Reinsurance News
Copper.co, a provider of institutional digital asset custody and trading solutions, has secured $500 million of insurance protection for digital assets in cold storage from a panel of carriers led by specialty insurer and reinsurer, Canopius, and...
Posted: Nov 10, 2022
Financial services holding company Ambac has announced that it has acquired majority stakes in both All Trans Risk Solutions, LLC and Capacity Marine Corporation. All Trans Risk Solutions operates as a full service managing general underwriter (MG...
Posted: Nov 10, 2022
Insurance provider SageSure and personal lines insurance agency Goosehead are to partner up and launch a reciprocal exchange called Elevate. The Texas-domiciled Elevate will look to protect homeowners in coastal stats. It is exclusively available...
Posted: Nov 10, 2022
International loss adjusting business, Charles Taylor Adjusting (CTA) has announced the opening of a new office in Vietnam, expanding its Natural Resources capability in Asia. According to the announcement, this “strategic expansion” will allow CT...
Posted: Nov 10, 2022
Kin Insurance has reported a gross written premium (GWP) of $47.6 million in the third quarter of 2022, a 72% increase compared to $27.7 million from the third quarter of 2021. This now brings the company’s GWP year-to-date total to $172.5 million...
Posted: Nov 09, 2022
Maiden Holdings Ltd has reported a net loss of $8.2 million for the third quarter of 2022 compared to a net income of $2.9 million from the prior year quarter. Non-GAAP operating loss was $21.1 million for the quarter, compared to a Non-GAAP opera...
Posted: Nov 09, 2022
Everest Reinsurance, the reinsurance division of Everest Re Group, has announced the appointment of David Mann as Vice President, Head of Casualty for Everest Reinsurance (Bermuda) for the UK Branch. In his new role, Mann will lead the growth of t...
Posted: Nov 09, 2022
Bermuda-based specialty P&C insurer Argo continues to butt heads with activist investor Capital Returns Master, Ltd. as they both seek to sway shareholders ahead of a key vote on the composition of Argo’s Board of Directors at its annual...
Posted: Nov 09, 2022
Specialty insurer and reinsurer Ascot has appointed Jon Mosby to be its new senior vice president and head of inland marine. The firm said in a statement that Mosby will report to Tom Nasso, executive vice president and head of US marine, and will...
Posted: Nov 09, 2022
Specialist re/insurance broker McGill and Partners has appointed Casey Petersen Partner and Head of the US Casualty team. In his new role, Petersen will be responsible for building out and maintaining the US client base for large casualty; includi...
Posted: Nov 09, 2022
G20 business leaders are more focused on short-term economic concerns – like rapid inflation, debt crises, and the cost of living crisis – than on environmental and cyber risks, according to a recent survey. These findings were publish...
Posted: Nov 09, 2022
Global professional services firm, Aon, has acquired ERN (Evaluación de Riesgos Naturales), a Mexico-based leader in risk assessment modeling. The acquisition will help drive and expand Aon’s catastrophe modeling and consultancy capabilities in La...
Posted: Nov 09, 2022
Germany’s Talanx Group, the parent of reinsurer Hannover Re and HDI Global, has announced Jens Warkentin will join Talanx AG’s Board of Management, becoming head of the Retail Germany Division and CEO of HDI Deutschland AG, as Dr Christopher Lohma...
Posted: Nov 09, 2022
Corebridge Financial has reported a net income of $2.4 billion in Q3 following the completion of its initial public offering in September, in which parent company AIG sold approximately 12.4% of its common stock. This compares to a net income of $...
Posted: Nov 09, 2022
HCI Group has reported a net loss of $51.5 million in the third quarter of 2022, compared to a net loss of $4.9 million from the third quarter of 2021. At the same time, the company’s net loss for the year so far currently stands at $57.3 million...
Posted: Nov 09, 2022
Brussels-headquartered multinational insurer Ageas, has reported a group net result of €111 million for the third quarter of 2022. At the same time, for the year so far, Ageas’ net result sits at €567 million. The company specified that both of th...
Posted: Nov 09, 2022
Aviva has reported general Insurance gross written premiums are up 10% to £7.2bn in the third quarter of 2022, compared to £6.5bn for the same quarter last year. The firm notes UK GWP are up 7% to £3.9bn and Canada GWP are up 8% at constant curren...
Posted: Nov 09, 2022
A letter from Lemonade to its shareholders says that in-force premiums (IFP) with the firm have risen 76% year on year to reach $609m in Q3 2022. The insurer said that (IFP) stood at $347m in Q3 2021 and at $189m in Q3 2020. Gross earned premiums...
Posted: Nov 09, 2022
Marsh McLennan (MMC) has entered into the Atlantic Council’s Arsht-Rockefeller Foundation Resilience Center (Arsht-Rock) to help mobilise the insurance and reinsurance sectors in support of the UN’s Race to Resilience campaign for climate resilien...
Posted: Nov 09, 2022
Heritage has reported its Q3 2022 results, saying that it saw a net loss in the period of $48.2m, compared to one of $16.4m in the same three months in 2021. Despite the losses, the firm still said that its gross written premiums had gone up 11.1%...
Posted: Nov 09, 2022
According to a joint report from the Institute and Faculty of Actuaries and the Climate Crisis Advisory Group, climate change has been underestimated and is progressing more quickly than anticipated, with severe impacts already being felt by milli...
Posted: Nov 09, 2022
Conduit Re says its Q3 2022 results show strong premium income growth, with balance sheet strength and underwriting focus putting it in ‘an excellent position’ in ‘exceptional’ market conditions. The firm said in a statement that it had seen $600....
Posted: Nov 09, 2022
Global reinsurer SCOR has reported a net loss of €509 million for the first nine months of 2022, as natural catastrophe claims increased to €907 million while the firm took a number of meaningful actions on its balance sheet during the period, inc...
Posted: Nov 09, 2022
Substantial increases in interest rates globally have significantly affected the balance sheets of some insurers this year, though the impact will depend on the accounting methods employed, suggests AM Best. The rating agency notes that insurers i...
Posted: Nov 09, 2022
Solvency capital requirements for UK insurers may be relaxed in the near future following the September 2022 mini budget, but according to GlobalData, findings have shown that leading UK insurers are not coming close to the existing limits. Global...
Posted: Nov 09, 2022