Reinsurance News
Florida is facing a significant hurricane threat this week, as tropical storm Idalia is forecast to become hurricane Idalia later today, before then heading over extremely warm Gulf waters towards Florida’s coast where the NHC forecast it co...
Posted: Aug 28, 2023
With more frequent intense floods predicted for the future, residents in western US states need to consider flood insurance, urges Moody’s, as it highlights the region’s low flood insurance penetration rates in a recent report. According to the re...
Posted: Aug 25, 2023
With more frequent intense floods predicted for the future, residents in western US states need to consider flood insurance, urges Moody’s, as it highlights the region’s low flood insurance penetration rates in a recent report. According to the re...
Posted: Aug 25, 2023
In the aftermath of Hurricane Hilary’s unprecedented impact on the western United States and Mexico, the region is grappling with significant economic and insured losses that could potentially soar into the hundreds of millions of USD, accor...
Posted: Aug 25, 2023
R&Q Insurance Holdings Ltd. and Obra Capital, Inc., have appointed Kevin Cooke as Chief Executive Officer of Mine Safety Appliances Company, LLC (MSAC). According to the announcement, in his role as CEO, Cooke will hold responsibility for the...
Posted: Aug 25, 2023
In a marked shift of sentiment, capital markets are displaying renewed interest and confidence in the specialty (re)insurance industry, as evidenced by a recent analysis conducted by the International Capital Market Review (ICMR). Following a tumu...
Posted: Aug 25, 2023
S&P Global Ratings has warned Chinese investors about the setbacks of recent extreme rain in Beijing. The city has received the heaviest rain in 140 years, which analysts say serves as a reminder to the country’s property and casualty (P...
Posted: Aug 25, 2023
Canada Life Re, a provider of reinsurance solutions for life and health, has agreed a long-term funding arrangement with Spry Finance, which is set to re-finance the the Irish-owned company’s existing loan book and provide funding of up to €...
Posted: Aug 25, 2023
Alpha FMC, the leading global consultancy to the asset management, wealth management and insurance industries, strengthens North American insurance consulting with the appointment of Keval Mehta as Executive Director and Insurance Technology Leade...
Posted: Aug 25, 2023
In a study involving hundreds of prominent insurance leaders, Waterstreet has revealed a compelling vision of the future of insurance, shedding light on the transformative impact of insurtech innovations, artificial intelligence (AI), machine lear...
Posted: Aug 25, 2023
As pricing for natural catastrophe business has been, for the most part, loss-making in recent years, even the strongest global reinsurers have now pulled back from the space via tightening terms and conditions (T&Cs) in an effort to move high...
Posted: Aug 25, 2023
Cytora, an AI-powered digital risk platform, has expanded its global advisory board by welcoming several insurance industry veterans to its advisory board, in a move that is set to support Cytora’s global growth. According to Cytora, the gro...
Posted: Aug 25, 2023
In recent analysis, Berenberg classes Munich Re as the best placed to withstand major hurricane losses, despite the reinsurer typically taking the greatest share of hurricane losses as it remains the most geared to the hard reinsurance market. Ana...
Posted: Aug 25, 2023
Insurance and reinsurance broker Aon’s digital insurance platform, CoverWallet, has announced a strategic collaboration with the commercial trucking insurance provider and insurtech, Cover Whale Insurance Solutions, Inc. The collaboration ai...
Posted: Aug 25, 2023
Argo Group International Holdings, Ltd. has announced the appointment of Greg Chilson as President of Argo Surety, effective September 1st, 2023. Chilson has been serving as a Strategic Advisor since May and will report to Jessica Snyder, Argo’s P...
Posted: Aug 25, 2023
CNA Hardy, a specialist commercial insurance provider within the Lloyd’s and company markets, has made three new senior underwriter appointments and a senior underwriter internal promotion to its UK Marine team. Trevor McAuley has been appointed a...
Posted: Aug 25, 2023
Fitch Ratings expects reinsurance property market hardening to persist into the January 2024 renewals and beyond, although expects a deceleration when compared with 2023 as analysts feel that rate adequacy has generally been reached. The condition...
Posted: Aug 24, 2023
AXIS Capital Holdings has announced the establishment of an Inland Marine unit, led by industry veteran Kristen Hunter, as part of its strategic expansion of specialty offerings and capabilities in North America. Hunter, with an impressive track r...
Posted: Aug 24, 2023
Global ratings agency AM Best has underscored the importance of innovation amid a widening protection gap (disparity between economic and insured losses post-event) driven by climate trends and emerging risks. 2022 was another year of above-averag...
Posted: Aug 24, 2023
Sompo International, a provider of commercial and consumer property and casualty re/insurance, has hired Angela Weiss as Head of Property & Energy Insurance for Continental Europe. Her appointment is effective from September 1, 2023. In the ro...
Posted: Aug 24, 2023
“Catastrophe risk appetite continues to vary, with more than half of the top 20 global reinsurers maintaining or reducing their natural catastrophe exposures during the January 2023 renewals, despite the improved pricing terms and conditions...
Posted: Aug 24, 2023
World Insurance Associates LLC has announced that funds advised by Goldman Sachs Asset Management, via its private equity and hybrid capital teams, have entered into a definitive agreement to make a major investment in the company. Goldman Sachs,...
Posted: Aug 24, 2023
Rising pension funding ratios drive unprecedented demand in the Pension Risk Transfer (PRT) market, with record transactions in the first half of 2023 in the US and UK, according to a recent report by Legal & General. The latest edition of the...
Posted: Aug 24, 2023
Stonybrook Capital has announced the completion of a Senior Secured Credit Facility for DryStone Capital Corporation, which allows DryStone to further expand profitable specialty P&C programs with quality MGAs. DryStone successfully raised a s...
Posted: Aug 24, 2023
In a reassuring turn of events, the mid-year results for global non-life reinsurers in 2023 have showcased robust underwriting profits, according to Fitch Ratings. The 18 non-life reinsurers under Fitch’s scrutiny have collectively achieved...
Posted: Aug 24, 2023