Reinsurance News
Three out of the four major European reinsurers reported better technical results in Q1 of 2023 despite a high natural catastrophe charge, suggest analysts at Fitch Ratings. Fitch explains that better pricing and portfolio adjustments made up part...
Posted: May 25, 2023
Odyssey Reinsurance Company (OdysseyRe) has announced the appointment of Christopher Shafer as the Vice President and Head of North American Cyber Underwriting. Shafer will be responsible for assisting the company’s business partners in effe...
Posted: May 25, 2023
Leading financials services company Global Atlantic Financial Group and life insurer MetLife, Inc. have entered into a reinsurance agreement valued at $19.2 billion. The deal will see Global Atlantic reinsuring a diversified portfolio of MetLife&#...
Posted: May 25, 2023
Arbol, a global climate risk solutions platform, and leading insurer, Beazley, have announced the launch of specialist parametric weather products to the US market. With the launch this now means that cutting-edge products are available for a rang...
Posted: May 25, 2023
With some major re/insurers having withdrawn from the Net-Zero Insurance Alliance (NZIA), the United Nations Environment Programme (UNEP) has stated that there’s a “fundamental and urgent” need for collaboration with the global insurance industry...
Posted: May 25, 2023
A global climate alliance for insurers needs to make its membership rules less prescriptive or risk falling apart, John Neal, the Chief Executive of Lloyd’s of London told Reuters. With some major re/insurers having withdrawn from the Net-Zero Ins...
Posted: May 25, 2023
International broking business Brokerslink has announced the appointment of three new Regional Managers for its network, reinforcing its presence in key regions across the globe. The new Regional Managers are Doosuk Kang in the Asia-Pacific region...
Posted: May 25, 2023
Argo Group International Holdings, Ltd., has announced that it has come to an agreement with North American insurer, Trisura Group, Ltd., to support its surety underwriting operations as it looks to revamp and grow its surety business. Through the...
Posted: May 25, 2023
Lloyd’s has appointed Rachel Turk as Chief Underwriting Officer (CUO), reporting to Chief of Markets Patrick Tiernan. In her new role, Turk will be responsible for managing the performance of the Lloyd’s market, including leading the underwriting...
Posted: May 25, 2023
New Zealand insurer Tower Limited has reported a loss of $5.1 million for the half year to March 31, 2023, as costs related to large catastrophic events rose to $33.9 million in this period. The loss compares to a year-ago profit of $3 million, th...
Posted: May 25, 2023
IQUW, a property, commercial and specialty re/insurer has promoted Robbie MacDonald to Head of Property Direct and Facultative (D&F), and Tom Hennessey to Head of Property, Delegated Authority (DA). In their new roles, they will both be based...
Posted: May 25, 2023
Italy-headquartered insurer Generali has reported that gross written premiums increased to €22.2 billion in Q1 of 2023, driven by robust growth in the P&C segment, which was up 10.1%. Meanwhile, Life net inflows were €-190 million, with net ou...
Posted: May 25, 2023
Specialty insurer and reinsurer, Beazley, has sponsored its second cyber catastrophe bond, adding $20 million of additional reinsurance protection via the issuance of Cairney II, as reported by our insurance-linked securities (ILS) focused sister...
Posted: May 25, 2023
WTW, a global advisory, broking and solutions company, has introduced a new financial product targeting clients intending to protect and leverage their intangible assets by considering a transfer of the associated risks. An intangible asset is one...
Posted: May 25, 2023
Westfield Specialty, a US property & casualty insurer continues to expand its footprint with the addition of a market-leading environmental underwriting team and its sixth line of business. The company has confirmed that Dennis Willette, Senio...
Posted: May 25, 2023
Verisk has announced that Ted Gregory and Alex Mican will be assuming new leadership roles in the PCS business unit of the organization. Mican and Gregory are both market veterans each having a decade’s worth of experience at Verisk. They ha...
Posted: May 25, 2023
Re/insurance broker Miller has appointed Kate Enright as Head of Data. As Head of Data, Enright will be responsible for building out the firm’s data and analytics capability, to effectively unlock data value, as well as drive new client solutions,...
Posted: May 25, 2023
MIB has announced the election of Sarah J. VanBeck as Chair of its Board of Directors for 2023-2024, and Bruce Parker as Vice Chair, as well as the re-election of two incumbent Directors. Effective with MIB’s May 19th Board Meeting VanBeck w...
Posted: May 25, 2023
Tallarna, an award-winning climate technology company for the built environment, has announced that its wholly-owned subsidiary insurance broker, Kellclair, has received authorisation from the Financial Conduct Authority (FCA) to advise, arrange,...
Posted: May 25, 2023
Allianz Holdings has announced that Steve Treloar, CEO for Allianz Personal, and Fernley Dyson, chief financial officer, are stepping down from their respective roles to pursue new opportunities. Treloar first joined LV= as Managing Director in Ma...
Posted: May 24, 2023
Encova Mutual Insurance Group and Pan American Life Insurance Company have made a joint announcement that Encova Life Insurance Company, an affiliate of the Encova Mutual Insurance Group, will be acquired by and merged into PALIC. TJ Obrokta Jr, t...
Posted: May 24, 2023
Moody’s affirms RenaissanceRe’s ratings following the announced acquisition of Validus Reinsurance from American International Group, Inc. and said the outlook looks stable. RenaissanceRe has agreed to acquire Validus Re for $2.985 billion in cash...
Posted: May 24, 2023
Anders Holm has been promoted to the role of Chief Actuary at SiriusPoint International. In the role, Holm will oversee the Stockholm Actuarial team, which uses its expertise in finance and statistics to forecast risks and liabilities. At the same...
Posted: May 24, 2023
Cyber insurance provider Cowbell has announced significant enhancements to its underwriting capabilities through the appointment of new team members in the UK and the US. Claud Bilbao, a seasoned underwriter with extensive experience in the cyber...
Posted: May 24, 2023
The global cyber and errors & omissions (E&O) insurance market has transitioned into a buyer-friendly environment in early 2023, following a period of substantial rate increases, suggests professional services firm Aon. This shift is attri...
Posted: May 24, 2023