Reinsurance News

Hudson Insurance appoints Cyber Practice Leader

Market-leading specialty insurer Hudson Insurance Group has appointed Emily Lowe as Senior Vice President and Cyber Practice Leader for HudsonPro. Within this newly created role, Lowe will be spearheading the development of an Excess Cyber facilit...

Posted: Aug 09, 2022

Covenant Underwriters utilises RMS analytics

The e-commerce insurance program administrator, Covenant Underwriters, is utilising Location Intelligence API from RMS to provide premium indications to its clients during the quotation process. RMS Location Intelligence API offers location-level...

Posted: Aug 09, 2022

Argo Group appoints J. Daniel Plants to Board of Directors

Argo Group Holdings has announced the appointment of J. Daniel Plants as an independent member of the company’s Board of Directors. Plants is a seasoned investor, financial executive, and senior advisor with three decades of experience helpi...

Posted: Aug 09, 2022

Axonic recruits Michael Gordon as Head of Insurance Solutions

Axonic Capital, New York-based structured credit, commercial real estate, and systematic fixed income specialist, has announced the addition of Michael Gordon to build out its Insurance Solutions business. Gordon will be responsible for leading Ax...

Posted: Aug 09, 2022

L&G sees improved operating profit in H1 2022

Life insurer Legal & General Group (L&G) has reported an operating profit of £1.16 billion for H1 2022, an 8% increase from £1.07 billion from the same period last year. L&G’s UK PRT business, delivered operating profit growth of 7% to...

Posted: Aug 09, 2022

Aon names James Platt Chief Digital Officer and Mindy Simon joins as COO

Insurance and reinsurance broker Aon has named James Platt as Chief Digital Officer, Mindy Simon is joining the company as Chief Operating Officer (COO), taking over from Platt. Based in London, Platt will be overseeing Digital Client Solutions an...

Posted: Aug 09, 2022

United sees GWPs slide in latest results

United Insurance Holdings has said that gross written premiums in H1 2022 were 15.5% lower than they were in the same quarter of the previous year. Meanwhile, the firm said in a statement that the first half of 2022 had seen gross written premiums...

Posted: Aug 09, 2022

Argo sees lower cat losses despite Q2 $18.9mn net loss

Argo Group has reported an improvement in its catastrophe losses, as the figure is significantly lower at $2.5 million in Q2 2022 compared to the $11.1 million reported in the same period last year. According to the group, this quarter’s cat-loss...

Posted: Aug 09, 2022

Crawford income shrinks as international segment turns Q2 loss

Crawford & Company, a provider of claims management solutions, has reported that its net income more than halved from $11.8 million in the second quarter of 2021 to $5.8 million for the same period this year. Income shrank in part due to a los...

Posted: Aug 09, 2022

HCI Group sees 30% increase in gross premiums earned, despite Q2 $8.5mn net loss

Florida-based insurtech HCI Group has reported a net loss of $8.5 million in the second quarter of 2022, compared to a net income of $3.8 million in the same period last year. Adjusted net loss was $5.4 million for the quarter, compared to an adju...

Posted: Aug 09, 2022

AM Best upgrades Singapore Re’s credit ratings

Rating agency AM Best has upgraded Singapore Re’s Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) from “a-” (Excellent), and gave them a stable outlook. According to the rati...

Posted: Aug 09, 2022

Lemonade reports boon results

A letter from Lemonade to its shareholders says that in-force premiums (IFP) with the firm have risen 54% year on year to reach $458m in Q2 2022. The insurer said that (IFP) stood at $297m in Q2 2021 and at $155m in Q2 2020. Gross earned premiums...

Posted: Aug 09, 2022

Enstar in US casualty LPT deal with Argo

Enstar Group has announced that it has entered into a major loss portfolio transfer (LPT) deal with specialty insurance underwriter Argo Group International Holdings. Under the terms of the LPT, Enstar will reinsure a number of Argo’s direct...

Posted: Aug 09, 2022

Aurora appoints Munich Re’s Havemann to new role

Digital platform Aurora has appointed Carla Havemann to be its new heard of partnerships and strategy. The company said in a statement that Havemann would help drive the design and development of the company’s partnership ecosystem ahead of the la...

Posted: Aug 09, 2022

AIG general insurance combined ratio falls below 90% for first time in 15 years

AIG is reporting that it general insurance combined ratio improved by 5.1 points in Q2 2022, compared to the same period in 2021. The firm said in a statement that this was its first sub-90% combined ratio in a decade-and-a-half. Meanwhile, its ge...

Posted: Aug 09, 2022

Obsidian appoints Scott Palladino as Chief Business Development Officer

Obsidian Insurance Group has appointed insurance industry veteran Scott Palladino as Chief Business Development Officer. Palladino joins Obsidian from Clear Blue where he served in a similar role, and was also one of the original members of the ma...

Posted: Aug 09, 2022

Gallagher acquires risk management consultancy, AnotherDay

Global insurance and reinsurance brokerage Gallagher has acquired specialist crisis and risk management consultancy, AnotherDay. Founded in 2016, AnotherDay is a UK-based risk management consultancy, helping organisations pre-empt and prepare for...

Posted: Aug 09, 2022

Munich Re posts robust Q2 with strong organic growth in P&C

Reinsurer Munich Re has announced a profit of €768 million and €1.4 billion for the second-quarter and first half of 2022, respectively, driven by a solid performance across the Group as it took advantage of growth opportunities at the mid-year re...

Posted: Aug 09, 2022

Truist Insurance Holdings to acquire BenefitMall

US based Truist Insurance Holdings, a Truist Financial Corporation subsidiary, has signed a definitive agreement to acquire BenefitMall, a general agency broker services, from funds managed by global investment firm Carlyle. According to the annou...

Posted: Aug 09, 2022

Carpe Data names William Magowan as Chief Revenue Officer

Carpe Data, an emerging and alternative data provider for the insurance industry has appointed William Magowan Chief Revenue Officer, assuming the role after Jim Andrews was appointed Carpe Data’s Chief Customer Officer. Magowan brings 20 ye...

Posted: Aug 09, 2022

NuVenture International launches third MGA

NuVenture International has announced the launch of its third managing general agent (MGA), Product Recall insurance specialist, BluNiche. BluNiche was founded by Product Recall insurance veteran, and former Senior Class Underwriter at Talbot Unde...

Posted: Aug 09, 2022

LiveEO secures €19m in further funding

LiveEO has secured €19m in funding, a sum that the firm says is one of the largest investments to date in Earth Observation in Europe. A statement from the firm said the round was led by MMC Ventures and includes €17M of venture capital, as well a...

Posted: Aug 09, 2022

US P/C rates up 5.9% in Q2: MarketScout

MarketScout data shows that US property and causality (P/C) insurance rates are stabilizing at a composite increase of 5.91% in Q2 of 2022, matching the rate increases of Q1. MarketScout found cyber rates continue to increase the most at 21.3% up...

Posted: Aug 08, 2022

Berkshire (BHSI) hires Jake Hesson to launch commercial hull line in Australasia

Berkshire Hathaway Specialty Insurance (BHSI) has announced that it has appointed Jake Hesson to the role of Underwriting Manager, Marine for Australasia. The appointment comes as the company has announced that it is expanding into the Commercial...

Posted: Aug 08, 2022

Coalition appoints first-ever CFO, names two more new hires

Cyber insurance and security provider, Coalition, has appointed Jim Young as its first Chief Financial Officer (CFO) after raising $250m in a Series F funding round. According to Coalition, as first-ever CFO, Young will play a critical role in sca...

Posted: Aug 08, 2022