Reinsurance News
Cyber insurance provider Coalition announced the appointment of John Coletti as the Head of Cyber Underwriting. Coletti brings with him a wealth of experience from his previous role as the Head of Cyber Reinsurance at Swiss Re, one of the world...
Posted: May 15, 2023
Actuarial Risk Management (ARM) has appointed Dave Bulin as Head of Investment Consulting to expand its focus to provide investment consulting services for insurance companies. Corwin Zass, Principal Founder at ARM, commented, “Dave has amaz...
Posted: May 15, 2023
P&C insurance holding company Kingstone Companies has reported a net loss of $5.1 million for the first quarter of 2023 on a combined ratio of 123.3%, which it attributes to a “difficult northeast winter.” This compares with a net loss of $9.2...
Posted: May 12, 2023
The Guernsey International Business Association (GIBA) has appointed Paul Sykes, Managing Director at Aon, as its new Chair. Earlier in February, GIBA named Sykes as Deputy Chair. Sykes has worked with Aon for 30 years and is the former Chairman o...
Posted: May 12, 2023
Third Point CEO Daniel Loeb has confirmed in a regulatory filing that he is no longer considering a potential acquisition to take specialty re/insurer SiriusPoint private, just weeks on from saying it would help improve the company’s financial pos...
Posted: May 12, 2023
Odyssey Group, part of Fairfax Financial Holdings, has released its financial statements for Q1 2023, revealing a rise in its combined ratio year-on-year. The Group has reported a combined ratio of 96.4% for Q1 2023, which is higher than the Q1 20...
Posted: May 12, 2023
AM Best announced the promotion of Carlos De la Torre to Managing Director of Operations of AM Best América Latina, S.A. de C.V., Institución Calificadora de Valores (AMBAL), its Mexico-based subsidiary. In this role, De la Torre will be responsib...
Posted: May 12, 2023
Bermuda-based Maiden Holdings has reported a net loss of $11.3 million for the first quarter of 2023, including an operating loss of $7.9 million, owing to losses across its AmTrust Reinsurance and Diversified segments. These figures compare with...
Posted: May 12, 2023
Fortitude Re has expanded its presence in Japan with the opening of its Tokyo Representative Office, and has appointed Hajime Kawafuji as its Chief Representative. Kawafuji is an experienced leader within the Japanese business community. He brings...
Posted: May 12, 2023
Global specialty re/insurer and subsidiary of FairFax Financial Holdings Limited, Brit Ltd., has recorded a combined ratio of 90.8% in its Q123 results. The combined ratio figure represents an improvement from the prior year’s quarter which...
Posted: May 12, 2023
Marine insurance provider, Skuld, has reported $32 million for the year ended February 20, 2023, with a positive technical result of $15 million. The combined ratio improved year-on-year to 97%, Skuld noted. A strong 2022/23 renewal with portfolio...
Posted: May 12, 2023
Global re/insurance group Chaucer has signed up to the UN Principles for Sustainable Insurance (PSI), which provides a global framework for the industry to address environmental, social and governance (ESG) risks and opportunities. The PSI was dev...
Posted: May 12, 2023
AXA XL, the property & casualty and specialty risk division of AXA, has announced the promotion of Tom Potter to Global Underwriting Manager. Potter brings to his new role strong knowledge and expertise in underwriting public, products, and em...
Posted: May 12, 2023
Mosaic has announced that it is underwriting primary cyber insurance globally and offering $20 million in capacity across its network of underwriting hubs. The specialty insurer has launched a new coverage in partnership with tech company Safe Sec...
Posted: May 12, 2023
Fairfax Financial Holdings Limited has announced its Q1 2023 financial results, reporting net earnings of $1,250 million in Q1 2023 compared to net earnings of $588.7 million in Q1 2022. Net premiums written by the property and casualty insurance...
Posted: May 12, 2023
Specialty insurer Trisura Group has announced its financial results for the first quarter of 2023, reporting a net income of $14.0 million and insurance revenue growth of 53%, which reflects sustained momentum across North America. According to th...
Posted: May 12, 2023
James Kent, Chief Executive Officer (CEO) of global reinsurance broker Gallagher Re, is retiring from the company on June 1st, so will not be taking up his new role within Gallagher. Back in March, the firm announced that Tom Wakefield would take...
Posted: May 12, 2023
Tata AIG General Insurance Company, the Indian joint venture of Tata and AIG, has been selected as the new lead insurer for Air India’s account, according to reports from The Indian Express. The publication reports that New India Assurance had bee...
Posted: May 12, 2023
Insurity, a provider of cloud-based software for insurance carriers, brokers, and MGAs, has partnered with VIPR Solutions to improve program business efficiencies. With a focus on the London market and US domestic P&C market, Insurity and VIPR...
Posted: May 12, 2023
Canopius Group has appointed Philip Weston as Casualty Treaty Underwriter, where he will report to Paul Western, Head of US Casualty Treaty, who joined the firm in June 2022. Weston has three decades of London market experience in both internation...
Posted: May 12, 2023
Australian insurer and reinsurer, QBE Insurance Group Limited, indicated an adverse development of $130 million on natural catastrophe events which primarily occurred in late 2022, including winter storm Elliot in North America and certain Austral...
Posted: May 12, 2023
Allianz has reported that its Q1 2023 operating profit increased 24.2% to €3.7 billion, which the firm attributes to strong performance in Life/Health and Property-Casualty business segments. Meanwhile, total business volume in Q1 2023 increased b...
Posted: May 12, 2023
Juan Andrade, President and CEO of Everest Re, described the company’s Q1 2023 results as excellent. The company had significant top-line growth. It saw an underwriting profit, operating income and net income that are all up meaningfully in the qu...
Posted: May 12, 2023
Gillian Davidson, Global Insurance Law Connect’s (GILC) Chair, highlighted the increasing importance of Environmental, Social, and Governance (ESG) considerations for insurers and the wider business community. In the fifth edition of GILC’s...
Posted: May 12, 2023
Specialist re/insurer Beazley has reported that Q1 2023 gross written premiums increased by 12% YoY to $1.37 billion as the firm remains “confident of delivering strong growth and profitability.” According to Beazley, its Cyber Risks c...
Posted: May 12, 2023