Reinsurance News
Aon has announced the appointment of James Fogarty as global head of marine for its Reinsurance Solutions business, as it launches advisory board. In this new role, based in New York, Fogarty will be responsible for the re/insurer’s global network...
Posted: Aug 03, 2023
Selective Insurance Group has posted $1,084 billion in net premiums written for the second quarter of 2023, representing a 17% increase from $930.7 million from the previous year’s quarter. The firm also recorded a 100.2% combined ratio for...
Posted: Aug 03, 2023
Markel Group Inc. has reported a return to profit for the second quarter and half year periods of 2023, while its combined ratio of 93% for the quarter deteriorated somewhat from the 91% seen a year earlier, which the firm attributes to a higher a...
Posted: Aug 03, 2023
Amynta, a global distributor of insurance products and services, has appointed John Mattioli as the new leader of Canada for Amynta Surety Solutions. In his new role, Mattioli will lead the build out of surety operations in the Canadian market, ba...
Posted: Aug 03, 2023
Argenta Syndicate Management Limited (ASML), a subsidiary of Argenta Holdings Limited, has announced the appointment of Philip Hancock as the new head of engineering and construction, effective immediately. Based in London, Hancock will report to...
Posted: Aug 03, 2023
In a recent study conducted by Conning, it has been revealed that Managing General Agents (MGAs) in the U.S. property-casualty (P&C) insurance sector experienced remarkable growth in 2022, outpacing the broader P&C market. The study indica...
Posted: Aug 03, 2023
Global risk services firm, Applied Surety Underwriters, and SiriusPoint Ltd. have entered into an exclusive partnership aimed to maximize their joint impact in major markets across the world. Both firm’s will start with North America to deli...
Posted: Aug 03, 2023
The Ardonagh Group has completed its acquisition of broker Classicus, marking a continued effort to build on its specialist capabilities and platform for growth in the Netherlands and across Europe. Headquartered in Amsterdam, Classicus provides a...
Posted: Aug 03, 2023
When renewing its outwards reinsurance for its property portfolio at the mid-year renewals, Bermuda-based AXIS Capital avoided raising the attachment point on its excess of loss occurrence cover. For its insurance property book of business, AXIS r...
Posted: Aug 03, 2023
Specialty insurer Palomar Holdings has published its second quarter 2023 results reporting a net income of $17.6 million, a 25.4% increase in gross written premiums and a combined ratio of 79.0%. This first quarter the company’s net income was up...
Posted: Aug 03, 2023
The global InsurTech sector witnessed a substantial decline in new funding during the second quarter of 2023, amounting to $916.71 million, marking a 34.0% drop from the impressive $1.39 billion recorded in the preceding quarter, according to the...
Posted: Aug 03, 2023
International specialty insurance firm, Ryan Specialty Holdings, Inc., has announced the appointment of Francesca Cornelli, Dean of Northwestern University’s Kellogg School of Management, to its Board of Directors, where she will also serve...
Posted: Aug 03, 2023
American Financial Group, Inc. (AFG) has reported a net income of $200 million for the second-quarter of 2023, compared to $167 million in Q2 2022. In Q2, AFG’s net earnings included after-tax non-core net realized losses on securities of $1 milli...
Posted: Aug 03, 2023
The Board of insurtech Vesttoo has revealed that Yaniv Bertele, Chief Executive Officer (CEO) and Alon Lifshitz, Chief Financial Engineer will be on paid leave as it considers removing the pair as the investigation into fraudulent activity continu...
Posted: Aug 03, 2023
Zurich-based catastrophe insurance data provider PERILS AG has released its third industry loss estimate for the late January floods across the North Island of New Zealand, pegging the total at NZ $1.995 billion. According to PERILS, the updated i...
Posted: Aug 03, 2023
Corebridge Financial, one of the largest providers of retirement solutions and insurance products in the US, has entered into a definitive agreement to sell its subsidiary, Laya Healthcare Limited (Laya Healthcare), to AXA for a total consideratio...
Posted: Aug 03, 2023
The Hanover Insurance Group has recorded a net loss of $69.2 million in the second quarter of 2023, compared to net income of $22.7 million in the prior-year quarter. Operating loss for the quarter was $68.3 million, compared to operating income o...
Posted: Aug 03, 2023
Enstar Group Limited has disclosed Q2 net earnings of $21 million, up substantially compared to a net loss of $434 million in the same period last year. Combined with Q1, net earnings for the first half a year now stand at $445 million, much impro...
Posted: Aug 03, 2023
Bermuda-based SiriusPoint Ltd. has announced a Q2 2023 consolidated combined ratio of 81.9%, showing almost a 14% improvement year over year, as consolidated underwriting income rose from $38.8 million to $127.3 million. On a core basis, non-GAAP...
Posted: Aug 03, 2023
Transatlantic Holdings, Inc. (TransRe), a wholly owned subsidiary of Alleghany Corporation, a Berkshire Hathaway company, has announced the promotion of several leaders to new roles. In Underwriting, John Fugit has been promoted to Deputy CUO for...
Posted: Aug 03, 2023
Ledgebrook, a tech-enabled E&S managing general agent (MGA), has announced the additions of Nicole Kessler and James Lassiter to its executive team. Kessler has been appointed as Vice President – Head of Excess Casualty. In her new role,...
Posted: Aug 03, 2023
Greenlight Re has reported that net income in Q2 was $49.9 million, up from $14.8 million in the same quarter last year, while gross premiums written increased 15% to $154.9 million. According to Greenlight Re, the $20.2 million increase in GWP re...
Posted: Aug 03, 2023
French insurer AXA has today announced a year-on-year rise in total gross written premiums (GWP) and other revenues of 2% to €55.7 billion for the first half of 2023, driven by 7% growth at AXA XL, its property and casualty (P&C) and specialty...
Posted: Aug 03, 2023
Following the recent news that Prudential Financial, Inc., has entered into an agreement to reinsure $12.5 billion of in-force guaranteed universal life policies with Somerset Re, Fitch Ratings has confirmed that it views the announcement as being...
Posted: Aug 03, 2023
Aon Denmark, part of the global re/insurance broker, has announced the appointment of Carsten Christoffersen as its new Chief Executive Officer (CEO). Christoffersen is set to take on his new role in October 2023. He will be succeeding Allan Karls...
Posted: Aug 03, 2023