Reinsurance News
Monument Re’s Isle of Man subsidiary, Monument International Life Assurance Company Limited (MILAC) has completed its acquisition of the closed book portfolio of Zurich International Life Limited’s (ZILL) Singapore long term life insurance busines...
Posted: Nov 04, 2022
Horace Mann Educators Corporation, an insurance and retirement solutions company for US educators and school employees, has reported a net income of $14 million for the third quarter of 2022, a 14.7% decrease from last years $16.3 million. The com...
Posted: Nov 04, 2022
Earlier this week, Stuart Harbour, Chief Financial Officer (CFO) of the Texas Windstorm Insurance Association (TWIA), presented preliminary reinsurance projections to the Board, which show that the entity could purchase significantly more reinsura...
Posted: Nov 04, 2022
Broker firm McGriff, has announced the appointment of Danielle Ross as Head of Construction – Risk Management in its new National Construction – Risk Management practice, and Dana Moriarity as Casualty Leader for the National Construction Risk Man...
Posted: Nov 04, 2022
Given the declining investment yields of the past decade, US property and casualty (P&C) reinsurers’ investment allocations during this period have shifted to more riskier assets such as lower-rated and private placement bonds, according to AM...
Posted: Nov 04, 2022
Gallagher has announced that it has acquired Doyle Mahon Insurances, further augmenting its presence in Ireland. The news follows Gallagher’s acquisition of Innovu in June this year, which it has now fully integrated and is being rebranded to Gall...
Posted: Nov 04, 2022
Independent Lloyd’s broker Tysers has bolstered its team across the Middle East and North Africa (MENA) region with the addition of Souvik Goswami as Director, Reinsurance to its Dubai office. Goswami joins Tysers from Ed Broking where he was resp...
Posted: Nov 04, 2022
Specialty insurer Trisura Group has reported $644.8 million of gross premiums written in the third quarter of 2022, an increase of 59.3% compared to $404.7 million from the prior year quarter, thanks to sustained growth in Canada and expansion in...
Posted: Nov 04, 2022
Insurers have paid or reserved to pay $13.9 billion on all types of Hurricane Ida-related claims in Louisiana, according to Insurance Commissioner Jim Donelon. Policyholders have filed 478,417 claims of all types from Hurricane Ida as of September...
Posted: Nov 04, 2022
AIG has said that Paola Bergamaschi is to become a director of the company following an election by the firm’s board of directors. Bergamaschi’s appointment is set to begin at the start of December. In addition, John G. Rice, who joined the Board...
Posted: Nov 04, 2022
Fairfax Financial Holdings says it saw a net loss of $75.1m in Q3 2022 against net earnings of $462.4m in the same period in 2021. However, gross written premiums for the company in Q3 2022 reached $6,922.9m, up from $5,970.0m in Q3 2021. The firm...
Posted: Nov 04, 2022
According to a recent Risk & Resilience research report from Beazley, Singapore business is more worried about risk and less resilient than its global peers. The report revealed that business leaders in Singapore display an admirable respect f...
Posted: Nov 04, 2022
Reinsurance Group of America (RGA) is reporting that its net premiums in Q3 2022 grew to $3,247m from $3,094m in the same quarter in the preceding year. The firm said in a statement accompanying its latest figures that net income to its shareholde...
Posted: Nov 04, 2022
Obsidian Insurance Group has announced the introduction of a Program Analytical Review (PAR) data analytics tool, that will be offered by Obsidian to its managing general agents (MGAs), reinsurers and reinsurance brokers. The level of detail and a...
Posted: Nov 04, 2022
Bermuda-based re/insurer Everest Re Group, Ltd. has unveiled a refreshed brand, with a modernised logo and visual identity it says reflects its positioning and commitment to underwrite opportunity for colleagues, customers, shareholders, and commu...
Posted: Nov 04, 2022
Kin Insurance, a US insurtech focused on home insurance, has announced several leadership appointments as the company enters its next phase of growth, including Jerry Fadden, CFO; Jessica Jacob, CLO; Effie Kyroudis, CHRO; and Pete Tiwari, SVP of P...
Posted: Nov 04, 2022
Global business insolvencies are expected to rise +10% in 2022 and +19% in 2023, a significant rebound after two years of decline, according to Allianz Trade. The insurer noted that this may bring global insolvencies back above their pre-pandemic...
Posted: Nov 04, 2022
B.P. Marsh has appointed Rupert Villers as a Non-Executive Director on the Board of Denison and Partners. The appointment is subject to the customary regulatory approval. Villers brings over four decades of experience in the London Insurance Marke...
Posted: Nov 04, 2022
According to an S&P Global Ratings report based on analysis of 15 Asia-Pacific reinsurers, slower growth and subdued underwriting margins signal increasing downside risks for the sector. The report observes that Asia-Pacific (APAC) reinsurers&...
Posted: Nov 04, 2022
Commercial insurance broker based in Tennessee, Bradley Insurance Agency, has been acquired by Marsh McLennan Agency (MMA), a subsidiary of Marsh. The terms of the acquisition have not been disclosed. According to the announcement, all Bradley Ins...
Posted: Nov 04, 2022
Rating agency AM Best has announced that it is maintaining its negative market segment outlook on the Indonesia non-life insurance segment citing challenges in credit and motor insurance ongoing macroeconomic uncertainties. In a new Best Market se...
Posted: Nov 04, 2022
Analysts at Aon have reported that insurers and reinsurers in the Canadian market are increasingly to turning to the alternative capital markets to navigate challenging conditions. The broker notes that 2021 ended with positive results for the Can...
Posted: Nov 03, 2022
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance’s Global Risk Solutions division, has appointed Martin Vince to the role of Head of Broker Management, effective immediately. Within this role, Vince will report to Mark Stephenson,...
Posted: Nov 03, 2022
Re/insurance broking firm, Arthur J. Gallagher has completed its acquisition of Buffalo, New York-based M&T Insurance Agency, Inc. (MTIA), an indirect subsidiary of M&T Bank Corporation. Terms of the transaction were not disclosed. Last mo...
Posted: Nov 03, 2022
Specialty insurance MGA, Corvus Insurance has announced it has entered into a multi-year partnership with The Travelers Companies, Inc., a provider of personal, business, and specialty insurance, to back its Smart Cyber Insurance offering. Accordi...
Posted: Nov 03, 2022