Reinsurance News
Technology-centric flood MGA, reThought Insurance has raised $10.5 million in a Series B funding round, which closely follows a successful $15.5 million round last summer. According to the announcement, the capital expansion will be used to extend...
Posted: Jan 30, 2023
Professional services giant, Grant Thornton Ireland has announced that Bermuda firm, Arthur Morris & Company Limited, will join its network in a move that will support the expansion of its services and industry focus to its clients. The announ...
Posted: Jan 30, 2023
As the re/insurance industry is feeling the emerging impacts of climate change, it also has the opportunity to help solve the climate crisis by matching capital to risk where it’s needed – such as via clean tech solutions, by de-risking proj...
Posted: Jan 30, 2023
S&P Global Ratings has lowered from ‘A+’ to ‘A’, its financial strength and long-term issuer credit ratings on Toa Reinsurance Co. and its two oversea subsidiaries, US-based Toa Reinsurance Co. of America and Switzerlan...
Posted: Jan 30, 2023
Betterview, an insurtech company that allows insurers to identify and manage real property risk, has announced it has completed a new round of funding of undisclosed amount. Backers included existing investors EMC Insurance, Guidewire Software, Na...
Posted: Jan 30, 2023
Tesla CEO Elon Musk has said that his company’s insurance offering has already made a significant impression on the market, with other large car insurers having been forced to offer better rates for Tesla vehicles. Speaking during a Tesla Q4 earni...
Posted: Jan 27, 2023
Global specialty re/insurance group, Chaucer has announced its partnership with Kita, a carbon credit insurance specialist, to insure the delivery risk of carbon sequestration projects. The group is not only investing in Kita, but will also be pro...
Posted: Jan 27, 2023
Direct Line Insurance Group has announced that Penny James has agreed with the Board to step down as Chief Executive Officer and Director with immediate effect. The firm states that the Board is initiating a process to appoint a successor, noting...
Posted: Jan 27, 2023
AXIS Capital CEO Albert Benchimol has reported that his company feels “encouraged” by the fact it lost less than $10 million of desired renewals following its exits from property and property catastrophe reinsurance business. “In the end, we succe...
Posted: Jan 27, 2023
Analysts at Berenberg have suggested that they aren’t convinced Direct Line’s recently announced quota share arrangement will fix all of its problems. Direct Line announced that it had executed the strategic reinsurance arrangement via...
Posted: Jan 27, 2023
Insurers could take a wide range of management action in response to the new macroeconomic environment that has caused the return of inflation, which in turn has created opportunities for the market, according to a recent report by The Geneva Asso...
Posted: Jan 27, 2023
IVANS, a division of Applied Systems, has reported an increase in the average premium renewal rate change across all major commercial lines of business year over year, in the fourth quarter of 2022. All lines experienced an increase except for Wor...
Posted: Jan 27, 2023
Freddie Mac has announced that its Single-Family and Multifamily Credit Risk Transfer (CRT) programs acquired credit protection of approximately $833m on more than $50 billion unpaid principal balance (UPB) of mortgage loans. The deal was brokered...
Posted: Jan 27, 2023
Floodbase, a climate adaptation technology company that provides flood risk analysis, has announced its rebranding and also launched a new feature that enables insurers to add flood protection to existing wind parametric policies. Formerly Cloud t...
Posted: Jan 27, 2023
BMS, an independent specialist re/insurance broker, has announced the appointment of Caroline Eyre as Managing Director of Construction, effective April 2023. She brings to the firm over two decades of experience in the insurance industry. Eyre jo...
Posted: Jan 27, 2023
Howden CAP, part of Howden Broking, and AXA XL have announced they will collaborate to develop structured credit Application Programming Interfaces (APIs). This development, a Howden spokesperson said, reflects Howden CAP and AXA XL’s commitment t...
Posted: Jan 27, 2023
Analysts at JP Morgan see the recent appointment of Thierry Léger as Chief Executive Officer (CEO) as a positive for SCOR in light of his strong track record of fixing issues, although the loss of his capabilities as Chief Underwriting Officer (CU...
Posted: Jan 27, 2023
Re/insurance holding company W.R Berkley Corporation has reported a net income of $382.2 million for the fourth quarter of 2022, a major increase compared to 2021’s $294.4 million. At the same time, the firm witnessed a record net income of $1.4 b...
Posted: Jan 27, 2023
Global insurance and reinsurance broker, Arthur J. Gallagher & Co., has reported adjusted net earnings of $367.9 million for the fourth quarter of 2022 within its brokerage operations, which alongside higher earnings in its risk management seg...
Posted: Jan 27, 2023
Analysts at JP Morgan have suggested that the Lloyd’s market is on the cusp of a “new golden era.” The analysts state that the Lloyd’s space will continue as a cyclical market, though in 2023, they anticipate the delivery of far strong...
Posted: Jan 27, 2023
AXA UK has announced that it has signed up to Flood Re’s Build Back Better scheme. Launched in April 2022, the Build Back Better scheme is a joint initiative between the UK insurance industry and the UK Government to promote the availability and a...
Posted: Jan 27, 2023
Specialist re/insurance broker Miller has announced the re-alignment of its business into two divisions, Miller UK and Miller International. The firm states that Miller International, which launched at the beginning of 2023, will oversee all activ...
Posted: Jan 27, 2023
Beazley, the specialist insurer, has announced the launch of a new private equity liability insurance product. The insurer stated that the tailored product is designed to focus on the inherent directors and officers (D&O) risks within the long...
Posted: Jan 27, 2023
Insurance broker Lockton has announced the opening of a new office in Stockholm, Sweden, as part of the firms expanding proposition to clients in the region. Lockton stated that the office is expected to be operational by the end of January, follo...
Posted: Jan 27, 2023
CoreLogic, a global provider of property information, analytics, and data-enabled solutions, has appointed Selma Hepp as Chief Economist. In July 2022, she was named interim chief economist. Prior to her interim role, Hepp served as an executive o...
Posted: Jan 27, 2023