Reinsurance News
Professional indemnity (PI) insurance rates are falling at an unprecedented pace, with 56% of market participants predicting no rate increases in 2024, according to a new report from law firm Clyde & Co. The findings highlight the growing impa...
Posted: Dec 10, 2024
The global reinsurance industry is in a strong position and has ample buffers to absorb potential headwinds in the second half of 2024, according to the Artex Risk Solutions’ report, The Alternative View. The market has reported strong results for...
Posted: Dec 10, 2024
Specialist Risk Group, an insurance intermediary backed by Warburg Pincus and Temasek, has announced the acquisition of specialist insurance broker, R3. This marks SRG’s eleventh acquisition in 2024, following previous acquisitions which include S...
Posted: Dec 10, 2024
Specialist data analytics solutions provider Optalitix has formed a strategic partnership with PwC to enhance implementation services and support for users of Optalitix Quote, the company’s underwriting and pricing platform for insurers. This coll...
Posted: Dec 10, 2024
Global insurer American International Group, Inc. (AIG) has closed its previously announced sale of approximately 120 million shares of its Corebridge common stock to Nippon Life Insurance Company. The selling price of the stock, as previously rep...
Posted: Dec 10, 2024
Global specialty insurance provider Amwins Group, has announced the appointment of Ben Sloop as President, effective January 1, 2025. He will be taking over the role from James Drinkwater who will transition into the role of Vice Chair of Amwins w...
Posted: Dec 10, 2024
Global insurer Allianz has established a new independent strategic reinsurance platform called Sconset Re Ltd., which will be capitalized through equity investments from high-quality institutional partners. Located in Bermuda, Sconset Re will spec...
Posted: Dec 10, 2024
New European captive domiciles are seeing growth in company formations, including redomicilations from other jurisdictions, according to AM Best. In a new report, the agency reveals that France is leading the way in terms of new captive formations...
Posted: Dec 10, 2024
The CCRIF issued a total of US$85 million in record time to governments and non-sovereign policyholders in the Caribbean impacted by Hurricane Beryl, marking the largest payout in the organisation’s history, and underscoring its growing role...
Posted: Dec 10, 2024
Data-driven cyber reinsurance and analytics specialist Envelop Risk has completed a capacity agreement with MS Reinsurance for a further three years, in addition to reaching the milestone of $1 billion gross written premium since its launch in 201...
Posted: Dec 10, 2024
Arch Insurance, a division of Bermuda-based re/insurer Arch Capital Group, has announced the appointment of Rachida Laazaouzi as Senior Casualty Underwriter for the French market. Based in Paris, Laazaouzi will focus on growing Arch’s casualty por...
Posted: Dec 10, 2024
Pension Insurance Corporation plc (PIC) has completed a £370 million buy-in for the Hays Pension Scheme, securing coverage for over 4,200 members and transferring all associated financial and demographic risks. Hays Group contributed approximately...
Posted: Dec 10, 2024
Liberty Mutual Insurance has appointed Nicole Arangio as its new Executive Vice President (EVP) and Chief Compliance Officer, effective April 1st, 2025, with a transition over the next few months. Currently, Arangio serves as Chief Compliance Offi...
Posted: Dec 10, 2024
Liberty Mutual Insurance has appointed Nicole Arangio as its new Executive Vice President (EVP) and Chief Compliance Officer, effective April 1st, 2025, with a transition over the next few months. Currently, Arangio serves as Chief Compliance Offi...
Posted: Dec 10, 2024
After exceeding its 2024 economic goals, Allianz has raised its financial targets for the 2024-2027 cycle, aiming for a property and casualty operating profit of approximately €9.5 billion by 2027, with a combined ratio of 92-93%. In its other seg...
Posted: Dec 10, 2024
Global insurance and reinsurance broker Aon has promoted Ciaran Healy to Global Captive Leader for Commercial Risk Solutions, effective January 1st, 2025, based in Dublin. The promotion of Healy sees John English take on the role of Chairman of Ao...
Posted: Dec 10, 2024
AXA Hong Kong and Macau (AXA) and HK Express, supported by AXA Partners, have launched new flight delay parametric protection for HK Express customers who purchase U-First. This makes HK Express the first airline in Asia to offer parametric delay...
Posted: Dec 10, 2024
AM Best has affirmed Singapore Reinsurance Corporation Limited’s (Singapore Re) Financial Strength Rating of A and Long-Term Issuer Credit Rating of “a”, with a stable outlook for these ratings. The ratings reflect Singapore Re’s balance sheet str...
Posted: Dec 10, 2024
Legal and General Plc (L&G) has revealed that its shares have climbed higher after the organisation posted an update on its Institutional Retirement division, which specialises in bulk annuities. The company has reaffirmed its solid outlook fo...
Posted: Dec 10, 2024
DUAL North America has announced two new underwriting leadership appointments in its casualty divisions, Andreas Graham as Executive Vice President of the EIURS team, a division of DUAL, and Ed Frey as Senior Vice President of Professional Liabili...
Posted: Dec 09, 2024
Davies, a professional services and technology specialist, has announced its acquisition of Premier Claims Management, LLC (PCM), a claims service provider specialising in professional and general liability claims. Based in Santa Ana, California,...
Posted: Dec 09, 2024
Despite the excitement surrounding artificial intelligence’s (AI) potential, businesses should take stock and ensure that they are taking a considered approach as they implement the technology into their systems, says Adrian Cox, Chief Execu...
Posted: Dec 09, 2024
AM Best has affirmed the credit ratings for Bermuda-based Lancashire Holdings Limited and its subsidiaries, assigning a stable outlook. The agency affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating...
Posted: Dec 09, 2024
The use of warranty and indemnity (W&I) insurance reached record levels in the first half of 2024, with 1,540 policies placed and an increase in claims and payouts, according to a market study by HWF Partners. W&I insurance protects partie...
Posted: Dec 09, 2024
WNS, a digital-led business transformation and services partner, has extended its transformation-led strategic engagement with specialty and P&C lines re/insurer, Canopius Group. Through this collaboration, WNS aims to strengthen Canopius̵...
Posted: Dec 09, 2024