Reinsurance News
Global risk pools African Risk Capacity Limited (ARC Ltd.), CCRIF SPC (formerly The Caribbean Catastrophe Risk Insurance Facility) and Pacific Catastrophe Risk Insurance Company (PCRIC) have agreed to a partnership at the recent COP27 climate conf...
Posted: Nov 21, 2022
S&P Global Ratings suggest that the government’s announcement of its proposed change to Solvency II is likely to be neutral for the creditworthiness of rated insurers in the UK as it expects them to broadly maintain their capital positio...
Posted: Nov 21, 2022
Allianz Global Corporate & Specialty (AGCS) has brought William Mills onboard as its new global head of reinsurance. Mills is moving to the firm from Beazley, where he was group head of ceded reinsurance and third-party capital. According to h...
Posted: Nov 21, 2022
Legal & General Assurance Society Limited has agreed to a £400 million buy-in with the TT Group (1993) Pension Scheme, securing the benefits of circa 5,000 retirees and deferred members. The sponsoring company, TT Electronics plc, is a global...
Posted: Nov 21, 2022
QBE Insurance Group Limited expects to incur full-year 2022 catastrophe losses of around AUD 1.06 billion, which is above its catastrophe allowance for the year of AUD 962 million. The Australian insurer has released a trading update for the third...
Posted: Nov 21, 2022
Arch Insurance has appointed Sam Bradley to the role of senior cyber underwriter. Bradley will take on the role immediately, be based in London, and is set to report to Marcus Breese, head of cyber and technology E&O. He joins from Willis Towe...
Posted: Nov 21, 2022
Markel International has announced that it has moved to a larger office in Hong Kong and has appointed specialist underwriters in financial lines and marine to its experienced team. The new office upgrade signals the firms aim to develop and grow...
Posted: Nov 21, 2022
Rachel Conran is set to take over as Liberty Specialty Markets’ (LSM) new Chief Underwriting Officer (CUO) on January 1st, 2023. Based in Cologne, Germany, she will be responsible for underwriting performance across the business. The appoint...
Posted: Nov 21, 2022
AdvantageGo, a commercial re/insurance software provider and part of Coforge, has appointed Ian Summers as Global Business Leader. In his new role, Summers will be responsible for the strategic direction and the operations of the company and leadi...
Posted: Nov 21, 2022
According to a survey conducted by GlobalData, 41.4% of UK consumers are willing to pay more for an insurance policy from a provider with a good record of sustainability, with a further 10.2% sitting on the fence. Ben Carey-Evans, Senior Insurance...
Posted: Nov 21, 2022
In its latest market update, Legal & General Group (L&G) has reported that its global Pension Risk Transfer (PRT) business continues to perform strongly, as the firm secured new business wins in each the UK, US and Canada in the last few w...
Posted: Nov 21, 2022
A new report from Lloyd’s and WTW says that the risks associated with food chains around the world have increased as these chains have grown in size, volume, and complexity. The firm said that food and drink supply chains will play an essential pa...
Posted: Nov 21, 2022
Leading national specialty insurance brokerage and risk management firm, Risk Strategies, has acquired Wallace Specialty Insurance Group. Terms of the acquisition were not disclosed. Founded in 2012, Wallace Specialty was created to provide the de...
Posted: Nov 21, 2022
According to a recent Moody’s investor’s service report, net zero objectives require considerable organisational focus and investment in measuring carbon transition risk, which in turn puts insurers in a better position to manage it. T...
Posted: Nov 21, 2022
Charles Taylor Adjusting (CTA), an international loss adjusting business, has expanded its Natural Resources capability in Asia with the opening of a new office in Ho Chi Minh City, Vietnam. According to the announcement, this “strategic expansion...
Posted: Nov 21, 2022
AM Best has upgraded the Long-Term Issuer Credit Rating to “a+” from “a” and affirmed the Financial Strength Rating (FSR) of A of China Reinsurance (Group) Corporation (China Re) (China) and its subsidiaries. According to AM Best, China Re’s ratin...
Posted: Nov 21, 2022
The role that technology plays in the re/insurance industry is increasing and this is happening at a time when market participants are striving for greater efficiency, in an effort to both lower costs and remain relevant in an evolving sector. For...
Posted: Nov 18, 2022
Legal & General Retirement America (LGRA) has released its third quarter Pension Risk Transfer Monitor, reporting that it is expected to be the largest Q3 on record and the second largest in market history with $27 billion in transactions clos...
Posted: Nov 18, 2022
Agilicus, a cybersecurity company and Ridge Canada Cyber Solutions Inc. (RCCS), a managing general insurance agency, have announced their partnership to assist Canadian small to midsize businesses (SMB) qualify for and obtain cybersecurity insuran...
Posted: Nov 18, 2022
A new Sustainable Insurance Roadmap that looks to tackle climate change has been announced by California’s insurance commissioner and the United Nations’ Principles for Sustainable Insurance Initiative (PSI). The roadmap is to be concentrated in t...
Posted: Nov 18, 2022
MS Amlin has reported a net loss of £131 million for the first half of the financial year, down from a profit of £33 million in the prior year period, as the carrier estimated its Hurricane Ian loss at £157 million. Net premiums written for H122 w...
Posted: Nov 18, 2022
The specialist Lloyd’s insurance and reinsurance marketplace expects claims related to Hurricane Ian of up to $3 billion, net of reinsurance, based on third-quarter data provided by its syndicates. Lloyd’s has released an estimated ran...
Posted: Nov 18, 2022
The addition of eleven new re/insurers and investors added in the third quarter have brought the number of unique participants in the Freddie Mac Single-Family Credit Risk Transfer (CRT) program this year to more than 175. Single-Family CRT progra...
Posted: Nov 18, 2022
In Lemonade’s Q3 earnings call, Co-Founder and Co-CEO, Shai Wininger, and CFO, Tim Bixby, outlined the firm’s approach to the current hardening reinsurance market, alongside how it will keep pace with high inflation. Wininger suggested...
Posted: Nov 18, 2022
Tokio Marine HCC has reported a 35.6% increase in net premiums written in its Q2 2022 financial year results to JPY 367.5 billion ($2.63bn). Net premiums earned saw an even larger increase year over year of 46.8%, totalling JPY 327.4 billion ($2.3...
Posted: Nov 18, 2022