Reinsurance News
In a letter to shareholders, SiriusPoint Chief Executive Officer (CEO) Scott Egan has asserted that the specialty re/insurer has “been working at pace and already taken significant action to establish a firm foundation for future success.” His com...
Posted: Apr 24, 2023
Howden Group Holdings has raised over £875 million through debt and equity, with more than £1 billion available for investment in new initiatives, M&A, and talent. On March 24, Howden obtained a $500 million seven-year term loan from over 60 l...
Posted: Apr 24, 2023
WTW a global advisory, broking and solutions company, has announced that the WTW broking platform is now enabling digital trading with Zurich as part of its ongoing evolution. The aim of WTW’s integration with Zurich Commercial UK is to further st...
Posted: Apr 24, 2023
Bitsight, a cybersecurity ratings company has announced its expansion into a broader category of integrated cyber risk management bolstered by an expanded partnership with Moody’s Corporation and improvement to proprietary ratings algorithm....
Posted: Apr 24, 2023
Due to uncertain economic conditions, life and non-life insurance companies in the UK need to reconsider their capital allocation, product strategies, and business models, according to S&P Global Ratings. The U.K. insurance industry is set for...
Posted: Apr 24, 2023
Total pension scheme buy-in and buy-out volumes reached £15.8bn in the second half of 2022, according to a recent report by Hymans Robertson, a pensions and financial services consultancy. It was around £27.7bn for the year to 31 December 2022 – s...
Posted: Apr 24, 2023
Ryan Specialty Holdings has appointed Sara Kendall as its Deputy Chief Compliance Officer. Kendall’s main responsibility is to oversee and aid in the management of the company’s worldwide strategic plans related to ethics, compliance,...
Posted: Apr 24, 2023
Analysts at JMP Securities report that property-exposed primary insurance lines are likely to see rates re-accelerate over the coming months as the impact of higher reinsurance pricing trickles down. Reflecting on the first quarter of 2023, JMP no...
Posted: Apr 24, 2023
Premium growth for publicly traded U.S. life/annuity (L/A) insurance companies continued to recover in 2022, but was cuffed by declines in investment and fee income that drove total GAAP revenue down by 12% to $291.5 billion, suggests a new report...
Posted: Apr 21, 2023
Canadian broker Westland Insurance Group has partnered with Ontario Teachers’ Pension Plan through BroadStreet Partners, Ontario Teachers’ financial platform for investing in insurance distribution. Westland suggests that the partnership reinforce...
Posted: Apr 21, 2023
Cyber risk modeller DeNexus’ CEO José Seara said Lloyd’s of London must balance protecting its business while recognising the importance of second-generation cyber modelling in providing necessary risk visibility for effective risk tra...
Posted: Apr 21, 2023
Horace Mann Educators Corporation has announced that it expects first-quarter 2023 core EPS in the range of $0.21 to $0.23, despite an unusually high number of weather events throughout the quarter, including two severe storms in the Midwest in la...
Posted: Apr 21, 2023
IVANS, a division of Applied Systems, has reported an increase in the average premium renewal rate change across all major commercial lines of business year over year, in the first quarter of 2023. All lines experienced an increase except for Gene...
Posted: Apr 21, 2023
Aon Reinsurance Solutions’ Global Head of Analytics, Paul Shedden, stated that insurers are faced with the primary challenge of defining their own view on natural catastrophe risks amidst the escalating volatility of such events. “2022...
Posted: Apr 21, 2023
Global specialty insurer Ryan Specialty Holdings has promoted Brenda Austenfeld and Chris Houska to CEO and President of RT Specialty’s Property Practice and Casualty Practice, effective immediately. Austenfeld has been with RT Specialty, th...
Posted: Apr 21, 2023
Ageas announced that it has signed the sale agreement for its French Life Insurance activities. After consultation with the employee representatives, the company has signed an agreement regarding the sale of its French life insurance, savings and...
Posted: Apr 21, 2023
In its Q1 2023 results, re/insurance holding company W.R. Berkley Corporation reported that net investment income grew almost 29% as an increasingly greater portion of its fixed-maturity portfolio was (re)invested at higher interest rates. “...
Posted: Apr 21, 2023
Insurance broker and risk advisor Marsh has launched Fast Track, a new insurance facility led by QBE that is set to provide a “substantial amount” of additional “follow form” capacity to its clients globally across major lines of business. The bro...
Posted: Apr 21, 2023
ICW Group Insurance Companies, a leading group of property and casualty carriers, has promoted Mirek Wieczorek to Senior Vice President, Head of Reinsurance, charged with leading the growth strategy for ICW Re. Wieczorek has more than three decade...
Posted: Apr 21, 2023
A new report by Moody’s highlights that European life insurers are at risk of significant unrealised losses on their bond portfolios due to higher interest rates. The risk of mass savings policy lapses, if customers switch to higher-yielding...
Posted: Apr 21, 2023
NAES Corporation, a provider of operations, maintenance for power generation services companies, has partnered with cyber risk modeller DeNexus, to understand, quantify, plan and mitigate risk of cyber events to critical infrastructure. Through th...
Posted: Apr 21, 2023
Jefferies’ data from its report on the UK motor insurance market shows that its pricing data predicated only showed inflation for new business quotations. It did not include the impact of renewals, which was estimated to broadly make up 60% of tot...
Posted: Apr 21, 2023
Deutsche Rück has announced the expansion of its board of directors with the addition of Caren Büning, who will join the German reinsurer’s management body in January 2024. According to the announcement, Büning will head up the newly formed divisi...
Posted: Apr 21, 2023
Italian retail insurance broker Double S Insurance Broker S.p.a. (Double S) rebranded to Acrisure, effective immediately. Acrisure, global insurance broker and fintech leader, entered the Italian market in 2021 through a partnership with Double S....
Posted: Apr 21, 2023
The African Risk Capacity (ARC) Group has announced a $188,000 insurance payout to the Government of the Republic of The Gambia to assist with recovery from drought. ARC explains that as drought conditions spread across West Africa’s Sahel region...
Posted: Apr 21, 2023