Reinsurance News
S&P Global Ratings has decided to upgrade the ratings of CCR Re, based on the expectation that the reinsurer will be able to structurally reduce the volatility of its technical results and overall profitability over the coming years. The ratin...
Posted: Jan 17, 2023
Kingstone Companies, P&C insurance holding company, has announced the appointment of Jennifer Gravelle as Chief Financial Officer (CFO). Gravelle brings to Kingstone more than two decades of experience in the P&C insurance industry and exp...
Posted: Jan 17, 2023
The United Nations-convened Net-Zero Insurance Alliance (NZIA) has launched its first Target-Setting Protocol at the World Economic Forum’s Annual Meeting in Davos, Switzerland. Version 1.0 of the Protocol will enable NZIA members to begin to inde...
Posted: Jan 17, 2023
In an interview with Reinsurance News, Mark Bernacki, CUO and President of Amwins Alternative Risk Team, suggested that he remains very upbeat and positive on the MGA/MGU world despite assessing that valuation expectations will trend down in 2023....
Posted: Jan 17, 2023
Arthur Wightman, PwC Bermuda territory and Insurance leader, has suggested that Bermuda’s insurers have a substantial opportunity to increase global resilience. Wightman’s comments follow a PwC Global CEO Survey which polled 4,410 CEOs in 10...
Posted: Jan 17, 2023
U.S primary insurer Travelers has pre-announced estimated catastrophe losses of USD 459 million pre-tax (USD 362m after-tax), net of reinsurance, for the fourth quarter of 2022, but still expects to report an underlying, pre-tax underwriting gain...
Posted: Jan 17, 2023
As the World Economic Forum’s (WEF) Alliance of CEO Climate Leaders, which now includes 127 “seriously committed” executives from some of the world’s largest companies, continues to make progress, Christian Mumenthaler, CEO of re...
Posted: Jan 17, 2023
Liberty Specialty Markets (LSM) has promoted Melanie O’Neill to the role of Chief Underwriting Officer (CUO) in London, effective immediately. Within her new role, O’Neill will hold responsibility for setting and delivering the underwriting strate...
Posted: Jan 17, 2023
Oxbridge Re Holdings Limited has appointed Arun Gowda to serve as an independent director on the Board of the Company, effective immediately. Gowda will also serve as a director of Oxbridge Reinsurance Limited (OxRe), subject to approval of the Ca...
Posted: Jan 17, 2023
Moody’s has upgraded the Aa3 insurance financial strength rating (IFSR) and debt ratings (A1 senior unsecured, A2(hyb) subordinated, A3(hyb) preferred stock) of Zurich Insurance Company Ltd ., the insurers outlook has been changed to positive from...
Posted: Jan 17, 2023
Analysts at S&P Global Ratings have suggested that the Society of Lloyd’s will report a combined ratio of around 95% at the year-end of 2022, anticipating the same for 2023. The rating agency noted that this prediction takes into account...
Posted: Jan 17, 2023
South Shore Insurance Underwriters (SSIU), a niche, cat exposed, commercial and residential property surplus lines brokerage and MGA, has announced the appointment of Andrew Fowles as new Chief Underwriting Officer (CUO) Fowles brings a wealth of...
Posted: Jan 17, 2023
Specialty insurer and reinsurer MS Amlin, has announced that its Singapore-based operation, MS Amlin Asia Pacific Pte. Ltd (MS AAP), has launched a $45 million local special purpose reinsurance vehicle (SPRV); Phoenix 3 Re Pte. Ltd. This SPRV is a...
Posted: Jan 17, 2023
Broking and solutions company, WTW has appointed Tony Yen as Head of Taiwan. Yen succeeds Charles Wang who retired from the role in December 2022. Overall, Yen, who joined WTW in 2015, brings over 20 years of risk engineering, risk management and...
Posted: Jan 17, 2023
A majority of the World Economic Forum’s Community of Chief Economists expect a global recession in 2023, see geopolitical tensions continuing to shape the global economy, and anticipate further monetary tightening in the US and Europe. The foreca...
Posted: Jan 16, 2023
The International Group of P&I Clubs has completed its pooling and GXL reinsurance contract structure for 2023/24, securing coverage with only a “small increase in rates” for shipowners, despite challenging market conditions. To date, the IG h...
Posted: Jan 16, 2023
VIG Re, the reinsurance company of Vienna Insurance Group, has announced that Cristina Ferrari will become the new Chief Underwriting Officer, while Catrina Gemmerich will become the new Managing Director of VIG Re’s German Branch. VIG Re states t...
Posted: Jan 16, 2023
Global, aviation-focused alternative investment manager, Castlelake, L.P., has established Itasca Re Limited in Bermuda, a new reinsurance company designed to provide insurance financing solutions to both buyers and owners of commercial aircraft a...
Posted: Jan 16, 2023
Global life and health reinsurer, Reinsurance Group of America (RGA), and AI-focussed medical insurtech, DigitalOwl, have announced a collaborative partnership designed to support and streamline the underwriting process. DigitalOwl offers an innov...
Posted: Jan 16, 2023
Independent specialist re/insurance broker Miller, has appointed Claire Connolly as Head of M&A, to support the firm’s continued growth ambitions. Within this role, she will report to Ben Speers – Chief Corporate & Legal Affairs Offi...
Posted: Jan 16, 2023
Lorcán Hall has been appointed as Head of Business Model Development & Corporate Foresight at French reinsurer SCOR. In this Zurich-based role, he will work to pilot and scale internal innovations and work with non-traditional partners to co-c...
Posted: Jan 16, 2023
Rating agency AM Best has revised the outlooks to negative from stable for Canopius US Insurance, Inc. and Canopius Reinsurance Limited. At the same time, the rating agency affirmed both entities, which are wholly owned subsidiaries of Canopius Gr...
Posted: Jan 16, 2023
Consilium, the international broking re/insurance arm of Aventum, has announced that it has appointed Paul Richards to lead the business as Co-CEO. Richards will serve alongside long-time colleague James Baird, who was appointed CEO in November la...
Posted: Jan 16, 2023
Reinsurance giant Swiss Re has announced that Velina Peneva will succeed Guido Fürer as Group Chief Investment Officer (CIO), effective April 1st, 2023. Currently, Peneva serves as Co-Head Client Solutions & Analytics in Swiss Re’s Asset...
Posted: Jan 16, 2023
The 2022/2023 aerospace reinsurance renewals season is a chance to re-set retention levels, policy conditions and pricing levels to enable the global aerospace (GA) insurance market to continue to serve its end-user client base, according to Galla...
Posted: Jan 16, 2023