Reinsurance News
Specialist international insurer, Tokio Marine Kiln (TMK), has announced a number of high-profile appointments in the aviation team. According to the announcement, these appointments are part of a renewed drive in the sector under the direction of...
Posted: Sep 09, 2022
According to Howden’s Reinsurance Market Report, heightened volatility caused by various aspects of the current risk landscape has led the market to harden in several areas to a degree not seen since 2006. With unexpected losses from Ukraine comin...
Posted: Sep 09, 2022
CCR Re, the French state-owned reinsurer, has reported a 15% year-on-year rise in gross written premiums (GWP) for the first half of 2022, as the firm achieved profitable and diversified growth. The rise in premiums to €764 million compares with t...
Posted: Sep 09, 2022
According to Fitch Ratings, several European insurance sector outlooks could move to ‘deteriorating’ if high inflation persists and interest rate rises become more significant. In a recent study, Fitch analysed the potential impact of an economic...
Posted: Sep 09, 2022
Risk managers in the power sector must navigate a new risk landscape brought about by the Russia-Ukraine conflict, global inflation, the energy transition, and climate change, according to the 2022 Power Market Review from WTW. With power insuranc...
Posted: Sep 09, 2022
Liberty Mutual Insurance has announced changes to its dual-channel distribution strategy for specialty and excess & surplus (E&S) insurance solutions. The changes are set to improve business operations and better serve retail and wholesale...
Posted: Sep 09, 2022
Analysts from the Swiss Re Institute have concluded that “friend-shoring” of supply chains to allied countries and reshoring production capacity domestically, investments in green energy and mitigating a food crisis will shape the risk...
Posted: Sep 09, 2022
WTW, a global advisory, broking, and solutions company has named Kiran Nayee as Client Relationship Director for Large and Complex Casualty Risks. According to WTW, this “key” appointment is part of the company’s P&C expansion. Nayee will repo...
Posted: Sep 09, 2022
Reinsurance companies reported some fairly significant price increases during the 2022 renewals, but the impacts of inflation and adapted models have, for the most part, offset these rises, according to Christian Mumenthaler, Chief Executive Offic...
Posted: Sep 09, 2022
Global professional services firm Aon, has announced that Adriana Karaboutis, chief information and digital officer of National Grid plc, has been appointed to its Board of Directors. According to the announcement, the Board expects to appoint Kar...
Posted: Sep 09, 2022
Specialty insurer Brit has revealed that Matthew Wilson is set to resume his role as Group Chief Executive Officer (CEO), after taking an indefinite leave of absence due to health reasons. In September 2021, Wilson stepped down from his role to un...
Posted: Sep 09, 2022
Markel International, a subsidiary of Markel Corporation, has launched its new Media and Entertainment Policy Wording which combines Markel’s existing Media Production and Media Liability wordings into one comprehensive policy for production compa...
Posted: Sep 09, 2022
Specialty insurance brokerage and risk management firm, Risk Strategies, has appointed Steve Trimarchi as senior vice president, growth leader for the New England Region. Trimarchi brings more than 16 years of commercial insurance sales and servic...
Posted: Sep 09, 2022
South Korean digital insurance carrier Carrot General Insurance has secured a fresh funding of 300 billion Korean won (US $25 million). Led by private equity firm Affirma Capital, the capital will be raised across two connected rounds with wide pa...
Posted: Sep 09, 2022
Analysts at Fitch Ratings have suggested the catastrophe bond market will continue to develop given a rise in catastrophic events amid climate change. The demand for bonds issued via private placement by ILS is rising, suggests Fitch, with regular...
Posted: Sep 09, 2022
AM Best has revised its market segment outlook from stable to negative on the U.S. personal lines insurance segment following a significant deterioration in the reported results of personal automobile insurers. Other major factors include rising l...
Posted: Sep 08, 2022
Westfield Specialty, a U.S. property and casualty insurer, has accelerated its “rapid growth” with the acquisition of Lloyd’s Syndicate 1200 from Argo Group International Holdings, marking its entry into the international special...
Posted: Sep 08, 2022
The combination of the current inflationary trend and challenges in the property space is driving growth in values and total insurable values (TIVs), leading many buyers of reinsurance to seek more limit at the upcoming renewals. But as reinsurer...
Posted: Sep 08, 2022
Bermudian insurer and reinsurer, AXIS Capital Holdings Limited, has established a new division dedicated to servicing the wholesale market, which will be led by Carlton Maner as Chief Executive Officer (CEO) of AXIS Wholesale. The new unit brings...
Posted: Sep 08, 2022
Fitch Ratings has maintained its global reinsurance sector outlook at neutral and expects underlying profitability to remain broadly stable in 2022 and 2023. Demand for most reinsurance business should be relatively unaffected by the economic slow...
Posted: Sep 08, 2022
Ratings activity for the US life/health (L/H) segment in the first half of 2022 has been mixed, with the percentage of upgrades increasing while the percentage of downgrades decreased slightly, according to a recent report by AM Best. Additionally...
Posted: Sep 08, 2022
INSTANDA has announced the appointment of Liz Prior to its executive leadership team as Chief Financial Officer. A qualified actuary, Prior brings more than 13 years of experience in insurance, most recently as Managing Director at Hiscox Insuranc...
Posted: Sep 08, 2022
A new note from S&P says that Bermuda has become a global financial hub for property/casualty re/insurance, with a growing presence in life re/insurance. This, said the firm, had happened due to the amount of related premiums written by Bermud...
Posted: Sep 08, 2022
Aon has announced the appointment of William Bruce as Global Managing Director of Climate Risk Consulting. Bruce has over twenty-two years of consulting experience and was most recently Global Head of Enterprise Risk Consulting at Willis Towers Wa...
Posted: Sep 08, 2022
Demand for property reinsurance protection is expected to increase in 2023 at multiples of recent years, but despite numerous reinsurers announcing some form of retreat from the property catastrophe space, Guy Carpenter is confident the market wil...
Posted: Sep 08, 2022