Reinsurance News
Specialty MGA Optio Group has appointed Steve Thompson as Head of Accident & Health (A&H) with immediate effect. According to Optio, Thompson holds more than two decades of experience underwriting global A&H business in both the Lloyd’...
Posted: Nov 13, 2023
Canopius Group, a global specialty lines re/insurer, has expanded its cannabis insurance product, now covering transportation of cannabis products from cultivation to distribution. The re/insurer started to underwrite cannabis-exposed risks in Apr...
Posted: Nov 13, 2023
Kin, the direct-to-consumer home insurance company, has posted $77.8 million in gross written premium and $24.2 million in total revenue for the third quarter of 2023. This compares to last year’s GWP of $47,7 million and $14.8 million total...
Posted: Nov 13, 2023
Swiss Re has partnered with Guidewire, a software company that offers an industry platform for property & casualty (P&C) insurers, to help reduce operational friction between risks, insureds, insurers, reinsurers, and intermediaries. The p...
Posted: Nov 13, 2023
Placing Platform Limited has successfully deployed its latest Next Gen release, which focuses on functional enhancements to improve the user experience. According to the announcement, this new release contains 25 changes across the following funct...
Posted: Nov 13, 2023
WTW, a globally renowned advisory, broking, and solutions company, has appointed Brad Messinger as the new leader of the Financial Institutions and Professional Services (FI&PS) industry division. The effective date for Messinger’s assum...
Posted: Nov 13, 2023
Despite ransomware frequency picking up following a slowdown in 2022, analysts at JP Morgan still see the cyber insurance market as an “attractive area with strong profitability and good exposure growth potential in the coming years.”...
Posted: Nov 13, 2023
Moody’s has downgraded the Nationwide Mutual Insurance Company (NMIC) and its property & casualty affiliates, Nationwide P&C, insurance financial strength rating to A2 from A1, and downgraded NMIC’s surplus notes rating to Baa1 (hyb) from...
Posted: Nov 13, 2023
The Talanx Group, the parent company of global reinsurer Hannover Re, has disclosed that its Group net income increased 38% in the first nine months of 2023 to €1.3 billion, while the firm’s overall combined ratio also improved to 93.5%. Talanx’s...
Posted: Nov 13, 2023
Arch U.S. MI Holdings (Arch MI), a subsidiary of Arch Capital Group Ltd., has finalised a definitive agreement to acquire RMIC Companies, Inc. (RMIC), along with its subsidiaries, constituting the run-off mortgage insurance business of Old Republi...
Posted: Nov 13, 2023
Legal & General Assurance Society Limited has completed a c.£500 million buy-in with the DB (UK) Pension Scheme (the Scheme). Legal & General noted that this buy-in secures the benefits of around 2,000 retirees and deferred members. The Sc...
Posted: Nov 13, 2023
Australian insurer QBE has expanded its marine offer in Europe, with products now available in Germany as well as France and the Nordics. While growth in the marine insurance market in Asia appears to be slowing, it has seen a strong performance i...
Posted: Nov 13, 2023
In a recent survey conducted by global advisory and solutions company WTW at its inaugural European Insurance Leaders’ Forum in Brussels, industry leaders identified key trends that are expected to shape the insurance landscape in 2024. Resp...
Posted: Nov 13, 2023
In a further indicator of the growing use of satellite technology to assess exposures to extreme weather events, ICEYE, a provider of natural catastrophe solutions and insights, has expanded its constellation with four new synthetic aperture radar...
Posted: Nov 13, 2023
Brazilian reinsurance company IRB (Re), which was formerly named IRB Brasil Re, has reported an underwriting profit of R$11 million for the third quarter of 2023, compared with an underwriting loss of R$539 million in the third quarter of 2022. Th...
Posted: Nov 13, 2023
Australian insurance giant IAG has joined the Federal Government’s Cyclone Reinsurance Pool, administered by the Australian Reinsurance Pool Corporation (ARPC). According to IAG, the Pool aims to “reduce insurance premiums for eligible polic...
Posted: Nov 13, 2023
Moody’s RMS has released a report estimating that insured losses from Windstorm Ciarán, will likely fall between €0.9 billion and €1.5 billion. Windstorm Ciarán (also named Emir by the Free University of Berlin), struck Western Europe on November...
Posted: Nov 13, 2023
P&C insurance holding company Kingstone Companies has released its financial results for the third quarter of 2023, reporting a net loss of $3.5 million on a net combined ratio of 110.2%. The net loss in the current quarter compares to the $4....
Posted: Nov 13, 2023
HSB (UK and Ireland) has announced the strengthening of its UK Business Development team with the appointments of Sarah Purnell, Michael Farrugia and Lydia White. Sarah Purnell, who previously worked for the British Engineering Services, Zurich an...
Posted: Nov 13, 2023
Coalition has announced that it has appointed Gareth Machin as its first Manchester-based underwriter in the UK. Machi’s appointment comes as part of the company’s ongoing drive to provide regional support for brokers in addition to it...
Posted: Nov 13, 2023
The European automotive and mobility industry faces a critical turning point, prompting Insurance Europe and several EU-level associations to call for regulatory action in ensuring equitable access to vehicle data, functions, and resources. In a l...
Posted: Nov 13, 2023
San Diego-domiciled, specialty insurance broker, C3 Risk & Insurance Services, has appointed Marife Molina as its new Executive Vice President (EVP) of Strategic Revenue, where she will oversee the development and execution of revenue-generati...
Posted: Nov 13, 2023
Insurance broker Marsh has announced the appointment of Janice Kowell as Marine, Cargo and Logistics Practice Leader, US and Canada, effective immediately. Based in Portland, Oregon, she will be responsible for delivering transactional and advisor...
Posted: Nov 10, 2023
The 2023 net combined ratio for the property/casualty industry is forecasted to be 103.8%, driven in part by severe convective storm losses being the highest in decades, according to a report by Triple-I and Milliman. While the sector’s comb...
Posted: Nov 10, 2023
Inari, a core technology infrastructure provider for the re/insurance industry, has appointed Jonathan Pflieger as its new SVP of Insurance Products. According to Inari, Pflieger holds over two decades of experience in both insurance underwriting...
Posted: Nov 10, 2023