Reinsurance News
Safety National, a multi-line specialty re/insurer and member of the Tokio Marine Group, has appointed Steven Anderson as Director of Cyber Underwriting. He will be based out of Safety National’s Dallas, Texas, office. Anderson brings nearly 30 ye...
Posted: Aug 08, 2022
Australian primary insurer Suncorp has reported a 34% decline in net profit to AUD 681 million for fiscal year 2022, as natural hazard costs exceeded budget in the period by AUD 101 million, leading to significant reinsurance recoveries. For the f...
Posted: Aug 08, 2022
R&Q is reporting an 82% increase in gross written premiums for the first six months of this year. The firm said in a statement that these had increased from $445m in H1 2021 to $807m in H1 2022. Program Fee Income in this period rose by 105%,...
Posted: Aug 08, 2022
Last week’s edition of Love Actuary, by JP Morgan, suggests turnarounds in P&C take time, there is no such thing as a very quick fix. The report states that P&C can be a cynical industry, even in the most vanilla products such as Mot...
Posted: Aug 08, 2022
Life consolidator Phoenix Group is set to acquire Sun Life UK, a closed book UK life insurance company, for £248 million, funded from existing cash resources. The deal is expected to deliver c.£470 million of incremental long-term cash generation,...
Posted: Aug 08, 2022
AmTrust Europe Limited, a subsidiary of AmTrust Financial Services, has made two new board appointments as it looks to pursue growth in key lines of business. Andrew Bulley has been appointed Chair of AEL’s Board and Chair of its Remuneratio...
Posted: Aug 08, 2022
The Insurance Council of Australia (ICA) has announced acknowledgement of the High Court’s request to hear arguments on the applications for special leave to appeal the Full Court of the Federal Court of Australia’s recent judgment on the interpre...
Posted: Aug 08, 2022
Rating agency AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-“ (Excellent) of StarStone Specialty Insurance Company and Star...
Posted: Aug 08, 2022
Japanese insurance group Mitsui Sumitomo has been reported to be on the verge of a $400 million acquisition of hybrid P&C program and fronting carrier specialist Transverse Insurance Group. Japanese newspaper the Nikkei reported the news and s...
Posted: Aug 07, 2022
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, had another very successful quarter in its P&C reinsurance business in Q2 2022, with the unit driving an improvement in underwriting result across its insurance enter...
Posted: Aug 06, 2022
Insurtech platform and FinTech company Arbol has announced the formation of Climate Risk Insurance Company – the first captive insurance company dedicated to climate risk management. Based in Connecticut, Climate Risk Insurance Company will focus...
Posted: Aug 05, 2022
AXA XL has appointed Greg Johnson as lead Underwriter for War, Terrorism and Political Violence (WTPV) business for the Western Region of the US. Within this role, Johnson will be based in Los Angeles, where he will focus on growing the west coast...
Posted: Aug 05, 2022
Tokio Marine’s international businesses produced a profit of JPY66.9 billion for the first quarter of the 2022 fiscal year, representing year-on-year growth of 15%, driven by a 22% rise in profit to JPY68.9 billion within non-life operations...
Posted: Aug 05, 2022
MS Amlin, a specialist re/insurer, has reported its fiscal year 2022 first quarter results, which saw a higher net loss driven by the impact of losses related to Russia and Ukraine, and a negative investment performance. For this year’s Q1, MS Aml...
Posted: Aug 05, 2022
Gemini Financial Holdings Corporation (GFHC), the parent company of Olympus Insurance Company, has appointed Mindy Barker to the position of Chief Financial Officer. Barker brings more than 30 years of experience towards the role. She brings a wid...
Posted: Aug 05, 2022
Sompo International’s net result for the first-quarter of the 2022 fiscal year has fallen by $274 million, leading to a net loss of $239 million for the period. However, the firm’s underwriting income improved by an impressive 89% to $...
Posted: Aug 05, 2022
Becky Allison has been announced as the new Chief Operating Officer (COO) of re/insurance broker Aon’s Strategy and Technology Group (STG), Reinsurance Solutions, based in London. In her new role, Allison takes on responsibility for the day-...
Posted: Aug 05, 2022
Carrick Capital Partners has appointed industry veteran, Kari L. Niblack, as the President of Blackwell Captive Solutions, a Carrick-sponsored medical stop-loss group captive management company. Niblack has been an Employee Retirement Income Secur...
Posted: Aug 05, 2022
According to GlobalData, the marine, aviation, and transit (MAT) insurance industry is estimated to grow at a compound annual growth rate (CAGR) of 6.4% from 2021-26, supported by increasing trade activities, recovery in flight services, and deman...
Posted: Aug 05, 2022
Rating agency AM Best has appointed Rob Curtis as managing director of market development for the Asia-Pacific region. He will be based in Singapore and will report to Andrea Keenan – Executive Vice President and Chief Strategy Officer. The...
Posted: Aug 05, 2022
Re/insurance service provider, Xceedance has announced that Extraordinary Re, a platform for the daily training of insurance liabilities, will adopt its actuarial and analytics services. Xceedance will support disciplined underwriting and furnish...
Posted: Aug 05, 2022
Global provider of life reinsurance, Reinsurance Group of America (RGA) reported a growth in premiums of 4.3% over last year’s second quarter despite a fall in its net income. Additionally, COVID-19 claim costs came down considerably in Q2 2022. R...
Posted: Aug 05, 2022
Super-regional property and casualty insurance holding company, Heritage Insurance Holdings, has seen its net loss widen in the second-quarter of 2022, driven by a net $90.8 million non-cash goodwill impairment charge. For Q2 2022, Heritage has po...
Posted: Aug 05, 2022
Investment holding company Alleghany Corporation has seen net premiums written for its reinsurance business TransRe decrease 9.1% in the second quarter of 2022. At the same time net premiums written for H122 decreased 5.9% compared to the same per...
Posted: Aug 05, 2022
A strong performance within its property and casualty (P&C) business so far in 2022 has helped Allianz report a rise in operating profit for the first half of the year of 1.2% to €6.7 billion, while net income for the period dipped as a result...
Posted: Aug 05, 2022