Reinsurance News
Against a backdrop of market-hardening effects, Labuan International Business and Financial Centre (Labuan IBFC)’s captive sector continued to gain momentum with five new players and total gross premiums of USD 571 million in 2022. More than 62% o...
Posted: Jun 15, 2023
Lexasure Financial Group, a leading Southeast & South Asia group providing reinsurance and digital insurance solutions, has partnered with Qornerstone Inc., to collaborate in the creation and provision of new and existing insurance and risk mi...
Posted: Jun 15, 2023
Hannah Greenwood, previously of Inver Re, has been appointed as the Chief of Staff at Fidelis Insurance Group, effective immediately. Prior to this, she served as a Business Manager at Inver Re for almost two years. She started working here follow...
Posted: Jun 15, 2023
RenaissanceRe, a global provider of reinsurance, celebrated its 30th anniversary on June 14, 2023. The company was founded in Bermuda in 1993 with the goal to bring a renaissance to the underwriting of property catastrophe reinsurance, Kevin J. O’...
Posted: Jun 14, 2023
Chubb has launched Cyber Central, an innovative quoting platform designed for agents and brokers who specialize in cyber risks. The cutting-edge platform simplifies and enhances the process of quoting and issuing Cyber, Technology E&O, and Mis...
Posted: Jun 14, 2023
Mt. Logan Re, Ltd., the third-party capital unit of Everest Re Group, Ltd., has announced the appointment of Charles E.F. Millard as a Non-Executive Independent Board Director, effective immediately. Millard’s appointment comes following the...
Posted: Jun 14, 2023
Property and auto-focused insurance group, The Progressive Corporation, has reported a combined ratio of 91.4% for its property business in its May 2023 results, which includes 66.1% in Loss/LAE ratio and 25.3% in Expense ratio. The net catastroph...
Posted: Jun 14, 2023
IAG held its Investor Day to provide an update on its strategic execution, operating environment and financial targets, with Managing Director and CEO Nick Hawkins explaining that the firm expects to moderately exceed its natural catastrophe budge...
Posted: Jun 14, 2023
JP Morgan analysts stated at the European Insurance Conference that the reinsurance sector is expected to continue experiencing a hard market, with notably high pricing levels observed in property catastrophe lines of business. Analysts highlighte...
Posted: Jun 14, 2023
The Global Shield Solutions Platform (GSSP), a pioneering financing vehicle aimed at assisting vulnerable countries in effectively tackling loss and damage exacerbated by climate change, was officially launched on June 9, 2023. The momentous occas...
Posted: Jun 14, 2023
Bermuda-based Legal & General Reinsurance has announced the appointment of Kimberley Joslyn to the role of Operations Accountant. She joins L&G from Freisenbruch, an insurance company also based in Bermuda, where she worked for almost six...
Posted: Jun 14, 2023
Artificial intelligence (AI) technology and deep fakes are becoming the latest surge behind phishing scams, as they are creating new opportunities for criminals. A combination of voices and writing styles are being mimicked to look as if calls, me...
Posted: Jun 14, 2023
German reinsurance giant Munich Re has signed a long-term collaboration agreement with INTILION to insure its large-scale energy storage system. The insurance product offered by Munich Re provides the company with the ability to insure against cli...
Posted: Jun 14, 2023
Dubai Islamic Insurance and Reinsurance (AMAN) has announced that it will sell its individual life takaful portfolio to Abu Dhabi National Takaful Company (ADNTC) for 37.5 million UAE dirhams. AMAN, which is listed on the Dubai Financial Market (D...
Posted: Jun 14, 2023
CAC Group, an insurance brokerage business, has announced the successful expansion of its syndicated loan facility, further bolstering its financial resources and strategic growth initiatives. The syndicated loan, led by Wintrust Financial Corpora...
Posted: Jun 14, 2023
Everest Reinsurance, the reinsurance division of Everest Re Group, Ltd., has appointed Trevor Gallagher as Head of US Facultative, where he will report to Anthony Izzo, Global Head of Reinsurance Distribution and Facultative. In the role, Gallaghe...
Posted: Jun 14, 2023
U.S. insurers have paid more than their counterparts worldwide to repair and rebuild damaged properties and vehicles due to inflation since 2018, according to an executive briefing conducted on behalf of the International Insurance Society (IIS)....
Posted: Jun 14, 2023
Equinox Reinsurance Intermediaries (ERI), affiliated with Inver Re and part of the wider Ardonagh Group, has announced that it has made two appointments of Managing Director. The company has confirmed that Jeremy Brasier has been promoted to the p...
Posted: Jun 14, 2023
Swiss Re Corporate Solutions has announced that as of September 1st, James Gasco will be responsible for leading the Canadian business. Gasco will report to Katie McGrath, the CEO of North America, Swiss Re Corporate Solutions. Gasco in this role,...
Posted: Jun 14, 2023
Constellation Insurance, Inc. appointed Patricia Guinn to the Boards of Directors of Constellation and its affiliated insurance subsidiaries, including The Ohio National Life Insurance Company (ONLIC), Ohio National Life Assurance Corporation (ONL...
Posted: Jun 14, 2023
P&C re/insurer Sompo International has appointed René Huber as Head of Marine & Specialty Insurance for Continental Europe. He has over 25 years’ experience in multinational business, with a focus on specialty and marine products. He joins...
Posted: Jun 14, 2023
InsurTech firm Lemonade has broken a world record by settling an insurance claim within two seconds by using AI and machine learning. Renowned for leveraging AI and machine learning technology to enhance and improve customer experiences, Lemonade...
Posted: Jun 14, 2023
Lloyd’s, the global insurance and reinsurance marketplace, has entered into a new partnership with Dubai’s Department of Economy and Tourism (DET) to develop a Dubai Insurtech Enablement Platform, designed to facilitate holistic growth oppor...
Posted: Jun 13, 2023
According to AM Best, the U.S. cyber insurance market’s strong growth continued in 2022, with direct premium increasing by 50% to $7.2 billion. In its Market Segment Report titled, US Cyber: First Hard Market Cycle Brings a Return to Profita...
Posted: Jun 13, 2023
Leading global professional services firm Aon plc appointed Ben Walker as the head of global credit, spearheading a united team that combines various credit reinsurance classes to enhance client experience and offer comprehensive solutions. It has...
Posted: Jun 13, 2023