Reinsurance News
Venture capital provider BP Marsh has reported Net Asset Value (NAV) of £179.8 million for the group’s financial year ended 31 January 2023, compared to £166.6 million from the same period last year. In a statement, BP singled out a number o...
Posted: Feb 14, 2023
Specialist re/insurance broker Miller has announced the appointment of Gary Stockley as an Account Executive in its Bermuda office. Stockley has over three and a half decades of experience in the insurance market, primarily as a retail insurance b...
Posted: Feb 14, 2023
BMS Iberia has announced that it has signed a deal to acquire Spanish specialty re/insurance broker, Seguros Viafina. The agreement is set to be completed this month, with BMS acquiring Viafina in full. The deal is subject to regulatory approval b...
Posted: Feb 14, 2023
SCOR has announced an expansion of its partnership with Concirrus, which will see the insurtech replace SCOR’s existing data model, enabling the French re/insurer to more accurately price future risks within its marine line of business. The...
Posted: Feb 14, 2023
AM Best anticipates that Protection and Indemnity (P&I) clubs will see improved underwriting results in 2023, though the challenging investment environment will likely offset any profits. Best explains that the P&I segment is dominated by...
Posted: Feb 14, 2023
Global brokerage firm WTW has announced the appointment of Deesha Doshi as an Executive Director of its Credit & Political Risk practice in Singapore. Doshi holds almost two decades of banking experience, having served at firms such as Westpac...
Posted: Feb 14, 2023
Selva Eren, CEO of Türk Reasürans AŞ, which carries out the technical operations of the Turkish Catastrophe Insurance Pool (TCIP), has disclosed that claims payments were made within 24 hours of the devastating earthquake that recently struck the...
Posted: Feb 14, 2023
Sompo International has published its third-quarter of the 2022 financial year results reporting an underwriting income of $256m, a lower figure compared to the same period last year, which was $275m. The firm’s 3Q results felt the impact of Hurri...
Posted: Feb 14, 2023
The devastating M7+ earthquakes that occurred in Turkey on February 6th, 2023, are expected to drive economic losses of more than $20 billion, of which insurers and reinsurers will cover more than $1 billion, according to Verisk’s Extreme Ev...
Posted: Feb 14, 2023
Tokio Marine’s international business has reported profit of JPY187.3 billion for the third quarter of the 2022 fiscal year, representing a slight increase in profit from last year’s JPY186.6 billion. While profit was strong across most of its int...
Posted: Feb 14, 2023
Following the news of CCR RE potential acquisition by a consortium of French mutuals, S&P Global Ratings has placed its ‘A-‘ issuer credit and financial strength ratings on CCR RE, and its issue ratings on the reinsurer’s deb...
Posted: Feb 14, 2023
The impact of investment losses, Hurricane Ian, and the ongoing war in Ukraine has seen MS Amlin post a net loss of £305 million for the period January to end of September 2022, as the firm’s combined ratio weakened to 111.9%. In its financi...
Posted: Feb 14, 2023
Bermuda-based Arch Capital Group has reported net income available to its common shareholders of $849.5 million in Q4 of 2022, a 29.5% annualised net income return on average common equity, compared to $613.1 million for the same quarter of 2021....
Posted: Feb 14, 2023
Global insurer and reinsurer AIG and Stone Point Capital, a re/insurance focused private equity firm, have entered into an agreement to establish an independent Managing General Agency (MGA) to serve the high net worth and ultra-high net work mark...
Posted: Feb 14, 2023
A new report from Coineect has highlighted how ransomware attacks are creating repercussions for the insurance sector, as companies are being forced to deal with several issues related to the assessment of their customers’ cyber risks and th...
Posted: Feb 14, 2023
A new report from Coinnect has highlighted how ransomware attacks are creating repercussions for the insurance sector, as companies are being forced to deal with several issues related to the assessment of their customers’ cyber risks and th...
Posted: Feb 14, 2023
Ryan Specialty, a service provider of specialty products and solutions for insurance, brokers, agents and carriers, has announced the formation of its global transactional risk practice – Ryan Transactional Risk. The firm is creating this global m...
Posted: Feb 14, 2023
Canopius Group, a global specialty reinsurer, has announced the expansion of Management and Professional lines business in Bermuda with two new appointments. With almost 25 years of industry experience, Mike Butler joins Canopius as Head of Manage...
Posted: Feb 14, 2023
The Asia-Pacific (APAC) region continues to present insures with diversification and growth opportunities, states George Attard, CEO, Reinsurance Solutions, Asia Pacific, Aon. Attard explains that the 1/1 renewal marks a “turning point” for the gl...
Posted: Feb 13, 2023
Ardonagh Specialty has announced that it has brought facultative reinsurance capabilities together in Inver Re. The facultative team from Besso Re – which Ardonagh acquired in 2021 through its takeover of BGC’s insurance operations – will be...
Posted: Feb 13, 2023
Ageas Group’s reinsurance brand, Ageas Re, has named Vincent Rensonnet Lead Underwriter for Latin America and Iberia within its property underwriting team, headed by Jeremy Walker. As a non-life treaty underwriter, Rensonnet brings to the fi...
Posted: Feb 13, 2023
Credit ratings of Argo Group International Holdings, Ltd. and its subsidiaries have been placed under review with developing implications by AM Best, according to a recent statement by the credit rating agency. These ratings include the firm’s Lon...
Posted: Feb 13, 2023
Climate change is creating risk on an unprecedented scale, but insurers can play a role to significantly reduce the degree of their impact by helping to build resilience, according to an Allianz report. As extreme weather events cannot be prevente...
Posted: Feb 13, 2023
Gian Sandosh Semadeni is joining Gallagher Re’s Public Sector & Climate Resilience Solutions global practice as Parametric Solutions Lead. He will be working alongside Antoine Bavandi, who was appointed in 2022 to lead the new practice, and Do...
Posted: Feb 13, 2023
Analysts at Goldman Sachs have warned that hardening reinsurance market conditions are causing more volatility in the primary market, as carriers are forced to retain more risk on their balance sheets. At the same time, however, analysts observed...
Posted: Feb 13, 2023