Reinsurance News
Kettle, the insurance MGA startup, has appointed Sarah Meyerhoff-Kennedy, Vice President of Insurance Products, and Milena Mikin, Vice President of Commercial Insurance. Kettle uses artificial intelligence to protect people from the growing risks...
Posted: Nov 06, 2023
Valani Global, an actuarial modeling and financial reporting firm, is acquiring MSA Research, a Canadian analytical research firm specializing in the insurance industry. Nazir Valani, Founder of Valani Global, commented: “The synergy between...
Posted: Nov 06, 2023
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has reported a strong underwriting performance in its property and casualty (P&C) reinsurance business for the third quarter and first nine months of 2023, as premium...
Posted: Nov 04, 2023
“There’s a lot of discussions to be had between now and Jan 1, and then during the course of 2024, to figure out what reasonable price levels and attachment points might be for the industry,” says John Dacey, Group Chief Financia...
Posted: Nov 03, 2023
With the insurability gap within the small and medium-sized enterprise (SME) market continuing to grow as cyber attacks and the digitisation of work processes increase, one key issue that surrounds this, is that the cyber insurance products offere...
Posted: Nov 03, 2023
RLI Corp, a specialty insurer serving niche property, casualty and surety market, has announced the appointment of Phil Brodeuras as Vice President, Risk Services, replacing Chris Randall, who will be retiring in February 2024. In his new role, Br...
Posted: Nov 03, 2023
RLI Corp, a specialty insurer serving niche property, casualty and surety market, has announced the appointment of Phil Brodeur as Vice President, Risk Services, replacing Chris Randall, who will be retiring in February 2024. In his new role, Brod...
Posted: Nov 03, 2023
Marsh McLennan appointed Susan Potter as the US and Canada Commercial Officer, effective immediately. Potter will take on this crucial role with the mission of driving client-centric initiatives that enhance Marsh McLennan’s ability to meet...
Posted: Nov 03, 2023
Global insurance group, Howden, has announced its acquisition of Contacto Corredores de Seguros S.A (Contacto), a leading insurance broker in the Peruvian market. This strategic move is part of Howden’s plan to extend its footprint in Latin...
Posted: Nov 03, 2023
New managing general agent (MGA), Futuristic Underwriters, has announced the public launch of its services with a mission to reduce commercial property & casualty risk by leveraging the power of technology. As the commercial insurance landscap...
Posted: Nov 03, 2023
Hybrid insurer Hadron marked its official launch today with a significant capital injection of over $250 million from Altamont and various institutional investors. This infusion of capital sets the stage for Hadron’s ambitious plans to revol...
Posted: Nov 03, 2023
Home insurer Hippo has announced total generated premium (TGP) growth of 38% YoY to $303.7 million in the third-quarter of 2023, compared to $219.9 million a year ago. At the same time, net earned premium for the quarter was $32.9 million, a shift...
Posted: Nov 03, 2023
Western Europe was struck by the powerful Windstorm Ciarán on November 1-2, leaving a trail of devastation and economic uncertainty in its wake, with initial expectations suggesting that this storm, particularly impactful in France, may result in...
Posted: Nov 03, 2023
Global catastrophe modeling software company, KatRisk, has received a significant strategic investment from global private equity firm, TA Associates, to accelerate innovation and growth. KatRisk is a provider of simulation software designed to qu...
Posted: Nov 03, 2023
The Travelers Companies, Inc. has agreed to acquire cyber insurance managing general underwriter Corvus Insurance Holdings, Inc. for approximately $435 million. Travelers has disclosed that it will fund the transaction from internal resources, add...
Posted: Nov 03, 2023
WTW, a leading global advisory, broking, and solutions company, has announced the appointment of Simon Delchar as Head of GB CRB Broking and Global Head of Portfolio Placements. Delchar, who brings extensive international placement experience, is...
Posted: Nov 03, 2023
Reserve strengthening in the P&C Re casualty segment in Q3 was based on “more pessimistic assumptions of the ultimate loss cost”, as Swiss Re took the opportunity to strengthen the overall level of reserves, suggests John Dacey, Gr...
Posted: Nov 03, 2023
International specialty insurance firm, Ryan Specialty Holdings, Inc., has reported Q3 2023 revenue growth of 21.8% year over year to $501.9 million, compared to $412 million in the prior-year period, although net income fell more than 46%. Net in...
Posted: Nov 03, 2023
Howden Scotland, formerly known as Bruce Stevenson, has acquired Neilson Laurence & Neil, a UK business insurance specialists based in Glasgow, expanding its footprint in the country. This acquisition represents the first major transaction for...
Posted: Nov 03, 2023
Fairfax Financial Holdings has reported that it achieved net earnings of $1.07 billion in Q3 of 2023, up from $499.4 million in Q3 of 2022. The firm’s Q3 adjusted operating income stood at $967.2 million, which Fairfax said reflects its stro...
Posted: Nov 03, 2023
Global provider of life and health reinsurance, Reinsurance Group of America (RGA), has reported Q3 2023 consolidated net premium growth of 31% year over year, as the firm returned to profit in the period. Net premiums increased from $3.3 billion...
Posted: Nov 03, 2023
American Financial Group, Inc. (AFG) has reported a net income of $177 million for the third-quarter of 2023, compared to $165 million in Q3’22. In Q3, AFG’s net earnings included net after-tax non-core items that reduced net income by $31 m...
Posted: Nov 03, 2023
Heritage Insurance Holdings has disclosed a Q3 net loss of $7.4 million, somewhat improved from a net loss of $48.2 million in the same quarter last year, primarily driven by an increase in net premiums earned, higher net investment income, and lo...
Posted: Nov 03, 2023
French insurer AXA has reported 7% growth in gross written premiums (GWP) & other revenues to €41.8 billion for 9M 2023 within its property and casualty (P&C) business, as growth in commercial and personal lines more than offset a year-on-...
Posted: Nov 03, 2023
GCube Insurance, a prominent underwriter for renewable energy projects, is entering into a strategic partnership with Renew Risk, a leading Software-as-a-Service (SaaS) risk analytics provider. This collaboration is set to bolster GCube’s ca...
Posted: Nov 03, 2023