Reinsurance News
CLARA Analytics, a provider for artificial intelligence (AI) technology for casualty insurance claims optimization, has launched its AI platform for general liability claims. The firm’s casualty lines AI platform ingests both structured and unstru...
Posted: May 04, 2023
Berkshire Hathaway Specialty Insurance (BHSI) has announced that it has appointed two leaders to regional leadership positions. Alessandro Cerase has been named President & Head of Europe Region, and Neeraj Yadvendu is now Head of Middle East...
Posted: May 04, 2023
Insurtech Vertafore has announced the appointment of insurance veteran Teresa Chia to the role of Chief Financial Officer (CFO). Chia will play an important role in supporting Vertafore’s strategy and continued development of market-leading...
Posted: May 04, 2023
DWF, a global provider of integrated legal and business services, has appointed insurance disputes and coverage experts, Victoria Clucas and Bill Evans, as insurance partners in the company’s Dubai office. They both join the firm with a combined 3...
Posted: May 03, 2023
The President and Chief Executive Officer (CEO) of Bermuda-based reinsurer RenaissanceRe (RenRe), Kevin O’Donnell, expects the supply demand imbalance in property reinsurance to continue as concerns around climate change and elevated losses...
Posted: May 03, 2023
The recent renewals in the Accident, Health, and Life (A&H) reinsurance market have been marked by turbulence due to limited retro capacity in some lines of business, according to Aon’s Accident (Re)Insurance April 2023 report. The repor...
Posted: May 03, 2023
Bank of America (BofA) estimates that European reinsurance results will fail to hugely impress against already-high expectations for the sub-sector, while analysts expect that all four major European reinsurance companies will have exceeded their...
Posted: May 03, 2023
Global insurance brokerage Hub International Limited (HUB), has entered into an agreement with Los Angeles-based private equity firm, Leonard Green & Partners, L.P. (LGP) for an expected “substantial” minority investment with HUB’s enterprise...
Posted: May 03, 2023
Insurance and analytics provider Verisk has reported marginally higher revenues of $651.6 million for the first quarter of 2023, aided by revenue growth of 11.1% within its insurance segment, including growth of 9.8% on an organic constant currenc...
Posted: May 03, 2023
New data from independent investment manager Twelve Capital shows that reinsurers are leading the way in terms of some net zero targets within the wider financial industry, with 50% having adopted operational 2030 targets, compared with just 18% i...
Posted: May 03, 2023
Marsh McLennan Qatar, the regional operation of the global insurance and reinsurance broking powerhouse, has appointed Asaad Qassas as its CEO. Qassas has been working with Marsh for over 13.5 years in various roles, the most recent one was Senior...
Posted: May 03, 2023
Bermuda domiciled insurance holding company, James River Group Holdings Ltd., has reported a total net income of $7.0 million for the first quarter of 2023, and a combined ratio of 94.9% This year’s Q1 net income was a lower figure compared to the...
Posted: May 03, 2023
According to a new report from rating agency AM Best, a vast majority of insurers understand the importance of enterprise risk management (ERM), with more than 90% of rated insurers possessing frameworks assessed at appropriate or better. But, the...
Posted: May 03, 2023
American Financial Group (AFG) has entered into an agreement to purchase primary crop insurance general agent Crop Risk Services (CRS) from AIG. CRS is based in Decatur, Illinois, and is the seventh largest provider of multi-peril crop insurance i...
Posted: May 03, 2023
DUAL North America has announced three key leadership hires. The firm has promoted Jim Jinhong to head of Capacity and Product Development, D.J. Postles joined as Executive Vice President of Underwriting for NBIS, and John Kopach joined as Executi...
Posted: May 03, 2023
Global insurance broker Lockton has announced the promotion of five key leaders into global roles. These leaders will be working closely with the retail leadership team to build innovative enterprise-wide solutions. Lockton recently surpassed $3 b...
Posted: May 03, 2023
US specialty insurance group Assurant has reported a GAAP net income of $113.6 million for the first quarter of 2023, representing a 24% decrease compared to $149 million from the same period last year. The company noted that the decrease was prim...
Posted: May 03, 2023
Swiss-based reinsurer Echo Re has reported a substantial increase in gross written premium in its 2022 full year results, up to CHF 283.6 million. Total technical income for 2022 was CHF 222.1 million, an increase from CHF 188.9 million in 2021. T...
Posted: May 03, 2023
A new report from specialty reinsurance broker BMS Re highlights the continued influx of capital to the MGA program sector of the insurance industry, which it says has experienced exponential top line growth in recent years. 2021 proved to be a ke...
Posted: May 03, 2023
Catastrophe loss data aggregator PERILS AG has provided a second estimate of the insurance and reinsurance market loss from the severe flooding that impacted the North Island of New Zealand from January 27th to February 2nd, pegging the total at N...
Posted: May 03, 2023
Munich Re Specialty Group, a division of reinsurance giant Munich Re, has launched Green Solutions, a range of insurance products and services designed to support the net-zero ambitions of its customers. The portfolio has been created to establish...
Posted: May 03, 2023
American Financial Group, Inc. (AFG) has reported a net income of $212 million for the first-quarter of 2023, compared to $290 million in Q1 2022, driven by after-tax non-core net realized losses on securities of $37 million. In Q1, AFG’s net earn...
Posted: May 03, 2023
As the cyber insurance and reinsurance market continues to develop and expand, with the risk also growing in popularity within the insurance-linked securities (ILS) space, Matt Harrison, Director of Product Management for Cyber at Moody’s RMS, hig...
Posted: May 03, 2023
Hong Kong-based global reinsurer Peak Re has recorded a net loss of US $81 million in its full-year results for 2022, compared to the prior year’s net profit of $73.2 million. At the same time, the company reported a 7% rise in gross written premi...
Posted: May 03, 2023
The Hanover Insurance Group, Inc. reported a net loss of $12.0 million in the first quarter of 2023, compared to net income of $104.9 million, as its pre-announced $175.0 million in catastrophe losses resulted in a combined ratio of 104.4 percent....
Posted: May 03, 2023