Reinsurance News
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McGill and Partners appoints John Judice as President, US
12th January 2024
Specialty insurance broker McGill and Partners has appointed John Judice as the new President of its US business segment, where he will focus on driving business development activity across the firm's specialty platform. Judice has over two decades of experience in the insurance industry. He joined the broker in September 2021 ... Read the full article
Aspen Insurance files for US IPO to “increase financial flexibility”
21st December 2023
Specialty re/insurer Aspen Insurance Holdings Limited has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed underwritten initial public offering (IPO) of its ordinary shares. This news follows a report from early December in which Aspen confirmed it was mulling ... Read the full article
Athene raises $600 million to grow insurance business
8th December 2023
Financial services company Athene Holding Ltd. has confirmed plans to sell $600 million of 5.875% senior unsecured notes due 2034, the proceeds of which will be used to expand its insurance operation. The offering is expected to close on December 12th, 2023, subject to satisfaction of customary closing conditions. The company intends ... Read the full article
Allstate poised for strategic downsizing in Florida amidst regulatory changes: CEO Tom Wilson
7th December 2023
Allstate's CEO, Tom Wilson, unveiled key insights into the company's underwriting and growth strategy at the Goldman Sachs 2023 US Financial Services Conference, expressing confidence in the overall trajectory of the business while simultaneously acknowledging the likelihood of further reducing the company's footprint in Florida until sufficient returns become viable. While ... Read the full article
Lemonade names Schwartz and Dr. Haj-Yehia to its Board of Directors
22nd November 2023
Lemonade has named two new members to its Board of Directors, Deb Schwartz and Dr. Samer Haj-Yehia, effective immediately. The newly named Directors are set to succeed departing Directors Irina Novoselsky and Silvija Martincevic, who have undertaken CEO roles in other companies. Daniel Schreiber, Lemonade co-Founder and co-CEO, commented, "Deb and Samer ... Read the full article
Brookfield Reinsurance completes acquisition of Argo Group
16th November 2023
Brookfield Reinsurance, a financial services business operator providing capital-based solutions to the insurance industry, has completed the acquisition of Argo Group International Holdings, Ltd. in an all-cash transaction valued at approximately $1.1 billion. Under the terms of the transaction, Brookfield Reinsurance acquired all issued and outstanding common shares of the Bermuda-based ... Read the full article
Tiptree’s Fortegra files for IPO
14th November 2023
Fortegra, the specialty insurance subsidiary of holding company Tiptree, has publicly filed a Registration Statement on Form S-1with the Securities and Exchange Commission (SEC) for an initial public offering (IPO). Earlier this month, alongside the announcement of its third quarter results, Tiptree highlighted its plans to take Fortegra public. The size ... Read the full article
AIG announces launch of secondary offering of Corebridge stock
6th November 2023
American International Group (AIG) has announced the launch of a secondary offering of Corebridge Financial common stock at $20.50 per share. AIG is offering 50 million existing shares of common stock (out of approximately 631 million total shares of common stock outstanding) of Corebridge, corresponding to approximately $1 billion of proceeds. AIG ... Read the full article
PICC P&C posts 26.2% fall in net profit for 9M’23
30th October 2023
China’s PICC Property and Casualty Company (PICC P&C) reported a net profit of RMB19,386 million for the nine months ended September 30, representing a year-on-year decrease of 26.2%. The decline in net profit can be attributed to three main factors: the resurgence of auto transportation, the adverse effects of severe typhoons ... Read the full article
Imran Siddiqui becomes CEO of Talcott Financial Group
27th October 2023
International life insurance group, Talcott, has announced the appointment of Imran Siddiqui as the Chief Executive Officer of Talcott Financial Group, effective immediately. Siddiqui has extensive experience leading and growing life insurance and annuity companies, as well as other financial services businesses, and he has played a key role in strengthening ... Read the full article
Hamilton adds two industry veterans to its Board
24th October 2023
Bermuda-based Hamilton Insurance Group Ltd., has announced that both Dr. Henna A. Karna and John J. Gauthier have been appointed to the firm's Board of Directors, effective October 24, 2023. A highly experienced veteran, Karna boasts more than 25 years of experience in leading innovation across digital/data in high-tech, consumer packaged ... Read the full article
Generative AI revolutionises reinsurance, unleashing unprecedented opportunities: Inver Re
12th October 2023
Reinsurance broker Inver Re is making waves in 2023 with the integration of advanced generative AI, setting the stage for a revolutionary transformation in the field. The impact of this technology is poised to reshape the way unstructured data is processed and unlock a multitude of opportunities. While Artificial Intelligence (AI) has ... Read the full article
InsuranceDekho raises $60m in second funding round of the year
12th October 2023
India-based InsuranceDekho has raised $60 million Series B funding, a mix of equity and debt, as the startup looks to supercharge its growth. The round was led by Eurazeo, through its insurtech fund backed by the insurer BNP Paribas Cardif, Japan’s Mitsubishi UFJ Financial Group and Beams Fintech Fund. Its existing investors ... Read the full article
Mercer hires Olaolu Aganga as US Chief Investment Officer
7th September 2023
Mercer, a business of Marsh McLennan, has appointed Olaolu Aganga as Partner, US Chief Investment Officer (CIO), effective immediately In her new role, Aganga will report to Hooman Kaveh, Global CIO , and she will also join the leadership team for Mercer’s US Outsourced Chief Investment Officer (OCIO) practice. Based in New York, ... Read the full article
Simmons joins Hamilton Insurance’s Board of Directors
15th August 2023
Bermuda-based insurer and reinsurer, Hamilton Insurance Group, has appointed Everard Barclay Simmons to the Company's Board of Directors. Simmons is also Chair and Chief Executive Officer at advisory firm Rose Investment Limited, as well as Chair of the Bermuda Public Funds Investment Committee with responsibility for advising on the investment of ... Read the full article