Reinsurance News
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
A strong underwriting performance in both P&C and L&H reinsurance contributed to significantly improved net income for the first nine months of 2023 for Swiss Re, as the return on equity (ROE) rose to 25.9% for the period. Group-wide, net...
Posted: Nov 03, 2023
Aioi Nissay Dowa Europe (AND-E), a provider of mobility insurance, has appointed Phil Norris to the newly created role of Chief Product Innovation Officer. Norris, who has been with AND-E for nearly 20 years, will report to Michael Kainzbauer, Gro...
Posted: Nov 03, 2023
Independent insurance broker Lockton, has appointed Johan Frithioff to its senior team in Sweden as it continues efforts to enhance its attractive offerings to clients in the Nordic region. Frithioff, a seasoned leader with over two decades of exp...
Posted: Nov 03, 2023
US property and casualty insurer, United Fire Group (UFG), has announced its financial results for the third quarter of 2023, reporting a consolidated net income of $6.4 million and an improved combined ratio of 102.1%. UFG Q3 2023 net income saw...
Posted: Nov 03, 2023
Managing General Agents’ Association (MGAA) has elected Lizzie Smith-Foreman to join its board as Director of Group Marketing, Communications and Sustainability for Markerstudy Group. The MGAA is a UK-based not for profit organisation dedicated to...
Posted: Nov 03, 2023
EY has named Martina Neary as its UK Insurance Leader, joining the UK Financial Services leadership team to lead across General Insurance, Life and Pensions and Specialty Insurance. Neary commented: “The insurance sector is at a pivotal moment. Fi...
Posted: Nov 03, 2023
During AIG’s Q3 2023 earnings call, Chairman & Chief Executive Officer, Peter Zaffino, explained how building long-term strategic relationships with the company’s reinsurance partners has “been key” for repositioning th...
Posted: Nov 02, 2023
Insurance and reinsurance broking group, Aon, has disclosed its plan to consolidate its client service operations in the UK and EMEA regions, appointing Julie Page as the CEO for the merged region, with this transition set to take effect on Novemb...
Posted: Nov 02, 2023
Gallagher Re, a prominent global reinsurance broker, and ICMR, a specialist in quantitative analysis, have officially announced the establishment of an exclusive partnership. This partnership combines Gallagher Re’s extensive knowledge in re...
Posted: Nov 02, 2023
Enstar Group Limited has announced that one of its wholly-owned subsidiaries has closed the previously announced transaction with American International Group (AIG), to provide protection to AIG on its retained exposure to adverse development on V...
Posted: Nov 02, 2023
Markel has suggested that the property market pricing environment should be “firm and constructive” going into 2024, with the company noting it has the ability to deploy more capital there should it choose to do so. These comments stem...
Posted: Nov 02, 2023
Lemonade, a digital insurance firm powered by AI and social impact, has reported an 18% year-on-year rise in in-force premium to $719 million for the third quarter of 2023, while its gross loss ratio fell 11% to 83% in the quarter. As well as top...
Posted: Nov 02, 2023
Aspen Insurance Holdings Limited, a Bermuda-based re/insurer, has appointed Tim Mardon as Global Head of Property Catastrophe Reinsurance. His new role is effective November 14, 2023. It has also been confirmed, that Mardon will also become Chief...
Posted: Nov 02, 2023
Whitespace, a fully digital e-trading platform and Verisk company, has announced Vega IT as an integration partner. Whitespace explained that the partnership is a pivotal component of its strategy to expand the delivery of its integration capabili...
Posted: Nov 02, 2023
The California FAIR Plan Association (FAIR Plan) has partnered with the California Department of Insurance (CDI) to offer increased commercial coverage limits of up to $20 million per location. This change, effective as of November 1, represents a...
Posted: Nov 02, 2023
Selective Insurance has posted a 17% rise in net premiums written (NPW) for the third quarter of 2023, sitting at $1,058 billion, representing a $155 million increase from last year’s $903.4 million. For the nine months ended September 30, N...
Posted: Nov 02, 2023
Steadfast Group, a leading Australian insurance brokerage network, announced a 22.4% increase in unaudited underlying Earnings Before Interest, Taxes, and Amortization (EBITA) for the first quarter of FY24 compared to the same period last year. Th...
Posted: Nov 02, 2023
While Congress continues to examine increasing challenges within the property insurance marketplace, the National Association of Mutual Insurance Companies (NAMIC), has warned lawmakers to look beyond obvious weather events and focus on the root p...
Posted: Nov 02, 2023
Lincoln Financial Group, a subsidiary of Lincoln National Corporation and its affiliates, has received regulatory approval for its previously announced reinsurance transaction with global multi-line reinsurer, Fortitude Reinsurance Company Ltd. Th...
Posted: Nov 02, 2023
Arch Capital’s CEO, Marc Grandisson, discussed the company’s outlook during the Q3 2023 earnings call, predicting that the ongoing hard market in the insurance industry will continue to support profitable growth into 2024. “As we...
Posted: Nov 02, 2023
Specialty insurer Palomar Holdings has published its third quarter 2023 results reporting a net income of $18.4 million, a 24.0% increase in gross written premiums and an improved combined ratio of 75.8%. Q3 2023 net income compares to the $4.3 mi...
Posted: Nov 02, 2023
The International Cooperative and Mutual Insurance Federation (ICMIF) has unveiled its 2023 Members Sustainable Investment Report, indicating a remarkable 32% increase in sustainable investments, with members collectively managing $1 trillion in a...
Posted: Nov 02, 2023
CNA Hardy, a specialist commercial insurance provider within the Lloyd’s and company markets, announced the appointment of Ariel Berman to the position of Vice President, Head of Specialty (UK & Continental Europe). Based in London, Berman wil...
Posted: Nov 02, 2023
Holding company Tiptree has reported revenues of $416.5 million for Q3’23, an increase of 14.6% from Q3’22, driven by growth in Fortegra’s specialty insurance lines. Tiptree intends to take its specialty insurance subsidiary, Fortegra,...
Posted: Nov 02, 2023