Reinsurance News
Global alternative asset manager, Apollo Global Management, Inc., has closed an agreement for its affiliated companies, third-party insurance managed accounts, and other institutional clients to invest $500 million into surplus notes issued by Rei...
Posted: Mar 31, 2023
According to a report published by Swiss Re, there has been an upward trend in natural catastrophe-insured losses over the past six years. The data shows a rise of about 5‒7% in average annual losses established over the last 30 years with the pos...
Posted: Mar 31, 2023
HDI Global has announced that Konstantinos Semertzoglou will take over the executive management of its Greece branch office following the retirement of Notis Vagiakakos, who led the branch successfully for nearly two decades. Semertzoglou is set t...
Posted: Mar 31, 2023
MSCI’s Vice President of research Arne Philipp Klug has published a report on the importance of making biodiversity crisis a part of the underwriting process. Klug along with Cody Dong, Senior Associate at MSCI Research, has established a li...
Posted: Mar 31, 2023
Despite substantial premium growth for North American P&C insurers overall in 2022, the struggle continued for personal auto business and Florida homeowners insurers, suggest analysts at Fitch Ratings. According to the rating agency’s re...
Posted: Mar 30, 2023
Berenberg analysts in their recent “2023: the dawn of a new reinsurance cycle” report have predicted that rates for European reinsurance will be higher during the upcoming renewal seasons. Climate change dilutes geographical diversific...
Posted: Mar 30, 2023
Bertrand Labilloy, Chairman & CEO of CCR Re, has suggested the firm is well placed to benefit from the new market environment in 2023 as it managed to “deliver a clean sheet in a turmoiled market” in 2022. The French state-owned re...
Posted: Mar 30, 2023
AXIS Capital Holdings Limited, a global specialty underwriter and provider of re/insurance solutions, has announced the appointment of Megan Watt as Chief Claims Officer. Based in New York, Watt will start her new role on April 17, 2023, and will...
Posted: Mar 30, 2023
A recent survey conducted by international insurance broker Howden, shows that 80% of insurers are planning to achieve significant growth within sustainable energy throughout 2023, with an average planned GWP growth of 13% across respondents. The...
Posted: Mar 30, 2023
There has been a significant increase in reinsurers’ appetite wanting to specialise in reinsuring insurer’s delegated authority portfolios. With both parties aligning their interests they have now effectively become one risk capital partner,...
Posted: Mar 30, 2023
Tyler Bolander has been appointed by insurance brokerage Lockton Companies as their new Senior Vice President of Regional Operations. Bolander is a market veteran with over 15 years of experience and will be based in Lockton’s Dallas, Texas office...
Posted: Mar 30, 2023
APAC (Asia-Pacific) renewals are proceeding in an orderly fashion as the reinsurance market finds itself on a more sustainable footing following a turbulent 1/1, suggests Aon Reinsurance Solutions APAC CEO, George Attard. Attard states that April...
Posted: Mar 30, 2023
New data from Verisk and the American Property Casualty Insurance Association (APCIA) shows that key financial results for the US property and casualty (P&C) market significantly worsened in 2022, as its overall underwriting loss reached $26.9...
Posted: Mar 30, 2023
Canopius Group, a global specialty re/insurer, has announced its 2022 financial results reporting that gross written premiums (GWP) increased to $2,338 million, up from $2,220 million in 2021, with growth seen in all geographies. Additionally, the...
Posted: Mar 30, 2023
Zurich-based catastrophe insurance data provider PERILS AG has released its initial insured market loss estimate for Cyclone Gabrielle which struck New Zealand in the middle of February, pegging the total at NZ $1.543 billion. The industry loss es...
Posted: Mar 30, 2023
Tremor Technologies, the reinsurance pricing and placing platform, has announced the launch of Tremor Issuer, an online catastrophe bond issuance platform powered by the firm’s Panorama marketplace tech. The new platform can be accessed onli...
Posted: Mar 30, 2023
Newfront, the tech-driven insurance brokerage firm, has announced the appointment of Jennifer Wilson as the new Head of Cyber. In her new Boston-based role, Wilson will lead cyber coverage negotiation and claims advocacy at Newfront. She will repo...
Posted: Mar 30, 2023
The UN-backed Net-Zero Asset Owner Alliance – a member-led initiative with over $11trn in assets under management – is calling for members, which include many of the world’s largest insurers, reinsurers and brokers, to set exclus...
Posted: Mar 30, 2023
Pen Underwriting has appointed Erik Alsegard to the newly created role of Head of Intellectual Property (IP) as it continues to invest in diversifying its product offering. Pen states that extending its suite of risk solutions into IP insurance wi...
Posted: Mar 30, 2023
Global insurance company MAPFRE’s assistance division, MAWDY, has partnered with Italian insurer VITTORIA ASSICURAZIONI to provide assistance services to the Italian market. Under the agreement, both companies will hold 50% of the shares in a newl...
Posted: Mar 30, 2023
DUAL North America, Inc., a specialty program administrator offering property, casualty, and financial lines products, has announced the promotion of Michelle Roccoforte to Chief of Staff from her current role of Chief Financial Officer. In her ne...
Posted: Mar 30, 2023
W. R. Berkley Corporation has appointed Shadi Albert as president of Berkley Luxury Group, a premier insurer for luxury condos, co-ops, rentals, and upscale restaurants. Berkley describes Albert as an experienced P&C insurance executive who ho...
Posted: Mar 30, 2023
Hong Kong-based global reinsurer Peak Re has recorded a net loss of US $79.8 million for 2022, while also growing its gross written premiums from $2.14 billion to $2.29 billion. The results were disclosed as part of the annual report of Peak Re’s...
Posted: Mar 29, 2023
The Board of Directors of Marsh McLennan, a leading professional services firm, has appointed both Judith Hartmann and Ray G. Young as directors, effective immediately. Following these appointments, the company’s Board now consists of 15 directors...
Posted: Mar 29, 2023
CCR Re, the French state-owned reinsurer, has reported a total premium income of €987m in 2022, up 17% compared with 2021. The firm states that it continued to pursue the profitable growth trajectory defined by the board of directors, in a market...
Posted: Mar 29, 2023