Reinsurance News
Ardonagh Specialty, part of the Ardonagh Group, has announced the completion of its purchase of Oxford Insurance Group. The acquisition was originally announced in October 2022. The addition of Oxford Insurance Group will bring $250 million of gro...
Posted: Mar 02, 2023
Amwins has highlighted in its Q123 State of the Market report, that due to the dislocation within the property market, reinsurers are being “extremely cautious” with all their capacity, which ultimately may have an adverse effect on the casualty m...
Posted: Mar 02, 2023
Allianz Commercial has announced the promotion of Karen Pickersgill to the role of regional underwriting manager for London. Pickersgill joined Allianz in 1999 following roles at Aviva and Cigna and has since held several underwriting management p...
Posted: Mar 02, 2023
CNA Hardy, a leading specialist commercial insurance provider for clients within the Lloyd’s and company markets, has announced the launch of a new package product solution for multinational businesses called Solutions Atlas. The insurer is buildi...
Posted: Mar 02, 2023
Ardonagh Group’s reinsurance broking arm, Inver Re, has appointed Alun Thomas in the new role of Global Head of Property Reinsurance, where he will report to Chris Bonard, CEO – Bermuda. In the role, Thomas will take on responsibility for de...
Posted: Mar 02, 2023
H2 Group, a Bermuda-based technology company specialised in developing bespoke solutions for the insurance industry, has announced its official launch and introduced its inaugural product, RUDDR, a policy management system. According to the announ...
Posted: Mar 02, 2023
Chubb Tempest Re has appointed Wayne Ashley as Division President, Chubb Tempest Re International. The appointment, which is subject to regulatory approval, is expected to be effective on April 1, 2023. Within the role, Ashley will report to Jim W...
Posted: Mar 02, 2023
Bermuda-based insurance and reinsurance holding company, Fidelis Insurance Holdings Limited, has confirmed that it intends to pursue an initial public offering of its common shares, following the establishment of Fidelis MGU last month. The recent...
Posted: Mar 02, 2023
Munich Re Syndicate has announced a new capacity agreement with FloodFlash. This agreement further extends an existing carrier partnership between the two firms that began with FloodFlash’s UK book of business in 2020. The announcement of this agr...
Posted: Mar 02, 2023
Specialist insurer and reinsurer Beazley has reported a 48% dip in profits for 2022 as a poor investment performance offset improvements in its underwriting result. Beazley’s profit before tax for the year came to $191.0 million, compared with $36...
Posted: Mar 02, 2023
French reinsurer SCOR has reported a net loss of €301 million for the full year 2022, citing natural catastrophes such as Hurricane Ian and the hailstorms in France, as well as the war in Ukraine and ongoing macroeconomic pressures as key driving...
Posted: Mar 02, 2023
USQRisk, an international managing general agent (MGA) specialising in alternative risk transfer solutions, has announced the appointment of Rhys Jones as head of UK pricing and senior underwriter. In his new role, Jones will be in charge of overs...
Posted: Mar 02, 2023
Despite a growing interest in cyber insurance, the organisational structures, workplace culture, and wider risk management ecosystems that combine to minimise cyber threats are still often lacking, cyber experts told S&P Global Ratings. They a...
Posted: Mar 02, 2023
Specialty insurer ProAssurance Corporation has announced the retirement of Mike Boguski as President of Specialty Property & Casualty on June 30, 2023. The firm noted that Boguski will be available through the end of the year to consult and as...
Posted: Mar 02, 2023
OneAdvent, a specialist MGA and broker services platform, has appointed Richard Palmer as head of compliance & risk, to build and strengthen the business’s compliance function. In his new role, Palmer will be responsible for creating robust co...
Posted: Mar 02, 2023
Investment firm Integrum Holdings has partnered with, and invested in, Strategic Risk Solutions (SRS), with Insurance Advisory Partners and Waller Helms Advisors acting as the respective exclusive financial advisors. SRS, a provider of insurance m...
Posted: Mar 02, 2023
Smart Port technology company, Saiber Innovation Technologies and Ports & Terminals cyber insurance specialist CYMAR Management Ltd., have announced a strategic partnership to address the demanding cyber insurance needs of the global maritime...
Posted: Mar 02, 2023
US health insurers are preparing for changes arising from the end of government mandates involving Medicaid managed care and Medicare Advantage, whose underwriting results were driving the overall earnings for the segment so far, said AM Best in a...
Posted: Mar 01, 2023
Global re/insurer AIG has appointed Rana Nasr as Senior Property Underwriter – FAC Reinsurance, GCC & North Africa. Nasr joins AIG from Active Capital Reinsurance, Ltd., where she served as regional representative & property underwri...
Posted: Mar 01, 2023
22 different re/insurers have supported Fannie Mae’s first Credit Insurance Risk Transfer (CIRT) deal of 2023, on $11.8 billion of single-family (SF) loans As part of Fannie Mae’s ongoing effort to reduce taxpayer risk by increasing the role...
Posted: Mar 01, 2023
Enstar Group has reported a net loss of $906 million for 2022, after booking an investment segment loss of $1.3 billion due to volatility in the market. The company’s headline performance metric was much lower than the net earnings of $502 million...
Posted: Mar 01, 2023
Global advisory, broking, and solutions company WTW has announced the appointment of Leigh Ann Rodgers as its Western Region Client Strategy Leader for Real Estate, Hospitality, and Leisure within Corporate Risk and Broking (CRB), North America. I...
Posted: Mar 01, 2023
Specialty insurer and reinsurer Canopius has hired David Mutton from AXA XL to lead its new trading office in Melbourne, Australia, as Casualty Underwriter, APAC, effective immediately. Initially, the re/insurer will write casualty business from t...
Posted: Mar 01, 2023
In an interview with Reinsurance News, Heather Wentworth, Chief Data Officer at Accelerant, has suggested that the insurance industry as a whole is not “making enough progress” to get the data needed to successfully use artificial intelligence (AI...
Posted: Mar 01, 2023
Fidelis MGU has announced the promotion of Ben Fortune to Chief Underwriting Officer of its Bermuda operation Launched last year, the MGU is part of Bermuda-based insurance and reinsurance holding company, Fidelis Insurance Holdings Limited. With...
Posted: Mar 01, 2023