Reinsurance News
2022 is the year that saw unprecedented progress in climate reporting regulation around the world. The significant developments in the last year mean that climate reporting will soon become mandatory in many jurisdictions. In the European Union, t...
Posted: May 16, 2023
Liberty Specialty Markets (LSM), a division of Liberty Mutual Insurance, has announced the appointment of Myriem Houfaf Khoufaf as Claims Manager for France, effective 1st May 2023. She is taking over the role from Serge Davidoux, Claims Manager,...
Posted: May 16, 2023
International specialist insurer Hiscox, has appointed Beth Boucher as Independent Non Executive Director, subject to regulatory approval. Boucher brings over 25 years of industry experience towards the role. Throughout her career, she has led glo...
Posted: May 16, 2023
Bregal Sagemount and FTV Capital, two leading growth-focused private equity firms, have announced a strategic growth investment in Neptune Flood Incorporated. Both Sagemount and FTV will acquire a substantial minority stake in the firm, with Neptu...
Posted: May 16, 2023
AM Best is maintaining its negative outlook for the Spanish non-life insurance segment. The company has released a report that highlights the factors that support this negative outlook, written by Jose Berenguer and Mathilde Jakobsen. The report f...
Posted: May 16, 2023
Ebix Europe has announced the launch of a “new and improved” electronic placing solution named PlacingHub, following the announcement that the original London market electronic placement platform PPL will end on the 31st of December, 2...
Posted: May 15, 2023
CFC, the specialist insurance provider has appointed Michael Phillips as Cyber Practice Leader. In the role, Phillips will be based out of New York. As Cyber Practice Leader, Phillips will drive CFC’s cyber underwriting strategy and broker develop...
Posted: May 15, 2023
Specialty insurer and reinsurer Ascot announced the launch of its new portal designed exclusively for Lloyd’s coverholders. The portal will initially be introduced with a coverholder based in Australia, marking a significant step forward for...
Posted: May 15, 2023
Goosehead Insurance, an independent personal lines insurance agency, has acquired more than 15,000 insurance policies for $55.5m in cash through an agreement with Vivint Smart Home. According to the announcement, this purchase will allow the compa...
Posted: May 15, 2023
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-compliant multilateral insurer and member of the Islamic Development Bank (IsDB) Group, has announced the signing of a $42 million Facultative Reinsurance...
Posted: May 15, 2023
Berne Union, the global association for the export credit and investment insurance industry, has reported that its market showed “strong growth” across business lines in 2022 and a fall in claims paid overall. Looking at the data, analysts conclud...
Posted: May 15, 2023
Jon Nielsen has been appointed as the CFO designate of Great-West Lifeco Inc., effective September 5, 2023, and will assume the role of Chief Financial Officer in the first quarter of 2024. Garry MacNicholas, the current CFO, has made the decision...
Posted: May 15, 2023
Corvus Insurance, an AI-powered cyber specialty insurer, has announced its US “industry-leading” 2022 ultimate loss ratio of 36%. According to the announcement, this figure has been independently verified and includes all lines and all risk capita...
Posted: May 15, 2023
AXA XL Insurance, a division of global insurer AXA, has expanded its cyber capabilities in Europe and Australia with the addition of 10 cyber underwriting experts to the team across both regions. Sylvie Verdier joins the Switzerland team from Chub...
Posted: May 15, 2023
Following the launch of Next Gen, Placing Platform Limited (PPL) has announced its plans for the decommissioning of the original PPL V3 platform, and to confirm that the shutdown of the Ebix system will occur, as originally planned, at the end of...
Posted: May 15, 2023
In its Q123 results, FG Financial Group has reported that net reinsurance premiums earned increased to $3.7 million, from $2.5 million in the prior year quarter. According to the firm, its reinsurance operations benefited from continued increase i...
Posted: May 15, 2023
Hiscox, a specialist global insurer has promoted Lorraine Mackey to the role of Line Underwriter – Oil and Gas, and Louis Cozon to the role of Line Underwriter – Power and Renewables. The company has confirmed that they will both lead Hiscox...
Posted: May 15, 2023
Oxbridge Re Holdings, a provider of reinsurance solutions primarily to property & casualty insurers, has reported a net income of $142,000 in the first-quarter of 2023, compared with a net loss of $387,000 in the prior year quarter. The compan...
Posted: May 15, 2023
Global reinsurance broker Gallagher Re has appointed Ian Kerton as CEO of its UK operations, replacing Tom Wakefield, who is to succeed James Kent as global CEO of Gallagher Re. Throughout his three-decade-long career, Kerton has held multiple rol...
Posted: May 15, 2023
Global re/insurer AXA has released its financial report for Q1 2023, with the company’s gross written premiums and other revenues increasing by 1% to €31.8 billion. Alban de Mailly Nesle, the Chief Financial Officer of AXA, said, “AXA performed we...
Posted: May 15, 2023
The Talanx Group has disclosed that its Group net income increased 31% in Q1 of 2023 to €423 million, while the firm’s overall combined ratio also improved at 93.5%. Talanx’s insurance revenue in the quarter grew to €10.7 billion, chie...
Posted: May 15, 2023
Specialty managing general agent (MGA) Fiducia has announced the launch of its new Cargo U-Trade product, and it is now available on the Acturis platform. The new product encompasses all types of goods and can extend to include stock in the UK and...
Posted: May 15, 2023
According to leaders from ZestyAI, an AI-enabled property and risk analytics platform, property and casualty (P&C) underwriting can be significantly improved using AI. In a recent discussion with McKinsey, executives from ZestyAI noted how ins...
Posted: May 15, 2023
UK regulator the Prudential Regulation Authority (PRA) has reported that part of its new business plan for 2023/24 will involve assessing high levels of reinsurance use and of concentration risk in certain areas. This will include paying close att...
Posted: May 15, 2023
As part of its annual institutional investor study, EQuilibrium, Nuveen, a financial planning company states that strategic and tactical asset allocations are evolving, private markets continue to be in favour, and impact investing with balance sh...
Posted: May 15, 2023