Reinsurance News
Insurance and other risk transfer and financing mechanisms will become increasingly important in managing catastrophic risk as countries transition to more climate-resilient economies as Egypt considers a new NatCat pool, according to experts. At...
Posted: Nov 14, 2022
American Financial Group, an insurance holding company, has announced the promotion of Mark A. Weiss to Senior Vice President and General Counsel of American Financial Group, Inc., effective December 1, 2022. Weiss will succeed Vito Peraino as he...
Posted: Nov 14, 2022
The Casualty Actuarial Society (CAS) has appointed Roosevelt Mosley as its new president. The firm said that Mosley began his term as the president of the CAS on 9 November in conjunction with the 2022 CAS Annual Meeting. Mosley earned his CAS fel...
Posted: Nov 14, 2022
Marsh has appointed Michael Kolodner as its global renewable energy leader at Marsh Specialty. The firm said that Kolodner, who rejoined Marsh in 2020 as US power and renewable energy leader, will maintain his current responsibilities, while also...
Posted: Nov 14, 2022
Andy Bord, Flood Re’s CEO, has announced that leading UK insurers, Covea, Hiscox and RSA, have joined the Build Back Better scheme. Launched by Flood Re back in April this year, the Build Back Better scheme is a joint initiative between the UK ins...
Posted: Nov 14, 2022
Brazilian reinsurance company IRB Brasil Re has reported a net loss of R$299 million for the third quarter of 2022, compared to a net loss of R$156 million from the prior year quarter. The company’s net loss for the year-to-date currently stands a...
Posted: Nov 14, 2022
Cyber insurer Resilience, has appointed George Kotsiopoulos as EVP, Global Head of Distribution and Strategy. He succeeds Tom Gamble who passed away earlier this year. In his new role, Kotsiopoulos will focus on both distribution and strategy as t...
Posted: Nov 14, 2022
Ryan Specialty, a products and solutions provider for insurance brokers, has announced the appointment of Tim Anders as Executive Vice President (EVP) of its Underwriting Managers’ National Specialty Programs (NSP) practice. In his new role, Ander...
Posted: Nov 14, 2022
Talanx Group, the parent company of Hannover Re, has released its results for Q3 2022, reporting that gross premiums rose 18.5%, with group net income up 8.6%. The firm said that it was fully on track to meet its annual targets. It added that its...
Posted: Nov 14, 2022
Global insurer, Chubb has promoted Ben Howell to Regional Head of Consumer, APAC for its general insurance business in the Asia Pacific region. Currently, Howell serves as Regional Head of Accident & Health (A&H) for Asia Pacific at Chubb....
Posted: Nov 14, 2022
Aston Lark Ireland, a Howden company, has announced the acquisition of William Lyons Insurances and wholly owned subsidiary J.C. Daly Insurances. In the announcement the broker said it had agreed the terms of the acquisition and added that it is s...
Posted: Nov 14, 2022
Since its launch by the United Nations (UN), the ESG (Environmental, Social and Governance) movement has grown into a global phenomenon that is reshaping the asset management and broader business landscape. According to a recent report by The Gene...
Posted: Nov 14, 2022
PartnerRe has appointed Reuben Jeffery and Sylvestre Frezal to its board of directors. Jeffery is the former president and chief executive officer of Rockefeller & Co. He was also employeed at Goldman, Sachs & Co., where he was managing di...
Posted: Nov 14, 2022
BMS Re, the specialty reinsurance broker, has announced it has acted as broker and advisor for a bespoke Loss Portfolio Transfer (LPT) transaction on behalf of Conifer Holdings, Inc., a specialty insurance holding company. According to the broker,...
Posted: Nov 14, 2022
During COP27, the Global Resilience Index Initiative showcased key milestones in its development towards an open, standard set of climate metrics and data to measure risks to communities, infrastructure and ecosystems, with the launch of the GRII...
Posted: Nov 12, 2022
According to a report from re/insurance broker Gallagher Re, cyber models have done well to keep pace with the cyber insurance market in recent years, however, the ever-changing size and scope of the industry means that claims are often of a vecto...
Posted: Nov 11, 2022
The Insurance Development Forum and the United Nations Development Programme, along with the German Government and the Lagos State Government in Nigeria, have launched a €1.6 million project to develop a sub-sovereign risk transfer scheme to provi...
Posted: Nov 11, 2022
Florida-based insurtech HCI Group, Inc.’s Chairman and Chief Executive Officer (CEO), Paresh Patel, expects there to be sufficient reinsurance available for the firm’s needs in 2023, despite a reduction in supply in the State of Florid...
Posted: Nov 11, 2022
Susan Neely has been elected as the Global Federation of Insurance Associations (GFIA) new president. Additionally, during its general assembly, the GFIA has also made new appointments to its executive committee. Neely, who is president and CEO of...
Posted: Nov 11, 2022
International specialty insurance firm, Ryan Specialty Group has reported $412 million revenue for the third quarter of 2022, representing 17% year-over-year growth compared to $352.8 million in the third quarter of 2021. Net income increased to $...
Posted: Nov 11, 2022
Home insurer Hippo Holdings Inc. has announced total generated premium (TGP) growth of 36%, year-on-year, to $219 million in third quarter of 2022, pushing the firm’s revenue up 44% to $31 million. Alongside the rise in TGP and revenue for the qua...
Posted: Nov 11, 2022
Insurer IGI has released its results for the first nine months of 2022, showing broad increases across all financial measures. The firm said that gross written premiums hit $120.6m in Q3 2022, up from $115.3m in Q1 2021. It also reported an increa...
Posted: Nov 11, 2022
Global insurance firm AIG has signed a five-year employment contract with its president, chief executive officer, and board chairman Peter Zaffino. The firm said in a statement that it would extend Zaffino’s employment with the company until Novem...
Posted: Nov 11, 2022
Munich Re, one of the world’s largest reinsurance companies, has lowered its stake in London-based insurer Admiral to roughly 1.8%. The German reinsurer has sold a further 7.4 million shares in Admiral in a placing at 2,023p per share. It co...
Posted: Nov 11, 2022
The country of Belize is set to receive a payout of $175,000 after Category 1 Hurricane Lisa triggered its parametric policy under the Mesoamerican Reef (MAR) Insurance Programme, reports insurance and reinsurance broker WTW. Launched in June of l...
Posted: Nov 11, 2022