Reinsurance News
Cyber specialist Corvus Insurance has announced that it has expanded its Frankfurt, Germany-based team by appointing cyber underwriters and a local head of cybersecurity services. The addition of these hires will provide support in meeting demand...
Posted: Mar 23, 2023
Investor appetite for insurance assets achieved a new annual record in 2022, with European insurance M&A activity reaching all-time high despite economic headwinds, according to a recent report by FTI Consulting, Inc. The pace of activity seen...
Posted: Mar 23, 2023
Lloyd’s, the specialist insurance and reinsurance marketplace, has today announced an improved underwriting profit of £2.6 billion in its 2022 full year results, although a net investment loss of £3.1 billion resulted in an overall loss befo...
Posted: Mar 23, 2023
The Lloyd’s Market Association (LMA) has announced the results of the LMA Claims Committee (LMACC) elections. The LMACC ballot for five elective membership positions closed at the end of February. Two members of the LMACC who stood for a second te...
Posted: Mar 23, 2023
Newly-launched media, tech and cyber MGA Nirvana has appointed industry veteran Thomas M. Mannsdorfer as part of its leadership team to build out a European underwriting business. Mannsdorfer has over two decades of experience as a mergers and acq...
Posted: Mar 23, 2023
Kin, a direct-to-consumer home insurance company has announced that it has conducted a third close, an incremental $15 million, to its Series D round in the fourth quarter of 2022. The company confirmed that the investment came from Geodesic Capit...
Posted: Mar 23, 2023
Specialist insurance provider CFC has announced the expansion of its admitted product suite offerings with the additions of professional liability and technology E&O. Leveraging CFC’s trading platform and API – Connect – US brokers...
Posted: Mar 23, 2023
Cowbell, a leading provider of cyber insurance for small and medium-sized enterprises (SMEs) has announced the opening of a new technology center in Pune, India. The new center will augment the firm’s existing development centers in Pleasanton, Ca...
Posted: Mar 23, 2023
Speaking at a conference hosted by investment bank Berenberg, Conduit Re’s chairman, Neil Eckert, suggested that despite expecting new capital to be drawn in following the repricing of risk, the inflow may not be large enough to put signific...
Posted: Mar 22, 2023
Insurtech Joyn Insurance has announced the addition of Brian Duperreault, former AIG CEO, to its board as an independent director. This move follows the appointment of Jim Hackbarth as the company’s first independent director announced earlier thi...
Posted: Mar 22, 2023
Online reinsurance pricing and placing platform, Tremor Technologies has announced the launch of cross-placement optimization tools, which it says will enable buyers to get best execution for all of their reinsurance placements simultaneously. Tr...
Posted: Mar 22, 2023
The world’s leading providers of cloud services suffered 1,190 performance disruptions across their cloud landscape in 2022, of which 492 were classified as critical, according to a report from Parametrix. Businesses were affected by limited acces...
Posted: Mar 22, 2023
Chubb Limited has announced a new underwriting criteria for oil and gas extraction projects that will require clients to reduce methane emissions, a byproduct of oil and gas production that are among the most severe greenhouses gases. At the same...
Posted: Mar 22, 2023
P&C insurer Skyward Specialty has announced its entry into the global agriculture market, naming James Tran as Senior Vice President, Global Agriculture, to spearhead the expansion. Skyward Specialty states that its global agriculture unit wil...
Posted: Mar 22, 2023
According to a new report from Hymans Robertson, total pension scheme buy-in and buy-out volumes reached £27.9 billion in 2022. In the firm’s 2023 Risk Transfer Report, it shows that buy-in and buy-out pricing improved steadily in the six + months...
Posted: Mar 22, 2023
Global reinsurance business Ariel Re has announced the promotion of twelve staff in its London and Bermuda offices. They cover a range of roles from underwriting and accounting through to analytics and portfolio management. According to the announ...
Posted: Mar 22, 2023
According to re/insurance broker Aon, the UK bulk annuity market recorded a total volume of £27.8 billion in 2022 and experienced its fourth successive year where more than £25 billion of business was written. In the firm’s latest UK Risk Settleme...
Posted: Mar 22, 2023
GuarantCo, part of the Private Infrastructure Development Group (PIDG), has closed its first syndication transaction via the credit insurance market with specialty insurer and reinsurer Canopius. The transaction involved the use of a non-payment i...
Posted: Mar 22, 2023
Global reinsurer Swiss Re has estimated that total insured losses from both natural and man-made catastrophes amounted to $132 billion last year, with economic losses thought to be more than double this figure at $284 billion. The insured total co...
Posted: Mar 22, 2023
Bermuda-based reinsurer PartnerRe has reported a net loss of $1.1 billion for the full year 2022, citing unrealized losses on fixed maturities and short-term investments of $1.8 billion as a key driver. This compares to a net income of $679 millio...
Posted: Mar 22, 2023
The Mozambique government has secured USD 35 million of parametric cyclone insurance via the National Institute of Disaster Management (INGD), supported by Africa Specialty Risks, The World Bank, and PULA. The inaugural, Mozambique cyclone paramet...
Posted: Mar 22, 2023
Sompo International, a global provider of commercial and consumer property and casualty re/insurance, has announced the opening of a new office in Birmingham, England. Located at The Colmore Building in the Colmore Business District, Sompo’s new o...
Posted: Mar 22, 2023
Analysts at AM Best have reported that French insurers and reinsurers are increasingly beginning to reassess their natural catastrophe assumptions following another year of extreme weather in 2022, which included record high temperatures and low r...
Posted: Mar 22, 2023
Ryan Specialty’s managing general underwriter, WKFC Underwriting Managers (WKFC), has announced the promotions of Ravi Singhvi to President, and Joan Bauer to Chief Operating Officer, both effective immediately. Singhvi joined WKFC in 2018 and was...
Posted: Mar 22, 2023
Cyber insurance provider Coalition has released its new Active Cyber Risk Model, a framework for understanding cyber risk aggregation that provides an ongoing view into organisations’ cyber risks and identifies preventive measures to protect again...
Posted: Mar 22, 2023