Reinsurance News
Specialty insurer Beazley has appointed Alessandro Lezzi as Group Head of Cyber Risks, reporting to Paul Bantick, Group Chief Underwriting Officer, Beazley. Lezzi has reportedly worked in the re/insurance industry for over twenty years, both as an...
Posted: Dec 16, 2024
Moody’s has upgraded the insurance financial strength (IFS) ratings of Arch Capital’s P&C re/insurance operating subsidiaries to A1 from A2 and the senior unsecured debt rating of the Group to A3 from Baa1. The rating outlook for t...
Posted: Dec 16, 2024
Canadian financial holding company Fairfax Financial Holdings Limited has increased its ownership interest in specialist insurer Brit Limited to 100% from 86.2%. This was done by acquiring the interest of OMERS, the pension plan for Ontario’s muni...
Posted: Dec 16, 2024
AllianceBernstein L.P. (AB), the global investment firm, has appointed Bob Sharma as Head of Insurance, EMEA & APAC, Client Group, where he will be based in the company’s London office. An experienced veteran across the sector, Sharma jo...
Posted: Dec 16, 2024
The Insurance Information Institute (Triple-I) has elected Matt McHatten, current president and chief executive officer at MMG Insurance, as chair of its Executive Leadership Committee (ELC). McHatten is succeeding Jennifer Kyung, CEO and founder...
Posted: Dec 16, 2024
Itasca MGA Limited, an aviation-focused managing general agent (MGA), has structured an aircraft non-payment (ANPI) credit insurance policy for JLPS Ireland Limited. This solution provides wrapped debt financing with respect to Operating Leases ar...
Posted: Dec 16, 2024
Global insurance firm American International Group, Inc (AIG) has led the launch of a new reinsurance syndicate at the specialist Lloyd’s marketplace, which will be a multi-year participant on the firm’s outwards reinsurance program. S...
Posted: Dec 13, 2024
Howden Re, the reinsurance arm of Howden, has announced the appointments of Paul Nicholson and Dominic Riley to its Aviation and Space team within the Global Specialty Reinsurance division. These appointments are set to enhance Howden Re’s Global...
Posted: Dec 13, 2024
Member companies of the Association of Bermuda Insurers and Reinsurers (ABIR) contributed a staggering $1,016,904,197 to Bermuda’s economy in 2023, making it the highest amount recorded in ABIR’s 31-year history. In fact, 2023 marked the first yea...
Posted: Dec 13, 2024
According to AM Best, the global credit ratings agency, the US nonstandard auto insurance segment has posted a slight profit for the first half of 2024, following two years of unprofitable but improving results. A new report released by the agency...
Posted: Dec 13, 2024
The re/insurance market has remained consistent towards Swiss Re’s 2025 financial targets, and the reinsurer expects the market to be constructive going forward, according to Urs Baertschi, P&C Reinsurance Chief Executive Officer, Swiss...
Posted: Dec 13, 2024
Farmers Insurance has announced it will resume offering coverage for multiple lines of insurance in California to new customers, in a phased reintroduction beginning December 14, 2024. Farmers Insurance’s expanded coverage will include condominium...
Posted: Dec 13, 2024
Bay Harbor Reinsurance Company, a provider of reinsurance solutions for the US Property and Casualty market, has established a new $50 million letter of credit facility with Barclays Bank PLC. The agreement includes provisions that could potential...
Posted: Dec 13, 2024
The property market remains in a delicate state, although a general softening trend is evident, Amwins’ analysts have stated in its latest State of the Market Report This year has seen a series of significant weather events, with Hurricanes Helene...
Posted: Dec 13, 2024
A report by Howden Employee Benefits, in partnership with YouGov, reveals that 77% of UK small and medium-sized enterprises (SMEs) plan to update their employee benefits packages to attract and retain top talent, address workforce challenges, and...
Posted: Dec 13, 2024
EPIC Insurance Brokers & Consultants, a provider of risk management, insurance brokerage, and employee benefits consulting, has appointed Robert Peretti as Executive Director to lead National Markets and Placement. In this role, Peretti will p...
Posted: Dec 13, 2024
Guy Carpenter, Marsh McLennan’s reinsurance broking arm, has launched a new research project to explore using parametric insurance solutions to insure communities across California and Florida for wildfire and hurricane risks. The research i...
Posted: Dec 13, 2024
The risk to vessels, undersea cables, and offshore oil installations is growing primarily due to the availability of advanced weapons and the willingness of certain states, notably Russia and Iran, to disregard international maritime laws, accordi...
Posted: Dec 13, 2024
2025 is expected to see a renewed push for statutory reforms in states heavily impacted by hurricanes in the commercial property insurance space in hurricane-prone states, which were severely impacted by the 2024 Atlantic Hurricane season, accordi...
Posted: Dec 13, 2024
Antoine Bavandi, Global Head of Public Sector, Parametric & Climate Resilience Solutions at Gallagher Re highlighted the growing recognition of disaster risk financing and insurance in disaster response during his summary of key takeaways from...
Posted: Dec 13, 2024
MAPFRE RE, the reinsurance arm of Madrid-headquartered insurer MAPFRE, has announced it is sponsoring the issuance of a catastrophe bond of USD $125 million, issued through Recoletos Re DAC, an special purpose vehicle (SPV) incorporated in Ireland...
Posted: Dec 13, 2024
Industry giant Munich Re has disclosed that due to consistently good operational performance in all business segments, the group is now aiming for an IFRS net profit of €6 billion in 2025. This morning, the reinsurance giant announced some targets...
Posted: Dec 13, 2024
Devonshire Underwriting, a managing general agent (MGA) specialising in underwriting transactional risk solutions, has announced the appointment of Kate Nolan as Associate – Tax, effective immediately. In her new role, Nolan will work alongside De...
Posted: Dec 13, 2024
Swiss Re has revealed its financial targets for 2025, including a Group net income of more than $4.4 billion, and a Property & Casualty Reinsurance combined ratio of less than 85%. According to the global reinsurer, all business units are aimi...
Posted: Dec 13, 2024
LIMRA, a global research and consulting organisation for the insurance and financial services industry, reports that the total US single-premium pension risk transfer (PRT) premium reached $14.2 billion in the third quarter. This represents a 36%...
Posted: Dec 13, 2024