Reinsurance News
Gallagher Re has hired Alexandre Delacroix to the role of executive director within its EMEA West & South team. In his new Paris-based role, Delacroix will focus on a range of capital market activities, including ILS and collateralised reinsur...
Posted: Aug 31, 2022
According to a Moody’s Investors Service report, falling bond and equity prices resulted in a significant decline in reported shareholders’ equity, though capital adequacy remains a key strength for Europe’s big four reinsurers, confirming t...
Posted: Aug 31, 2022
Global advisory, broking and solutions company, WTW, has announced the appointment of Dominick Williams as Head of Distribution Advisory for its Insurance Consulting and Technology (ICT) business in Asia Pacific (APAC). In his new position he will...
Posted: Aug 31, 2022
Heightened geopolitical risk is driving growing demand for export credit insurance, despite the dampening effects on trade of a decidedly bleak economic outlook. This is according to the latest business confidence survey conducted by Berne Union,...
Posted: Aug 31, 2022
AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of members of the Vault Insurance Group. The outlo...
Posted: Aug 31, 2022
Inflation and natural catastrophes are set to moderately increase pricing and squeeze underwriting margins in the Asian reinsurance market, says Fitch Ratings. According to Guy Carpenter, risk-weighted prices rose by 1%-5% in Japan for programmes...
Posted: Aug 31, 2022
The insurance arm of Warren Buffett’s global insurance and reinsurance company, Berkshire Hathaway Specialty Insurance Company (BHSI), has appointed Mohammed Hannoun Head of Casualty for the Middle East. With more than 12 years of industry e...
Posted: Aug 31, 2022
In her speech at the Risk Australia 2022 conference, APRA Deputy Chair, Helen Rowell commented on the issues arising from the unclear pandemic coverage under Business Interruption (BI) insurance, outlining the significance of learning from this ex...
Posted: Aug 31, 2022
With interest rates having already risen across the UK and Europe and further hikes expected in the coming months, analysts at Goldman Sachs have predicted that higher interest rates will prove beneficial to reinsurance companies in the long term....
Posted: Aug 30, 2022
Sompo has sold its Endurance at Lloyd’s (EAL) run-off business to Riverstone International. The firm said in a statement that this deal effectively completed its previously communicated objective to consolidate its UK presence into one company mar...
Posted: Aug 30, 2022
Everest Reinsurance, the reinsurance division of Everest Re Group, has announced the appointment of Kevin Bogardus as Senior Vice President, Head of Business Development Asia Pacific, effective September 8, 2022. In this newly created role, he wil...
Posted: Aug 30, 2022
Peak Re has seen its insurance financial strength rating (IFSR) downgraded to Baa1 from A3 by Moody’s. Moody’s said it has also downgraded the backed subordinated debt rating on the subordinated perpetual securities issued by Peak Re (BVI) H...
Posted: Aug 30, 2022
Legacy acquirer, DARAG Group concluded a new agreement with an undisclosed captive insurance company, with a transaction value of approximately $30 million. The transaction, written into DARAG Bermuda, allows the original insurer full legal finali...
Posted: Aug 30, 2022
AM Best has estimated that global reinsurance capital levels will shrink by the end of the year. A new note from the firm says that it expects to see a decline in overall available capital from its observation of the reaction of investment markets...
Posted: Aug 30, 2022
Reliance Partners, the transportation sector focused commercial insurance broker, has announced a new investment from Carousel Capital, a private investment firm based in Charlotte, North Carolina. In order to recapitalise the firm, Carousel Capit...
Posted: Aug 30, 2022
Sarah Freitag has joined insurance and reinsurance broker Aon from Gallagher Re, taking on the role of Executive Managing Director, Head of E&S Specialty P&C. Based in New York, Freitag joins Aon after spending roughly 10 months with reins...
Posted: Aug 30, 2022
Gen Re, the global reinsurance subsidiary of Berkshire Hathaway, has appointed Himanshu Shah as Senior Vice President (SVP) for its Regional & Specialty Unit. Shah joins from Munich Re US, where he most recently served as SVP, Senior Client Ma...
Posted: Aug 30, 2022
AXA XL has appointed Bertrand Romagne to the role of CEO for XLRE Europe. The firm said in a LinkedIn post that it was proud that Romagne, with thirty years’ experience, was taking on the role. It said: “In addition to his international region lea...
Posted: Aug 30, 2022
Everest Insurance has made two appointments to its US wholesale division. The firm said in a statement that it had appointed Casey Hartley as senior vice president and head of US wholesale casualty and Danielle Stewart as vice president and nation...
Posted: Aug 30, 2022
The Insurance Council of Australia (ICA) has estimated that $5.28 billion is the cost of this year’s floods across South-East Queensland and northern New South Wales. Severe flooding impacted these states around six months ago; induced by an exten...
Posted: Aug 30, 2022
R&Q has hit back at the open letter published by Phoenix last week. The firm said the letter, which was published on 25 August, contained ‘a significant number of factual inaccuracies and misrepresentations’. The statement from R&Q states...
Posted: Aug 30, 2022
Financial services, like insurance, are feeling the impact of rising inflation, labour shortages, supply chain disruption and sharp falls in consumer and business confidence that the UK economy is currently facing. According to the latest CBI/PwC...
Posted: Aug 30, 2022
The latest Lloyd’s Market 2022 Review states a belief that the market will post a robust underwriting performance between 2022 and 2024 as rates harden over many lines after turning in 2021 its first underwriting profit in five years. The report,...
Posted: Aug 30, 2022
S&P Global Ratings’ latest Lloyd’s Market 2022 Review states a belief that the market will post a robust underwriting performance between 2022 and 2024 as rates harden over many lines after turning in 2021 its first underwriting profit i...
Posted: Aug 30, 2022
Terry Ledbetter and Luke Ledbetter, formerly of State National Companies, have announced the establishment of a new company which acts as the exclusive producer for four A.M. Best “A-” rated carriers, called Kestrel Group. The four car...
Posted: Aug 30, 2022