Reinsurance News
In a significant move towards mitigating the devastating impact of floods in Africa, Floodbase has recently announced a strategic partnership with African Risk Capacity Limited (ARC Ltd.). The collaboration aims to develop, distribute, and scale p...
Posted: Oct 25, 2023
Marsh, a global insurance broker and risk advisor, has announced the establishment of a comprehensive Marsh Specialty global cyber practice. This initiative integrates Marsh’s extensive cyber capabilities, spanning insurance, risk intelligen...
Posted: Oct 25, 2023
Majority of European leaders in the insurance sector expect Generative Artificial Intelligence (GenAI) to significantly affect productivity and change roles; with limited AI knowledge, future regulation, and ethics being leaders’ top concerns, acc...
Posted: Oct 25, 2023
Global insurance brokerage Howden has appointed Alan McNamara as Executive Director, Balance Sheet Advisory & Structuring for Howden CAP, its capital, advisory and placement business. McNamara will join Howden after the completion of contractu...
Posted: Oct 25, 2023
Specialty insurance brokerage, Risk Strategies, has appointed Drew Carnase as Chief Operating Officer (COO), Commercial Lines. Carnase brings nearly three decades of insurance industry experience managing commercial lines operations across the cou...
Posted: Oct 25, 2023
Global broking firm Brokerslink announced the launch of a dedicated Employee Benefits (EB) Practice to address the fight for talent. Led by Gerard Baltazar, Brokerslink EB expert, the practice will aim to provide independent brokers around the wor...
Posted: Oct 25, 2023
Bermuda-based Hamilton Insurance Group Ltd., has announced that both Dr. Henna A. Karna and John J. Gauthier have been appointed to the firm’s Board of Directors, effective October 24, 2023. A highly experienced veteran, Karna boasts more th...
Posted: Oct 24, 2023
Global property and casualty insurer Chubb has promoted Ben McGregor to Head of Property, Asia Pacific (APAC) and Japan for its general insurance business, effective 1 December 2023. McGregor will be based in Singapore and report directly to Paul...
Posted: Oct 24, 2023
Arthur J. Gallagher & Co. has made a significant move in the insurance industry by announcing its definitive agreement to acquire Baton Rouge, Louisiana-based Cadence Insurance, Inc., a wholly-owned subsidiary of Cadence Bank. The transaction,...
Posted: Oct 24, 2023
Specialty insurer for property, casualty and surety markets, RLI Corp., has reported underwriting income for Q3 2023 of $4.2 million and a combined ratio of 98.7%, compared year over year to $8.8 million and a 97% combined ratio. The company’s Q3...
Posted: Oct 24, 2023
DUAL Europe has announced the appointment of Frank Huy as the new Managing Director for DUAL Deutschland, effective April 2024. Huy will be reporting directly to Olaf Jonda, the CEO of DUAL Europe. Huy brings a wealth of experience from his tenure...
Posted: Oct 24, 2023
Reinsurance News recently spoke to Joss Matthewman, Senior Director, Product Management & Strategy, RMS, about what he believes the re/insurance industry needs to do to try and combat the effects of climate change. He highlighted how this topi...
Posted: Oct 24, 2023
Global catastrophe risk modeller, Karen Clark & Company (KCC), has announced the launch of RiskInsight Version 4.13, the latest update to the RiskInsight open loss modeling platform, that gives insurers and reinsurers the ability to track clai...
Posted: Oct 24, 2023
US broker firm Brown & Brown has reported revenues of $1,067.7 million for the third quarter of 2023, representing an increase of $140.1 million, or 15.1%, when compared with the same period last year. Notably, organic revenue increased 9.6% f...
Posted: Oct 24, 2023
In its preliminary results for Q3 of 2023, Kemper has announced an estimated net loss between $140 million and $150 million and an estimated adjusted consolidated net operating loss between $25 million and $35 million. According to the firm, net l...
Posted: Oct 24, 2023
Hong Kong domiciled reinsurer Peak Re recently reported an impressive set of half-year results, and while the outlook for the future is positive, Chief Executive Officer (CEO) Franz-Josef Hahn isn’t celebrating just yet. After efforts to rebalance...
Posted: Oct 24, 2023
Rokstone, Aventum Group’s international (re)insurance MGA, has appointed Mike Nukk as Head of Marine. Nukk is an experienced Marine professional with a storied career that includes a two-decade tenure at Liberty, where he served as SVP Global Mari...
Posted: Oct 24, 2023
Insurance broker Marsh, and a business of Marsh McLennan, has announced the appointments of Beth Thurston as CEO of UK Risk Management, and Hema Mistry as CEO of the UK Financial and Professional (FINPRO) business. Thurston will report to Nick Har...
Posted: Oct 24, 2023
Global re/insurers, MS Amlin, has announced the promotion of Jamie Cleary to Head of Crisis Management, alongside his existing responsibilities as Lead Underwriter for Credit and Political Risk. Effective immediately, Cleary will be based in Londo...
Posted: Oct 24, 2023
Global insurance group, Howden, has established a retail presence across Luxembourg through its acquisition of the portfolio of United Brokers S.A. (United), and has also strengthened its position in Belgium with the acquisition of WDR Insurance G...
Posted: Oct 24, 2023
Analysts from BofA Securities, Inc. are forecasting a promising year for the reinsurance industry in 2023, as shares continue to outperform the broader sector and market. European reinsurers, in particular, saw a remarkable upswing with a year-to-...
Posted: Oct 24, 2023
W. R. Berkley Corporation has reported that Q3 underwriting income and net income grew 34.7% and 45.7% to $258.7 million and $333.6 million, respectively, while net investment income in the quarter stood at $270.9 million, driven by a 59.3% increa...
Posted: Oct 24, 2023
The Talanx Group, the parent company of global reinsurer Hannover Re, expects to report net income of over €1.25 billion for the first nine months of 2023, and has raised its profit expectation for the full year to significantly above €1.5 billion...
Posted: Oct 24, 2023
Protos Labs, a cyber risk management company, has successfully raised SGD $3 million in its most recent seed round, funds that will be used to accelerate its global expansion and the development of cyber risk analytics and modelling tools for re/i...
Posted: Oct 24, 2023
“There is a shared appetite from insurers and reinsurers to grow in specialty lines to dilute volatility in other classes, which should improve market dynamics for trade credit, bond and political risk,” according to David Edwards, Co-...
Posted: Oct 24, 2023