Reinsurance News
Broker WTW has announced the appointment of Frank Scardino as North America Strategic Sales Leader and Leader of the Dallas Market. Simultaneously the company has appointed Kenneth Gould as Strategic Client Engagement Leader within Corporate Risk...
Posted: Oct 06, 2023
Arch Capital Group Ltd. (Arch) has announced the appointment of Seamus Fearon as the new CEO of International Mortgage for the Global Mortgage Group. In his expanded role, Fearon will oversee Arch’s Australian and European mortgage operation...
Posted: Oct 05, 2023
In a recent comprehensive survey conducted by Moody’s Investors Service, involving over 1,700 global respondents, key insights into cybersecurity practices among global debt issuers have come to light. The findings not only shed light on the evolv...
Posted: Oct 05, 2023
Jensten, a UK broking and underwriting businesses, has announced the appointment of Matthew Gibson as Group M&A Director. His appointment strengthens Jensten’s senior team, the firm stated, and comes as the business prepares to announce...
Posted: Oct 05, 2023
Reserv, a leader in AI-driven insurance claims processing, has announced the close of its $20M Series A round of financing to expand its generative AI claims data analysis tools. This latest funding round was co-led by Altai Ventures and Bain Capi...
Posted: Oct 05, 2023
In the latest edition of Plane Talking, re/insurance broker Gallagher noted that as the aviation reinsurance and retrocession markets approach the final quarter of 2023, they continue to grapple with a range of complex challenges and evolving mark...
Posted: Oct 05, 2023
The U.S. pension risk transfer market is on a record-breaking trajectory, with an overwhelming 89% of companies planning to divest all their defined benefit (DB) pension plan liabilities, according to MetLife’s 2023 Pension Risk Transfer Pol...
Posted: Oct 05, 2023
Bermuda-based global specialty insurance firm Ascot Group has named Mark Wilcox as its new Group Chief Financial Officer, reporting to Group CEO and President Jonathan Zaffino, effective November 8, 2023. Wilcox joins Ascot from Selective Insuranc...
Posted: Oct 05, 2023
Global investment management firm Nuveen is strengthening its UK insurance offering with the appointment of Kyrylo Sukhanenko as Managing Director, Head of UK Insurance. In his new role, based in London, Sukhanenko will be responsible for further...
Posted: Oct 05, 2023
Hong Kong-based global reinsurer Peak Re has recorded a net profit of $160 million for the first half of 2023, compared to the prior year’s net loss of $103 million. Peak Re reported reinsurance revenue of $750 million, reflecting a slight decreas...
Posted: Oct 05, 2023
US Life Insurers to withstand commercial real estate deterioration (CRE) exposure thanks to their stable investment portfolios, which include high-quality, diversified exposures, conservative underwriting, strong liquidity and effective asset-liab...
Posted: Oct 05, 2023
US insurance companies experienced a notable slowdown in their private equity investments in 2022, with a modest 3.3% increase to reach $132.0 billion, according to a recent report by AM Best. This slowdown followed two years of remarkable growth...
Posted: Oct 05, 2023
Insurtech startup Allium Data, Inc., has secured a pre-seed funding round of $750,000 from Markd, an insurance/insurtech-focused venture capital firm. The firm intends to use the funds to accelerate its growth and go-to-market strategy for all pla...
Posted: Oct 05, 2023
Vessel Protect, a specialist war risk underwriter and part of Pen Underwriting, has reaffirmed its commitment to supporting commercial operators who are looking to export Ukrainian grain, as the new maritime corridor “begins to gain traction...
Posted: Oct 05, 2023
Rainbow launches an annual term Business Owner’s Policy (BOP) tailored to the restaurant industry, entering the admitted commercial multi-peril market with capacity through insurtech Accelerant. The company’s digital insurance products...
Posted: Oct 05, 2023
Goldman Sachs’ latest report highlights a positive outlook for insurance brokers in the Americas as they head into the third quarter of 2023. Despite expectations of some deceleration in growth, brokers are set to enjoy above-average organic...
Posted: Oct 05, 2023
During a recent interview with Reinsurance News, Jereme Ramsay, Director, Business Development & Client Relations, Bermuda, SS&C Technologies, explained that if re/insurers are looking to increase allocation to private markets, then they n...
Posted: Oct 05, 2023
The African reinsurance landscape in 2021/2022 demonstrated a mix of notable growth and stability across both life and non-life sectors, as revealed by recent market data. Among the top 14 markets, the African life reinsurance market experienced s...
Posted: Oct 05, 2023
Concert Insurance Group (Concert) has announced that AM Best has assigned an “A-” (Excellent) rating with a stable outlook to Indigo Risk Retention Group, Inc. (Indigo RRG). This rating comes after Indigo RRG received a Preliminary Cre...
Posted: Oct 05, 2023
In a recent report, KBW (Keefe, Bruyette & Woods) has unveiled that homeowners’ insurance renewal rates have experienced a significant uptick in September 2023. The estimated industry-wide renewal rate change for homeowners’ insura...
Posted: Oct 05, 2023
Property & Casualty insurance giant Chubb has appointed Gordon Mackechnie as its new Chief Technology Officer. A seasoned technology leader, Mackechnie joins Chubb following a seven year tenure at Deutsche Bank. In his most recent role at the...
Posted: Oct 05, 2023
Specialty insurance managing general agent (MGA) Fiducia has named Brian Laflin as a senior development underwriter. Laflin joins the Leeds-based MGA from Lonham Group, where he was a senior underwriter writing for both Chaucer syndicate and compa...
Posted: Oct 05, 2023
Super-regional P&C insurance holding company, Heritage Insurance Holdings, Inc., has reported estimated retained catastrophe losses of $40 million for the third quarter of 2023. Heritage noted that the catastrophe losses during Q3 stem from th...
Posted: Oct 05, 2023
Life reinsurer Monument Re Limited has announced that Manfred Maske has stepped down from his role as Group Chief Executive Officer (CEO), effective September 19th, 2023, and has been replaced by Carlo Elsinghorst. Elsinghorst joined the company i...
Posted: Oct 05, 2023
The board of directors of French reinsurance giant SCOR have authorised the partial exercise of the call option to purchase 9,000,000 SCOR shares held by Covéa, representing 5.01% of SCOR’s share capital. Under the June 2021 settlement agreement e...
Posted: Oct 05, 2023