Reinsurance News
Slide Insurance, a full-stack insurtech focused on providing affordable, effective homeowners coverage, has announced it has finalized pricing for its latest catastrophe bond, closing the $100 million Purple Re Ltd. (Series 2023-2) transaction. Th...
Posted: Jul 13, 2023
Demand for facultative reinsurance is growing, however, supply remains static, and market dynamics differ greatly between accounts, lines of business and markets, according to Aon’s mid-year Reinsurance Market Dynamics report. With the resetting o...
Posted: Jul 12, 2023
Claims inflation is expected to remain a highly noticeable feature for the rest of 2023, according to Bloomberg Intelligence’s new Europe P&C Insurance 2023 Outlook, with analysts believing that insurers will not be able to increase rates enou...
Posted: Jul 12, 2023
Bermuda-based agency, Helix Underwriting Partners Ltd. has entered into an equity investment agreement under which global insurer Arch Capital Holdings Ltd. has become a minority shareholder. According to the announcement, this transaction further...
Posted: Jul 12, 2023
Lloyd’s, the global insurance and reinsurance marketplace, appointed Rebekah Clement to the newly created role of Corporate Affairs Director, effective immediately. In this position, Clement will report directly to Lloyd’s CEO, John Ne...
Posted: Jul 12, 2023
Insurance broker Clear Group has announced its acquisition of Specialty Lines MGA, One Commercial Specialty Limited. This marks Clear Group’s second MGA deal, as earlier this month the broker announced the acquisition of a 50% shareholding i...
Posted: Jul 12, 2023
AXIS Capital has appointed Lauren Kent as President, AXIS Re International. Kent holds over two and a half decades of experience in reinsurance spanning the London, European and U.S. markets. According to AXIS, her expertise extends across multipl...
Posted: Jul 12, 2023
Berkshire Hathaway Specialty Insurance (BHSI) has announced the appointment of David Corrigan as Head of Property for the UK. In his new role, based in London, Corrigan will oversee underwriting of BHSI’s comprehensive line of property coverage fo...
Posted: Jul 12, 2023
Zurich Insurance Group has made several key leadership appointments for its Asia Pacific Commercial Insurance business to strengthen regional go-to-market capabilities and drive expansion in key Asian markets. The firm has appointed Sean Walker as...
Posted: Jul 12, 2023
Farmers will no longer offer coverage in Florida, ending auto, home, and other policies in the state, with the decision set to impact an estimated 100,000 policyholders. The organisation notified the Florida Office of Insurance Regulation (OIR) of...
Posted: Jul 12, 2023
Global insurance and reinsurance broker Aon has outlined the new structure of its Reinsurance Solutions UK leadership team. This reflects the firm’s ongoing aim to place clients at the centre of its growth strategy and drive internal collaboration...
Posted: Jul 12, 2023
Global specialty re/insurer Canopius Group has announced the appointment of Charles Cooper as Global Head of Reinsurance and CEO of Canopius’s Bermudian entities. In his new role, starting from 1 September, Cooper has been tasked to drive Canopius...
Posted: Jul 12, 2023
WTW, a global advisory and broking company has launched Asia’s first 4-peril parametric insurance to protect Sri Lanka’s shrimp farms against weather risks, marking a major turning point in Asia’s aquaculture development. According to the firm, th...
Posted: Jul 12, 2023
JBA, a leading flood science specialist, has been selected to supply the World Bank with enhanced access to its Global Flood Maps. This development follows JBA’s appointment to the esteemed Development Data Partnership, which facilitates the...
Posted: Jul 12, 2023
Ten days after the start of the unprecedented riots in France in late June, 11,300 claims were reported, amounting to a total cost of €650 million, according to France Assureurs. France Assureurs noted that claims on professional property account...
Posted: Jul 12, 2023
AXIS Capital has appointed Frank Romeo to lead its entry into the US marine cargo insurance market. According to AXIS, the development of a marine cargo proposition tailored to the US market is part of the firm’s broader strategy to maximise...
Posted: Jul 12, 2023
Europe’s big four reinsurers stand to benefit from a continuation of favourable market conditions in 2024 on the back of strong outcomes at the mid-year renewals, driven in part by the lack of new capital inflows in the current hard market c...
Posted: Jul 12, 2023
French insurer AXA is reportedly considering the sale of reinsurance division, AXA XL Re, in an effort to lower its exposure to natural disasters, reports Reuters. According to people familiar with the matter, the large insurer is discussing strat...
Posted: Jul 12, 2023
Global reinsurer Swiss Re’s Board of Directors has decided that current Vice Chairman, Jacques de Vaucleroy, will continue to lead the Board and be proposed as the firm’s new Chairman at the next AGM in April 2024, following Sergio P....
Posted: Jul 12, 2023
ZhongAn, China’s first online-only insurance company, has unveiled a roadmap to transition from digital intelligence to artificial intelligence (AI). This transition, the insurer stated, is set to revolutionise the entire process of the sale...
Posted: Jul 12, 2023
Florida’s Citizens Property Insurance Corporation has completed the placement of its 2023 risk transfer program, securing just over $2.98 billion of protection from a mix of traditional and collateralised reinsurers for its Coastal and Personal Li...
Posted: Jul 11, 2023
Sustained heat, floods and heavy rainfall could drive subsidence-related insurance costs to over £1.9bn by 2030, according to analysts at PwC. PwC’s analysts suggest that subsidence-related insurance will be significantly impacted if the lev...
Posted: Jul 11, 2023
Leading cyber analytics firm CyberCube has announced that BFL Canada – one of the largest risk management, insurance brokerage and benefits consulting firms in Canada – will license its Broking Manager product to help clients make bett...
Posted: Jul 11, 2023
Gerald Erasmus has joined specialty re/insurer Ascot Group as Reinsurance Controller, a role based in the firm’s Bermuda office. Erasmus joins Ascot Group after almost seven years with RenaissanceRe, where he most recently served as AVP Cont...
Posted: Jul 11, 2023
“Protest intensity in 2022 and the first quarter of 2023 correlate most strongly with rising energy prices, slower real wage growth, and the proportion of wages set by collective bargaining,” suggests WTW. This is according to the firm...
Posted: Jul 11, 2023