Reinsurance News
The Lloyd’s of London insurance and reinsurance market is gearing up to provide coverage for shipments of grain coming out of war-torn Ukraine, Chairman Bruce Carnegie-Brown has said. Carnegie-Brown told Reuters that preparations were underway amo...
Posted: Jul 27, 2022
Palomar has gone into a two-year arrangement with Omaha National. Under the partnership, Palomar Specialty Insurance Company (PSIC) will act as the insurer in California to help support Omaha National’s workers compensation product. Omaha National...
Posted: Jul 27, 2022
CFC, the specialist insurance provider, has expanded its cyber threat analysis capability into North America and Australia. The company’s cyber threat analysis focuses solely on identifying new cyber threats and working with cyber customers to pre...
Posted: Jul 27, 2022
Berneberg expects rate increases in 2H 2022 to persist in loss-affected lines and programmes where loss experience has been elevated in recent years – and forecasts these to be in the low double-digit region. Reinsurers have been able to obt...
Posted: Jul 27, 2022
Global insurer Chubb has reported net income of $1.22 billion for the second quarter of 2022, after falling from $2.27 billion in the previous year. According to the insurer the net income in the quarter was adversely impacted by realised losses o...
Posted: Jul 27, 2022
Lancashire Holdings, the Specialty insurance and reinsurance firm, has appointed John Gressier as a Non-Executive Director. Gressier has over thirty years’ experience in the insurance industry having worked since 1986 for BPC Underwriting Agencies...
Posted: Jul 27, 2022
Acrisure Re, the reinsurance division of Acrisure, has appointed Chuck Furlong as senior vice president and broker. Furlong will focus on expanding Acrisure Re’s reinsurance capabilities in property and casualty in North America. He most recently...
Posted: Jul 27, 2022
Property and casualty insurance holding company United Insurance Holdings Corp. (UPC Insurance) has estimated that it incurred catastrophe losses of $21 million during the second quarter of 2022. This figure is before income taxes and net of expec...
Posted: Jul 27, 2022
Inflation is “beginning to bite” in the UK motor insurance market causing adverse trends, particularly relating to claims inflation, analysts at J.P. Morgan have observed. A drop in claims inflation in the near term is hard to imagine, analysts hi...
Posted: Jul 27, 2022
Bermuda-based insurer and reinsurer, AXIS Capital Holdings Limited, has reported operating income of $149 million for the second-quarter of 2022, down from $171 million in the prior year quarter. Net income for the quarter was $27 million, down fr...
Posted: Jul 27, 2022
Adit Ventures has agreed to seed Aanika Re, a Bermuda-based insurance vehicle wholly owned by Aanika Biosciences. Aanika Biosciences is a Brooklyn based synthetic biology startup that uses microbes to improve food safety. The company was founded i...
Posted: Jul 27, 2022
Lancashire Holdings Limited has announced an almost 35% rise in gross premiums written (GPW) for the first half of 2022 to $938.1 million, as the company’s underwriting performance strengthened with a lower combined ratio of 78.2%. Alongside...
Posted: Jul 27, 2022
Trean Insurance Group and Beat Capital Partners Americas, a long duration investor specialising in the insurance industry, are partnering up in the surplus lines insurance market. According to a statement, Trean will will offer E&S products th...
Posted: Jul 27, 2022
Bermuda-based Conduit Re has reported a rise in underwriting profit to $6.2 million for the first half of 2022, although the carrier has fallen to a comprehensive loss for the period after the impact of losses related to the war in Ukraine and net...
Posted: Jul 27, 2022
Iran’s insurance regulator, Central Insurance of Iran (CII), plans to lower the country’s non-life and life cession rate to 9% and 17% respectively, valid until March 2023. The Iranian insurance regulator sets a legal or obligatory cession to moni...
Posted: Jul 27, 2022
Multinational specialty insurance group, Tokio Marine HCC (TMHCC) has appointed Renaud de Pressigny as a Non-Executive Director to the board of its European company, Tokio Marine Europe (TME). With 40 years of experience in the insurance industry,...
Posted: Jul 27, 2022
The Florida homeowners insurance markets remain in ‘a sort of free fall’, says a new note from ALIRT Insurance Research. The note, an update on the domestic insurer market in the US state, says that a number of factors are buttressing the ongoing...
Posted: Jul 26, 2022
Riverstone International has appointed a new group head of legal and company secretary in Mike Cain. Cain is moving over from Aspen where he was general counsel and company secretary, alongside various other leadership roles including CEO of their...
Posted: Jul 26, 2022
Hymans Robertson has promoted Michael Abramson and Emma McWilliam to equity member roles. The firm said that Abramson provides advice within the area of risk transfer, focussing on de-risking strategies for DB pension schemes and on the transfer o...
Posted: Jul 26, 2022
AM Best has revised its market segment outlook on Chile’s insurance industry to stable from negative, owing to market dynamics, effective regulatory measures and economic recovery. In its Best Market Segment Report, – “Market Segment Outlook...
Posted: Jul 26, 2022
Florida-based primary insurer FedNat Holding Company has revealed that its Chief Executive Officer (CEO), Michael Braun, has resigned from his position, effective July 24th. Board member David Patterson has been named as interim CEO while the comp...
Posted: Jul 26, 2022
Assistant Director Christine Brown has been promoted to Director of Captive Insurance at Vermont’s Department of Financial Regulation (DFR). She will be succeeding Sandy Bigglestone, who will be appointed Deputy Commissioner of the Division when D...
Posted: Jul 26, 2022
Changing re/insurers underwriting practices is key for businesses’ net zero transition, according to a recent report by global law firm Kennedys. The report, titled ‘Rewriting the risk: Addressing the challenges of climate change’...
Posted: Jul 26, 2022
Howden RE has announced the appointment of Carsten Thienel as Head of Treaty Reinsurance, Germany. Thienel will establish Howden RE’s operations in the country, via a new office in Hamburg, enabling it to better service German and international re...
Posted: Jul 26, 2022
Rating agency Demotech has elected to extend its rating revision of property insurers in the State of Florida, and has responded to what it calls “factually inaccurate” comments made by the state’s officials. Last week, it was re...
Posted: Jul 26, 2022