Reinsurance News
Athora Holding Ltd., a European savings and retirement services group has secured over €2 billion of additional permanent equity capital commitments from new and existing shareholders, including commitments of €600 million received in December 202...
Posted: Nov 03, 2022
Praedicat, the liability emerging risk analytics company, has launched a new probabilistic casualty catastrophe model called Nekomodel X to help facilitate exposure-based pricing and reserving for insurers. Nekomodel X is designed to expand on the...
Posted: Nov 03, 2022
Even prior to the 2022 wind season, specialty re/insurer Lancashire Holdings expected catastrophe-exposed lines to harden considerably for next year, and according to Group Chief Underwriting Officer (CUO), Paul Gregory, Hurricane Ian has “t...
Posted: Nov 03, 2022
Liberty Mutual Holding Company (LMHC), along with its subsidiaries, has said that elevated catastrophe losses and volatility within the investment markets has driven a net loss of $353m to the firm in Q3 2022. In releasing its result, the company...
Posted: Nov 03, 2022
Specialty insurer RLI has announced that Paul B. Medini has been appointed to its Board of Directors. The firm states that Medini brings extensive audit, accounting, and insurance experience to his new role following a 17-year career at ACE Group...
Posted: Nov 03, 2022
Hamilton Insurance Group, Ltd., a Bermuda-based company, has named Anita Kuchma Chief Executive Officer at Hamilton Select, its US excess and surplus (E&S) lines insurer. Kuchma is taking over the role from Clay Rhoades who is no longer with t...
Posted: Nov 03, 2022
Enstar Group has reported a net loss of $444 million in the third quarter of 2022, compared to a net loss of $196 million in the third quarter of 2021. This contrasted with the firm saying that its net loss for the year currently stands at $1.2 bi...
Posted: Nov 03, 2022
California-based Palomar Holdings, Inc., has reported an increase in its gross written premiums (GWP) of 66.2% to $253.1 million for the third quarter of 2022, compared to $152.3 million reported in the same period last year. Palomar’s net income...
Posted: Nov 03, 2022
Selective Insurance Group has reported $903.4 million of net premiums written in the third quarter of 2022, an 11% increase from $813 million in the third quarter of 2021. At the same time, the company’s net premiums written for the year so far cu...
Posted: Nov 03, 2022
Greenlight Re has announced a net loss of $18.5 million for the third quarter of 2022, stating that Hurricane Ian loss, while manageable, overshadowed the significant progress the company has made in its underwriting operations. This has widened s...
Posted: Nov 03, 2022
Christian Mumenthaler, Group Chief Executive Officer at Swiss Re, has urged for more collaborative action from public and private sector interests towards meeting climate targets and reversing the harmful impacts of climate change. Writing as part...
Posted: Nov 03, 2022
Kemper Corporation has reported a net loss of $76.2 million for the third quarter of 2022, compared to a net loss of $75.3 million for the third quarter of 2021. Total revenues for Q3 of 2022 decreased $67.0 million, or 5%, to $1,377.6 million, co...
Posted: Nov 03, 2022
Allstate has announced a net loss of $694 million for the third quarter of 2022, compared to a net income of $508 million in the prior year quarter, primarily due to an underwriting loss and equity valuation declines. The company’s adjusted net l...
Posted: Nov 03, 2022
SiriusPoint has announced plans to close three offices from which it underwrites property catastrophe reinsurance and reduce its footprint in two more, as it looks to restructure its underwriting platform following a net loss of $98 million for th...
Posted: Nov 03, 2022
Hannover Re and Munich Re, two of Europe’s big four reinsurance companies, are awaiting regulatory approvals for an alternative investment joint-venture, designed to increase the diversification of a combined private equity portfolio, while...
Posted: Nov 03, 2022
According to a report from the global advisory, broking and solutions company, WTW, both the energy and the insurance industries have a lot to be apprehensive about heading into the January renewals, as global geopolitical and economic uncertainti...
Posted: Nov 03, 2022
Chris Turberville has decided to leave Allianz Global Corporate & Specialty (AGCS) to join global insurer Chubb as its new Head of Hull for Chubb Global Markets, the firm’s London Market wholesale and specialty business including its Llo...
Posted: Nov 03, 2022
Lancashire Holdings has released its result for the first nine months of this year, saying that gross written premiums grew by over a third in this time to reach $1.3bn. A statement from the firm also said that it expected to see net losses from H...
Posted: Nov 03, 2022
Markel Co-CEO Richie Whitt has asserted that his company is “prepared to walk away from business that is not adequately priced” as it contends with inflationary pressures and a volatile investment market. Markel reported a comprehensive loss of $3...
Posted: Nov 03, 2022
Global insurer AXA has reported that its gross revenues increased by 2% to €78.4 billion over the first nine months of 2022, as strong growth across the company’s commercial and personal lines business was offset by a reduction in natural catastro...
Posted: Nov 03, 2022
Chedid Re has announced that its Paris office has received a license to conduct insurance and reinsurance brokerage activities in France, extending the network of Chedid Re Global Operations. Farid Chedid, Chairman and Group CEO of Chedid Capital,...
Posted: Nov 03, 2022
German reinsurer Hannover Re has reported group net income growth of 1.7% to €871 million for the first nine months of 2022, despite the firm’s net large losses coming in above budget for the period at €1.484 billion. Alongside slight growth...
Posted: Nov 03, 2022
Brian O’Neill has been named head of AXA XL’s Crime and Crisis Management business, part of AXA XL Professional insurance division, in North America. The role was formerly held by Greg Bangs, who has announced his retirement. According...
Posted: Nov 03, 2022
A public consultation period for Version 1.0 of the Net-Zero Insurance Alliance (NZIA) Target Setting Protocol has been launched. The Alliance has described it as the first of its kind for re/insurance underwriting portfolios. The Protocol outline...
Posted: Nov 03, 2022
The impacts of climate change see Africa lose up to 15% of its gross domestic product per capita, every year, suggesting there’s an urgent need to expand the use of alternative risk solutions, such as parametrics, to help more countries effe...
Posted: Nov 03, 2022