Reinsurance News
Argenta Syndicate Management Limited (ASML), a subsidiary of Argenta Holdings Limited, has announced the appointment of Jonny Groves to the role of Head of Cyber, effective immediately. In his new role, based in London, Groves will be responsible...
Posted: Feb 23, 2023
Global insurer AXA has reported a 4% increase in underlying earnings for 2022, which finished the year at €7.3 billion and were boosted by growth in the company’s Property and Casualty (P&C) segment despite significant reductions in natural ca...
Posted: Feb 23, 2023
Bermuda-based insurer R&Q Insurance Holdings has reached an agreement to sell its 40% stake in the New York-based MGA Tradesman to Roosevelt Road Capital Partners, the controlling 60% shareholder of Tradesman, which is majority owned by Daniel...
Posted: Feb 23, 2023
German reinsurer Munich Re has exceeded its profit guidance for 2022 with a result of €3.4 billion, as the reinsurance division performed well despite the impacts of large losses and the war in Ukraine. Group-wide, profit increased from more than...
Posted: Feb 23, 2023
Intercontinental Exchange, Inc. (ICE), a global provider of data, technology and market infrastructure, has announced an agreement with Dun & Bradstreet, a global provider of business decisioning data and analytics, to leverage its global supp...
Posted: Feb 23, 2023
Aioi Nissay Dowa Insurance Europe (AND-E) and its parent, the global insurance brand Aioi Nissay Dowa Insurance (ANDI), have made a significant investment in AI company Mind Foundry, to launch a new joint venture research lab in Oxford. The Aioi R...
Posted: Feb 23, 2023
Eurohold Bulgaria’s subsidiary, Euroins Romania, has signed a quota share reinsurance agreement with EIG Re, the reinsurance arm of Euroins Insurance Group (EIG), as stated in a recent SeeNews report. According to SeeNews, Eurohold Bulgaria...
Posted: Feb 23, 2023
Insurance broker Howden has teamed up with the UN Capital Development Fund (UNCDF) to help fight climate change within the Pacific. A press release notes that the international insurance intermediary has partnered with UNCDF’s Pacific Insurance an...
Posted: Feb 23, 2023
GCube, an underwriter for renewable energy projects and member of the Tokio Marine Group, has officially launched in Australia, offering a range of products to meet the risks faced by local renewables developers. GCube products will now be underwr...
Posted: Feb 23, 2023
With geopolitical risks becoming much higher profile on the risk radar, demand for a collaborative response from risk and internal audit professionals is higher, an Airmic report has contended. Post pandemic, explains Airmic’s CEO Julia Graham, th...
Posted: Feb 22, 2023
Data from the U.S. Federal Emergency Management Agency (FEMA) on the National Flood Insurance Program’s (NFIP) traditional reinsurance placement for 2023 reveals a 36% decline in the number of participants on the programme when compared with...
Posted: Feb 22, 2023
AXA XL has announced two key leadership hires, with Winston Zhuo named as Head of Property and Construction, China and Carlson Grote as Head of Broker & Distribution Performance Management for its APAC & Europe Business Unit. Based in Shan...
Posted: Feb 22, 2023
Corinthian Re, a specialty collateralised reinsurance company, has become the latest partner of Alfa Romeo F1 Team Stake as it prepares for a “record-breaking” 2023 Formula One season. According to the announcement, the partnership wil...
Posted: Feb 22, 2023
S&P Global Ratings has upgraded its issuer credit rating on Willis Towers Watson PLC (WTW) to ‘BBB+’ from ‘BBB’ and gave it a stable outlook. At the same time the credit rating agency upgraded its issue-level ratings on...
Posted: Feb 22, 2023
Steadfast Group, the parent company to a range of broking and underwriting operations, including broker Steadfast Re, has reported an underlying revenue of AUS $662.8 million in 1H23, representing growth of more than 27%. The firm’s statutory net...
Posted: Feb 22, 2023
Florida’s residential property insurance marketplace has been “redefined” following an “impressive” series of meaningful legislative reforms, suggests rating agency Demotech. Demotech states that under the leadership...
Posted: Feb 22, 2023
Solar risk management provider kWh Analytics has announced that it will provide insurance support for a solar investment deal between Arava Power, Paz Oil and Menora via a solar revenue put. The insurance arrangement will seek to optimize debt ter...
Posted: Feb 22, 2023
Enstar Group has announced that one of its wholly-owned subsidiaries has signed a Loss Portfolio Transfer (LPT) agreement with RACQ Insurance to reinsure 80% of RACQ’s motor vehicle Compulsory Third Party (CTP) insurance liabilities covering accid...
Posted: Feb 22, 2023
Brussels-headquartered multinational insurer Ageas has posted a 20% increase in its net result for 2022, thanks to improved performance in its non-life Belgium business and its underlying results in Asia. Ageas posted a net result of €1,011 millio...
Posted: Feb 22, 2023
US-based P&C insurer, UFG Insurance has appointed Rick Tjarks as Reinsurance Underwriter to work with brokers and cedents across the US. A highly skilled veteran within the industry, Tjarks brings 33 years of reinsurance experience towards his...
Posted: Feb 22, 2023
Fidelis MGU has announced the appointments of Daniel O’Connell as Head of Bespoke, Armand van Hien as Head of Marine Cargo and Greg Bowman as Head of Capital. O’Connell, who joins Fidelis MGU’s underwriting team as Head of Bespoke, will be respons...
Posted: Feb 22, 2023
Africa Specialty Risks (ASR), a pan-African focused reinsurance group, has been approved as a coverholder at Lloyd’s, the specialist re/insurance market. This means that ASR will be able to work with Lloyd’s syndicates and manage delegated authori...
Posted: Feb 22, 2023
Aventum Group’s specialty re/insurance broking business, Consilium, has launched a dedicated Specialty Treaty Reinsurance division, which will be led by Paul Cousins and Matt Webb as Partners. This new treaty unit compliments the firm’...
Posted: Feb 22, 2023
Leading independent Lloyd’s broker, Tysers has announced the sale of its bloodstock broking team and the bloodstock managing agent, Galileo, to international insurance broker, Howden. “We had built an exceptional bloodstock business but, as our fo...
Posted: Feb 22, 2023
Casper Specialty UK Limited is set to launch as a new specialist managing general agent (MGA), focused on the casualty market and led by industry veteran, Bradley Knight. The firm will operate independently as a sister entity of leading specialist...
Posted: Feb 22, 2023