Reinsurance News
According to global GIS and geospatial technology company, RMSI, Cyclone Mocha has left extensive damage and destruction along the coastal region, impacting around 132,000 buildings and 3,000 telecom towers. RMSI states that the areas impacted wer...
Posted: May 18, 2023
During Conduit Re’s media call that took place earlier this afternoon following the release of the company’s Q123 results, Chief Underwriting Officer, Greg Roberts responded to a question asked by Reinsurance News in regards to the firm’s retroces...
Posted: May 17, 2023
Reinsurance pricing and placing platform provider Tremor Technologies has announced the launch of TremorTalk, an embedded end-to-end modern communications platform. Available within the Tremor marketplace, the new platform gives each reinsurer a d...
Posted: May 17, 2023
Florida’s Citizens Property Insurance Corporation’s Board met yesterday to debate the carrier’s reinsurance risk transfer plans, approving a lower-than-expected budget of $675 million, which Chief Financial Officer (CFO), Jennifer Mont...
Posted: May 17, 2023
Specialist re/insurer Beazley has released its latest Cyber Services Snapshot report, emphasising the critical importance of implementing a layered “Defence in Depth” cybersecurity strategy to safeguard organisations against the escala...
Posted: May 17, 2023
International insurtech bolttech is now valued at $1.6 billion after raising $196 million in its Series B round, led by Japanese insurer Tokio Marine. Other key investors included MetLife Next Gen Ventures, a MetLife subsidiary, and Malaysia’s sov...
Posted: May 17, 2023
Ambac Financial Group, a financial services holding company, has appointed Naveen Anand as President of Cirrata Group, Ambac’s insurance distribution division. Anand, a seasoned executive in the property and casualty insurance market, brings...
Posted: May 17, 2023
Chris Noyes has joined PartnerRe as a Client Partner on the firm’s US Life & Health team. He joins PartnerRe from Reinsurance Group of America (RGA) where he most recently served as Vice President of Business Development, U.S. Mortality Market...
Posted: May 17, 2023
Root, Inc. has announced the promotion of two senior leaders and the addition of a Business Development leader. Megan Binkley, formerly interim Chief Financial Officer (CFO), has been named CFO, while Jon Allison, formerly Root’s General Counsel,...
Posted: May 17, 2023
Resolution Life US Holdings Inc. (Resolution Life), a subsidiary of Resolution Life Group Holdings Limited, has announced its agreement to acquire Farmers New World Life Insurance Company (FNWL), the life insurance subsidiary of Farmers Group, Inc...
Posted: May 17, 2023
Resolution Life US Holdings Inc. (Resolution Life), a subsidiary of Resolution Life Group Holdings Limited, has announced a strategic reinsurance agreement with Farmers New World Life Insurance Company (FNWL), the life insurance subsidiary of Farm...
Posted: May 17, 2023
Insurance brokerage and risk management firm, Risk Strategies, has acquired Combined Underwriters of Miami – a full-service independent insurance agency that provides commercial and personal insurance products to clients in South Florida. Te...
Posted: May 17, 2023
Bloomberg Intelligence (BI) warns that insurers seem poorly prepared for the increased loss frequency and intensity wrought by flooding and climate change as this year’s North Atlantic hurricane season approaches, with pricing and risk appet...
Posted: May 17, 2023
Global insurance brokerage Arthur J. Gallagher & Co. announced that its subsidiary, Artex Risk Solutions, Inc., has completed the acquisition of Allied Risk Management, based in Dublin, Ireland. The terms of the transaction have not been discl...
Posted: May 17, 2023
InnSure, a nonprofit dedicated to harnessing the power of the insurance industry to combat climate change, has added three industry changemakers to its Board of Directors. Joining the company’s Board of Directors are: Francis Bouchard, a career in...
Posted: May 17, 2023
German reinsurance giant Munich Re achieved significant growth in its natural catastrophe book at increased prices at the April 1st, 2023, reinsurance renewals, with Christoph Jurecka, Chief Financial Officer (CFO), stating that the company will g...
Posted: May 17, 2023
Germany-based insurtech wefox has raised a total of $110m with a $55m credit facility from J.P. Morgan and Barclays, the remaining $55m in equity was raised from both new and existing investors as a second closing of the Series D funding at a valu...
Posted: May 17, 2023
Global insurance broker Lockton has appointed James Bannister as the Head of Global War, Terrorism & Political Violence, effective immediately. He will report to Matt Humphries, the Head of Crisis Management, based in London. In his new positi...
Posted: May 17, 2023
Analysts at AM Best have reported wide variation in the impact of the transition to IFRS 17 on insurers and reinsurers, with the effects being far more pronounced in the life segment than in non-life. For re/insurers that report under Internationa...
Posted: May 17, 2023
CHL, the parent company of Conduit Re, a pure-play Bermuda-based reinsurance business, announces its trading results for Q1 2023. Ultimate premiums written for Q1 2023 stand at $443.2 million, showing a 50.7% increase on Q1 2022. Gross premiums wr...
Posted: May 17, 2023
Zurich-based catastrophe insurance data provider PERILS AG has provided a second estimate for Cyclone Gabrielle which brought extreme rainfall and strong winds to the North Island of New Zealand during the period of 11 to 17 February 2023, pegging...
Posted: May 17, 2023
Financial technology and insurance company Acrisure has signed an agreement to acquire Portuguese insurance broker Universalis. According to Acrisure, the transaction is under review by the Portuguese Regulator (ASF) and will complete subject to t...
Posted: May 17, 2023
In their 2022-23 financial year results, West P&I Club has reported an underwriting profit of $8 million. At the same time, the firm also recorded $293.2 million in gross earned premiums. West also achieved a 96.7% combined ratio for the finan...
Posted: May 17, 2023
International General Insurance Holdings Ltd. (IGI) has reported its financial results for Q1 2023, where the combined ratio of the company was 78.4%, compared to 71.8% for Q1 2022. The increase was primarily the result of a higher loss and loss a...
Posted: May 17, 2023
Zurich Insurance Group has reported that Q1 2023 P&C insurance revenue was up 11% on a like-for-like basis to $9.41 billion, driven by strong growth in commercial insurance and a further improvement in pricing. According to Zurich, all regions...
Posted: May 17, 2023