Reinsurance News
Global non-life specialty insurer R&Q Insurance Holdings has confirmed that it is now in advance talks regarding a potential sale of its Accredited program Management business to private equity investment manager Onex Corporation. The news was...
Posted: Sep 22, 2023
A growing number of US citizens are facing difficulties in affording insurance on their homes, a problem that is only expected to worsen because insurers and lawmakers are said to have underestimated the impact of climate change, a new report from...
Posted: Sep 22, 2023
Planck, global insurtech platform for commercial insurance, has launched the first generative artificial intelligence (GenAI) enhanced underwriting workbench known as Planck PLUS. Planck PLUS is both a strategic toolkit and a trusted co-pilot that...
Posted: Sep 22, 2023
Maamoun Rajeh, Chairman and Chief Executive Officer (CEO) of Arch Worldwide Reinsurance Group, remains bullish on the reinsurance sector, and expects to see increased demand for coverage in what he describes as a healthy ecosystem. Speaking recent...
Posted: Sep 21, 2023
Global specialty re/insurer Canopius Group has announced the appointment of Lucy Lumb as Underwriter, Property Coverholder and Delegated Authority, and Trisha Urquhart as Underwriter, Accident & Health. The new additions bolster the firm’...
Posted: Sep 21, 2023
In early September, Hong Kong and the Pearl River Delta area, including China’s Guangdong Province and Macau, suffered substantial flooding from a major rainstorm, and AM Best expects the gross loss will not be quite as severe but could come close...
Posted: Sep 21, 2023
In its “2023 Cyber Claims Report: Mid-year Update,” Coalition, a leading Active Insurance provider for digital risk prevention, reveals a concerning 12% increase in cyber claims during the first half of 2023, driven by rising ransomwar...
Posted: Sep 21, 2023
U.S. primary insurer Allstate has announced estimated catastrophe losses for the month of August of $641 million, of which approximately half were related to the Maui wildfire. The primary insurer’s August catastrophe losses include 18 event...
Posted: Sep 21, 2023
As interest rates steadily rise, life insurers have become acutely aware of the potential capital losses that may ensue from escalating policyholder lapse, Gallagher Re, a leading global reinsurance broker, unveiled in its first installment of res...
Posted: Sep 21, 2023
For the insurance industry to successfully address some of the key risks facing the world and support resilience, inclusivity, and sustainability, it’s vital that there’s a real focus on cost, confidence, and relevance, according to Br...
Posted: Sep 21, 2023
Texas-based Specialty Group, a member of the Tokio Marine HCC group of companies, has strengthened its global broker proposition by incorporating its Crisis Management Insurance team into its International Division. This integration provides inter...
Posted: Sep 21, 2023
Cyber attacks and financial risks have been ranked as the biggest worries for mid-sized businesses, according to QBE North America. In their 2023 Mid-Sized Company Risk Report, QBE NA sheds light on the dynamic landscape of mid-sized businesses ac...
Posted: Sep 21, 2023
International insurtech bolttech has welcomed LeapFrog Investments as a new strategic investor in an extension of its Series B round, which now totals $246 million, “the largest ever Series B round for an insurtech.” bolttech suggested...
Posted: Sep 21, 2023
Lloyd’s insurer AEGIS London has announced the appointment of Viren Patel as Head of Risk, reporting to Graeme Tennyson, Chief Risk and Compliance Officer at AEGIS London. Patel’s is tasked with leading AEGIS London’s risk team and focusing...
Posted: Sep 21, 2023
French reinsurance company CCR Re was acquired by a consortium comprised of SMABTP and MACSF earlier this year, a deal which is positive for all parties and a good fit for the reinsurer, according to Deputy Chief Executive Officer (CEO), Laurent M...
Posted: Sep 21, 2023
BOXX Insurance, an insuretch that combines cyber insurance and security, has announced a partnership with Nova Southeastern University (NSU) and its Alan B. Levan | NSU Broward Center of Innovation. According to the announcement, through this...
Posted: Sep 21, 2023
Nirvana, a newly launched Media, Tech and Cyber MGA, has launched its new European SME Warranty & Indemnity (W&I) binder, led by mergers & acquisitions (M&A) underwriting expert, Thomas Mannsdorfer. According to the announcement, t...
Posted: Sep 21, 2023
With the property hard market firmly intact, the upcoming January 1st renewal is set to be much more orderly than last year, said JMP Securities analysts as they share their comments following the RVS 2023 in Monte Carlo. “Overall, we see the upco...
Posted: Sep 21, 2023
The recent cyberattacks on gaming and hospitality giants MGM Resorts International and Caesars Entertainment have sent shockwaves through the cybersecurity and insurance industries. Guy Carpenter’s Cyber Center of Excellence has issued a Cyb...
Posted: Sep 21, 2023
The recent cyberattacks on gaming and hospitality giants MGM Resorts International and Caesars Entertainment have sent shockwaves through the cybersecurity and insurance industries. Guy Carpenter’s Cyber Center of Excellence has issued a Cyb...
Posted: Sep 21, 2023
Bermuda-based global reinsurer Conduit Re, has selected pricing decision intelligence (PDI) leader hyperexponential’s hx Renew platform to achieve end-to-end underwriting. Using the PDI platform, Conduit Re is now able to rapidly develop and itera...
Posted: Sep 21, 2023
Legal & General Assurance Society Limited has agreed a c.£340 million buy-in with the Cable and Wireless Superannuation Fund, securing the benefits of around 1,800 retirees and deferred members. According to Legal & General, the sponsoring...
Posted: Sep 21, 2023
In a recent report, Moody’s has underscored the increasing physical climate risk and its implications for the insurance and reinsurance industries. The report highlights that the rising frequency and severity of destructive weather events ar...
Posted: Sep 21, 2023
“As a market, we have not yet demonstrated the same zeal for rate adequacy in the casualty book as we’ve seen in property, this is particularly true for US general liability, where rate is barely keeping up with inflation, despite the...
Posted: Sep 21, 2023
Global insurer QBE Insurance Group has confirmed the appointment of Julie Wood as Chief Executive Officer (CEO) of the company’s North American division, a role she has held on an interim basis since August. Wood joined QBE Insurance in Janu...
Posted: Sep 21, 2023