Reinsurance News
Despite a recent decline in mergers and acquisitions (M&A) activity over the past year, new data released by Tokio Marine HCC (TMHCC) emphasises the growing popularity of Transaction Risk Insurance (TRI) and its effectiveness in paying claims,...
Posted: Jul 18, 2023
AXA XL in the UK has launched its Excess Emissions Insurance product, which is set to help marine clients manage their environmental footprint and support action on carbon emissions. In partnership with ClimateSeed – an impact company that provide...
Posted: Jul 18, 2023
Increasing urban and suburban sprawl has resulted in a “bullseye effect,” causing storms to impact a higher number of properties within a concentrated area, resulting in greater property damage and losses, Megan McConnell, Executive Vi...
Posted: Jul 18, 2023
An Israeli tech publication has reported that insurtech Vesttoo is under investigation following the discovery of billions of dollars in “fraudulent collateral”, with the fall-out prompting the departure of some of the leadership team....
Posted: Jul 18, 2023
At around $400m, marine loss from the Russia-Ukraine war seems insignificant compared with the aviation loss, where more than 400 aircraft worth almost $10bn, have been stuck in Russia after lessees did not return the jets, according to Miller’s m...
Posted: Jul 18, 2023
Specialty re/insurance group Chaucer has promoted Chris Baker to Head of Global Reinsurance, overseeing all lines of Reinsurance business and territories. An experienced veteran within the industry, Baker has been with Chaucer for almost two decad...
Posted: Jul 18, 2023
Data analytics and technology provider, Verisk, has announced that Samer Abou-Jaoudé will lead the company’s Claims Solutions business in Continental Europe as Managing Director. Abou-Jaoudé will be taking over the role from Olav Skowronnek who is...
Posted: Jul 18, 2023
Fermat Capital Management, LLC, the specialist insurance-linked securities (ILS) investment manager, is set to broaden its relationship with CyberCube by licensing the firm’s Industry Exposure Database (IED). The cyber analytics firm launche...
Posted: Jul 18, 2023
“Lloyd’s performance and capital are strong, positioning the market to meet the challenges of an ever more complicated global risk environment… A healthy marketplace is critical to enabling innovation and meeting clients’ complex needs...
Posted: Jul 18, 2023
AXA XL Insurance has announced the appointment of Adele Smith as the Head of Mid-Market Generalist. She will be based in New York, and report to AXA XL’s Head of U.S. Mid-Market Matt Waters. This announcement is in line with AXA’s plans for...
Posted: Jul 18, 2023
CLARA Analytics, a provider of artificial intelligence (AI) technology for casualty insurance claims optimisation, has announced an exclusive partnership with Australian insurance consulting practice, OPEX Consultants, in a significant move to exp...
Posted: Jul 18, 2023
Sixth Street’s Talcott, an international life insurance group, has announced the appointment of Michael Smith as Executive Chairman, effective immediately. Smith brings 38 years of experience in the insurance industry. He joins after an almost 14...
Posted: Jul 18, 2023
Munich Re Specialty Group has appointed Julian Richardson as Chief Underwriting Officer of its Green Solutions portfolio, effective from 1 September 2023. According to Munich Re, Richardson will be responsible for the performance, management and g...
Posted: Jul 18, 2023
RSA Insurance has announced that it is to expand its Professional Indemnity offering and launch an Excess of Loss (XOL) product. RSA suggested that the XOL product, which is now available to brokers and commercial lines customers throughout the UK...
Posted: Jul 18, 2023
Liberty Mutual Insurance President and Chief Executive Officer, Tim Sweeney, has announced key organizational changes and new executive leadership appointments that will be effective starting August 1st. These changes are aimed at enhancing focus...
Posted: Jul 18, 2023
AM Best has revised the outlooks of Palomar Holdings, Inc., and member companies, to positive and affirmed the company’s Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-” (Good). The credit rating agency also revised the outlooks to positiv...
Posted: Jul 18, 2023
Timothy Braun has been appointed as the Chief Underwriting Officer (CUO) of Global Financial Lines at Bermuda-based re/insurer AXIS Capital. His appointment was effective June onwards and is based out of New York, U.S. Braun is a market veteran an...
Posted: Jul 18, 2023
The next three years will be critical to the long-term growth prospects of the cyber insurance market, according to a scenario-led analysis of the market’s dynamics by Conning. “A geological fault runs through the risk landscape,” analysts e...
Posted: Jul 17, 2023
Cassandra Vrchota has been appointed Director – Reinsurance Property Underwriting at The Cincinnati Insurance Companies. The property casualty insurer markets business, home and auto insurance products through a select group of independent i...
Posted: Jul 17, 2023
BMS Re, the specialty reinsurance arm of the global broking group BMS, has announced the acquisition of Sao Paulo-based reinsurance broker, KNW Brokers Corretora de Resseguros Ltd (KNW). The Brazilian reinsurance broker has deep expertise in provi...
Posted: Jul 17, 2023
AM Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of GuideOne Insurance Company and its wholly owned subsidiaries. According to AM...
Posted: Jul 17, 2023
Carbon Underwriting Limited, a specialist, independent managing general underwriter (MGU), has announced a significant strategic investment from UK private equity firm Apiary Capital (Apiary). The investment is expected to bolster Carbon’s g...
Posted: Jul 17, 2023
Tokio Marine HCC International (TMHCCI) has announced the appointment of Sandy Mavrommati as the new Head of Legal & Compliance for its European operations, Tokio Marine Europe (TME). This move aims to enhance the company’s network of co...
Posted: Jul 17, 2023
London-based pension consultancy firm, Lane Clark & Peacock (LCP), has successfully advised on a significant £90 million bulk purchase annuity transaction between Just and the Hammerson Group Management Limited Pension and Life Assurance Schem...
Posted: Jul 17, 2023
Independent specialist re/insurance broker, Miller has announced a significant expansion of its US Casualty team with the appointment of two seasoned professionals, Galen Brislane and Danielle Thorsteinson, as Account Executives. Brislane joined M...
Posted: Jul 17, 2023