Reinsurance News
Liberty Mutual Insurance has announced the appointments of two new underwriting leaders within Global Risk Solutions (GRS) Underwriting. Brandon Fick will join the company as North America Chief Underwriting Officer and Nate Zangerle is named Chie...
Posted: Aug 05, 2022
The expectation is that the 2022 Atlantic Hurricane season will still experience an above-average level of activity, despite both Colorado State University (CSU) and the National Oceanic and Atmospheric Administration (NOAA) lowering their forecas...
Posted: Aug 05, 2022
National insurance program manager, Distinguished Programs has promoted Donna Percival and Erick Schmitt to the newly created position of Regional VPs of Sales. Percival will oversee sales initiatives in the West & Midwest U.S., while Schmitt...
Posted: Aug 05, 2022
The Jensten Group, one of the UK’s leading insurance distribution businesses, has completed a deal to acquire managing general agent (MGA), Origin UW Limited, following regulatory approval. Origin UW is a ‘boutique’ MGA that provides commerc...
Posted: Aug 05, 2022
Property and casualty insurance underwriting agency, Tokio Marine Highland has announced three appointments within its Specialty Property Division. Linda Long has been named Chief Administrative Officer, in her new role she will be responsible for...
Posted: Aug 05, 2022
Spring Insure, the specialist MGA, has announced the launch of its commercial cyber offering, tailored for SMEs. The company says cyber cover is an addition to the existing product suite of financial institutions and Directors & Officers cover...
Posted: Aug 05, 2022
Moody’s has assigned a Baa2 Long-Term Issuer rating to Fidelis Insurance Holdings Limited (FIHL) and A3 Insurance Financial Strength (IFS) ratings to its key (re)insurance operating subsidiaries, with a stable outlook for the group. Even though th...
Posted: Aug 05, 2022
S&P Global Ratings report that persistent pressures from inflation, tightening financial conditions and slower economic growth in China and other markets are likely to cause constraints on operating conditions for property/casualty (P/C) insur...
Posted: Aug 04, 2022
Global M&A insurance specialist, Fusion Specialty, has appointed Richard Liu as partner in its new US operation, Fusion Americas. According to the firm, Liu will play an integral role in cementing the MGA’s global capability and presence in No...
Posted: Aug 04, 2022
Non-life insurance run-off deals continue to increase, with the announcement of 18 deals and an estimated $5.4bn disclosed gross liabilities transacted through the first half of 2022. The sector has continued to see a variety of deal sizes with de...
Posted: Aug 04, 2022
Selective Insurance has reported a second quarter net income of $37.2 million, a significant fall compared to the $119.6 million reported in the same period last year. Despite this, net premiums written (NPW) increased 12%, to $930.7 million compa...
Posted: Aug 04, 2022
JC Flowers & Co. LLC, a leading private investment firm dedicated to investing globally in the financial services industry, has completed fundraising for its fifth private equity fund – JC Flowers V LP with more than $1.1 billion in comm...
Posted: Aug 04, 2022
Re/insurer Liberty Mutual Holding Company has fallen to a net loss of $343 million for the second-quarter of 2022 on the back of investment market volatility and elevated catastrophe losses. The Q2 2022 net loss compares with income of $769 millio...
Posted: Aug 04, 2022
Specialty insurance and reinsurance company, Convex Group Limited, has made a “strategic investment” and acquired a 7.7% share in Quotech, an underwriter-led insurtech. Quotech has raised one million pounds from a number of angel investors and Con...
Posted: Aug 04, 2022
Allstate has announced a second quarter net loss applicable to common shareholders of $1.04 billion, compared to an income of $1.60 billion in the prior year quarter. The company noted that the loss was primarily due to lower underlying underwriti...
Posted: Aug 04, 2022
The Centauri insurance companies, which operate in Hawaii and along many of the coastal states in the U.S., have had their ‘A’ (Exceptional) rating affirmed by Demotech, a move it says reflects disciplined underwriting and its robust r...
Posted: Aug 04, 2022
SiriusPoint Ltd. has reported a net investment loss of $142 million in the second quarter of 2022, taking the company’s total net investment loss for 1H22 to $347 million. At the same time, the company reported a core income of $20 million for the...
Posted: Aug 04, 2022
Global reinsurance broker, Gallagher Re, has welcomed Accord Mortgages as the latest UK lender to join Deposit Unlock, a reinsurance-backed mortgage indemnity scheme. After joining this scheme, Accord Mortgages can now lend up to 95% loan-to-value...
Posted: Aug 04, 2022
Specialty property insurer Palomar Holdings has reported gross written premium (GWP) of $218.7 million for the second quarter of 2022, a huge increase of 69% compared to $129.4 million from the prior year quarter. The company also reported a net i...
Posted: Aug 04, 2022
Investment in the insurtech space in the second-quarter of 2022 increased by 8.3% from the opening quarter of the year to $2.41 billion, as a rise in the average deal size masked a decline in the overall number of deals, according to reinsurance b...
Posted: Aug 04, 2022
Sharon Ooi of Swiss Re is set to join reinsurer Hannover Re’s Executive Board to strengthen its focus on Asia in January 2023, primarily based in Hong Kong. In her new role, Ooi will oversee the further expansion of the company’s prope...
Posted: Aug 04, 2022
Global reinsurance giant Swiss Re has enhanced its insurance-linked securities (ILS) offering with the launch of Swiss Re Insurance-Linked Investment Advisors Corporation (SRILIAC), a new investment advisory entity with a particular focus on catas...
Posted: Aug 04, 2022
Bermuda-based reinsurer PartnerRe has reported a loss of more than $1.1 billion for the first half of 2022, driven by unrealised losses on fixed maturities as a result of rising interest rates, while the firm’s underwriting performance impro...
Posted: Aug 04, 2022
UK insurer, RSA Insurance Group (RSA), reported a profit of £107mn in its half year results, recovering from a comparable loss of £249mn reported in H1 2021. This bounce back consisted of £31mn in underwriting profit, compared to a £143mn loss rep...
Posted: Aug 04, 2022
Hannover Re, one of Europe’s largest reinsurers, has today announced net income of €649 million for the first half of 2022, while the firm’s property and casualty (P&C) reinsurance underwriting declined on the back of higher than e...
Posted: Aug 04, 2022