Reinsurance News

Canopius appoints Chris Getty as new cyber underwriter

Canopius Group, a global specialty and property and casualty (re)insurer, has announced the immediate appointment of Chris Getty as Cyber and Technology Underwriter. Getty will enhance Canopius’ cyber and technology capabilities and will report di...

Posted: Jun 18, 2024

UK life insurance market sees positive growth amid emerging risks: AM Best

Credit rating agency AM Best maintains a stable outlook for the UK life insurance segment, highlighting strong growth in pension risk transfers and the positive impact of higher interest rates on investment yields. Pension-related products continu...

Posted: Jun 18, 2024

Scott Sykes to lead Amphitrite’s newly launched cargo division

Amphitrite Underwriting London, a marine specialist managing general agent (MGA), has announced the appointment of Scott Sykes as Head of its newly formed Cargo Division, which has recently secured capacity from Lloyd’s. Sykes, who has over 35 yea...

Posted: Jun 18, 2024

Intensified regulatory scrutiny on EU life insurers potentially hitting profits: Moody’s

Moody’s, a credit rating agency, has released a report emphasising intensified regulatory scrutiny on European Union life insurers to ensure their products deliver “value for money,” potentially impacting profitability and operat...

Posted: Jun 17, 2024

WTW names Len Graziano Casualty Strategy & Execution Leader for CRB NA

Global advisory, broking, and solutions firm WTW has appointed Len Graziano as Casualty Strategy and Execution Leader within Corporate Risk and Broking, North America (CRB NA). Graziano joins WTW from Aon, where he led the Excess Casualty practice...

Posted: Jun 17, 2024

June US SCS flooding spurs anticipation of hundreds of millions in insured losses: Aon

Aon, a professional services firm providing risk, retirement, and health solutions, has released a weekly catastrophe report showing that since June 11, Southern Florida has faced substantial financial losses due to prolonged and excessive rainfal...

Posted: Jun 17, 2024

Allianz appoints Vanessa Maxwell as Global Head of Cyber & Financial Lines

Allianz Commercial has recently announced the appointment of industry veteran Vanessa Maxwell as Global Head of Cyber, alongside her current role as Global Head of Financial Lines. In this dual capacity, Maxwell will report directly to Shanil Will...

Posted: Jun 17, 2024

KMC & TSA enter into program administration agreement

Knight Management Company (KMC) has agreed to provide paper to write reclamation, commercial, and contract surety to Triangle Surety Agency (TSA) and provide access to KnightBrook Insurance Company (KBIC) paper. Triangle Surety will act as the pro...

Posted: Jun 17, 2024

Cécile Paillard named Generali Group Chief Transformation Officer

Italy-headquartered insurer Generali has announced the appointment of Cécile Paillard as Group Chief Transformation Officer, effective as of September 2, 2024. Also joining the Group Management Committee (GMC), Paillard will be directly reporting...

Posted: Jun 17, 2024

Proactive risk management key for 2024: Gallagher

(Re)insurance broking group Gallagher’s new report highlights the necessity for businesses and communities to adopt proactive risk management strategies, in light of global uncertainties in 2024. The year is marked by the potential for civil...

Posted: Jun 17, 2024

Rokstone hires Amato to launch Global Sports Personal Accident portfolio

Speciality re/insurance MGA Rokstone, which is part of the Aventum Group, has hired 35-year underwriting veteran Graham Amato to launch a new Global Sports Personal Accident portfolio. Launching with A-rated capacity, Rokstone is set to deliver ta...

Posted: Jun 17, 2024

CyberCube unveils new logo signifying established status & future aspirations

Cyber analytics firm CyberCube has unveiled a new logo, symbolising its evolution from a start-up in 2015 to an established market leader. Pascal Millaire, Chief Executive Officer at CyberCube, commented, “In 2015, we had lofty ambitions to become...

Posted: Jun 17, 2024

Howden names Paul Hipson as Head of London Broking

The insurance intermediary group Howden has announced the appointment of Paul Hipson to the newly created role of Head of London Broking for the Corporate & Commercial division within Howden UK & Ireland, effective June 2024. In his new po...

Posted: Jun 17, 2024

Arabian Gulf flooding to hit reinsurance programs as loss figures reach into billions: Gallagher Re

With torrential rains and deadly flooding impacting many Arabian Gulf countries between April 13-17, Gallagher Re estimates the market loss for United Arab Emirates (UAE) property to be in the range of $1.8 billion to $2.3 billion, while UAE Motor...

Posted: Jun 17, 2024

“Higher for longer” interest rate environment is boosting life insurance demand, Swiss Re Institute

Swiss Re Institute is forecasting a 40% rise in insurers’ investment income on average, for insurers in the largest eight life markets in the five years to 2027, driven primarily by higher bond yields. In a recent blog authored by James Finu...

Posted: Jun 17, 2024

SCOR promotes Benoît Liot to Head of Risk Partnerships

French reinsurer SCOR has announced the appointment of longstanding retrocession and third-party capital partnerships executive Benoît Liot as Head of Risk Partnerships. SCOR has highlighted the relevance of this appointment as “an important step...

Posted: Jun 17, 2024

Munich Re appoints Jack Faure as Head of Parametric NatCat Solutions

Global reinsurer Munich Re has recently appointed Jack Faure as the Head of Parametric NatCat Solutions. In this role, Faure will manage the company’s global transactional team. He will lead project teams to drive and support product development w...

Posted: Jun 17, 2024

Sampo makes €4.42bn offer for Topdanmark remaining shares

Finish insurer Sampo has revealed it intends to acquire all of the outstanding shares in P&C insurer Topdanmark not already owned for 33 billion Danish Krone (€4.42 billion). Sampo already owns around 48.5% of Topdanmark, with this new conside...

Posted: Jun 17, 2024

Gareth Davies to join Howden from Price Forbes Re as Head of Parametric Solutions

Experienced parametric risk transfer professional, Gareth Davies, is to join global insurance and reinsurance broker Howden as Head of Parametric Solutions, Reinsurance News has learned. Davies is joining Howden from Price Forbes Re, where he most...

Posted: Jun 17, 2024

DARAG and UnipolSai form service partnership

DARAG Group, a (re)insurance specialist in discontinued business and capital and operational relief, has entered into a service agreement with UnipolSai Assicurazioni S.p.A. (Unipol), an Italian insurer within the Unipol Group. Unipol is a major p...

Posted: Jun 17, 2024

AXIS reports climate change driving energy transition amid rising risks

AXIS Capital Holdings Limited, a specialty insurance company, has released a new report titled “Navigating Risk in the Energy Transition”, based on independent research which examines how various risks, including climate change, econom...

Posted: Jun 17, 2024

Asian Re names Satitchaichareon Chairperson

Bangkok-based Asian Reinsurance Corporation (Asian Re) has announced the appointment of a new Chairperson, Sumalee Satitchaichareon, Deputy Director-General, Fiscal Policy Office, the Ministry of Finance of Thailand. Asian Re is an intergovernment...

Posted: Jun 17, 2024

Insurance industry adapts to new challenges, experts reveal at S&P conference

At S&P Global Ratings’ 40th Annual North American Insurance Conference, industry experts discussed current trends and challenges, agreeing that while the insurance landscape has evolved over the past four decades, the industry has succes...

Posted: Jun 14, 2024

June Central Europe SCS & flooding drive hundreds of millions in insured losses: Aon

The recent severe convective storms and flooding that have affected multiple countries in Central Europe since June 6 are expected to result in economic and insured losses amounting to hundreds of millions of EUR, according to Aon’s weekly catastr...

Posted: Jun 14, 2024

DeSantis’ new $237mn budget to strengthen the Florida Office of Insurance Regulation

Florida’s governor Ron DeSantis’ 2024-2025 Focus on Florida’s Future budget invests millions in the Florida Office of Insurance Regulation’s (OIR) to bolster residential home mitigation programs in the state. The OIR has primary respon...

Posted: Jun 14, 2024