Reinsurance News
Generali has put out an update for the financial community on the integration of broker firm Cattolica and the implementation of new accounting standards. The financial giant said in its two-page update that an effective and accelerated integratio...
Posted: Dec 13, 2022
Generali has put out an update for the financial community on the integration of cooperative insurance firm Cattolica and the implementation of new accounting standards. The financial giant said in its two-page update that an effective and acceler...
Posted: Dec 13, 2022
RSA Insurance, a British multinational general insurance company, has announced two new appointments to its UK Specialty Lines Accident & Health (A&H) business. Laura Fox joins the business as Regional Underwriting Manager and will start h...
Posted: Dec 13, 2022
The US Federal Emergency Management Agency (FEMA) has given an update to estimates for National Flood Insurance Program (NFIP) claims arising from Hurricane Ian to somewhere between $3.7bn and $5.2bn. This new figure is a slight bump from earlier...
Posted: Dec 13, 2022
Argo has confirmed that activist investor Capital Returns Master has withdraw its nomination for two candidates to Argo’s Board of Directors, just days before shareholders were set to vote on its composition at the company’s December 1...
Posted: Dec 13, 2022
Severe flooding this winter could cost UK insurers up to £1.6 billion, according to a recent analysis by PwC. Most costly floods, in terms of insurance costs, that took place over the last decade, occurred during the winter of 2015-16 which saw St...
Posted: Dec 13, 2022
Global professional services firm Aon has announced that Louisa Blain has joined as a partner in its Human Capital Solutions (HCS) team in the UK. In the new role, Blain will lead insurance consulting for HCS, leveraging Aon’s extensive capabiliti...
Posted: Dec 13, 2022
A new note from WTW says that increased competition from cyber underwriters has led to more nominal rate increases when organisations can demonstrate good cyber security controls year over year. The firm said in its note that these cyber underwrit...
Posted: Dec 13, 2022
Property and casualty insurer Chubb has announced plans to launch a new technology services center in Thessaloniki, Greece in early 2023. Technical engineers and developers employed at the center will look to drive initiatives in areas such as int...
Posted: Dec 13, 2022
As the global reinsurance industry looks ahead to 2023, writing in this op-ed, Swiss Re’s Moses Ojeisekhoba, Chief Executive Officer – Reinsurance, explains the need to reshape the risk industry, in order to boost resilience in an incr...
Posted: Dec 13, 2022
Trawick International has announced that it has received delegated authority as an approved Lloyd’s coverholder. As a coverholder, Trawick International is now part of Lloyd’s foremost global network. The company also now holds the authority...
Posted: Dec 13, 2022
QBE Europe, a business insurance specialist part of QBE Insurance Group, is expanding its financial lines offering with the launch of Warranty and Indemnity (W&I) insurance in the continent. It will offer protection for unknown breaches of tar...
Posted: Dec 13, 2022
Helios Underwriting has raised another £0.24m in funding through the open offer to qualifying shareholders of 152,568 open offer shares. The firm said that the open offer closed for applications on 9 December, with the firm receiving valid accepta...
Posted: Dec 13, 2022
Descartes Underwriting, an MGA focused on climate risk insurance products, has announced the launch of Descartes Insurance, a full-stack insurer licensed to underwrite risk by the French Regulator (ACPR). Backed by a panel of A-rated risk carriers...
Posted: Dec 13, 2022
Insurance broker and risk advisor Marsh has announced the promotion of Sean Chong Chou to CEO Malaysia, effective 1st of January 2023. Chou is stepping up from his current position as Deputy CEO, which he has held for over a decade. According to M...
Posted: Dec 13, 2022
ZEP-RE, a reinsurance company based in Nairobi, Kenya, has partnered with data provider Planet Labs to expand its drought insurance program in the Horn of Africa (HOA) region. The reinsurer plans to leverage Planet’s Basemaps products to measure v...
Posted: Dec 13, 2022
Fitch Ratings has suggested the pricing uncertainty and possible lack of reinsurance coverage in 2023 following Hurricane Ian may lead to a reduction in the number of Florida private homeowners specialists, highlighting the mounting pressure on st...
Posted: Dec 12, 2022
Ryan Specialty has signed a definitive agreement to acquire what it calls ‘certain assets’ of Griffin Underwriting Services. The firm said in a statement that it was expected that the acquisition would close next month. Terms were not disclosed. T...
Posted: Dec 12, 2022
A new note from Keefe, Bruyette, & Woods (KBW) says that a recent meeting between its representatives and those of Hippo Holdings has led it to say that the firm is able to retain more risk than it currently does should reinsurance cost prove...
Posted: Dec 12, 2022
WR Berkley has said that its board of directors has elected to its midst Daniel L. Mosley. The move, which comes into effect in January, will increase the number of board members to ten and the number of independent directors to eight. The New Yor...
Posted: Dec 12, 2022
WTW has selected Stephen Chipman, former CEO of Grant Thornton U.S.; Jackie Hunt, former chair of Allianz Asset Management and Allianz Life (U.S.); and Fredric Tomczyk, former president and CEO of TD Ameritrade, to join the board, each with start...
Posted: Dec 12, 2022
DXC Technology has unveiled its new global digital broking platform – DXC Assure Broking, with independent insurance brokerage, Lockton as it’s first customer. Lockton is using DXC’s cloud-based platform for its UK retail business with a view to e...
Posted: Dec 12, 2022
Great American Insurance Group will continue to write Kidnap & Ransom (K&R) business while maintaining its relationship with Hiscox USA as they announce an expanded collaboration, along with Control Risks, a global specialist risk consulta...
Posted: Dec 12, 2022
Arch Insurance has said that Rich Stock has taken on the role of chief underwriting officer for its casualty and surety business. A post from the firm on LinkedIn said that Stock will oversee E&S casualty and alternative markets together with...
Posted: Dec 12, 2022
In a new report from AM Best, the rating agency has stated that it has maintained its market segment outlook for the US commercial lines segment at stable. The rating agency cited factors including the segments strong underwriting performance thro...
Posted: Dec 12, 2022