Reinsurance News
Global reinsurer Munich Re and its subsidiary, HSB, have partnered with Schneider Electric, a specialist in energy management and automation, on electrical and equipment risk. The partnership will blend risk solutions including uptime guarantees a...
Posted: Oct 12, 2022
Insurance Europe, the European insurance and reinsurance federation, have published their comments regarding a recent consultation by the European Insurance and Occupational Pensions Authority (EIOPA) on differential pricing as concerns have been...
Posted: Oct 12, 2022
Prior to hurricane Ian’s landfall in Florida, the U.S. Federal Emergency Management Agency (FEMA) had already started the process of renewing the National Flood Insurance Program’s (NFIP) traditional reinsurance protection for the Janu...
Posted: Oct 12, 2022
Loss adjuster Global Risk Solutions (GRS) has gone into a strategic partnership with CED Nederland and its specialty division EMN. The link-up between the firms is part of GRS’s plan to expand into Europe. It said that the new partnership will enh...
Posted: Oct 12, 2022
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance’s Global Risk Solutions division, has announced the launch of a new Lloyd’s facility for the London Market – the Liberty Project Cargo Consortium (LPCC), to underwrite global projec...
Posted: Oct 12, 2022
In a new report, Global Insurance Law Connect (GILC) predicts that cyber cover will become as ubiquitous as public liability or professional indemnity insurance as the level of threat continues to amplify globally. It adds that while the increased...
Posted: Oct 12, 2022
Universal Insurance Holdings has so far received approximately 18,000 claims following the impacts of hurricane Ian and expects its overall gross ultimate loss from the storm to be $1 billion, which is below its $3 billion reinsurance tower. To da...
Posted: Oct 12, 2022
According to Gracechurch Consulting’s recent London Insurance Technology Monitor report, most brokers & underwriters prefer to use an e-trading platform than not, with eight in ten believing that e-trading will be the norm for everyone in the...
Posted: Oct 12, 2022
A new report from AM Best states that the balance sheets of UK life insurers have proved resilient through a period of market turbulence in financial markets due to the sharp and rapid rise in yields on UK gilts towards the end of September 2022....
Posted: Oct 12, 2022
Global advisory, broking and solutions company, WTW, has announced the launch of Risk Intelligence Quantified (Risk IQ), a platform aimed to help risk specialists to understand and navigate their business’s risk portfolio. According to the WTW, Ri...
Posted: Oct 12, 2022
Generali Spain and Sanitas have signed a strategic agreement to provide to the more than 150,000 customers insured under Generali Spain’s health policies, as well as new customers, access to an extended health insurance offer. The agreement will c...
Posted: Oct 12, 2022
Allianz X, the digital investment unit of the Allianz Group, has announced it is to acquire Innovation Group, a service provider for the management of complex claims in the automotive and real estate sector. In the announcement, Allianz X stated i...
Posted: Oct 12, 2022
HSB, Munich Re-owned specialty engineering and technology insurer, has announced the appointment of two new Business Development Managers, Ross Tyler and Sharon Evans. As new managers, Tyler and Evans will be responsible for building and maintaini...
Posted: Oct 12, 2022
Lloyd’s re/insurer MS Amlin Underwriting Limited (MS AUL) has appointed Andrew Carrier as Chief Executive Officer (CEO). Carrier, who currently serves as MS AUL’s Chief Underwriting Officer (CUO), will take up the role on January 1, 2023, subject...
Posted: Oct 11, 2022
MSIG Holdings (MSI USA), an onshore US re/insurer and a member of the MS & AD Insurance Group, has announced the appointment of Johan Slabbert as Chief Executive Officer. Slabbert, currently MS Amlin Underwriting’s (MS AUL) CEO, will tak...
Posted: Oct 11, 2022
Moody’s Investors Service has downgraded the insurance financial strength (IFS) rating of Farmers Insurance Exchange, the lead member of Farmers Insurance Group (Farmers) to A3 from A2 and the surplus note rating to Baa3 (hyb) from Baa2 (hyb...
Posted: Oct 11, 2022
Amerisure, a provider of commercial property and casualty insurance solutions, has announced the appointment of Marty Arnold as Senior Vice President and Chief Underwriting Officer (CUO). In this role, Arnold will lead the company underwriting str...
Posted: Oct 11, 2022
Analysts at Stonybrook Capital have warned that the market effects from hurricane Ian will be “profound and widespread,” with all-in re/insured loss and loss adjustment expenses (LAE) having the potential to come in significantly above...
Posted: Oct 11, 2022
Platform company Tremor Technologies has launched its Reinsurer Product Council with its first cohort of eight global reinsurance companies and ILS funds participating representing nearly $100bn in industry capital. The firm said in a statement th...
Posted: Oct 11, 2022
A recent report from AM Best suggests that the US title insurance industry saw its net income jump 46% in 2021 to $2.3bn, however, macroeconomic pressures in 2022, specifically those affecting mortgage rates, have created a volatile landscape for...
Posted: Oct 11, 2022
A new study from analytics firm JD Power says that independent insurance agents have never been more satisfied with their carrier partners. The firm said, according to its 2022 US Independent Agent Satisfaction Study, that overall agent satisfacti...
Posted: Oct 11, 2022
Lancashire Group has made a raft of hires and appointments. The firm said in a LinkedIn post that it had hired Angus Roberts to be its new head of airline, while Francis Lobo has been appointed as head of engineering. The news of Roberts’s hire fi...
Posted: Oct 11, 2022
According to Insuramore, a provider of marketing services focusing on the insurance sector, despite the auto (motor) insurance sector remaining a tough market, some challengers are growing profitably. The firm’s recently published ranking fo...
Posted: Oct 11, 2022
Corebridge Financial, the recently rebranded Life & Retirement business of AIG, has announced that Terri Fiedler has been named President of its Retirement Services business, effective immediately. Fiedler has served as the President of Financ...
Posted: Oct 11, 2022
Liberty Global Transaction Solutions (Liberty GTS) has hired three new underwriters for its Asia-Pacific business. The firm, an offshoot of Liberty Mutual Insurance’s global risk solutions division, said it had hired Damian Ng, Sanjeve Prakasam, a...
Posted: Oct 11, 2022