Reinsurance News
Reinsurance premiums assumed worldwide amounted to a value of around USD $500 billion in 2022, according to global rankings recently updated by Insuramore. As a result, this represents an increase of approximately 40% relative to 2019 or a compoun...
Posted: Oct 11, 2023
Australian insurer IAG expects to achieve low double digit gross written premium growth in their fiscal year 2024 (FY24), while the firm’s reported insurance margin guidance currently sits in the range of 13.5 – 15.5%. During a recent...
Posted: Oct 11, 2023
Global technology and digital solutions provider, Xceedance is now offering on-demand catastrophe modelling resources to support reinsurers during peak renewal times. In the lead up to a renewal, reinsurers see a significant increase in their cata...
Posted: Oct 11, 2023
Insurance broker WTW, has announced it is bringing its climate and Risk & Analytics capabilities more closely together under common leadership. Climate risk represents a significant and growing concern for businesses globally and moving forwar...
Posted: Oct 11, 2023
The insurance industry is undergoing a digital revolution, opening doors to innovation while simultaneously introducing new risks, according to the latest sigma study, “The economics of digitalization in insurance,” by Swiss Re Institu...
Posted: Oct 11, 2023
DUAL, the specialist underwriting arm of Howden Group Holdings, has announced that David Harries is joining the company in January 2024 as Group Director of Underwriting. Harries will be working closely with DUAL’s Group Chief Underwriting Officer...
Posted: Oct 11, 2023
Re/insurance marketplace Lloyd’s has launched a systemic risk scenario that models the global economic impact of extreme weather events leading to food and water shocks, estimating the loss to be around $5 trillion over a five year period. A...
Posted: Oct 11, 2023
Chaucer’s Zak Mallen has joined global re/insurance broker Aon, as Managing Director and the Head of Strategic Growth, Casualty Reinsurance, in Bermuda. He joins Aon following a decade of service at Chaucer, where he most recently served as...
Posted: Oct 11, 2023
Analysis by Insurance Capital Markets Research’s (ICMR) highlights the need for a holistic approach to environmental, social, and corporate governance (ESG) within the Lloyd’s insurance and reinsurance marketplace. ICMR notes that while ther...
Posted: Oct 11, 2023
CRC Group, a wholesale distributor of specialty insurance products, has announced the appointment of three new executive leaders. Jessica Marshall has been named Chief Marketing Officer, Mike Baeurle has been appointed Chief Client Officer, and Cu...
Posted: Oct 11, 2023
Global ratings agency AM Best has confirmed that it is maintaining a negative outlook on the Indonesia non-life insurance segment. The agency cities heightened reinsurance credit risk and potential pressure on underwriting margins owing to rising...
Posted: Oct 11, 2023
Irish specialist SME insurance MGA, iSure, has launched a Professional Indemnity (PI) facility with a €2m primary and a €3m excess of loss limit. Josh Smith, who has 14 years of PI underwriting experience has been appointed as the lead underwriter...
Posted: Oct 11, 2023
BDI Global, a cyber policy program manager, in partnership with Havoc Shield, a comprehensive cybersecurity program-as-a-service built for SMBs, have announced the launch of a new cyber product, Shield Up. The program, supported by a Beazley facil...
Posted: Oct 11, 2023
In a remarkable achievement, the United Nations-led FSO Safer operation has successfully concluded the transfer of oil from the FSO Safer, averting a potential environmental and humanitarian catastrophe of unprecedented proportions. “I welco...
Posted: Oct 11, 2023
Insurance Europe, the European re/insurance federation, has expressed “serious concerns’’ in its consultation response, about the European Insurance and Occupational Pensions Authority (EIOPA)’s supervision of reinsurance plans. These concerns are...
Posted: Oct 10, 2023
Global mergers and acquisitions (M&A) activity witnessed a solid increase throughout the third quarter of 2023, according to research on completed deals from broking and solutions company, WTW’s Quarterly Deal Performance Monitor (QDPM). The b...
Posted: Oct 10, 2023
Global specialty insurance firm Ascot, has expanded its environmental offering with the launch of Prime PREMIER, a new fixed-site pollution product designed for clients focused on real estate, manufacturing, distribution, warehousing, industrial a...
Posted: Oct 10, 2023
Fiji has joined the Pacific Catastrophe Risk Insurance Company (PCRIC), a parametric disaster insurance pool for the Pacific, and signed a commitment letter for the country’s first ever parametric insurance product. The signing of the agreement to...
Posted: Oct 10, 2023
Berkshire Hathaway Specialty Insurance (BHSI), a global insurance provider, has announced the appointment of Ana Fuertes as Head of Energy and Construction in Spain. Based in Madrid, Fuentes joins BHSI with two decades of insurance industry experi...
Posted: Oct 10, 2023
Global re/insurance broker Aon has transformed its reinsurance claims processing with the use of The Appian Platform, an AI-powered process platform that helps design, automate, and optimise complex processes. Aon’s Reinsurance Solutions sta...
Posted: Oct 10, 2023
Global re/insurance broker Aon has transformed its reinsurance claims processing with the use of The Appian Platform, an AI-powered process platform that helps design, automate, and optimise complex processes. Aon’s Reinsurance Solutions sta...
Posted: Oct 10, 2023
The European Insurance and Occupational Pensions Authority (EIOPA) has outlined its strategic priorities for the period 2024-2026, highlighting its plans to “focus on managing the uncertainty in times of transformation so that the insurance and pe...
Posted: Oct 10, 2023
Pro Global has announced that it has appointed Robert Sherman as its new US Head of Audit and Advisory. Based in the US, in his new role, Sherman will lead Pro’s US Audit strategy and business development, with a particular focus on insurance audi...
Posted: Oct 10, 2023
In a recent report, credit rating agency KBRA (Kroll Bond Rating Agency) has affirmed Bermuda’s long-term issuer ratings and short-term issuer ratings of the sovereign. The agency’s stable outlook for Bermuda underscores its confidence...
Posted: Oct 10, 2023
Gallagher Re’s report underscores the rising concern among business and insurance sector leaders regarding the potential for a large-scale systemic cyber attack, commonly known as a “cyber catastrophe” risk, due to the complex ch...
Posted: Oct 10, 2023