Reinsurance News
Reinsurance pricing and placing platform provider Tremor Technologies has reported a strong correlation between the likelihood of a successful allocation and the number of points in a reinsurer’s supply curve. Reinsurers who provide richer supply...
Posted: Jan 24, 2023
Primary insurance group The Travelers Companies Inc. has reported a 39% year-on-year decrease in net income to $819 million for the fourth quarter of 2022, compared to $1.33 billion from the same period last year. Notably, net income for the full...
Posted: Jan 24, 2023
Property and casualty insurance holding company Selective Insurance Group has announced its preliminary results for the fourth quarter of 2022, which include a combined ratio of 94.7% and double-digit premium growth. This was despite the company b...
Posted: Jan 24, 2023
Despite heightened catastrophe losses and economic uncertainty, Fitch Ratings expects improved underwriting performances for Bermuda re/insurers in 2023, driven mainly by accelerating premium rates, alongside a market reset in pricing, terms and c...
Posted: Jan 24, 2023
The UK’s Prudential Regulation Authority (PRA) has released the results of its 2022 insurance industry stress tests, which conclude that general and life insurers have a “material dependency” on reinsurance, which is likely to remain h...
Posted: Jan 24, 2023
Insurance and reinsurance broker, Aon has appointed Michael McKnight to the role of Managing Director, Structured Reinsurance. As an insurance executive with over three decades of industry experience, McKnight specialises in the areas of actuarial...
Posted: Jan 24, 2023
AXA XL Risk Consulting has expanded its team in the Americas with six additions in the US and Canada, naming Grace Torres-Valtierra the team’s South Central Regional Engineering Leader in Dallas, Texas. Torres-Valtierra joins AXA XL from FM...
Posted: Jan 24, 2023
US broker firm Brown & Brown has reported revenues of $901.4 million for the fourth quarter of 2022, representing an increase of $162.9 million, or 22.1%, when compared to the same period last year. Notably, organic revenue totalled $764.7 mil...
Posted: Jan 24, 2023
Moody’s Investors Service has published updated methodologies for rating life insurers, property and casualty insurers, reinsurers and trade credit insurers, replacing the versions published last year. According to Moody’s adjusted rat...
Posted: Jan 24, 2023
Relative to other insurance markets, the casualty market remains generally stable following the January renewals period, according to a recent report by re/insurance broker Aon. This is despite renewals being complicated by the demand-supply misma...
Posted: Jan 24, 2023
AM Best has affirmed the credit Ratings of Vantage Risk Ltd. and Affiliates (Vantage Group) and has assigned them a positive outlook. The Group’s Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Rating of “a-” (Excellent) re...
Posted: Jan 24, 2023
Legal & General Assurance Society Limited has agreed a £430 million buy-in with the Tioxide Pensions Fund. The transaction, which was agreed in November, secures the benefits of around 2,700 retirees and deferred members. The sponsoring compan...
Posted: Jan 24, 2023
Keystone Agency Partners (KAP), an independent insurance agency partnership platform, has announced it has received a significant preferred equity investment from Flexpoint Ford Asset Opportunity Fund II. KAP was launched in 2020 with support from...
Posted: Jan 24, 2023
EPIC Insurance Brokers and Consultants (EPIC), a retail property and casualty insurance brokerage and employee benefits consultant, has appointed Peter Schmitz as Senior Executive, Aviation Practice. Schmitz joins EPIC at a time when inflationary...
Posted: Jan 24, 2023
Digital life insurance company Dayforward, has announced it has raised new capital and the acquisition of Commercial Travelers Life Insurance Company (CTLIC), an insurance carrier founded in 1883. The insurer has raised a $25m round of funding led...
Posted: Jan 24, 2023
Radian Group Inc. has announced a series of capital actions that were completed as of year-end 2022, which it says will enhance its financial flexibility. Firstly, in December 2022, Radian Reinsurance Inc., a wholly owned insurance subsidiary of R...
Posted: Jan 24, 2023
Analysts at Alliant have predicted that new insurer entrants will be “almost non-existent” for 2023 as the property market grapples with the changes to reinsurance pricing and terms. In an end of year report, Alliant noted that insurance to value...
Posted: Jan 23, 2023
FutureProof, a climate-focused MGA, has appointed Dr. Ram Keralapura as its new Chief Technology Officer. Dr. Keralapura brings nearly two decades of engineering, data science and leadership experience towards the role. Additionally, he also bring...
Posted: Jan 23, 2023
Global reinsurance broker Gallagher Re has appointed Shireen Gammoh as Global Head of Capital Advisory & Modelling. Based in London, Gammoh joined Gallagher Re in 2021. In her most recent role at the firm, she served as Head of Strategic &...
Posted: Jan 23, 2023
A special session of lawmakers in Louisiana has been called to address property insurance concerns in the state, partly stemming from the affordability of reinsurance cover. The session would follow those held in Florida last year, which saw legis...
Posted: Jan 23, 2023
Trium Cyber, a Lloyd’s of London cyber insurance specialist, has hired David Rock as Chief Claims Officer of its US based services company. Both Rock and the Trium management team are based in the US, where they are focused on servicing the...
Posted: Jan 23, 2023
Mike Mitchell, Head P&S Underwriting Reinsurance at Swiss Re, has assured that some of the stresses of the January reinsurance renewal should “disappear” during the later renewal periods this year, even as efforts to rebalance market dynamics...
Posted: Jan 23, 2023
Chubb has announced the appointment of Hng Keng Yoong as Country President for its general insurance operations in Singapore. Yoong holds two decades of experience in both life and general insurance across Asia and the United Kingdom. Since joinin...
Posted: Jan 23, 2023
Reinsurers RenaissanceRe, SCOR, Hannover Re and Swiss Re have come together with broking firm Aon to lead the implementation of the Open Exposure Data (OED) Standard curated by Oasis for the risk modelling of property reinsurance placements. The O...
Posted: Jan 23, 2023
Berkshire Hathaway Specialty Insurance (BHSI) has announced the appointment of Nick Major to the role of Country Manager, UK. He joins the BHSI London office with nearly three decades of experience in the UK insurance market. Most recently, Major...
Posted: Jan 23, 2023