Reinsurance News
Juan Andrade, the President and Chief Executive Officer (CEO) of Bermuda-based re/insurer Everest Group, feels that the current reinsurance market is now firmer that it was following the impacts of hurricane Andrew in 1992, as the firm continues t...
Posted: Jul 27, 2023
Risk Strategies, a specialty insurance brokerage and risk management firm, has acquired Castle Rock Capacity, a full-service property & casualty (P&C) insurance broker with expertise in the construction, real estate and development industr...
Posted: Jul 27, 2023
Bermuda-based reinsurer RenaissanceRe’s Chief Executive Officer (CEO), Kevin O’Donnell, believes that higher rates will persist in the property catastrophe market. Speaking recently during the reinsurer’s Q223 results earnings call, O’Don...
Posted: Jul 27, 2023
An undisclosed pension scheme has insured the remaining benefits of its defined benefit scheme with Canada Life in a transaction of £58 million, following a competitive tender process run by pensions and financial services consultancy Hymans Rober...
Posted: Jul 27, 2023
Goosehead Insurance has disclosed that net income in Q2 was $7.2 million, a vast improvement from $2.4 million in the same quarter last year, which the firm said is due to strong revenue growth and expense discipline. Goosehead’s Total Reven...
Posted: Jul 27, 2023
Large global insurer American International Group (AIG) has announced that the current Chief Executive Officer (CEO) of its reinsurance arm, Christopher Schaper, will take on the role of Global Chief Underwriting Officer (CUO) at AIG following the...
Posted: Jul 27, 2023
In the earnings call held yesterday, Conduit Re’s CEO Trevor Carvey shared insights into the company’s risk management strategy, shedding light on their consideration of cat bonds as an additional layer of protection. Carvey stated tha...
Posted: Jul 27, 2023
Worldlink Specialty, part of the OneGlobal insurance broking group, has announced that with effect from August 1, 2023, John Songin is joining as President and Chief Underwriting Officer. Worldlink Specialty describes Songin as a “well-known...
Posted: Jul 27, 2023
Re/insurance broker WTW has posted 7% organic revenue growth for the second quarter of 2023, as total revenues increased by 6% to $2.16 billion. WTW saw net income decline by 16%, from $114 million to $96 million, while income from operations rose...
Posted: Jul 27, 2023
Consilium, a prominent international (re)insurance broker and a part of the esteemed $1.5 billion Aventum Group, has recently announced that it has been granted a coveted license by the Cayman Islands Monetary Authority (CIMA). This development ma...
Posted: Jul 27, 2023
Specialist insurer Beazley has reported robust growth in the first half of 2023, reporting a 13% increase in gross premiums written (GPW) to $2.9 billion. Alongside strong GPW growth, Beazley has announced a significant rise in net premiums writte...
Posted: Jul 27, 2023
Percayso Inform, an insurance data intelligence provider, has announced a second major investment in its fast-growing business with a £2.7 million fundraise led by industry veteran Neil Utley, and its existing venture capital investor, Praetura Ve...
Posted: Jul 27, 2023
Global re/insurer Chubb and HealthAtom, a Chilean healthtech, have announced an alliance to offer comprehensive dental healthcare in Latin America. Through the alliance, individual clients and corporate groups will have access to completely digita...
Posted: Jul 27, 2023
As the digital landscape continues to accelerate, cybersecurity threats continue to evolve and have raised the prominence of the cyber insurtech, reflecting an innovative intersection of cyber security technologies and cyber insurance solutions, a...
Posted: Jul 27, 2023
Bermuda headquartered re/insurer Arch Capital Group Ltd. has reported strong growth in its reinsurance business in the second-quarter of 2023, as the segment’s underwriting result improved by 75% to $245 million with a combined ratio of 81.9...
Posted: Jul 27, 2023
French reinsurer SCOR has reported an improved Q2 P&C combined ratio of 88.5%, down from 113.1% in the same quarter last year, while net income generated was up at €192 million. The net income figure implied an annualised ROE of 16.9% in Q2 20...
Posted: Jul 27, 2023
Bermuda-based global specialty insurer and reinsurer, SiriusPoint Ltd., has announced the appointment of Habib Kattan as Global Head of Ceded Reinsurance. Kattan will be based in London and his appointment is effective on August 1, 2023. Kattan wi...
Posted: Jul 27, 2023
Bermuda based insurer and reinsurer Everest Group has reported gross written premiums (GWP) growth of 26.9% to almost $2.8 billion in its reinsurance segment in Q2, which is a new quarterly premium record for the segment. Growth within the reinsur...
Posted: Jul 27, 2023
Nsure.com, America’s leading digital insurance agency, has secured a strategic investment from Pelican Ventures, a private investment firm known for supporting visionary entrepreneurs in the insurance industry, with the exact amount undisclo...
Posted: Jul 27, 2023
Through a combination of various measures, the use of captive insurers is rising across the board, as risk-funding vehicles that offer numerous advantages, interest in using captives is said to be higher than ever. Within the past several years, M...
Posted: Jul 27, 2023
Industry sources have told Reuters that they believe airlines could end up paying twice as much for the insurance they need to protect themselves against losses triggered by war as providers of coverage look to offset recent losses. The recent con...
Posted: Jul 27, 2023
Kevin O’Donnell, the Chief Executive Officer (CEO) of Bermuda headquartered reinsurer RenaissanceRe, expects losses related to severe convective storms (SCS) in the U.S. during the second-quarter of 2023 to approach $30 billion. Speaking recently...
Posted: Jul 26, 2023
China Reinsurance Group (China Re), the country’s largest reinsurance firm, launched its digital transformation strategy in Beijing on Tuesday, making arrangements for the group’s transition in the coming five years. The company put fo...
Posted: Jul 26, 2023
In the first half of 2023, Conduit Re’s pricing levels and favourable terms and conditions improved significantly, driving increased interest from potential clients and presenting promising avenues for expansion. An essential factor contribu...
Posted: Jul 26, 2023
Insurance brokerage HUB has appointed Blake Giannisis as North American Property Practice Leader. In his new role, Giannisis will lead the further development of HUB’s property insurance practice, manage key market and wholesale partner rela...
Posted: Jul 26, 2023