Reinsurance News
Korean Re has released its results for H1 2022, saying that it saw gross written premiums (GWP) go up by 10% in the first half of the year. The firm said in a statement that GWP had risen to KRW 4,586.4bn ($3,797.5m) and was driven by new coinsura...
Posted: Sep 20, 2022
According to Fitch Ratings, the U.S. Directors & Officers (D&O) insurance results in the first half of 2022 have improved, though premium growth has stalled. The D&O insurance line has experienced some of the most pronounced pricing in...
Posted: Sep 20, 2022
Longevity insurance technology firm FOXO has completed combining its business with that of SPAC company Delwinds. A statement from the former said that the combined company will operate under the name ‘FOXO Technologies Inc.’ and will...
Posted: Sep 20, 2022
Property & Casualty (P&C) insurer, Crum & Forster has launched a new life insurance business unit, helping to further build on the organisations 2021 acquisition of Monitor Life Insurance Company of New York. Both the acquisition and l...
Posted: Sep 20, 2022
Analysts at JMP Securities have reported that the property reinsurance market maybe be “on the cusp” of a truly hard pricing environment, ahead of the January 1 renewals. Following its discussion at the Rendez-Vous de Septembre event in Monte Carl...
Posted: Sep 16, 2022
Marine insurance provider, Skuld, has reported a positive bottom-line result of $18 million for the first six months of its 2022/23 financial year, compared with negative $24.9 million from the same period last year. The company noted that the out...
Posted: Sep 16, 2022
Bermuda-based re/insurer Aspen Insurance Holdings Limited has backed an AI-powered crime coverage for small businesses, launched by AI-driven insurtech, Counterpart. In a press release, it noted that the policy can be purchased on a standalone bas...
Posted: Sep 16, 2022
According to AM Best, the global insurance-linked securities (ILS) market remains bogged with prior catastrophe losses as the overall performance of funds deteriorates, despite another year of record cat bond issuance. In 2021, issuance in the 144...
Posted: Sep 16, 2022
The Demex Group has named Bill Clark as its new Chief Executive Officer (CEO). As a highly regarded technology executive with more than 20 years of market creation and operation leadership at both VC and PE-backed companies, Clark will bring a str...
Posted: Sep 16, 2022
Xceedance has announced the opening of its newest office locations in Worcester, Massachusetts, USA, and Bengaluru, India, in support of the company’s ongoing international growth. The Massachusetts office serves as the company’s global headquarte...
Posted: Sep 16, 2022
While many carriers look to lower the volatility of their book by cutting their property catastrophe exposure, reinsurance giant Swiss Re intends to grow further in the natural catastrophe space and sees this as a real growth opportunity, accordin...
Posted: Sep 16, 2022
International insurance broker Howden, has acquired Swiss Broker, Born Consulting AG. Founded in 2003, Born Consulting is based in Bern, Switzerland and is an independent insurance broker for national and international intermediaries, large compan...
Posted: Sep 16, 2022
California Insurance Commissioner, Ricardo Lara, has submitted an insurance pricing regulation to the California Office of Administrative Law that would recognize, and reward wildfire safety and mitigation efforts made by homeowners and businesses...
Posted: Sep 16, 2022
Allianz Global Corporate & Specialty (AGCS) has named John Gambale as regional head of distribution for North America, large corporate as part of a reorganisation. The firm said that Gambale will join at the beginning of October and will be ba...
Posted: Sep 16, 2022
Reinsurers are showing a diverging appetite for Florida property catastrophe risk, says Moody’s, ahead of further anticipated price increases and coverage constraints going into 2023. The rating agency noted that many reinsurers chose to hold stea...
Posted: Sep 16, 2022
AXA XL’s Primary Casualty Business has appointed both Mark Benz and Joseph Davina to lead the newly created Group Captives unit. Both Benz and Davina will be based in New York and will report to Chris Kopser – President and CUO Primary Casua...
Posted: Sep 16, 2022
In a new report, Fitch Ratings has warned that insurance sector outlooks in several markets across the world could move to deteriorating if both high inflation and rising interest rates continue to persist beyond the rating agency’s latest forecas...
Posted: Sep 16, 2022
CyberCube is collaborating with data analytics firm EXL to develop cyber insurance solutions for the P&C insurance industry. The firms said in a joint statement that they would help deliver the framework insurers need to develop comprehensive...
Posted: Sep 16, 2022
Reinsurance broker Acrisure Re is expanding its corporate advisory and solutions division, known as ARCAS, into North America. As part of the expansion, the firm has appointed Alex Orloff to be the managing director ARCAS North America. He will be...
Posted: Sep 16, 2022
Independent international Lloyd’s broker, Servca, has announced three key appointments to its rapidly growing group. Ian Zammit joins the Servca Board as an experienced Executive Director brought in to head up the company’s newly opened European o...
Posted: Sep 16, 2022
The cost of a cyber claim for small business owners increased by 58% in H1 2022, compared to the same period the year before. That statistic comes in insurance provider Coalition’s twelve-page 2022 Cyber Claims Report: Mid-Year Update, which says...
Posted: Sep 16, 2022
German reinsurer Deutsche Rückversicherung AG has announced that it will begin writing standard property and casualty business in selected markets in Asia. Tarik Aouad, who has been Head of Middle East markets at Deutsche Rück since 2020, has been...
Posted: Sep 16, 2022
Aon has named Michal Jursa as its new CEO for its Commercial Risk Solutions divisions in the Czech Republic. Jursa is taking on his role following thirteen years at UniCredit where he was, most recently, executive director and managing director of...
Posted: Sep 16, 2022
Market-leading insurer Beazley has announced that it has launched the AcuteCare form – a broad and flexible policy specifically for US hospitals. The AcuteCare form comprises specialist protection and is also unique due to the fact that it p...
Posted: Sep 16, 2022
Chedid Re, a member of Chedid Capital Holding and reinsurance broker, has made a series of appointments to its senior executive leadership positions. Elie Abi Rached has been appointed as Chief Executive Officer of Chedid Re’s global operations wh...
Posted: Sep 16, 2022