Reinsurance News
MBE certified Embrace Partners, Inc., a tech-driven managing general underwriter (MGU) of specialty commercial insurance, has announced the appointments of key executives to its Board of Directors. Embrace has confirmed that the Board will include...
Posted: Oct 28, 2022
Geopolitics, war, disruptions of supply chains and climate change can have a great impact on the re/insurance industry in China and emerging Asia. These, along with low insurance penetration and the region’s vulnerability to natural catastrophes &...
Posted: Oct 27, 2022
Prudential Financial is to revamp its US and international business leadership, with the changes coming into force in the first quarter of 2023. The firm said that Scott Sleyster is to retire as head of International Businesses, with Andy Sullivan...
Posted: Oct 27, 2022
Uncertain future for US workers’ compensation insurance line, warn analysts at AM Best, despite the line generating solid profits. According to a recent AM Best report, in the last five years, the annual underwriting profit in the US workers’ comp...
Posted: Oct 27, 2022
WR Berkley Corporation has formed a new offshoot called Berkley E&S Solutions that will provide surplus lines casualty coverages to middle-market and large accounts through individual wholesale broker appointments. The firm said that Curtis E....
Posted: Oct 27, 2022
US primary holding company Donegal Group has reported a net loss of $10.4 million in the third quarter of 2022, compared to a net loss of $6.7 million from the same period last year. Net premiums earned for the quarter increased by 5% to $206.1 mi...
Posted: Oct 27, 2022
Global specialty re/insurance group, Chaucer, in partnership with K2 Parametric, will provide coverage for US mid-size corporates and municipalities against hurricane and earthquake damage, an area which it notes has previously been underserved by...
Posted: Oct 27, 2022
The International Cooperative and Mutual Insurance Federation (ICMIF) has announced that Rob Wesseling, President and CEO, of Co-operators, Canada, will be the Federation’s new Chair for a four-year term. The announcement was made during the ICMIF...
Posted: Oct 27, 2022
Analysts at investment bank Berenberg have said they expect the London market to see further rate hardening throughout 2023 due to the coalescence of different factors, including inflation – the single biggest concern for the industry accord...
Posted: Oct 27, 2022
Artificial Labs, a UK insurtech providing algorithmic underwriting technology to the commercial and specialty insurance market, has announced the appointment of Martin Reith as Chairman of its Board. Reith has almost 40 years’ experience in the in...
Posted: Oct 27, 2022
Flood risk modeller Fathom has announced the launch of Fathom-Global 3.0, a new map providing insurers with full global coverage of all flood perils. The company states that Fathom-Global 3.0 enables users to quantify and mitigate flood risk, and...
Posted: Oct 27, 2022
Aegon has announced it has reached an agreement with a.s.r. to combine its Dutch pension, life and non-life insurance, banking, and mortgage origination activities. The firm states that the combination will create a leading Dutch insurance company...
Posted: Oct 27, 2022
Re/insurance broker WTW has reported revenues of $1,953 million for the third quarter of 2022, down 1% from the same period last year but up by 6% on an organic revenue growth basis. This represents an acceleration from the organic revenue growth...
Posted: Oct 27, 2022
Qatar Insurance Company (QIC), an insurer for Middle East North African (MENA) region, has reported a net profit of QAR 571 million from continuing operations for the first nine months of 2022, and underwriting income of QAR 272 million. Khalifa A...
Posted: Oct 27, 2022
Chinese conglomerate and investment company, Fosun International Ltd. is considering selling its majority stake or a minority interest in Peak Reinsurance Co., according to Bloomberg News sources. A transaction could value Peak Re at $500 million...
Posted: Oct 27, 2022
Goosehead Insurance, Inc. has reported a net income of $3 million for the third quarter of 2022, a 43% decrease compared to $5.3 million from the same period last year. The company noted that the decrease was due to higher non-cash stock compensat...
Posted: Oct 27, 2022
Everest Re has reported its Q3 2022 results, saying that it suffered a net operating loss of $205m, with a net loss of $319m. The losses, said the firm in a statement, were driven by an active catastrophe quarter and volatile market conditions. Ho...
Posted: Oct 27, 2022
Bermuda-based AXIS Capital Holdings Limited has reported a net loss of $17 million for the third quarter of 2022 on the back of previously announced catastrophe losses primarily driven by Hurricane Ian. The Q3 net loss compares with net income of...
Posted: Oct 27, 2022
Bermuda-based carrier Arch Capital Group Ltd. has released its results for the third quarter of 2022, which include an underwriting loss of $196.9 million within its reinsurance segment, largely due to the impact of Hurricane Ian. Ian accounted fo...
Posted: Oct 27, 2022
Rising interest rates and a weakening economic picture affecting pricing and demand is setting insurers for low premium income growth in 2023, according to a recent EY report. In the the latest EY ITEM Club Outlook for Financial Services analysts...
Posted: Oct 27, 2022
In a recent report, Zurich Insurance Group has observed how biodiversity metrics make for more effective voluntary carbon markets, delving into how this potential can be realised to mitigate and adapt to the effects of climate change. As countries...
Posted: Oct 27, 2022
The United Nations Development Programme (UNDP) and the International Cooperative and Mutual Insurance Federation (ICMIF) Foundation have launched the Insurance Innovation Challenge Fund to boost financial resilience of low-income populations in d...
Posted: Oct 27, 2022
Ping An has announced its Q3 2022 results, saying that it saw a growth in operating profit of 3.8% during the period. The firm said that global capital markets remained volatile in a complex, challenging international environment in the third quar...
Posted: Oct 27, 2022
Captive industry expert, Kevin Poole has joined RISCS, an independent consultancy providing captive and alternative risk transfer (ART) strategic risk advice. In his new role based in the Cayman Islands, Poole will focus on developing RISCS’ capti...
Posted: Oct 27, 2022
AXA Hong Kong and Macau have announced a partnership with Chung Shing Taxi and TaxiSafely to launch Hong Kong’s very first Internet of Vehicles (IoV) project collaborated by insurer and taxi company. The collaboration aims to enhance taxi driving...
Posted: Oct 27, 2022