Reinsurance News
P&C broker, benefits consultant, wealth manager and retirement plan advisor, NFP, has appointed Tyler James as North American construction property broking leader. James holds over a decade of commercial and construction underwriting experienc...
Posted: Nov 08, 2023
Bermuda domiciled insurance holding company, James River Group Holdings Ltd., has posted a net income of $16.9 million for third quarter of 2023, compared to net loss of $7.2 million for the third quarter of 2022. Adjusted net operating income for...
Posted: Nov 08, 2023
Chubb’s Combined Insurance has appointed Michelle Bryer as Senior Vice President, Chief Operations Officer, effective immediately. She has been serving as Senior Vice President, Claim Operations and will report to Richard L. Williams, Jr., Preside...
Posted: Nov 08, 2023
AND-E, a mobility insurance provider, has announced the appointment of motor insurance finance specialist, Jon Hermon, as Group Chief Finance Officer. Reporting to Michael Kainzbauer, AND-E Group CEO, Hermon will lead the finance teams across Euro...
Posted: Nov 08, 2023
Florida-based insurtech HCI Group has reported a net income of $15.7 million in the third quarter of 2023, compared to a net loss net loss of $51.5 million in the second quarter of 2022. Adjusted net income was $16.5 million for the quarter, compa...
Posted: Nov 08, 2023
RenaissanceRe (RenRe) predicts incremental demand to come into the market throughout the course of 2024, and expects it to be in the single digit billions, according to CEO Kevin O’Donnell, who in a recent earnings call also highlighted that...
Posted: Nov 08, 2023
DOXA Insurance Holdings, an underwriting and distribution company based in North America, has entered into a definitive agreement to be acquired by Goldman Sachs Asset Management. According to the announcement, the transaction is expected to close...
Posted: Nov 08, 2023
BRP Group, an independent insurance distribution firm, has released its results for the third quarter of 2023, which included its revenue growing by 18% to $306.3 million, as well as witnessing strong organic growth of 19%. The company also witnes...
Posted: Nov 08, 2023
James River Group Holdings, Ltd. has announced it is to sell JRG Reinsurance Company (JRG Re), its third-party casualty reinsurance business, to Fleming Intermediate Holdings, for an estimated $277 million. The transaction value is inclusive of a...
Posted: Nov 08, 2023
Financial services holding company Ambac reported a net income of $66 million for its third quarter of 2023, a lower figure compared to the $340 million reported for the same period last year. The firm’s Q3 2023 results include the performan...
Posted: Nov 08, 2023
Industry insured losses due to wind from Winter Storm Ciarán are expected to range between €800 million and €1.3 billion, the majority of which are expected in France, according to Verisk. Windstorm Ciarán (also named Emir by the Free University o...
Posted: Nov 08, 2023
With rates in many lines of business now at more appealing levels, Munich Re CFO Christoph Jurecka notes a “very attractive environment” and says the firm is confident heading into the 1.1 reinsurance renewals. “January renewal,...
Posted: Nov 08, 2023
Enstar has reported a significant improvement in its Q3 2023 results, seeing net earnings of $38 million, up from a net loss of $432 million in the same period last year. This figure brings net earnings attributable to Enstar ordinary shareholders...
Posted: Nov 08, 2023
CHL, the parent company of Conduit Re, a pure-play Bermuda-based reinsurance business, reported a 50.3% increase in gross premiums written for the nine months ended 30 September 2023 of $764.4 million. The overall portfolio risk-adjusted rate chan...
Posted: Nov 08, 2023
Arch Insurance International has launched a new intangible assets team, who join the firm from Aon following an agreement to acquire certain assets of its Intellectual Property (IP) Liability MGA business. The team will be led by Ian Lewis who has...
Posted: Nov 08, 2023
The $100 billion insured loss threshold from natural catastrophes in 2023 has now been breached, marking the sixth year since 2017 that this has occurred, according to Gallagher Re’s Chief Science Officer, Steve Bowen. Bowen noted that Gallagher R...
Posted: Nov 08, 2023
PartnerRe has announced that Emmanuel Dubreuil and François Bucchini have been appointed to its Board of Directors, effective November 7, 2023. Dubreuil is currently Head of Insurance and Reinsurance Initiatives at Covéa. He first joined Covéa in...
Posted: Nov 08, 2023
Greenlight Re’s CEO Simon Burton is set to depart on December 31, 2023, with Greg Richardson taking the helm as the new CEO and Board member starting January 1, 2024. Burton will continue to serve as an advisor and provide transitional servi...
Posted: Nov 08, 2023
Specialist insurer and reinsurer Hiscox has announced net insurance contract written premium (ICWP) within Hiscox Re & ILS grew 23.6% to $438.3 million in the third quarter of 2023, as the business seized the opportunities in the hard market....
Posted: Nov 08, 2023
European reinsurer Munich Re has lifted its annual guidance for its net result to €4.5 billion after reporting a solid set of third quarter and nine month 2023 results, as the firm closed a third consecutive quarter with a net result above pro-rat...
Posted: Nov 08, 2023
Direct Line Group doubled its motor gross written premiums (GWP) in the third quarter of 2023, increasing by 115.4% to £826.8 million. The company attributed this substantial rise towards an improved approach to pricing. DLG’s home division...
Posted: Nov 08, 2023
A recent analysis from LCP has highlighted that the number of UK private sector defined benefit (DB) schemes fully funded on buy-out has expanded to 20%, equating to 1,000 schemes, and c£275 billion of assets out of the £1,400 billion total in UK...
Posted: Nov 08, 2023
SureChoice Underwriters Reciprocal Exchange, in partnership with SageSure, has announced its expansion to the South Carolina commercial property market with its business owners policy (BOP) offering. SureChoice Underwriters Reciprocal Exchange is...
Posted: Nov 07, 2023
The Bank of Japan (BOJ) has taken a significant step towards normalising its monetary policy by rephrasing the 1% upper bound on 10-year Japanese government bond yields as a “reference” rather than a rigid cap, according to a Swiss Re...
Posted: Nov 07, 2023
IVANS, a division of Applied Systems, has reported renewal rate change for all major commercial lines of business except Workers’ Compensation are up year over year in October 2023. The third quarter of 2023 experienced an increase in average prem...
Posted: Nov 07, 2023