Reinsurance News
Porch Group, Inc., a vertical software company has announced that its insurance business, Homeowners of America (HOA) has filed an application to form and license a Texas reciprocal insurance exchange with the Texas Department of Insurance (TDI)....
Posted: Mar 20, 2023
Pension Insurance Corporation Group Limited, the ultimate parent company of Pension Insurance Corporation plc (PIC), the specialist insurer of UK defined benefit pension schemes, has released its full-year results for 2022. The company reported a...
Posted: Mar 20, 2023
Consilium, the globally specialty re/insurance broking business of the Aventum Group, has added Toby Gorman and Matt Taylor as partner and associate partner, respectively, to the company’s delegated risk solutions division. Both of these appointme...
Posted: Mar 20, 2023
AXA XL has announced it has added a fleet management benchmarking service to its loss prevention services for its Construction insurance clients in North America. The purpose of this service is to help contractor clients see how their own corporat...
Posted: Mar 20, 2023
Global rating agency AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of the operating entities of Trisura Group Ltd....
Posted: Mar 20, 2023
CoreLogic has estimated that 5,895 single and multifamily residential properties with a combined reconstruction value (RCV) of $2.88 billion are at risk of flooding following the Pajaro River in Central California overflowing its levee. On March 1...
Posted: Mar 20, 2023
Analysts at JP Morgan have assured that European insurers’ exposure to bank corporate credit and AT1 bonds are low, after a rescue deal for the beleaguered Credit Suisse shocked some investors by leaving their bonds worthless. JP Morgan notes that...
Posted: Mar 20, 2023
Berkshire Hathaway Specialty Insurance (BHSI) has promoted Ben Ruddlesdin to Head of Professional Indemnity & Cyber (UK), where he will continue to be based in London. In his most recent role at the firm, Ruddlesdin served as Senior Underwrite...
Posted: Mar 20, 2023
International insurance broker Howden has appointed Andy Cox as Head of Energy Transition, effective immediately. Cox holds over three decades of experience in the energy sector, having previously served as a Partner at KPMG. His most recent posit...
Posted: Mar 20, 2023
Zurich-based catastrophe insurance data provider PERILS has disclosed its third industry loss estimate for Typhoon Nanmadol, raising it to JPY 129.6bn ($988m). This latest figure compares to PERILS’ previous loss estimates of JPY 119.7bn (USD 910...
Posted: Mar 20, 2023
A report from Moody’s Investors Service has suggested that while the increase in interest rates within the last year has been positive for life insurers in Europe, the fast pace of the increase means that a majority of insurers are now sitting on...
Posted: Mar 20, 2023
Legal & General (L&G) and Lifetri have announced plans to enter into a long-term strategic relationship, under which L&G will support Lifetri, as it expands to write further Dutch pension risk transfer (PRT) business for defined benefi...
Posted: Mar 20, 2023
Eurohold Bulgaria has announced that its reinsurance unit, EIG Re, will keep and protect the assets of Euroins Romania following an “abusive” and “irresponsible” withdrawal of its operating licence and request for the launc...
Posted: Mar 20, 2023
AdvantageGo, a commercial re/insurance software provider and VIPR Solutions, have announced a strategic alliance. Under the alliance, AdvantageGo’s Underwriting workbench APIs will import bordereaux data for delegated authority business by i...
Posted: Mar 20, 2023
The International Bank for Reconstruction and Development (IBRD), has priced a joint catastrophe bond and swap transaction that provides a total of $630 million of earthquake insurance coverage to the Government of Chile. The deal by the lending a...
Posted: Mar 17, 2023
Axis Capital, a global specialty underwriter and provider of re/insurance solutions, has announced the promotion of Inmaculada Gonzales to Deputy Global Head of Ceded Reinsurance. In her new role, she will help advance ceded reinsurance strategic...
Posted: Mar 17, 2023
Data from the latest IVANS Index shows that year over year all lines of business experienced an increase in average premium renewal rate over February. According to the report, Business Owners Policy (BOP) and Commercial Property remain the highes...
Posted: Mar 17, 2023
Great American Insurance Group has announced the promotion of Thomas V. Colosi to Divisional President, Alternative Markets. Collectively, Colosi has 35 years of insurance experience and has expertise in underwriting specialty captives and program...
Posted: Mar 17, 2023
There has been a 70% uplift in re/insurance Non-Executive Director (NED) remuneration since 2018, according to a recent report by Damhurst, an executive search firm serving the global re/insurance community. The report provides NED remuneration da...
Posted: Mar 17, 2023
Risks from mark-to-market losses, capital issues and liquidity from the failure of the Silicon Valley Bank (SVB) “do not have any significant read” across to the European insurance sector as it has a number of protective drivers, according to JP M...
Posted: Mar 17, 2023
Specialty P&C insurer AmTrust Financial Services has made new additions to its Commercial Lines team, naming Ken Surian as Senior Vice President, Product Management, and Brian White as Vice President, Product Strategy. Surian joins AmTrust fro...
Posted: Mar 17, 2023
AXA XL has backed the launch of Intangic MGA, a data science-driven, London-based cyber Managing General Agent (MGA), that offers innovative cyber insurance cover for large public corporations headquartered in the UK. The MGA is led by an executiv...
Posted: Mar 17, 2023
Honan Insurance Group has boosted its service capability and reach in the New Zealand market through the acquisition of Certus Insurance Brokers (CIBNZ). According to Honan, the acquisition signifies its continued growth ambition and diversificati...
Posted: Mar 17, 2023
Bermuda-based insurer R&Q Insurance Holdings has announced the completion of the sale of its 40% minority holding in the New York-based Managing General Agent, TPM Holdings USA, (Tradesman). In February, it was reported that R&Q had reache...
Posted: Mar 17, 2023
A new report by re/insurance marketplace Lloyd’s, delivered in collaboration with broker WTW, has warned that the global electronics industry is threatened by semiconductor supply chain risks, which are set to be exacerbated by a lack of available...
Posted: Mar 17, 2023