Reinsurance News
Aviva has reported General Insurance gross written premiums (GWP) are up 8% to £9,749 million in its full-year financial results for 2022, compared to the prior year’s £8,807 million. The firm notes UK & Ireland GWP are up 7% to £5,740 million...
Posted: Mar 09, 2023
Xchange Benefits, a managing general underwriter owned by Ambac Financial Group, has appointed Christopher LaDelfa as Senior Vice President and head of its Captive Solutions unit, a New Jersey based role. According to the announcement, the captive...
Posted: Mar 09, 2023
German reinsurer Hannover Re expects a net loss of in the range of €200 million in the first quarter of 2023 as a result of the devastating earthquakes in Turkey and Syria, which together with losses from the severe weather in New Zealand, has ero...
Posted: Mar 09, 2023
Aon has updated its Impact Forecasting Europe Windstorm and Severe Convective Storm (SCS) catastrophe models to incorporate emissions scenarios that inform current and future projections of climate and storm activity across the continent. Accordin...
Posted: Mar 09, 2023
Mosaic Insurance has announced that it has appointed Jennifer Zhu, Principal at Golden Gate Capital, a San Francisco-based private-equity, to its Board of Directors, effective immediately. Zhu joins six other directors of the company, including Bo...
Posted: Mar 09, 2023
The Lloyd’s insurance and reinsurance market is seeing an uptick in reinsurance submissions in the first-quarter of 2023, as syndicates and participants work through the impacts of the January renewals, according to Chief of Markets Patrick Tierna...
Posted: Mar 09, 2023
Mosaic Insurance has opened an office in Singapore, hiring specialty underwriters Benn Wilson and Edwin Chau to build its transactional liability business across the Asia-Pacific region. Wilson takes on the roles of regional CEO and Head of Asia f...
Posted: Mar 09, 2023
Specialist property & casualty (P&C) insurer, Greenlight Re, has reported net income of $34.8 million for the fourth quarter of 2022, a substantial rise from $24.3 million from the fourth quarter of 2021. Gross premiums written in Q4 were...
Posted: Mar 09, 2023
Industry veterans Oliver Schofield and Malcolm Cutts-Watson, principles of Risk and Insurance Strategy Consultants (RISCS) and Cutts-Watson Consulting (CWC) have announced the completion of the merger of their respective businesses into the newly...
Posted: Mar 09, 2023
Business intelligence and telematics will be the latest trends in the property and casualty (P&C) insurance industry emerging for the second quarter, a recent analysis by insurance solutions provider Waterstreet Company has revealed. The compa...
Posted: Mar 09, 2023
Pension Insurance Corporation plc (PIC), a specialist insurer of defined benefit pension funds, has announced that it has concluded a full buy-in transaction with the Trustees of the Spirent Communications plc Staff Pension & Life Assurance Pl...
Posted: Mar 09, 2023
Hannover Re, one of Europe’s big four reinsurers, has announced a rise in net income for the full year 2022, although the firm’s property and casualty (P&C) combined ratio deteriorated to 99.8% as large loss expenditure exceeded ex...
Posted: Mar 09, 2023
Strategic Risk Solutions has announced that it has acquired a majority interest in Alpha Isle Services, a specialist medical stop loss claims administrator. Founded in 2021, AIS is led by Anne Trupiano, Robyn Eagan, and Nina Carrico. The buisness...
Posted: Mar 09, 2023
Solar risk management provider kWh Analytics has announced a partnership with Pivot Energy, LLC, to provide solar revenue put production insurance for multiple distributed solar projects totaling 70 MW across six states. The solar revenue put was...
Posted: Mar 09, 2023
Independent specialist re/insurance broker Miller has announced the appointment of Richard Walmsley to its Sports and Entertainment team. In his new role, Walmsley will focus on strategic business opportunities for the Sports team including federa...
Posted: Mar 09, 2023
Kinsale Capital Group has announced the promotions of Brendan McMorrow to Senior Vice President, Underwriting, Eric Gentry to Vice President, Underwriting, Amber Sheridan to Senior Vice President, Chief Human Resources Officer, and Chris Tangard t...
Posted: Mar 09, 2023
Dubai International Financial Centre (DIFC), a leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, has granted a captive licence to Ma’aden, the largest multi-commodity mining and metals company in the Middle...
Posted: Mar 09, 2023
U.S. commercial auto insurance liability claim payouts swelled $30 billion more than anticipated between 2012-2021 due in part to social inflation, suggests a paper by the Insurance Information Institute (Triple-I), in partnership with the Casualt...
Posted: Mar 08, 2023
ICEYE, a provider of natural catastrophe solutions and insights, has described the provision of a recent parametric flood scheme for high-risk areas in New York City as a “cornerstone step” towards addressing the flood protection gap. The cover wa...
Posted: Mar 08, 2023
Aspen Insurance Holdings Limited, a Bermuda-based re/insurer, has announced the appointment of David Altmaier to its Board as a Non-Executive Director. According to the announcement, Altmaier’s appointment is subject to receipt of any required reg...
Posted: Mar 08, 2023
Property and casualty insurer Aviva Canada, with support of insuretech CelsiusPro, is now offering parametric excess rain coverage to help its clients better cope with climate change. The new offering will use CelsiusPro’s White Label Platform (WL...
Posted: Mar 08, 2023
A new report from AM Best has shown that weather-related losses persisted for the US property & casualty (P/C) insurance segment in 2022, which ultimately pressured financial results in a year that also witnessed a 40-year high for inflation,...
Posted: Mar 08, 2023
Floodbase, a climate adaption technology company, has been selected through the Department of Homeland Security (DHS) Science and Technology Directorate’s Silicon Valley Innovation Program (SVIP) to strengthen the Federal Emergency Management Agen...
Posted: Mar 08, 2023
The Bermuda insurance and reinsurance marketplace weathered the impacts of multiple heavy loss years, the global pandemic, and the more recent rise in interest rates and inflation extremely well, despite the acute and far-reaching effects, accordi...
Posted: Mar 08, 2023
Helen Ye has been named Chief Executive Officer of DUAL Alpha Underwriting, an MGA brand operated by the DUAL Group. Ye joins DUAL Alpha Underwriting from OneInfinity, a firm that offers businesses in the blockchain and cryptocurrency industry cus...
Posted: Mar 08, 2023