Reinsurance News
Global reinsurance giant Munich Re has agreed to provide warranty reinsurance for battery manufacturer, Hithium, energy storage systems (ESS). The reinsurer will cover both product and performance warranties. The agreement will thus reduce ESS pro...
Posted: Oct 26, 2023
Appian, a software company that automates business processes, has announced the launch of the Connected Underwriting Life Workbench. The new workbench enables holistic underwriting automation and workload management to improve operational efficien...
Posted: Oct 26, 2023
Berkshire Hathaway Specialty Insurance (BHSI) has appointed Sami Jaghbir as Underwriting Manager of Queensland, effective immediately. In his new role, Jaghbir will be based out of Brisbane. Mark Lingafelter, President of Australasia, BHSI, commen...
Posted: Oct 26, 2023
In its Q3 results, Goosehead Insurance reported that total revenues were $71 million, an increase of 23% compared to the corresponding period in 2022, while net income hit $11.3 million versus $3 million a year ago. According to Goosehead, the imp...
Posted: Oct 26, 2023
Non-life specialty insurer R&Q Insurance Holdings has signed a Loss Portfolio Transfer (LPT) reinsurance agreement with a UK motor insurer covering net reserves of around $80 million. According to R&Q, the transaction is subject to regulat...
Posted: Oct 26, 2023
Global insurer and reinsurer Everest Group has reported a combined ratio of 91.4% for the third quarter of 2023 and pre-tax underwriting income of $301 million on the back of improved pricing and a reduction in catastrophe losses. The Q3 2023 comb...
Posted: Oct 26, 2023
DGTAL, a Software-as-a-Service (SaaS) platform providing artificial intelligence (AI) powered audit and tools for insurance portfolios, has launched a new Intelligent Document Processing tool, GRABBER. The new tool excels at understanding, extract...
Posted: Oct 26, 2023
Lockton’s reinsurance business, Lockton Re, has appointed Mark Wilkinson as the International Head of Analytics, based in London. Wilkinson has over 25 years of insurance and reinsurance expertise. He most recently served as the Head of UK Actuari...
Posted: Oct 26, 2023
Data from a recent cyber resiliency report from The Hanover highlights that 74% of small and mid-sized business decision-makers (defined as C-level executives at businesses with 3-249 employees) are confident in their ability to prevent cyberattac...
Posted: Oct 26, 2023
Pro Global has appointed Lutty Choudhury and Tanya Cross as Senior Claims Technicians within its specialist Claims team. According to Pro, in their new roles, Choudhury and Cross will be responsible for managing high-value and technically complex...
Posted: Oct 26, 2023
Evan Greenberg, Chief Executive Officer (CEO) of global insurer Chubb, has emphasised that the carrier is not shying away from the reinsurance business, but that it makes more sense for the company to grow its insurance property catastrophe-relate...
Posted: Oct 25, 2023
Boost Insurance has unveiled Boost Re, a risk transfer platform, further enhancing its comprehensive insurance-as-a-service stack. This development promises substantial advantages for both Boost’s clientele and reinsurance partners. For Mana...
Posted: Oct 25, 2023
Speaking with Reinsurance News amid the Baden-Baden 2023 conference, Swiss Re’s Thorsten Steinmann suggested the main focus of discussions with clients ahead of the Jan renewals will be around the evolving risk landscape, which he said has d...
Posted: Oct 25, 2023
According to global ratings agency AM Best, the US property & casualty (P&C) segment reported its 17th consecutive year of favorable reserve development based on 2022 calendar year results, however, the $3.6 billion in favorable reserve d...
Posted: Oct 25, 2023
QBE Canada has selected Novidea’s born-in-the-cloud insurance management platform to expand and grow its business across multiple product lines. QBE Canada, part of the QBE Group is based in Toronto and Vancouver. Canada is a significantly importa...
Posted: Oct 25, 2023
HDI Global SE has received regulatory approval to open a new office in Lisbon, Portugal, with Nuno Antunes, current Iberia Head of Client Strategy and Portugal Country Manager, set to lead the new branch as Managing Director. As per HDI Global, th...
Posted: Oct 25, 2023
As demand for catastrophe reinsurance continues to outpace supply, further market hardening is expected, and against a backdrop of an uncertain inflationary environment, it will take time before the industry knows what the new normal is, according...
Posted: Oct 25, 2023
Sompo International, a global provider of commercial and consumer property and casualty re/insurance, has made two appointments for its UK Commercial P&C Insurance business unit. Jon Pope has been named Head of Middle Market Insurance, London...
Posted: Oct 25, 2023
RLI Insurance recorded losses of $66 million from the Maui wildfires in the third quarter of 2023, but while this was a severe event and unusual for the company, it’s not expected to have a major impact on the firm’s January 1st, 2024,...
Posted: Oct 25, 2023
Cayman islands-based reinsurer Topsail Re has announced the appointment of Justin Jordan as Director of Corporate Finance. Jordan joins the reinsurer following over two years at Heritage Life Insurance Company, where he most recently served as Ass...
Posted: Oct 25, 2023
Since its official launch in 2018, cyber re/insurance underwriting firm, Envelop Risk, has matured and grown alongside an increasingly sophisticated cyber re/insurance market. As such, it is now able to better understand the needs of its clients,...
Posted: Oct 25, 2023
Arch Insurance has appointed Sergio Pierro as Senior Cyber Underwriter and Roxanne Deslandes as Cyber Underwriter, effective immediately. According to the firm, Pierro and Deslandes will join Arch Insurance (EU) dac, which provides specialist prop...
Posted: Oct 25, 2023
Dale Underwriting Partners, the trading name for Dale Managing Agency Limited’s Lloyd’s Syndicate 1729, announced the appointment of Preben Prebensen as independent non-executive Chair of the Group Board. According to the announcement, this appoin...
Posted: Oct 25, 2023
Ransomware attacks in 2023 are up more than a substantial 95% compared to 2022, according to Corvus Insurance’s Q3 23 Global Ransomware Report. Attacks continue to come in at a record setting pace, with Q3 23 global ransomware attack frequen...
Posted: Oct 25, 2023
Property and casualty insurer Chubb has reported net income and core operating income for Q3 2023 of $2.04 billion each, up 157.8% and 55.4%, respectively, as its P&C arm delivered a combined ratio of 88.4% with underwriting income of $1.31 bi...
Posted: Oct 25, 2023