Reinsurance News
US primary insurance giant State Farm is ceasing to underwrite commercial and residential property in the State of California, citing exposure related issues and a challenging reinsurance market environment. The company said that its State Farm Ge...
Posted: May 29, 2023
The drought in Spain would be the largest claim ever paid by the Spanish agricultural insurance, according to professional services firm Aon. Agroseguro, the leading agricultural insurance provider in Spain, is bracing for an unprecedented payout...
Posted: May 26, 2023
Allianz Partners UK & Ireland has appointed Patricia Moon as its new Chief Executive Officer (CEO), effective March 1, 2023. Moon, who previously served as the CEO of Allianz Partners Japan, brings a wealth of industry experience and knowledge...
Posted: May 26, 2023
QBE and Sompo Holidngs have both announced their resignations as a member organisation from the Net Zero Insurance Alliance. This news takes the total now exited from the NZIA to nine major insurance and reinsurance players. The QBE and Sompo Hold...
Posted: May 26, 2023
AM Best revises the outlooks to positive from stable for Athene Holding Ltd. and its subsidiaries, a move that reflects the company’s continuing trend of improvement according to the rating agency. At the same time, AM Best affirmed Athene’s Finan...
Posted: May 26, 2023
White Mountains Insurance Group, Ltd., has announced that Weston M. Hicks has been elected Chairman of the Board. He succeeds Morgan Davis, who has retired from the Board effective immediately. Earlier this year, Hicks was elected as a director of...
Posted: May 26, 2023
Insurity, a provider of cloud-based software for insurance carriers, brokers, and MGAs, has released a guide aimed to help property and casualty (P&C) insurers reduce time spent on event response with intuitive and proactive data analysis. Glo...
Posted: May 26, 2023
Intangic MGA has called for a new approach to managing nation-state cyber attacks that moves away from the focus on catastrophic ‘Cyber Armageddon’ toward the higher frequency events happening every day. According to Intangic, outside...
Posted: May 26, 2023
Credit insurer Coface has recorded a strong start to the year with a €61.2 million net income for the first quarter of 2023. The net income figure represents a 17% increase from the €52.3 million net income figure that Coface reported in the first...
Posted: May 26, 2023
Everest Re Group, Ltd., a global underwriting leader in property, casualty, and specialty reinsurance and insurance solutions, has announced that Ricardo Anzaldua has been appointed Executive Vice President and Group General Counsel. This change i...
Posted: May 26, 2023
The introduction of rules to enforce a global minimum tax rate for large enterprises, which will include many insurance and reinsurance firms, is the highest priority topic for most tax leaders, according to Scott Slater of PwC Bermuda. Scott Slat...
Posted: May 26, 2023
Despite reporting a total comprehensive loss in 2022 of £1.3m, Helios Underwriting’s retained capacity for the 2023 open underwriting year increased by 34% to £238m, as the firm state it is “well positioned to maximise the opportunitie...
Posted: May 26, 2023
Two more big firms namely AXA and Allianz have announced their exit from the NZIA. This news comes in post comments made by John Neal the Chief Executive of Lloyd’s of London to Reuters urging the global climate alliance for insurers to make its m...
Posted: May 26, 2023
Catastrophe Indices & Quantification Inc. (CatIQ), a subsidiary of Zurich-based PERILS AG, has released the annual update of its Canadian insurance Industry Exposure Database (IED). According to the latest IED update, the Canadian insurance ma...
Posted: May 26, 2023
Full-stack homeowners insuretech Slide Insurance has completed its reinsurance program for the 2023 hurricane season, bolstering its ability to protect policyholders across Florida and South Carolina. According to Slide, its reinsurance program ex...
Posted: May 26, 2023
SiriusPoint Ltd., a global specialty re/insurer, has announced the appointment of Nestor Lopez to the Executive Leadership Team as Chief Technology Officer. Prior to this Lopez, was most recently Chief Information Officer. He joined SiriusPoint in...
Posted: May 26, 2023
Swiss Re is forecasting long-term mortality improvement trends for insurance. The company’s latest report, “The Future of life expectancy” shows that although, gains in human longevity have tapered off over the last decade, the next wave of improv...
Posted: May 26, 2023
Argenta Syndicate Management Limited (ASML) has appointed Hannah Wyatt as Direct and Facultative property underwriter, US & International. In her new role, based in London, Wyatt will be responsible for growing Argenta’s direct and facultative...
Posted: May 26, 2023
Pacific Life Re, a global provider of mortality, morbidity, and longevity reinsurance solutions, has appointed Matt Logan as its new VP, Finance in the Europe Business Unit. Logan will join Pacific Life Re Europe’s Finance team and play a cr...
Posted: May 26, 2023
FTI Consulting, Inc., a global business advisory firm, and BHB Dullemond, a Dutch corporate finance firm that specialises in transactions in insurance distribution, have announced a strategic alliance to provide M&A services to the insurance d...
Posted: May 26, 2023
Karen Clark & Company (KCC) has announced that the Synchrono Group (SynchronoSure) has licensed KCC’s full suite of US catastrophe models, delivered through the company’s new and advanced underwriting application. The new tool is powered by KC...
Posted: May 26, 2023
Lloyd’s third-party managing agent Asta appointed Seema Bradbury as Chief Risk Officer, while Liz Catchpole joins as an independent Non-Executive Director and Chair of the Audit Committee. These appointments follow strategic board changes made las...
Posted: May 26, 2023
The National Oceanic and Atmospheric Administration (NOAA) has forecast a near-normal level of activity during the 2023 Atlantic hurricane season, which officially commences on June 1st, 2023. For the upcoming Atlantic hurricane season, the NOAA s...
Posted: May 25, 2023
Homeowners insurtech Kin Insurance has announced the successful completion of its reinsurance program for the Kin Interinsurance Network in Florida. The program, covering the period from June 1, 2023, to May 31, 2024, offers extensive coverage of...
Posted: May 25, 2023
Global insurer SCOR is withdrawing from the Net-Zero Insurance Alliance (NZIA), CEO Thierry Léger announced during the company’s most recent Annual General Meeting. Léger also announced SCOR’s new sustainability commitments which include a new pol...
Posted: May 25, 2023