Reinsurance News
In a recent report, Fitch Ratings has warned that the increasing premiums and reduced availability of homeowners’ property insurance in California and Florida could have far-reaching effects on housing markets, development activities, overal...
Posted: Sep 08, 2023
Palomar Holdings has appointed Brian Pushic as Vice President, Casualty Underwriting, and Head of Environmental effective immediately. Pushic’s remit in the role will include being responsible for launching the Company’s Environmental practice, al...
Posted: Sep 08, 2023
The Hanover Insurance Group, Inc. has announced key leadership changes to strengthen its specialty property and casualty programs division, with Stephanie E. Seibold appointed as President of Alternative Markets and Arthur J. Barrett taking on the...
Posted: Sep 08, 2023
With the annual Rendez-Vous de Septembre (RVS) event in Monaco set to return shortly, Reinsurance News recently spoke to Pete Chandler, BMS Re’s Chief Executive Officer, US, about what the firm expects to see at this year’s event. He e...
Posted: Sep 08, 2023
Insurance Quantified, a commercial P&C underwriting technology provider, has appointed Jeremy Johnson as the company’s latest Strategic Advisor. He joins David Siegel, David Michelson, Edward Sweeney, and John “Jay” Nichols o...
Posted: Sep 08, 2023
Financials Acquisition Corp has established London Innovation Underwriters Limited (LIU) in order to implement its strategy of becoming “a listed operating company deploying funds into the Lloyd’s of London insurance market.” Acc...
Posted: Sep 08, 2023
The global insurance industry is grappling with an unprecedented challenge as the annual average loss from natural catastrophes reaches a staggering $133 billion, according to the latest findings from Verisk’s extreme event solutions models....
Posted: Sep 08, 2023
IVANS, a division of Applied Systems, has reported an increase in the average premium renewal rate change across all major commercial lines of business year over year in August. According to IVANS Index, August experienced an increase in average p...
Posted: Sep 08, 2023
Private specialty insurance group Coaction Global, Inc (Coaction) has announced the successful completion of a significant capital raise totaling approximately $200 million. The infusion of equity is aimed at bolstering the company’s expansi...
Posted: Sep 08, 2023
Insurance brokerage Brown & Brown has announced the promotion of Mike Bruce to chief executive officer of Brown & Brown Europe. Bruce was formerly the chief executive officer of Global Risk Partners (GRP), which was acquired by Brown &...
Posted: Sep 08, 2023
Prudential Financial, Inc. and Warburg Pincus have announced the launch of Prismic Life Reinsurance, Ltd, a licensed Class E Bermuda-based life and annuity reinsurance company. A group of global investors, along with Prudential and Warburg Pincus,...
Posted: Sep 08, 2023
In a groundbreaking move this week, the Federal Emergency Management Agency (FEMA) unveiled the designation of Community Disaster Resilience Zones (CDRZ), a strategic initiative set to catalyse a transformative shift in resilience funding. These z...
Posted: Sep 08, 2023
German insurer Allianz has published its first net-zero transition plan committing to reduce emissions as part of a plan that aims for net-zero in 2050 in its proprietary investment and Property and Casualty (P&) underwriting portfolios and by...
Posted: Sep 08, 2023
Sompo International has appointed Carlos Ortega as Head of Casualty Insurance, Iberia. The role will be based in Madrid and Ortega will report to Jamie Cañellas, Country Manager, Insurance, Iberia. Ortega is an industry expert who joins Sompo Inte...
Posted: Sep 08, 2023
Marsh McLennan has announced the appointment of Nick Harris as the Chief Executive Officer of UK Retail, Marsh. The appointment is subject to regulatory approval and is effective starting January 1st, 2024. Simultaneously, Ailsa King has been name...
Posted: Sep 08, 2023
Insurance Europe, the European insurance and reinsurance federation, has welcomed the European Commission proposal to improve the availability, integrity and transparency of environmental, social and governance (ESG) rating activities. According t...
Posted: Sep 08, 2023
In response to the ongoing crisis in California’s homeowners insurance market, the Reinsurance Association of America (RAA) has released a comprehensive white paper offering insights and recommendations to address the challenges posed by wil...
Posted: Sep 08, 2023
In a recent report, Fitch Ratings anticipates a significant surge in capital availability within the global reinsurance industry, a trend that is expected to culminate in a softening of rates by the year 2025. According to Fitch, traditional reins...
Posted: Sep 08, 2023
DGTAL, a Software-as-a-Service (SaaS) platform providing artificial intelligence (AI) powered audit and tools for insurance portfolios, has secured strategic funding of €3m to facilitate the scaling of its pathbreaking technology. 1750 Ventures, t...
Posted: Sep 08, 2023
LCP’s seventh annual analysis of Solvency II reporting has revealed that the financial strength of the UK and Ireland’s largest non-life insurers remains robust, with the average eligible own funds ratio standing at 180%. The report in...
Posted: Sep 08, 2023
Joe Fitzgerald has been appointed as the Global Head of Casualty Reinsurance for Claims at Aspen Insurance Group, part of Bermuda-based re/insurer Aspen Insurance Holdings Limited. The role change was effective starting August of this year. Fitzge...
Posted: Sep 07, 2023
On the back of an impressive year of rate taking and improving terms and conditions (T&Cs), global insurer and reinsurer Everest expects property market conditions to persist well into next year and potentially into 2025, according to Jim Will...
Posted: Sep 07, 2023
Andy Marcell, the Chief Executive Officer (CEO) of Aon’s Reinsurance Solutions, has stressed that clients will be looking for stability and closer relationships with reinsurers heading into the 2024 renewals, following tough renewals through...
Posted: Sep 07, 2023
Global insurance broker Acrisure has announced the acquisition of Modus Underwriting Ltd (Modus), an award-winning, technology driven, Managing General Agent (MGA). Modus is an insurance provider that unites traditional insurance disciplines with...
Posted: Sep 07, 2023
In a promising turn of events, the global reinsurance market is poised for a more orderly and predictable renewal season ahead of January 1, 2024. Aon’s Reinsurance Renewal Season 2023 report highlights the positive outlook, citing a strengt...
Posted: Sep 07, 2023