Reinsurance News
AXA XL, the property & casualty and specialty risk division of AXA, has added Cyber Suite, a cyber and security insurance coverage as an option to its Lawyers’ Errors & Omissions (E&O) insurance program. According to the announce...
Posted: Nov 09, 2022
Toronto-based cyber insurance specialist BOXX Insurance has acquired cyber intelligence platform Templarbit. Terms of the deal were not disclosed, but BOXX said it gave the firm ‘additional momentum’ to pursue its vision of ‘making the world a dig...
Posted: Nov 09, 2022
AM Trust Financial Services, a global property & casualty insurer, has acquired Contractor Managing General Insurance Agency, Inc. (CMGIA). CMGIA is a California-based MGA that offers surety bonds to small to mid-sized contractors. The company...
Posted: Nov 09, 2022
The Insurance Council of Australia has released a paper outlining the way insurers can achieve net zero emissions for their operations by 2030 and across the entirety of insurers’ activities by 2050. The roadmap, Towards a Net Zero and Resilient F...
Posted: Nov 09, 2022
As the market heads towards the important January 1st, 2023, reinsurance renewals, Christoph Jurecka, Chief Financial Officer (CFO) of German reinsurance company, Munich Re, is optimistic that further rate hardening will not be restricted to loss-...
Posted: Nov 08, 2022
Global Indemnity Group has reported a net income of $23.6 million for the third quarter of 2022, compared to a net loss of $7.8 million from the third quarter of 2021. Gross written premiums rose to $175.8 million from $174.3 million in 2021. Gros...
Posted: Nov 08, 2022
Bermuda-based specialty re/insurer Hamilton Insurance Group has announced that Alex Baker has been promoted to the role of Group Chief Risk Officer (CRO), effective January 1st, 2023. He will replace outgoing CRO Pete Skerlj, who is leaving the co...
Posted: Nov 08, 2022
Global advisory and broking solutions company, WTW, has appointed three new senior hires to its North America Facultative team. Ivan Breen has been appointed Head of North America Facultative, Chris Lynam as Head of Property, and Andy Murray as He...
Posted: Nov 08, 2022
Bermuda-based re/insurer Vantage has announced the hiring and appointment of Peter Skerlj as its Chief Risk Officer. Skerlj will, said a statement, begin his new role in February, be based in Bermuda, and report to Greg Hendrick, the firm’s chief...
Posted: Nov 08, 2022
Specialist re/insurer Apollo is going into partnership with Envelop Risk on cyber reinsurance business. Under the partnership, the latter will underwrite a new class of cyber reinsurance business within Apollo Syndicate 1971, with effect from the...
Posted: Nov 08, 2022
At COP27, the UN conference in Sharm El Sheikh, the Global Federation of Insurance Associations has called on parties to prioritise the building of resilience to the impacts of climate change to prevent loss of life and reduce economic losses from...
Posted: Nov 08, 2022
Specialty MGA, Optio Group, has announced the appointment of Victoria Barrett as head of financial lines with immediate effect. She will be based in London and report to executive chairman Matthew Fosh. In her new role, Barrett will lead and build...
Posted: Nov 08, 2022
Conifer Holdings, a specialty insurance holding company, has secured $20 million of adverse development cover for accident years 2019 and prior, after closing a Loss Portfolio Transfer (LPT) reinsurance agreement with Fleming Reinsurance Ltd. Unde...
Posted: Nov 08, 2022
The Bermuda International Long Term Insurers and Reinsurers (BILTIR) has appointed Christine Patton as Executive Director. At the same time, BILTIR has also appointed Curtis L. Dickinson as Executive Advisor. Patton will join BILTIR on November 21...
Posted: Nov 08, 2022
Munich Re’s group CFO Christoph Jurecka revealed this morning that the reinsurance company is already expecting to feel a positive effect from its investment joint-venture with rival Hannover Re, as soon as during the fourth-quarter. Reinsur...
Posted: Nov 08, 2022
Independent insurance distribution firm BRP Group has reported a net loss of $46.7 million for the third quarter of 2022, worsening nearly twofold from the loss of $24.6 million that it reported for the same period last year. This includes an oper...
Posted: Nov 08, 2022
The London Market Group (LMG) has announced that Sean McGovern, Chief Executive Officer, UK & Lloyd’s, AXA XL, will become its next Chair, taking up the role on January 1st, 2023. Matthew Moore, Executive Vice President and President of Underw...
Posted: Nov 08, 2022
AXA XL, the property & casualty and specialty risk division of AXA, has announced the appointment of Stephen White as Alternative Risk and Captives Leader for Canada. In his new role, based in Toronto, White will oversee the continued growth o...
Posted: Nov 08, 2022
Argo Group has released its Q3 results, saying that net income dropped to -$51.4m from $19.8m in the same period in 2021. The firm said in its earnings release that gross written premiums had also fallen in this period from $875.6m to $750.9m, wit...
Posted: Nov 08, 2022
Global credit rating agency AM Best has announced that it is maintaining its negative outlook on the German life insurance segment. According to the agency this decision is mainly due to potential for lower new business growth driven by uncertain...
Posted: Nov 08, 2022
Insurance Europe has said that the continent’s insurers and reinsurers are still willing to play their ‘important role’ in tackling climate change. In putting out this statement just before COP27, the body said that climate change had been a key p...
Posted: Nov 08, 2022
McGill and Partners, Miller Insurance and Ardonagh Specialty Holdings (Bermuda) have become members of the Worldwide Broker Network (WBN). With these additions, the Network expands into the reinsurance and wholesale space. WBN also welcomes Unisur...
Posted: Nov 08, 2022
Global reinsurer Munich Re has reported profit of €527 million and €1.9 billion for the third quarter and first nine months of 2022, respectively, despite a rise in major losses within property and casualty (P&C) reinsurance on the back of Hur...
Posted: Nov 08, 2022
Zurich Insurance Group has launched Zurich eXchange, a next generation global Application Programming Interface (API) marketplace. According to the firm this move marks the next chapter of Zurich’s digital transformation journey. Zurich eXchange w...
Posted: Nov 08, 2022
Non-life premiums in Italy rose by 6% during the first half of 2022, according to data from Fitch Ratings, owing to strong growth in non-motor lines. Analysts note that Italian insurers have been increasing their exposure to non-motor in recent ye...
Posted: Nov 08, 2022