Reinsurance News
Validus Re, the Bermuda headquartered global reinsurance arm of American International Group (AIG), grew its gross premiums written by an impressive 40% in the first-quarter of 2023, CEO Peter Zaffino explained today. Speaking during the AIG earni...
Posted: May 05, 2023
Super-regional property & casualty insurance holding company, Heritage Insurance Holdings, Inc., has reported net income of $14.0 million in the first-quarter of 2023, up from a net loss of $30.8 million in the prior year quarter primarily due...
Posted: May 05, 2023
According to a new report from AM Best, concerns over the actual and prospective solvency levels at what was recently Indonesia’s largest domestic reinsurer has limited its ability to write new business, and prompted cedants to place coverage else...
Posted: May 05, 2023
Sutherland, a leading digital transformation technology and services firm, has entered into a partnership with Bold Penguin to drive digital transformation in customer acquisition, new business, and underwriting for the commercial insurance indust...
Posted: May 05, 2023
China Reinsurance Group (China Re), the country’s largest reinsurer, has published its first quarter of 2023 results, reporting an increased net profit of RMB 1,235 million and a combined ratio – at its own level – of 103.35%. In the s...
Posted: May 05, 2023
Lockton has announced the acquisition of THB Brazil from Amwins as the insurance broker continues to expand its footprint across Latin America; terms of the transaction were not disclosed. Upon completion of the deal, Eduardo Lucena, chief executi...
Posted: May 05, 2023
Ryan Specialty Holdings has disclosed that its total revenue grew 18.3% to $457.6 million in Q1 of 2023. According to the firm, this increase was primarily due to organic revenue growth of 12.9%, which was driven by new client wins and expanded ex...
Posted: May 05, 2023
Howden Tiger Fac, a broking division of Howden Tiger, has appointed Sandy Warne as the head of its Terrorism & Political Violence division. With more than 20 years of experience in the industry, Warne has previously held various roles speciali...
Posted: May 05, 2023
AIG has released strong Q1 financial results for 2023, with its General Insurance segment posting a combined ratio of 91.9%, improving by 1.0 points from the prior year quarter. The accident year combined ratio, ex-CAT, was 88.7%, so a 100-basis p...
Posted: May 05, 2023
AIG has released strong Q1 financial results for 2023, with its General Insurance segment posting a combined ratio of 91.9%, improving by 1.0 points from the prior year quarter. The accident year combined ratio, ex-CAT, was 88.7%, so a 100-basis p...
Posted: May 05, 2023
Catastrophe loss data aggregator PERILS AG has raised its estimate for insurance industry losses from February’s Kahramanmaras Earthquake Sequence in Turkey to TRY 86.4 billion (USD 4.4 billion). The updated figure represents a significant increas...
Posted: May 05, 2023
Global life and health reinsurer Reinsurance Group of America (RGA) has reported Q1 net income available to RGA shareholders of $252 million, compared with $197 million in the prior-year quarter. RGA’s adjusted operating income for Q1 2023 t...
Posted: May 05, 2023
Tokio Marine HCC International (TMHCCI) has announced its London Market Marine, Energy and Renewables businesses will be brought under one operating structure which will be headed up by the recently appointed Ben Kinder. According to TMHCCI, this...
Posted: May 05, 2023
Global professional services firm Aon has announced the launch of a dedicated unit to drive climate analytics and advisory into multiple sectors. As climate change drives new extreme weather records, Aon’s Climate Risk Advisory team – lead b...
Posted: May 05, 2023
Swiss Re has announced the appointment of Deanna Ong as Chairperson of the Board of Directors for its Asian business, Swiss Re Asia Pte. Ltd. (SRAL). Ong, who serves as a Director of both SRAL and Swiss Re, will succeed outgoing Chair Lim Siong Gu...
Posted: May 05, 2023
Analysts at Fitch Ratings have warned that mass lapse risk remains a threat to European life insurers, although they argue that liquidity profiles are still sufficiently strong to withstand a moderate to significant rise in lapses even in the two...
Posted: May 05, 2023
West P&I Club, an insurance provider to the global maritime and offshore industries, has appointed Tony Paulson as Head of Asia, where he will relocate to Singapore in mid-summer 2023. In his new role, Paulson will provide strategic support to...
Posted: May 05, 2023
Burns & Wilcox, an independent insurance wholesale broker and managing underwriter, has announced its further expansion in the UK with the addition of two new hires, Jeffrey Hobson and Martino D’Aliesio. Based in Manchester, Hobson joins as No...
Posted: May 05, 2023
Kuwait Reinsurance Company K.S.C.P., a global provider of reinsurance services, has announced the appointment of Afdzal Rasdi as Senior Underwriter, Treaty. Rasdi has over ten years of experience in the re/insurance industry, and joins the company...
Posted: May 05, 2023
International insurance broker, Howden has announced the appointment of Morwenna Howell as Managing Director and Global Practice Leader, Howden Multinational Client Practice. Howell will be joining Howden from Marsh, where she has worked for the p...
Posted: May 05, 2023
Gen Re Singapore has hired Cindy Sng as its new Chief Executive Officer. She has spent over nine years at the company. In her new position, she will be responsible for serving as the Principal Officer of the Gen Re Singapore Branch. Prior to this,...
Posted: May 04, 2023
In the past few years, governments, and businesses all over the world have been preoccupied with the Covid-19 pandemic and its aftermath, which likely put a number of regulatory/legal changes on hold. As these new regulations now start to come int...
Posted: May 04, 2023
BMS Re, the reinsurance arm of global broking group BMS, has promoted Andrew Wheeler to President, effective immediately, where he will report to Pete Chandler, CEO of BMS Re. A well known veteran within BMS, Wheeler assumes the role with more tha...
Posted: May 04, 2023
Holding company Tiptree has reported a substantial increase in revenues for Q1 2023, with growth driven to a large degree by the company’s global specialty insurance subsidiary, Fortegra. Revenues increased by 17.5% to $381.6 million thanks to gro...
Posted: May 04, 2023
By the end of March 2023, National Flood Insurance Program (NFIP) claims paid after Hurricane Ian had surpassed $3.4 billion, with more than 46,000 NFIP flood insurance claims received. As we wrote previously, by mid-January 2023, the NFIP had pai...
Posted: May 04, 2023