Reinsurance News
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
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