Reinsurance News
InsurTech McKenzie Intelligence Services (MIS), has launched a U.S. market-first product aimed to accelerate incident and claims responses following hailstorm events. With the addition of hail to the Global Events Observer (GEO), insurers and loss...
Posted: Jan 27, 2023
Thierry Léger, who has served as the Group Chief Underwriting Officer (CUO) of global reinsurer Swiss Re since 2020, has been named as the new Chief Executive Officer (CEO) of French reinsurer SCOR, effective May 1st, 2023. Léger has been with Swi...
Posted: Jan 26, 2023
Global law firm Clyde & Co has hired re/insurance and claims settlement expert, Felipe Hoetz as a partner to lead its Chile insurance practice. Hoetz holds over two and half decades of experience and is the legal representative in Chile for th...
Posted: Jan 26, 2023
Earlier this week, Parametrix, the leading provider of cloud downtime insurance, monitored an outage of Microsoft Azure, the world’s second-ranked cloud service provider. Part of the ‘Big Three’, which includes Amazon Web Services and Google Clou...
Posted: Jan 26, 2023
Travelers Europe, a provider of property casualty insurance for auto, home and business, has appointed Peter McConnell as Chief Financial Officer (CFO), succeeding Mike Gent. In his new role, McConnell will report to Matthew Wilson, Chief Executiv...
Posted: Jan 26, 2023
AXA XL Insurance has announced the appointment of Marine Charbonnier as Head of Captives & Facultative Underwriting, for the Asia-Pacific region (APAC) and Europe. In her new role, Charbonnier will lead AXA XL’s captive business for the APAC &...
Posted: Jan 26, 2023
Insurance Europe, the European insurance and reinsurance federation, has responded to the European Supervisory Authorities’ call for evidence on ‘greenwashing’, saying that time and further regulatory clarification is needed to address this...
Posted: Jan 26, 2023
Analysts at RBC Capital Markets have suggested that a retrenchment in the alternative capital space has led to a further tightening of the retro market from 2022, causing a “ripple effect” on the available of capacity in the reinsurance property m...
Posted: Jan 26, 2023
Global specialty re/insurer SiriusPoint has appointed Maddie Morris as an Underwriter in its Energy & Marine Liability team. Morris holds almost a decade of experience in Marine & Energy Liability underwriting, joining SiriusPoint from Mun...
Posted: Jan 26, 2023
Insurance and reinsurance brokerage, Marsh McLennan, has today reported consolidated revenue of $5 billion for Q4 and $20.7 billion for the full-year 2022, supported by solid revenue growth at its reinsurance arm, Guy Carpenter. At $5 billion, con...
Posted: Jan 26, 2023
Advisory, distribution and underwriting firm, Parameter Climate has announced a profit in 2022, the businesses first full year following its initial launch by its veteran team in late 2021. The firm, headquartered in New York, witnessed strong per...
Posted: Jan 26, 2023
Advisory, distribution and underwriting firm, Parameter Climate has announced a profit in 2022, the businesses first full year following its initial launch by its veteran team in late 2021. The firm, headquartered in New York, witnessed strong per...
Posted: Jan 26, 2023
Acrisure Re, the reinsurance division of global insurance broker and fintech platform Acrisure, has announced that its facultative team is set to expand into the Polish market via a preferred partnership broker agreement with Smartt Re. Headquarte...
Posted: Jan 26, 2023
HSB, a specialist engineering and technology insurer and part of Munich Re, has announced the appointment of Niraj Shah as Chief Underwriting Officer (CUO) for the UK and Ireland. He will succeed outgoing CUO Stephen Morris who is set to retire in...
Posted: Jan 26, 2023
Specialty insurer RLI has reported underwriting income of $178.2 million for the full-year 2022 period, up 37% from $129.9 million in the previous year. This was largely due to a recovery in its property business, as underwriting income for this s...
Posted: Jan 26, 2023
UK motor and home insurance group Direct Line has announced that it has executed a strategic reinsurance arrangement, effective from January 1, 2023. The agreements were entered into via the company’s principal underwriter, UK Insurance Limited. T...
Posted: Jan 26, 2023
Zurich-based catastrophe insurance data provider PERILS has disclosed its second industry loss estimate for the Southeast Australia floods in October 2022, amounting to AUD 840m ($600m). This second estimate follows an initial loss estimate of AUD...
Posted: Jan 26, 2023
Zurich Resilience Solutions (ZRS), the commercial risk advisory and services unit of Zurich, and South Pole, a climate solutions provider and carbon project developer, have teamed up to support businesses with climate adaptation and mitigation. Ac...
Posted: Jan 26, 2023
A positive performance in the final three months of 2022 saw M&A deals outperform non-acquirers for a second consecutive quarter, according to research on completed deals from WTW’s Quarterly Deal Performance Monitor (QDPM). Based on share pri...
Posted: Jan 26, 2023
Bermuda-based re/insurer AXIS Capital has reported a lower net income of $41 million for the fourth quarter of 2022 and a decline to $193 million for the full-year, while the combined ratio hit 94.1% and 95.8% for the respective periods. For the f...
Posted: Jan 26, 2023
Cyber insurance provider Coalition has announced that its UK business is now trading as an approved Lloyd’s coverholder, following its launch into the country in September of last year. Coalition says that the authority from Lloyd’s to...
Posted: Jan 26, 2023
Cyber insurance provider, At-Bay, has completed the acquisition of At-Bay Specialty Insurance Company – a Delaware-domiciled E&S lines P&C insurer licensed in 44 states, from XL Insurance America, Inc. By making the move to a full-st...
Posted: Jan 26, 2023
Analysts at JP Morgan have reported that European re/insurer solvency ratios have remained resilient in the face of macro uncertainties over the last 2 years, highlighting a steady improvement over the period. The analysts write, “We believe...
Posted: Jan 26, 2023
The Florida Peninsula Insurance family of companies has closed on $70 million of senior credit facilities. Leading the transaction was Regions Bank, followed by Synovus who was the joint lead arranger, The facilities consisted of a $40 million ter...
Posted: Jan 26, 2023
DUAL North America, one of the largest independent underwriting organisations in the US, has launched a new Fine Art program that will provide coverage for museums, galleries and dealers, and private and corporate collectors in the country. The un...
Posted: Jan 26, 2023