Reinsurance News
Independent insurance broker Lockton, has appointed Andrea Guffanti Head of Continental Europe, a newly created role based in London. In her new position, Guffanti’s responsibilities include working alongside Lockton Global Partners’ Operations Te...
Posted: Oct 19, 2023
Global reinsurance giant Munich Re has partnered with International SOS, a leading health and security firm, to develop an integrated epidemic and pandemic risk management policy solution. Through this new partnership between the two organizations...
Posted: Oct 19, 2023
Xceedance, a prominent global provider of strategic operations support, technology, and data services for insurance organisations, has announced the establishment of a Center of Excellence for Generative AI. This initiative signifies a substantial...
Posted: Oct 19, 2023
Munich Re has noted that the frequency and severity of weather-related natural catastrophes are increasing in Europe, with an “unprecedented” series of events exceeding the €1 billion mark this year. However, Clarisse Kopff, a Member o...
Posted: Oct 19, 2023
The Hanover Insurance Group, Inc. has preliminary estimated catastrophe losses of $195.8 million, before taxes, for the third quarter of 2023, which translates to 13.7 points of net earned premium. Multiple convective storms across the Midwestern...
Posted: Oct 19, 2023
Markel, a global specialty insurer, has announced the appointment of Stephen Rogers as Head of Queensland. According to the firm, Rogers’ appointment furthers the company’s mission to serve the Australian market with a high-quality loc...
Posted: Oct 19, 2023
Nautilus Insurance Group, a Berkley company, has hired Rob Petronko as Senior Vice President and Chief Financial Officer (CFO). Petronko brings more than 19 years of experience within the industry towards his new roles. He has previously held lead...
Posted: Oct 19, 2023
Growing consumerism, the globalisation of supply chains, emergence of new technologies, and the need to innovate are driving an increase in product liability claims globally, a report by Global Insurance Law Connect (GILC) revealed. The ‘Product L...
Posted: Oct 19, 2023
In a groundbreaking initiative aimed at addressing the escalating climate challenges faced by vulnerable communities in Asia, The Rockefeller Foundation has announced a pioneering collaboration with the Nepal Economic Forum (NEF) and their industr...
Posted: Oct 19, 2023
Global insurer Aviva has appointed Leah Ramoutar, currently the Head of Climate and Nature Risk at Phoenix Group, as the Environmental Sustainability Director, effective later this month. Claudine Blamey, the Group’s Sustainability Director,...
Posted: Oct 19, 2023
Global ratings agency AM Best has revised the outlooks to stable from negative, and also affirmed the Financial Strength Rating of C (Weak) and the Long-Term Issuer Credit Rating of “ccc” (Weak) of Milli Reasurans Turk Anonim Sirketi (Milli Re) (T...
Posted: Oct 19, 2023
In a recent discussion during Aon’s Panel on Investments in P&C Re/Insurance Market, industry experts shed light on the absence of capital inflow into insurance and reinsurance company balance sheets during the ongoing hard market. The p...
Posted: Oct 18, 2023
Climate-exacerbated wildfires are estimated to cost the United States between $394 billion to $893 billion each year in economic costs and damages, a number that is considerably higher than existing estimates. Senator Martin Heinrich (D-NM), Chai...
Posted: Oct 18, 2023
Risk Strategies and One80 Intermediaries have announced an internal reorganisation to operate under the newly introduced Accession Risk Management Group parent brand. As per the announcement, Accession Risk Management Group will represent the fami...
Posted: Oct 18, 2023
Risk Strategies and One80 Intermediaries have announced an internal reorganisation to operate under the newly introduced Accession Risk Management Group parent brand. As per the announcement, Accession Risk Management Group will represent the fami...
Posted: Oct 18, 2023
AXIS Capital has announced the retirements of its Chief People Officer Noreen McMullan, and its Wholesale Chief Executive Officer (CEO) Carlton Maner. Moving forward, AXIS has confirmed that McMullan will be succeeded by Lisa Pariot who will becom...
Posted: Oct 18, 2023
Insurance brokerage Brown & Brown, through one of its subsidiaries, has acquired Washington-based Pacific Underwriters. With roots dating back to 1941, Pacific Underwriters acts as a program manager on behalf of certain public utility insuranc...
Posted: Oct 18, 2023
Insurtech MGA Loadsure has been awarded Delegated Claims Administrator (DCA) status by Lloyd’s, which the firm says will allow it to bring claims handling fully in-house, ensuring that clients have direct access to dedicated claims adjusters. Acco...
Posted: Oct 18, 2023
At the first half of 2023 results – and while going through a hard market – pricing outlooks remain positive, which should support underwriting margins for London Market insurers, according to Goldman Sachs. At the same time, continued...
Posted: Oct 18, 2023
Elevating the value of risk management, strengthening its leadership, and making the Federation of European Risk Management Associations (FERMA) more agile and dynamic are among the priorities Charlotte Hedemark highlighted as she begins her presi...
Posted: Oct 18, 2023
Elevating the value of risk management, strengthening its leadership, and making the Federation of European Risk Management Associations (FERMA) more agile and dynamic are among the priorities Charlotte Hedemark highlighted as she begins her presi...
Posted: Oct 18, 2023
Primary insurance group Travelers has reported a net income of $404m in the third quarter of 2023, driven by investment income growth, despite seeing an underwriting loss of $136m, as a result of higher catastrophes losses of $850m for the period....
Posted: Oct 18, 2023
In the first half of 2023, US property/casualty (P/C) insurers faced a challenging environment marked by increased downgrades, primarily affecting the personal lines segment. Downgrades surged from 5.2% of rating actions in H1 2022 to 9.1% through...
Posted: Oct 18, 2023
Annual insured losses from natural catastrophes are on track to surpass $100 billion in 2023, becoming the sixth year since 2017 to exceed this figure, according to Gallagher Re’s Q3 Natural Catastrophe Report. Record-setting weather/climate event...
Posted: Oct 18, 2023
Nirvana, a UK-based specialty MGA, has partnered with KYND Limited, a provider of cyber risk management technology and services, to “empower its underwriting team with advanced and actionable insights into organisational cyber exposure.̶...
Posted: Oct 18, 2023