Reinsurance News
Bermuda insurer and reinsurer, Hamilton Insurance Group, has successfully priced its initial public offering (IPO) of 15,000,000 Class B common shares at a public offering price of $15.00 per share, raising a total of USD 225 million. Net proceeds...
Posted: Nov 10, 2023
After reaching an agreement to sell its third-party casualty reinsurance business to Fleming earlier this week, the Board of James River Group Holdings, Ltd. has decided to “explore a range of potential strategic alternatives”, includi...
Posted: Nov 10, 2023
FG Financial Group, a reinsurance and asset management holding company, has reported a net income of $5.2 million for the third quarter of 2023, compared to $9.8 million from the third quarter of 2022. The company also posted net reinsurance premi...
Posted: Nov 10, 2023
In a recent interview with Reinsurance News, Daisy Ning, Head of Life and Health, APAC (excluding China) at Swiss Re, shared her insights on the growing health insurance protection gap in the region. Ning began by emphasising Swiss Re’s pion...
Posted: Nov 10, 2023
The Bank of England (Bank) has initiated the scenario phase of the System-wide Exploratory Scenario (SWES), a comprehensive assessment aimed at understanding the dynamics of banks and non-bank financial institutions in stressed market conditions....
Posted: Nov 10, 2023
Bermuda-based Maiden Holdings has reported a net loss of $3.5 million for the third quarter of 2023, compared with net loss of $8.2 million in Q3’22. It posted lower underwriting loss of $10.9 million in the third quarter of 2023, compared t...
Posted: Nov 10, 2023
Hong Kong-based global reinsurer, Peak Re, in collaboration with Intuit Research, has released the key findings of its flagship 2023 Asia Middle-Class Consumer Survey. This year’s study zeroes in on consumers’ attitudes and needs concerning health...
Posted: Nov 10, 2023
Aspen Insurance, a provider of specialty re/insurance products, has announced the appointment of Edward Hart to the role of International Head of Cyber. Hart brings to his new role 10 years of cyber underwriting experience. Based in London, he wil...
Posted: Nov 10, 2023
In its latest Power Market Review, WTW has brought to the forefront the persistent “Trilemma of Tension” facing the global power sector. This “Trilemma” is characterised by the ongoing struggle to balance energy security, a...
Posted: Nov 10, 2023
Independent insurance broker Lockton has announced the appointment of Andrea Lieberman as U.S. Financial Services Claims Leader. In her new role, Lieberman will lead the Financial Services claims team and drive the practice’s strategic visio...
Posted: Nov 10, 2023
Conifer Holdings has reported its gross written premiums for the third quarter of 2023 increased 16.5% to $38.5 million, compared to $33.1 million in the prior year period. The company said that this top line growth derived primarily from continue...
Posted: Nov 10, 2023
Assured Guaranty Ltd. has announced that, as of January 1, 2024, Chief Financial Officer Robert A. Bailenson will become Chief Operating Officer, while Chief Actuary Benjamin G. Rosenblum will succeed him as Chief Financial Officer. In his new ro...
Posted: Nov 10, 2023
Aon has expanded its Climate Risk Advisory function across the firm’s Risk Capital capability, to “further serve clients’ advanced risk analytics needs in both Commercial Risk Solutions and Reinsurance Solutions.” The expanded service...
Posted: Nov 10, 2023
Allianz has reported that its operating profit dropped 14.6% to €3.5 billion in Q3, driven by the Property-Casualty business segment affected by a 7.3 percentage point impact by natural catastrophes on the combined ratio, the highest in a decade....
Posted: Nov 10, 2023
French reinsurer SCOR has reported Group net income of €147 million for the third quarter of 2023 and an improved P&C combined ratio of 90.2%, despite natural catastrophe losses coming in above budget and large man-made claims. In its results,...
Posted: Nov 10, 2023
Tint, the embedded protection platform, has announced its partnership with RVI Group, a subsidiary of Group 1001, designed to revolutionise embedded protection programs. Unveiled at InsurTech Connect in Las Vegas, this collaboration is said to sig...
Posted: Nov 10, 2023
The rise in global M&A insurance claims is being driven by exceptional levels of dealmaking activity in 2021 and 2022, according to a recent report by Liberty Global Transaction Solutions (GTS), part of Liberty Mutual Insurance. The report is...
Posted: Nov 10, 2023
Great-West Lifeco Inc. reported a solid increase in its base earnings in the third quarter of 2023, as they rose from $809 million to $950 million. The firm attributed the sharp increase primarily to business growth, as well as higher average equi...
Posted: Nov 10, 2023
Strategic Risk Solutions (SRS), an independent provider of re/insurance and captive management services, has announced the launch of Altitude, a Managing General Underwriter (MGU) aimed to expand its Alternative Risk Transfer (ART) offering. Headq...
Posted: Nov 10, 2023
OneBefore, a progressive underwriter-led MGA has announced its official launch. The company is founded by market specialist Vered Lobel, who brings her extensive experience as a pricing actuary to lead the firm. She previously served as the Head o...
Posted: Nov 10, 2023
There’s been a decline in the positive contribution from reserve releases on combined ratios for reinsurers, and as inflation remains relatively elevated in US markets, further reserve strengthening is expected, according to Greg Carter, Man...
Posted: Nov 09, 2023
AXIS Capital, a global specialty underwriter and provider of insurance and reinsurance solutions, has appointed John Owen as Chief Executive of AXIS Managing Agency Limited (AMA), subject to regulatory approval. According to AXIS, in his new role,...
Posted: Nov 09, 2023
Ex Goldman Sachs executives have partnered up with industry veterans to launch Birch Risk Advisors, a New York-based firm that provides specialized insurance solutions for unique transactional risks. Backed by global insurer AmTrust Financial, the...
Posted: Nov 09, 2023
Brookfield Reinsurance has announced its financial results for the third quarter of 2023 reporting a net income of $77 million, which compares to the $139 million reported in the same period last year. According to Brookfield, this figure was the...
Posted: Nov 09, 2023
One of the unusual things about the current hard re/insurance market is that there’s now been positive rate change for seven years running, and with market discipline expected to persist as carriers target better returns, Lancashire Holdings...
Posted: Nov 09, 2023