Reinsurance News
AXA XL Reinsurance has announced the appointment of Claudia Ingenhoven as Chief Financial Officer, Reinsurance, effective 13 February 2023. Ingenhoven has extensive experience working within finance functions at a number of leading re/insurers. Th...
Posted: Dec 19, 2022
Cyber risk analytics provider CyberCube has secured $50 million in additional growth capital from investment funds managed by Morgan Stanley Tactical Value, with continued participation from all its existing investors. These include Forgepoint Cap...
Posted: Dec 19, 2022
Independent specialist re/insurance broker, BMS has expanded its London DUA and programme division with a number of speciality hires. The firm has appointed Richard Wynn as managing director of specialty classes for their London DUA and programmes...
Posted: Dec 19, 2022
According to GlobalData, Chubb’s increased stake in Huatai Insurance Group from 47.3% to 83.2% will allow the firm to bolster its life insurance business in the Asia-Pacific region, giving access to Huatai’s 19 million customer base and a ne...
Posted: Dec 19, 2022
AM Best has revised the outlook to positive from stable and affirmed the Long-Term Issuer Credit Ratings of “bbb” (Good) of AIG, and has revised the outlooks to positive from stable for the Long-Term ICRs and affirmed the Financial Strength Rating...
Posted: Dec 19, 2022
Re/insurance broker McGill and Partners has appointed Erin Stochmal as Partner – Facultative Reinsurance. Based in Chicago, Stochmal joins McGill and Partners from CNA Insurance, where she held the role of Underwriting Consulting Director Um...
Posted: Dec 19, 2022
Recent research by ACORD, the global standards-setting body for the insurance industry, highlights key drivers of high performance among top insurers, including the advantages of scale, the importance of talent and the unsustainability of relying...
Posted: Dec 19, 2022
AM Best has assigned ratings to Fontana Reinsurance and its US counterpart, two subsidiaries of the casualty and specialty venture recently launched by Bermuda reinsurer RenRe. Fontana Re has assigned a Financial Strength Rating (FSR) of A (Excell...
Posted: Dec 19, 2022
A new note from Goldman Sachs around P&C insurance reports that reinsurance capacity is strained with rates potentially up by over 50% for US cat. The note arises from conversations the financial giant had with property and casualty insurers t...
Posted: Dec 19, 2022
Fenchurch Law, the UK legal firm focused on insurance coverage disputes, has announced it is expanding its London team with three new additions to its coverage disputes team. The team was set up to help level the playing field between policyholder...
Posted: Dec 19, 2022
Marine insurance provider Skuld has reported a positive result of $13.4 million for the first nine months of the 2022/23 financial year, an improvement of $33.9 million compared with the same period last year. According to the firm, gross premium...
Posted: Dec 19, 2022
Trean Insurance Group has announced that it has entered into a definitive merger agreement with affiliates of Altaris, which currently owns approximately 47% of Trean’s outstanding common stock. The transaction, which implies a total equity value...
Posted: Dec 19, 2022
Insurance brokerage, Relation Insurance Services has announced the retirement of President and Chief Operating Officer, Ed Page. The company stated that Page had initially planned to retire at year’s end, but continue on as a significant sharehold...
Posted: Dec 19, 2022
Brokerage, consulting and software solutions firm WTW has announced the appointment of Florence Tondu-Mélique as the new Managing Director of WTW in France and as Director of Corporate Risk & Broking for France. Tondu-Mélique will be tasked wi...
Posted: Dec 19, 2022
Bermudian reinsurer Vantage Risk has joined as the latest Observer Member and participant in the Medium and Long Term (MLT) Committee. The reinsurer was admitted as a member following a presentation of their business to the Berne Union Annual Gen...
Posted: Dec 19, 2022
Palomar Holdings, the California-headquartered specialty insurer that provides largely catastrophe exposed property products, is planning to begin underwriting some reinsurance lines that are “uncorrelated” with its broader portfolio....
Posted: Dec 16, 2022
According to the Canadian Crop Hail Association (CCHA), the Canadian crop hail industry provided a record-setting $10 billion in coverage as producers purchased more insurance in the wake of increasing input costs, inflation and strong crop prices...
Posted: Dec 16, 2022
In an interview with Reinsurance News, Alex Mican, Director, Specialty Lines Product Development, PCS, Verisk Claims, suggested that given the events of the past year, having access to additional loss data sources will be vital to a successful Jan...
Posted: Dec 16, 2022
AXA XL has tapped Meredith Baron to lead its controlled insurance program business, promoting her to her new position within its North America construction division. A statement from the firm says that the Exton, Pennsylvania-based Baron will repo...
Posted: Dec 16, 2022
The ratings of Canada’s life insurers are currently being driven by a highly diversified business profile and geographic diversification, according to a recent peer review by Fitch Ratings. The largest Canadian life insurers represent more than tw...
Posted: Dec 16, 2022
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Barents Re and its affiliate, Barents Re Lux. AM Best suggests that t...
Posted: Dec 16, 2022
Analysts at KBW are forecasting “solid growth prospects” for reinsurance broking unit Gallagher Re over the next two years, following comments at Arthur J. Gallagher’s recent investor day. It’s thought that Gallagher Re could be set to “go on to s...
Posted: Dec 16, 2022
Chinese insurers are withdrawing coronavirus policies from sale as they try to avoid huge payouts amid a nationwide surge of cases following the relaxation of Covid restrictions in the country. According to online news platform Quartz, Chinese med...
Posted: Dec 16, 2022
Allianz Trade in the UK and Ireland has hired Steve Stennett as Commercial Director. Within this role, Stennett will hold responsibility for fostering Allianz Trade’s UK and Ireland client, broker and partner relations, as well as delivering profi...
Posted: Dec 16, 2022
Safe Security has launched an MGA specialising in cybersecurity called SafeInside Insurance. The firm said in a statement that the MGA looked to leverage API-based cyber risk telemetry and quantified insights to underwrite cyber insurance. Backed...
Posted: Dec 16, 2022