Reinsurance News
Seema Bradbury has joined Asta Capital Limited, a third-party managing agent at Lloyd’s, as Chief Risk Officer and Executive Director. Bradbury joins this newly created role in Asta Capital from AXIS (AXIS Capital), where she served as the Group R...
Posted: May 31, 2023
Historic rate increases within the P&C insurance industry have “pushed” a record-high volume of shoppers into the online marketplace to seek new quotes and switch carriers. Research from J.D. Power’s 2023 US Insurance Digital Experience Study...
Posted: May 31, 2023
Zimre Holdings Limited has released its Q123 results. In a statement released by the company, it notes that the first quarter of 2023 saw the global economy heading for a “potential financial crisis” as financial markets and the banking sector wer...
Posted: May 31, 2023
Reinsurance broker Gallagher Re has made senior appointments in China, with a new CEO for the Mainland China and Hong Kong business, as it hired Jia Lou from rival Guy Carpenter to take on the role. Jia Lou is a well-known figure in the China insu...
Posted: May 31, 2023
The Florida Hurricane Catastrophe Fund (FHCF) expects $17 billion in maximum potential liability for the contract year June 1, 2023 to May 31, 2024. This consists of an estimated total liquid resources of approximately $7.2 billion, consisting of...
Posted: May 30, 2023
Global insurance broker Lockton has announced the addition of Jason Sandler and Craig Taylor to its Intangible Asset and Contingent Liability practice. This division operates within the broader Transaction Liability practice and focuses on providi...
Posted: May 30, 2023
Global broker WTW has announced the launch of a financial product targeting clients looking to protect their intangible assets. Described as a first-of-its-kind product, WTW said its Intangible Asset Protection (IAP) looks to meet client demand an...
Posted: May 30, 2023
Cyber MGA Corvus Insurance has unveiled Corvus Signal, a risk prevention solution which the firm says has been shown to reduce cyber breach frequency and cost by up to 20%. Corvus states that the announcement comes amid increasing market activity...
Posted: May 30, 2023
FG Financial Group reported that its reinsurance division posted net underwriting profit in the first quarter of 2023 of over $1 million. According to the firm, the profit was driven by strong profitable growth in net written premiums as the compa...
Posted: May 30, 2023
European boutique Managing General Agent (MGA), Alta Signa Europe B.V. appointed Sytse Huidekoper as the Director and Officer (D&O) and Financial Institutions (FI) Manager for the Benelux region. This strategic move further strengthens Alta Si...
Posted: May 30, 2023
Verisk a global data analytics and technology provider, has announced that it has acquired Morning Data, a supplier of state-of-the-art software to brokers and managing general agents in London and across the globe. This acquisition enables Verisk...
Posted: May 30, 2023
JP Morgan analysts assert that substantial progress has been witnessed in the underlying earnings potential of reinsurers during 2023, indicating a notable improvement. Substantial evidence supports their belief in the considerable improvement wit...
Posted: May 30, 2023
State National, the Markel owned program and fronting specialist is selling one of the shell insurance companies it has used for certain catastrophe exposed programs to managing general agent (MGA) and cat underwriting specialist Velocity Risk. Ve...
Posted: May 30, 2023
The results of the latest Applied Rating Index by Applied Systems shows that average premiums for both Personal Auto and Personal Property lines increased in Canada year over year in the first quarter of 2023. Quarter over quarter, premium rate ch...
Posted: May 30, 2023
Professional services firm Aon’s Andy Marcell emphasises that as the industry approaches the June and July renewals, the significance of reinsurer relationships are “more important than ever”. Reinsurers have become increasingly...
Posted: May 30, 2023
Launch Underwriters, a recently established program administration platform, has entered the insurance program space, positioned to attract best-in-class underwriting teams. The program offers a broad solution for entrepreneurial, specialty-focuse...
Posted: May 30, 2023
Agam Capital, a New Jersey-based insurance solutions provider, has promoted Gaurav Rastogi, Chief Actuary of Agam Capital, to Partner. Rastogi, who joined the company in 2020, will remain focused on the continued development of Agam’s actuarial fu...
Posted: May 30, 2023
Germany’s Talanx Group is set to become the third-largest P&C insurer in Latin America after acquiring a number of Liberty Mutual’s businesses in Brazil, Chile, Colombia, and Ecuador, through its subsidiary HDI International. The purchase pric...
Posted: May 30, 2023
Global reinsurance company SCOR has successfully sponsored a new catastrophe bond, Atlas Capital DAC Series 2023-1, which will provide the firm with multi-year risk transfer capacity of $75 million to protect itself against named storms in the U.S...
Posted: May 30, 2023
Global reinsurance business Ariel Re has announced the appointment of Katie Partington Howarth as its Chief Capital Officer (CCO). This newly created role will be pivotal in shaping Ariel Re’s capital strategy and overseeing investor relatio...
Posted: May 30, 2023
Lloyd’s announced its resignation as a member organisation from the Net Zero Insurance Alliance with immediate effect on Friday. This makes it the tenth major insurance and reinsurance player to offer its resignation since last week. Lloyd’s...
Posted: May 30, 2023
Tom Duke, a veteran of Scotland’s high-growth technology sector, has joined Broker Insights as Chief Operating Officer. Duke has over two and a half decades of experience working in technology companies, having worked with several fast-growing bus...
Posted: May 30, 2023
Global reinsurance firm SCOR has named François de Varenne as its new Group Chief Financial Officer and Deputy CEO. He had been the Interim CEO of SCOR from January 26th 2023, to April 30th this year, while he also holds the position as SCOR’...
Posted: May 30, 2023
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, is set to acquire the leading independent operator in its field in Israel, a brokerage named Re Solutions. Re Solutions was founded in 2010 and has been Guy Carpenter’s correspondent br...
Posted: May 30, 2023
Many life insurers have invested in underwriting automation to improve their services and grow their business, but manual underwriting is still essential, especially when reviewing referred cases; yet, the administrative burden that comes with it...
Posted: May 30, 2023