Reinsurance News
Legal & General Retirement America (LGRA) closed $735 million in pension risk transfer transactions in Q2 2022, marking the largest quarter to date for the organisation. From April through June, the firm closed four transactions to secure cove...
Posted: Aug 16, 2022
Edmund Reese will join the Hartford’s board of directors in the middle of October, according to a statement from the company. According to The Hartford, Reese will serve on its Finance, Investment, and Risk Management and Audit Committees. He is c...
Posted: Aug 16, 2022
Global insurer Chubb has announced the appointment of Martin Audis as Senior Underwriter General Aviation for Chubb Global Markets (CGM). Audis joins Chubb from Nexus Underwriting Limited, where he was a Senior Aviation Underwriter for six years....
Posted: Aug 16, 2022
Brazilian reinsurance company IRB Brasil Re has reported an underwriting loss of R$661.0 million (US $129.1 million) for the second quarter of 2022 as drought losses hit its agriculture business. The announcement comes just ones day after reports...
Posted: Aug 16, 2022
Fitch Ratings has given the Large and Highly Rated Mutual US Life Insurers peer group an Insurer Financial Strength (IFS) score ranging from ‘AA+ to ‘AAA’. This is driven chiefly by the mutual insurers’ capital positions. Compared with stock compa...
Posted: Aug 16, 2022
Midwest Holding Inc. has announced a GAAP net income of $9.3 million for the second quarter of 2022, against a loss of $5 million for the prior year period. Alongside the year-on-year improvement in net income, Midwest also reported a substantial...
Posted: Aug 16, 2022
777 Partners backed insurer Brickell PC Insurance Holdings has written an open letter to the shareholders of R&Q Insurance Holdings expressing concern about the “recent significant deterioration of the business.” Brickell had been set to acqui...
Posted: Aug 16, 2022
HowdenCAP and Mosaic are teaming up to integrate their technology platforms. The former, a division of broker firm Howden, will work with the specialty carrier to ‘drive efficiency and speed of risk placement’ in the structured credit insurance ma...
Posted: Aug 16, 2022
In a recent UK risk settlement bulletin, insurance and reinsurance broker Aon has outlined the opportunities for sub £100 million transactions within the industry. The bulletin notes then insurers are more likely to attain a steady flow of busines...
Posted: Aug 16, 2022
In a recent UK risk settlement bulletin, insurance and reinsurance broker Aon has outlined the opportunities for sub £100 million transactions within the industry. The bulletin notes then insurers are more likely to attain a steady flow of busines...
Posted: Aug 16, 2022
Probitas has said in its latest results that following a mid-year pre-emption of the 2022 Year of Account, gross written premiums for its Syndicate are expected to increase from an original plan of £202.5m to £223.5m. A further 22% increase to £27...
Posted: Aug 16, 2022
Argo Group has appointed former Guide One CEO Jessica Snyder to be its president of US insurance. Snyder will begin in her new role immediately and is set to report to Tom Bradley, executive chairman and chief executive officer of the firm. She jo...
Posted: Aug 16, 2022
Oxbridge Re has said in its latest results that it saw a net loss in income of $310,000 in the first six months of the year. This compares with the same period last year in which the firm reported a net income of $476,000. It also said that net in...
Posted: Aug 16, 2022
Ryan Specialty Group (RSG) has made several senior appointments within RSG Underwriting Managers. Brian Lillis has been appointed as Chief Operating Officer. He has been with Ryan Specialty Underwriting Managers for nine years, and has served in a...
Posted: Aug 16, 2022
New analysis from broking firm WTW shows that capacity stabilized for most cyber re/insurance market segments in Great Britain (GB) during Q2, with increased competition noted in some areas as available capital grows. Looking at key developments i...
Posted: Aug 16, 2022
Compre, the Bermuda headquartered, international legacy group, has acquired the hospital liability (MedMal) portfolio of German insurer Basler Sachversicherungs-AG, an entity of the Baloise Group. The deal, structured as a portfolio transfer, is a...
Posted: Aug 16, 2022
The insurance markets in the MENA region are facing a number of wide-ranging challenges after years of robust growth, says a new note from AM Best. The firm said in its newest Best’s Market Segment Report that the lingering effects of the Covid-19...
Posted: Aug 16, 2022
A Fitch Ratings report has estimated insurance losses from the severe floods in South Korea will place pressure on the financial performance of the country’s non-life insurers. Industry estimates indicate that insurance claims from the flooding ar...
Posted: Aug 16, 2022
As the effects of Covid-19 start to clear, there is a renewal of interest and activity on the horizon in Hong Kong’s Insurance market from some of the largest Western international insurance groups, says a recent PWC report. The Special Administra...
Posted: Aug 16, 2022
A climate insurance pilot for agricultural value chains has been launched for Côte d’Ivoire rice farmers, initiated by the African Risk Capacity Limited (ARC Ltd), the Côte d’Ivoire Environment and Sustainable Development Ministry (MIN...
Posted: Aug 16, 2022
A recent AM Best report suggests that companies continue to actively shrink their property cat exposures to avoid perils and reduce volatility. Some have even modified their organizational structures or exited the property cat space altogether, th...
Posted: Aug 15, 2022
Cigna Corporation is to expand its Cigna + Oscar small business health insurance into the Philadelphia metro area. Following regulatory approval, the insurer said the product will go out across the territory into the counties of Bucks, Chester, De...
Posted: Aug 15, 2022
Re/insurance broker Aon has announced a new collaboration between its Impact Forecasting team, the University of California, Merced and the University of California, Los Angeles to implement the latest climate change science and research into Aon’...
Posted: Aug 15, 2022
Insurance sector codes in the Bermuda Monetary Authority Act 1969 (BMA Act) have been revised as part of the passing of a bill to amend the BMA Act by adding a principal object to cover matters related to the conduct of business by financial insti...
Posted: Aug 15, 2022
CNA Hardy has named Raphael Borrel as its new director of risk management. In his new role, Borrel will be responsible for developing the risk strategy and framework, and providing leadership to the Risk function. He will continue to be based in L...
Posted: Aug 15, 2022