Reinsurance News
Verisk has announced that Citizens Property Insurance Corporation, a not-for-profit insurer in Florida, will adopt its Aerial Imagery Analytics solution to help “provide a more comprehensive view of risks across the state.” According t...
Posted: Nov 07, 2023
Global insurance broker WTW has launched a new Asia Pacific Climate Risk Centre (ACRC) in Singapore, which will provide climate risk quantification and management capabilities to support the region’s resilience and transition to net-zero. The laun...
Posted: Nov 07, 2023
Lockton Re, the reinsurance arm of the independent insurance broker, has announced that its analytics platform, SAGE, has been awarded a US Patent. This patent is for systems and methods for custom and real-time visualization, comparison, and anal...
Posted: Nov 07, 2023
Applied Underwriters has unveiled a newly consolidated enterprise named United Risk, which brings together the entirety of the firm’s MGA and MGU businesses into a single cohesive brand, headed by industry leader Dan Malloy. Malloy, who has...
Posted: Nov 07, 2023
Pan-Asian life insurance business, FWD Group sees “another quarter of robust double digit new business growth”, Group Chief Executive Officer, Huynh Thanh Phong stated as the company publishes its business highlights for the nine months ended 30 S...
Posted: Nov 07, 2023
A vast majority of underwriters are worried about insurers’ ability to deliver next-generation underwriting, mainly due to underperforming technology, hyperexponential research has revealed. Analysts stated: “This disillusionment comes as the majo...
Posted: Nov 07, 2023
RenaissanceRe Holdings Ltd. (RenRe), a distinguished member of the Association of Bermuda Insurers and Reinsurers (ABIR), has successfully concluded its acquisition of Validus Re and its subsidiaries from American International Group (AIG), securi...
Posted: Nov 07, 2023
With the expansion of its operations across Asia, Charles Taylor has welcomed 11 new hires to boost its loss adjusting services team across vital locations in the region. According to the announcement, this move is in response to the growing need...
Posted: Nov 07, 2023
Commercial property insurer FM Global has named Ziad Alex S. Tadmoury as their new Executive Vice President. Tadmoury will be responsible for overseeing operations in the regions of EMEA, Asia Pacific, Canada, as well as FM Global’s specialt...
Posted: Nov 07, 2023
Skyward Specialty Insurance Group, Inc. has posted a net income of $21.7 million for the third quarter of 2023, compared to a net loss of $2.4 million for the same period last year. Net income for the first nine months of 2023 sits at $56.7 millio...
Posted: Nov 07, 2023
Adrian Cox, CEO of Beazley speaking this morning in London at an AM Best event, explained how Beazley sees climate litigation risk as a rising issue that the company “need to consider” in its underwriting. He stated that climate liabil...
Posted: Nov 07, 2023
Insurance startup Mulberri, has launched its new AI-powered Risk Assistant and rolled out its embedded property and casualty platform to make insurance innovation accessible to a broad range of industries outside payroll and Human Resources (HR) p...
Posted: Nov 07, 2023
In the latest Marsh Global insurance market index report for Europe, property insurance pricing saw a 7% increase, slightly down from the prior quarter’s 8%. The rise was attributed to the impact of catastrophic events and secondary perils l...
Posted: Nov 07, 2023
Renewable Energy Loss Adjusters (RELA), has launched a new claims adjustment proposition dedicated to the marine market. According to RELA, the new proposition will provide independent average adjusting services by a qualified average adjuster, wh...
Posted: Nov 07, 2023
Insurance and reinsurance broking group, Aon, has announced the appointment of 12 new UK-based partners in the Wealth and Talent Solution Lines of its Human Capital capability. A client manager with over three decades of pension experience, Sue Au...
Posted: Nov 07, 2023
Argenta Syndicate Management Limited (ASML), a subsidiary of Argenta Holdings Limited, has announced the appointment of Edward Davidson to the newly created role of Energy Transition Technology Underwriter. Based in London, Davidson will report to...
Posted: Nov 07, 2023
Howden, the global insurance group, has appointed Enrico Bertagna as Managing Director, leading the MGA division of its reinsurance arm in Europe. According to the firm, this appointment bolsters its MGA/Programme broking business, which currently...
Posted: Nov 07, 2023
Qatar Insurance Company (QIC) has reported Net Profits of QAR 453 million for the first nine months of 2023, rising a massive 445% from the same period in 2022. Despite noting an array of challenges in the current market environment, QIC also disc...
Posted: Nov 07, 2023
Specialist (re)insurance broker Miller has appointed Andreas Bisbas as Chairman of Marine Mutual Reinsurance and Head of Mutual War within the Marine team. Bisbas is set to join Miller in late November and will report to Phil Wheeler, Head of Mari...
Posted: Nov 07, 2023
In a significant move to aid Ukraine’s recovery and reconstruction efforts following Russia’s invasion, the United Kingdom and the European Bank for Reconstruction and Development (EBRD) have signed a Statement of Intent to establish a...
Posted: Nov 07, 2023
UK non-life insurance premium income is forecasted to grow 8.5% in 2023, up from 3.9% in 2022, before slowing slightly to 5.1% in 2024 and 4.1% in 2025, according to a recent analysis from EY Item Club. This growth is expected to be driven by size...
Posted: Nov 07, 2023
Guy Carpenter, a global risk and reinsurance specialist and a business of Marsh McLennan, has appointed Michael Shemi as the North America Structured Credit Leader, effective immediately. Shemi will be based in New York, reporting to Jeffrey Krohn...
Posted: Nov 07, 2023
Global ratings agency, AM Best, has downgraded the Long-term Issuer Credit Rating to “a” (Excellent) from “a+” (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Employers Mutual Casualty Company (EMCC) (Des Moines, I...
Posted: Nov 07, 2023
Specialist insurer Beazley has reported insurance written premium growth of 9% to $4.3 billion for the first nine months of 2023, as the firm took advantage of opportunities in the property market. Net insurance written premiums rose 26% year-on-y...
Posted: Nov 07, 2023
Leeds-based Managing General Agent (MGA), Fiducia, has underscored its dedication to serving UK brokers by offering comprehensive marine equipment insurance solutions. The MGA’s Marine Equipment underwriting facility is tailored to meet the...
Posted: Nov 07, 2023