Reinsurance News
Re/insurance broker Aon has reported that year-to-date economic losses, including preliminary estimates for Hurricane Ian, are already at $277 billion year-to-date, of which $99 billion is expected to be covered by public and private insurers. The...
Posted: Oct 19, 2022
BMS Group has announced further expansion of its specialty energy practice with the hire of Alex Tesei as director of European energy reinsurance. Tesei holds almost two and a half decades of industry experience, having spent ten years building up...
Posted: Oct 19, 2022
Amazon has announced the launch of its Amazon Insurance Store, a new way for UK customers to shop for home insurance. For the initial launch, Amazon partnered with Ageas UK, Co-op, and LV= General Insurance, noting that each company was carefully...
Posted: Oct 19, 2022
Data from pensions and financial services consultancy Hymans Robertson shows that total pension scheme buy-in and buy-out volumes reached £12 billion in the first half of 2022. Analysts report that demand for transactions was steady at the start o...
Posted: Oct 19, 2022
Bermuda-based carrier Arch Capital Group Ltd. has announced pre-tax catastrophe losses of $530 million to $560 million in the third quarter of 2022, net of reinsurance and reinstatement premiums, across its property casualty (P&C) insurance an...
Posted: Oct 19, 2022
The Lloyd’s Market Association (LMA) has published a general guidance document for the implementation of the FCA Consumer Duty, which has been gradually introduced over the past year in a series of policy announcements. The Consumer Duty sets stan...
Posted: Oct 19, 2022
Insurance broker, Howden has appointed Mike Godfrey as Executive Director and Head of its Equine division, part of its Sports & Entertainment practice. Godfrey will commence employment at Howden subject to completion of his contractual obligat...
Posted: Oct 19, 2022
AI-driven commodity intelligence company, Commodities AI Ltd (ChAI), has completed a seed round to help expand its industry-leading services into new markets, providing real-time commodity price forecasts to new global audiences, including raw-mat...
Posted: Oct 19, 2022
According to a recent Risk & Resilience research report from Beazley, there is a “worrying” degree of complacency around active cyber risk management and maintaining resilience to cyber threats, with over 41% of UK and US business...
Posted: Oct 18, 2022
Global data analytics provider Verisk has announced the release of climate change projections for its U.S. Hurricane and Caribbean Tropical Cyclone Models to help quantify climate-related, extreme event losses and their potential evolution over th...
Posted: Oct 18, 2022
California has introduced new wildfire safety regulation to help drive down cost of insurance by recognizing and rewarding wildfire safety and mitigation efforts made by homeowners and businesses. Insurance Commission Ricardo Lara’s regulation wil...
Posted: Oct 18, 2022
AM Best is maintaining its negative outlook for Colombia’s insurance industry, owing to the challenging global conditions that continue to pressure the country’s economy. In its report, Best notes that despite economic conditions in the country im...
Posted: Oct 18, 2022
QBE International Markets has made two appointments within its US marine insurance team. The company has announced that Sean Dollahon has been appointed as Vice President, US Marine Manager, and Katie McCord has been appointed as Vice President, S...
Posted: Oct 18, 2022
According to a recent Goldman Sachs report, commercial pricing is expected to continue to show modest deceleration in the quarter. This is mainly due to higher investment yields and improved underwriting over the past several years which have mode...
Posted: Oct 18, 2022
Reinsurer Munich Re has agreed to provide backstop capital for a new funding product from OneNexus that seeks to provide the oil and gas industry with an option to reduce its environmental footprint. OneNexus’s Asset Retirement Obligation (ARO) pr...
Posted: Oct 18, 2022
CRC Group has announced that its Specialty Programs Division will conduct business under the new Starwind brand beginning October, 18, 2022. Created through the combination of CRC Programs and the acquired Constellation Affiliated Partners, Starwi...
Posted: Oct 18, 2022
AXIS Capital has said that it is the first North American insurer to declare that it will not underwrite projects without ensuring clients have obtained the right to Free, Prior and Informed Consent (FPIC) of impacted Indigenous communities. The f...
Posted: Oct 18, 2022
A new report from Moody’s says that reinsurers will face heavy losses arising from Hurricane Ian, which has battered the US state of Florida in recent weeks. The report says that, given the severity of losses, primary insurers will share a signifi...
Posted: Oct 18, 2022
Berkshire Hathaway Specialty Insurance (BHSI) has appointed Pedro Mairos to be its global underwriting officer for marine. Mairos is moving from his role as head of marine for the UK and Ireland at BHSI. He joined the firm three years ago and will...
Posted: Oct 18, 2022
Venture capital provider BP Marsh has reported improvements in profits and net asset value for the six months to end of July this year, and maintains a positive outlook on the re/insurance market moving forward. The company reported consolidated p...
Posted: Oct 18, 2022
Global advisory, broking and solutions company, WTW has announced the appointment of Terry Rolfe as Director – Client Relationship Management (CRM), within the company’s Aerospace business. Rolfe has more than 30 years of industry experience...
Posted: Oct 18, 2022
Global insurance broker Lockton’s dedicated reinsurance division, Lockton Re, has appointed Oliver Brew in a new role as Cyber Practice Leader in London. Brew brings more than 20 years of industry experience towards the role. He joins from CyberCu...
Posted: Oct 18, 2022
International broker, Howden has appointed Alexander van Kuffeler as Chief Commercial Officer of Howden CAP. In a press release, Howden stated that van Kuffeler’s role will be to hone the value proposition for Howden CAP, and support its delivery...
Posted: Oct 18, 2022
Terrorism reinsurer Pool Re has appointed Jonathan Gray as chief underwriting officer elect. A statement from the firm said that Gray will join the government-backed reinsurer in November and work alongside current CUO Steve Coates before the latt...
Posted: Oct 18, 2022
AXA Spain, a division of the global insurance group, has entered into exclusive negotiations with Groupe des Assurances du Crédit Mutuel for the potential takeover of Groupe Assurances du Crédit Mutuel España (GACM España), its predominantly P&...
Posted: Oct 18, 2022