Reinsurance News
Simplifai, an artificial intelligence (AI) automation solutions provider, has launched Simplifai InsuranceGPT, a custom-built GPT tool fuelled by the company’s no-code AI-powered platform. It is the first large language model (LLM) to be trained s...
Posted: Jun 05, 2023
Old Republic International Corporation – PMA Companies, Inc (PMA), a member of the Old Republic General Insurance Group, has appointed Sashi Aiyathurai as Executive Vice President and Chief Underwriting Officer. Within the role, Aiyathurai will ov...
Posted: Jun 05, 2023
omni:us, a leading provider of AI-powered insurance claims automation solutions, has announced the appointment of Franziska Meyer as the new Vice President of Delivery. omni:us says that Mayer will be responsible for overseeing the implementation...
Posted: Jun 05, 2023
Yelena La Forgia has been appointed to the role of Senior Vice President, Chief Financial Officer, at Aspen Insurance and Aspen US. Based in New York, she joins the firm from Berkley Product Protection where she most recently held the role of Chie...
Posted: Jun 05, 2023
Global property and casualty insurer, Chubb has announced its support for the Galápagos Marine Bond – the world’s largest debt conversion for marine conservation. The marine conservation-linked bond involves a partnership with the Gove...
Posted: Jun 02, 2023
Corvus Insurance, an AI-powered cyber specialty insurer, has announced the appointment of Albert Zhou as Chief Risk Officer. Zhou will report directly to Corvus Insurance’s President, Prashanth Gangu, and join the company’s leadership...
Posted: Jun 02, 2023
Marsh McLennan Agency, a subsidiary of Marsh, has announced the acquisition of SOLV Risk Solutions, LLC. SOLV is an independent agency based in Austin, Texas. Although, the terms of the acquisition were not disclosed. SOLV was founded in 2016, it...
Posted: Jun 02, 2023
Legacy specialist Enstar Group announced that one of its wholly-owned subsidiaries closed a previously announced Loss Portfolio Transfer (LPT) agreement with RACQ Insurance to reinsure 80% of RACQ’s motor vehicle Compulsory Third Party (CTP) insur...
Posted: Jun 02, 2023
Amidst a changing market, reinsurance capital is rising again as events that caused its decline through last year start to slowly reverse, Howden Tiger stated in a recent report. A number of global factors are reshaping the reinsurance market land...
Posted: Jun 02, 2023
Florida-based insurtech HCI Group has increased the reinsurance coverage for both its TypTap and Homeowners Choice subsidiaries at the June renewal. HCI has secured two reinsurance towers for its two insurance subsidiaries by entering into contrac...
Posted: Jun 02, 2023
SiriusPoint Ltd., a global specialty insurer and reinsurer, has announced the appointment of former Hiscox CEO Bronek Masojada as Chair of the Company’s Board of Directors, effective immediately. Masojada joined the board on May 2 this year. He is...
Posted: Jun 02, 2023
The Canadian Institute of Actuaries (CIA) has elected five new members to its Board. The company has confirmed that Conrad Ferguson, FCIA, has been acclaimed as President-Elect of the CIA. CIA stated that Ferguson will hold this position for 2023-...
Posted: Jun 02, 2023
Tremor Technologies, Inc., the online reinsurance pricing and placing platform, has launched Tremor Wordings™ which will serve as a powerful solution to digitize the reinsurance contract negotiation and approval process completely. This lau...
Posted: Jun 02, 2023
Somerset Reinsurance Company (SRC), a subsidiary of Somerset Reinsurance Ltd (Somerset Re Ltd.) based in Bermuda, has been assigned an impressive Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR...
Posted: Jun 02, 2023
NIP Group, a business insurance and risk management intermediary, and AXA XL’s North America (NA) Programs have announced two new green endorsements available as part of their specialised insurance programs for contractors and growers. The n...
Posted: Jun 02, 2023
Everest Insurance, the insurance division of Everest Re Group, has appointed Mark Maritzen as Global Chief Underwriting Officer, effective immediately. Maritzen based in New York will report to Mike Karmilowicz, President and CEO of Everest Insura...
Posted: Jun 02, 2023
An updated 2023 Atlantic hurricane season forecast recently released by Colorado State University (CSU) envisions a “near-average” level of tropical cyclone activity in the Atlantic basin between June and November. Led by Phil Klotzbach, PhD, a no...
Posted: Jun 02, 2023
Arch Insurance North America has announced the hire of Rebecca Raisley as the Vice President of Distribution for its Accident & Health business unit. Raisley is a market veteran who brings over 20 years of A&H experience. She will report t...
Posted: Jun 02, 2023
Tower Hill Insurance Exchange has completed its Florida reinsurance program ahead of the June 1 renewal date, securing close to $2 billion in catastrophe reinsurance cover to protect it in excess of rating agency requirements, including all perils...
Posted: Jun 02, 2023
Global reinsurance broker Gallagher Re has announced the appointment of Daniel Veiga as CEO of Gallagher Re Brazil, Treaty Operation, effective immediately. Veiga will be based in Rio de Janeiro and work closely connected to São Paulo. Veiga’s app...
Posted: Jun 02, 2023
Velocity Risk Underwriters, the catastrophe-exposed property insurance specialist managing general agency (MGA) operation, is set to exit the homeowners insurance marketplace. Effective May 26th, Velocity Risk Underwriters has ceased writing new h...
Posted: Jun 02, 2023
International specialist insurer Hiscox, has appointed Jonathan Bloomer as Chair designate, subject to regulatory approval. This decision comes as part of a succession plan, with Bloomer set to join the Board on June 1, 2023, and succeed Robert Ch...
Posted: Jun 02, 2023
Countries that are more digitally advanced are likely to include lesser people that trust artificial intelligence (AI) technology. A new analysis by Swiss Re Institute shows that countries such as Germany, France, the UK, Canada and the US are in...
Posted: Jun 02, 2023
Africa’s agricultural insurance market has a large untapped potential for non-life insurers due to its low penetration and it is key to advancing food production security in the continent, according to the latest edition of the Africa Insurance Pu...
Posted: Jun 02, 2023
Ben Stilwell is starting a new position as Chief Risk Officer (CRO) for AXIS Re SE, the reinsurance underwriting unit of AXIS Capital, a global specialty underwriter and provider of re/insurance solutions. Based in London, Stilwell brings to his n...
Posted: Jun 02, 2023