Reinsurance News
Independent insurance distribution firm BRP Group has reported a loss of $76.7 million for the full year in 2022, as its performance worsened from the $58.1 million loss reported in 2021. This figure included an operating loss of $31.0 million, si...
Posted: Mar 01, 2023
P&C insurer Skyward Specialty has reported a “strong” 2022 fourth quarter, with a net income of $20.4 million and an improved combined ratio of 92.4%. These figures compared to $1.3 million of net income reported in the fourth quarter of 2021,...
Posted: Mar 01, 2023
Insurance and analytics provider Verisk has reported $61.2 million net income for the fourth quarter of 2022, compared to a $141.8 million net income from the same period last year. Revenues from the firms continuing operations increased marginall...
Posted: Mar 01, 2023
Insurance and analytics provider Verisk has reported income from continuing operations of $215.8 million for the fourth quarter of 2022, a rise of more than 82% from the $118.3 million reported a year earlier. Verisk attributes the year-on-year ri...
Posted: Mar 01, 2023
Specialty insurer Trisura Group has reported a net loss of $40.3 million for the fourth quarter of 2022 due in large part to a $81.5 million write down of reinsurance recoverables relating to a contract dispute. Trisura explained that it had a “di...
Posted: Mar 01, 2023
Probitas Syndicate 1492 has reported that underwriting year gross written premium grew over 27% from £183m in 2021 to £234m in 2022, with a further 16% pre-emption for 2023 to £271m. Probitas also announced a 2022 GAAP year NCOR (net combined oper...
Posted: Mar 01, 2023
Global specialty insurer Ryan Specialty Holdings, Inc. has reported revenue growth of 14.9% in the fourth quarter of 2022 to $435 million, as net income increased by almost 55% to $45.8 million, compared with $29.6 million a year earlier. The orga...
Posted: Mar 01, 2023
A report from Moody’s Investors Service says that trade credit insurers, which insure sellers against the risk of non-payment, are well placed to cope with an anticipated increase in claims in the months ahead as global economic growth begin...
Posted: Mar 01, 2023
Reinsurance giant Swiss Re and automotive tech firm Luminar have partnered to advance assisted driving and improve safety while reducing the costs of consumer adoption. Luminar notes that the first step of the joint initiative is to analyse the on...
Posted: Mar 01, 2023
Davies, a leading specialist professional services and technology business has announced a new organisational structure that will see the company simplify its operations, following a period of organic and M&A growth. From March 1, 2023, the fi...
Posted: Mar 01, 2023
Karson Management Limited, an innovative FinTech platform that provides capital-efficient solutions for financing & collateral, investing & asset management as well as risk transformation, has announced the appointment of Martin Kauer as E...
Posted: Mar 01, 2023
Growing MGU RB Jones has secured additional capacity from fellow H.W. Kaufman-owned entity, Atain Insurance Companies, which it will deploy to expand its Primary Marine and Excess Marine & Energy Liability business. RB Jones is currently colla...
Posted: Mar 01, 2023
Analysts at Moody’s expect the supply and demand imbalance in the global reinsurance market to persist amid a continuation of strong pricing, while credit conditions will also be supported by improved investment income on the back of rising...
Posted: Feb 28, 2023
UFG Insurance, a P&C insurer based in the US, has announced the appointment of Kathy Dnistrian as Senior Reinsurance Underwriter within the firm’s assumed reinsurance segment. In her new role, she will take the lead on many existing and new tr...
Posted: Feb 28, 2023
Analysts at the World Bank have estimated that the recent devastating earthquakes that occurred in Turkey will result in some $34 billion of economic costs, based on direct physical damages. At this level, losses from the February quakes would be...
Posted: Feb 28, 2023
New data from Legal and General shows that the US pension risk transfer (PRT) market had a record year in 2022 with an estimated $53 billion in total market volume, significantly exceeding the 2021 record of $38 billion. This is according to the l...
Posted: Feb 28, 2023
During an interview with AM Best TV at the annual Artemis ILS conference in New York on February 10th, Adam Schwebach, executive vice president, Gallagher Re explained how we are starting to see “the tide turn” within Florida’s insurance market. D...
Posted: Feb 28, 2023
ACORD Solutions Group has announced that DXC Technology will expand its usage of ADEPT (ACORD Data Exchange Platform and Translator) to enable users of its SICS platform to transact with global (re)brokers, cedents, and reinsurers. ADEPT is a plat...
Posted: Feb 28, 2023
Hudson Structured Capital Management Ltd. (HSCM) – conducting its insurance business as HSCM Bermuda – has announced the launch of the HSCM Insurance Credit Strategy. Concurrent with the launch, Security Benefit Life Insurance Company (SBL),...
Posted: Feb 28, 2023
Reports from the Nikkei suggest that Japan’s MS&AD Insurance Group could be looking into closing some of its overseas locations in an effort to improve profitability across the group and meet its performance goals. Speaking in an interview wit...
Posted: Feb 28, 2023
Bermuda domiciled insurance holding company, James River Group Holdings Ltd., has reported a total net income of $15.1 million for the fourth quarter of 2022, compared to a $66.3 million net loss from the prior year quarter. Adjusted net operating...
Posted: Feb 28, 2023
New Zealand insurer Tower Limited has reported solid growth in Q1 of the 2023 financial year as the company remains resilient following the Auckland & Upper North Island Weather Event, and Cyclone Gabrielle. In the three months to 31 December...
Posted: Feb 28, 2023
Bermuda-based Argo Group International Holdings, Ltd. has reported a net loss of $111.8m for the fourth quarter of 2022, compared with a loss of $117.8m a year earlier. The company’s gross written premiums (GWP) narrowed to $644.5m, with an underw...
Posted: Feb 28, 2023
Global insurance broker Acrisure has launched a new subsidiary covering the German, Austrian, and Swiss markets, which will be led by Mathias Pahl, who joins from WTW. Pahl will serve as President of the new subsidiary, Acrisure Deutschland GmbH a...
Posted: Feb 28, 2023
Sharing its view on the property insurance market outlook for 2023, insurance broker AmWins said it expects the hard market to continue this year, which, in the long term, should provide a more stable insurance environment. Additionally, themes li...
Posted: Feb 28, 2023