Reinsurance News
Analysts at Twelve Capital, an independent investment manager specialising in insurance investments, have commented on the potential fallout of the crisis currently affecting the banking sector, concluding that “liquidity risk is remote” for most...
Posted: Mar 24, 2023
Bermuda headquartered RenaissanceRe’s Board of Directors has nominated former Munich Re executive Torsten Jeworrek to stand for election as an Independent Director. If elected, he will be appointed to the Investment and Risk Management Committee,...
Posted: Mar 24, 2023
Cyclone Gabrielle, which impacted parts of New Zealand last month, has generated around 40,000 claims so far worth a collective $890 million, according to the Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ). Provisional general...
Posted: Mar 24, 2023
MetLife, Inc. has announced the appointment of Bryan Boudreau as Executive Vice President and Global Chief Actuary. Boudreau succeeds Andy Rallis, who will retire on the 10th of May 2023, after a 39-year career at MetLife where he was the Global C...
Posted: Mar 24, 2023
The hot cyber market is starting to cool due to a slower pace of rate increases and cutbacks in capacity. At the same time, as the market evolves, more solutions are needed to address the systemic risk it possesses, according to a recent report by...
Posted: Mar 24, 2023
Specialty insurer, Mosaic Insurance has added litigation liability coverage to its professional lines offering, appointing experienced litigation solicitor, Sarah Bowden to run the new book. The coverage will offer financial protection to policy-h...
Posted: Mar 24, 2023
Group captives are becoming increasingly appealing as a solution for many companies during this period of financial volatility and inflationary pressure, according to analysts at the Insurance Information Institute (Triple-I). A new report by Trip...
Posted: Mar 24, 2023
Ballantyne Brokers Ltd, a new independent Lloyd’s broker based in London, has announced it has completed a management buyout (MBO) from its parent company K2 Insurance Services. The MBO was led by founders, Ross Ballantyne and Richard Spragg, and...
Posted: Mar 24, 2023
AdvantageGo, a leading commercial re/insurance software provider, and InsurTech provider Zywave, have announced a new strategic alliance. The expanded relationship between the two firms will heavily centre on the integration of Zywave’s rating and...
Posted: Mar 24, 2023
Send Technology Solutions (Send), a rapidly growing UK-based Insurtech software company, and Sollers Consulting have announced a new partnership to deliver Send’s underwriting platform to commercial and specialty insurers. Through this new partner...
Posted: Mar 24, 2023
Tech specialist MGA elseco has bolstered its leadership, risk analysis, and modelling capabilities within its space insurance team, naming Ludovic Arnoux as Group Space Risks Technical Director and Laurent Esquirol as Client Advocate and Launch Sy...
Posted: Mar 24, 2023
Speaking to the Financial Times (FT), John Neal, Lloyd’s CEO, suggested the increase in global insurance spending over the next decade is to be driven by a greater perception of risks such as bank failures and climate change. According to FT...
Posted: Mar 23, 2023
Global rating agency AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to Ping An Property & Casualty Insurance Company of China, Ltd., (Ping An P&C). Best has confir...
Posted: Mar 23, 2023
Great American Insurance Group has promoted Elizabeth M. Shepherd to Divisional President, Cyber Risk. Shepherd joined Great American in 2018 as a Divisional Senior Vice President, where she played a key role in consolidating the company’s cyber r...
Posted: Mar 23, 2023
Munich Re Life US and insurtech Paperless Solutions Group (PSG) have announced a new combined risk assessment and e-application solution, that allows life insurance carriers to underwrite new policies faster and with greater accuracy. The solution...
Posted: Mar 23, 2023
Marsh McLennan India, the regional operation of the global insurance and reinsurance broking powerhouse, has announced Sanjay Kedia as its new CEO. Kedia will be taking over in the new role starting April 2023 and this role comes in addition to hi...
Posted: Mar 23, 2023
Analysts at AM Best have warned that the insurance-linked securities (ILS) market finds itself “at a crossroads” following several years of heightened catastrophe losses, and with the supply of capital set to remain low while investors re-assess t...
Posted: Mar 23, 2023
Seth Ruff, Head of Structured Reinsurance at Howden Tiger, the reinsurance arm of international re/insurance broker Howden Broking Group, has assumed the additional role of Head of Legacy. Furthermore, the Legacy and Investment Banking divisions h...
Posted: Mar 23, 2023
The US property and casualty (P&C) industry recorded a net underwriting loss of $26.5 billion in 2022, according to data from AM Best, worsening by $21.5 billion from the previous year. The rating agency’s data was compiled from companies whos...
Posted: Mar 23, 2023
Re/insurance broker Aon, has announced a new collaboration with science crowdsourcing organisation Lifeguard to boost emerging risk insights in the property and casualty insurance sectors through engagement with the scientific community worldwide....
Posted: Mar 23, 2023
Navitas Assurance Partners, a specialty managing general underwriter (MGU), has announced its collaboration with Crum & Forster’s Credit Division and Great American Insurance Company’s FCIA Trade Credit & Political Risk Division. According...
Posted: Mar 23, 2023
Global reinsurers’ combined ratios deteriorated marginally to 95.7% for FY2022, despite this it remains strong while investment losses went up weighing on the average full-year ROE, which dropped to 10%, a Gallagher Re report revealed. Accor...
Posted: Mar 23, 2023
CAPE Analytics, a leader in AI-powered geospatial property intelligence, has partnered with Google Cloud to develop predictive analytics that enhance risk management for insurance carriers and property valuation solutions for the real estate and m...
Posted: Mar 23, 2023
Re/insurance broker Besso has announced the appointment of Shreyaa Vohra to the role of Managing Director of Besso Re Middle East. In her new role, based in Dubai, she will be responsible for developing the company’s facultative portfolio, predomi...
Posted: Mar 23, 2023
The Ardonagh Group has reported a 30% increase in income to $1.5 billion in its full year results, representing five-fold growth in the five years since its formation. Meanwhile, adjusted EBITDA rose 22% to $476 million from $390 million in 2021....
Posted: Mar 23, 2023