Reinsurance News
Insurtech Bluezone has secured its first-choice global reinsurer to partner with as it remains on track to launch its first product in the first quarter of 2023. Following a successful £1.5 million seed investment round led by Insurtech Gateway ea...
Posted: Nov 17, 2022
Brazilian reinsurer IRB Brasil Re has announced the resignation of Raphael de Carvalho as its Chief Executive Officer (CEO) a little over a year on from his appointment. In an extraordinary board meeting held on November 16th, 2022, the firm’...
Posted: Nov 17, 2022
The insurance industry is forecasted to return to premium growth of 2.1% annually on average in real terms in 2023 and 2024 following total global premiums falling by an estimated 0.2% in real terms in 2022 due to inflation, which remains the key...
Posted: Nov 17, 2022
MS Amlin has said it is laying out a three-year sustainability roadmap in order to embed ESG into its business operations. According to the firm, the Sustainability Strategy sets out the steps which the company will take over the next 36 months an...
Posted: Nov 17, 2022
Ryan Specialty Transactional Risks International has opened an office in Copenhagen, Denmark, becoming the business’ fourth office. Transactional Risks International is a part of Ryan Specialty’s Underwriting Managers platform and specialise...
Posted: Nov 17, 2022
Ryan Specialty MGU, SUITELIFE Underwriting Managers, has appointed Patrick S. McCahill as Chief Underwriting Officer. In addition to his CUO responsibilities, McCahill will also be responsible for broadening the product offerings available through...
Posted: Nov 17, 2022
The UK’s Pension Insurance Corporation (PIC) is predicting a pension risk transfer (PRT) market of £30bn over the next year. In its update on the market following the recent volatility, the PIC said that net business premiums during 2022 have been...
Posted: Nov 17, 2022
US re/insurer Markel Corporation has announced that Thomas S. Gayner, currently Co-Chief Executive Officer (CEO) at the company, is set to take over as its sole CEO upon the retirement of Co-CEO Richard R. Whitt on January 1st, 2023. Also effectiv...
Posted: Nov 17, 2022
Catastrophe risk modeller RMS has pegged total private market U.S. insured losses from Hurricane Nicole at less than $2 billion, with a best estimate of $1.6 billion. The estimates from RMS reflect insured wind, storm surge, and inland flooding im...
Posted: Nov 17, 2022
Goldman Sachs has said that it is estimating a +35% increase in global property catastrophe reinsurance rates-on-line (RoL). This would, said the firm, be the strongest RoL increase since the early 1990s (+65% in 1993), which it said would surpass...
Posted: Nov 17, 2022
Climate analytics technology company, One Concern, has appointed Tim Kinsella as Executive Director, Sales – P&C Insurance. Kinsella joins from RMS, where he served for over three years as a Senior Client Director. Before this, Kinsella...
Posted: Nov 17, 2022
Insurance has a crucial role in anticipating, identifying, and managing climate-related risks in Asia, says Anusha Thavarajah, Regional Chief Executive Officer, Allianz Asia Pacific. Temperatures are rising two times faster in Asia than in global...
Posted: Nov 17, 2022
One80 Intermediaries, a specialty insurance broker, has acquired Comprehensive Planning – Goodman LLC. (CPG), an independent brokerage and managing general agency specialising in life insurance. According to the announcement, this move marks One80...
Posted: Nov 17, 2022
Global specialty (re)insurer Canopius has announced that it will be using software firm Allphins’s solution for treaty energy. The firms said in a mutual statement that the new software would allow it to digitise unstructured submission data, iden...
Posted: Nov 17, 2022
According to GlobalData, Singapore’s general insurance industry is set to grow at a compound annual growth rate (CAGR) of 7.2% from SGD4.7bn ($3.5bn) in 2021 to SGD6.6bn ($5.1bn) in 2026, in terms of gross written premium (GWP). Analysts noted tha...
Posted: Nov 17, 2022
With the January reinsurance renewals just a couple of months away, there are a number of different factors that could impact property renewals. The hard market has been gaining momentum and been sent into overdrive by Hurricane Ian. Added into th...
Posted: Nov 16, 2022
The Global Risk Modelling Alliance (GRMA) has been selected as Key Resource for the Global Shield Initiative, an initiative for pre-arranged financial support designed to be deployed during climate disasters that was launched at COP27 earlier this...
Posted: Nov 16, 2022
Bermuda-based specialty P&C insurer Argo has addressed another letter to shareholders defending its ongoing strategic review process amid mounting pressure from activist investor Capital Returns and its allies, who are seeking to replace two d...
Posted: Nov 16, 2022
Bermuda-based re/insurer Everest Re Group, Ltd., has announced the appointment of Hazel McNeilage as an independent, non-executive member of its Board of Directors, effective immediately. McNeilage has 40 years of global financial services experie...
Posted: Nov 16, 2022
A recent report from AM Best suggests that only 30% of Florida residents have insurance through the National Flood Insurance Program, down from 41% when Hurricane Irma struck in 2017, while private carriers increased their total flood insurance pr...
Posted: Nov 16, 2022
Specialty reinsurance broker, BMS Re, has appointed Christopher Larson as managing director, co-head of casualty broking, effective immediately. Within this role, Larson will be based in New York, where he will report to Sean Ryan, deputy chief ex...
Posted: Nov 16, 2022
As price momentum vs claims inflation remains the key focus at 9M22 results, Goldman Sachs analysts have suggested that pricing is currently above claims inflation, which should lead to profitability recovery of the insurance industry in 2023. In...
Posted: Nov 16, 2022
Re/insurance broking firm, Arthur J. Gallagher & Co (AJG)., has announced the renewal of its equity financing program for acquisitions. The firm has registered seven million shares for issuance in connection with brokerage and risk management...
Posted: Nov 16, 2022
According to Fitch Ratings, the ratings for its midsize mutual life peer group continue to be supported by higher levels of capital relative to the broader life industry, reflecting the unique characteristics of mutual ownership. The rating agency...
Posted: Nov 16, 2022
Broking and solutions company, WTW, has helped to create the United Nations Children’s Fund’s (UNICEF) new initiative to provide sustainable disaster and climate change protection to meet the specific needs of vulnerable children. The ground-break...
Posted: Nov 16, 2022