Reinsurance News
According to reinsurance broker Gallagher Re’s Chief Science Officer, Steve Bowen, 2023 has officially crossed the $50 billion insured loss threshold for US severe convective storm (SCS) activity for the first time on record, based on either a nom...
Posted: Sep 29, 2023
French private equity firm Eurazeo has now completed its investment into global insurance and reinsurance broker BMS Group, which coincides with former PartnerRe Chief Executive Officer (CEO), Emmanuel Clarke, taking over as Chairman. It was annou...
Posted: Sep 28, 2023
Coalition, a pioneering Active Insurance provider focused on preemptively mitigating digital risks, has unveiled a strategic long-term partnership with HDI Global Specialty SE. As the specialty insurance arm of HDI Global SE, a renowned insurer, H...
Posted: Sep 28, 2023
American Coastal Insurance, formerly known as United Insurance Holdings, has entered into an equity distribution agreement under which it may offer and sell up to 8,000,000 shares of its common stock, potentially raising up to $69.12 million. Amer...
Posted: Sep 28, 2023
Lonny Meewes has become the new Chief Marketing Officer for Canada Life Reinsurance, a provider of reinsurance solutions for life and health, annuity, and property & casualty business. In his new role, Meewes will focus on Canada Life Re’s glo...
Posted: Sep 28, 2023
Credit rating agency AM Best has revised its outlook on Mexico’s insurance industry to stable from negative. According to the announcement, this is given the strong recovery in Mexico’s insurance industry amid expected GDP growth in 2023. In its B...
Posted: Sep 28, 2023
Alex Vullo has been appointed Executive Director of Gallagher’s Marine Protection & Indemnity (P&I) insurance practice, where he will be responsible for leading its growth in the market. According to the firm, Vullo will report to Jo...
Posted: Sep 28, 2023
“Managing the rising cost of cyber insurance requires a collaborative approach across the industry… By working together, the industry can create a more resilient and sustainable market,” suggests Rehan Hussain, Head of Underwriti...
Posted: Sep 28, 2023
Loadsure, a prominent Insurtech MGA (Managing General Agent), has forged a strategic partnership with WeatherOptics, a leading weather intelligence platform. The collaboration aims to integrate weather intelligence into Loadsure’s risk calcu...
Posted: Sep 28, 2023
Insurance services holding company, K2 Insurance Services, has announced a strategic equity investment in Titan Flood Inc., and will oversee its long-term strategy through participation on its board of directors. Titan Flood is a new Managing Gene...
Posted: Sep 28, 2023
In its H1 2023 results, Swiss insurer Helvetia boasted that it once again achieved profitable growth, seeing its business volume increase by 6% to CHF 6,687.0 million. According to the firm, the expansion was driven by strong growth in non-life in...
Posted: Sep 28, 2023
Gallagher Re has appointed Linda Purnama to lead its reinsurance proposition in Indonesia, this move is aimed to strengthen client relationships in the country and signifies another milestone for the reinsurer. A well-known figure in the Asia-Paci...
Posted: Sep 28, 2023
RSA Insurance has launched a new Pension Trustee Liability (PTL) insurance product, expanding its Financial Risks portfolio. The PTL product, now available to brokers and commercial lines customers throughout the UK via RSA’s Mid Market business,...
Posted: Sep 28, 2023
Cyber Insurtech Coinnect has announced its inclusion in the portfolio of Plug and Play, “the world’s largest startup accelerator.” According to Coinnect, Plug and Play, known for its investments in more than 30 unicorns and notab...
Posted: Sep 28, 2023
Porch Group has announced a cash investment of $57 million in its insurance carrier subsidiary, Homeowners of America Insurance Company (HOA), in exchange for both a $49 million surplus note from HOA and the acquisition of HOA’s rights to potentia...
Posted: Sep 28, 2023
According to a new report by Insure Our Future, leading European insurers are underwriting nearly a third of U.S. coal production, despite their net zero commitments. As per the group’s report, Lloyd’s of London, Zurich, and Swiss Re are amo...
Posted: Sep 28, 2023
The National Association of Insurance Commissioners (NAIC) has reported a remarkable 50% increase in US cyber insurance premiums in 2022, totaling $7.22 billion, according to Aon’s U.S. Cyber Market Update. While this growth is notable, the...
Posted: Sep 28, 2023
Lloyd’s focused investment vehicle Helios Underwriting has reported that H1 2023 gross written premiums (GWP) increased by 28% to £160m, while the underwriting result improved by a massive 252%. According to Helios, the 28% GWP boost reflects the...
Posted: Sep 28, 2023
Kiwi insurer, Tower has completed the renewal of its reinsurance programme for the 2024 financial year, decreasing its catastrophe upper limit to $750 million. Tower says that is has secured a comprehensive reinsurance programme at competitive rat...
Posted: Sep 28, 2023
The Insurance Institute of London (IIL) is proud to announce the election of Dominick Hoare as its new President for the 2023-24 term. Hoare brings with him a wealth of experience from his role as the Group Chief Underwriting Officer of the Munich...
Posted: Sep 28, 2023
Specialty insurer Berkshire Hathaway Specialty Insurance (BHSI) has announced the appointment of Pascal Carrer as the Head of Casualty in Switzerland, based in Zurich. Leander Metzger, Country Manager in Switzerland, BHSI, commented on the appoint...
Posted: Sep 28, 2023
Canadian SMEs will now be able to buy affordable property cover through an enhanced extension to AEGIS London’s existing digital E&O package. Lloyd’s insurer AEGIS London’s existing digital E&O package offering has been made affordable for...
Posted: Sep 28, 2023
Leading U.S. mortgage industry player Fannie Mae has successfully executed its eighth Credit Insurance Risk Transfer (CIRT) transaction of 2023, transferring $344.3 million in mortgage credit risk to private insurers and reinsurers. Rob Schaefer,...
Posted: Sep 28, 2023
Arrowhead General Insurance Agency, Inc. has announced the appointment of Mark Kaufman as its Chief Actuary for the National Programs Division of Brown & Brown, Inc. Jimmy Curcio, Chief Strategy & Analytics Officer for the division, commen...
Posted: Sep 28, 2023
Global broker Howden’s reinsurance arm, Howden Tiger, has announced that its current President, Tim Ronda, will take over as the firm’s Chief Executive Officer (CEO), reporting to David Howden, CEO of Howden. Effective January 1st, 202...
Posted: Sep 27, 2023