Reinsurance News
The outlook for the reinsurance industry remains positive in Asia, says Singapore’s Minister of Trade and Industry, Alvin Tan, as Asia continues to urbanise with projections that gross written premiums for life and non-life insurance are exp...
Posted: Nov 03, 2022
Trawick International Ltd, a London-based subsidiary of Trawick Holdings, LLC, has appointed Alan Crellin as Managing Director of Global Accident, Health & Life Reinsurance. In this newly created role, Crellin will be responsible for leading a...
Posted: Nov 03, 2022
The Insurance Council of Australia (ICA) has appointed two new members to the ICA Board. Hugo Schreuder, Chief Executive Officer, Youi Pty Ltd, and Paul Sofronoff, Chief Insurance Officer, RACTI, will both join the Board December 5, 2022. Schreude...
Posted: Nov 03, 2022
It’s important that property catastrophe is the most profitable line within the global property and casualty (P&C) market, but in order for this to happen, “there must be a step change in the pricing and structuring of reinsurance...
Posted: Nov 02, 2022
Global advisory, broking and solutions company, WTW has announced the appointment of Nancy Korcinsky as Head of Corporate Risk & Broking (CRB) for the Southeast region, in the U.S., effective December 1, 2022. Korcinsky has more than 25 years...
Posted: Nov 02, 2022
For the third quarter of 2022 insurance and analytics provider, Verisk has reported a net income of $189.4 million, down 6.1% from the $ 201.7 million reported in the same period last year. The firm’s consolidated revenues for Q3 2022 was $745.3 m...
Posted: Nov 02, 2022
According to the J.D. Power 2022 U.S. Auto Claims Satisfaction Study, customer satisfaction has declined 7 points from 2021 as they begin to lose patience with the claims process. Mark Garrett, director of global insurance intelligence at J.D. Pow...
Posted: Nov 02, 2022
Converge, a new cyber MGA, has announced that it is partnering with CyberCube to provide customers with deeper data and risk solutions, delivering improved business outcomes at lower premiums. CyberCube will blend its Portfolio Manager platform, S...
Posted: Nov 02, 2022
Longshore Capital Partners has announced that it has completed the acquisition of a multi-line independent insurance adjustment agency, Southwest Adjusters, with Evolve Capital Partners acting as the exclusive financial advisor. Southwest Adjuster...
Posted: Nov 02, 2022
Specialty insurer RLI has reported net earnings of $439.9 million for the third quarter of 2022, including underwriting income of $8.8 million on a combined ratio of 97.0%. This was despite the company reporting an underwriting loss of $8.8 millio...
Posted: Nov 02, 2022
Despite the fact Hurricane Ian will impact an already hardening reinsurance market, Peter Zaffino, Chief Executive Officer (CEO) of global insurer AIG, said today that his firm has commitments from all of its major reinsurers that they’ll be...
Posted: Nov 02, 2022
Property and casualty insurer, The Hartford has named Tracey Ant head of Middle & Large Commercial Business Units. According to the announcement, as of January 1, 2023, Ant will oversee all Middle & Large Commercial business units driving...
Posted: Nov 02, 2022
Global reinsurance giant Swiss Re has entered an alliance with Latin American auto insurtech Jooycar to boost auto insurance telematics benefiting small and medium-sized commercial fleets in Mexico. The insurtech will offer its fleet management se...
Posted: Nov 02, 2022
A new State of the Market Report by specialty insurance brokerage and risk management firm, Risk Strategies, has warned clients to settle their re/insurance negotiations as early as possible, ahead of an anticipated shortage of capacity at the upc...
Posted: Nov 02, 2022
International life insurance group Talcott Financial has announced the completion of a transaction with The Guardian Life Insurance Company of America to reinsure $7.4 billion in variable annuity liabilities. First announced last month, the deal w...
Posted: Nov 02, 2022
Homeowners in hurricane-prone coastal states and around the US believe severe weather is increasing and that their property is at growing risk from weather events, a new survey by the National Association of Mutual Insurance Companies (NAMIC) has...
Posted: Nov 02, 2022
Dale Underwriting Partners has confirmed the appointments of Matthew Sims and William Taylor to underwrite a new marine reinsurance line of business for its Syndicate 1729 at Lloyd’s. Matthew Sims, who will take on the role of Head of Marine and E...
Posted: Nov 02, 2022
Life insurance and reinsurance holding company, Monument Re, through its Belgian subsidiary Monument Assurance Belgium (MAB) has completed the acquisition of a run-off life insurance portfolio with BEGAAP provisions of €2.6 billion from AXA Belgiu...
Posted: Nov 02, 2022
Insurance and reinsurance broker Lockton has hired Robert Rechtern, formerly of Aon UK, to be its new Head of Accident & Health (A&H), Sports and Contingency within its Wholesale Property & Casualty (P&C) segment, effective Novembe...
Posted: Nov 02, 2022
Global specialty re/insurer Canopius has announced the launch of the ‘Canopius Tech & Data Hub’ in Manchester, UK. The Hub will begin operating early next year, says Canopius, and will ensure that that company is developing the best possible s...
Posted: Nov 02, 2022
Global multi-line reinsurer Fortitude Re has announced that Denise Nichols has joined the company as Chief Human Resources Officer, effective November 1, 2022. Nichols is a human resources leader with more than 30 years of insurance industry exper...
Posted: Nov 02, 2022
The Hanover Insurance Group has reported $1.50 billion of net premiums written (NPW) in the third quarter of 2022, a 9.5% increase compared to $1.37 billion of net premiums written in the third quarter of 2021. Net investment income for the quarte...
Posted: Nov 02, 2022
Global insurer Generali has partnered with Crawford & Company to provide specialist cyber incident response and loss adjusting services globally. Crawford & Company is described as the world’s largest publicly listed independent provider o...
Posted: Nov 02, 2022
US specialty insurer Assurant, Inc. has reported a GAAP net income of $7.3 million for the third quarter of 2022, a 95% decrease compared to $151 million from the same period last year. The company noted that the decline was primarily due to the a...
Posted: Nov 02, 2022
US re/insurer Markel Corporation has reported a comprehensive loss of $367.4 million for the third quarter of 2022, due mainly to investment losses and unrealized losses on its fixed maturity portfolio. The loss compares to a positive result of $8...
Posted: Nov 02, 2022