Reinsurance News
Arch Insurance International, part of Arch Capital Group, has announced the promotion of Jason Page to the position of Head of Marine Hull & War. He is taking over the position from Mark Watters who has retired. Page will be based in London an...
Posted: Apr 03, 2023
PPL Next Gen, the new version of the London insurance market’s electronic trading platform, has been opened to placements for the entire market following four weeks of limited access while market firms completed training and preparation activities...
Posted: Apr 03, 2023
AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a+” (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of global reinsurer MS Amlin AG (MS Reinsurance). The outlook of t...
Posted: Apr 03, 2023
Analysts at Jefferies have reported that UK motor insurance pricing continues to harden, with a 35% increase year-over-year in February. The analysts write, “Our UK motor insurance tracker shows that premiums are +35% higher YoY in February...
Posted: Apr 03, 2023
Emma Loynes has been named as the new Country Manager for Lloyd’s in Singapore and will also become Chief Executive Officer (CEO) of Lloyd’s Asia, effective May 1st, subject to regulatory approval. Loynes takes over as CEO of LloydR...
Posted: Apr 03, 2023
The April 1 reinsurance renewals saw a continuation of trends from the earlier January period this year, with reinsurers broadly maintaining discipline and driving up rates across all geographies, Gallagher Re reports. The broker’s 1st View report...
Posted: Apr 03, 2023
Corvus Insurance, an AI-powered cyber specialty insurer, has announced the appointment of Prashanth Gangu as President of the company. Gangu is a veteran of the insurance industry with more than two decades of industry experience across strategy,...
Posted: Apr 03, 2023
Parsyl, a data-powered risk management and insurance solution, has announced the appointment of Indira Riguero as Head of Claims. Riguero began her career within the logistic industry twelve years ago as a Safety and Compliance manager for a truck...
Posted: Apr 03, 2023
Gallagher will launch its first direct presence in Sweden on the 3rd of April 2023, following the integration and rebranding of its three individual Swedish businesses Brim, Nordic and Proinova. Insurance and reinsurance broker Gallagher acquired...
Posted: Apr 03, 2023
MNRB Holdings Bhd (MNRB) has promoted Ahmad Noor Azhari Abdul Manaf to the roles of President and Chief Executive Officer (CEO) of Malaysian Reinsurance Bhd (Malaysian Re) effective April 1, 2023. MNRB is the holding company of Malaysian Re. The c...
Posted: Apr 03, 2023
Chedid Re Europe, a member of Chedid Capital Holding, has announced it has chosen the Kingdom of Saudi Arabia as headquarters for its regional operations in the Middle Eastern reinsurance market. Elie Abi Rached, Chief Executive Officer of Chedid...
Posted: Apr 03, 2023
The series of severe convective storms that broke out in the U.S. over the last week are estimated to cause total economic and insured losses in the hundreds of millions of dollars, suggests Aon. The devastating weather affected multiple states in...
Posted: Mar 31, 2023
Insurance Commissioner Ricardo Lara and the California FAIR Plan Association have agreed to increase commercial coverage limits to $20 million for businesses unable to find coverage in the normal insurance marketplace. This adjustment more than do...
Posted: Mar 31, 2023
ISS ESG, the sustainable investment arm of Institutional Shareholder Services Inc. (ISS), has announced the launch of its US Cyber Risk Index, which supports investors by seeking to identify and track companies with low or negligible expected rela...
Posted: Mar 31, 2023
Global reinsurer Munich Re has announced the discontinuation of its membership in the Net-Zero Insurance Alliance (NZIA), citing antitrust risks as limiting the scope of its decarbonisation goals. The UN-convened NZIA is a group of 30 insurers and...
Posted: Mar 31, 2023
Trisura Group Ltd. has announced the appointment of Tom Ciano as Chief Underwriting Officer (CUO) for its US Corporate Insurance. Ciano will lead the entry into the US Corporate Insurance market and head the operations with an underwriting launch...
Posted: Mar 31, 2023
Global growth opportunities outweigh the current elevated geopolitical and economic risk landscape, according to a recent report published by insurance broker and risk advisor, Marsh. The 2023 Political Risk Report, published by Marsh Specialty, o...
Posted: Mar 31, 2023
Global P&C insurer Chubb has appointed Benoit Chasseguet as Country President for France. Subject to regulatory approval, the appointment is effective immediately. Chasseguet, who currently serves as Regional Marine Manager for Continental Eur...
Posted: Mar 31, 2023
Athora Holding Ltd., a European savings and retirement services group, has reported its full-year results, announcing a €488 million IFRS profit before tax, which represents a 14% increase compared to 2021. At the same time, the firm also reported...
Posted: Mar 31, 2023
Greenlight Re Innovations, a unit of re/insurer and strategic investor Greenlight Re, has entered into a partnership with Aanika Biosciences Inc., a Brooklyn-based biotechnology company. Through the partnership, Aanika will be able to expand and g...
Posted: Mar 31, 2023
Oxbridge Re Holdings, a provider of reinsurance solutions primarily to property & casualty insurers, has reported a $1.8 million net loss for the full-year, compared to a $8.6 million net income from 2021. The company stated that the decline w...
Posted: Mar 31, 2023
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of recently established Bermuda-based reinsurer Talcott Life Re. AM Best states that the ratings reflect th...
Posted: Mar 31, 2023
Allianz Re, the reinsurance arm of global insurer Allianz, has announced that Sang Hun Park is set to return to the firm as its Global Head of Retrocession, effective May 1st, 2023. Park already has in-depth experience at Allianz Re having spent a...
Posted: Mar 31, 2023
P&C insurer Chubb has promoted Frances O’Brien to Executive Vice President and Chief Risk Officer (CRO) as Sean Ringstead moves on to new role as Chief Digital Business Officer. O’Brien currently serves as Senior Vice President and...
Posted: Mar 31, 2023
Global non-life specialty insurer with a focus on program management and legacy business, R&Q Insurance Holdings Ltd, has added Jeffrey Hayman as its new Non-Executive Chairman, with William Spiegel assuming the role of Group Chief Executive O...
Posted: Mar 31, 2023