Reinsurance News
Flood Re, the joint initiative between the UK government and the insurance industry, has launched the ‘Be Flood Smart’ campaign in partnership with the Environment Agency. Studies have shown homeowners face average costs of £32,000 to fix flood da...
Posted: May 22, 2023
Specialty re/insurance group Chaucer, has announced the promotion of Simon Tighe to Group Head of Environmental, Social, and Governance (ESG), in addition to his role as Group Head of Investments & Treasury within the firm. Tighe has been desc...
Posted: May 22, 2023
British Managing General Agent (MGA), Pen Underwriting has announced the appointment of Catriona Thomson as Chief Financial Officer (CFO), effective from July 1, subject to regulatory approval. Her appointment follows the earlier announcement in M...
Posted: May 22, 2023
P&C underlying growth continues to be constrained by monetary policy with “no relief in sight”, contracting -1.5% YTD compared with U.S. gross domestic product (GDP) at 1.3%, suggests a new report from Triple-I. According to the fi...
Posted: May 22, 2023
Castel Underwriting Agencies has appointed Anthony Williams as Chief Risk Officer. Prior to joining Castel, Williams served as interim Chief Risk Officer at IQUW and Chief Risk Officer at CNA Hardy. Williams held Chief Risk Officer and Group Actua...
Posted: May 22, 2023
Risk Retention Groups (RRGs) have struggled to turn an underwriting profit amid strong growth over the past decade, however favourable 2022 financial results may represent a turning point, according to a recent report by ALIRT Insurance Research....
Posted: May 22, 2023
Local authorities are foreseeing economic losses in the billions of Euros related to floods in Italy due to the massive disaster, while the insurance industry is expected to bear a smaller portion of the overall cost due to an existing protection...
Posted: May 19, 2023
Arthur J. Gallagher & Co’s subsidiary, Risk Placement Services, Inc. (RPS), has acquired Houston, Texas-based RHP General Agency, Inc. RHP is a licensed managing general agency specialising in residential property insurance for clients t...
Posted: May 19, 2023
Stonybrook Capital & Risk Management has promoted Padraig Flynn to Vice President. Based in New York, Flynn joined Stonybrook Capital in 2018. Throughout his time at the company, he has worked on several capital raises and over three quarters...
Posted: May 19, 2023
In a challenging market environment, the reinsurance industry is grappling with significant hurdles as catastrophe losses surge and the reliance on external capital becomes increasingly vulnerable, according to Swiss Re’s report titled ̶...
Posted: May 19, 2023
Nirvana, the Media, Tech and Cyber-focussed managing general agent (MGA), has announced it has chosen to partner with Insureflow, an insurance software solutions provider, to help drive efficiencies and grow the business. Chanrai, the Founding Dir...
Posted: May 19, 2023
Acrisure Re, a full-service re/insurance intermediary and capital management advisor, has announced the appointment of Susan Holliday as an Independent Non-Executive Board Director. Through her career she has used her extensive knowledge of capita...
Posted: May 19, 2023
Heritage Insurance Holdings Inc., a super-regional property and casualty insurance holding company has announced the full placement of its 2023-2024 indemnity-based, catastrophe excess-of-loss reinsurance program. This program is for its statutory...
Posted: May 19, 2023
The European Commission has given the green light to a €1.3 billion Polish scheme aimed at providing support to agricultural producers by covering insurance premiums for selected vegetable products and livestock species at risk of damage. This dec...
Posted: May 19, 2023
In line with its P&C-focused strategy, Sampo plc announced a strategic review of Mandatum’s role within the group on December 7th, 2022. After assessment of options, the Board resolved to propose a demerger of Sampo to separate Mandatum. At th...
Posted: May 19, 2023
Insurance and reinsurance brokerage, Marsh McLennan, elected 14 directors in its annual meeting of stockholders. The meeting marked the election of the entire slate of director nominees for the 2023 term. The 14 elected directors include Anthony K...
Posted: May 19, 2023
Tysers parent AUB Group, has announced that it has successfully raised A$150 million to support its “attractive M&A pipeline”, after completing an oversubscribed placement of 6.25 million new fully paid ordinary shares at A$24.00 per share. Ac...
Posted: May 19, 2023
P&C re/insurer Sompo International has reported a 2022 underwriting income of $532 million, up 25% YoY due to margin improvement and top-line growth. For the fiscal year 2023, Sompo anticipates underwriting profit to increase to $789 million,...
Posted: May 19, 2023
Tokio Marine’s international business posted a 29.8% rise in total net written premiums (NPW) to 2,570.4 billion yen at FY22, compared with 1,980.6 billion yen a year earlier. North America produced the strongest performance with 1,754.3 billion y...
Posted: May 19, 2023
Lloyd’s global re/insurer MS Amlin has published its results for the financial year 2022 reporting an underwriting profit of £63 million, but its investment loss of £91 million resulted in a net loss of £144 million. The re/insurer’s underwriting...
Posted: May 19, 2023
Karen Tan is set to start a new position at Swiss Re as CRO Life & Health Reinsurance, Member of the L&H EC. Tan joined Swiss Re as Chief Risk Officer for Asia Pacific in May 2014. In this role, her team worked to ensure that the business...
Posted: May 19, 2023
Insurance solutions provider Orion180 has successfully filled its $455 million excess-of-loss (XOL) reinsurance tower for first and second event coverage this hurricane season for its Orion180 Insurance Co. homeowners business. Orion180 Insurance...
Posted: May 19, 2023
The National Oceanic and Atmospheric Administration (NOAA) and the National Science Foundation (NSF) have announced the creation of an Industry-University Cooperative Research Center (IUCRC) focused on modelling catastrophic impacts and risk asses...
Posted: May 19, 2023
The McGowan Companies, a provider of specialised insurance programs, has acquired the assets of Conway Holdings, LLC, Conway E&S, Inc., and Conway Alternative Risk Solutions, LLC., collectively known as Conway. US-based Conway is a national, w...
Posted: May 19, 2023
Insurance professional Kevin Bouchard has joined Fortegra, global specialty insurance subsidiary of holding company Tiptree, as Senior Vice President, Specialty. Bouchard brings two decades of experience within the finance and property & casua...
Posted: May 19, 2023