Reinsurance News
SiriusPoint has announced its new partnership with Stockholm-based Nordic Marine Insurance (Nordic Marine), which will primarily focus on writing Hull & Machinery (H&M), Yacht Owners Charter Cancellation and Marine Delay business. Founded...
Posted: Sep 18, 2023
Charles Taylor Adjusting, an international loss adjusting firm, has appointed Alan Page as Executive Adjuster – Construction and Engineering, where he will be based in Brisbane, Australia. An experienced veteran, Page brings over 20 years of exper...
Posted: Sep 18, 2023
The Dubai International Financial Centre (DIFC) has granted several licenses to insurance and reinsurance firms in recent months, with the sector on track for 20% year-on-year growth. In the first half of the year, gross written premiums rose 18%...
Posted: Sep 18, 2023
Bermuda-based insurers and reinsurers might well be set for a more positive future after some challenging years, but solid underwriting discipline, effective risk selection strategies, and prudence in claims / reserve management will be key, accor...
Posted: Sep 18, 2023
Heading into the key January 1st, 2024, reinsurance renewals, pricing, terms and conditions (T&Cs), and structures of reinsurance treaties will remain broadly unchanged, says Berenberg. Analysts met with a mix of reinsurers, brokers and a rati...
Posted: Sep 18, 2023
Sompo International, a global provider of commercial and consumer property and casualty re/insurance, has appointed Eric Herbelin as Country Manager Insurance, Switzerland. Herbelin brings over 20 years of senior leadership and international manag...
Posted: Sep 18, 2023
Primary insurer QBE has announced that it has launched a cyber offering in the Middle East as part of its global cyber growth strategy. According to the firm, the new offering forms part of QBE’s International Markets portfolio. At the same time,...
Posted: Sep 18, 2023
The pace of rate rises in the property catastrophe reinsurance market is likely to ease in 2024, following the rate adequacy achieved now that hard market conditions have developed in 2023; yet it is likely to take a number of years before this ma...
Posted: Sep 18, 2023
B.P. Marsh has noted it “continues to see a high number of potential new business opportunities” having received 42 new business enquiries as of the end of July 2023, compared to 33 enquiries for the same period in the preceding year....
Posted: Sep 18, 2023
Global advisory firm Teneo has announced a series of new hires to bolster its international insurance advisory practice. This includes two new Senior Managing Directors in Mark Allitt and Michael Tagg who both joined from KPMG in the summer. Allit...
Posted: Sep 18, 2023
Morgan Stanley remains bullish on the reinsurance sector, and expects durable pricing, stable capital positions, and solid book value growth to support the share price performance of companies in 2024. Uncertainty around the remainder of the hurri...
Posted: Sep 18, 2023
Dale Underwriting Partners (Dale), the trading name for Dale Managing Agency Limited’s Lloyd’s Syndicate 1729, has entered into a strategic partnership with CVC, a leading global private markets manager with €161 billion of assets under management...
Posted: Sep 18, 2023
Colonial Surety Company, a direct and digital insurer, has announced the appointment of Kevin Grzelak as its Chief Financial Officer (CFO), where he will lead strategic expansion initiatives. In his new role, Grzelak assumes responsibility for ass...
Posted: Sep 18, 2023
Secondary perils have dominated 3Q23 and 2023YTD, causing secondary-type losses in larger numbers compared to any of the major peak catastrophe zones, according to JP Morgan analysts. Atlantic hurricane season is always the key headline for the re...
Posted: Sep 18, 2023
A recent Moody’s report highlights the record level of issuance seen in the catastrophe bond market during the first half of the year, which at $10.3 billion, is expected to drive future growth in the insurance-linked securities (ILS) asset class....
Posted: Sep 18, 2023
Climate Risk Partners (CRP), a climate risk strategy start-up, has announced its integration into Climate Commodities (CC), a climate economy-focused platform with operating companies in physical trading, mineral processing and refining, transport...
Posted: Sep 18, 2023
French reinsurer SCOR’s recently announced new strategic 2024-2026 plan is reasonably ambitious and could see the firm return to profitability levels in the medium term, according to Fitch Ratings. In early September, SCOR revealed a new pla...
Posted: Sep 18, 2023
Going into 2024 – and with the hard market expected to remain – retentions are going to be vital, particularly in the programme space, according to Shevawn Barder, Chief Executive Officer (CEO) and Principal of AM RE and AM Specialty I...
Posted: Sep 15, 2023
Global specialty insurer and reinsurer SiriusPoint has named Stephen Smyth as Head of Marine in London. Smyth is set to join the firm on October 16th and will be the Active Underwriter for Syndicate 1945, subject to Lloyd’s approval. He is also ta...
Posted: Sep 15, 2023
Sayata, a marketplace for insurance brokers and carriers, has announced the addition of Manny Johl to the Carrier Relations department as Head of Partnerships. In his new role, Johl will drive initiatives to bring in and onboard new carrier partne...
Posted: Sep 15, 2023
Ryan Transactional Risk (RTR), a specialist in transactional risk insurance and loss mitigation evaluation services, has announced the appointment of Jenny Wong as Vice President, North American Tax Insurance. Based in New York, she will take on a...
Posted: Sep 15, 2023
While premiums grew for the U.S. P&C insurance sector in the first half the year, carriers continued to report significant underwriting losses, and the segment will be “hard pressed” to match the 102.8% combined ratio posted in ful...
Posted: Sep 15, 2023
The adoption of artificial intelligence (AI) in the insurance sector is rapidly transforming various facets of the industry, from underwriting to claims management and customer engagement. AI holds the promise of improved services, efficiency gain...
Posted: Sep 15, 2023
Specialty insurance brokerage and risk management firm, Risk Strategies is set to consolidate its independent captives group under the Risk Management Advisors (RMA) brand, in a move that merges Atlas Insurance Management into the RMA brand and op...
Posted: Sep 15, 2023
US-based insurer Kemper Corporation has appointed Bradley T. Camden, its Senior Vice President and Treasurer, as Interim Chief Financial Officer (CFO) effective immediately. In the role, Camden will report to Joseph P. Lacher, Jr., Kemper’s Presid...
Posted: Sep 15, 2023