Reinsurance News
Florida’s new reinsurance programme is going to be tested by Hurricane Ian, says AM Best in a new commentary. It was created in recent months by state governor Ron DeSantis as the Reinsurance to Assist Policyholders (RAP) Program, designed to prov...
Posted: Sep 28, 2022
Global advisory, broking and solutions company, WTW, has announced the appointment of Michelle Cui as Director, Actuarial Property & Casualty (P&C), in its Insurance Consulting and Technology (ICT) business. Cui is joining the ICT team fro...
Posted: Sep 28, 2022
LexisNexis Risk Solutions has revealed that geopolitics and anti-money laundering regulations are major contributors to costs borne by financial services firms across the EMEA region. In its latest EMEA True Cost of Financial Crime Compliance Stud...
Posted: Sep 28, 2022
Analysts at investment bank Berenberg have said they remain confident that Hurricane Ian, currently bearing down on the Florida coast, will remain an earnings event for insurers and reinsurers, rather than a balance sheet event. The forecast path...
Posted: Sep 28, 2022
According to a recent report by DBRS Morningstar the risk of a prolonged Russian invasion of Ukraine will further complicate the resolution of aircraft leasing insurance claims which would take years to settle, with experts believing that this wou...
Posted: Sep 28, 2022
Specialty re/insurance group Ascot has launched a Miscellaneous Professional Liability (MPL) to provide comprehensive coverage for a wide range of various professional service industries. With the launch of a new MPL unit, this will further broade...
Posted: Sep 28, 2022
One80 Intermediaries, a specialty insurance broker, has acquired C&M First Services, a full-service brokerage firm that provides commercial and personal lines insurance to Asian American retail brokers throughout the United States. According t...
Posted: Sep 28, 2022
Munich Re in China has promoted Yaoling Bai to the role of senior property treaty underwriter and nat cat consultant. Bai has been with the firm since February 2019 when she joined as a property treaty underwriter. Prior to this, she worked for RM...
Posted: Sep 28, 2022
Global insurance broker and fintech leader, Acrisure has announced its acquisition of CRK Commercial Insurance Services Limited, the specialist commercial schemes provider. The deal is expected to close at the start of October 2022. Established in...
Posted: Sep 28, 2022
Australia headquartered insurer QBE has announced the sale of select Irish Casualty commercial insurance portfolios to the Ascot Group via a renewal rights transaction. The sale follows QBE’s decision earlier this year to conduct a phased withdraw...
Posted: Sep 28, 2022
Global special re/insurer Canopius Group has named Adhiraj Maitra as its group head of sustainability, effective immediately. In his new role, Maitra will be responsible for overseeing the group’s ESG position around the world. This will involve d...
Posted: Sep 28, 2022
EMC has announced that it is to exit the assumed reinsurance business conducted through EMC Re. A statement from Scott Jean, president and CEO of EMC, said that the firm plans to focus on its core insurance products distributed through independent...
Posted: Sep 28, 2022
The forecast path for hurricane Ian, which remains a Category 3 storm with sustained winds of 120 mph, has shifted south overnight, with a landfall now expected to be somewhere between Fort Myers and Sarasota. Some two million Floridians have been...
Posted: Sep 28, 2022
Analysts from the Insurance Information Institute(Triple-I) have stated that insurers need partners to reduce the threat flooding poses to life and property worldwide, and are taking several steps to achieve this. Advances in data and communicatio...
Posted: Sep 28, 2022
The safe deployment of autonomous vehicle (AV) technology could revolutionise the mobility space, though the insurance industry might not be equipped with the right knowledge and data to assess this novel risk, says Swiss Re. In a new report, Swis...
Posted: Sep 28, 2022
QIC Group subsidiary Antares has announced that Antares Syndicate 1274 has been ranked first for investment performance based on three-year average investment return over the period from FY 2019 to 2021 according to JP Morgan Asset Management’s Ll...
Posted: Sep 28, 2022
Digital platform and managing general agent (MGA) Aurora has hired Ian Thomas as Head of Product and Insight. As Head of Product and Insight, Thomas will be responsible for driving Aurora’s creative use of data with a key focus on the intelligent...
Posted: Sep 28, 2022
Japanese life insurers face a series of tough challenges over the next five years because of the country’s ageing demographic and economic factors, according to GlobalData. The data and analytics company has forecasted that the Japanese life insur...
Posted: Sep 28, 2022
P&C solutions provider Duck Creek Technologies has announced the international expansion of Duck Creek Producer – a platform for enhancing the relationships between insurers and brokers and accelerating speed-to-market for distributing new pro...
Posted: Sep 28, 2022
Crop monitoring and technology company, PlanetWatchers, has raised $11 million as part of its Series A funding round, as part of the company’s expansion plans. The company uses advanced machine learning to support crop insurers and the agricultura...
Posted: Sep 28, 2022
Analysis shows that some of the nationwide homeowners insurance giants in the U.S. have some of the highest level of catastrophe exposure to hurricane Ian, which is currently forecast to reach west-central Florida as a major Category 3 storm Wedne...
Posted: Sep 27, 2022
CoreLogic has released data analysis showing that more than one million single-family and multifamily homes along the Florida gulf coast with a reconstruction cost value (RCV) of approximately $258.3bn are at potential risk of storm surge damage f...
Posted: Sep 27, 2022
Fast-food giant McDonald’s is moving its global insurance operation to Bermuda from Dublin and is tailing off its Irish vehicle, says a report from the Irish Independent. Managed by Aon in Ireland, the Irish unit, Golden Arches Insurance, has dire...
Posted: Sep 27, 2022
Proactive insurer and insurtech, Sensa, has appointed Steven Brown as Chief Operating Officer (COO) Brown brings over 35 years of property and casualty (P&C) insurance experience towards the role. He joins from software company, The Floow Ltd,...
Posted: Sep 27, 2022
A Global survey conducted by Beazley has revealed that 99% of digital health firms anticipate growth, but almost 80% do not have an insurance policy tailored to the specific risks they face, despite claims spiking by 50% in the past year. The surv...
Posted: Sep 27, 2022