Reinsurance News
MGT Partners, a privately owned organisation backed by experienced insurance executives and investors, has acquired CM Select from Church Mutual, a leading insurer of religious organisations in the US. The completed acquisition – subject to...
Posted: Oct 05, 2023
Global risk and reinsurance specialist Guy Carpenter, a subsidiary of Marsh McLennan, has appointed Blake Dimitrijevic as the Head of Capital Advisory, Asia Pacific, based out of Hong Kong SAR. Effective immediately, Dimitrijevic will report to To...
Posted: Oct 05, 2023
Global insurance and reinsurance broker Aon has announced the appointment of Isabel Blazquez Solano as CEO of Brazil, and Daniela Diaz as head of Peru, within its Reinsurance Solutions business. Solano has extensive industry experience across EMEA...
Posted: Oct 05, 2023
Dublin-domiciled aviation company, SMBC Aviation Capital, stated that it has received cash insurance settlement proceeds totalling approximately $710 million in respect of its aircraft previously leased to Aeroflot, a Russian state-owned airline c...
Posted: Oct 05, 2023
M&A investors and specialists Pop Group Holdings has appointed Shannon Murphy as the Group’s Chief Information Officer (CIO), based out of Singapore. Murphy’s remit will include spearheading all aspects of POP’s digital strategy, technology op...
Posted: Oct 05, 2023
Insurance broker Marsh, has announced the appointment of Michael Pellegrini as Specialty Leader for US and Canada, effective immediately. In this role, based in San Francisco, Pellegrini will oversee Marsh’s Aviation, Construction, Credit Specialt...
Posted: Oct 05, 2023
Selective Insurance Group has announced that Mark Wilcox, Executive Vice President and CFO, has resigned, effective November 3, with Anthony (Tony) Harnett, Senior Vice President, and Chief Accounting Officer, assuming the additional role of Inter...
Posted: Oct 05, 2023
In a significant development within the insurance industry, insurance broker WTW launched Verita CSG, Inc. as a Managing General Underwriting (MGU) company, specialising in delivering tailored insurance solutions to target industries. With a keen...
Posted: Oct 04, 2023
Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, has acquired Louisville, Kentucky-based WLA Insurance, LLC, dba Altman Insurance Services. Terms of the transaction were not disclosed. Altm...
Posted: Oct 04, 2023
Global insurance and reinsurance broker Aon is looking to enhance its risk capital capability offering in India with the acquisition of Global Insurance Brokers, a composite re/insurance brokerage offering services across 17 offices. Once the deal...
Posted: Oct 04, 2023
HIVE Underwriters Ltd. and Allianz Commercial are collaborating to underwrite Aviation Hull War and Excess Third-Party Aviation War Liabilities (XS AVN52) classes with immediate effect. With capacity from Allianz, the facility utilises HIVE’s risk...
Posted: Oct 04, 2023
The U.S. commercial auto insurance segment faced a substantial setback in 2022, with underwriting losses skyrocketing to $3.3 billion, as revealed by a recent report from AM Best. This downturn came on the heels of nearly breakeven results in the...
Posted: Oct 04, 2023
Aspida Holdings, Ltd., a provider of retirement and reinsurance solutions, has named Alex Seidita as its new Chief Information Officer (CIO), taking over from Joe Lurie, who has served as the firm’s CIO since its inception and is to retire...
Posted: Oct 04, 2023
Vericity, Inc. has entered into a definitive merger agreement with iA American Holdings, Inc., a subsidiary of iA Financial Corporation, Inc., to be acquired in an all-cash transaction valued at approximately $170 million. Vericity is majority-own...
Posted: Oct 04, 2023
According to recently updated global rankings by Insuramore, 638 insurer groups worldwide, across life/annuity, health and, P&C, were “insurer billionaires” in 2022, with gross direct premiums for the year of more than $1 billion. The analysis...
Posted: Oct 04, 2023
DARAG, an international re/insurance group and legacy acquirer, has completed an agreement between an undisclosed Benelux based captive, the captive’s policyholder and DARAG’s German insurance carrier DARAG Deutschland AG. According to the announc...
Posted: Oct 04, 2023
Sean Bourgeois, the former founder of innovative online reinsurance marketplace Tremor, has launched his next venture, a secure communications platform for the global commercial insurance industry named fuse. According to Bourgeois, Founder &...
Posted: Oct 04, 2023
Coalition, a pioneering Active Insurance provider, has entered into a strategic partnership with MS&AD Insurance Group, the largest non-life insurer in Japan and across the ASEAN region, to provide cybersecurity monitoring solutions to small a...
Posted: Oct 04, 2023
General Insurance Corporation of India has appointed Ramaswamy N as its new Chairman and Managing Director (CMD), effective from October 1, 2023. According to the announcement, this appointment follows the decision by the Ministry of Finance, Gove...
Posted: Oct 04, 2023
UK regulator the Prudential Regulation Authority (PRA) has revealed plans to conduct a dynamic general insurance stress test in 2025. The objectives of this dynamic stress test, which is scheduled to take place in 2025, are threefold. The PRA aims...
Posted: Oct 04, 2023
International reinsurer, Aventum, has appointed Hasani Jess as the Group’s first Chief Technology Officer. This is in line with the company’s vision to build a sophisticated technology ecosystem to enable its sustainable growth ambitions. David Be...
Posted: Oct 04, 2023
International insurance and reinsurance group, Aventum, has appointed Hasani Jess as the Group’s first Chief Technology Officer (CTO), in line with the company’s vision to build a sophisticated technology ecosystem to enable sustainable growth amb...
Posted: Oct 04, 2023
“Globally, we see ~$27bn of insured losses, with the US generating ~$17bn of the losses, which is modestly below the 10-year 3Q average,” suggest analysts at Goldman Sachs. According to the firm’s analysts, the majority of the US...
Posted: Oct 04, 2023
Catastrophe bond and related insurance-linked securities (ILS) issuance in the first nine months of 2023 increased approximately $2 billion year-on-year to $10.9 billion, with $549 million of new risk capital brought to market in the third-quarter...
Posted: Oct 04, 2023
DUAL Europe has continued its expansion in key sectors with a new Marine team in Rotterdam led by experienced underwriters Aram Stoop and Pim de Pooter. DUAL Europe’s new Marine Hub will initially offer Ocean and Inland Hull, Builders Risks, Cargo...
Posted: Oct 04, 2023