Reinsurance News
International reinsurer, PartnerRe, has appointed Nicolas Georgy as Chief Underwriting Officer – Property, in the P&C Europe, the Middle East and Africa (EMEA) department. Georgy started his reinsurance career at PartnerRe, he joined the...
Posted: Sep 01, 2022
R&Q has named Hillary Jarvis as its new chief claims officer for North America. The firm said that Jarvis will report to Andrew Pinkes, global chief executive officer for legacy insurance. Her last position before joining R&Q was at Markel...
Posted: Sep 01, 2022
South African insurer Santam has reported its results for the first six months of 2022, which include a gross exposure of R4.4 billion (USD 257 million) to flooding in the KwaZulu-Natal province. However, the company’s net impact from the floods w...
Posted: Sep 01, 2022
Aon’s latest Q2 Market Dynamics Outlook: The United Kingdom has cast an eye over the country’s moderate markets. The firm said that the property market continued to stabilise in Q2 following previous underwriting adjustments, improved insurer resu...
Posted: Sep 01, 2022
New research from Gallagher suggests that UK councils are suffering a collective 10,000 cyber-attacks each day. The research, originating from a FOIA request from the firm, found that 2.3m attacks had been reported by 161 local authorities. Howeve...
Posted: Sep 01, 2022
Analysts at AM Best have flagged a number of significant headwinds for the Lloyd’s insurance and reinsurance market, including high inflation and the conflict between Russia and Ukraine. The rating agency acknowledged that considerable remedial an...
Posted: Sep 01, 2022
Health insurance provider, Bupa UK is now using WTW’s Radar Live as its lead pricing platform after both companies announced their new partnership with the re/insurance broker. The platform incorporates analytical and modelling methods to help cre...
Posted: Sep 01, 2022
Rating agency AM Bests’ latest reinsurance market report highlights that the global risk environment is continuing to get more complex, notably with traditional nat cat models being subjected to renewed scrutiny due to the increase in the frequenc...
Posted: Sep 01, 2022
SageSure Insurance Managers, an independent US residential property managing general underwriter, has announced the appointment of John Lummis as Executive Vice President of Capital & Risk Management. Lummis will focus on enhancing SageSure’s...
Posted: Sep 01, 2022
InsurTech McKenzie Intelligence Services (MIS) and Markel International, a subsidiary of Markel Corporation, have announced a partnership aimed to accelerate Markel’s incident and claims responses following major loss events, including natural cat...
Posted: Sep 01, 2022
S&P Global Ratings says in a new report that while the demand for cyber risk protection is growing, the capacity for reinsurance in this sector is not keeping the same pace. At the same time, S&P said, the conditions for insurance-linked s...
Posted: Aug 31, 2022
Arbol, a global climate risk solutions platform has partnered with Singapore-based insurer Singlife with Aviva to provide it a parametric rainfall insurance product for travellers. Singlife stated that it is the first insurer in Singapore to offer...
Posted: Aug 31, 2022
Buckle, a financial services company providing auto insurance solutions for the gig economy, and InsureScan, an upcoming auto insurance specialist, have entered into a managing general agency (MGA) agreement aimed to support Alabama drivers with t...
Posted: Aug 31, 2022
In the first half of 2022, the Directors’ & Officers’ (D&O) liability insurance market has seen significant reductions in premium across the board and limits increasing for Gallagher clients, according to a report by the insurance brokerag...
Posted: Aug 31, 2022
AIG’s National Union Fire Insurance Company has been sued by Sunoco subsidiary Aloha Petroleum for refusing to cover the costs of defending climate-related claims by local governments in Hawaii. It’s thought that this case could set a precedent as...
Posted: Aug 31, 2022
TigerRisk Partners has appointed Mitchell Rosenberg to be a new partner and managing director of TigerRisk Capital Markets & Advisory (TCMA), its investment banking division. Rosenberg is joining the firm from Aon, where he held the role of ma...
Posted: Aug 31, 2022
Freddie Mac’s single-family business has announced that its Credit Risk Transfer (CRT) program reported Q2 22 CRT issuance of approximately $6.5 billion, protecting approximately $151 billion in unpaid principal balance (UPB) of single-family mort...
Posted: Aug 31, 2022
Fitch Ratings has said that the North American property/casualty (P/C) insurance GAAP results for H1 2022 showed marginal operating earnings improvement, with sharp deterioration in personal lines performance amid rising inflation and accelerating...
Posted: Aug 31, 2022
Risk management and insurance company, NationsBuilders Insurance Services, Inc. (NBIS) – a subsidiary of DUAL North America, the US arm of DUAL, the Howden Group underwriting arm – has announced a new underwriting leadership structure...
Posted: Aug 31, 2022
S&P Global Ratings has released a new note, saying that the underwriting performance of Bermudian re/insurers has been lacklustre over the last five year with only a few companies being profitable. However, the organisation posited that better...
Posted: Aug 31, 2022
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group has promoted Adam Clark from his role as Financial Risk Solutions (FRS) Underwriter, to Senior Underwriter, FRS. Based in London, Clark will support the further development of...
Posted: Aug 31, 2022
Brazilian reinsurer IRB Brasil Re has sold off the building where its headquarters are currently located as part of its ongoing efforts to raise capital levels to a regulatory minimum. Last week, the reinsurer confirmed a new share offering as par...
Posted: Aug 31, 2022
Baldwin Risk Partners (BRP) has announced a partnership with cyber risk analytics specialist CyberCube, to power its cyber growth. With the partnership, BRP has gained access to a wide range of products and services including Broking Manager, Cybe...
Posted: Aug 31, 2022
Specialty and wholesale broker Accretive Insurance has announced that Fred Browning has joined the leadership team as Chief Underwriting Officer. Before joining Accretive, Browning served as the Chief Underwriting Officer for AmeriTrust Insurance....
Posted: Aug 31, 2022
NMI Holdings, Inc. has announced that National Mortgage Insurance Corporation, its wholly-owned insurance subsidiary, has entered into a new excess-of-loss (XOL) reinsurance agreement with a wide panel of highly rated reinsurers. Subject to custom...
Posted: Aug 31, 2022