Reinsurance News
Leading independent specialty insurance program manager, K2 Insurance Services, has announced that Warburg Pincus, a leading global growth investor, has agreed to acquire the company from Lee Equity Partners, LLC, a growth oriented middle market p...
Posted: Dec 01, 2022
Aon has said that Michelle Mason, current head of enterprise clients (ECG) is to see her role expanded to include the strategic leadership of the UK major complex and enterprise segment (MCE). The firm said in a statement that Mason will lead the...
Posted: Dec 01, 2022
Brussels-headquartered multinational insurer Ageas has accelerated the transition towards net-zero carbon emissions in its investment portfolio. The insurers strategic plan, Impact24, includes a strong focus on sustainable growth. Under this plan,...
Posted: Dec 01, 2022
Reinsurance giant Swiss Re and carbon removal tracing platform Carbonfuture, have signed a multi-year offtake agreement to support high-quality standards in the biochar carbon removal market. Carbonfuture suggests that the partnership is among the...
Posted: Dec 01, 2022
A new note from Moody’s says that the financial leverage of Europe’s leading insurers rose to a record high of 28.2% on average in the first half of the year. The firm said that there had been a rise of 483 basis points over that time, with the in...
Posted: Dec 01, 2022
According to the Swiss Re Institute, Hurricane Ian, alongside the winter storms in Europe, flooding in Australia and South Africa, and hailstorms in France and the US, have resulted in an estimated $115 billion of natural catastrophe insured losse...
Posted: Dec 01, 2022
Specialty insurer and reinsurer Convex has appointed Paul Simons as deputy chief executive officer and has promoted Richard Slater to chief underwriting officer, subject to regulatory approval, at Convex Re. The firm said in a statement that both...
Posted: Dec 01, 2022
The rapidly improving property catastrophe reinsurance market is a solid opportunity for American International Group (AIG) to more aggressively leverage the capabilities of Validus Re, the firm’s underwriting arm, said AIG CEO Peter Zaffino in co...
Posted: Dec 01, 2022
Reinsurer Munich Re has estimated that, following the 2022 North Atlantic hurricane season, overall losses from all storms amounted to around US $110 billion, with insured losses in the magnitude of $65 billion. Hurricane Ian alone is expected to...
Posted: Dec 01, 2022
A new note from analysts Berenberg says that next year’s adoption of IFRS 17 has led to Legal & General announcing a 20-25% reduction in its operating profit. The firm said that the incoming standard had led to a ‘dominance of annuities’ in Le...
Posted: Dec 01, 2022
While artificial intelligence (AI) promises faster and smarter decision making, the Actuaries Institute and the Australian Human Rights Commission (AHRC) worry about potential discrimination and highlight the need to prevent this. To address the i...
Posted: Dec 01, 2022
According to Fitch Ratings, the outlook for Italian insurance in 2023 is deteriorating for the non-life sector, while life remains neutral. Fitch’s non-life sector outlook is deteriorating due to the expectation of an inflation-related incre...
Posted: Dec 01, 2022
Insurance broker, AssuredPartners, has acquired Alpine Insurance Associates, located in Reno, NV. Alpine’s team will remain under the operational leadership of President, Chris Gonfiantini and Vice President, Ryan Garaventa. Gonfiantini, commented...
Posted: Dec 01, 2022
A new report from PwC Middle East has highlighted several key trends that are expected to make an impact on the future of the Middle East’s insurance industry. One of the key trends that the report addresses is how automation and artificial intell...
Posted: Dec 01, 2022
DA Strategy, a specialist Delegated Authority consultant and MGA Accelerator, has announced it is strengthening the company’s specialist offering to the London market with the appointment of Paul Uprichard as an Executive Director. He is joining t...
Posted: Dec 01, 2022
Wejo,a provider of software solutions for smart mobility, has teamed up with Ford Motor Company to expand its end-to-end insurance offerings across the US. Through this partnership, Wejo will have access to personalized connected vehicle data from...
Posted: Dec 01, 2022
Aon has appointed Maakopi Reason Maredi as head of transaction solutions for the Sub-Saharan Africa region. The firm said in a statement that Reason will be based in Johannesburg and joins the firm from Webber Wentzel, where she was a corporate pa...
Posted: Dec 01, 2022
Reports suggest that investment firms British Columbia Investment Management Corp. (BCI) and Preservation Capital Partners are mulling the sale of global insurance and reinsurance broker BMS Group. According to a Bloomberg report, citing people fa...
Posted: Nov 30, 2022
Berkshire Hathaway Specialty Insurance (BHSI) has announced a pair of promotions on its US Executive & Professional Lines team. Shelley Norman has been named Senior Vice President, Management Liability, US, and Jason Preston has been named Sen...
Posted: Nov 30, 2022
Amwins, a global distributor of specialty insurance products and services, has purchased Arena Special Risks’ wholesale business from commercial real estate and retail insurance firm Franklin Street. Both Amwins and Franklin Street have a lo...
Posted: Nov 30, 2022
AXA XL, the property & casualty and specialty risk division of AXA, has announced the additions of Rana Gillmon as Senior Client Relationship Leader and Allan Jackson as Client Relationship Leader. Both are based in Atlanta and report to James...
Posted: Nov 30, 2022
According to GlobalData, Progressive Corporation has overtaken State Farm to become the largest motor insurer in the US. The company’s growth was largely attributed to its expanding for-hire transportation business, says GlobalData, alongside high...
Posted: Nov 30, 2022
Chubb has named Lyndsey Christofer as Real Estate & Hospitality (REH) Industry Practice Leader, a role that will see her oversee the strategic direction of the practice and lead Chubb’s REH-dedicated underwriting, risk consulting and cla...
Posted: Nov 30, 2022
Independent global provider of claims solutions, Charles Taylor, has announced it has acquired The Matrix Companies, a third-party administrator and risk management specialist. The acquisition is set to broaden Charles Taylor’s portfolio by includ...
Posted: Nov 30, 2022
Broker and consulting firm USI Insurance Services is to team up with platform GK8 to launch a new plan giving the latter’s customers up to $1bn of dedicated cover. A joint statement from the two firms said that plan will allow GK8’s crypto custody...
Posted: Nov 30, 2022