Reinsurance News
Despite a couple of headwinds, Helios increased its capacity portfolio to £233 million for the 2022 underwriting year, and management is confident about the prospects and future profitability of the firm ahead of further market hardening. In late...
Posted: Oct 25, 2022
As the mystery surrounding the explosions that damaged undersea gas pipelines between Russia and Germany remains unsolved, Nord Stream 1’s re/insurers are trying to figure out how to handle potential claims worth hundreds of millions of dollars, r...
Posted: Oct 25, 2022
Vesttoo, the digital insurance risk transfer and investment platform, has closed its $80m Series C financing round, which it says has raised the valuation of the company to $1bn. The firm said in a statement that the round was co-led by Mouro Capi...
Posted: Oct 25, 2022
Greenlight Re Innovations, part of Greenlight Capital Re, has announced an investment in Otonomi, Inc. – a New York-based parametric cargo insurance platform. Over the past few years, Greenlight Re notes that both globalization and technological a...
Posted: Oct 25, 2022
According to an ALIRT Insurance Research report, there are both benefits and risks to US Life insurers’ growing dependence on Bermuda reinsurance, adding the nexus is likely poised to grow. The use of Bermuda reinsurance has grown significan...
Posted: Oct 25, 2022
HDI Global Specialty has appointed Jade Wilcox to be its new director of delegated authority. Wilcox is moving to her new role from her current position of underwriting manager. She joined HDI in 2021 from Arch Insurance where she an underwriting...
Posted: Oct 25, 2022
Commercial lines property and casualty insurance holding company, W. R. Berkley, has been making plans and positioning itself to take advantage of rising prices in the property catastrophe arena, with the company’s President and Chief Execut...
Posted: Oct 25, 2022
Re/insurance broker UIB has announced the formation of its new practice, Corporate & Capital Risks, following a major restructuring of its Specialty Lines division. James Wilson will lead the new practice, which UIB states will cater to all c...
Posted: Oct 25, 2022
US broker firm Brown & Brown has reported revenues of $927.6 million for the third quarter of 2022, representing an increase of $157.3 million, or 20.4%, when compared with the same period last year. Notably, organic revenue totalled $799.1 mi...
Posted: Oct 25, 2022
Global professional services firm, Aon has appointed William Pembroke as chief executive officer of Aon Thailand. Andrew Bentley, who had been leading Aon Thailand over the past 31 years, will move to a senior consultant role. Based in Bangkok, Pe...
Posted: Oct 25, 2022
WR Berkley has reported its Q3 2022 results, saying that gross written premiums (GWP) in the period were $3bn up from $2.7bn in the same period from the prior year. Net premiums written, said the firm, also rose between the two periods, from $2.3b...
Posted: Oct 25, 2022
A new report by the United Nations Development Programme (UNDP) has concluded that insurance provides an essential stabilising force in the face of ongoing economic uncertainty for communities around the world, particularly for those living in vul...
Posted: Oct 25, 2022
The United Nations Development Programme (UNDP) has said that its Insurance & Risk Finance Facility (IRFF) needs more financing that will be used to support its growth. The remarks were made by Jan Kellett, team and corporate lead for insuranc...
Posted: Oct 25, 2022
WTW Global Aerospace, part of the international insurance and reinsurance broker, has announced that Oyin Heath will be joining its team as Managing Director. The firm states that in the new role, Heath will be focused on driving growth and contin...
Posted: Oct 25, 2022
EuroTempest, a leading provider of European storm and weather risk management services to the re/insurance market, has announced the extension of its flood alerting and dashboard service to Germany, enabling insurers and operational teams across t...
Posted: Oct 25, 2022
Personal lines insurance agency Goosehead has appointed Justin Ricketts as executive vice president for technology and partnerships. In his role, Ricketts will lead all aspects of the company’s technology. He will be responsible for propelling the...
Posted: Oct 25, 2022
Litmus Analysis, a company that specialises in helping the re/insurance industry understand credit risk and ratings agencies, has released a study of Europe’s independent carriers identifying which cedants are best for reinsurers. The firm identif...
Posted: Oct 25, 2022
Moody’s Analytics and insurtech, Cytora, have entered into a partnership to provide the commercial insurance industry a more streamlined and informed understanding of risk. The data provided by Moody’s comes pre-integrated into the Cytora platform...
Posted: Oct 25, 2022
Montague Risk Partners, a digital specialty Managing General Agent (MGA) has announced that its Chief Operating Officer, Des McCavitt, is joining the SENSE Consortium Advisory Board. According to the announcement, Des McCavitt joins the advisory b...
Posted: Oct 25, 2022
The President and Chief Executive Officer (CEO) of reinsurance broker Guy Carpenter, Dean Klisura, said last week that the firm has been working for some time to bring additional capital and interest into the catastrophe market for next year. As w...
Posted: Oct 24, 2022
Jamie Sahara, President of Applied Underwriters, speaking on behalf of its sister company, Centauri, has suggested that the firm continues to stand strong following Hurricane Ian, having run less than halfway up its catastrophe reinsurance tower....
Posted: Oct 24, 2022
A new note from Berenberg says that rates remain under pressure while natural catastrophes for this year are poised to hit $100bn. The firm pointed to a press released put out by reinsurance giant Munich Re. It said Munich Re stressed that rates n...
Posted: Oct 24, 2022
Fannie Mae has executed its tenth Credit Insurance Risk Transfer (CIRT) transaction of 2022, as part of its ongoing effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market. CIRT 2022-10 transferred $265 mill...
Posted: Oct 24, 2022
Canada Life Reinsurance has appointed Wil Chong as Executive Advisor, Asia Pacific. Within this role he will based in Singapore, where he will work closely with Canada Life Re to support the development of their reinsurance propositions and streng...
Posted: Oct 24, 2022
With inflation currently remaining above historical peak, Swiss Re’s Head of Northern, Central & Eastern Europe, Frank Reichelt, discussed with Reinsurance News about what coping mechanisms the company have had to adapt to keep ahead. “We are...
Posted: Oct 24, 2022