Reinsurance News
According to CRESTA’s update of its CLIX Loss List, in terms of industry loss amount, Q3 was dominated by the severe convective storms in Northern Italy, which brought damaging hail and winds to the regions of Lombardy, Veneto, Friuli-Venezi...
Posted: Oct 03, 2023
Root, an end-to-end digital insurance platform has announced expansion plans as South Africa-based Invenfin, the venture and growth capital arm of Remgro Limited, has made a further investment of $1.5m in the company. Root, which was founded in 20...
Posted: Oct 03, 2023
2023 is expected to be a record-breaking year for the UK bulk annuity market, surpassing the previous peak of £43bn, as it has already seen £21.1bn of business in HY1 which reflects a record first half year, said Aon in a recent report. According...
Posted: Oct 03, 2023
Sompo International, a global provider of commercial and consumer property and casualty re/insurance, has announced the appointment of Marilyn Faugas as Country Manager, Insurance for France. Her appointment comes as the company is in the process...
Posted: Oct 03, 2023
QBE North America, part of the global insurer, has announced the appointment of Ryan Powers as Senior Vice President (SVP) and Head of Construction, reporting to Mike Foley, President of Commercial Insurance. In the newly created role, Powers take...
Posted: Oct 03, 2023
Great American Insurance Group has announced the promotion of Joseph Kowaleski to the role of Senior Vice President (SVP) & Chief Information Officer (CIO), succeeding James Niehaus, who will retire in January 2024 after more than 16 years of...
Posted: Oct 03, 2023
Christopher Toppi has joined Cincinnati Re, the reinsurance arm of The Cincinnati Insurance Companies, as Director of Property Reinsurance. Toppi brings over eight years of industry experience to his new role. He is joining Cincinnati Re from Ryan...
Posted: Oct 03, 2023
Risk, safety, and insurance Software as a Service (SaaS) technology firm, Origami Risk, has named Chris Bennett as Chief Strategy Officer, and Mike Kaplan as Division President within its Core Solutions arm. With these appointments, the division i...
Posted: Oct 03, 2023
Analysts at Goldman Sachs expect rate firming to persist in reinsurance lines of business through the rest of 2023, with a deceleration in the January 1st, 2024, renewal rate changes, and pricing to normalise in late 2024. Despite reinsurance pric...
Posted: Oct 02, 2023
UK-based insurtech, Artificial Labs, and Tier 2 Consulting, renowned for its expertise in agile software development, have joined forces to revolutionise insurance solutions with automated underwriting technology. According to the announcement, th...
Posted: Oct 02, 2023
Pie Insurance, an insurtech company specialising in commercial insurance for small businesses, has appointed Audra Foglietta as the new Chief Financial Officer. Pie suggests that Foglietta will bring a wealth of financial leadership and strategic...
Posted: Oct 02, 2023
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) for Greenlight Reinsurance, Ltd. (Cayman Islands) and Greenlight Reinsurance Ireland, Desi...
Posted: Oct 02, 2023
Leading global life and health reinsurance firm, Reinsurance Group of America, Incorporated (RGA), has appointed Michele Bang to its Board of Directors A highly experienced veteran across the industry, Bang previously served as the Deputy Chief Ex...
Posted: Oct 02, 2023
Cyber insurance provider At-Bay, has announced it has added more than 40 new classes of business to its Miscellaneous Professional Liability (MPL) product and increased the eligible revenue limit for businesses to $50 million. At-Bay has boosted t...
Posted: Oct 02, 2023
American Overseas Group Limited has reported a consolidated net income available to common shareholders of $0.9 million, for the second quarter of 2023. This figure compares to a consolidated net loss available to common shareholders of $0.3 milli...
Posted: Oct 02, 2023
WTW, a leading global advisory, broking, and solutions company, has announced the appointment of Karen Beldy Torborg to a dual-hatted role within the Corporate Risk and Broking (CRB) division in North America. Beldy Torborg will serve as both Head...
Posted: Oct 02, 2023
While the U.S. government has avoided a federal shutdown, a recent AM Best report highlights the potential impact a shutdown could have on the insurance industry, were it to happen in the future. Fortunately, both the House and Senate agreed on a...
Posted: Oct 02, 2023
International Finance Corporation (IFC), a global development institution focused on the private sector in emerging markets, has signed a $3.5 billion credit insurance policy with 13 global insurance companies under its Managed Co-Lending Portfoli...
Posted: Oct 02, 2023
Allianz SE has announced a series of updates to its Board of Management, among which Oliver Bäte’s mandate as Chairman has been renewed and extended through the Annual Shareholders Meeting 2028. At the same time, The mandate of Andreas Wimmer as a...
Posted: Oct 02, 2023
Artificial intelligence (AI) industry leader Christian Toft-Nielsen has been appointed to the role of Senior Vice President, Predictive Modeling and AI Strategy at Ascot. According to the announcement, in this newly created role, Christian will ho...
Posted: Oct 02, 2023
Polo Managing Agency Limited (Polo), a prominent independent Lloyd’s turn-key Managing Agent, has officially assumed management of Coverys Syndicate 1975. This specialist medical professional lines syndicate is set to transition to Polo̵...
Posted: Oct 02, 2023
In a strategic move towards advancing the aviation sector’s sustainability agenda, Convex Group Ltd (Convex) has announced a cornerstone investment in Skyrisks Limited (Skyrisks). Skyrisks, a London-based managing general agent, is poised to...
Posted: Oct 02, 2023
SCOR has appointed Thomas Fossard as Head of Investor Relations, where he will also oversee the firm’s relationship with the rating agencies. The French reinsurer describes Fossard as “highly esteemed by the investment community”...
Posted: Oct 02, 2023
Velocity HoldCo, LLC, and Insight Risk Technologies LLC have reached an agreement for Velocity to acquire a majority stake in Insight Risk, a one-stop loss prevention and risk transfer solution provider for the Builder’s Risk market. The acq...
Posted: Oct 02, 2023
Flood forecaster Previsico has raised further funding, significantly higher than the prior one in 2021, which is aimed to accelerate growth in Europe and enable US expansion. Flooding continues to be the most common and costly natural hazard in No...
Posted: Oct 02, 2023