Reinsurance News
Aquiline Capital Partners LLC, a private investment firm based in New York and London, has launched MDpanel, a new platform dedicated to the efficient delivery of medical opinions within the insurance claims process. At the same time, the company...
Posted: Oct 23, 2023
Demand for political risk insurance is predicted to grow in 2024 driven by an increase in the number of elections worldwide, an event that usually heightens the value of economies, and together increase political risk for businesses operating in c...
Posted: Oct 23, 2023
Dublin-based Arch Insurance (EU) dac, a subsidiary of Arch Insurance International has hired Jose Carlos Jiménez Fernández and Rafael Ortiz Losada as Senior Cyber Underwriters, effective immediately. Both the appointments are based out of Madrid....
Posted: Oct 23, 2023
CCRIF SPC has disclosed that it made two payouts totalling $3.4 million to the governments of Antigua and Barbuda and the British Virgin Islands following Tropical Storm Philippe, which triggered the parametric insurance policies of these countrie...
Posted: Oct 23, 2023
The reinsurance arm of Vienna Insurance Group, VIG Re, has appointed Frank Reichelt to its Supervisory Board. Reichelt is a reinsurance sector veteran who brings expertise that spans over 40 years. He currently holds several external mandates such...
Posted: Oct 23, 2023
Cyber risk solution provider Resilience has noted that cybercriminals have begun shifting their tactics to bypass security controls by hitting critical vendors and seeking larger extortion targets. In its Midyear 2023 Claims Report, the firm says...
Posted: Oct 23, 2023
Hannover Re’s German subsidiary, E+S Rückversicherung AG, has predicted further price increases and improved conditions in the 1 January 2024 renewals in property and casualty reinsurance, according to its comments at the 2023 reinsurance gatherin...
Posted: Oct 23, 2023
American Equity Investment Life Holding Company has reported that its Q3 2023 sales totalled $2.2 billion, of which 99% of which were in fixed index annuities (FIA). The company reported that its FIA sales saw an increase of 18% from the second qu...
Posted: Oct 23, 2023
Global insurance provider INSHUR continues its US-wide expansion with the appointment of industry expert Lisa Hric as Director of US Markets. With a career spanning over two decades in the auto insurance industry spanning both legacy and insurtech...
Posted: Oct 23, 2023
DXC Technology says 46% of global executives view technical debt, or “tech debt,” as a major obstacle to innovation and growth. Technical debt refers to the hidden costs incurred when choosing a quick yet suboptimal solution over a mor...
Posted: Oct 23, 2023
Non-life specialty insurer R&Q Insurance Holdings has just confirmed that it has entered into a conditional agreement to sell its Accredited program Management business to private equity investment manager Onex Corporation. The sale was expect...
Posted: Oct 20, 2023
Analysts at RBC Capital Markets expect the hard reinsurance market environment to persist into 2024 as the industry’s resolve to deliver adequate returns remains. According to RBC, there will be further rebalancing of the insurance value cha...
Posted: Oct 20, 2023
Employee mistakes and poor security are leaving businesses open to cyber-attacks; addressing these issues will allow companies to access full levels of cyber insurance, according to a recent QBE report. QBE’s survey revealed that almost a third of...
Posted: Oct 20, 2023
Allianz Commercial has announced the appointment of Claudia Valencia as Global Head of Portfolio Solutions, joining the firm on January 8, 2024. In her new role, Valencia will be based in London, where she will report jointly to Chief Underwriting...
Posted: Oct 20, 2023
Global ratings agency AM Best has maintained its stable outlook on Japan’s life insurance market segment. The agency cites in part the prospects for higher premium income based on rising interest rates, as one of the key reasons behind the stable...
Posted: Oct 20, 2023
Hampden Risk Partners (HRP), a Lloyd’s syndicate primarily supported by Hampden Agencies, has successfully implemented Optalitix Quote, the underwriting workbench to transform underwriting. The workbench, created by insurtech Opalitix, a spe...
Posted: Oct 20, 2023
Brokerslink has announced that Toyota Tsusho Insurance Management Corporation (TIM) has joined its broking network as an affiliate. Brokerslink said that the addition of TIM is seen as a “major milestone”, adding a household name and w...
Posted: Oct 20, 2023
As AI technology continues to be a key talking point across the re/insurance industry, major firms, Swiss Re and Munich Re have explained that the adaption of the technology within the sector remains within its early days and piloting stages. This...
Posted: Oct 20, 2023
White Mountains Insurance Group, Ltd. has entered into an agreement to acquire a majority stake in Bamboo Ide8 Insurance Services, LLC, a provider of homeowners’ insurance for over 100,000 California policyholders. White Mountains is expecte...
Posted: Oct 20, 2023
The results of the latest Applied Rating Index by Applied Systems shows that average premiums for both Personal Auto and Personal Property lines increased in Canada year over year in the third quarter of 2023. Quarter over quarter, premium rate ch...
Posted: Oct 20, 2023
The issuance of mortgage insurance-linked securities (ILS) transactions appears to be gaining traction after a muted 18 months, as major US mortgage insurers turn to the capital markets for reinsurance protection. Data from Artemis, our ILS-focuse...
Posted: Oct 20, 2023
In a recent Marsh McLennan third-quarter earnings call, Dean Klisura, President and CEO of reinsurance broker Guy Carpenter, shared insights into the upcoming January 1 renewal period and the prevailing market conditions in the reinsurance industr...
Posted: Oct 20, 2023
It is essential for insurers to help banks understand the evolving insurance landscape of Southeast Asia for the continued success of bancassurance, a recent survey by the Swiss Re Institute has revealed. Among its highlights, the survey found tha...
Posted: Oct 20, 2023
AXA XL Risk Consulting has announced the launch of AXA Immersive Solutions, a training solution using Virtual Reality (VR) and Digital Twin technologies. Through this solution, AXA XL’s risk consultants will be able to access a 3D model of a stand...
Posted: Oct 20, 2023
The Hartford, a property & casualty insurer, has appointed Stephen Deane as Chief Claims Officer (CCO), effective November 6, 2023. In the role, Deane will report directly to John Kinney – Head of Claims and Operations, and will also bec...
Posted: Oct 20, 2023