Reinsurance News
Global re/insurer AIG has achieved record underwriting profitability within its General Insurance (GI) division for the full year 2022 to $2 billion, which alongside net realized gains on Fortitude Re funds withheld embedded derivative, contribute...
Posted: Feb 16, 2023
Despite anticipating that catastrophe bond issuance volume may be muted in the short term due to the quick rise in interest rates, DBRS Morningstar expects that activity will pick up in the second half of 2023 and beyond as the rate environment st...
Posted: Feb 16, 2023
Specialty re/insurance group Chaucer has unveiled an update to its ESG sustainability strategy, outlining how it will decarbonise its business and embed ESG into the underwriting decision-making process. Chaucer states that its ESG strategy will b...
Posted: Feb 16, 2023
Insurance brokerage firm Brown & Brown, Inc. has announced the addition of Jaymin B. Patel, executive chairman of Perennial Climate Inc., to its board of directors. A chartered accountant, Patel has held his role at Perennial Climate – a...
Posted: Feb 16, 2023
In an Interview with Reinsurance News, Kyle Bryant, Chief Underwriting Officer at cyber risk solutions firm, Resilience, discussed the implications of a lack of reinsurance appetite for cyber risk, alongside how the firm is handling the current ch...
Posted: Feb 15, 2023
Talanx strengthens its business in the core market of Poland with ten-year cooperation between Europa Group, a subsidiary of HDI International AG, and Bank Millennium through bancassurance agreement. According to the announcement, as part of the t...
Posted: Feb 15, 2023
Caribbean Risk Group LLC. (CRG), a US Virgin Islands-based insurance agency, has launched its London operations, CRG International Limited. The firm has confirmed that the brokerage in London will act as an appointed representative of Lloyd’s brok...
Posted: Feb 15, 2023
Global brokerage firm WTW has announced the appointment of Wendy Crosley as the Global Director of Underwriting Transformation and Automation, within the company’s Insurance Consulting and Technology (ICT) business. In the new role, Crosley is tas...
Posted: Feb 15, 2023
Axis Capital, a global specialty underwriter and provider of re/insurance solutions, announced its latest steps to reduce greenhouse gases (GHG) in its ambition to transition to a low-carbon economy. The company stated it is committing to a 50% ab...
Posted: Feb 15, 2023
According to analysts at AM Best, one key question that currently surrounds the US directors & officers (D&O) insurance segment is whether carriers can sustain their recent, more favorable results given less aggressive pricing amid high so...
Posted: Feb 15, 2023
Indigo Specialty Underwriters, a registered series of Mission Underwriting Managers, LLC, an Arizona-based insurance agency, has announced a new partnership with Obsidian – an AM Best rated “A-” (Excellent) hybrid fronting program carrier. In a st...
Posted: Feb 15, 2023
Global specialty re/insurer Brit Ltd. has announced the renewal and planned expansion of its leading cyber consortium – Brit Cyber Attack Plus (BCAP). BCAP is a cyber product, designed to protect clients from the impact of physical damage ar...
Posted: Feb 15, 2023
Langhorne Re, the global reinsurer targeting large in-force life and annuity blocks launched in 2018 by Reinsurance Group of America (RGA) and RenaissanceRe (RenRe), is being wound down as it failed to complete any deals and its capital commitment...
Posted: Feb 15, 2023
Specialist insurance provider CFC has announced that it is introducing policy encryption for its cyber insurance policies, with the firm noting that it is the first provider in the industry to do so. CFC suggests that providing this additional lay...
Posted: Feb 15, 2023
Argo Group International Holdings, Ltd., has announced that J. Daniel Plants, a member of the Argo Board of Directors, and Chairman of its Strategic Review Committee, has notified the company of his intention to step down from the Board, effective...
Posted: Feb 15, 2023
The Texas Windstorm Insurance Association (TWIA) has commenced discussions with its reinsurance partners as it looks to secure up to $2.92 billion in coverage for the upcoming storm season, across traditional reinsurance and catastrophe bonds. Dur...
Posted: Feb 15, 2023
The Australian Reinsurance Pool Corporation’s cyclone cover has been triggered by Tropical Cyclone Gabrielle, which recently struck New Zealand in what the country’s prime minister described as “the biggest weather event to hit t...
Posted: Feb 15, 2023
Lloyd’s broker Ramon International has appointed Lee Ellis to the role of Chief Strategy Officer, effective immediately. Ellis, who also serves as a board member of Ramon International, will also assume board roles across the international operati...
Posted: Feb 15, 2023
Legacy acquirer and reinsurer RiverStone International has completed a reinsurance-to-close (RITC) and a loss portfolio transfer (LPT) with MS Amlin Underwriting Limited, with net technical provisions of £1.2 billion. Under the agreement, RiverSto...
Posted: Feb 15, 2023
Insurance and reinsurance broker Aon, has appointed Eduardo Dávila as President of Aon Spain. Dávila takes on this role while also still holding his current responsibilities as Chief Executive Officer (CEO) in Aon EMEA, and also serving as a membe...
Posted: Feb 15, 2023
Ping An Property & Casualty Insurance has launched its very first ocean carbon sink index insurance policy in the city of Dalian. This launch follows the firms pilot of its forest carbon sink remote sensing index insurance in 2021. Ping An P&#...
Posted: Feb 15, 2023
Global brokerage WTW has appointed Michelle Radcliffe as Director in the Exposure Management and Climate Analytics Team, within the firms Insurance Consulting and Technology (ICT) business. Within the role, she will heavily focus on climate transi...
Posted: Feb 15, 2023
Despite wider reinsurance market headwinds, casualty remains an attractive market for reinsurers, especially as they look for opportunities to diversify away from property catastrophe, says Nigel Light, Global Casualty Leader, Aon Reinsurance Solu...
Posted: Feb 14, 2023
Corebridge Financial, the recently rebranded Life & Retirement business of AIG, has appointed Lisa Longino as Chief Investment Officer, effective immediately. Within the role, Longino will report to Kevin Hogan, Chief Executive Officer, Corebr...
Posted: Feb 14, 2023
Venture capital provider B.P. Marsh has reported Net Asset Value (NAV) of £179.8 million for 31 July 2022, compared to £166.6 million at 31 January 2022. In a statement, B.P. Marsh singled out a number of its investment companies, saying that Kent...
Posted: Feb 14, 2023