Reinsurance News
XS Brokers (XSB), an independent insurance underwriting and wholesale brokerage group, has announced a series of promotions. Misty Quail has been promoted to EVP, Business Development Manager. Under her leadership, she will ensure XS Brokers’...
Posted: Sep 30, 2022
AM Best notes that reinsurance companies in South and Southeast Asia (S/SEA) posted an improved combined ratio in 2021, although underwriting performance remains pressured with a continued reliance on investments to achieve bottom-line profitabili...
Posted: Sep 30, 2022
Specialty MGA firm Optio Group says that it is going to establish an MGA and reinsurance broker in Dubai, subject to approval from the UAE authorities. The firm said that it expects both businesses to be operational from the beginning of next year...
Posted: Sep 30, 2022
Specialty re/insurer QIC Global, the subsidiary of Qatar Insurance Group, has announced its intention to align its core companies under the Antares name, creating a single identity to unify the brand across respective entities. According to the an...
Posted: Sep 30, 2022
After devastating Florida’s west coast as a strong Category 4 storm before weakening over land, hurricane Ian is set to restrengthen in the Atlantic and is expected to make a second U.S. landfall on the South Carolina coastline as a Category...
Posted: Sep 29, 2022
Swiss Re has expanded its partnership with Verily by exchanging an investment in Granular Insurance Company for an equity stake in Verily. Following this transaction, Granular will be wholly-owned by Verily, which is the life sciences and healthca...
Posted: Sep 29, 2022
According to global GIS and geospatial technology company RMSI, Hurricane Ian is set to cause $65bn of economic losses in Florida as it continues its path across the state. Hurricane Ian made landfall on Wednesday as a major Category 4 storm with...
Posted: Sep 29, 2022
Analysts at KBW have estimated that insurance and reinsurance industry losses from Hurricane Ian will be in the “low $30 billion range.” Although the storm is still ongoing, KBW believes that the hurricane’s relatively rapid weakening sugges...
Posted: Sep 29, 2022
For the third time in four years, cyber threats have been found to be the top overall concern for business decision makers, according to the 2022 Travelers Risk Index results. Of the 1,200 survey participants, more felt that today’s business envir...
Posted: Sep 29, 2022
HDI Global SE has announced it is bringing together its portfolio steering teams in the Property lines, noting the newly centralised foundation will accelerate the achievement of the strategic objective of underwriting excellence. Dr Carsten Schul...
Posted: Sep 29, 2022
A new analysis from Insuramore on the global commercial P&C non-life insurance carrier market has found that 145 insurer groups had gross direct written premiums (GDWP) in this category of more than $1bn in 2021. The analysis also found that j...
Posted: Sep 29, 2022
AXA XL Insurance has announced that it has promoted Brett Stewart to Manager of Loss Prevention and Education for AXA XL’s Design Professional insurance business in North America. In a press release, it stated that within this new role, Stewart wi...
Posted: Sep 29, 2022
Global ratings agency AM Best has announced that it has downgraded the Financial Strength Rating to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating to “bb” (Fair) from “bbb-“ (Good) of Tower Hill Prime Insurance Company. The outlook...
Posted: Sep 29, 2022
Global reinsurance broker Gallagher Re has announced the appointments of David Bangs as Head of Gallagher Re APAC UK, based in London and Robin Swindell as Executive Officer, based in Tokyo. Bangs is returning to Gallagher Re having started his ca...
Posted: Sep 29, 2022
Cowbell has launched a new subsidiary to be known as Cowbell Specialty. A statement from the firm said that the launch augments its current business model as Cowbell Specialty joins a reputed panel of 15 carriers and reinsurers that currently supp...
Posted: Sep 29, 2022
According to a report from Neptune Flood, the firm saw a 4x increase in quotes above its normal volume as of Monday the 26th. Hurricane Ian made landfall on Wednesday the 28th as a major Category 4 storm with maximum sustained winds of around 155...
Posted: Sep 29, 2022
Lloyd’s focused investment vehicle, Helios Underwriting, has released its unaudited results for H1 2022, saying that it saw gross written premiums (GWP) rise by 133% to £124m over the period. Elsewhere, the firm reported a loss after tax of...
Posted: Sep 29, 2022
Elevated loss activity and equity market volatility this year has led to a drop in net income and a decline in policyholders’ surplus for P&C insurers, says AM Best’s new Best’s Market Segment Report. The report says that the drop in net incom...
Posted: Sep 29, 2022
A resilient portfolio construction, liquidity management, and integrated technology are becoming the focus of global insurers as they work on innovating their investment approaches amidst rapidly changing market conditions this year, according to...
Posted: Sep 29, 2022
Hurricane Ian made landfall on Wednesday as a major Category 4 storm with maximum sustained winds of around 155 mph near the Cayo Costa area, bringing widespread flooding, property damage, and power outages. The NHC warned of severe and life-threa...
Posted: Sep 29, 2022
GlobalData has predicted that the South Korean reinsurance industry will grow at a compound annual growth rate (CAGR) of 7.0% from KRW9.6tn ($8.4bn) in 2021 to KRW13.4tn ($11.9bn) in 2026, in terms of gross written premiums (GWP), supported by cli...
Posted: Sep 29, 2022
Ahead of COP27, the African Risk Capacity (ARC) outlines the importance of parametric insurance on the African continent, highlighting the need for further collaboration with more developed nations. ARC provides parametric insurance services to Af...
Posted: Sep 29, 2022
Berlin-based insurtech, wefox, is calling on the insurance industry to improve customer experience after its Global Safety Report results revealed there is widespread dissatisfaction and lack of trust in the industry. At the same time, the report...
Posted: Sep 29, 2022
As cyberattacks increase in frequency and severity, the Insurance Council of Australia (ICA) has welcomed analysis from the Actuaries Institute on cyber risk and the role of re/insurance in protecting against the impacts of cybercrime. In a recent...
Posted: Sep 29, 2022
Hurricane Fiona has caused loss of life, extensive property damage, flight cancellations and power loss for hundreds of thousands of homes across Atlantic Canada, and, according to a DBRS Morningstar report, the storm is likely to cause record ins...
Posted: Sep 28, 2022