Reinsurance News
Legal & General Retirement Institutional (LGRI), the UK bulk annuity division of Legal & General, has made strong progress in multiple sectors, including Pension Risk Transfer (PRT), individual annuities, and US protection, transacting £6....
Posted: Jul 06, 2023
International insurance broker, Howden, has announced that it has acquired Media Insurance Brokers International Limited, a major independent UK and Irish film and television broker. This acquisition significantly enhances Howden’s media and enter...
Posted: Jul 06, 2023
S&P Global Ratings has announced an upgrade in the issuer credit and financial strength ratings of French reinsurer CCR RE, raising them from ‘A-‘ to ‘A, following news of acquisition by SMABTP. The rating upgrade comes in th...
Posted: Jul 05, 2023
Tim Benson has been promoted to the role of Chief Revenue Officer – Commercial Insurance at global re/insurer Chubb. A highly experienced veteran across the industry, Benson has worked for Chubb for over 18 years. In his most recent role, he...
Posted: Jul 05, 2023
Specialist financial and commercial lines MGA, Spring Insure has announced the appointment of two new hires, James O’Halloran as Development Underwriter and Charlie Cooper as Underwriter. According to the announcement, these appointments form part...
Posted: Jul 05, 2023
BMS Re, the specialty reinsurance arm of the global broking group BMS, has appointed Steve Housse as the managing director and leader of the facultative practice, and Dan Shea as the senior vice president of property facultative. Housse and Shea w...
Posted: Jul 05, 2023
Velocity HoldCo., LLC, the holding company for Velocity Risk Underwriters, and Velocity Claims LLC, is expanding its business to now include a rated E&S insurance carrier in all 50 US states. The new carrier, Velocity Specialty, which is led b...
Posted: Jul 05, 2023
Aon has announced a multi-year collaboration with Asia Pacific climate data and analytics provider AbsoluteClimo to help advance climate modelling for climate-based perils. It adds to Aon’s growing suite of analytical and academic initiatives to b...
Posted: Jul 05, 2023
Brokerslink has unveiled a new governance structure, incorporating an Advisory Board alongside its existing Board of Directors. This transformation comes as a result of the merger between Brokerslink Management AG and Brokerslink AG, with the latt...
Posted: Jul 05, 2023
Broader market trends seen at January 1 continued at mid-year renewals, but with improved timing and concurrence around terms and conditions, according to Guy Carpenter, a leading global risk and reinsurance specialist and a business of Marsh McLe...
Posted: Jul 05, 2023
Graeme Trudgill, the current Executive Director of The British Insurance Brokers’ Association (BIBA) has been appointed to succeed Steve White as BIBA’s next Chief Executive. White announced his plans to retire at The BIBA Conference in Manc...
Posted: Jul 05, 2023
The aviation reinsurance market continues to grapple with challenges and uncertainty, according to global reinsurance broker Gallagher Re’s latest report on the aviation insurance market. While there are some signs of improvement in aviation...
Posted: Jul 05, 2023
Brookfield Reinsurance, a capital solutions business that provides insurance and reinsurance services to individuals and institutions, is set to acquire American Equity Investment Life Holding Company (AEL) for $4.3 billion, taking the firm’...
Posted: Jul 05, 2023
WTW, a global advisory and broking firm has appointed Anthony Plotnek to lead its recently combined Private Assets and Capital Management (PACM) team within its Insurance Consulting and Technology (ICT) business. Within the role, Plotnek will be b...
Posted: Jul 05, 2023
“As climate change and socio-economic factors lead to ever more damaging catastrophe events, we need to get better at turning science and data into actionable insights,” suggests Paul Shedden, Global Head of Analytics at Aon’s Re...
Posted: Jul 05, 2023
Addresscloud, a cloud-based location intelligence platform, and geospatial data and AI solutions provider Skyblu have partnered to give insurers access to a rich suite of address-level perils data for locations across mainland Europe. There has be...
Posted: Jul 05, 2023
International insurance broker Howden has suggested that the size of the cyber insurance market could reach $50 billion by 2030, though the realisation of this potential is tied to three key factors: distribution, tail-risk management and attracti...
Posted: Jul 05, 2023
Stable has announced the expansion of its price risk management platform into the Energy, Fertilizer and Packaging sectors. The company’s vision with the move is to continue its rapid rollout as the world’s largest parametric insurance platf...
Posted: Jul 05, 2023
Catastrophe loss data aggregator PERILS AG has placed its initial industry loss estimate for the floods in the Emilia-Romagna region of Italy during the period of 2 to 22 May 2023 at €377m. According to PERILS, this estimate of the insurance loss...
Posted: Jul 05, 2023
International specialty insurance firm Ryan Specialty has completed the acquisitions of Socius Insurance Services, Point6 Healthcare, and ACE Benefit Partners, Inc. In early June, Ryan Specialty signed definitive agreements to acquire certain asse...
Posted: Jul 05, 2023
IRB-Brasil Resseguros S.A. has received official communication sent by the Federal Union indicating that former Minister of State, Mauricio Quintella Malta Lessa, will assume the position of IRB Brasil Re Board of Directors Chairman. The Federal U...
Posted: Jul 05, 2023
In the realm of international liability and professional lines, the recent renewals unfolded with relative calm, indicating stability in the market, according to Gallagher Re’s 1st View renewals report on International Casualty. The majority...
Posted: Jul 05, 2023
Specialty insurer RLI has announced promotions within its Claim and Claim Counsel teams, effective immediately. Cory Figiel, who joined RLI in 2016 as Director, Claim Counsel, has been promoted to Vice President, Claim. With this promotion, Figiel...
Posted: Jul 05, 2023
The advisory group to insurers, reinsurers and risk managers, Alan Gray LLC has announced the appointment of Seth Patel as Chief Executive Officer (CEO) as of July 1, 2023. This announcement comes in light of Mike Ceppi transitioning to the role o...
Posted: Jul 05, 2023
Steve Hearn, the CEO of Inver Re, the Ardonagh Group’s dedicated reinsurance broking unit, is set to depart the company and Group later this summer, we’ve learned. Hearn took on the Global CEO role at Inver Re in 2021, after Ardonagh a...
Posted: Jul 04, 2023