Reinsurance News
Florida-based HCI Group has reported a net income of $2.7 million in the fourth quarter of 2022, compared with a net income of $1.4 million, from the fourth quarter of 2021. At the same time, the company’s net loss for the year so far currently st...
Posted: Mar 10, 2023
Lloyd’s third-party managing agent Asta has announced the strengthening of its global presence by setting up a service company in Singapore. Asta states that it has launched a service company that will enable clients to easily establish a Lloyd’s...
Posted: Mar 10, 2023
Allstate’s Florida-focused Castle Key Group – and its members – has had its B+ Financial Strength Rating (FSR) and Long-Term Issuer Credit Rating of bbb- placed under review with negative implications by AM Best. According to the annou...
Posted: Mar 10, 2023
Carbon insurance specialist Kita has hired (re)insurance & climate risk executive James Kench as Head of Insurance following an oversubscribed £4m seed funding round led by Octopus Ventures, alongside existing investors Insurtech Gateway, Carb...
Posted: Mar 10, 2023
Allianz Group has announced that it will serve the global commercial insurance segment as one go-to-market business under the trading name Allianz Commercial. The business will contain an integrated approach that encompasses its Allianz Global Cor...
Posted: Mar 10, 2023
AM Best has downgraded the Credit Ratings of SCOR, noting that the decision reflects deterioration in the French reinsurer’s operating performance, which is no longer considered supportive of AM Best’s previous strong assessment. The rating...
Posted: Mar 10, 2023
Swiss Re has agreed to sell its Germany-based subsidiary Movingdots, a provider of insurance telematics and sustainable mobility solutions, to Powerfleet. Movingdots’ buyer is described as a global leader of Internet of Things (IoT) software-as-a-...
Posted: Mar 10, 2023
Markel International, a subsidiary of Markel Corporation, has announced that it has appointed Jan Pagan as a specialist risk control engineer within its renewable energy team. In the role, Pagan will be based at Markel’s London office, reporting t...
Posted: Mar 10, 2023
Independent specialist re/insurer, Apollo has announced a new, three-year agreement with Praedicat, a California-based emerging risk analytics and modelling company, to harness emerging risk insights. Through this partnership, Apollo will be able...
Posted: Mar 10, 2023
Tom Kennet has been appointed head of political violence and terrorism (PVT) of Optio Group, a specialty Managing General Agency (MGA). Kennet brings to his new role more than 12 years of class-specific expertise, as well as both broking and under...
Posted: Mar 10, 2023
Tom Kennett has been appointed head of political violence and terrorism (PVT) of Optio Group, a specialty Managing General Agency (MGA). Kennett brings to his new role more than 12 years of class-specific expertise, as well as both broking and und...
Posted: Mar 10, 2023
Insurance brokerage Lockton has announced the launch of Lockton 360, a proprietary workers’ compensation consulting framework. The service is designed to help employers address one of their most important and potentially costly risks. Typica...
Posted: Mar 10, 2023
Specialist reinsurance managing general agent (MGA), Connect Underwriting Limited has appointed Ahsan Abdul Majid as Chief Commercial Officer (CCO) for its newly launched holding company: ConnectUW Holdings LTD. The new business has been establish...
Posted: Mar 10, 2023
The Hilb Group, a leading property and casualty (P&C) and employee benefits insurance brokerage, has acquired E/G of Florida. The acquisition of E/G of Florida plays a significant role in expanding the company’s growing presence in the S...
Posted: Mar 10, 2023
The Worldwide Broker Network (WBN) has announced that Säkra, EBM, Protec and Horsell Duffy Langley (HDL) have joined as members. WBN has also welcomed International Medical Group and Sompo International as new sponsors, in addition to the membersh...
Posted: Mar 10, 2023
Antoine Bavandi, Global Head of Public Sector & Climate Resilience Solutions at Gallagher Re, has contended that re/insurance cover alone is no “silver bullet” to matching capital with risk and addressing the growing challenge of climate resil...
Posted: Mar 09, 2023
Capco, a technology and management consultancy has appointed both David Radvany and Michael Hertzig as Partners within it US insurance practice. As partners of the practice, both Radvany and Hertzig will work closely with Ernst Renner, Partner and...
Posted: Mar 09, 2023
Emil Frey Group, a Swiss group of companies with various businesses in the automotive space, has partnered with iptiQ, Swiss Re’s B2B2C digital insurer, to launch a digital insurance solution named Emily Frey protect. According to the announ...
Posted: Mar 09, 2023
Brazilian reinsurance company IRB Brasil RE has recorded a net loss of R$630.3 million in its full-year results, compared to a net loss of R$682.7 million from 2021. At the same time, for Q4 22, the firm came close to reaching the break-even point...
Posted: Mar 09, 2023
Reinsurance broker Gallagher Re is set to expand its operations in India with the creation of a single treaty reinsurance team that will be led by Vinod Krishnan, following an agreement to acquire the treaty reinsurance broking operations of Willi...
Posted: Mar 09, 2023
Analysts at S&P Global Ratings anticipate that Lloyd’s will continue its profitable underwriting momentum in 2023. The analysts note that Lloyd’s strong year-end 2022 underwriting results reflect its focus on underwriting controls...
Posted: Mar 09, 2023
Parametric weather insurtech Vortex Insurance has announced the launch of a new insurance program that allows for the purchase of supplemental hurricane insurance for parts of the US. Set to launch in Spring 2023, Vortex’s supplemental hurri...
Posted: Mar 09, 2023
Nirvana, a managing general agent (MGA), has launched in London after acquiring Nirvana Risk Partners, – a leading media, tech and cyber underwriter, from MGA formation platform Castel Underwriting Agencies in a management buyout. Backed by...
Posted: Mar 09, 2023
The US Federal Emergency Management Agency (FEMA) has returned to the capital markets to secure another $275 million of reinsurance protection for the National Flood Insurance Program (NFIP). The FloodSmart Re Ltd. (Series 2023-1) deal marks the s...
Posted: Mar 09, 2023
Private mortgage insurance provider Enact Holdings has announced that its flagship legal entity, Enact Mortgage Insurance Corporation, has secured $180 million of additional excess of loss (XOL) reinsurance coverage. This credit risk transfer (CRT...
Posted: Mar 09, 2023