Reinsurance News
New data from re/insurance broker Gallagher Re shows that $2.35 billion of global insurtech-sector investment was made in Q3 2022, which marked something of an “inflection point” for the space. The level of investment was in fact down 2.5% from Q2...
Posted: Nov 01, 2022
Analysts at global specialty re/insurance group Chaucer have noted an increase in demand for contract frustration insurance amid widespread sovereign debt downgrades, caused in part by the Ukraine crisis and inflationary pressures. A new report by...
Posted: Nov 01, 2022
Typhoon Nanmadol, which impacted southern Japanese islands Kyushu and Shikoku as well as the western and central regions of Japan’s main island of Honshu in September, is estimated to have caused an insured market loss of roughly USD 773 mil...
Posted: Nov 01, 2022
According to an Allianz Global Corporate & Specialty cyber report, ransomware remains a top cyber risk for organisations globally, while the threat of state-sponsored cyber attacks grows. There was a record 623 million attacks in 2021, which w...
Posted: Nov 01, 2022
The International Cooperative and Mutual Insurance Federation (ICMIF) has launched a tool to quantify insurance sustainability impact against the Insurance Sustainable Development Goals (iSDGs). Described as the first tool of its kind, the ICMIF-c...
Posted: Nov 01, 2022
Global reinsurer SCOR has partnered with Hong Kong’s first virtual insurer Bowtie and Take2, a healthcare and biotech company, to develop an innovative cancer screening solution. According to the announcement, Bowtie will sponsor 1,300 of it...
Posted: Nov 01, 2022
European consultancy firm for the re/insurance industry, AURIGON Advisors, has announced the appointment of two new Partners in Italy and Central and Eastern Europe (CEE). Aurel Fratila, former insurance executive and actuary will cover France and...
Posted: Nov 01, 2022
Executive search firm Eliot Partnership has appointed Jenni Smith and George Kesselman to the respective roles of senior advisor and special advisor for insurtech. The firm said that Smith will be based in Sydney and will work with Graeme Young, w...
Posted: Nov 01, 2022
Global credit rating agency AM Best has announced it is maintaining its negative outlook on the Indonesia non-life insurance market. According to the agency this decision is mainly due to challenges in credit and motor insurance and ongoing macroe...
Posted: Nov 01, 2022
In Swiss Re’s ‘the perfect remedy for the risks posed by digitalisation’ report, Group Chief Digital & Technology Officer, Pravina Ladva, and Antonio Grasso, digital entrepreneur, author, and founder & CEO, discuss how di...
Posted: Oct 31, 2022
Growing homeowners insurtech company, Kin, has announced the closing of a $145 million committed credit facility. The facility, which was led by Runway Growth Capital LLC and the Avenue Venture Opportunities Fund, L.P. will provide Kin with addit...
Posted: Oct 31, 2022
The V20 Group of Finance Ministers from climate-vulnerable economies and the G7 Presidency have announced they have reached an agreement on financial protection cooperation, to launch the Global Shield against Climate Risks at COP27. According to...
Posted: Oct 31, 2022
Climate analytics and technology driven risk modelling firm Reask, has appointed Daniel Swain, PhD, as Climate Science Advisor as the company expands perils covered by its global climate connected technology. According to the announcement, Reask’s...
Posted: Oct 31, 2022
FutureProof Technologies has announced two key hires to support the launch of a Florida E&S homeowners product through its algorithmic underwriting MGA. Andrea Ferrari joins FutureProof as Director of Underwriting, while Michael DSouza joins a...
Posted: Oct 31, 2022
Lloyd’s has announced the transfer of Lloyd’s Italian Branch to Lloyd’s Insurance Company (LIC) concluding the integration of the European network into LIC, a post-Brexit move to consolidate Lloyd’s European business. The UK’s exit from the...
Posted: Oct 31, 2022
Global data analytics provider Verisk has announced plans to sell its energy business, Wood Mackenzie, to Veritas Capital for $3.1 billion as it continues to shift its focus towards becoming a pure-play re/insurance business. Having joined Verisk...
Posted: Oct 31, 2022
Fitch Ratings has revised the Rating Outlook of US primary insurer Allstate from stable to negative. Fitch states that the outlook revision to Negative primarily reflects sharp deterioration in 9M22 underwriting results, compared to rating sensiti...
Posted: Oct 31, 2022
The CCRIF SPC has released a report stating it has made 4 payouts totalling US$15.2 million to 3 of its member governments during October for hydrometeorological events associated with the 2022 Hurricane Season. Nicaragua received US$8.9m on the c...
Posted: Oct 31, 2022
Catastrophe loss aggregator PERILS has disclosed its fourth and final industry loss estimate for the Southern Australia Severe Storms which occurred from October 28-30, 2021. The final estimate of the insurance market loss is AUD 972 million. This...
Posted: Oct 31, 2022
Bermuda-based specialty P&C insurer Argo has written to its shareholders in an effort to garner support to maintain its current line-up of directors, following calls to instate new ones to address alleged underperformance at the company. Earli...
Posted: Oct 31, 2022
The annual Information Security and Cyber Risk Management study from Zurich North America and Advisen indicates that 86% of respondents now have cyber insurance, up 3% from 2021 and the highest percentage in the history of the survey, though incre...
Posted: Oct 31, 2022
Specialist re/insurance broker Miller has announced the appointment of Bradley O’Connor as Chief Information Officer. The firm states that in the new role, O’Connor will focus on creating a scalable technology and data platform that enables smarte...
Posted: Oct 31, 2022
R&Q Insurance Holdings Ltd. (R&Q), a non-life global specialty insurer, reported gross written premium (GWP) for its Program Management business has grown 83% for the nine months ending 30 September 2022. The legacy specialist has provided...
Posted: Oct 31, 2022
Global commercial insurance prices continued to moderate through the third quarter of 2022, according to data from re/insurance broker Marsh, with increases slowing to 6%, down from 9% in the second quarter. Marsh’s Global Insurance Market Index m...
Posted: Oct 31, 2022
Lloyd’s managing agent Argenta has appointed Stephen Haynes to be its new marine excess of loss underwriter. The firm said that Haynes, based in London, will take on the role with immediate effect and will report to Heath Callan, head of energy an...
Posted: Oct 31, 2022