Reinsurance News
Kuwait Reinsurance Company K.S.C.P. (Kuwait Re) has announced the promotion of Abhijeet Kumar and Siddiqui Ahmad Faizan to the position of Senior Underwriters in the Energy department. Kuwait Re has praised Kumar’s and Faizan’s skills and experien...
Posted: Apr 28, 2023
AM Best has revised its outlook from stable to negative for Selecta Insurance and Reinsurance Company (Caribbean) Ltd., citing volatility in the company’s historical underwriting results and the ongoing impact of legacy business on performance. At...
Posted: Apr 28, 2023
InnSure, a nonprofit dedicated to harnessing the power of the insurance industry to combat climate change, is to competitively award insurance innovators for the research and development of new policies and products to help address climate risk. W...
Posted: Apr 28, 2023
Underwriting profitability is expected for North American P&C insurers this year according to S&P analysts, who have also forecasted rate increases for homeowner insurance, auto and property, among others. Additionally, according to their...
Posted: Apr 27, 2023
Global specialty insurer Ryan Specialty Holdings appointed Katie Davies as CEO and Jeff Smith as President and Chief Underwriting Officer (CUO) of Power Energy Risk’s (PERse) North American operations, effective immediately. Davies takes ove...
Posted: Apr 27, 2023
Greenlight Re, a provider of property and casualty re/insurance, has announced the appointment of David E. Sigmon as General Counsel, Corporate Secretary and Chief Compliance Officer. In his new role, subject to regulatory and immigration approval...
Posted: Apr 27, 2023
Berkshire Hathaway Specialty Insurance (BHSI) has promoted James Byrnes to Head of Construction Professional, North America. Previously, Byrnes held the role of Vice President, Construction, for BHSI’s US Eastern Region. Overall, Byrnes has nearly...
Posted: Apr 27, 2023
RSA Insurance has announced that Danielle Skipper will join its UK Speciality Lines business as Senior Specialist Underwriter – Accident & Health (A&H). The company states that in her new role, Skipper will be responsible for contrib...
Posted: Apr 27, 2023
Donegal Group has reported a net income of $5.2 million in its Q1 financial results, down from $13.1 million in the previous year. Donegal Group’s combined ratio for Q1 2023 stood at 101.2%, compared with 95.8% in 2022. Annualized return on...
Posted: Apr 27, 2023
WTW, a global advisory, broking and solutions company, has announced the appointment of Anthony Grosso as its new Deputy Client Experience Officer, Corporate Risk & Broking (CRB) for North America. Grosso will be reporting directly to Rick Haw...
Posted: Apr 27, 2023
Recently launched Caymans Islands-domiciled reinsurer Bay Harbor Re has appointed Chris O’Connor as Chief Operations Officer and Chief Financial Officer. O’Connor is a seasoned executive who holds over thirty years of industry experien...
Posted: Apr 27, 2023
Rowan Minhas, an Account Handler within Miller’s Onshore Energy team focusing on Parametric insurance solutions, said the market conditions for parametrics are similar to the last London market update, and insureds need to act fast to secure...
Posted: Apr 27, 2023
AXA XL Insurance has announced the appointment of Molly Hunter as Client Relationship Leader for the West Zone in the Americas. She is taking over the role from Steve Sanford, who is retiring. In her new role, Hunter will be a key contact and acce...
Posted: Apr 27, 2023
LexisNexis Risk Solutions, a data, advanced analytics and technology provider for insurance, has become an associate of the British Insurance Brokers’ Association (BIBA). BIBA is a UK general insurance intermediary organisation representing the in...
Posted: Apr 27, 2023
Re/insurance broker WTW has reported revenue of $2.24 billion for the first quarter of 2023, representing an increase of 4% compared with the $2.16 billion it reported for the same period in 2022. On an organic basis, revenue increased by 8%, and...
Posted: Apr 27, 2023
Goosehead Insurance, a personal lines insurance agency, has announced its 2023 first quarter results reporting a net loss of $0.2 million, an improved figure compared to the net loss of $5.4 million a year ago. According to the company, the improv...
Posted: Apr 27, 2023
Zurich-based catastrophe insurance data provider PERILS AG has disclosed its third industry loss estimate for the October 2022 Southeast Australia floods, noting the event cost the insurance industry a total of AUD 907 million. PERILS explains tha...
Posted: Apr 27, 2023
American International Group (AIG) has announced that it has finalized its agreement with funds managed by Stone Point Capital to form Private Client Select Insurance Services (PCS), an independent Managing General Agency (MGA) to serve High Net W...
Posted: Apr 27, 2023
Bermuda-based re/insurer Lancashire Holdings Limited has announced a 22.7% rise in gross premiums written (GPW) for the first quarter of 2023 to $586.2 million from $477.9 million, the highest the group has delivered in a first quarter. The GPW in...
Posted: Apr 27, 2023
Catalina Re, provider of capital management and risk transfer solutions to the global insurance industry, has appointed John Darin as Chief Executive Officer of its wholly owned Bermuda-domiciled reinsurance company, Catalina General. Darin brings...
Posted: Apr 27, 2023
Markel Corporation has reported that earned premiums grew 12% in Q1 of 2023, reflecting growth in gross premium volume across many of the firm’s product lines. The company’s net investment income increased 73% to $159,335 million in Q1...
Posted: Apr 27, 2023
Bermuda-based Arch Capital Group has reported significantly improved results for the first quarter of 2023, helped by its reinsurance segment, which saw underwriting income almost double as gross premiums written grew by 43.1%. Overall, Arch’s net...
Posted: Apr 27, 2023
New data from specialist re/insurer Beazley suggests that short-term concerns about the energy transition may be deflecting focus away from climate change as the environmental issue of most concern. However, Beazley’s survey of 2000 senior busines...
Posted: Apr 27, 2023
After completing the agreed handover period, Sergio Ermotti will step down as Chairman of reinsurance giant Swiss Re on April 30th, 2023, in order to fully focus on his role as CEO of UBS. In was revealed in late March that Ermotti had been named...
Posted: Apr 27, 2023
Swiss reinsurer and Munich Re subsidiary NewRe, has announced Paul Norton has been voted onto the company’s Board of Directors. Subject to FINMA approval, Norton is to replace René Schnieper, who has stepped down from the function after six years...
Posted: Apr 27, 2023