Reinsurance News
In recent years there has been a strong increase in cyber attacks, which has made organisations and companies realise that they can become a target and face serious consequences, Swiss Re Institute notes in a new report. They have also realised th...
Posted: Nov 23, 2022
According to a recent AM Best report, US nonstandard auto insurers suffered a 1H22 underwriting loss of $766 million, marking it as the segment’s worst half-year result in five years, as impacts from inflation on auto repair and medical costs, as...
Posted: Nov 23, 2022
Lancashire Insurance Group has made a series of new appointments. The firm said on LinkedIn that it had appointed Emma Jefferies to the role of senior underwriter, Edward Elston as a delegated underwriting administrator, and Aaron Wong as an expos...
Posted: Nov 23, 2022
The Ardonagh Group, the largest independent insurance broker in the UK, has announced it has agreed to acquire Australian insurance firm Envest for AUD482 million (£270 million) Brisbane-based Envest includes the broking network Aviso Group, a net...
Posted: Nov 23, 2022
SCOR has provided an update on the rollout of its parametric microinsurance cover against climate change in Fiji, and says its plans to expand into other Pacific island territories are “already underway.” The reinsurer has been involved since 2021...
Posted: Nov 23, 2022
MS Reinsurance has appointed Marlin Ramlal as senior underwriter, property, where she will report to Andrew Shaw, lead underwriter, property. Within this role, she will be based in Bermuda. Ramlal brings more than 17 years of experience from worki...
Posted: Nov 23, 2022
Munich Re has launched a new research and development centre in Shanghai, China. The firm said that the new centre will ‘foster new innovative initiatives’ through facilitating networks with technology providers and industry leaders. It said that...
Posted: Nov 23, 2022
Broker and risk advisory firm Marsh says it has placed insurance with Beazley for the first space rocket launch from the UK. The firm said that the launch – which is expected to take place this year at Spaceport Cornwall, one of the UK’s first dom...
Posted: Nov 23, 2022
Cyber risk modeller DeNexus has opened an office in the UK capital. The firm said in a statement that the move was part of its plan to expand into Europe. The office is headed up by Mitesh Chauhan, global vice president of product, who joins from...
Posted: Nov 23, 2022
Michel M. Liès, Steering Committee Chairman of the IDF and Chairman of Zurich Insurance Group, has asserted that the IDF’s announcements at the recent COP27 climate conference are “a testament to how insurance can influence systemic ch...
Posted: Nov 23, 2022
According to Tamara Soyka, Head Cat Perils EMEA, Swiss Re Institute, the frequency of exorbitant hail events in France is underestimated in current industry benchmarks, suggesting that adjustments to insurance risk assessment and pricing are neede...
Posted: Nov 23, 2022
Descartes Underwriting, an insurtech company specialising in corporate insurance solutions to address climate and emerging risks, has appointed Louis Bollaert as Chief Revenue Officer. Within this role, Bollaert will oversee expanding Descartes’ c...
Posted: Nov 23, 2022
Measured Analytics and Insurance, a data and analytics-driven cyber insurer, has announced the appointment of Vince McCarthy as its new President. Focusing on the company’s strategic growth, McCarthy will lead the executive team’s work...
Posted: Nov 23, 2022
A number of factors are leading to ever larger claims for the global shipping industry despite total losses having more than halved over the past decade and seeing a persistent long-term positive safety trend, according to an Allianz report. The A...
Posted: Nov 23, 2022
The Association of British Insurers (ABI) has published a new Blueprint which sets out a multi-year strategy and plan to improve diversity, equity and inclusion (DEI) across the insurance and long-term savings industry. According to the ABI, the n...
Posted: Nov 23, 2022
A new note from Goldman Sachs says that attractive returns within the industry are being driven by a hard market. The firm said that reinsurers have historically been a low-beta and defensive sector that outperformed in terms of uncertainty. This...
Posted: Nov 23, 2022
A new study from the Swiss Re Institute says that the insurance industry needs to adopt a new approach to cyber business amidst a changing landscape. The twenty-nine-page report, Cyber Insurance: Strengthening Resilience for the Digital Transforma...
Posted: Nov 22, 2022
Global climate risk solutions platform Arbol has announced that Matthew Gabin has joined the company as Chief Legal Officer and Deputy Chief Operating Officer (COO). Gabin is a veteran lawyer with extensive experience in parametric reinsurance, we...
Posted: Nov 22, 2022
Rated Bermuda, Cayman Islands and Barbados (BCIB) captive insurance companies have continued to outperform US commercial casualty peers, with a combined ratio approximately 13 percentage points better over the most recent five-year period, suggest...
Posted: Nov 22, 2022
Verisk Extreme Event Solutions (formerly known as AIR Worldwide) has appointed insurance expert, Eric Gesick, as Senior Vice President of Casualty Analytics, a position based in New Jersey. According to Dr. Jay Guin, Chief Research Officer and EVP...
Posted: Nov 22, 2022
Florida is the US state with most premiums in homeowners insurance lines, AM Best analysts have revealed. Despite being only the third more populous state, it generated $12.4 billion of homeowners direct premium in 2021. That is more than Californ...
Posted: Nov 22, 2022
The United Nation’s World Food Programme (WFP) and the World Bank have signed an agreement to scale up disaster risk protection financed by Germany and the UK for vulnerable communities and nations that are faced with catastrophic climate extremes...
Posted: Nov 22, 2022
Redaptive, a San Francisco-based Energy-as-a-Service provider of energy-saving and energy-generating equipment, has gained access to a $50 million credit facility from Rabobank, thanks to a credit insurance structure provided by Energetic Insuranc...
Posted: Nov 22, 2022
Pacific Life Re has announced the appointment of David Waters as new Director of Underwriting in its Europe Business Unit. In the new role, Waters will be responsible for helping manage external and internal risk, while developing a strong market...
Posted: Nov 22, 2022
As US inflation remains above target, the Swiss Re Institute expects the Fed will induce a recession in 2023 to avoid a de-anchoring of inflation expectations. In its report, the Institute states that the drivers of inflation persistence include a...
Posted: Nov 22, 2022