Reinsurance News
Allianz Commercial has announced the promotion of two distribution experts as part of its UK strategy; Mike Thomas and Andy Montgomery. From 1 September 2023 the newly formed UK Distribution function led by Nick Hobbs – whose appointment was...
Posted: Jul 28, 2023
Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs), has joined the Amazon Web Services (AWS) Cyber Insurance Partner Initiative. As an AWS Cyber Insurance Partner, Cowbell’s solution has been vetted by AWS f...
Posted: Jul 28, 2023
Insurtech Concirrus has partnered with Insurity, a provider of cloud-based software for insurance carriers, brokers, and MGAs to develop and deliver predictive data models for enhanced cargo risk management and pricing insights. London-based Conci...
Posted: Jul 28, 2023
Insurance and reinsurance broker Aon has announced that its M&A and Transaction Solutions unit has further grown its Advisory Board with the appointment of Stephen Trauber. Prior to this, Trauber was Citi’s Vice Chairman and Global co-head of...
Posted: Jul 28, 2023
Universal Insurance Holdings has reported a Q2 2023 combined ratio of 99.1%, 1.8 points lower than in Q2 2022 which stood at 100.9%. For the quarter, the combined ratio consists of a 73.5% loss ratio and a 25.3% expense ratio, compared with 72.3%...
Posted: Jul 28, 2023
Reinsurance giant Munich Re has reported overall losses from natural disasters of $110 billion for the first half of 2023, with the insured loss from these events amounting to $43 billion. It is noteworthy that the first half of 2023 is a continua...
Posted: Jul 28, 2023
AM Best has announced a positive revision in the outlooks and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) for Lloyd’s, its subsidiaries, and Society of Lloyd’s...
Posted: Jul 28, 2023
Thomas Miller Specialty (TMS Marine), a leading fixed premium P&I writer, has appointed Helge Volger, Managing Director and CEO of TMS GmbH, to the role of Chief Underwriting Officer. According to the announcement, the move follows a thorough...
Posted: Jul 28, 2023
Global broker Aon’s Reinsurance Solutions arm achieved organic revenue growth of 9% in the second quarter of 2023, as revenue across the group increased by 5%, year-on-year, to $3.2 billion, reflecting organic revenue growth of 6%. This growth in...
Posted: Jul 28, 2023
Global insurance and reinsurance broker, Arthur J. Gallagher & Co., has reported net earnings of $235.8 million for the second quarter of 2023, compared with $285.1 million a year earlier. Gallagher’s Company-wide, adjusted net earnings...
Posted: Jul 28, 2023
MAPFRE RE, the reinsurance arm of Madrid-headquartered insurer MAPFRE, has reported that premiums, which include the reinsurance and large risks business, grew 11.5% in H1 of 2023 surpassing €4.1 billion. The reinsurer also reported €140 million i...
Posted: Jul 28, 2023
Corinthian Group, the specialty non-catastrophe focused collateralized P&C reinsurance firm, has said that it could take quite some time to resolve any criminal investigation into the Vesttoo collateral issue, and that while the exact details...
Posted: Jul 28, 2023
Corinthian Group, the specialty non-catastrophe focused collateralized P&C reinsurance firm, has said that it could take quite some time to resolve the Vesttoo collateral issue, and that while the exact details surrounding allegedly fraudulent...
Posted: Jul 28, 2023
Cincinnati Financial Corporation has posted a net income of $534 million for the second quarter of 2023, a substantial rise compared with the $818 million net loss the company recorded in the second quarter of 2022. The rise comes in addition to t...
Posted: Jul 28, 2023
Looking past the transformative potentials that artificial intelligence (AI) possesses for the re/insurance industry, one major factor still remains: peoples need for risk transfer and mitigation solutions. AI technology may be able to enable new...
Posted: Jul 28, 2023
Fronting and program specialist Clear Blue Insurance Group has released a statement affirming that it remains “singularly focused on resolving all issues related to certain invalid letters of credit,” and is working quickly to ensure t...
Posted: Jul 28, 2023
QBE North America has announced the launch of a new cyber insurance program with Converge, a new managing general agent (MGA) that will act as program administrator. The program will be broken down into two separate distribution structures, Conver...
Posted: Jul 28, 2023
RenaissanceRe’s (RenRe) acquisition of Validus Re and all its subsidiaries from global player AIG is on track, according to Bob Qutub, Chief Financial Officer (CFO) of the Bermuda headquartered re/insurer. With this move, RenRe aims to becom...
Posted: Jul 28, 2023
H.W. Kaufman-owned entity, Atain Insurance Companies has announced the appointment of Barbara Habel as Vice President and Head of Excess Casualty. Based in Phoenix, Arizona, Habel will report to Linc Trimble, Chief Underwriting Officer (CUO) at At...
Posted: Jul 28, 2023
Marsh, the world’s leading insurance broker and risk advisor, announced the appointment of Charles Williamson as the new Chief Executive Officer (CEO) of Victor, its prominent global managing general underwriting business. Effective August 1...
Posted: Jul 28, 2023
Tysers, an independent Lloyd’s broker, and member of the AUB Group, is launching a new global division dedicated to serving the needs of the global entertainment industry. The new initiative -Tysers Live, sees offerings in Music, Theatre, Li...
Posted: Jul 28, 2023
Aspen Insurance Holdings Limited has announced the appointment of Caryn Brough as Head of US Distribution, in addition to her current role as Group Head of Marketing. Brough, who has been with Aspen since 2017, has been instrumental in driving sig...
Posted: Jul 28, 2023
With climate change and growing inflation as a backdrop, the opportunity in property insurance is expected to be a long-term one with pricing more adequate than in property reinsurance, said Beazley CEO Adrian Cox. Speaking earlier during the spec...
Posted: Jul 27, 2023
US primary holding company Donegal Group posted a net income of $2.0 million, compared to a net loss of $8.2 million in the prior year quarter. Net premiums earned increased 5.9% to $216.3 million, compared to $204.1 million from Q2’22. At t...
Posted: Jul 27, 2023
Vesttoo’s issues with allegedly fraudulent letters of credit (LOC) highlight the importance of sound counterparty risk practices for insurers, suggests DBRS Morningstar. Citing various media reports, DBRS Morningstar has said that the allege...
Posted: Jul 27, 2023