Reinsurance News
Insurance affordability will be a growing challenge for a significant number of households, said the Actuaries Institute as it reveals a Climate Index at third highest index value ever in Spring 2022. According to the announcement, the Australian...
Posted: Jan 20, 2023
AI insurtech Concirrus, has announced the launch of its new Marine Hull Market Model, which it describes as its most sophisticated marine insurance risk model yet. According to the announcement, the Market Model uses the insights derived from Conc...
Posted: Jan 20, 2023
Marco Capital, a European P&C legacy solutions and insurance services group, has announced important changes to leadership in its businesses PCIS (Polo Commercial Insurance Services) and PMA (Polo Managing Agency). Paul Andrews joins Polo Work...
Posted: Jan 20, 2023
P&C insurance company The Hanover has reported estimated catastrophe losses of $190 million for the fourth quarter of 2022, of which $165 million, or 87%, were driven by Winter Storm Elliott. At this level, the pre-tax loss represented 13.9 po...
Posted: Jan 19, 2023
Reinsurance giant Munich Re has selected Verisk’s global risk analytics business, Verisk Maplecroft, to help it enhance human rights due diligence across the entire enterprise. By using Verisk Maplecroft’s world leading Human Rights Risk Indices,...
Posted: Jan 19, 2023
Canada’s 2022 catastrophic events have caused insured losses of over CAN $3 billion, a mark that hasn’t been reached since 2016 when a wildfire devastated Fort McMurray, AB, says Catastrophe Indices and Quantification Inc. (CatIQ). There was...
Posted: Jan 19, 2023
Generali Global Corporate & Commercial (GC&C) has announced the appointment of Christian Kanu as Chief Executive Officer, set to take effect from January 30, 2023. In the new role, Kanu will manage the implementation of the Generali Global...
Posted: Jan 19, 2023
Liberty Specialty Markets (LSM) has promoted Huw Owen to the role of Global Head of Financial Risk Solutions (FRS), effective immediately. Owen will be based in London where he will report to Rachel Conran, Chief Underwriting Officer. In the role,...
Posted: Jan 19, 2023
Only $1bn is expected to be insured from an estimated economic loss of over $30bn caused by fierce storms, torrential rain, high winds and flooding that the state of California has experienced since late December 2022, according to Argenta analyst...
Posted: Jan 19, 2023
Gillian Davidson, Global Insurance Law Connect’s (GILC) Chair and a Partner at Sparke Helmore, has suggested that the outlook for business interruption insurance as a class is more positive than it has been for some years, and could, at last...
Posted: Jan 19, 2023
Fintech leader, Acrisure has acquired Affinity Brokers Limited. The transaction is expected to close in the near term, pending FCA regulatory approvals. Founded in 2010 by Scott Meechan and Yvonne McKnight, Affinity is a commercial insurance broke...
Posted: Jan 19, 2023
Hannover Re, one of the world’s largest reinsurers, has, for the first time, transferred cyber risks to the capital markets via a proportional reinsurance solution, with New York-based Stone Ridge Asset Management supporting the transaction...
Posted: Jan 19, 2023
RSA Insurance has announced the additions of Sally Ng and Katie Hermans to it CIO leadership team as Specialty & Commercial Delivery Director and as Head of Technology Risk Management, respectively. Ng will be responsible for driving the techn...
Posted: Jan 19, 2023
The London and International Insurance Brokers’ Association (LIIBA) has detailed its new agenda for 2023, which centres around driving modernisation in the London insurance market. LIIBA said that brokers’ participation in the Future at Lloyd’s pr...
Posted: Jan 19, 2023
Munich Re, one of the world’s largest reinsurers, has partnered with FUGU, an Israeli startup, to insure its e-commerce fraud prevention solution. The solution detects fraud attempts, resulting in minimum exposure to future chargebacks. FUGU’s sel...
Posted: Jan 19, 2023
Inver Re, The Ardonagh Group’s reinsurance broker, has announced the appointment of Kurt Cripps as Global Head of Parametric. In the newly created role, Cripps will be responsible for leading parametric solutions, building a dedicated global param...
Posted: Jan 19, 2023
According to Joe Monaghan, Global Growth Leader Reinsurance Solutions, Aon, the January 2023 renewals were the most challenging in a generation as the reinsurance market underwent a fundamental shift in pricing and risk appetite, marking a moment...
Posted: Jan 19, 2023
US primary insurer Allstate has reported a preliminary net loss for the fourth quarter of 2022, as costs from Winter Storm Elliott contributed to an overall catastrophe loss of $779 million for the Q4 period, pre-tax. The company estimates its ove...
Posted: Jan 19, 2023
The insurance industry is to be affected by an expected slow global growth forecasted for 2023, an economic environment that will also bring new opportunities, according to MAPFRE Economics. MAPFRE’s research arm expects economic growth to slow to...
Posted: Jan 19, 2023
Insurance broker Marsh has appointed Robert Perry as UK Chief Executive Officer, Credit Specialties, Marsh Specialty. Perry takes on this new role in addition to his current role at Marsh as Global Political Risk & Structured Credit Leader. Ba...
Posted: Jan 19, 2023
Analysts at JP Morgan have released a report suggesting there is more to come from the turnaround at AXA XL, as it expects stronger-than-consensus underlying earnings in 2023 due to a studier performance in P&C. The analysts state that the rel...
Posted: Jan 19, 2023
Bermuda-based insurer R&Q Insurance Holdings Ltd has announced an update for its Program Management business, approving partnerships with seven new programs in December 2022, with an anticipated total GWP of ~$130m over the next 12-15 months....
Posted: Jan 19, 2023
The International Cooperative and Mutual Insurance Federation (ICMIF) has said that its members have $759 billion of assets under management in investments which are aligned to sustainable frameworks. This data comes from its 2022 Sustainable Inve...
Posted: Jan 19, 2023
Specialty insurance broker One80 Intermediaries has appointed Rick Grimes as National Wholesale Practice Leader. In the role, Grimes will lead One80’s wholesale distribution strategy for key lines of business, which includes property, casualty, fi...
Posted: Jan 19, 2023
Rising claims, resulting from increased weather-related catastrophes, are fuelling premiums and reinsurance costs for property and casualty (P&C) insurers in Australia, said S&P Global Ratings. According to a recent report by the credit ra...
Posted: Jan 19, 2023