Reinsurance News
US investment giant Fidelity Investments has formed Soteria Reinsurance Ltd., a newly incorporated Class C insurer registered in Bermuda that will focus on the US retail fixed annuities and pension risk transfer space. On June 20th, 2023, Soteria...
Posted: Jul 17, 2023
Global rating agency AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and also affirmed the Financial Strength Ratings of A (Excellent) and the Long-Term ICRs of “a” (Excellent) of spe...
Posted: Jul 17, 2023
Emmanuel Brulé has joined property and casualty (P&C) insurer and reinsurer Sompo International as its new Chief Risk Officer (CRO), based in Bermuda. Brulé previously served as Chief Executive Officer (CEO) of Sanlam’s Pan Africa Genera...
Posted: Jul 17, 2023
Nexus Underwriting has announced the completion of its acquisition of Evolve Cyber Insurance Services LLC, a California-headquartered cyber MGA. Marking the 17th acquisition for Nexus since its formation in 2008, this latest transaction helps the...
Posted: Jul 17, 2023
Global non-life specialty insurer R&Q Insurance Holdings Ltd, has announced the appointment of Jerome Lande as a Non-Executive Director with immediate effect. Lande is an experienced board member with over two decades of leadership experience...
Posted: Jul 17, 2023
Managing General Agent NBS Underwriting has announced the acquisition of Capital Markets Underwriting Limited (CMU), an independent Underwriting Agency and Lloyd’s Coverholder. According to NBS, this “strategic move” is a significant s...
Posted: Jul 17, 2023
Howden Tiger has made two new appointments within its Cyber Reinsurance division, naming Toby Lampier as Executive Director, and Cecilia Assmundson as Divisional Director. Lampier joins Howden Tiger from Aon, where he spent almost a decade, most r...
Posted: Jul 17, 2023
Integra Insurance Solutions, a leading home insurance Managing General Agent (MGA), has announced a multi-year partnership with Accredited Insurance (Europe) Limited (Accredited), a globally recognised program manager. This partnership commenced o...
Posted: Jul 17, 2023
The recent outbreaks of severe convective storms in Europe are likely to result in hundreds of millions of Euros in aggregated economic and insured losses, according to Aon’s Weekly Cat Report. Multiday storms affected a number of countries in Wes...
Posted: Jul 17, 2023
Global property reinsurance prices increased sharply in 2023 on lower capacity, above-average catastrophe losses, higher inflation, and more financial and macroeconomic volatility, with analysts at DBRS Morningstar predicting tougher reinsurance m...
Posted: Jul 14, 2023
The accumulated primary insurance premium of China Pacific Property Insurance Co., Ltd. (CPIC P/C), a subsidiary of China Pacific Insurance Company (CPIC), amounted to RMB104.948 billion, representing a year-on-year increase of 14.3% in the Januar...
Posted: Jul 14, 2023
International loss adjusting firm, Charles Taylor Adjusting has appointed Stephen Thorpe, a respected industry veteran to a key leadership role within the new Charles Taylor regional hub in Singapore. Effective as of July 1 2023, Thorpe became Man...
Posted: Jul 14, 2023
Property and casualty insurers have witnessed a rise in catastrophe losses during the second quarter, while reinsurers have experienced a decrease as they move away from frequency risks, according to analysts at BMO Capital Markets. “…...
Posted: Jul 14, 2023
Global catastrophe rates have surged by 27% year-to-date, with the United States experiencing the highest increase at 35%, according to RBC Capital Markets. The property catastrophe rate indexes have reached levels not seen since 2006, when a sign...
Posted: Jul 14, 2023
Reinsurance broker Augment has announced its official launch, backed with up to $100 million in funding from private equity firm Altamont Capital Partners. Amidst the emergence of ever more complex risks, macroeconomic volatility, and an evolving...
Posted: Jul 14, 2023
Club Vita, an independent longevity data analytics company, has announced the appointment of Natalie Gleed as Head of Business Development, US. According to the announcement, Gleed’s hire was in response to growing demand for longevity analytics t...
Posted: Jul 14, 2023
NEXT Insurance, a digital insurtech, has announced its integration with Ivans Download for General Liability and Workers’ Compensation policies. According to NEXT, this feature offers a seamless exchange of policy data between the firm and i...
Posted: Jul 14, 2023
Victor, a global managing general underwriter (MGU), has announced the appointment of Ashleigh Cashman as President of International Catastrophe Insurance Managers LLC (ICAT), its US property catastrophe managing general agency (MGA). In her new r...
Posted: Jul 14, 2023
Broking firm WTW has hired Sompo International’s Juan Mascaro as Hospitality Segment leader a part of the Real Estate, Hospitality, and Leisure Division within its Corporate Risk and Broking (CRB), North America. Mascaro brings more than 20...
Posted: Jul 14, 2023
At $35 billion, insured natural catastrophe losses in the first half of 2023 were roughly in line with historical averages, according to RBC Capital Markets. “We estimate a large loss tally of $37 billion at the half-year, of which $35 billion are...
Posted: Jul 14, 2023
Independent insurance company manager, Strategic Risk Solutions (SRS), has announced the promotion of Elyse Dandeker to Deputy Managing Director of the SRS Guernsey office and Head of European Operations. Dandeker will be reporting to Peter Child,...
Posted: Jul 14, 2023
Analysts at Goldman Sachs still expected reinsurance broking businesses to report double-digit premium growth in the second quarter of 2023, as well as strong results in retail property and casualty (P&C) globally. In a recent report, analysts...
Posted: Jul 14, 2023
In line with its strategy of increasing underwriting capacity through acquisition, Helios Underwriting has acquired the entire issued capital of Chorlton Underwriting Limited for a total consideration of £1,996,830. Of this total, £200,000 has bee...
Posted: Jul 14, 2023
Mark Hoban, former City Minister and outgoing Chair of Flood Re, has issued a stark warning, emphasising the urgent need for the UK to adapt to climate change and prepare for an increased risk of flooding. In Flood Re’s newly released “...
Posted: Jul 14, 2023
Global data analytics and technology provider Verisk has appointed Samantha Vaughan as Chief Privacy Officer, effective immediately. In her new role, Vaughn will lead the development and implementation of policies to protect the data entrusted to...
Posted: Jul 14, 2023