Reinsurance News
EY (Ernst & Young) is reporting that UK motor and home insurers expect to make largest annual loss in well over a decade this year, with further losses forecast in 2023. The firm says that despite a profitable 2021, both motor and home insurer...
Posted: Nov 25, 2022
US insurer, Liberty Mutual Holding Company (LMHC), is exploring a sale of its businesses in Spain, Portugal and Ireland, according to Bloomberg News sources. People familiar with the matter – who have asked not to be identified as discussion...
Posted: Nov 25, 2022
Generali Asia has announced the appointment of Cecilia Chang as the Chief Executive Officer of Generali Life (Hong Kong) Limited and General Manager of Assicurazioni Generali S.p.A. Hong Kong Branch. Chang joined the Generali Group in 2016 in Hong...
Posted: Nov 25, 2022
Independent Chinese financial services provider, Fanhua Inc., has announced the execution of a term sheet to acquire majority interests in Zhongrong Smart Finance Information Technology. The proposed transaction will involve the issuance of up to...
Posted: Nov 25, 2022
The Florida Office of Insurance Regulation (OIR) has said that insured losses estimated off claims data submitted by primary insurers in the state after hurricane Ian now stand at almost $10.3 billion. According to data, there are approximately 64...
Posted: Nov 24, 2022
The Bermuda Monetary Authority (BMA) has noted a “significant growth increase” in the number of organisations using captives for cyber insurance and climate risk as part of their overall management of risk. In a new report on the state of the Berm...
Posted: Nov 24, 2022
SCOR Investment Partners, a an investor focussed on increasing its sustainability linked platform, has announced the launch of SCOR Euro Loans Natural Capital. According to the announcement, this new corporate loan fund is open to institutional in...
Posted: Nov 24, 2022
According to AM Best analysts, plans to reform the Solvency II framework for UK insurers will allow the country’s life insurers to invest in a wider array of assets, and likely lead to a higher proportion of UK-based assets underpinning the UK ann...
Posted: Nov 24, 2022
Allianz Global Corporate & Specialty (AGCS) has announced it is enhancing capabilities and resources of its Alternative Risk Transfer (ART) line of businesses to respond to what it says is growing customer interest in tailored solutions that c...
Posted: Nov 24, 2022
Helios Underwriting has raised £12.5m in funding through a new share placement. In a statement, it said that it had successfully raised proceeds through a placing of, and a subscription for, an aggregate of over eight million shares at £1.56 per s...
Posted: Nov 24, 2022
Tokio Marine HCC International has promoted Vanesa Herrero to the role of chief executive officer of Tokio Marine Europe. The firm said that the appointment appointment follows the imminent departure of Christian Kanu who is leaving TMHCCI to take...
Posted: Nov 24, 2022
International re/insurance broker, Consilium, part of the Aventum Group, has announced that it has created a dedicated in-house claims team and has appointed Nicola Chapman to Head of Claims. Chapman holds almost two decades of claims experience w...
Posted: Nov 24, 2022
Liberty Mutual Re has appointed reinsurance and retrocession expert Ly Lam to the newly-created role of Chief of Staff. In the new role, Lam will support the senior leaders to implement and execute the firm’s strategic objectives. Liberty Mu...
Posted: Nov 24, 2022
Specialist insurer Beazley has named Ellie Horner as Group Head of Ceded Reinsurance, following the departure of William Mills to AGCS. Horner has served as Ceded Reinsurance Manager at Beazley since 2020. Prior to this, she spent 12 years working...
Posted: Nov 24, 2022
Insurance broker and risk advisor, Marsh, has announced that it intends to exercise its option to acquire the majority of shares in Beassur Marsh, following its acquisition of a stake in the Moroccan insurance broker in June 2019. The Beassur Mars...
Posted: Nov 24, 2022
Prices for the European reinsurance market are predicted to be at some of the highest levels seen in the last 30 years, according to JP Morgan analysts. According to the firm, some focused specialist reinsurers point to a pricing environment simil...
Posted: Nov 24, 2022
There is a huge growth potential for the cyber insurance market, and more could be unlocked if re/insurers worked on a number of points to improve it, Rebecca Bole, CyberCube’s Head of Industry Engagement, suggested at AM Best’s “Europe Insu...
Posted: Nov 24, 2022
The global expansion of the professional sport industry combined with the varying type of its insurance needs, has resulted in the exponential growth of the sports insurance business in the past few years. DBRS Morningstar expects it to continue g...
Posted: Nov 24, 2022
Etihad Credit Insurance (ECI) and African Trade Insurance Agency (ATI) have signed a reciprocal reinsurance agreement to strengthen trade ties and boost exports between the two markets by providing trade credit insurance and trade finance solution...
Posted: Nov 24, 2022
Analysts at international insurance broker Howden are forecasting that reinsurance sector returns will rise significantly in the next few years, with the sector set to grow in spite of – or perhaps even because of – the deteriorating global econom...
Posted: Nov 23, 2022
A combined study from the National Association of Mutual Insurance Companies (NAMIC) and the Ohio State University has found that only 19% of nearly 600 homeowners across 10 states with an increased risk of fire are certain they have enough insura...
Posted: Nov 23, 2022
This next renewals period is a time for reinsurers to move towards risk and not away from it in order to showcase what the industry does best, according to Andy Marcell, CEO of Aon Reinsurance Solutions. For more than 400 years, re/insurers have p...
Posted: Nov 23, 2022
The Reinsurance Advisory Board (RAB) has responded to a consultation by the Insurance Regulatory and Development Authority of India (IRDAI) on a draft amendments to its reinsurance regulations. The IRDAI’s proposed changes on order of preference w...
Posted: Nov 23, 2022
Applied Systems has reported that quoted premiums for both Personal Auto lines and Personal Property lines decreased year over year in Q3 2022. The Personal Auto premium rate change decreased to 4.1% versus Q3 2021, though saw an increase of 4.1%...
Posted: Nov 23, 2022
Fannie Mae has executed its eleventh and final Credit Insurance Risk Transfer transaction of 2022, as part of its ongoing effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market. CIRT 2022-11 transferred $34...
Posted: Nov 23, 2022