Reinsurance News
Liberty Mutual Holding Company and its subsidiaries (LMHC) have reported their results for the three and nine months ended September 30, 2023, posting a net income attributable to LMHC of $219 million and loss of $441 million for Q3’23 &...
Posted: Nov 09, 2023
Ardonagh Specialty has appointed Jonathan Marsh as Deputy CEO of Bermuda and Global Head of Retro at Inver Re. According to the firm, Marsh will be running Ardonagh Specialty’s Bermudian business operations alongside CEO Chris Bonard, while simult...
Posted: Nov 09, 2023
Arch Insurance Australia has established a new cyber insurance practice, naming Rachel Green as National Cyber Underwriting Manager for Australia and the Pacific region, effective immediately. According to Arch, the cyber practice will offer exces...
Posted: Nov 09, 2023
Human capital issues have become a key business risk fueled by the competition for talent and workforce shortages among other issues, a recent Aon report has revealed. Failure to attract and retain talent reached the highest ever ranking position...
Posted: Nov 09, 2023
Wholesale insurance brokerage and managing general agency, Novatae Risk Group, has appointed Von Breaux as the firm’s new Chief Operating Officer (COO), where he will be responsible for operational activities related to the company’s w...
Posted: Nov 09, 2023
Argo Group International Holdings, Ltd. has announced a deterioration in its combined ratio to 115.8% for Q3 2023 compared with 101.1% in Q3 2022, driven by a higher loss ratio. The firm reported an underwriting loss of $54.3 million, compared wit...
Posted: Nov 09, 2023
Bermuda-based re/insurer Lancashire Holdings Limited (LHL), has announced the appointment of Philip Broadley as a Non-Executive Director of LHL, effective November 8, 2023. Broadley has also been appointed as the LHL Chair designate, a position La...
Posted: Nov 09, 2023
Munich Re’s ERGO-FESCO Broker Company Limited and BMW (China) Insurance Brokers Co. have received regulatory approval to set up in Beijing. Li Yunze, head of the National Administration of Financial Regulation, said at the opening ceremony o...
Posted: Nov 09, 2023
German reinsurance giant Hannover Re will continue to manage growth within US wind very carefully in order to improve diversification, and despite a rise in frequency outside of the US, is happy with the experience year-to-date, according to Sven...
Posted: Nov 09, 2023
Recent political violence events worldwide have led to significant shifts in the political violence insurance marketplace, impacting rates, limits, and terms and conditions, according to a Marsh report. The Russia-Ukraine war, tensions between Isr...
Posted: Nov 09, 2023
Fusion Specialty Americas has appointed Natasha Richard as senior partner, M&A, Renay Gosen as senior associate, M&A, and Michelle Yohe as senior associate, underwriting & legal operations support, all effective immediately. Fusion not...
Posted: Nov 09, 2023
Greenlight Re has reported a net income of $13.5mn for the third quarter of 2023, compared to the $18.5mn net loss seen in the same quarter last year; gross premiums written (GPW) increased to $183.1mn, and combined ratio improved to 91.2% from 11...
Posted: Nov 09, 2023
In a recent report, Morgan Stanley has highlighted the impressive third-quarter results for reinsurers, signaling a promising outlook for the industry in 2024. Despite a recent pullback, the underlying fundamentals remain robust, and leading playe...
Posted: Nov 09, 2023
Specialty insurer and reinsurer, SiriusPoint Ltd. has posted a combined ratio of 88% for the third quarter of 2023, compared to last year’s 107.7%, while also reporting a net income of $58 million for the same period. In Q3, the company̵...
Posted: Nov 09, 2023
Root, an end-to-end digital insurance platform, has announced its first strategic partnership in the UK with Connect, a subsidiary of the leading insurer Admiral Group, to develop an embedded insurance platform. Connect is an API-first embedded in...
Posted: Nov 09, 2023
In its nine month results, Lancashire Holdings Limited has reported that gross premiums written increased by 23.2% year-on-year to $1.6 billion, while IFRS 17 insurance revenue increased by 22.1% to $1.1 billion. Of the total gross premiums writte...
Posted: Nov 09, 2023
In its first nine month results, Zurich Insurance Group has reported that property & casualty insurance revenue grew 9% year-on-year to $31.4 billion, driven by strong growth in commercial and retail insurance. Of this total revenue, Zurich di...
Posted: Nov 09, 2023
Global reinsurer Hannover Re has reported a 25% lift in net income to €1.4 billion for the first nine months of the year, as the reinsurance service result improved 47% to €1.6 billion and the combined ratio strengthened year-on-year. Across the G...
Posted: Nov 09, 2023
Global credit rating agency AM Best has upgraded Oceanview Holdings’ Financial Strength Rating to “A”(Excellent) and its Long-Term ICR to “a” (Excellent) from “a-“, and revised the outlook of these ratings from stable to positive...
Posted: Nov 09, 2023
The Shanghai Insurance Exchange’s international reinsurance trading platform, which was launched last month, recently signed its first inward business agreement at the sixth China International Import Expo. AXA Hong Kong Property & Casualty In...
Posted: Nov 09, 2023
Crawford & Company has elected Fred R. Donner as an Independent Director, further strengthening the company’s commitment to leveraging deep and eminent expertise. Rohit Verma, Chief Executive Officer of Crawford & Company, commented: ̶...
Posted: Nov 09, 2023
There has been a considerable rise in the number of captives domiciled in Europe, as existing domiciles remain popular and other jurisdictions are put in place to attract fresher companies. However, while European jurisdictions do not report capti...
Posted: Nov 09, 2023
Insure Our Future has said that after 50 years of failure, the insurance industry must act to support the climate target, highlighting the fact insurers withdrew cover for climate risks while backing greater fossil fuel production. The organisatio...
Posted: Nov 09, 2023
After launching Juniper Re, its reinsurance broking platform in mid-October, BRP Group believes the payback from the investment will be fairly short, with a view to having the business EPS accretive and cash flow positive in 2025, according to Chi...
Posted: Nov 08, 2023
In a recent address at the Europe Insurance Market Briefing in London, Greg Carter, Managing Director of Analytics at rating agency AM Best, shared insights into the state of the reinsurance market. His remarks shed light on the industry’s d...
Posted: Nov 08, 2023