Reinsurance News
BrokerTech Ventures (BTV) has partnered with ManchesterStory Group to launch the BrokerTech Fund, LP, a venture capital fund focused on early-stage insurtech companies developing broker-centric technology solutions. ManchesterStory, the Fund’...
Posted: May 04, 2023
AXIS Capital, a global specialty underwriter and provider of re/insurance solutions, has announced a planned leadership transition, with Vincent C. Tizzio taking over as the company’s new President and CEO. The move, which was first announce...
Posted: May 04, 2023
Berkshire Hathaway Specialty Insurance (BHSI) has announced two key underwriting leadership promotions. The company has confirmed that Hilary Browne has been promoted to the role of Deputy Global Chief Underwriting Officer, and Cameron Holmes has...
Posted: May 04, 2023
Despite noting that current US financial market pricing does not signal expectations of recession, Patrick Saner, Head Macro Strategy within Group Economic Research and Strategy at Swiss Re, still anticipates a US recession later this year. Saner...
Posted: May 04, 2023
AXA XL, the property & casualty and specialty risk division of AXA, has announced the appointment of three new members to its Energy team, further bolstering its offering in the UK & Lloyd’s Business Unit. Josephine Stroud has been hired t...
Posted: May 04, 2023
Enstar Group reported a net earnings of $424 million in the first-quarter of 2023, compared to net loss of $267 million in Q1 2022. Return on equity (ROE) was 9.5% in Q1 of 2023, compared with (4.6)% the previous year, while adjusted ROE was 6.8%...
Posted: May 04, 2023
WTW has announced the launch of a new Data Science Consultancy unit to “help insurers unlock huge untapped value from their data.” The new consultancy, which will exist within WTW’s Insurance Consulting and Technology (ICT) business, w...
Posted: May 04, 2023
Re/insurance broking firm Arthur J. Gallagher & Co has acquired Switzerland-based fine art insurance broker, accurART. Terms of the transaction were not disclosed. A market-leader in Switzerland, accurART specialises in insurance for private a...
Posted: May 04, 2023
Selective Insurance has reported income of $90.3 million for the first quarter of 2023, compared to $54.0 million in Q1’22, helped by strong growth in both net written premiums (NPW) and investment income. Selective Insurance Group reported...
Posted: May 04, 2023
Lemonade has released its Q1 2023 financial results. Despite persistent inflation and the heightened frequency of severe weather events, the company said it has moved in the right direction this year. The company’s In Force Premium (IFP) has toppe...
Posted: May 04, 2023
U.S. primary insurer Allstate has completed the placement of its 2023-2024 Nationwide Excess Catastrophe Reinsurance Program, revealing that the top of the tower has come down slightly from the Q4 2022 update, while the cost of the program has inc...
Posted: May 04, 2023
AM Best has upgraded the credit ratings of Austral Resseguradora S.A. (Austral Re) and Austral Seguradora S.A. Concurrently, and revised their outlooks to stable from positive. The credit rating agency has assigned the companies a Financial Streng...
Posted: May 04, 2023
Specialty insurer Palomar Holdings has published its first quarter 2023 results reporting a net income of $17.3 million, a 46.3% increase in gross written premiums (GWP) and a combined ratio of 77.9%. This first quarter the company’s net income wa...
Posted: May 04, 2023
Davies, a leading specialist professional services and technology business, has signed a deal to acquire the insurance management portfolio from Ortac Underwriting Agency. Following completion of the acquisition, the business will join Davies’ exi...
Posted: May 04, 2023
Alex Maloney, the Chief Executive Officer (CEO) of Lancashire Holdings Limited, expects the re/insurer’s aviation portfolio to grow by the year end. “We’re overall pretty confident that we’ll be able to grow our aviation portfoli...
Posted: May 04, 2023
Arch Insurance International, part of Arch Capital Group Ltd., has appointed new Heads of Onshore and Offshore Energy. Effective immediately, Hannah Hutton has been promoted to Head of Onshore Energy, and Michael Poulteney has been promoted to Hea...
Posted: May 04, 2023
Global specialty re/insurer SiriusPoint has reported net income of $139 million for the first quarter of 2023 on a core combined ratio of 80.5%, helped by a significant improvement in the performance of its reinsurance segment. The company’s Q1 in...
Posted: May 04, 2023
“If the re/insurance market prices flood risk rationally, it will increase pressure for wider rational behaviour, which in the long term will encourage decisions that properly account for the underlying risks,” suggests Dr Chris Sampson, co-founde...
Posted: May 04, 2023
U.S. primary insurer Allstate Corporation has reported a net loss of $346 million in Q1 of this year, compared to a net income of $634 million in the same quarter of 2022. Allstates Q1 2023 results were cuffed by overall catastrophe losses of $1.6...
Posted: May 04, 2023
Specialist insurer and reinsurer Hiscox has announced that net insurance contract written premiums (ICWP) increased by 7.4% to $1.42 billion in Q1 2023, as the carrier highlights an attractive rate environment across all business segments. In its...
Posted: May 04, 2023
SiriusPoint Ltd., a global specialty insurer and reinsurer, has announced the appointment of Bronek Masojada to the Company’s Board of Directors. His new role will be effective from May 2, 2023. Masojada is a market veteran with nearly 30 years of...
Posted: May 04, 2023
InsurTech funding has bounced back strongly in the first quarter of 2023, with global investments reaching $1.39 billion, according to the latest Global InsurTech Report from Gallagher Re. This marks a 37.6% increase from the previous quarter̵...
Posted: May 04, 2023
Global professional services firm Aon has announced the appointment of Andy Marcell to the expanded role of CEO of Risk Capital, covering Commercial Risk and Reinsurance, as part of a push for more integration under its Aon United strategy. The st...
Posted: May 04, 2023
Swiss Re, one of the world’s largest reinsurance companies, has today reported net income of $643 million for the first quarter of 2023 compared with a loss of $248 million a year earlier, as the firm’s property and casualty (P&C)...
Posted: May 04, 2023
Independent insurance broker Lockton has announced the appointment of Simon Jesson as Business Development Manager to its Commercial Wholesale team based in Manchester. Jesson is to start his new role with immediate effect. He will be responsible...
Posted: May 04, 2023