Reinsurance News
Shirel Stedman, a flood and climate expert, has been appointed to the board of UK’s government-backed reinsurance scheme, Flood Re as a non-executive director (NED). Her appointment comes at a critical time with climate change on the rise and Floo...
Posted: Jan 11, 2023
International Captive Exchange (ICE), a Health In Tech, Inc. company, has entered into an agreement to serve as the Managing General Underwriting (MGU) for Liberty Mutual Insurance in a program providing employer stop-loss insurance. Under the agr...
Posted: Jan 11, 2023
P&C solutions provider Duck Creek Technologies has announced a definitive agreement to acquire Imburse Payments, a Swiss-based modern payments platform. Imburse’s cloud-native SaaS payment solution is designed for the insurance industry,...
Posted: Jan 11, 2023
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has announced that financial analysis firm Demotech has assigned an FSR of A, Exceptional, to the Kin Interinsurance Nexus. The Kin Interins...
Posted: Jan 11, 2023
London-based insurtech Superscript has announced the completion of its £45 million ($54m) Series B funding round led by existing investor BHL UK with participation from a new investor, The Hartford. According to Superscript, the funding will be us...
Posted: Jan 11, 2023
Fitch Ratings has released a report suggesting that reinsurers’ underwriting margins after retrocession will expand by 4 percentage points on average in 2023. The rating agency noted that the global reinsurance industry reached a tipping poi...
Posted: Jan 10, 2023
While the global outlook for the non-life insurance sector remains neutral, this classification belies the significant challenges faced by many developed markets as they feel the impacts of inflationary pressures, according to Fitch Ratings. The r...
Posted: Jan 10, 2023
New York domiciled investment firm, Aquarian Holdings, has announced the closing of its acquisition of a controlling stake in Bermuda-based reinsurer, Somerset Reinsurance, from shareholders. The deal, first announced back in June 2022, will see A...
Posted: Jan 10, 2023
Zurich North America has collaborated with Innovative Captive Strategies (ICS) to launch Envision Re, Ltd., a captive insurance company that will bring together businesses that want to optimise their risk management programs while reducing their c...
Posted: Jan 10, 2023
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has announced the appointment of Carl Faulkner to the newly-created role of Head of Digital Strategy for Continental Europe. Faulkner joins LSM from BNP Paribas where he was...
Posted: Jan 10, 2023
Global climate risk solutions platform, Arbol, has announced that insurance-linked securities and parametric insurance expert, Hector Ibarra, has joined the company as Vice Chairman of LATAM. Ibarra holds more than two decades of experience drivin...
Posted: Jan 10, 2023
WTW, a global advisory, broking, and solutions company, has appointed Dominic Gallina as the Head of Property Broking – Real Estate, Hospitality, and Leisure within North American Corporate Risk and Broking (CRB). In this new role Gallina wi...
Posted: Jan 10, 2023
Global broking company, Brokerslink, has announced that Ardonagh Specialty has joined its international network. The move brings the entire Ardonagh Specialty business into Brokerslink as partners, including brands Price Forbes, Bishopsgate, Compa...
Posted: Jan 10, 2023
Helios, the investment vehicle that acquires and consolidates underwriting capacity at Lloyds’, has announced a 39% increase in its retained capacity for 2023. The company’s overall portfolio, including its capacity reinsured, increased to...
Posted: Jan 10, 2023
Amynta Group has announced a strategic partnership in which it will acquire Ambridge Group, the Managing General Underwriter (MGU) operations of Brit, a subsidiary of Fairfax, for $400m and enter into a multi-year agreement for Brit to be a signif...
Posted: Jan 10, 2023
Hamilton CEO Pina Albo has been elected as the new Chairperson of the Association of Bermuda Insurers and Reinsurers (ABIR), becoming the first woman to serve as ABIR Chair in its 30-year history. She succeeded Marc Grandisson, CEO of Arch Capital...
Posted: Jan 10, 2023
Clayton, Dubilier & Rice (CD&R), a private investment firm, has appointed Dan Glaser, former President and CEO of Marsh McLennan (MMC) as an Operating Partner. According to the announcement, Glaser joins CD&R’s Financial Services...
Posted: Jan 10, 2023
Global re/insurance outsourcing and consulting specialist Pro Global Holdings has claimed that over $1 billion in global re/insurer reserves is sitting dormant in loss funds, despite all claims being paid in full. The firm said it wants to support...
Posted: Jan 10, 2023
Gallagher has announced that it is launching energy and power risk services for clients in the Middle East, naming Jack Wishart to lead the new practice as Divisional Director & Head of Risk Engineering. Wishart, who is currently Vice Presiden...
Posted: Jan 10, 2023
Global catastrophes around the world in 2022 drove estimated economic losses of USD 270 billion, of which roughly 44% or USD 120 billion were covered by re/insurance, resulting in another above-average year of losses for the industry, according to...
Posted: Jan 10, 2023
Aston Lark, a Howden company, has today announced two senior appointments following the opening of two new regional offices in the UK. The broker’s new Thames Valley office will be headed by Alistair Matthews, who also joins as a Regional Director...
Posted: Jan 10, 2023
Allianz Commercial announced the promotion of Arshad Rashid to Regional Underwriting Manager for its Engineering, Construction & Power (EC&P) business in London. In his new role, Rashid will help the company to drive EC&P’s growth and...
Posted: Jan 10, 2023
Core Specialty Insurance Holdings, Inc. and its subsidiaries have announced the launch of an excess liability program in conjunction with Synchronosure, a tech augmented underwriting agency. According to the announcement, the program will provide...
Posted: Jan 10, 2023
Live flood alert Insurtech Previsico is set to leverage the new €4.3bn Meteosat satellite system to deliver even faster and more accurate flood warnings for clients like Zurich, Liberty, and Generali. The insurtech already provides real-time, prop...
Posted: Jan 10, 2023
Keystone Insurers Group has announced the appointment of Tony Rhodes as its new Executive Vice President of Property & Casualty. Keystone says that in the new role, Rhodes will support the development of P&C opportunities and strategise me...
Posted: Jan 10, 2023