Reinsurance News
In the first edition of its quarterly index that presents cyber data separately from financial and professional lines, Marsh has announced that cyber insurance pricing has increased again in Q3, outpacing other products. Cyber insurance pricing in...
Posted: Nov 02, 2022
Specialist insurer Hiscox has announced gross premiums written (GPW) growth of 6.3% to $3.68 billion for the first nine months of 2022 supported by impressive growth within its Hiscox Re & ILS division. Although, this part of the business fell...
Posted: Nov 02, 2022
Allianz Global Corporate & Specialty (AGCS) has appointed Nick Wood as Regional Head of Property for AGCS Asia Pacific. Wood has over 30 years of experience in the insurance industry, most of which has been spent underwriting and managing prop...
Posted: Nov 02, 2022
Bermuda-based reinsurer RenaissanceRe Holdings Ltd. has announced a net loss of more than $825 million for the third quarter of 2022 as the firm reports a large underwriting loss on the back of catastrophe losses of almost $649 million, mostly dri...
Posted: Nov 02, 2022
Digital insurance company Lemonade has joined the ABI as its latest member following the firm’s launch in the UK. Lemonade recently launched in the UK with its digital-first and instantaneous approach to contents insurance, entering a long-t...
Posted: Nov 02, 2022
Global insurer AIG has reported a 2.4 percentage point improvement in the General Insurance (GI) combined ratio to 97.3% for the third quarter of 2022 despite $450 million of losses related to Hurricane Ian, as net income across the firm jumped by...
Posted: Nov 02, 2022
Zurich Resilience Solutions has announced that it will become the preferred supplier of resilience and sustainability to the Worldwide Broker Network (WBN), effective from January 1 ,2023. Zurich will provide services to more than 100 broker membe...
Posted: Nov 02, 2022
Saudi Re has reported a net profit before zakat (a religious obligation for all Muslims who meet the necessary criteria of wealth) of SR 35.7 million ($9.5 million) for Q3 of 2022, a 212.46% increase from the same quarter last year. Gross Written...
Posted: Nov 02, 2022
Global insurtech, Cover Genuis has announced that it has raised $70 million in Series D funding in a round led by Dawn Capital, along with participation from new investor, New York-based Atlas Merchant Capital, and existing investors, including GS...
Posted: Nov 02, 2022
Wright National Flood Insurance Company has announced an agreement to acquire the flood insurance policy book from IAT Insurance Group Inc. and its affiliate Occidental Fire and Casualty Company of North Carolina. Beginning in early 2023, Wright F...
Posted: Nov 02, 2022
The life insurance industry in China is set to grow at a compound annual growth rate (CAGR) of 6.3% from CNY3.1 trillion ($484.4 billion) in 2021 to CNY4.25 trillion ($665.6 billion) in 2026, in terms of direct written premiums (DWP), said GlobalD...
Posted: Nov 02, 2022
With a growing number of reinsurers cutting capacity for property catastrophe re/insurance and causing a hard market, Reinsurance News had the chance to speak to Ariel Re’s London-based Property Underwriters Tom Orton and Giovanni Maccioni ahead o...
Posted: Nov 01, 2022
Global specialty insurer and reinsurer and part of China Re, Chaucer, has named Piers Tuggey, previously of AXA XL, as its new Head of Cyber. Tuggey spent four years with AXA XL, most recently serving as the company’s Head of Cyber. Prior to...
Posted: Nov 01, 2022
Argenta Syndicate Management Limited (ASML), a subsidiary of Argenta Holdings Limited, has announced the appointment of James Blackwell as Head of Property, with immediate effect. Based in London, Blackwell will be responsible for growing Argenta’...
Posted: Nov 01, 2022
Ryan Specialty has announced the appointments of Catherine Gill to Chief Executive Officer (CEO) and Mark Wood to Chairman of LifeScienceRisk (LSR), Ryan Specialty’s managing general underwriter specializing in the Life Sciences industry. Both app...
Posted: Nov 01, 2022
Australia’s QBE Insurance has announced the promotion of both Ceri Stokoe and Nathan Fuller to roles that see the pair join the firm’s International Executive Management Board, effective December 1st, 2022, subject to regulatory approv...
Posted: Nov 01, 2022
German broker Gossler, Gobert & Wolters (GGW) has joined global broking business, Brokerslink as an affiliate. In addition to the strong expertise in non-life insurance GGW is adding to the global Brokerslink network, its fully owned subsidiar...
Posted: Nov 01, 2022
Global specialty property and casualty insurer, AmTrust, has appointed Steve Jennings as Senior Vice President, Underwriting, to oversee its Nonprofits Practice, as well as a newly created dedicated Residential Real Estate Practice. Jennings has d...
Posted: Nov 01, 2022
Texas surplus lines premium increased by 31.2% to $918 million during the month of September, when compared to the same period last year, according to figures from the Surplus Lines Stamping Office of Texas (SLTX). This brings the year to date pre...
Posted: Nov 01, 2022
On the ten-year anniversary of Superstorm Sandy, the American Property Casualty Insurance Association (APCIA) released a statement attributed to Don Griffin, department vice president of policy, research, and international highlighting the need fo...
Posted: Nov 01, 2022
Independent re/insurer Apollo Group Holdings Ltd, has appointed Sian Hill as independent non-executive director of Apollo’s managing agency board. A chartered accountant with extensive experience of the banking and insurance sectors Hill has spent...
Posted: Nov 01, 2022
According to data released in Beazley’s new Cyber Services Snapshot report, fraudulent instruction as a form of cyber attack is on the rise, despite an overall decline in incidents. The data from the report suggests that professional service firms...
Posted: Nov 01, 2022
Leading pensions and financial services consultancy, Hymans Robertson has appointed Iain Church as Operations Lead for its Risk Transfer team. Within this role, Church will have operational responsibility for the Risk Transfer team. Hymans Roberts...
Posted: Nov 01, 2022
Insurance broker and risk advisor, Marsh, has announced the appointment of Charles Sincock as ESG Strategy Leader within its UK Advisory business. Sincock joins Marsh from Capco where he was the global ESG delivery lead and UK ESG lead. He began h...
Posted: Nov 01, 2022
Cincinnati Financial Corporation has reported a net loss of $418 million for the third quarter of 2022, compared to a net income of $153 million from the third quarter of 2021. The loss was mainly due to the company recognising a $557 million thir...
Posted: Nov 01, 2022