Reinsurance News
InsurTech Blink Parametric’s travel delay cover has protected over 60,000 travellers over the holidays throughout the recent travel chaos in the US. Travel chaos in the US caused by severe weather conditions has resulted in more than 11,000 flight...
Posted: Jan 04, 2023
Victorio Villa, former Regional Head of Property, Asia, at Allianz, has joined MSIG Asia as Senior Vice President and Head of Technical Services. According to the announcement, in his new role, Villar has been tasked to deliver technical excellenc...
Posted: Jan 04, 2023
According to a new report from AM Best, increases in US P&C insurers’ underwriting expenses have been offset by commensurate increases in net premiums written, which has resulted in stable expense ratios over the past decade. The report ...
Posted: Jan 03, 2023
AIG has announced that Don Bailey has joined the company as Global Head of Distribution and Field Operations, effective immediately. Bailey is an experienced operator, having held various senior roles across the insurance industry over the last th...
Posted: Jan 03, 2023
According to analysts at Fitch Ratings, US health insurers should be able to withstand the effects of high inflation and rising interest rates, amid their expectations for a mild US recession in 2023. Fitch stated that the structural advantages af...
Posted: Jan 03, 2023
Trium Cyber has announced its US-based service company has begun to provide cyber and technology errors & omissions coverage for US-domiciled risks. Writing on behalf of Lloyd’s Syndicate 1322, the company is backed by Pelican Ventures and thi...
Posted: Jan 03, 2023
Aon has announced that it has promoted Natalia Char Mutis to the role of Head of Commercial Risk Latam. Based in Miami, Florida, Natalia joined Aon in 2021 as Strategy and Broking Leader Commercial Risk Latam. Prior to Aon, she spent over seven ye...
Posted: Jan 03, 2023
Analysis by reinsurance broker Gallagher Re reveals that some catastrophe loss-hit treaties in the U.S. witnessed rate increases of more than 100% at the January 1st, 2023, reinsurance renewals, as Hurricane Ian, other catastrophe and risk losses,...
Posted: Jan 03, 2023
American Overseas Group Limited has reported a net loss of $0.4 million for the third quarter of 2022, compared to a $1.8 million net loss from the same period last year. At the same time, the company’s operating loss for the Q3 was $0.4 mil...
Posted: Jan 03, 2023
CRESTA, the re/insurance industry organisation that provides a global standard for risk accumulation zones and cat industry losses, has released its Q4 update of the CRESTA Industry Loss Index (CLIX), highlighting a significant rise in weather-rel...
Posted: Jan 03, 2023
A myriad of events came together and drove the hardest property catastrophe reinsurance market in a generation at the key, January 1st, 2023, reinsurance renewals, with structures and coverage terms at the forefront of negotiations, according to r...
Posted: Jan 03, 2023
Swiss Re Corporate Solutions, the commercial direct risk underwriting arm of Swiss Re, has announced a new appointment to the Innovative Risk Solutions EMEA team. Schorstein has been appointed Senior Structurer, a role with a significant focus on...
Posted: Jan 03, 2023
Chinese domestic insurer PICC Property and Casualty Company Limited has sponsored a $32.5 million Great Wall Re Limited deal to provide it with earthquake reinsurance in the third catastrophe bond issuance to be domiciled in and issued out of the...
Posted: Jan 03, 2023
Global reinsurer SCOR has appointed Fanny Rosset as Deputy Chief Underwriting Officer of Alternative Solutions. Rosset joined the firm’s Alternative Solutions team at the beginning of the year. Throughout her16 year tenure at SCOR, Rosset ha...
Posted: Jan 03, 2023
Bermuda-based RenaissanceRe has appointed Cathal Carr as SVP, Chief Underwriting Officer – Europe. In his new role Carr will lead market engagement and deal execution in the continent from RenRe’s London, Zurich and Dublin underwriting platf...
Posted: Jan 03, 2023
Insurance and reinsurance are a “key part” of allowing renewable energy companies such as SSE Renewables to develop wind and other clean energy projects successfully, according to a senior figure at the SCOR partner. SSE Renewables has developed a...
Posted: Jan 03, 2023
Gallagher Re has described the January 1st reinsurance renewals as “complex and in many cases frustrating” as tense negotiations ran “down to the wire” and reinsurers restricted capacity and pushed for tough terms and pricing. The broker’s 1st Vie...
Posted: Jan 03, 2023
Swiss Re Corporate Solutions, the commercial direct risk underwriting arm of Swiss Re, has received federal regulatory approval to establish a Canadian branch of Swiss Re Corporate Solutions America Insurance Corporation (SRCSAIC). Effective from...
Posted: Jan 03, 2023
Reinsurance companies on year-end 2022 renewals are pushing rates, retentions, and terms and conditions onto buyers of protection, with sellers generally achieving 35% of greater risk-adjusted rate rises, according to analysis by Stonybrook Capita...
Posted: Dec 30, 2022
MS&AD Ventures, the Silicon Valley-based fund owned by MS&AD Insurance Group Holdings, has increased its fund size by $100 million, bringing the total amount of funds under management to $300 million. Since its establishment in October 201...
Posted: Dec 30, 2022
Some of Japan’s largest non-life insurers look set to continue providing marine war insurance coverage in a major policy U-turn, following negotiations with reinsurers, and after pressure from the Japanese Government not to drop the business...
Posted: Dec 30, 2022
Insurance broker Howden has acquired 100% of Spanish insurance broker March Risk Solutions (March R.S.) and has signed an alliance with Banca March, March R.S.’s parent company and one of the region’s pre-eminent investment banks. Following the pu...
Posted: Dec 30, 2022
US insurance brokerage Relation Insurance Services has announced the promotion of Timothy J. Hall to the position of President. In his new role, Hall will be responsible for strategic growth initiatives, performance management, carrier management/...
Posted: Dec 30, 2022
Legacy acquirer DARAG Group has announced the conclusion of a reinsurance agreement with an undisclosed large US carrier. The transaction value at the reference date was approximately $15 million, and the deal has been written into DARAG Bermuda....
Posted: Dec 30, 2022
The reinsurance sector now finds itself at a “crossroad,” according to analysts at Guy Carpenter, following one of the most challenging renewal periods ever experienced at January 1. In a report on the crucial renewal period, Guy Carpenter – a glo...
Posted: Dec 30, 2022