Reinsurance News
The catastrophe bond market has experienced a remarkable surge, with an 8%, or $2.8 billion increase in outstanding notional value since the beginning of the year, according to Aon’s Reinsurance Market Dynamics report. With robust new issuan...
Posted: Jul 04, 2023
Aegon, a Netherlands-headquartered multinational life insurance, pensions and asset management company, has announced the successful completion of its merger with a.s.r., a prominent Dutch insurance company. This strategic combination brings toget...
Posted: Jul 04, 2023
American Financial Group (AFG) has completed the purchase of Crop Risk Services (CRS) from AIG. Illinois-based, CRS is a primary crop insurance general agent and is the seventh largest provider of multi-peril crop insurance in the United States, b...
Posted: Jul 04, 2023
AXIS Capital, a global specialty underwriter and provider of re/insurance solutions has promoted Raj Brar to Head of International Casualty MGA, where he will be based in London. His appointment is effective immediately. The company confirmed that...
Posted: Jul 04, 2023
The independent specialist insurance and reinsurance broker, BMS Group, has entered into an agreement to acquire Brisbane-based Bluebook Insurance Brokers. The deal marks the sixth Australian acquisition by BMS in the past year as the company look...
Posted: Jul 04, 2023
Bermuda-based reinsurer, PartnerRe has announced the appointment of Thomas Smith as Head of Global Clients and Broker Management. He will succeed Fiona Mitchell who is leaving the reinsurance industry. Commenting on the appointment, James Beedle,...
Posted: Jul 04, 2023
P&C re/insurer Sompo International has appointed Jesús García Matas as the Head of Property Insurance for Iberia. García Matas will be based in Sompo International’s newly established office in Madrid and will report to Jamie Cañellas, t...
Posted: Jul 04, 2023
Independent specialist re/insurance broker, Miller has announced the appointment of Juan Hernandez as an Account Executive in its Sports and Entertainment team. Hernandez will report to Susana Bramwell, Head of Media, Film & TV. The role will...
Posted: Jul 04, 2023
With the world dealing with the ongoing effects of global warming and urbanization, this has led to natural catastrophes such as floods to become increasingly more common. However, despite this, studies suggest that only 20% of the world’s $70 bil...
Posted: Jul 04, 2023
In the global non-marine retrocession market, mid-year renewals have exhibited a greater sense of orderliness compared to the dislocation witnessed during January 1, according to Gallagher Re’s 1st View renewals report. Market participants b...
Posted: Jul 04, 2023
Digital risk processing platform Cytora has partnered with hyperexponential, a pricing decision intelligence company, to provide commercial insurers with a more streamlined and informed understanding of risk. The platform partnership drastically r...
Posted: Jul 04, 2023
Global reinsurance giant Munich Re has announced that Owais Ansari has been appointed as Chief Executive Officer, Life & Health, Middle East and North Africa (MENA), with effect from September 1, 2023. According to the announcement, his appoin...
Posted: Jul 04, 2023
AIG has announced that its definitive agreement with funds managed by Stone Point Capital to form an independent Managing General Agency specialising in the High Net Worth and Ultra High Net Worth markets called Private Client Select Insurance Ser...
Posted: Jul 04, 2023
EY, a multinational professional services firm has appointed Phil Vermeulen to EMEIA Insurance Leader. Vermeulen takes over the role from Peter Manchester, who has led the European insurance business since 2017. Manchester will retire from the par...
Posted: Jul 04, 2023
Fidelis Insurance Holdings Limited has announced the closing of its initial public offering of an aggregate of 15,000,000 common shares at a price to the public of $14.00 per share, generating estimated net proceeds of $89.4 million. According to...
Posted: Jul 04, 2023
Markel Group Inc.’s insurance subsidiary, Markel has announced the appointment of Kevin Leung as Chief Underwriting Officer (CUO) for its Asia Pacific (APAC) operations. He will report to Christian Stobbs, Managing Director of Markel’s Inter...
Posted: Jul 04, 2023
Brisbane headquartered insurer Suncorp has adjusted its reinsurance program structure for the 2024 fiscal year in light of material market hardening, reducing the top of the tower by $400 million at the same time as increasing the retention by $10...
Posted: Jul 04, 2023
Pen Underwriting, a multi-class, multi-territory managing general agent (MGA), has appointed Munro Anderson as Head of Operations at Vessel Protect, a specialist underwriter of marine war risks. According to the announcement, Anderson’s hire shows...
Posted: Jul 04, 2023
Global Parametrics (GP) and One Acre Fund have partnered with international insurance group, Howden, to bolster its parametric protection scheme in Rwanda this year. Howden has provided premium subsidy to support the expansion of this scheme in th...
Posted: Jul 04, 2023
One of Queensland’s leading insurers, RACQ Insurance, has joined the Federal Government’s Cyclone Reinsurance Pool prior to the 2023-24 cyclone season. This announcement comes after insurer Suncorp Group announced last week that it has joined the...
Posted: Jul 04, 2023
The Association of British Insurers (ABI) has announced that Tim Bailey, UK CEO, Zurich, has been appointed as President. At the same time, the ABI has also confirmed that Clare Bousfield, Chief Executive, Retail and Savings, M&G plc, has been...
Posted: Jul 04, 2023
In the quest for a more sustainable future, the insurance industry is stepping up to play a vital role in supporting the development of the blue economy, according to a recent Swiss Re Institute report. As waterways and oceans continue to be recog...
Posted: Jul 03, 2023
In the quest for a more sustainable future, the insurance industry is stepping up to play a vital role in supporting the development of the blue economy, according to a recent Swiss Re Institute report. As waterways and oceans continue to be recog...
Posted: Jul 03, 2023
The European Union has provided $4.7 million to members of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) to subsidise its 2023 parametric insurance program. Provided through a programme administered by the World Bank, the EU funds enab...
Posted: Jul 03, 2023
Italy’s top four insurers and Germany’s Allianz have agreed on a multi-billion euro rescue deal for Eurovita, industry supervisor IVASS said on Friday, as reported by Reuters. This comes after months of work to broker an accord which a...
Posted: Jul 03, 2023