Reinsurance News
United Insurance Holdings Corp. (UPC Insurance) has confirmed that it is effectively placing its personal lines subsidiary into run-off due to concerns over a lack of available reinsurance capacity. UPC reported last month that its Board had initi...
Posted: Aug 25, 2022
Amidst the hospitality sector’s recovery from the pandemic and rising inflation, re/insurance broker Lockton has warned businesses to closely evaluate building reinstatement values to avoid being inadvertently underinsured. The hospitality i...
Posted: Aug 25, 2022
Analysts at Moody’s have asserted that pricing conditions will remain favourable for reinsurers next year, with momentum expected to continue through the January 2023 renewal season. With the Atlantic hurricane still to run its course this year, t...
Posted: Aug 25, 2022
Legal & General Group’s Global Pension Risk Transfer (PRT) businesses have released the latest edition of the Global PRT Monitor, which analyses industry trends and market outlooks in the UK and US. According to the Monitor, both markets repor...
Posted: Aug 25, 2022
BMS Group (BMS), the independent specialist re/insurance broker, has announced the appointment of Germán Torres-Ortíz as managing director and head of Caribbean facultative business for BMS Re Latin America and Caribbean (LAC), effective August 29...
Posted: Aug 25, 2022
Specialist commercial re/insurer, CNA Hardy has added two new members to its London/Lloyd’s Management Liability team. Edward Crew was appointed Senior Technical Underwriter, and Oliver Devenish, Underwriter. Crew and Devenish will be based in Lon...
Posted: Aug 25, 2022
Aon has made three appointments to its ReSolutions structured finance team. The team, which sits within the Capital Advisory unit in the firm’s Reinsurance Solutions division, will be joined by Sherman Power, who becomes global head of innovation...
Posted: Aug 25, 2022
Compre is to acquire French firm MedMal from a Europe-based insurer following regulatory approval. The deal is structured as a loss portfolio transfer to be followed by a legal transfer. The portfolio contains legacy, live, and prospective risks t...
Posted: Aug 25, 2022
The Australian Prudential Regulation Authority (APRA) is finalising changes to six general insurance reporting standards that incorporate APRA’s earlier clarification of the treatment of reinsurance recoverables from the Australian Reinsurance Poo...
Posted: Aug 25, 2022
Bermuda-based life and annuity reinsurance company, Aspida Life Re has appointed Sheetal Chhiba as Deputy Chief Risk Officer. Chhiba has over ten years of insurance experience across Bermuda, the UK, and South Africa. Having consulted in Bermuda p...
Posted: Aug 25, 2022
Brazilian reinsurer IRB Brasil Re has announced a new share offering as the company looks to raise its capital level to meet the minimum requirements of local regulators after drought losses drove a large underwriting loss in the second quarter. I...
Posted: Aug 25, 2022
Swiss Re Corporate Solutions has appointed Annemarie Büttner as Lead Climate Risk Solutions. Making the announcement on LinkedIn, Büttner said: “In my new role, I work with corporations that need to understand how they will be impacted by climate...
Posted: Aug 25, 2022
A new note from Goldman Sachs says that all four large European cap reinsurers have underperformed the market so far in 2022. The firm said that this was because of higher inflation, higher weather losses, potential Russia/Ukraine losses, and COVI...
Posted: Aug 25, 2022
Aston Lark has announced that it has acquired AJ Insurance. Terms of the acquisition were not disclosed. AJ Insurance has a commercial focus, specialising in construction, motor fleet, and motor trade. It says that it also has a growing property a...
Posted: Aug 25, 2022
The founder of Kojo, Lara Varjabedian has released a report highlighting the changing relationship between insurers and insurtechs, noting the key friction points and the growing demand for partnerships rather than competition. The gap of understa...
Posted: Aug 25, 2022
Tokio Marine HCC (TMHCC) and Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF) have partnered up with Asian Development Bank (ADB), along with four other global insurers to participate in ADB’s new framework credit insurance program. The...
Posted: Aug 25, 2022
Financial services holding company Ambac, has announced a “strategic” partnership via a minority ownership stake in Embrace Partners, a tech-driven managing general underwriter (MGU) of specialty commercial insurance and surety. Embrace – wh...
Posted: Aug 25, 2022
Broker firm One80 has acquired Agentic for an undisclosed amount. A statement from One80 said that Agentic is a privately owned specialty wholesale operation providing highly consultative brokerage services for professional lines products includin...
Posted: Aug 25, 2022
Analysts at insurance research firm ALIRT have warned that the industry should remain attentive to the experience of residual market mechanisms in the most catastrophe-prone US states, which it says are an “important bellwether of availability and...
Posted: Aug 24, 2022
According to leading data and analytics company GlobalData, augmented reality (AR) is set to become a $152 billion market by 2030, and its use cases for the insurance sector are only growing. The company notes that the technology’s demand among in...
Posted: Aug 24, 2022
Insurtech platform Accelerant has launched a new $175 million sidecar investment vehicle, called Flywheel Re. The new sidecar will provide multi-year risk capital to Accelerant and its cohort of underwriting-led specialist members. Goldman Sachs &...
Posted: Aug 24, 2022
Global investment manager Barings has appointed Ken Griffin as the firm’s Head of Insurance Solutions, effective immediately. In this role, Griffin will be responsible for overseeing the delivery of customized solutions in order to meet the...
Posted: Aug 24, 2022
Fitch Ratings says that US personal auto insurers saw a sharp deterioration in underwriting performance for 1H22, according to mid-year segment results from public company GAAP filings, with many insurers’ combined ratio (CR) rising above 100% for...
Posted: Aug 24, 2022
AXA Climate, an entity of the AXA Group specialising in climate change adaption, has announced that it will include HWind analytics from RMS – a Moody’s Analytics risk modeling and solutions company, as a trigger metric for its relevant US paramet...
Posted: Aug 24, 2022
Global reinsurance rates have improved since 2018, yet reinsurers have started to reconsider whether rates are indeed allowing for sufficient margins, and to what extent cedents are pricing inflationary risks at source, according to AM Best analys...
Posted: Aug 24, 2022