Reinsurance News
Global insurance group, Howden, has announced the expansion of its Driving Data technology and data teams with the appointment of Tommy Ahearne as Chief Data Officer. This announcement takes place following the recent launch of Howden Drive, its t...
Posted: Jul 21, 2023
The UK financial services industry has reported a 10-year M&A volume high of 160 deals in H1 2023, up from 138 in the same period in 2022 accounting for a 16% rise, according to EY’s latest financial services M&A analysis. However, the tot...
Posted: Jul 21, 2023
Alan Schnitzer, Chairman and Chief Executive Officer (CEO) of U.S. insurer Travelers, has said that the company intends to spend more than $1.5 billion on technology this year as it looks to take advantage of the “profound” opportunity...
Posted: Jul 20, 2023
Fronting company MS Transverse has released a statement in light of the alleged issues with letters of credit (LOC) used as collateral for transactions facilitated by insurtech Vesttoo, explaining that the latter only participates on one program w...
Posted: Jul 20, 2023
Swiss Re Capital Markets has successfully structured and placed the issuance of USD 250 million of insurance-linked securities issued with respect to certain real estate funds managed or controlled by affiliates of Blackstone Inc. under Wrigley Re...
Posted: Jul 20, 2023
Workers’ compensation insurers’ underwriting results continued to outpace the rest of the U.S. P&C commercial sector in 2022, as they benefited from the “long-term decline in workplace accidents and a reduction in fraudulent claims,̶...
Posted: Jul 20, 2023
The Allstate Corporation has estimated catastrophe losses for the month of June at $1.01 billion or $799 million, after-tax, bringing total catastrophe losses for Q2 to $2.7 billion, pre-tax. According to Allstate, the June month catastrophe losse...
Posted: Jul 20, 2023
Embroker, the digital platform making it ‘radically simple’ to get business insurance, has announced the appointment of Ben Jennings as Chief Executive Officer, effective immediately. Jennings has spent the past four years serving as C...
Posted: Jul 20, 2023
US primary insurer Travelers has again increased the size of its Northeast property catastrophe excess-of-loss (XoL) reinsurance treaty by $100 million at the mid-year renewals, during which the firm also entered into a new personal insurance hurr...
Posted: Jul 20, 2023
Guy Carpenter, a leading global risk and reinsurance specialist and a business of Marsh McLennan, has reported total revenue in Q2 of 2023 was $576 million, marking an increase of 11% on an underlying basis. Marsh McLennan’s wider Risk &...
Posted: Jul 20, 2023
Primary insurance group The Travelers Companies, Inc., has reported a net loss of $14 million for the second quarter of 2023, compared to a net income of $551 million in the prior year quarter. The net loss was heavily driven by a $640 million und...
Posted: Jul 20, 2023
The Japanese Business Division of Tokio Marine HCC International (TMHCCI) has unveiled a new Green Upgrade Endorsement that will be added as a standard endorsement, at no additional cost, to the firm’s combined commercial property policies f...
Posted: Jul 20, 2023
“Busyness in the Risk Transfer market is at an all-time high, with around £25bn of bulk annuity transactions expected to be secured in the first half of 2023. To deal with this level of activity and to enable them to secure a successful transactio...
Posted: Jul 20, 2023
AI-powered digital risk platform, Cytora has unveiled its latest enhancement, leveraging Large Language Models (LLMs) to bring a new level of “accuracy and efficiency” to risk assessment and underwriting processes. According to Cytora,...
Posted: Jul 20, 2023
Insurtech MGA Loadsure has launched two “next generation” digital ocean cargo & stock throughput insurance products. “DanubeTM – Dynamic Ocean Cargo Insurance” and “HuronTM” are powerful tools for brokers, who will be able to quote cost-...
Posted: Jul 20, 2023
Arch Insurance’s UK Regional Division has announced the promotion of Kirsty Blois to Underwriting Manager, Miscellaneous and Emerging Professional Indemnity (PI). In the new role, Blois is responsible for managing Arch’s miscellaneous PI book of b...
Posted: Jul 20, 2023
Primary insurer QBE has raised its FY 2023 catastrophe budget to around $1.33 billion as the firm reports an elevated net cost of catastrophes of roughly $700 million for H1 2023. In a recent H1 2023 results updated, the insurer highlights additio...
Posted: Jul 20, 2023
Centauri Insurance, a provider of property and casualty insurance products, has partnered with insurtech company Betterview, for proactive storm risk management. According to the announcement, this collaboration will increase efficiency and oversi...
Posted: Jul 20, 2023
A recent survey conducted by independent research firm Coleman Parkes for pricing decision intelligence leader, hyperexponential, has shed light on the challenges faced by Specialty and Commercial insurers in optimising profitability and making ef...
Posted: Jul 20, 2023
Swiss Re Corporate Solutions has announced the appointment of Marc Ross as Head Property & Specialty Canada, effective September 1, 2023. He will also join the Canadian Management Team for Swiss Re Corporate Solutions. Based in Toronto, Ross w...
Posted: Jul 20, 2023
Munich Re is currently enjoying one of the best periods in its recent history, with risk-reward remaining very attractive, Berenberg stated as it was reassured by the reinsurer’s management confidence on both the outlook for the business and impli...
Posted: Jul 20, 2023
The US fronting market, where specialised carriers offer their financial strength rating, licensing, among other services primarily to MGAs, has increased dramatically throughout the past several years. From a premium size of around $4 billion in...
Posted: Jul 20, 2023
RenaissanceRe Holdings Ltd. has announced the appointment of Robin Lang as the Group’s Chief Risk Officer on a permanent basis starting September 1, 2023. Since April 2023, Lang has been appointed as RenRe’s Interim Chief Risk Officer. Lang will c...
Posted: Jul 20, 2023
Nassau Financial Group, L.P. has successfully completed the acquisition of Delaware Life Insurance Company of New York (DLNY) from Delaware Life Insurance Company, a subsidiary of Group 1001. Nassau plans to merge DLNY into its own subsidiary, Nas...
Posted: Jul 20, 2023
Global insurance group broker Howden has announced the appointment of Steven Crook as Divisional Director, Head of Claims, Aviation and Wayne Hawkins as Divisional Director, Head of Airlines, Aviation. Both roles are based out of London and they w...
Posted: Jul 19, 2023