Reinsurance News
Tech-enabled E&S MGA, Ledgebrook, has appointed Adrian Copland as Chief Operating Officer (COO). He joins the firm from insurtech Fairmatic, where he previously served as COO. Overall, he brings decades of industry experience towards the role...
Posted: May 19, 2023
Fannie Mae has executed its fifth Credit Insurance Risk Transfer (CIRT) transaction of 2023. As part of the firm’s ongoing effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market, CIRT 2023-5 transferred $42...
Posted: May 19, 2023
Demand for parametric insurance is on the rise as more people have started to recognise that these solutions can provide protection for things and events that could not be covered by indemnity insurance, said Peter Lacovara, Head of Commercial at...
Posted: May 18, 2023
Kin Insurance has reported a gross written premium (GWP) of $83.2 million for the first-quarter of 2023, up 54% from the year-ago $54.1 million. The GPW was positively impacted by $33.5 million in new bound premium, Kin said. Kin’s positive operat...
Posted: May 18, 2023
U.S. primary insurer Allstate has announced estimated catastrophe losses for April of $799 million or $631 million, after tax. April cat losses include 12 events estimated at $872 million, with approximately 60% of the losses related to two wind a...
Posted: May 18, 2023
Allianz Commercial has announced that it has made a number of appointments to form a new financial lines team that will operate across three new regional hubs. The new team will focus solely on Allianz’s Directors & Officers and Professional I...
Posted: May 18, 2023
Markel Corporation has announced that it will change its name to Markel Group Inc. on Friday, May 26. The reason for this change is to provide a greater definition of the nature of their holding company. This includes three engines of insurance, i...
Posted: May 18, 2023
Specialist re/insurance broker Miller has announced the appointment of Lee Bright as an Account Executive in its Direct Marine team. Joining the company towards the end of November, Bright will focus on Marine Hull and report to Nick Summers, Head...
Posted: May 18, 2023
A consortium of Republican state attorneys general (AG) has penned a letter to insurers of the Net-Zero Insurance Alliance (NZIA) raising concerns about the legality of their commitments to collaborate with other insurers and asset owners in order...
Posted: May 18, 2023
Legal & General has announced a £2.7 billion buy-in with the British Steel Pension Scheme, its final step to fully insure the £7.5 billion scheme which includes the benefits of 67,000 retired and deferred members. This is the fourth and final...
Posted: May 18, 2023
Global re/insurance player Everest Re Group, Ltd., has announced that following shareholder approval at the Company’s Annual General Meeting held yesterday, it will change its name to Everest Group, Ltd., and will trade under the new ticker symbol...
Posted: May 18, 2023
Swiss Re estimates that the US alone has approximately $200 billion in demand for catastrophe (cat) reinsurance, and with climate change, demographic shifts, and inflation expected to persist, there is projected to be a 10-15% increase in demand b...
Posted: May 18, 2023
After two years of hard market conditions, the U.S. directors and officers (D&O) insurance market stabilized toward the end of 2022. AM Best noted that pricing increases moderated and renewal pricing was flat on average indicating the stabilis...
Posted: May 18, 2023
Insurance broker Howden has made three new senior hires to its CAP’s Surety division, with the addition of Kevin Barrett, Patrick Shields, and Warren Withfield, each based in London. These new appointments demonstrate Howden CAP’s ongoing strategy...
Posted: May 18, 2023
Aegon, a Netherlands-headquartered multinational life insurance, pensions and asset management company, has released its trading update for the first quarter of 2023, stating operating capital generation, before holding funding and operating expen...
Posted: May 18, 2023
Mitiga Solutions, a Barcelona-based climate-tech company specializing in science-based risk modeling, has successfully raised €13.25 million in a Series A funding round. The investment, led by Kibo Ventures in collaboration with Microsoft Climate...
Posted: May 18, 2023
The Insurance Council of Australia (ICA) has appointed two new non-executive members to the Board, Zurich’s Justin Delaney and Ram Kangatharan from Auto & General. They have both started their new role as of May 16, 2023, and will complete a 1...
Posted: May 18, 2023
AXIS Capital Holdings Limited has announced the appointment of Rebecca O’Kill as Chief Data & Analytics Officer, effective immediately. O’Kill will report to AXIS Chief Underwriting Officer Dan Draper and will be based in London. In this role,...
Posted: May 18, 2023
Policyholders with even one unresolved critical vulnerability are 33% more likely to experience a cyber claim, according to a recent report by cyber insurance provider Coalition. The 2023 edition of the Cyber Claims Report also confirmed human err...
Posted: May 18, 2023
Celia Iovine joined Bermuda-based insurer and reinsurer, Aspen Insurance Group, as Vice President, Outwards Reinsurance Placement Manager. Prior to Aspen, Iovine served as AVP, Ceded Reinsurance & Retro at Everest Reinsurance Company. Iovine h...
Posted: May 18, 2023
Generali Malaysia aims to become one of the largest general insurers and emerging life insurer in Malaysia following its business integration with Affin Bank Bhd. Generali Group successfully acquired a controlling majority in AXA Affin joint ventu...
Posted: May 18, 2023
Allianz Indonesia has appointed Alexander Grenz as Country Head, President Director & CEO. Grenz has a ‘strong’ track record of working in the insurance industry. Grenz is skilled in Distribution, Operation and IT, DigitalTransform...
Posted: May 18, 2023
Specialist re/insurance broker Miller has announced the appointment of Pene Reuben as Senior Client Executive in its Marine Liability Reinsurance team. Miller states that Reuben’s appointment is part of the Marine team’s continued growth amb...
Posted: May 18, 2023
Eurobase has announced that Himalayan Re has gone live with Synergy2, its best-of-breed reinsurance platform. Eurobase has maintained its 100% success rate for implementations and delivered an integrated, complete, end-to-end reinsurance administr...
Posted: May 18, 2023
Eurobase has announced that Himalayan Re has gone live with Synergy2, its best-of-breed reinsurance platform. Eurobase has maintained its 100% success rate for implementations and delivered an integrated, complete, end-to-end reinsurance administr...
Posted: May 18, 2023