Reinsurance News
A recent Fitch Ratings report has said U.S life insurers’ commercial mortgage fundamentals have largely recovered since the pandemic, with stable property outlooks for hotel, office retail, and multifamily sectors. The Federal Reserve’s monetary t...
Posted: Aug 15, 2022
VIPR, an insurance industry IT solutions provider, has appointed Gregory J. Massey to the role of North American Advisor. Massey brings nearly 40 years’ experience in commercial lines underwriting. He joined VIPR following his retirement from Zuri...
Posted: Aug 15, 2022
AXA Investment Managers has appointed Tim Banks as its new sales director for UK institutional core clients. The company said that Banks will be an additional resource to continue the growth of AXA IM’s business in the UK institutional market and...
Posted: Aug 15, 2022
Commercial insurance and reinsurance broker, Oneglobal Broking, is welcoming three new members to their Brazil reinsurance team. Bruna Pesenato Xavier has been appointed P&C and Construction reinsurance broker; Caroline Morett as Oil & Gas...
Posted: Aug 15, 2022
Growing insurtech Lemonade has secured catastrophe excess-of-loss reinsurance to protect its business at the July 1 2022 renewals. The insurtech company continues to utilise reinsurance more for capital efficiency reasons than for risk management,...
Posted: Aug 15, 2022
Global insurer and reinsurer SCOR has promoted Cyril Neyme to Senior Underwriter – Head of Alternative Solutions for the Americas. Within this role, he will continue to based in New York. Most recently, Neyme served as SCOR’s Vice President for it...
Posted: Aug 15, 2022
Allianz Global Corporate & Specialty’s Global Claims Review 2022 says that fires and explosions (excluding wildfires) are the single largest identified cause of corporate insurance losses, accounting for 21% of the value of all claims. Accordi...
Posted: Aug 15, 2022
IT downtime coverage provider Parametrix Insurance has announced the launch of a new product that aims to protect businesses from the financial fallout of third-party content delivery network (CDN) outages. Parametrix CDN Downtime Insurance is des...
Posted: Aug 15, 2022
Third-party litigation funding (TPLF) is a multi-billion-dollar industry that drives up insurance costs and remains a hidden secret to most Americans, says a recent Triple-I report. TPLF is an industry that mostly stays under the radar, allowing i...
Posted: Aug 15, 2022
The 2022 combined ratio for the property/casualty insurance industry is forecast to be 100.7, a worsening of 1.2 points relative to 2021, driven by significant deterioration in the personal auto line. This is according to the latest underwriting p...
Posted: Aug 15, 2022
Phoenix Asset Management Partners has called for William Spiegel, executive chairman of R&Q, to be removed as a director of the company. The former, which holds a quarter of the firm’s share capital, said in an open letter that it wished for S...
Posted: Aug 15, 2022
Phoenix Asset Management Partners has called for William Spiegel, executive chairman of R&Q, to be removed as a director of the company. The former, which holds a quarter of the firm’s share capital, said in an open letter that it wished for S...
Posted: Aug 15, 2022
According to a new report by rating agency AM Best, the US captive insurance market segment continued to generate profits and surplus gains in 2021, while outperforming its commercial market peers. The report, titled “U.S. Captive Insurance: Stepp...
Posted: Aug 15, 2022
Brazilian reinsurance company IRB Brasil Re is reportedly set to announce a new share offering, as it seeks to raise close to US $300 million. First reported by Brazil Journal, the reinsurer is said to be preparing the share offering in response t...
Posted: Aug 15, 2022
Himalayan Re has invested in Synergy2 – Eurobase’s platform for global reinsurers, to support its end-to-end reinsurance operations. The Synergy2 platform is a release-based solution helping reinsurers achieve sustainable, strategic growth in the...
Posted: Aug 15, 2022
Crestline, a credit focused institutional asset manager, has announced the acquisition of a life insurance company established in 1978 and licensed in multiple states, which will now operate as CL Life and Annuity Insurance Company (CL Life). Thro...
Posted: Aug 15, 2022
The rate of suspected global digital fraud attempts in the insurance industry has experienced the greatest rise on a year-over-year basis, increasing 159% between Q2 2021 and Q2 2022, according to a report by TransUnion. TransUnion examined intell...
Posted: Aug 15, 2022
Applied Systems has announced the second quarter of 2022 results of the Applied Commercial Index, the Canadian insurance industry’s premium rate index. The rating company discovered that quoted premiums for both Personal Auto lines and Personal Pr...
Posted: Aug 15, 2022
Lemonade has said it is to cede 55% of its gross premiums to the quota sharing reinsurance program it entered into two years ago, down from the original 75%, and the 70% it had reduced the cession rate to last year. The announcement was made in th...
Posted: Aug 12, 2022
Japanese insurer Dai-ichi Life Holdings has acquired New Zealand firm Partners Life as a wholly owned subsidiary. Under the terms of the acquisition, Partners Life will become a part of the consolidated group of Dai-ichi Life Holdings. It currentl...
Posted: Aug 12, 2022
The growth in the cyber insurance market is due more to rate adjustments than increases in the volume or size of contracts, says S&P Global Ratings. Despite being the fastest-growing sector, Manuel Adam, analyst at the firm, said that the mark...
Posted: Aug 12, 2022
Extremely high temperatures coupled with a lack of rain are set to create perfect conditions for wildfires across the UK. GlobalData has warned insurers to brace themselves for a rise in home insurance claims as flames spread to inhabited areas. T...
Posted: Aug 12, 2022
The Bermuda Monetary Authority (BMA) has issued a new guidance note on the management of climate risk for commercial insurers. The guidance note outlines the BMA’s expectations for commercial insurers and insurance groups regarding their managemen...
Posted: Aug 12, 2022
A prolonged deterioration in the earnings of Kemper P&C and Kemper Corp last year and into 2022 is the reason given by AM Best for its decision to downgrade the firms’ Financial Strength Ratings (FSR). AM Best said in a statement that it was d...
Posted: Aug 12, 2022
Data for July 2022 from Florida’s largest P&C insurers shows the number of new litigated claims dropped 4% from June’s results, according to CaseGlide. The data firm said that July’s total of 4,091 is down slightly from June’s figure of 4,261,...
Posted: Aug 12, 2022