Reinsurance News
Verisk, a global data analytics and technology provider, has posted an increase in its consolidated and organic constant currency (OCC) revenues, due to strong growth in underwriting and claims within the company’s Insurance segment. Consoli...
Posted: Nov 01, 2023
Insurance brokerage firm, Brown & Brown has entered into an agreement with Davies Group Ltd., that includes the sale of four third-party administrator (TPA) businesses and a long-term strategic commercial relationship. The transaction is expec...
Posted: Nov 01, 2023
Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs), continues rapid growth as it announces $25mn in equity financing and a 49% increase in its new customer base year-over-year. In an expanding cyber insurance mark...
Posted: Nov 01, 2023
In the aftermath of Storm Babet and the looming threat of further weather-related disasters, Dr. Eugenia Cacciatori, Senior Lecturer in Management at Bayes Business School (formerly Cass), is calling for a comprehensive integration of insurance in...
Posted: Nov 01, 2023
Arch Mortgage Insurance Company (Arch MI) has obtained over $233 million of indemnity reinsurance on a pool representing approximately $32.4 billion of mortgages from Bellemeade Re 2023-1 Ltd., a special purpose reinsurer. The coverage was obtaine...
Posted: Nov 01, 2023
Bermuda insurer and reinsurer, Hamilton Insurance Group, could receive net proceeds of up to USD 97.1 million from its initial public offering (IPO) of its Class B common shares, which will be used to make capital contributions to its re/insurance...
Posted: Nov 01, 2023
Pen Underwriting, a multi-class, multi-territory managing general agent (MGA), has appointed Ian Summerfield as Head of Cyber, effective January 1, 2024. Summerfield was promoted from his current role as Commercial Director of Pen’s Hazardous Good...
Posted: Nov 01, 2023
Mission Underwriting Managers, an insurance program administrator, has announced the appointment of Jim Dwane as its new Chief Executive Officer, effective immediately. As the new CEO, Dwane is poised to lead the company into a new period of growt...
Posted: Nov 01, 2023
Mercury General Corporation has posted a 9.4% increase in net premiums earned for the third quarter of 2023, sitting at $1,090,311, compared to $996,939 from the same period last year. Net premiums written also saw an increase from $1,034,476 in Q...
Posted: Nov 01, 2023
Despite its reinsurance attaching higher due to growth in the Catastrophe Reserve Trust Fund (CRTF), the Texas Windstorm Insurance Association (TWIA) expects to need additional reinsurance limit for 2024 as exposure growth persists. TWIA, the Texa...
Posted: Nov 01, 2023
Globally, cyber insurance pricing decreased by 2% in Q3 of 2023, compared to a 1% increase in Q2, marking this as the first quarter to record an average decrease since the second half of 2018, according to insurance broker and risk advisor Marsh,...
Posted: Nov 01, 2023
Hymans Robertson, a pensions and financial services consultancy, has appointed Nadeem Ladha to its Risk Transfer team as a Senior Advisor. Ladha has been appointed on a short-term contract, where he will focus on risk transfer projects involving s...
Posted: Nov 01, 2023
Climate risk advisory, distribution, and analytics firm, Parameter Climate, has announced a management buyout of its seed investor, SiriusPoint, two years after launch. SiriusPoint acquired a significant ownership stake in Parameter Climate back i...
Posted: Nov 01, 2023
Toa Re Europe has licensed CyberCube’s Portfolio Manager platform, in a move that is set to support its cyber book, and play a pivotal role towards achieving best practice risk management solutions. According to the announcement, Toa Re Euro...
Posted: Nov 01, 2023
Risks associated with artificial intelligence (AI), cybersecurity and global warming are among the main concerns for the general population; however, trust in various players, like insurers and scientists, to limit the consequences of new global c...
Posted: Nov 01, 2023
Chicago-domiciled medical stop loss managing general underwriter (MGU), AccuRisk Holdings LLC, has signed a definitive agreement to be acquired by Ryan Specialty, an international specialty insurance firm. AccuRisk, founded in 2017, generated appr...
Posted: Nov 01, 2023
AXA XL Risk Consulting, part of insurer AXA’s property & casualty and specialty risk division, has launched its Water Impact and Sustainability Evaluation (WISE) tool to help risk managers understand, evaluate, and act on water risks. WI...
Posted: Nov 01, 2023
Lloyd’s cyber insurance specialist, Trium Cyber, has appointed Aspen Insurance’s John Jankowski as its Chief Information Officer (CIO). Jankowski has spent much of his career with Aspen, most recently as Head of IT Strategy and IT Chan...
Posted: Nov 01, 2023
Allianz Trade in Asia Pacific has appointed Tricia Koh as Commercial Director for Hong Kong, Taiwan and South Korea (collectively Hong Kong Hub), effective November 1, 2023. Based in Hong Kong, she is replacing Hassan Omaish who has taken up the r...
Posted: Oct 31, 2023
NFP, a property and casualty (P&C) broker, has announced the appointment of Meg McSherry to head the P&C business in its Atlantic region. In her new role, McSherry will collaborate with Atlantic region leaders, industry groups, and risk pr...
Posted: Oct 31, 2023
Kemper Corporation has reported a net loss of $146.3 million for the third quarter of 2023, compared to a net loss of $74.8 million for the third quarter of 2022. Net loss for Q3’23 included a $55.5 million after-tax non-cash charge related...
Posted: Oct 31, 2023
Alliant Insurance Services has announced three new acquisitions in Oklahoma, further expanding its presence in the state and the surrounding areas. First among these, though in no particular order, is Commercial Risk Group (CRG), a retail P&C...
Posted: Oct 31, 2023
Specialist re/insurance broker, McGill and Partners has announced the appointment of Steve Postlewhite as a Partner in its Reinsurance team. In his new London-based role, he will be responsible for developing the portfolio solutions specialty, whi...
Posted: Oct 31, 2023
Athora Holding Ltd., an European savings and retirement services group, has appointed financial services veteran Bruce Hemphill as Chair. Effective January 1, 2024. Hemphill will replace Dr. Nikolaus von Bomhard, who will retire after serving six...
Posted: Oct 31, 2023
As AI technology continues to make headwinds across the re/insurance sector, Trent Cooksley, co-founder and Chief Operating Officer of Cowbell Cyber, explains that the technology brings both opportunities and challenges to the cyber insurance spac...
Posted: Oct 31, 2023