenya). Best co...
Posted: Nov 15, 2023
Speaking on a panel at the PwC Insurance Summit in Bermuda in November, Kevin O’Donnell, President, and CEO of RenaissanceRe (RenRe), underlined that the industry is heading into a “strong” and “constructive” reinsurance ra...
Posted: Nov 14, 2023
Global specialty re/insurer, SiriusPoint Ltd., has appointed Alex Hardy as Director of Sales & Distribution for its International business. SiriusPoint confirmed that Hardy will join the firm on December 4, 2023. He will be based in London, an...
Posted: Nov 14, 2023
Global credit ratings agency, AM Best, has assigned a stable outlook on the New Zealand non-life insurance segment, citing its expectations of solid premium growth in the market, which is heavily owed to strong, ongoing rate improvement, particula...
Posted: Nov 14, 2023
Howden Tiger, the reinsurance broking arm of the global insurance group Howden, in collaboration with Swiss Re Group, a leading global reinsurer, has successfully completed a strategic Loss Portfolio Transfer (LPT) for Kookmin Best Insurance Compa...
Posted: Nov 14, 2023
Specialty re/insurer, Canopius Group, has announced the appointment of Mark Newman as Chief Executive Officer (CEO) for the UK, with interim UK CEO Kate Roy to step down from the position on December 31st, 2023, and retain her role as Group Chief...
Posted: Nov 14, 2023
Zurich, through its wholly-owned subsidiary, Farmers Group (FGI), has agreed to acquire three brokerages and the flood program servicing arm of the Farmers Exchanges, for $760 million. According to the announcement, “ownership of the brokerages wi...
Posted: Nov 14, 2023
Independent managing general agent, Pro MGA Global Solutions, has appointed Hans Martin Døhlen as Managing Director of the company’s European platform, Pro MGA Solutions Europe GmbH, and Director of Underwriting. In his new role, Hans will be resp...
Posted: Nov 14, 2023
Global specialty re/insurer SiriusPoint, has had its ratings outlook revised from ‘Negative’ to ‘Stable’ by S&P Global Ratings (S&P). According to the announcement, this move reflects the credit rating agency’s” expectation that SiriusPoin...
Posted: Nov 14, 2023
American Coastal Insurance, formerly known as United Insurance Holdings, released its financial results for Q3 2023, reporting a combined ratio of 68.7% for Q3’23 as compared to a ratio of 139.3% for Q3’22. American Coastal Insurance,...
Posted: Nov 14, 2023
In a recent survey conducted by the World Economic Forum, economic and societal threats have taken center stage as the primary concerns for business leaders in G20 countries over the next two years. The Executive Opinion Survey gathered insights f...
Posted: Nov 14, 2023
Kita, a carbon insurance specialist and Lloyd’s of London coverholder, has announced the appointment of James Brown, former Head of Natural Resources at Chaucer, as its new Technical Underwriting Advisor. In his new role, Brown will act as lead co...
Posted: Nov 14, 2023
P&C insurer Skyward Specialty has announced a follow-on offering of 2.15 million shares of its common stock as it looks to target further growth opportunities. Based on Skyward’s share price as of November 14, 2023, the insurer would rai...
Posted: Nov 14, 2023
In a recent study, global specialty (re)insurance group Chaucer has identified significant shifts in North American wildfire risk patterns, particularly in regions previously deemed ‘low-risk.’ The report reveals that areas such as the...
Posted: Nov 14, 2023
“For the first time in a very long time, reinsurers are having to deal with geopolitical risks and that adds a whole layer of extra complexity that we haven’t seen before, and needs to be factored into the strategic decision-making of compan...
Posted: Nov 14, 2023
W. R. Berkley Corporation has appointed Christopher H. Balch as president of Berkley Technology Underwriters, succeeding Matthew A. Mueller, who has been named chairman of the business. Balch joins Berkley Technology Underwriters with almost two d...
Posted: Nov 14, 2023
Data-driven risk exchange Accelerant has appointed Gabriella Engstrand as Head of Distribution – Europe. The firm describes Engstrand as a business development executive with 17 years of experience in insurance. She most recently served as t...
Posted: Nov 14, 2023
Moody’s RMS has estimated that private market insured losses from Hurricane Otis will be between $2.5 billion and $4.5 billion. According to the firm, this estimate represents insured losses associated primarily with wind damage in the Category 5...
Posted: Nov 14, 2023
CNO Financial has announced the establishment of CNO Bermuda Re, a Bermuda-based captive reinsurer, and is now working to complete an initial transaction that will cede $6.2 billion in fixed indexed annuities to it. “We have received all necessary...
Posted: Nov 14, 2023
GIC Re has stated that gross premium income in the half year ended September 30, 2023, was INR 19,679.85 crore, compared to INR 19,122.45 crore at September-end 2022. Underwriting loss in the period was INR 3,029.04 crore against a loss of INR 1,6...
Posted: Nov 14, 2023
At the ICMIF Sustainability Summit in London in early November, ICMIF launched its Insurance SDG Benchmark, which is derived from the insurance SDG (i-SDG) scores of ICMIF members. Swiss Re Institute developed the underlying framework, which was t...
Posted: Nov 14, 2023
RLI Corp, a specialty insurer serving niche property, casualty and surety market, has announced the appointment of Clark C. Kellogg to its Board of Directors. Kellogg’s term will be effective January 1, 2024 and will expire in May 2024 at RLI’s ne...
Posted: Nov 14, 2023
Fortegra, the specialty insurance subsidiary of holding company Tiptree, has publicly filed a Registration Statement on Form S-1with the Securities and Exchange Commission (SEC) for an initial public offering (IPO). Earlier this month, alongside t...
Posted: Nov 14, 2023