Reinsurance News
CCRIF SPC has established the Caribbean Water Utility Insurance Collective (CWUIC) as a segregated portfolio, enabling water utilities in the Caribbean to access parametric insurance for financial protection against extreme weather events. CCRIF i...
Posted: Sep 21, 2023
Specialty Casualty, Executive Assurance and Professional Liability insurance firm, Arch Insurance (Bermuda), has announced that Tony Hay will step down from his role as President and Chief Underwriting Officer (CUO) at the end of the year. Hay has...
Posted: Sep 21, 2023
The global insurance brokerage, risk management and consulting services firm, Arthur J. Gallagher & Co., has signed a definitive agreement to acquire Eastern Insurance Group, LLC (Eastern Insurance), a subsidiary of Eastern Bank. Massachusetts...
Posted: Sep 21, 2023
Lloyd’s and London Market insurance services provider, PoloWorks, has launched Polo Digital, a new digital market offering designed to support Blueprint 2 and the digitisation of the London market. Polo, the trading name of both Polo Managing Agen...
Posted: Sep 21, 2023
Global specialty property and casualty insurer and reinsurer, Somers Group Holdings Ltd., has announced the appointment of John Patin IV as its first Chief Investment Officer (CIO). In the role, Patin assumes responsibility for overseeing Somers’...
Posted: Sep 21, 2023
US-based Trium Cyber, a Lloyd’s of London cyber specialist, has announced the opening of its London office to write coverage for clients based outside of the US. Trium Cyber’s London office will be headed by Amie Watson as Head of International Un...
Posted: Sep 20, 2023
Corvus Insurance, an AI-powered cyber specialty insurer, has announced it has expanded its relationship with Travelers, a personal, business and specialty insurer. Through this partnership Travelers will serve as a capacity provider for Corvus pro...
Posted: Sep 20, 2023
Brown & Brown Europe, part of Brown & Brown Inc., has agreed to acquire 100% of the share capital of Occam Underwriting Limited, a London-based MGA and Lloyd’s Coverholder. Occam has been majority-owned by Hudson Structured Capital Managem...
Posted: Sep 20, 2023
Lloyd’s, on behalf of the Sustainable Markets Initiative’s Insurance Task Force, has announced a partnership with the United Nations Capital Development Fund (UNCDF) to scale insurance access for climate-vulnerable countries. Through this partners...
Posted: Sep 20, 2023
Primary insurer QBE has announced that it has appointed Naintara Agarwal as the Director of Underwriting and Portfolio Management for Europe. Based in London, Agarwal brings a vast degree of industry knowledge and experience to the role, spanning...
Posted: Sep 20, 2023
Reinsurer Topsail Re has introduced its newest team member, Michael Swartz, who has assumed the role of Vice President (VP) of Underwriting. With over 22 years of experience in both primary insurance and reinsurance sectors, Swartz brings a wealth...
Posted: Sep 20, 2023
In the ever-changing landscape of the re/insurance industry, the focus on rate increases has been intense in recent times, but according to Mirek Wieczorek, Head of Reinsurance at ICW Group Insurance Companies, there’s more to the story than...
Posted: Sep 20, 2023
SageSure has launched enhancements to its Expanded Markets product, a program that offers additional capacity in coastal states. Terrence McLean, CEO of SageSure, commented, “As coastal markets continue to firm, demand for capacity remains strong....
Posted: Sep 20, 2023
Across the United States, homeowners and renters have been receiving letters from their insurance providers letting them know they are being dropped, as a combination of catastrophic events, rising costs and regulatory pressures have majorly strai...
Posted: Sep 20, 2023
Zurich-based catastrophe insurance data provider PERILS has disclosed its fourth and final industry loss estimate for Typhoon Nanmadol, lowering it to JPY 125.9 billion. This latest figure compares to PERILS’ previous loss estimates of JPY 129.6 b...
Posted: Sep 20, 2023
Building standards improvements in Florida since the 1970s have trimmed the magnitude of hurricane annual losses, however, these gains have been dwarfed by higher modelled loss expectations arising from population growth in the state, Swiss Re Nat...
Posted: Sep 20, 2023
The Lloyd’s Market Association (LMA) has announced the launch of its Environmental, Social and Governance (ESG) Academy, designed for professionals within the Lloyd’s market and the global re/insurance sector. With a comprehensive range of c...
Posted: Sep 20, 2023
SportsCover Direct, a specialist digital distributor of insurance to niche online markets, has announced a new corporate structure, which includes the debut of Starpeak as its new company name. According to the announcement, Starpeak embodies the...
Posted: Sep 20, 2023
With cyber being one of the top emerging risks for the re/insurance industry, some believe there are still many challenges to overcome, one of them being the creation of models to make it insurable, as it is argued there is not enough data yet to...
Posted: Sep 20, 2023
The KBW Insurance Conference 2023 shed light on the current state of the Property and Casualty (P&C) insurance market, revealing a landscape marked by pricing resilience, careful risk assessment, and a commitment to technological advancements....
Posted: Sep 20, 2023
Allianz Commercial has announced the addition of Darren Smart to its global Specialty leadership team as Global Head of Construction, a London based role. Smart joins from Liberty Specialty Markets, where he is currently Global Construction Practi...
Posted: Sep 20, 2023
European insurance group Talanx has launched a €300 million capital raise to increase its free float, as the company looks to enhance the trading liquidity of its shares and further improve its position in equity indices. The company’s share...
Posted: Sep 20, 2023
John Coleman has been appointed to the role of Managing Director of Origination – Agriculture – North America at Munich Re Trading LLC, the Weather and Commodity Group of reinsurance giant Munich Re. Coleman is an experienced specialis...
Posted: Sep 20, 2023
Specialist (re)insurance broker Miller has announced a significant expansion of its reinsurance offering through the establishment of a new treaty reinsurance team in APAC, led by Richard Broad as Head. Broad most recently served as Regional Head...
Posted: Sep 20, 2023
The Lloyd’s insurance and reinsurance market is considering expanding its list of the five main peak perils it considers in natural catastrophe exposure management, to include some of the so-called secondary perils that now have materiality...
Posted: Sep 20, 2023