Reinsurance News
AM Best has suggested the strategic rationale for RenaissanceRe’s acquisition of Validus Re from AIG appears sound, as it will immediately enhance the firm’s already strong market position in many business lines in which it already successfu...
Posted: May 24, 2023
Labuan IBFC Incorporated Sdn Bhd, the official marketing agency for the Labuan International Business & Financial Centre (Labuan IBFC), has renewed its Memorandum of Understanding (MoU) partnership with Qatar Financial Centre Authority (QFCA)...
Posted: May 24, 2023
Analysts at BMO Capital Markets anticipate +30-40% reinsurance pricing-power increases at the mid-year Florida renewals, compared to reinsurance pricing of +28-38% at Jan 1. According to BMO’s analysts, Terms & Conditions remain “a...
Posted: May 24, 2023
Specialty re/insurer Ascot has appointed John Kuhn as Senior Vice President, Management Liability and Head of Large Public. In his new role, Kuhn will spearhead the development and execution of Ascot’s Large Public Directors & Officers (...
Posted: May 24, 2023
RenaissanceRe Holdings Ltd. (RenRe) revealed the pricing of its underwritten public offering of 6,300,000 common shares, set at a price of $192.00 per share, before underwriting discounts and commissions. The net proceeds from this offering will b...
Posted: May 24, 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With some major re/insurers having withdrawn from the Net-Zero Insurance Alliance (NZIA), the United Nations Environment Programme (UNEP) has stated that there’s a “fundamental and urgent” need for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 i...
Posted: May 24, 2023
In its Q1 results, Aviva reported that General Insurance gross written premiums (GWP) were up 11% at constant currency to £2.4bn, driven by disciplined management of inflationary pressures and a balanced mix across personal and commercial lines, a...
Posted: May 24, 2023
RenaissanceRe has entered into a definitive agreement to acquire American International Group, Inc.’s (AIG) treaty reinsurance platform, which ratings agency Fitch sees as favourable for the Bermuda-based reinsurer. The acquisition includes...
Posted: May 24, 2023
International insurance group Howden Group Holdings, The Sustainable Markets Initiative (SMI), and Resilient Cities Network (R-Cities) have announced a “first of its kind” top talent secondment programme that this year will place five insurance pr...
Posted: May 24, 2023
Ryan Specialty, an international specialty insurance firm, has announced that it has signed a definitive agreement to acquire Socius Insurance Services. Although the terms of the acquisition were not disclosed, it is expected to close in July 2023...
Posted: May 24, 2023
RenaissanceRe (RenRe) CEO Kevin O’Donnell highlighted the forward-looking nature of the company’s acquisition of Validus Re. RenRe is aiming to become a top-5 global property and casualty reinsurer with the acquisition of Validus and all its...
Posted: May 24, 2023
Specialty insurance firm Skyward Specialty Insurance Group appointed Anthony Kuczinski to its Board of Directors, effective August 1, 2023. Kuczinski brings with him over 38 years of industry expertise, making him a valuable addition to the board....
Posted: May 24, 2023
The venture capital arm of Munich Re Group has backed a $10 million Series A funding round for travel insurance start-up Faye. Munich Re Ventures led the round along with existing investors Viola Ventures and F2 Venture Capital. Additional investo...
Posted: May 24, 2023
The Texas Windstorm Insurance Association (TWIA) has now finalised its reinsurance and risk transfer for the 2023 wind season, with its tower placed to the targeted $4.508 billion after the insurer secured an additional $1.043 billion of tradition...
Posted: May 23, 2023
Caroline Wagstaff, CEO of the London Market Group, which represents the specialist insurance sector in the City, points out that London’s portion of the worldwide insurance market has been “stagnant”, hovering around 8% in recent...
Posted: May 23, 2023
Sapiens International Corporation has announced an agreement to integrate Microsoft Azure OpenAI and Azure Power Virtual Agents to provide generative AI solutions for insurance companies. According to the firm, this will allow customers to easily...
Posted: May 23, 2023
Sompo International has announced the opening of its first Canadian branch in Toronto, with Rohan Dixon serving as President and Chief Executive Officer, Commercial P&C Insurance, Canada. Dixon holds over two and a half decades of industry exp...
Posted: May 23, 2023
NFU Mutual, the leading rural insurer in the UK, has partnered with parametric insurance specialist Skyline Partners, insurer Markel, and broker Gallagher to introduce a groundbreaking insurance product designed specifically for dairy farmers. Thi...
Posted: May 23, 2023
Insurance broker Bishopsgate has announced it will utilise CyberCube’s Broking Manager software to “gain a competitive advantage” in the cyber insurance market. Broking Manager is the first Software-as-a-Service application CyberCube h...
Posted: May 23, 2023
With the industry witnessing an increase in frequency and severity of nat cat events throughout the last several years, and some of them even going on to become some of the costliest events ever recorded, Swiss Re Corporate Solutions’ Senior Struc...
Posted: May 23, 2023
DXC Technology has announced that Beat Capital Partners, a long duration investor specialising in the insurance industry, will implement DXC Assure Commercial and Specialty – DXC’s cloud-based insurance platform – for Beat’...
Posted: May 23, 2023
AdvantageGo, a commercial insurance and reinsurance software provider that is a part of Coforge, has announced a strategic alliance with Tremor, an online reinsurance pricing and placing platform. Tremor has modernised the way to place reinsurance...
Posted: May 23, 2023
AXA XL has announced the appointment of Vicky Roberts-Mills as Head of Energy Transition. Roberts-Mills will join AXA XL later this year. This new role was created to help bring the group to its full capabilities and enable the business to be an e...
Posted: May 23, 2023
“We expect we can fully deploy Validus Re into our portfolio on day one, and fully integrate it into our risk management system soon afterwards, diminishing execution risk,” says RenaissanceRe CEO Kevin O’Donnell, following the n...
Posted: May 23, 2023
J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc., announced that the company has entered into an agreement to acquire Kentro Capital Limited. The transaction is expected to close in Q4 2023, subject to certain closing conditio...
Posted: May 23, 2023