Reinsurance News
IFRS 17 changes create a lot of opportunity for reinsurers to help companies deal with the entwined disruption, suggested Paul Murray, CEO of Life & Health Reinsurance, Swiss Re, speaking with CNBC. Discussing the current outlook of the L&...
Posted: Sep 20, 2023
AM Best has noted that industry-backed solutions are likely to support Morocco’s earthquake relief despite low insurance penetration in the country. Outlining the key aspects of the event, AM Best noted that the earthquake that occurred on S...
Posted: Sep 20, 2023
Tokio Marine Kiln (TMK), part of global insurance group Tokio Marine, has announced the appointment of Liam Burke to its Life Sciences division as underwriter, effective immediately. In his new role, he will be responsible for the growth and devel...
Posted: Sep 20, 2023
Fitch Ratings has recently revealed that it expects premium rate increases, rising investment yields and strong demand for reinsurance protection globally, will continue to support Latin American (LatAm) reinsurers’ earnings in the second half of...
Posted: Sep 19, 2023
The African Risk Capacity (ARC) will assist the Malawi Government to scale up the World Bank’s Social Support for Resilient Livelihoods Project (SSRLP) through innovative insurance, which reinforces Malawi’s Social Cash Transfer Programme. Malawi’...
Posted: Sep 19, 2023
Fitch Ratings has upgraded Generali’s Insurer Financial Strength (IFS) rating to “A+” from “A” with a stable outlook, and has also upped the firm’s Long-Term Issuer Default Rating (IDR) to ‘A’ from ‘A-‘. Fitch suggest...
Posted: Sep 19, 2023
Following meetings with executives at the recently held 2023 Rendez-Vous de Septembre (RVS) in Monte Carlo, KBW has reported that the majority of reinsurers view global catastrophe risks as well priced, with overall risk-adjusted rates expected to...
Posted: Sep 19, 2023
Everest has announced the appointment of Clement Demetz as Reinsurance Chief Financial Officer (CFO), bringing to the firm a wealth of experience in finance, risk management, and strategic planning. He joins Everest from SCOR, where he has worked...
Posted: Sep 19, 2023
Sedgwick, a global provider of technology-enabled risk, benefits and integrated business solutions, has announced that it has launched a new local capability framework for Australia, defining the art and science of loss adjusting. According to the...
Posted: Sep 19, 2023
Reinsurers domiciled in the Middle East and North Africa (MENA) region reported double-digit growth in Gross Written Premium in 2022, with firms citing favourable global reinsurance pricing trends, inflation, new business opportunities, and correc...
Posted: Sep 19, 2023
MS Amlin, the Lloyd’s global re/insurer, has announced Jessie Burrows is to succeed Phil Green, who is retiring, as Chief Financial Officer (CFO). Subject to regulatory approval, Burrows will assume her role at the beginning of 2024 and will repor...
Posted: Sep 19, 2023
According to Brit Group Deputy Chief Underwriting Officer, Jon Sullivan, the current market environment is a positive for Brit’s growth aspirations particularly on the short tail lines. At the 2023 RVS Monte Carlo event, Reinsurance News spoke wit...
Posted: Sep 19, 2023
Inver Re, the reinsurance broking arm of the Ardonagh Group, has announced the launch of an integrated global index practice, to be led by Tom Johansmeyer. Johansmeyer’s appointment as Inver Re’s Global Head of Index was announced earlier in...
Posted: Sep 19, 2023
Swiss Re, one of the world’s largest reinsurance companies, is passionate about closing the protection gap, and although much of the architecture is in place, progress has been frustratingly slow, according to Chief Executive Officer (CEO), Christ...
Posted: Sep 19, 2023
Specialty insurer Trisura Group Ltd. has announced the appointment of Terry Michalakos as the Senior Vice President (SVP) of North American Surety. Michalakos’ remit in the new role will include supporting surety teams across North America to unde...
Posted: Sep 19, 2023
Specialty insurer and reinsurer Canopius Group has announced the expansion of its U.S. Casualty business with its entry into the domestic U.S. Excess Casualty market on Canopius U.S. Insurance Company paper. The re/insurer says that this move unde...
Posted: Sep 19, 2023
Analysts at BMO Capital Markets have said that it will take some years for the elevated cost of reinsurance coverage to get fully passed through by primary insurers, if they are even fully passed through. BMO Capital Markets explains that underlyi...
Posted: Sep 19, 2023
AXIS Capital has announced the appointment of Kelly Beaudoin as Head of the company’s Partnership Office, a cross-functional team that guides the organisation’s change management programs. In this newly created role, Beaudoin will work with AXIS P...
Posted: Sep 19, 2023
AM Best’s report on a select group of Asia-Pacific reinsurers, reveals that some players have pivoted towards non-property lines of business as appetite for catastrophe-exposed property risk has diminished on the back elevated catastrophe activity...
Posted: Sep 19, 2023
Global insurance brokerage HUB has successfully completed a substantial minority investment from Leonard Green & Partners, L.P. (LGP), along with several other prominent institutional minority investors. HUB had previously announced the deal w...
Posted: Sep 19, 2023
Skyward Specialty Insurance Group, Inc. is set to expand its coverages in the healthcare sector, by adding a new solution that will cater to the needs of E&S individual providers, including physicians. As the healthcare landscape continues to...
Posted: Sep 19, 2023
Global ratings agency AM Best has revised its outlook for the U.S. homeowners segment to negative from stable, citing the deterioration of underwriting results, rising loss costs, inflation, firm reinsurance market conditions, and the retreat from...
Posted: Sep 18, 2023
Insurtech Descartes Underwriting has announced the appointment of Ola Jacob to the role of UK & Ireland Business Development Director. The insurtech is structured as a managing general agency (MGA) specialised in parametric and data-driven ris...
Posted: Sep 18, 2023
Aon has joined the International Emissions Trading Association (IETA) as the first member with risk capital capabilities. The IETA is a non-profit organisation that sets out to establish an international framework for trading in greenhouse gas emi...
Posted: Sep 18, 2023
Everest Insurance, the insurance division of Everest Group, has launched a dedicated US Wholesale and Programs Division to serve the distinct and evolving needs of this market. According to the announcement, the Division comprises specialised whol...
Posted: Sep 18, 2023