Reinsurance News
Global specialty insurance and reinsurance firm Brit Ltd., part of the Fairfax Financial Holdings Limited group of companies, has announced that its CEO Matthew Wilson is stepping down from his role and to be succeeded by Martin Thompson. Thompson...
Posted: Oct 31, 2022
Vortex Weather Insurance has announced that it will enhance its parametric weather index insurance offerings with an all-new, fully automated weather insurance portal. The company’s new Weather Insurance Portal is an industry-leading digital insur...
Posted: Oct 31, 2022
The Insurance Council of Australia (ICA) has welcomed the joint announcement by the Federal and New South Wales Governments of an $800 million Resilient Homes Program to make homes in the Northern Rivers more resilient to flood. The announcement i...
Posted: Oct 31, 2022
Rcapital and joint investor Montague have completed the acquisition of UK General Insurance and Precision Partnership Limited, following regulatory approval. The deal was first announced in August and brings together UKG and PPL under the chairman...
Posted: Oct 31, 2022
SentinelOne, an autonomous cybersecurity platform company, has announced the addition of a new app for cyber insurers’ risk management in its Singularity Marketplace. For organisations, the WatchTower Vital Signs Report app communicates an a...
Posted: Oct 31, 2022
It’s clear that the property catastrophe market is going to be challenging in 2023, but while the market shifts there are levers out there re/insurance broker Aon is able to utilise to help clients de-risk. After all, “this is our whee...
Posted: Oct 28, 2022
World-leading provider of natural catastrophe solutions and insights, ICEYE, has said that through its partnership with New Light Technologies and Bana Solutions, its rapid flood extent and depth information have now supported the Federal Emergenc...
Posted: Oct 28, 2022
The Actuaries Institute has released a report stating that the Winter 2022 reading of its Australian Actuaries Climate Index (AACI) partly reflected a brief reprieve in the rain-bearing La Niña phase, which is now causing havoc across Eastern Aust...
Posted: Oct 28, 2022
DUAL North America, one of the largest independent underwriting organisations in the US, has announced the expansion of its Transactional Risk team with the addition of three new hires. Daniel Bond, Yash Jafari have both joined the team in the rol...
Posted: Oct 28, 2022
AXA XL Insurance has launched an Underwriting Innovation Office in the Americas, appointing Rose Hall as Head. Under Hall’s leadership, AXA XL state that the Americas Underwriting Innovation Office will liaise across business lines and suppo...
Posted: Oct 28, 2022
Everest Re President and CEO, Juan Andrade, and Jim Williamson, Group COO and Head of Reinsurance, see a host of significant opportunities for growth in 2023, noting that Everest is very well positioned to take full advantage of them. Andrade cite...
Posted: Oct 28, 2022
Ageas has released its Q3 2022 results, saying that it saw a ‘strong impact’ from UK and Turkish inflation, along with adverse financial markets in China. The firm had said, while commenting on the first half year 2022 performance in August, that...
Posted: Oct 28, 2022
Appleby expands its corporate practice with the announcement that partner Gary Harris is re-joining its Bermuda office. Harris joins Appleby from Fortitude Re, where he has been Head of Legal and Compliance in Bermuda for close to three years. His...
Posted: Oct 28, 2022
Re/insurance broker Aon has posted flat revenue of $2,696 million for the third quarter of 2022, as growth in its Reinsurance Solutions segment offset a decline in revenues across all other segments. The Reinsurance Solutions segment grew its reve...
Posted: Oct 28, 2022
US property and casualty insurer, The Hartford, has reported a net income of $333 million for the third quarter of 2022, down 20% compared to the $476 million reported last year. According to the company, this was primarily due to lower net invest...
Posted: Oct 28, 2022
Insurance and reinsurance broker, Arthur J. Gallagher & Co., has reported net earnings of $256.3 million for the third quarter of 2022, compared with $238.6 million a year earlier. The firm’s overall revenues were down slightly from $2,105.6 m...
Posted: Oct 28, 2022
John Dacey, Chief Financial Officer (CFO) of Swiss Re, has said it’s clear that reinsurers require better expected returns on the business they write, suggesting it’s going to be a challenging January 1st, 2023, reinsurance renewals am...
Posted: Oct 28, 2022
Re/insurance broker Aon has released the results of its 2022 Executive Risk Survey, “Making Better Decisions in Uncertain Times” finding that leaders who are making better decisions about risks are better prepared to navigate through a...
Posted: Oct 28, 2022
Universal Insurance Holdings has reported a net loss of $72.3 million for the third quarter of 2022, down from a net income of $20.2 million in the prior year quarter. The company also reported an adjusted net loss of $69.4 million for the quarter...
Posted: Oct 28, 2022
A new note from JP Morgan on the European reinsurance market says that large losses over the last six years alongside a half decade of price increases have impacted the industry. The financial giant said that five years of price increases have bod...
Posted: Oct 28, 2022
Legal & General Assurance Society Limited has announced that it has agreed and Assured Payment Policy (APP) transaction of around £10 million with Flour Milling and Baking Research Association Pension and Assurance Scheme marking its sixth APP...
Posted: Oct 28, 2022
Global reinsurance giant Swiss Re has reported a net loss of $285 million for the first nine months of 2022, driven by a loss in the third-quarter of $442 million on the back of lower investment results and large natural catastrophe claims. The ne...
Posted: Oct 28, 2022
Actuarial Risk Management Ltd. (ARM), a provider of advisory actuarial services, has announced the launching of its Data and Modeling Institute (DMI), aimed to transform insurers’ actuarial functions and address the industry’s supply-d...
Posted: Oct 28, 2022
A new report from AM Best highlights that even though ID theft coverage is offered as a standalone policy, but predominantly sold as part of a package, the market has seen a significant increase in standalone policies, to 2.3 million in 2021 from...
Posted: Oct 28, 2022
Independent US insurance brokerage Woodruff Sawyer has announced that Todd Dorsey has joined the firm as Vice President in its Private Equity and Venture Capital Group. Prior to joining Woodruff Sawyer, Dorsey served three years at Lockton, where...
Posted: Oct 28, 2022