Reinsurance News
Kin Insurance, a direct-to-consumer home insurance company, closed a $100 million private placement catastrophe bond transaction, bringing Hestia Re Ltd.’s total outstanding limit to $275 million. Kin Interinsurance Network has secured a new reins...
Posted: Apr 06, 2023
AXA XL has announced that it has appointed Adam Lait as Senior Underwriter, Marine Liability & Ports, UK & Lloyd’s. Lait’s appointment is effective immediately. In the role he will hold responsibility for developing and managing underwriti...
Posted: Apr 06, 2023
Parsyl has announced the launch of its new Essential Consortium at Lloyd’s of London, in a multi-year arrangement that will initially bring $20m in new capacity to the perishable cargo market. The arrangement will leverage Parsyl’s data-driven ins...
Posted: Apr 06, 2023
A sub-100% combined ratio was reported by 80% of reinsurers tracked by Gallagher Re in 2022, with most firms improving versus the prior year due to lower nat cat losses and expense ratios, suggests the reinsurance broker’s latest market repo...
Posted: Apr 05, 2023
Global specialty reinsurer Canopius has partnered with MGA Falvey Insurance Group (FIG) to offer inland marine coverage in the U.S. Canopius states that this marks the first time that it and FIG will be writing inland marine coverage in the region...
Posted: Apr 05, 2023
Global reinsurance broker, Gallagher Re has announced the appointment of Bart Zanelli as Executive Vice President within its North American team. In his new role, Zanelli will focus on a range of capital market activities within Gallagher Securiti...
Posted: Apr 05, 2023
Sound Point Capital Management, LP, a credit-oriented investment manager, has entered into an agreement to acquire Assured Investment Management LLC and certain of its related asset management entities (Assured-IM), which conducts the institutiona...
Posted: Apr 05, 2023
New Reinsurance Company (NewRe), a Swiss reinsurer and Munich Re subsidiary, has appointed Leonid Rousniak to the role of Senior Structurer, a Zurich based role. Rousniak joins NewRe from SCOR, where he served for almost seven years. He held a num...
Posted: Apr 05, 2023
Zurich, a global multi-line insurance company, has confirmed its withdrawal from the Net-Zero Insurance Alliance (NZIA), citing a desire to focus its resources to support its customers with their transition. The NZIA is a group of 30 insurers and...
Posted: Apr 05, 2023
International insurance broker Howden has received a regulatory license from the Central Bank of Bahrain to establish operations in the Kingdom. The firm states that the establishment of Howden Bahrain adds another key territory to its footprint i...
Posted: Apr 05, 2023
Global insurance broker and Fintech leader, Acrisure, has announced its acquisition of Unilink Group, the largest insurance distribution platform in the Central and Eastern European (CEE) region. By completing this acquisition, Acrisure will obtai...
Posted: Apr 05, 2023
As the underlying return on equity (ROE) surpasses the reinsurance industry’s cost of capital for the first time in a decade, it gives a sense of direction of the way forward and the level of profitability the sector has now reached, according to...
Posted: Apr 05, 2023
Cowbell, a provider of cyber insurance for small and medium-sized enterprises, has launched its UK operations. This announcement comes with the appointment of a cyber insurance expert, Simon Hughes, as General Manager of Cowbell UK. Hughes has exp...
Posted: Apr 05, 2023
Amwins Access, a binding and brokerage platform for the P&C industry, has launched the Excess Wildfire Product that has been designed to complement a self-insured retention plan or the California FAIR (or a similar) plan. Amwins has partnered...
Posted: Apr 05, 2023
DeNexus announces the launch of Version 5.3 of its DeRISK Platform to help improve cyber risk modelling capabilities for reinsurers and the insurance-linked securities (ILS) sectors. DeRISK 5.3 is described as an evidence-based, data-driven cyber...
Posted: Apr 05, 2023
The catastrophe bond market has reassumed its growth trajectory during the first-quarter of 2023, with a “markedly” increase in transaction sizes in the second half of 2022, Aon explained in its April Reinsurance Market Dynamics report...
Posted: Apr 05, 2023
Ocean International Reinsurance Company Ltd. (Ocean Re) has appointed Canopius Group’s Jamie Wakeling as Chief Underwriting Officer (CUO). A highly experienced veteran across the industry, Wakeling joins Ocean Re after spending just under 20 years...
Posted: Apr 05, 2023
The life reinsurance business units of the four major European reinsurers have presented a strong return to profitability in 2022 as pandemic-related claims declined and the overall claims experience was positive, according to Fitch Ratings. Even...
Posted: Apr 05, 2023
Aviva has completed a £400 million bulk purchase annuity buy-in transaction with the trustees of the DB (UK) Pension Scheme. Aviva will insure the defined benefit pension liabilities for nearly 1,300 members, removing the investment and longevity...
Posted: Apr 05, 2023
California-headquartered specialty insurer Palomar Holdings has announced the successful placement of certain excess of loss (XOL) reinsurance treaties that support and provide incremental limit for its earthquake line of business. In total, Palom...
Posted: Apr 05, 2023
New analysis from Gallagher Re, the global reinsurance broker, shows that total, dedicated reinsurance capital fell by 12% from the end of 2021 to $638 billion as at the end of December 2022, driven by a decline in the value of investments. The br...
Posted: Apr 05, 2023
Life insurer and asset manager Aegon has announced today the sale of its UK individual protection book to Royal London. The transaction will support Aegon’s ongoing strategy to focus on the core Retail and Workplace platform activities in the UK,...
Posted: Apr 05, 2023
Spinnaker Insurance Company, a wholly owned subsidiary of Hippo Holdings Inc,, has appointed Charles Valinotti as its Chief Program and Underwriting Officer. Within the role, he will lead the firm’s team of program underwriters, who are responsibl...
Posted: Apr 05, 2023
Aon, a leading broker, consulting and service provider, has announced the appointment of Manuel Pachlatko as Head of Cyber for Switzerland, to further strengthen the company’s cyber solutions in the country. In his new role, he will focus on the d...
Posted: Apr 05, 2023
Independent specialist re/insurance broker BMS has entered into an agreement to acquire a majority share in Berns Brett Masaood (BBM), a leading United Arab Emirates (UAE) insurance broker. Headquartered in Abu Dhabi and Dubai and established in 2...
Posted: Apr 05, 2023