Reinsurance News
The Council of Insurance Agents & Brokers (CIAB) has noted that the rapid increase in premiums seen in late 2020 and early 2021 continued to ease off in Q2 2022, with respondents to its market survey reporting an average increase in premiums a...
Posted: Aug 19, 2022
American International Group, Inc. (AIG) has announced the appointments of Alan Colberg and Trish Walsh to the Board of Directors of Corebridge Financial, Inc. (Corebridge) effective from the 1st of September 2022. Colberg previously served as the...
Posted: Aug 19, 2022
Allstate has said it is expecting catastrophe losses in July of $223m, or $176m after tax. The firm said that July catastrophe losses included 12 events, primarily wind and hail, that were geographically widespread, estimated at $233 million, part...
Posted: Aug 18, 2022
Legacy specialist Catalina Holdings has appointed Andrew Diaz-Matos as Chief Commercial Officer and Chief Legal Officer, where he will report to Group Chief Executive Officer Ian Parker, effective 15 August, 2022. Andrew takes over the Chief Comme...
Posted: Aug 18, 2022
Zurich Insurance Group has announced two new appointments to its Commercial Insurance Underwriting team. Stephen Moss joins as Group Head of Financial Lines and Cyber, and Andreas Schmitt joins as Group Cyber Underwriting Manager. Moss first began...
Posted: Aug 18, 2022
Growing awareness regarding the importance of insurance, alongside renewed economic growth post-pandemic have helped towards the growth of Asia-Pacific (APAC) public insurance companies, with the top 20 APAC insurers reporting an aggregate premium...
Posted: Aug 18, 2022
In a recent market bulletin, Lloyd’s, the oldest insurance and reinsurance marketplace in the world, has set out requirements for state-backed cyber-attack exclusions in standalone cyber-attack policies. In the report, the market affirmed that the...
Posted: Aug 18, 2022
Ivans has announced that its parent company, Applied Systems, has acquired Tarmika – a leading commercial lines rating solution that streamlines small business insurance. The acquisition is set to expand Applied’s commercial quoting and Ivans’ dis...
Posted: Aug 18, 2022
The re/insurers Arch, RenaissanceRe (RenRe), and SiriusPoint are well capitalised despite varying in financial performance, says a new note from Fitch Ratings. Fitch Ratings said that the combined ratios for RenaissanceRe and SiriusPoint improved...
Posted: Aug 18, 2022
OdysseyRe has gained a new vice president of treaty underwriting in Humberto Contasta. The announcement was made on LinkedIn and stated that Contasta would be joining the firm at its Miami office. He comes to OdysseyRe after nearly five years at T...
Posted: Aug 18, 2022
Descartes Underwriting, an insurtech company specialising in corporate insurance solutions to address climate and emerging risks, has opened its office in Frankfurt to drive collaboration with DACH based brokers and clients. With this launch, Desc...
Posted: Aug 18, 2022
QBE Re has said that Chris Killourhy is to become the new managing director of the firm from the beginning of September. The move, still subject to regulatory approval, will see Killourhy move from his current role as chief financial officer for Q...
Posted: Aug 18, 2022
Specialist re/insurance broker McGill and Partners has appointed Jacqueline Tovey to be a partner in its Facultative Reinsurance team. Tovey brings 25 years of experience in the insurance industry and has developed an extensive knowledge of operat...
Posted: Aug 18, 2022
FWD Group Holdings Limed (FWD) has partnered with Swiss insurtech dacadoo to launch the new mobile app, omne. omne is a well-being app designed to help people celebrate living through tools that foster micro-habits and achieve daily goals. The sel...
Posted: Aug 18, 2022
New research by KBRA says that Florida property insurers are facing storms on multiple fronts as the 2022 Atlantic hurricane season approaches its peak. The company’s work refers to the updated Atlantic hurricane season forecast that was released...
Posted: Aug 18, 2022
Insurance and reinsurance broker Lockton has made two senior appointments in Nashville & Tennessee. The company has announced that Barry Boster has been appointed Vice President and Producer to the firm’s Nashville office, as well as Jay...
Posted: Aug 18, 2022
The Ardonagh Group has reported a strong performance in income for the first half of 2022, as it increased by 37% (£162.2 million) to £595 million, compared to £433.2 million in the first half of 2021. The company noted that growth was achieved th...
Posted: Aug 18, 2022
Chubb’s Combined Insurance has appointed Michael Milos as Vice President of Distribution Expansion for Combined’s Canadian branch. He is based at Combined’s Markham, Ontario offices. As Vice President of Distribution Expansion Milos will be instru...
Posted: Aug 18, 2022
UK’s terrorism reinsurer Pool Re has launched a consultation process with its members about moving its reinsurance scheme to a catastrophe treaty reinsurance model. According to the announcement, this would be the start of a process examining a mo...
Posted: Aug 18, 2022
New analysis from Fitch Ratings shows that US mortgage insurance underwriting results in 1H22 were particularly strong as current-year loss activity is in line with pre-pandemic periods. However, the rating agency added that results were more than...
Posted: Aug 18, 2022
AM Best has downgraded the credit ratings of the members of the Bankers Insurance Group. The firm said that it was switching the Financial Strength Rating to B+ (Good) from B++ (Good) and the Long-Term Issuer Credit Ratings to “bbb-” (Good) from “...
Posted: Aug 18, 2022
Liberty Mutual Re has appointed Nick Noguera as a business development manager for the London Broker market. The firm said that Noguera will report to Miguel Martinez Alvarez with what it calls ‘a dotted line’ to Max Mallen and the portfolio team...
Posted: Aug 18, 2022
Boston-based insurtech, Ledgebrook, has announced that it has raised $4.2M in seed funding to build out its operations with the goal of writing its first policies in Q4 of 2022. The company plans to start by launching a broad-appetite E&S GL p...
Posted: Aug 18, 2022
AXA XL Insurance has appointed Sabrina Lahrmann as Senior Underwriter, International Property, UK & Lloyd’s, with immediate effect. Within her new role, Lahrmann will be responsible for helping to deliver the strategic and profitable growth of...
Posted: Aug 18, 2022
Greater uncertainty arising from global issues, like the COVID-19 pandemic and the Russia-Ukraine conflict, is driving more conservative reserving approaches in the global reinsurance industry, said AM Best in a recent market report. According to...
Posted: Aug 17, 2022