Reinsurance News
Risk Innovations, a national wholesaler that specializes in Workers’ Compensation, has been rebranded as Jencap Insurance Services Inc. (JCIS), a principal division of Jencap. The rebrand follows Risk Innovations’ acquisition by Jencap Group in 20...
Posted: Aug 03, 2022
Fitch Ratings has affirmed Morocco-based Société Centrale de Réassurance (SCR) National Insurance Financial Strength (IFS) Rating at ‘AAA(mar)’, the outlook is stable. SCR has gradually increased its international diversification, as reflected in...
Posted: Aug 03, 2022
National Western Life Insurance Company (NWLIC), part of National Western Life Group, Inc., has entered into a Funds Withheld Coinsurance Agreement with Bermuda domiciled reinsurer, Aspida Life Re Ltd. NWLIC agreed to cede, on a coinsurance with f...
Posted: Aug 03, 2022
Insurance software solutions provider Genasys has appointed Ian Pettifor as the company’s new Group Chief Financial Officer. According to Genasys, Pettifor appointment is the latest in a line of C-suite hires by the company as it targets internati...
Posted: Aug 02, 2022
Insurance broker and Howden company, Aston Lark Ireland, has acquired Sparrow Insurances Limited. Sparrow Insurances offers a full range of commercial and personal insurance products as well as life, pensions and investment products to its clients...
Posted: Aug 02, 2022
Insurers can play a key role in strengthening mental health resilience, according to a new report from analysts at Swiss Re Institute. A recent survey from Swiss Re highlighted that the COVID-19 pandemic has impacted mental health wellbeing in Eur...
Posted: Aug 02, 2022
Insurance claims in Louisiana from damage related to last year’s Hurricane Ida have exceeded $13 billion through June 30th, 2022, according to Insurance Commissioner Jim Donelon. Policyholders have filed 460,709 claims of all types from Hurr...
Posted: Aug 02, 2022
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has promoted Kerry Hall to the newly created role of Head of Property and Casualty Binders. Hall’s appointment is effective immediately. Within this new role, she will be res...
Posted: Aug 02, 2022
Rating agency AM Best has downgraded the Financial Strength Rating to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating to “bb” (Fair) from “bbb-” (Good) of Kingstone Insurance Company (KICO). Concurrently, AM Best has downgraded the...
Posted: Aug 02, 2022
Specialist re/insurance broker McGill and Partners has appointed Danielle Melone as partner in its Facultative Reinsurance team. In her new position, Melone will focus on North American Property and Builders Risk placements. Prior to joining McGil...
Posted: Aug 02, 2022
James River Group Holdings Ltd. has posted a net income of $5 million for the second quarter of 2022, down from $20.8 million from the same period last year. Adjusted net operating income for the quarter was $20 million, an increase from last year...
Posted: Aug 02, 2022
USAA has announced that Randy Termeer has been named President, Property and Casualty (P&C) Insurance. Termeer joined USAA in 2017 as Senior Vice President and General Manager of Auto Insurance. Most recently he led USAA’s acquisition of Noblr...
Posted: Aug 02, 2022
Sayata, a marketplace for insurance brokers and carriers, has announced the addition of CFC – a specialist insurance provider, to the Sayata platform. The addition of CFC to the platform will offer brokers full access to CFC’s award-winning cyber...
Posted: Aug 02, 2022
International re/insurance broker UIB has announced the appointments of Angel Martinez Roig and Deborah Martinez Ojeda to its expanding Property team with a particular focus on growth within the Latin American marketplace. Based in UIB’s London of...
Posted: Aug 02, 2022
Global commercial insurance prices increased 9% in the second quarter of 2022, down from an 11% increase in Q1, according to the latest Global Insurance Market Index by re/insurance broker Marsh. While this does represent the 19th consecutive quar...
Posted: Aug 02, 2022
European life insurance and reinsurance group Athora Holding, Ltd, has announced it has completed the acquisition of Italian life insurer, Amissima Vita. Athora agreed to acquire Amissima Vita back in September 2021 as part of its continuing growt...
Posted: Aug 02, 2022
Beat Capital Partners, a long duration investor specializing in the insurance industry, and Justin Crawford, former head of DUAL’s environmental business, have together announced the launch of Magnolia Grove Insurance Services. Magnolia Grove will...
Posted: Aug 02, 2022
Oliver Wyman, a global management consulting firm and business of Marsh McLennan has announced the opening of a new Actuarial office in Bermuda. The firm has also announced that Faisal Haddad has been appointed as Head of the Bermuda Actuarial tea...
Posted: Aug 02, 2022
White Mountains Insurance Group, Ltd. (White Mountains) has completed the sale of NSM Insurance Group to investment funds affiliated with global investment firm, Carlyle. The transaction, originally announced in May, values NSM at $1.775 billion....
Posted: Aug 02, 2022
Longroad Energy Holdings has announced a $500 million equity investment by Munich Re’s MEAG. Longroad Energy affirmed that the investment will support their strategic shift from a primarily “develop to sell” business model, to one that is oriented...
Posted: Aug 02, 2022
Kin Insurance has reported a gross written premium (GWP) of $70.8 million in the second quarter of 2022, a major increase from the $24.7 million the company reported in the prior-year period. This now brings the company’s GWP year-to-date total to...
Posted: Aug 02, 2022
Italy-headquartered insurer Generali has posted a net result of €1,402 million during the second quarter of 2022, down 9.0% from the same period last year due to its Russian investments. The company reported that impairments on Russian investments...
Posted: Aug 02, 2022
Clyde & Co’s second annual London Market Professional Indemnity Report, based on a survey of PI professionals across underwriting, broking and claims, has revealed a widespread optimism about market conditions for the coming months, tempered b...
Posted: Aug 02, 2022
Globally, insurance and reinsurance industry losses from natural catastrophes hit $35 billion in the first half of 2022, which is 22% higher than the average for the past decade, according to Swiss Re Institute. Floods and other secondary perils c...
Posted: Aug 02, 2022
Digital insurance risk transfer and investment platform, Vesttoo, has named Kunihiko Iinuma, formerly of UBS and Reinsurance Group of America (RGA), as the new General Manager of its Japan operation. Iinuma, a financial industry veteran, brings mo...
Posted: Aug 02, 2022