Reinsurance News
Insurtech bolttech has acquired Digital Care, an embedded protection company based out of Poland. As per bolttech, the acquisition is a major step towards achieving its strategic goals in the EMEA region and globally, while also accelerating growt...
Posted: Oct 20, 2023
Global re/insurance broker Aon, in its Q3 Global Catastrophe Recap report, has stated that global insured losses from natural disaster events had reached $88 billion by the end of Q3 2023, 17% higher than the 21st-century annual average, driven by...
Posted: Oct 20, 2023
Markel, the insurance operation within Markel Group Inc., has announced a 49% strategic investment in tax managing general agent (MGA), Certa. This move will accelerate the company’s UK-based tax specialist’s product development and geographical e...
Posted: Oct 20, 2023
AM Best has affirmed the Financial Strength Rating of A– (Excellent) and the Long-Term Issuer Credit Rating of a– (Excellent) of Hong Kong-based reinsurer Peak Re and its subsidiary in Switzerland, while also maintaining a negative outlook, reflec...
Posted: Oct 20, 2023
During the Swiss Re 2023 Baden-Baden media conference, the question of the hard reinsurance market and its duration was raised ahead of the key January 1st, 2024, reinsurance renewals. “Are we in a hard market? Is the current environment the...
Posted: Oct 20, 2023
Cayman Islands-domiciled Bay Harbor Re has appointed Nick Zielinski as its new Chief Actuary. According to the firm, Zielinski holds a comprehensive background in both commercial and personal lines insurance and reinsurance, with broad experience...
Posted: Oct 20, 2023
Bermuda-domiciled re/insurer, Hamilton Insurance Group, Ltd. has appointed Jon Levenson as the Senior Vice President (SVP) of Finance and Investor Relations. Levenson will report to Group Chief Financial Officer, Craig Howie, and will be based in...
Posted: Oct 20, 2023
Secondary perils, which were once considered supplementary, are now said to be taking a “central role” in insurers’ considerations as we approach year-end 2023 and into 2024, according to the latest edition of the REDY Index by C...
Posted: Oct 20, 2023
Global re/insurance broker Aon has announced the launch of its multi-industry Franchise Solutions program in North America, designed to better inform, advise and protect businesses. The new offering, powered by CoverWallet technology, aims to help...
Posted: Oct 20, 2023
A new Insurance Information Institute (Triple-I) study has suggested that the economic drivers of the U.S. P/C insurance industry could cumulatively expand faster than the nation’s gross domestic product (GDP) in 2024 and may outperform the overal...
Posted: Oct 20, 2023
Ethos, an online life insurance provider in the U.S., has appointed Vijay Ratnam as its India Managing Director. Ratnam’s remit in the role is to lead the company’s organizational culture, strategic resource management, and planning for grow...
Posted: Oct 20, 2023
Woodruff Sawyer, a prominent independent insurance brokerage in the United States, looking ahead to Q4’23 and throughout 2024, suggests that the deal landscape may continue to evolve, with new structures emerging, and deal flow is expected t...
Posted: Oct 20, 2023
During Marsh McLennan’s third-quarter earnings call, President and Chief Executive Officer (CEO), John Doyle, shared valuable insights into the state of the reinsurance market and the expectations for the January 1st renewal. “As we lo...
Posted: Oct 19, 2023
Italian insurer Generali is set to report catastrophe losses of around $888 million (EUR 840 million) for the first nine months of 2023, exceeding its budget for the full year, according to a Reuters report. Reuters reports that during an event he...
Posted: Oct 19, 2023
London-based specialty insurer and reinsurer, Beazley, is set to follow up on its three private transactions with its first full 144a cyber catastrophe bond issuance by the end of the year, according to Artemis sources. Our insurance-linked securi...
Posted: Oct 19, 2023
Fitch Ratings has affirmed the National Insurer Financial Strength (IFS) Ratings of seven Sri Lankan insurers, removed them from Rating Watch Negative (RWN), and assigned them a stable outlook. This rating move includes Sri Lanka Insurance Corpora...
Posted: Oct 19, 2023
In a recently published report by the Capgemini Research Institute, it has been highlighted that the life insurance industry is facing an unprecedented challenge as it grapples with the impending transfer of an estimated $7.8 trillion in assets un...
Posted: Oct 19, 2023
US primary insurer Allstate has announced estimated catastrophe losses for the month of September of $317 million and third quarter cat losses of $1.18 billion. The primary insurer’s September catastrophe losses include 17 events estimated at $357...
Posted: Oct 19, 2023
Acquinex has announced it has deployed mea ingestion, a platform which supports automated submissions intake and review against policies. According to Acquinex, the collaboration is set to “propel the company into a new era of operational ex...
Posted: Oct 19, 2023
Global insurance brokerage, Arthur J. Gallagher & Co., has announced the acquisition of Michigan-based Meadowbrook Insurance Agency. Terms of the transaction were not disclosed. Meadowbrook Insurance Agency is a retail insurance broker offerin...
Posted: Oct 19, 2023
Intact Financial Corporation and its subsidiary RSA have disclosed that all conditions related to its acquisition of Direct Line Insurance Group’s brokered Commercial Lines operations have been fulfilled. According to Intact, the transaction...
Posted: Oct 19, 2023
Guy Carpenter, a global risk and reinsurance specialist and a business of Marsh McLennan, has reported total revenue in Q3 of 2023 of $359 million, marking an increase of 8% on an underlying basis. Marsh McLennan’s wider Risk & Insurance Servi...
Posted: Oct 19, 2023
Verisk, a prominent global data analytics and technology provider, has expanded its suite of sustainability and resilience analytics with the introduction of a new Climate Risk Dataset. This dataset, developed by Verisk Maplecroft, the companyR...
Posted: Oct 19, 2023
With the key January 1st, 2024, reinsurance renewals fast approaching, there remains an imbalance between supply and demand, amid an expectation of limited capital inflow as the market works to deliver sustainably good margins, according to Munich...
Posted: Oct 19, 2023
Large Dutch insurers have achieved solid results in the first half of 2023; they have managed to compensate the effect of high inflation in core insurance lines through price increases and achieved broadly stable underwriting results, Fitch Rating...
Posted: Oct 19, 2023