Reinsurance News
M&A tech and InsurTech firm, io.insure, the world’s first online M&A insurance marketplace for SME transactions, has announced its launch in the UK with the appointment of George Apperly as managing partner. Apperly, who is based in London...
Posted: Feb 17, 2023
Trends at Europe’s largest insurers illustrate an upward movement in commercial pricing which is set to continue, albeit at a slower pace, suggests a report from Bloomberg Intelligence. The report states that European P&C insurers’ results wil...
Posted: Feb 17, 2023
Legacy solutions provider, RiverStone International, has secured an innovative $305 million reinsurance layer to support the underwriting of a series of new Lloyd’s transactions effective January 1st, 2023. Such transactions include the rece...
Posted: Feb 17, 2023
Enstar Group has announced that its wholly-owned subsidiaries have reached an agreement for a ground-up Loss Portfolio Transfer (LPT) with certain subsidiaries of QBE on a diversified portfolio of business. Enstar states that this business covers...
Posted: Feb 17, 2023
P&C insurer Skyward Specialty has announced the launch of a new inland marine underwriting unit to be led by Havis Wright, who will be in charge of overseeing its growth and development. Skyward’s new solution will enhance AAIS-based coverages...
Posted: Feb 17, 2023
Global reinsurance giant Swiss Re has today announced net income of $472 million for the full year 2022 compared with $1.4 billion a year earlier, as the impact of economic inflation on expected claims impacted its P&C businesses, and large na...
Posted: Feb 17, 2023
The United Nation’s World Food Programme (WFP) has received $15.4m worth of insurance payouts from African Risk Capacity (ARC) Limited to help 490,000 people in West Africa impacted by drought in 2022. The ARC was established in 2021, it is a prov...
Posted: Feb 17, 2023
US life insurer, Pacific Life has announced the promotion of Joe Krum to senior vice president, where he will lead the firm’s global institutional investment group. Krum joined Pacific Life in 2001 and has served in various roles, including vice p...
Posted: Feb 17, 2023
CloudCover Re, a subsidiary of AI-generative cybersecurity threat prevention platform CloudCover, has announced the launch of a new cyber security captive insurance offering in partnership with Hylant Global Captive Solutions. Described as the wor...
Posted: Feb 17, 2023
The Adrienne Arsht-Rockefeller Foundation Residence Center (Arsht-Rock) has announced the launch of the Extreme Heat Income Insurance, a new parametric insurance to help women in India recover wages lost due to climate-driven extreme heat events....
Posted: Feb 17, 2023
Parametrix has announced it is working to bring Insurance-Linked Securities transactions to market which would protect ceding re/insurers against a sustained outage of “the cloud” to which many are exposed through their cyber portfolios. The leadi...
Posted: Feb 16, 2023
Stewart Specialty Risk Underwriting (SSRU) a specialty insurance managing general agent (MGA) based in Toronto, Canada, has announced that it has been able to renew its property & casualty (P&C) facilities with improved terms, during what...
Posted: Feb 16, 2023
Truist has announced that it has agreed to sell a 20% stake in Truist Insurance Holdings, Inc., a subsidiary of Truist and the sixth-largest insurance brokerage in the US, to funds managed by Stone Point Capital, a private equity firm focused on t...
Posted: Feb 16, 2023
The Allstate Corporation has announced estimated pre-tax catastrophe losses of $307 million ($243 million after-tax) for the month of January 2023. The U.S. primary insurer stated that catastrophe losses for the month of January were estimated at...
Posted: Feb 16, 2023
AIG Chairman and Chief Executive Officer (CEO) Peter Zaffino has disclosed details of his company’s experience at the recent January reinsurance renewal period, which he says proved “exceptionally successful” given challenging market conditions. S...
Posted: Feb 16, 2023
Jennifer Baron has joined UFG Insurance, a P&C insurer based in the US, as Reinsurance Underwriter, to work with brokers and cedents – both new and existing accounts – across the country. Baron, who has 19 years of industry experie...
Posted: Feb 16, 2023
With the property market already “tightening” prior to the landfall of hurricane Ian, the high estimated loss numbers suffered due to the hurricane have largely proven valid, and its impact on the reinsurance market has been “immediate and substan...
Posted: Feb 16, 2023
International specialty re/insurance MGA, Rokstone has appointed Jimmy Heaton as Head of Directors and Officers (D&O). Heaton will lead Rokstone’s D&O team when he joins the firm after serving his notice at Nexus Underwriting, where he was...
Posted: Feb 16, 2023
Property and casualty insurer, The Hartford has appointed Jack Bardrick as Head of Distribution for Global Specialty International. As Head of Distribution, Bardrick will be responsible for distribution across Hartford’s Lloyd’s Syndic...
Posted: Feb 16, 2023
Total property insurance and reinsurance industry losses from the dual Kahramanmaras, Turkey earthquakes are estimated at $2.4 billion, with economic losses pegged at close to $20 billion, according to Karen Clark & Company (KCC). These estima...
Posted: Feb 16, 2023
Analysts at PwC have forecast that mergers and acquisitions (M&A) in the re/insurance sector could be set to slow in response to inflationary and interest rate challenges, but have added that this could also create the conditions for deals at...
Posted: Feb 16, 2023
General insurance company, RSA Insurance has announced the appointment of Henry Westwood as Senior Specialist Underwriter in its UK Specialty Lines cyber business. Westwood is to start his new role on May 15; he will be responsible for leading the...
Posted: Feb 16, 2023
British Managing General Agent, Pen Underwriting has announced the appointment of two new business development managers who will be dedicated to working with brokers across the Midlands. Helen Barnes has joined Pen as a Business Development Manage...
Posted: Feb 16, 2023
PartnerRe, Euclid Program Managers and Euclid Security have announced a carrier partnership for a Security Industry Liability Insurance Program. Moving forward, Euclid Security, a program administrator offering specialised liability coverages for...
Posted: Feb 16, 2023
California-headquartered specialty insurer Palomar Holdings has reported that 2022 full year gross written premiums increased by 64.8% to $881.9m compared to $535.2m in 2021. Palomar’s net income for the full year was $52.2m compared to $45....
Posted: Feb 16, 2023