Reinsurance News
Specialty insurer Brit has appointed Jack Hinton to be an underwriter in its accident and health team. Hinton is joining the firm from RSA, where he has been a senior underwriter. Prior to RSA, He held underwriting roles with Sompo International a...
Posted: Oct 04, 2022
Athora Belgium, a wholly owned subsidiary of life insurance group Athora Holding (Athora), has announced it has completed the acquisition of a closed-book individual life portfolio from NN Insurance Belgium. The transaction brings its assets under...
Posted: Oct 04, 2022
UK financial services group Legal & General (L&G) has reported “limited economic impact” to its business from the financial volatility in the UK over the past few weeks, as well as from wider unstable macro conditions. Last week, the Bank...
Posted: Oct 04, 2022
Canopius Group has appointed Tracey Corrigan to the role of group head of change. The firm said that Corrigan begins her role at the beginning of October, and she will have overall responsibility for the group wide change portfolio, programme and...
Posted: Oct 04, 2022
Premium income for the London company market has risen by more than 7%, a new analysis published by the International Underwriting Association (IUA) has shown. Firms covering large commercial, wholesale and specialty risks in the City earned £30.1...
Posted: Oct 04, 2022
Venerable Holdings, a provider of innovative risk transfer solutions to variable annuity issuers, has announced the completion of a reinsurance transaction with Manulife Financial Corporation, a Canadian multinational insurance company and financi...
Posted: Oct 04, 2022
According to a recent report by Goldman Sachs analysts, UK life insurer stocks are being pressured by moves in the gilt market, mainly by the speed of the market moves and the potential of short-term collateral calls required by derivatives, even...
Posted: Oct 04, 2022
MGA firm Alta Signa has announced its expansion into Central and Southeastern Europe (CSEE) and has appointed Paulina Radgowska as Head of Business development CSEE. Specialising in Financial Institutions, Management Liability, Professional Indemn...
Posted: Oct 04, 2022
According to Akur8’s first Global Pricing Survey, 83% of key players in the insurance pricing community believe the convergence between actuarial and data science would be highly valuable to their team in the future. The survey notes that pricing...
Posted: Oct 04, 2022
Re/insurance broking firm Arthur J. Gallagher has announced that it plans to acquire M&T Insurance Agency, a provider of risk management and group benefits consulting services based in Buffalo, NY. The firm said in a statement that it had sign...
Posted: Oct 04, 2022
The National Reinsurance Corporation of the Philippines (Nat Re), the Philippines’ sole professional reinsurer, has been assigned a financial strength rating of PRS A, with a stable outlook, by Philippine Rating Services Corporation (PhilRatings)....
Posted: Oct 04, 2022
According to S&P Global Ratings, global reinsurers will be significantly exposed to the damage caused by Hurricane Ian in Florida, which could reach $40 billion. Despite this, analysts expect losses to remain within annual catastrophe budgets....
Posted: Oct 03, 2022
Bermuda-based MGA Arcadian Risk Capital has announced that it has received regulatory approvals for new London and Dublin companies. Arcadian UK standalone authorisation was approved by the Financial Conduct Authority on the 12th of August 2022 wi...
Posted: Oct 03, 2022
A new note from DBRS Morningstar says that Hurricane Ian, which hit Florida in recent days, will showcase the challenges of insuring property in the state. The note says that the economic loss, which the company says is likely to top the $50bn cau...
Posted: Oct 03, 2022
Arch Mortgage Insurance Company (Arch MI) has announced that it has obtained over $358 million of indemnity reinsurance on a pool representing approximately $51.7 billion of mortgages from special purpose reinsurance, Bellemeade Re 2022-2 Ltd. The...
Posted: Oct 03, 2022
Risk-modelling firm KatRisk has estimated that the combined costs from Hurricane Ian, which has battered Florida in the last week, should fall between $29.9bn and $62.1bn. The firm said in a presentation that it estimates losses from storm surge t...
Posted: Oct 03, 2022
Aston Lark is reporting a 75% growth in revenue, growing to £160.1 million, and 82% growth in EBITDA in 2021, according to its latest results. The company’s organic growth in commission and fees of 11%, was mostly due to a positive result against...
Posted: Oct 03, 2022
Analysts at KBW have said they expect Hurricane Ian to represent a “very expensive earnings event” for the insurance and reinsurance companies it covers, rather than a capital event. Following new re/insurance industry loss estimates of $63 billio...
Posted: Oct 03, 2022
CRESTA, the insurance industry organisation that provides a global standard for risk accumulation zones and cat industry losses, has released the Q3/2022 update of its CRESTA Industry Loss Index, (CLIX) which shows above-average loss activity for...
Posted: Oct 03, 2022
International General Insurance Holdings (IGI), the specialty risks commercial insurer and reinsurer, has appointed veteran Christopher Jarvis as Chief Underwriting Officer of the IGI Group. As a member of the IGI Executive team he will be based i...
Posted: Oct 03, 2022
Monument Re has announced that AME Life Lux S.A. will merge into its subsidiary, Monument Assurance Luxembourg S.A. following receipt of regulatory approval from the Commissariat aux Assurances. Following this merger, Monument Assurance Luxembourg...
Posted: Oct 03, 2022
Swiss Re and Indonesia Re are to partner up to provide members with access to the analytics solutions and risk consulting services of the national Insurance Data Centre Management Agency (BPPDAN). The BPPDAN, which is administered by Indonesia Re,...
Posted: Oct 03, 2022
Broker firm Howden has appointed Philippe Lutgen as chief operations officer (COO) for Europe. He will report to Luigi Sturani, CEO of Howden Europe, and will be based in London. In the newly formed role, Lutgen will lead on operations across the...
Posted: Oct 03, 2022
US-based insurtech Lemonade has launched in the UK, entering a long-term, strategic partnership with Aviva. Lemonade states that residents across the UK can now get access to its insurance contents instantly, from anywhere, on any device, as well...
Posted: Oct 03, 2022
Data analytics and risk assessment firm Verisk has estimated that Hurricane Ian could drive a re/insurance industry loss of between $42 billion and $57 billion. This estimate accounts for wind, storm surge and inland flood losses from Ian’s landfa...
Posted: Oct 03, 2022