Reinsurance News
Marsh McLennan Agency, a subsidiary of Marsh, has announced the acquisition of Focus Insurance, a personal insurance brokerage firm based in Houston, Texas. All Focus employees, including Vice President at Focus Mickie Comiskey, will be joining Ma...
Posted: Nov 08, 2022
Markel International, a subsidiary of the Markel Corporation, has announced three senior appointments at its Dubai office, further supporting its growth strategy as the organisation continues its expansion in trade credit, energy and marine market...
Posted: Nov 08, 2022
With the possibility of high yield default rates not seen since the global financial crisis, firms face weakening demand amidst a higher interest rate environment, with zombie companies the most exposed, suggest analysts at the Swiss Re Institute....
Posted: Nov 07, 2022
MS Amlin Underwriting Limited has appointed Clare Constable as Head of Claims. Her role is effective from November 21, 2022, and she will report Alberto Verga, Chief Operating Officer. Overall, Constable brings more than 20 years of specialty and...
Posted: Nov 07, 2022
WTW has said it has appointed Michael Holt to the role of associate director of client relationship management for aerospace. Holt is coming back into the WTW fold, re-joining the firm from McGill, where he served as Partner, Aviation and Aerospac...
Posted: Nov 07, 2022
Bermuda-based re/insurer Axis Capital has announced the appointment of Miranda Hunter as Head of Investor Relations. Hunter has more than 15 years of re/insurance and financial industry experience, having held senior roles at various global firms....
Posted: Nov 07, 2022
With a number of ships trapped in Ukraine due to the country’s conflict with Russia, the marine market is expected to face a large number of “total loss” claims early in 2023, according to a recent report. Ukrainian ports have been closed for vess...
Posted: Nov 07, 2022
White Mountains has released its third-quarter results for 2022, saying that its Ark partner firm saw gross written premiums rise $54m between Q3 2021 and Q3 2022. According to the firm, Ark reported gross written premiums of $216m and $1,253m, ne...
Posted: Nov 07, 2022
A recent report from Risk Strategies suggests property insurance buyers with locations exposed to climate change-related events will see significant reductions in coverage capacity, as well as higher deductibles and pricing well into 2023 followin...
Posted: Nov 07, 2022
Chubb has announced that its global integration platform, Chubb Studio, has introduced new features that can embed insurance into the digital environments of its distribution partners more easily. The platform’s three new features provide Ch...
Posted: Nov 07, 2022
Generali’s Portuguese entity Tranquilidade has entered into a long-term agreement with CTT Group, the Portuguese postal services group, for the distribution of Life and P&C policies, with the partnership being reinforced by the acquisition of...
Posted: Nov 07, 2022
Berkshire Hathaway Specialty Insurance (BHSI) has promoted Katharina Rütz to head of commercial lines for E&P in Germany. The firm said that Rütz was previously senior underwriter for D&O at the firm and will continue to be based in Cologn...
Posted: Nov 07, 2022
Avolon, an aircraft leasing company based in Dublin, has taken legal action against Lloyds Insurance in the Irish High court over losses linked to Russia-Ukraine war, according to a Reuters report. Following European Union sanctions that forced th...
Posted: Nov 07, 2022
Switzerland headquartered insurer Zurich has reached a settlement with multinational food and beverage company Mondelez International to close a $100 million lawsuit brought against the insurer for refusing to pay out on cyber claims related to th...
Posted: Nov 07, 2022
Australian insurer Suncorp has reported a cost of between AUD 350 million (USD 225m) to AUD 410 million (USD 265m) from five natural hazard events across Australia and New Zealand during the opening quarter of this financial year, suggesting the e...
Posted: Nov 07, 2022
AM Best is revising its outlook for the German non-life insurance segment to Negative from Stable, mainly driven by uncertainty and significant changes in the operating environment. Factors that support the Negative outlook according to the rating...
Posted: Nov 07, 2022
WTW has said that it is appointing Oliver Scarr to be its new head of cargo in Asia in its marine team within its corporate risk and broking business. The firm said in a statement that Scarr will be based in Singapore and report to Lewis Hart, hea...
Posted: Nov 07, 2022
Insurers’ underwriting and investment strategies in the coming years will be increasingly influenced by ESG considerations, suggests a report from Fitch Ratings. P&C insurer’s large weather-related losses highlight the growing environmen...
Posted: Nov 07, 2022
Jamaica is set to become the first country in CARICOM with microinsurance legislation with a bill to be tabled in 2023. This was announced at the International Conference on Inclusive Insurance (ICII) which took place between October 24th and 28th...
Posted: Nov 07, 2022
According to Risk Strategies State of the Market update, the cyber insurance market is beginning to stabilise after years of steep rate increases, though insurers will continue to be on high alert through the remainder of the year and into 2023. T...
Posted: Nov 07, 2022
International specialty insurance firm, Ryan Specialty has announced it has acquired certain assets of Centurion Liability Insurance Services, LLC. The terms of the transaction have not been disclosed Centurion is a professional lines wholesale in...
Posted: Nov 07, 2022
Specialty Program Group LLC (SPG), a leading operator of specialty insurance brokerages and underwriting facilities, has acquired the assets of Catapult Insurance Solutions. Catapult is a privately held managing general insurance agency and wholes...
Posted: Nov 07, 2022
Warren Buffett-run holding company and conglomerate, Berkshire Hathaway, has reported pre-tax losses related to Hurricane Ian of $3.4 billion for the third quarter of 2022, as the company’s insurance and reinsurance units fell to an underwri...
Posted: Nov 05, 2022
A new report by Swiss Re Institute has warned of the risk posed to insurance and reinsurance companies by the prospect of inflationary recessions and financial instability. Analysts note that insurers and banks alike are finding it difficult to re...
Posted: Nov 04, 2022
Global advisory, broking and solutions company, WTW, has announced the appointment of Mark Vila as the Head of Corporate Risk & Broking for the US Midwest region, replacing Scot Housh, who plans to retire at the end of 2022. Vila currently ser...
Posted: Nov 04, 2022