Reinsurance News
Markel International, a subsidiary of Markel Corporation, has announced the appointment of Laura Devoir to the role of underwriter and senior credit analyst for its trade credit team. Based in London, Devoir will report to Adrian Jones, senior und...
Posted: Feb 10, 2023
Sedgwick, a global provider of technology-enabled risk, benefits and integrated business solutions, enters the Finnish insurance market with new office headed by Noora Valla. According to the announcement, the expansion comes in the wake of signif...
Posted: Feb 10, 2023
New Zealand-based insurance company Tower Limited anticipates the flooding that affected Auckland and parts of the upper North Island will trigger its reinsurance cover for catastrophe events. Tower CFO Paul Johnston says that the firm’s rob...
Posted: Feb 10, 2023
QBE has announced the establishment of a Client Proposition team and with immediate effect, the appointment of Matt Lacy in the newly create role of Director of Client Proposition. Lacy has over 20 years industry experience. He has been with QBE s...
Posted: Feb 10, 2023
In an interview with Reinsurance News, Kyle Bryant, Chief Underwriting Officer at cyber risk solutions firm, Resilience, suggested that 2022’s reprieve from ransomware attacks is only temporary. The first question we posed to Bryant was what...
Posted: Feb 09, 2023
MAPFRE RE has reported that premiums, which include the reinsurance and large risks business, grew 15.1% in 2022 to €7.22 billion, with attributable earnings of €143 million. The firm states that these numbers occurred despite the increase in medi...
Posted: Feb 09, 2023
According to Fitch Ratings, reinsurers are expected to absorb the majority of the recent Turkey / Syria earthquake losses, although the amount will be insignificant given how low insurance penetration is in the regions. On February 6, 2023, two po...
Posted: Feb 09, 2023
Insurance and reinsurance marketplace Lloyd’s has announced the appointment of Andrew Brooks as the new Deputy Chair of the Council of Lloyd’s. Brooks was most recently Chief Executive Officer of Ascot Underwriting, a position which held for a dec...
Posted: Feb 09, 2023
Brookfield Reinsurance has recorded a $492 million net income in its full-year results, compared to a net loss of $44 million from 2021. The firm also posted $388 million of Distributable Operating Earnings (DOE) for the year, a major increase com...
Posted: Feb 09, 2023
Digital insurance risk transfer and investment platform Vesttoo has announced the hiring of capital markets executive Thomas Rose as its new Head of Capital Markets, North America. Rose holds more than two decades of experience, having previously...
Posted: Feb 09, 2023
Re/insurance broker Gallagher has announced the appointment of Corey Tidey as Head of Natural Resources for the Middle East and Africa (MEA). Tidey joins Gallagher from Lockton Australia, having previously held roles with the Victorian Managed Ins...
Posted: Feb 09, 2023
Insurance broker Lockton has appointed Michael James as Head of Facilities & Binders within its London Property & Casualty (P&C) Specialties division, effective immediately. Reporting to Adam Watson, Head of North American Property, Ja...
Posted: Feb 09, 2023
AXA XL has published its new three-year sustainability strategy, “Roots of resilience” setting itself 23 targets to be met by 2026 or earlier. The strategy is built on three main themes: valuing nature, addressing climate change and integrating ES...
Posted: Feb 09, 2023
Global brokerage firm WTW has reported 5% organic revenue growth for the fourth quarter of 2022 to $2.72 billion, although net income for the period fell by 75%, year-on-year, to $593 million. For the full year 2022, WTW achieved 4% organic revenu...
Posted: Feb 09, 2023
A relatively high portion of losses caused by the earthquake that shook Turkey on February 6 are expected to be covered by insurance, according to Aon. This is given penetration rates resulting from compulsory earthquake insurance – offered...
Posted: Feb 09, 2023
Zurich Insurance Group has posted a 12% increase in business operating profit for 2022, including a 14% increase in operating profits for its property and casualty (P&C) segment on a combined ratio of 94.3%. Overall operating profit came to $6...
Posted: Feb 09, 2023
Germany’s Talanx Group, the parent company of Hannover Re, has exceeded its full-year 2022 target for group net income with a rise of 16% to €1.17 billion. Gross written premium income also rose by a double-digit 17% to €53.4 billion. Meanwhile, t...
Posted: Feb 09, 2023
Mike Mitchell, Head of Property & Specialty UW at reinsurance giant Swiss Re, has announced that he will be leaving the firm towards the end of the year. In a statement, Mitchell said that he has agreed with Swiss Re to help complete the July...
Posted: Feb 09, 2023
Analysts at Gallagher Re have warned that new COVID-19-related losses emanating from the Asia-Pacific region may put a strain on first-tier accident and health (A&H) reinsurers through 2023. The broker expects that the majority of these losses...
Posted: Feb 09, 2023
Bermuda-based reinsurer Everest Re Group has reported a 4.1 percentage point improvement in its combined ratio in the fourth quarter of 2022 to 87.8%, as net income and operating income increased to $496 million and $478 million, respectively. The...
Posted: Feb 09, 2023
Tractable, an industry-leading applied AI firm is teaming with leading global data analytics provider, Verisk, to offer AI-powered estimates for property damage. By integrating with Tractable, which uses computer vision technology to visually asse...
Posted: Feb 09, 2023
Greenlight Capital Re, Ltd., through its Greenlight Re Innovations, has announced an investment in Vertical Insure, Inc., a Minneapolis-based embedded insurance platform. The firm addresses distribution inefficiencies by embedding insurance in ver...
Posted: Feb 09, 2023
Consulting and actuarial firm Milliman has announced the appointment of Richard Payne as Director & Consulting Actuary for its Life practice in Asia. For the new role, Payne will be based in Hong Kong. The appointment is set to take effect on...
Posted: Feb 09, 2023
High inflation and low growth are expected to mark the global economy in 2023. However, it will cope better than initially expected with the consequences of the war in Ukraine, sharp price increases and higher interest rates, according to Munich R...
Posted: Feb 08, 2023
Steve Johnston, Chairman and CEO of Cincinnati Financial Corporation, has disclosed that the firm increased its cat event retention to $200m at the January reinsurance renewals. The news comes from the firm’s Q4 earnings call, where Johnston...
Posted: Feb 08, 2023