Reinsurance News
Itasca Re, a Bermuda-licensed reinsurance company created by Castlelake, has provided Turkish Airlines reinsurance for aircraft non-payment insurance (ANPI) in respect of financial leasing of three A321neo aircraft to Turkish Airlines. According t...
Posted: Jul 26, 2023
RenaissanceRe (RenRe), the Bermuda headquartered global reinsurance firm and third-party capital management specialist, has reported raising $350.5 million of third-party capital largely for catastrophe bond strategies during the second-quarter of...
Posted: Jul 26, 2023
Martello Re Limited has appointed Eric Lloyd to the company’s Board of Directors, effective immediately. Lloyd replaces Michael Baumstein, who recently stepped down from the Board to join Martello Re full-time as Chief Investment Officer and...
Posted: Jul 26, 2023
The Federation of European Risk Management Associations (FERMA) is urging the Spanish Presidency of the Council of the European Union to make progress on the green and digital transitions a priority to help drive EU competitiveness and enhance str...
Posted: Jul 26, 2023
Augment, a recently launched reinsurance broker that offers bespoke solutions to its partners, has appointed Charlie Love as its Chief Financial Officer (CFO), as well as Henry Mikrut as Head of Rating Agency Advisory. In his role as CFO, Love wil...
Posted: Jul 26, 2023
Moody’s RMS risk models will now be available across Europe and Asia as Korean Re and the catastrophe risk modelling and solutions company have announced a new agreement to licence the products in these regions. These models include: Europe Inland...
Posted: Jul 26, 2023
Global advisory and broking company WTW has announced the launch of Climate Vista, a new engagement tool designed to help company boards and senior management better understand their exposure to ESG and climate-related risks and opportunities. Acc...
Posted: Jul 26, 2023
Insurtech Betterview has announced that EagleView’s high-resolution aerial imagery will be integrated into its property intelligence platform to help insurers “better understand a customer’s total property risk by providing broader, da...
Posted: Jul 26, 2023
CHL, the parent company of Conduit Re, a pure-play Bermuda-based reinsurance business, reported an 83.1% combined ratio for the six months ended 30 June 2023, a 22.7-point improvement from a year-ago period, as it expanded gross premiums written b...
Posted: Jul 26, 2023
Bermuda-based reinsurer RenaissanceRe Holdings Ltd. (RenRe) has announced a combined ratio (CR) of 80.3% for Q2 2023, with underwriting income of $352 million, a slight improvement on the $316 million reported a year earlier. Compared year-over-ye...
Posted: Jul 26, 2023
Despite seeing a drop, inflation is expected to impact European non-life insurers, yet S&P Global Ratings believe they will continue to perform robustly. European insurers are facing numerous challenges linked to economic growth, inflation, in...
Posted: Jul 26, 2023
Insurity, a leading provider of cloud-based software for insurance carriers, brokers, and MGAs, has released its highly anticipated 2023 Hurricane Guide, offering comprehensive best practices to help insurance organisations shift from a “rea...
Posted: Jul 26, 2023
Chubb has reported that Q2 net income jumped 50.7% to $1.79 billion compared to the same quarter last year, while P&C underwriting income was $1.43 billion with a combined ratio of 85.4%, in what Evan G. Greenberg, Chairman and Chief Executive...
Posted: Jul 26, 2023
Global ratings agency AM Best has placed the credit ratings of fronting and program specialist, Clear Blue Insurance Group, under review with negative implications, citing uncertainty around the firm’s ability to rely on certain letters of c...
Posted: Jul 26, 2023
In a recent analysis of ISO’s 1Q23 FastTrack private passenger auto loss data, industry experts have identified significant volatility in year-on-year severity changes and above-average trends in certain states as the primary drivers behind...
Posted: Jul 26, 2023
Obsidian Insurance Group has announced the promotions of Craig Rappaport to President, and Nick Dagenais to Chief Financial Officer (CFO). Previously, Dagenais was the VP, Finance of Obsidian since the company’s formation, he now assumes the...
Posted: Jul 26, 2023
Selective Insurance Group, Inc. expects a preliminary Q2 2023 combined ratio of 100.2%, which includes catastrophe losses of 10.6 points and net prior year favourable casualty reserve development of 0.4 points. The firm predicts pre-tax net catast...
Posted: Jul 26, 2023
Ivans, a division of Applied Systems, has reported renewal rate change for all major commercial lines of business except Workers’ Compensation and Umbrella are up year over year, the second quarter of 2023. According to Ivans, Q223 experienced an...
Posted: Jul 25, 2023
Insurer and reinsurer AXIS Capital has announced the appointment of Andy Shaw as the new Specialty Team Leader for North American Programs, a newly created role. Shaw will be based out of the company’s Phoenix office and report to Gabe Galan...
Posted: Jul 25, 2023
AM Best will review the collateral arrangements of all fronting companies that it provides ratings for, the rating agency stated in light of the claims that collateral involved in transactions facilitated by insurtech Vesttoo could be fraudulent....
Posted: Jul 25, 2023
One80 Intermediaries, a leading specialty insurance broker, has announced the appointment of Jonathan Legge as Senior Managing Director, Private Equity and Transactional Liability. In this new role, Legge will be responsible for supporting One80&#...
Posted: Jul 25, 2023
Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, has acquired Sioux Falls, South Dakota-based Hagan Insurance Group. Terms of the transaction were not disclosed. Established more than three...
Posted: Jul 25, 2023
In the midst of years of tumultuous market conditions, Florida’s homeowners insurance sector seems to be experiencing an encouraging upturn, signaling a possible rebound for the beleaguered industry, according to a recent report by ALIRT Ins...
Posted: Jul 25, 2023
The emerging El Niño could cause wind drought in North America, which would have a significant effect on renewable energy production in the region, suggests a new report released by WTW. “This year’s combination of El Niño and exceptional At...
Posted: Jul 25, 2023
Leading North American digital MGA, Foxquilt has successfully secured $12 million in funding, spanned across two rounds with the initial closing at the end of 2022, led by ICM, and the latter in recent weeks with participation from both existing a...
Posted: Jul 25, 2023