Reinsurance News
Allstate pegs catastrophe losses for Q1 at $1.69bn
20th April 2023
U.S. primary insurer Allstate Corporation has estimated that catastrophe losses for the first quarter of 2023 totalled $1.69 billion, pre-tax. According to Allstate, catastrophe losses for March alone stood at $1.17 billion or $927 million, after tax. The insurer writes, "Catastrophe losses for March events were estimated at $1.26 billion, related to ... Read the full article
Verisk’s Actineo announces Verena Klumb as its new leader
20th April 2023
Verena Klumb has been announced as the new leader of Actineo, a Verisk business, as of April 01, 2023. Klumb is a banker and marketing and communications economist, who has been leading operations and administration as part of the executive management team since 2015. Actineo is ... Read the full article
Microinsurance crucial for at-risk families worldwide: MiN
20th April 2023
Microinsurance, which has the potential to be worth $61.8 billion, is a crucial lifeline for many at-risk families across the world, according to the Microinsurance Network (MiN). The 2022 study shows 253 insurance providers reporting on 935 products in 34 countries across Africa, Asia, Latin America, and the Caribbean. The findings of ... Read the full article
AXIS’ Nerina Wright joins Apollo as Head of Sustainability
20th April 2023
Independent specialist re/insurer Apollo has appointed AXIS Capital’s Nerina Wright as Head of Sustainability. In her most recent role at AXIS, Wright served as ESG London Market Lead. Overall, she brings over three decades of experience towards her new role. In a statement, Wright said: “Sustainability is systemic. It is a responsibility shared by ... Read the full article
After an impressive two decades, we’d like the growth to continue: Fortegra CEO, Kahlbaugh
20th April 2023
During his 20-year tenure with specialty insurer Fortegra, Chief Executive Officer (CEO) Rick Kahlbaugh’s leadership has seen the company expand into a multi-line carrier with annual premiums in the billions of dollars, supported by a willing and able team dedicated to generating profitable underwriting for shareholders. Kahlbaugh, who also serves as ... Read the full article
At-Bay appoints Ari Fischel as Chief Financial Officer
20th April 2023
Cyber insurance provider At-Bay has announced that it has appointed Ari Fischel as its Chief Financial Officer (CFO). An experienced industry veteran, Fischel brings more than 20 years of financial and operational expertise towards At-Bay's executive team. At-Bay also confirmed that Fischel will join the board of At-Bay’s Specialty Insurance Company, Read the full article
UPC Insurance unit reaches agreement with Florida Department of Financial Services
20th April 2023
United Insurance Holdings' (UPC Insurance) unit, American Coastal Insurance Company (ACIC), has entered into an agreement with the Florida Department of Financial Services' Division of Rehabilitation and Liquidation (DFS), regarding the Reinsurance Allocation with the company's former subsidiary, United Property & Casualty Insurance Company (UPC). The Allocation Agreement was put in ... Read the full article
Tata AIG hires new Chief Manager for Reinsurance
20th April 2023
Tata AIG General Insurance Company has announced the hire of Sanket Vadkhalkar as its new Chief Manager for Reinsurance. He will be based out of Mumbai in this role. Vadkhalkar’s area of expertise is in the Facultative Reinsurance sector. Previously he was the Assistant General Manager at J.B.Boda Mumbai and was responsible ... Read the full article
Guy Carpenter’s underlying revenue up 10% in Q1 as MMC gets off to a strong start
20th April 2023
Global re/insurance broker Marsh McLennan (MMC) has today reported consolidated revenue across its operations of $5.9 billion for the first quarter of 2023, a rise of 9% on an underlying basis, supported by growth at its reinsurance broking arm, Guy Carpenter. Group-wide, revenue increased from the $5.6 billion reported a year ... Read the full article
Swiss Re names CRO of Reinsurance Global Clients, Solutions & iptiq
20th April 2023
Global reinsurance giant Swiss Re has promoted Stefanie Stratos to Global Chief Risk Officer of Reinsurance Global Clients, Client Solutions and iptiQ - Swiss Re´s digital B2B2C insurer. Based in New York, Stratos is a renowned veteran within the industry, having worked at Swiss Re for over 26 years. She joined the ... Read the full article
Acrisure recruits Marsh executive David Bruce
20th April 2023
Financial technology and insurance company Acrisure has appointed David Bruce as Chief Executive Officer (CEO) Networks & Chief Operating Officer UK Retail. Bruce arrives from Marsh, where he has served as CEO for the broker’s commercial arm since 2021. He joined Marsh Commercial in 2018 as Chief Operating Officer and has held ... Read the full article
FairFax set to acquire additional 46% stake in Gulf Insurance Group
20th April 2023
Fairfax Financial Holdings Limited has announced that it has reached a deal to more than double its stake in Gulf Insurance Group (GIG) K.S.C.P. from buying an additional roughly 46% interest from Kuwait Projects Co.(Holding) K.S.C.P. for about $860 million. When the transaction closes, Fairfax's equity interest in GIG will increase ... Read the full article
QBE promotes Debbi Wood to Head of Reinsurance Claims
20th April 2023
QBE, an Australian-based insurer has promoted Debbi Wood to Head of Reinsurance Claims. An experienced veteran within the industry, Wood has worked at QBE for nearly two decades. She joined the firm in 2003 as a Senior Claims Adjuster, and would serve in that role for just over 19 years. In 2010, QBE ... Read the full article
The Hanover Insurance approximates $175m in cat losses for Q1
20th April 2023
The Hanover Insurance Group has announced its preliminary estimate for first-quarter 2023 catastrophe losses of approximately $175 million, before taxes or 12.7 points of net earned premium. Widespread wind and tornadic activity impacted nearly half of the U.S. in mid-to-late March. The first quarter catastrophe losses were caused by over 20 ... Read the full article
Intangic MGA appoints Debbie Durkan as Commercial Director
20th April 2023
Newly launched cyber underwriter Intangic MGA has named Debbie Durkan as Commercial Director to drive growth and distribution. Durkan holds more than two and half decades of industry experience, having most recently served at Marsh, where she was Chief Client Officer for the UK Commercial group. She has also operated as ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
