Reinsurance News
Pool Re, the UK Government’s terrorism reinsurance scheme, has reported it successfully renewed its reinsurance broking contract with Guy Carpenter for three years, with an option to run to five. According to the announcement, Guy Carpenter will s...
Posted: Oct 17, 2023
Howden has announced the creation of Howden Climate Parametrics, a global practice that “brings together (re)insurance, climate, and data expertise to focus parametric risk transfer solutions on meeting the escalating demand for climate de-r...
Posted: Oct 17, 2023
Ki, the first fully digital and algorithmically-driven Lloyd’s of London syndicate, has announced a partnership with Travelers and Aspen which will offer additional follow capacity through its digital platform from January 1, 2024. As a resu...
Posted: Oct 17, 2023
Brookfield Reinsurance is considering entering Britain’s pension insurance industry and is “open to an acquisition to bolster growth,” according to a new report from Reuters. Citing people familiar with the matter, Reuters said t...
Posted: Oct 17, 2023
AM Best has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) to newly formed Beazley Excess and Surplus Insurance, Inc. (BESI), a wholly owned subsidiary of Beazley...
Posted: Oct 17, 2023
Bermuda-based Hamilton Insurance Group, Ltd. has filed a registration statement on Form S-1 with the US Securities and Exchange Commission (SEC) for a proposed underwritten initial public offering (IPO) of its common shares, and intends to use the...
Posted: Oct 17, 2023
In a world marked by economic uncertainty and geopolitical tensions, trade credit insurance (TCI) is emerging as a crucial stabiliser of economic resilience, according to a report by the Swiss Re Institute. The study forecasts that TCI is set to g...
Posted: Oct 17, 2023
Global ratings agency, AM Best has announced that its outlook for the US life/annuity and health segments remains at stable. According to the agency, the US L/A insurers have heavily benefited from high levels of risk adjusted capitalization, as w...
Posted: Oct 17, 2023
Wikifri, a consulting firm that focuses on innovation in insurance, has launched its cloud-based turnkey insurance data platform, Insurance Daylight (IDDS), offering an efficient way to stabilise data. Data has become a critical asset for insurers...
Posted: Oct 17, 2023
Global insurance broker Howden has acquired Wide Care Services, a specialist Italian Employee Benefits service provider that has a proprietary platform for health and welfare management. The aim of the acquisition is to leverage Wide Care’s techno...
Posted: Oct 17, 2023
RBC Capital Markets highlights the surge in high frequency, small and mid-sized catastrophe events during the first three quarters of 2023, largely driven by a growing trend of severe convective storms (SCS) in the United States. Overall, catastro...
Posted: Oct 16, 2023
Insurtech firm Accelerant is set to expand its presence into the Canadian market through the acquisition of Omega Insurance Holdings, Inc., from Till Capital Ltd. Omega Insurance Holdings offers secure, innovative and customized solutions for re/i...
Posted: Oct 16, 2023
Alice Caccamese has joined Aon Reinsurance Solutions from rival broker Guy Carpenter as Managing Director EMEA Facultative. Caccamese is highly experienced in the industry, having operated in a number of senior roles at a host of well-known re/ins...
Posted: Oct 16, 2023
China Reinsurance (Group) Corporation has completed the establishment of its previously announced subsidiary, China Reinsurance Digital Technology Co., Ltd. (CRDT), which will provide IT services to member companies and launches with registered ca...
Posted: Oct 16, 2023
Reinsurance broker Augment Risk has announced the launch of its Global Parametric Specialty division, led by newly appointed Kurt Cripps. The new unit will be focused on “client-tailored parametric reinsurance products designed to provide a...
Posted: Oct 16, 2023
Independent specialist re/insurance broker, BMS Group, has appointed Andras Bohm as the head of its US Capital Advisory business and the CEO of BMS Capital Advisory, Inc. – BMS Groups’ U.S. broker-dealer – subject to regulatory approva...
Posted: Oct 16, 2023
Global insurer Allianz has entered into definitive agreements over the sale of its 49% stake in CPIC Fund Management Co., Ltd. to Guotai Junan Securities Co., Ltd. The transaction is subject to the approval of the China Securities Regulatory Commi...
Posted: Oct 16, 2023
National Western Life Group, Inc., the parent organization of National Western Life Insurance Company, and Prosperity Life Group have announced the signing of a definitive Merger Agreement whereby S. USA Life Insurance Company, Inc. (SUSA), an aff...
Posted: Oct 16, 2023
Global insurance group Howden has unveiled an innovative venture known as Howden Ventures, pending approval from Lloyd’s, aimed at accelerating insurance product development. Described by the broker as a world-first insurance innovation hub,...
Posted: Oct 16, 2023
Artificial Labs, a UK insurtech providing algorithmic underwriting technology to the commercial and specialty insurance market, has appointed Jen Tan as Head of Portfolio. Tan joins Artificial with 14 years’ experience in Lloyd’s and London Market...
Posted: Oct 16, 2023
Independent insurance broker Lockton has announced the appointment of Gordon D’Arcy as Business Development Executive within its Transactional Risks division, effective immediately. In this newly created role, based in Dublin, he will be responsib...
Posted: Oct 16, 2023
The Annual Meetings of the IMF and World Bank in Morocco conveyed a sobering message of global economic resilience overshadowed by fragility and an array of potential non-linear risks, painting a disconcerting picture where downside risks outweigh...
Posted: Oct 16, 2023
A recent study conducted by Hiscox has unveiled a concerning trend of increasing cyber attacks on businesses, marking the fourth consecutive year of growth in such incidents. The report, titled the “Hiscox Cyber Readiness Report,” draw...
Posted: Oct 16, 2023
Global advisory, broking, and solutions company WTW has announced the appointment of Rob Powell as its new Global Chief Claims Officer. Powell is set to assume his role at WTW in early 2024, and he will report directly to Adam Garrard, the Global...
Posted: Oct 16, 2023
Aspen Insurance Holdings has appointed Graeme Owens as Head of the U.K. Business & Community Property team. Owens joins Aspen from Swiss Re Corporate Solutions, where he was Director, Global Standard Property Products. Collectively, Owens hold...
Posted: Oct 16, 2023