Reinsurance News
Re, the blockchain-powered reinsurer with the aim of building a decentralized global reinsurance market, has appointed James Norris as its new Chief Underwriting Officer (CUO). “We are excited to welcome James Norris, FCAS, CERA as our new C...
Posted: Jul 31, 2023
In a recent Q2 earnings call, Aon President Eric Andersen shed light on the shifting landscape of the reinsurance market and emphasised the increasing significance of facultative reinsurance in the second half of the year. Clients, faced with the...
Posted: Jul 31, 2023
Fidelis MGU has announced a 2030 decarbonisation target in support of its broader aims, with Richard Brindle, Group Chief Executive Officer and Chairman, describing it as a “meaningful step forward” in the firm’s climate change s...
Posted: Jul 31, 2023
Lockton, the world’s largest independent insurance broker, has announced the appointment of Shelley Wright as the new Head of UK Commercial Wholesale. Wright will be joining the team to work alongside David Lee, the current Head of UK Commer...
Posted: Jul 31, 2023
Chicago-based insurer CNA Financial Corporation has reported a 49% increase in net income, to $283 million, for the second quarter of 2023, which compares with $190 million reported in the prior year quarter. Core income for the quarter was $374 m...
Posted: Jul 31, 2023
Global insurer Chubb successfully renewed its global property catastrophe reinsurance program at the April renewal for its North American and International operations, as well as its terrorism coverage, with “no material changes in coverage...
Posted: Jul 31, 2023
Following the successful launch of its Next Gen platform, and with market adoption now proceeding, Placing Platform Limited (PPL) has announced the restructure of its senior management team to support the market’s digital journey. PPL has set out...
Posted: Jul 31, 2023
SiriusPoint’s Life Reinsurance Team has partnered up with insurance and healthcare technology platform WaterDrop, MGA and employee solutions provider Further Group, and China Pacific Health Insurance to launch a new medical insurance product...
Posted: Jul 31, 2023
Liz Garcia has joined Bermuda-based Aspen Insurance Group as Global Head of Property Reinsurance Claims, effective August 1. She joins Aspen from Fidelis MGU, where she served as Head of Claims Bermuda for close to three years. Prior to that, she...
Posted: Jul 31, 2023
Global property insurance pricing was up 10% on average in Q2 2023, the same as in Q1, according to Marsh’s Global Insurance Market Index. Marsh’s Index notes that average insurance pricing was relatively consistent across all regions...
Posted: Jul 31, 2023
Everest Insurance International, a division of Bermuda-based insurer and reinsurer Everest Group, Ltd., has announced some key leadership appointments, including Véronique Brionne as Insurance Head of Europe, effective September 28th, 2023. The co...
Posted: Jul 31, 2023
Aon has disclosed that it may be facing legal action over letters of credit (LOCs) related to the Vesttoo collateral investigation, though has noted that it has “meritorious defences” and intends to “vigorously defend itself̶...
Posted: Jul 31, 2023
Global property and casualty insurance company, Chubb, has announced the return of Ben Carey to its general insurance business as Head of Field Operations, Asia Pacific. The appointment will be effective in Q1 2024. The position is based in Singap...
Posted: Jul 31, 2023
Re/insurance brokerage Marsh McLennan has agreed to acquire ASPROSE Corredora de Seguros, S.A (Asprose), one of Costa Rica’s leading insurance brokers. The transaction, which terms have not been disclosed, is expected to close later in the third q...
Posted: Jul 31, 2023
A recent survey conducted by Sollers Consulting in collaboration with IPSOS reveals that insurance customers are far more open to sharing data than previously assumed by the industry. The study, which encompassed 3,800 insurance customers across t...
Posted: Jul 31, 2023
Cl0p’s MOVEit attacks have shone light on the cyber re/insurance industry’s blind spots, a recent report by cyber analytics firm CyberCube revealed. The global MOVEit MFT (Managed File Transfer) attack is an ongoing cybersecurity incident, led by...
Posted: Jul 31, 2023
Midwest Holding Inc. has announced that its shareholders have approved the previously announced merger agreement whereby an affiliate of international investment firm Antarctica Capital will acquire Midwest. At a special meeting of stockholders it...
Posted: Jul 31, 2023
Andreas Berger, Chairman of the International Insurance Society’s (IIS) Executive Council, has announced the appointment of 12 leading insurance executives to the IIS Executive Council. The appointments are effective from August 1, 2023. The...
Posted: Jul 31, 2023
The growing frequency and severity of convective storms across Southern US states has become an “evolving situation” for re/insurers, as these events are continently hindering insurers’ ability to achieve effective diversificatio...
Posted: Jul 31, 2023
International law firm Steptoe & Johnson LLP has bolstered its top-tier insurance and reinsurance practice with the addition of partner Michele Jacobson, senior counsel Robert Lewin, and counsels Beth Clark, Michele (Shelli) Pahmer, and Lisa P...
Posted: Jul 31, 2023
Within reinsurance, pressure remains on the capital side, but opportunities are there and as the market has shifted, it’s getting to an equilibrium around pricing property catastrophe risks, according to executives at re/insurance broker Aon...
Posted: Jul 28, 2023
Five insurance industry veterans have formed Modives, a new venture which automates insurance verification for property managers and auto dealers. CEO and Co-Founder Frederick Waite, a veteran entrepreneur, has assembled a team with varied insuran...
Posted: Jul 28, 2023
AXA, a worldwide leader within insurance and asset management, has announced the deployment of AXA Secure GPT- an internal service built on Microsoft’s Azure OpenAI Service. AXA’s in-house team developed AXA Secure GPT within three months, l...
Posted: Jul 28, 2023
A recent report by the Swiss Re Institute titled “What goes around comes around: Insuring the circular economy” highlights the challenges faced by the recycling industry in obtaining sufficient insurance cover, which is crucial for the...
Posted: Jul 28, 2023
Pen Underwriting has announced changes to its divisional structure to bring together core underwriting capabilities and expertise, for the benefit of its brokers, while orientating to execute its strategy of growth and diversification. As of 1 Aug...
Posted: Jul 28, 2023