Reinsurance News
Prolonged economic weakness resulting from the energy crisis will impact overall demand for insurance and drive claims costs higher, according to analysts at the Swiss Re Institute. Europe is heavily exposed to the imminent energy crisis, which, a...
Posted: Aug 12, 2022
Cyber security software-as-a-service (SaaS) company CyberCatch has announced a strategic partnership with Ridge Canada Cyber Solutions Inc. (RCCS) to enable Canadian small and medium organisations (SMOs) to obtain cyber insurance. Approximately, t...
Posted: Aug 12, 2022
Home insurer Hippo Holdings Inc. has seen its total amount of generated premium grow 29% year-over-year to $204.1 million for the second quarter of 2022, from $158.7 million from the same period last year. The insurer noted that the growth was dri...
Posted: Aug 12, 2022
Broker firm McGriff is welcoming back Doug Hodo as he rejoins the firm as chief strategic growth officer. Starting his new role on August 15, Hodo will be reporting to Read Davis, CEO, McGriff Specialty and Middle Market. He will be responsible fo...
Posted: Aug 12, 2022
A Fitch Ratings report has said that the recent numerous inland flood events are expected to have a negligible credit impact on the U.S. P/C industry and are unlikely to affect individual insurers’ or reinsurers’ capital or earnings. D...
Posted: Aug 12, 2022
Hong Kong-based global reinsurer, Peak Re has appointed Piotr Nowakowski, currently Director, Head of Product Underwriting for Property and Casualty (P&C) business, as the Company’s Chief Underwriting Officer. Within this new role, Nowakowski...
Posted: Aug 12, 2022
Reinsurance and investment management holding company FG Financial Group has reported an increase in its reinsurance premiums despite seeing a net loss in the second quarter of 2022. FGF’s net premiums earned increased from $0.9mn in Q2 2021, to $...
Posted: Aug 12, 2022
Tokio Marine Asia has announced a strategic partnership with Arbor Ventures, a leading global Fintech/InsurTech-focused venture capital (VC) firm headquartered in Singapore. The partnership marks Tokio Marine’s commitment to accelerating the digit...
Posted: Aug 12, 2022
The latest results from Australian firm IAG indicate that gross written premiums rose 5.7% between FY 2021 and FY 2022. However, the firm reported that its insurance margin of 7.4% was lower than its expectations. That was because, it wrote in the...
Posted: Aug 12, 2022
International specialty insurance firm Ryan Specialty Group has posted revenue of $491.3 million for the second quarter of 2022, representing growth of 26% over last year, including 22.3% of organic revenue growth. The firm explained that the high...
Posted: Aug 12, 2022
Ransomware continues to be largely responsible for the insurable cyber losses experienced by companies, with the maritime sector and satellite infrastructure being more likely to be targeted by cyber criminals, according to a recent report. Additi...
Posted: Aug 12, 2022
Brookfield Reinsurance has reported that its total assets rose from $2,640m at the end of Q2 2021 to $41,019m at the end of Q2 2022. The news come months after the firm said it had seen a huge increase in its net income throughout Q1 2022. Back th...
Posted: Aug 12, 2022
New analysis from Fitch Ratings says that the capital adequacy of large global reinsurers remained at least ‘Strong’ at the end of last year. The analysis also found that the group—comprising Hannover Re, Lloyd’s of London, Munich Re, PartnerRe, S...
Posted: Aug 12, 2022
Tokio Marine HCC International (TMHCCI) has announced that its London Market operations, which includes GCube, will be moving from their current separate offices in to one consolidated location on floor 6 of 20 Fenchurch Street – commonly known as...
Posted: Aug 12, 2022
The latest results from Conifer show that firm saw gross written premiums in Q2 2022 being 7% than at the same point in 2021. According to Conifer, gross written premiums at the end of Q2 2021 were $35m, but have since risen to $37.4m. The firm al...
Posted: Aug 12, 2022
Global law firm Norton Rose Fulbright has announced the arrival of a four-person insurance corporate regulatory team to be based in New York and Los Angeles. The team will be comprised of partner Robert Romano and Stewart Keir who join Locke Lord...
Posted: Aug 12, 2022
Losses from record rain-induced floods in Korea should be manageable for Korean property and casualty insurers, with reinsurers like Korean Reinsurance Co. also being able to absorb the rainfall losses. Homes, roads and subway stations in the Sout...
Posted: Aug 12, 2022
Rating agency AM Best has maintained a stable outlook on the Malaysian non-life insurance industry segment due to its underwriting discipline and the market’s recovery following the economic fallout from Covid-19. According to the agency’s “Market...
Posted: Aug 11, 2022
Businesses “must think carefully about protecting themselves from a likely increase in damage” caused by growing social unrest in Latin America, mainly driven by inflation on top of the economic and social stress initially caused by COVID, said Ch...
Posted: Aug 11, 2022
Cowbell Cyber is partnering up with Swiss Re to bring insurance to firms using Amazon Web Services (AWS) and have revenues of up to $750m. According to the two firms, the program grants customers access to Cowbell Factors which provide a relative...
Posted: Aug 11, 2022
Broker WTW, has announced that it has appointed Blake Koen to join the company’s rapidly expanding energy team in Houston as managing director, global client advocate, natural resources for its North America business. Within this role, Koen will h...
Posted: Aug 11, 2022
Florida’s residual market insurer, Citizens Property Insurance Corporation, has now surpassed more than 1 million policies, the first time it has been at this level of portfolio exposure, in terms of policy count, since 2013. Florida Citizens had...
Posted: Aug 11, 2022
Talcott Resolution has executed a flow reinsurance transaction between itself and an unnamed US annuity writer. The firm said in a statement that under the terms of the agreement, Talcott will reinsure a quota share of the cedant’s innovativ...
Posted: Aug 11, 2022
Victor, a global managing general underwriter (MGU), has announced the appointment of John Tarpey as Leader of its US reinsurance operations. In this role, he will be responsible for the Regional Treaty Services Corporation (RTSC) business that Vi...
Posted: Aug 11, 2022
An issues brief published by the Insurance Information Institute (Triple-I) has affirmed that the turmoil in Florida’s homeowners insurance market is due to the state’s outsized number of lawsuits and its commonplace fraud schemes. The net underwr...
Posted: Aug 11, 2022