Reinsurance News
Send & Sollers Consulting announce underwriting partnership
24th March 2023
Send Technology Solutions (Send), a rapidly growing UK-based Insurtech software company, and Sollers Consulting have announced a new partnership to deliver Send’s underwriting platform to commercial and specialty insurers. Through this new partnership both companies are aiming to better support commercial and specialty insurers in their digital transformation. Currently they are ... Read the full article
Tech MGA elseco strengthens space team with new appointments
24th March 2023
Tech specialist MGA elseco has bolstered its leadership, risk analysis, and modelling capabilities within its space insurance team, naming Laurent Esquirol as Group Space Risks Technical Director and Ludovic Arnoux as Client Advocate and Launch System Technical Advisor. elseco notes that despite employing the largest space underwriting team in the market, it ... Read the full article
Global insurance spending likely to double in the next decade, says Lloyd’s Neal
23rd March 2023
Speaking to the Financial Times (FT), John Neal, Lloyd's CEO, suggested the increase in global insurance spending over the next decade is to be driven by a greater perception of risks such as bank failures and climate change. According to FT, Neal noted that financial risks like bank failures as well ... Read the full article
AM Best affirms credit ratings of Ping An P&C
23rd March 2023
Global rating agency AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to Ping An Property & Casualty Insurance Company of China, Ltd., (Ping An P&C). Best has confirmed that the outlook assigned to these ratings is stable. According to the ... Read the full article
Great American promotes Shepherd to Divisional President, Cyber Risk
23rd March 2023
Great American Insurance Group has promoted Elizabeth M. Shepherd to Divisional President, Cyber Risk. Shepherd joined Great American in 2018 as a Divisional Senior Vice President, where she played a key role in consolidating the company’s cyber risk products and programs. Within the role, she oversees the firm’s cyber initiatives and existing ... Read the full article
Munich Re and PSG announce new risk assessment solution
23rd March 2023
Munich Re Life US and insurtech Paperless Solutions Group (PSG) have announced a new combined risk assessment and e-application solution, that allows life insurance carriers to underwrite new policies faster and with greater accuracy. The solution combines the risk assessment and instant decisioning power of Munich Re’s alitheia with the seamless ... Read the full article
Marsh McLennan India appoints Kedia as new CEO
23rd March 2023
Marsh McLennan India, the regional operation of the global insurance and reinsurance broking powerhouse, has announced Sanjay Kedia as its new CEO. Kedia will be taking over in the new role starting April 2023 and this role comes in addition to his previous role as the President of Marsh India. Marsh India ... Read the full article
ILS at crossroads as capital supply to remain low: AM Best
23rd March 2023
Analysts at AM Best have warned that the insurance-linked securities (ILS) market finds itself “at a crossroads” following several years of heightened catastrophe losses, and with the supply of capital set to remain low while investors re-assess the class. The rating agency notes that losses stemming from Hurricane Ian, after years ... Read the full article
Howden Tiger names Ruff to lead Legacy team
23rd March 2023
Seth Ruff, Head of Structured Reinsurance at Howden Tiger, the reinsurance arm of international re/insurance broker Howden Broking Group, has assumed the additional role of Head of Legacy. Furthermore, the Legacy and Investment Banking divisions have come under common management, reporting to Jarad Madea, CEO, Howden Tiger Capital Markets & Advisory ... Read the full article
US P&C industry records $26.5bn underwriting loss for 2022: AM Best
23rd March 2023
The US property and casualty (P&C) industry recorded a net underwriting loss of $26.5 billion in 2022, according to data from AM Best, worsening by $21.5 billion from the previous year. The rating agency’s data was compiled from companies whose 2022 annual statutory statements were received as of March 9th, which ... Read the full article
Aon to boost emerging risk insights with Lifeguard collaboration
23rd March 2023
Re/insurance broker Aon, has announced a new collaboration with science crowdsourcing organisation Lifeguard to boost emerging risk insights in the property and casualty insurance sectors through engagement with the scientific community worldwide. According to the announcement, the Aon-Lifeguard collaboration will help to reduce traditional research and development time-cycles by utilising crowdsourcing ... Read the full article
Navitas to collaborate with Crum & Forster and Great American
23rd March 2023
Navitas Assurance Partners, a specialty managing general underwriter (MGU), has announced its collaboration with Crum & Forster’s Credit Division and Great American Insurance Company’s FCIA Trade Credit & Political Risk Division. According to the announcement, the aim of this relationship will be to provide highly rated trade credit insurance capacity to ... Read the full article
Reinsurers’ combined ratios remained strong in 2022 but investment losses went up: Gallagher Re
23rd March 2023
Global reinsurers' combined ratios deteriorated marginally to 95.7% for FY2022, despite this it remains strong while investment losses went up weighing on the average full-year ROE, which dropped to 10%, a Gallagher Re report revealed. According to the the Global Reinsurers’ Financial Results for FY2022 report, the reinsurers tracked by Gallagher ... Read the full article
CAPE Analytics partners with Google Cloud
23rd March 2023
CAPE Analytics, a leader in AI-powered geospatial property intelligence, has partnered with Google Cloud to develop predictive analytics that enhance risk management for insurance carriers and property valuation solutions for the real estate and mortgage industries. CAPE states that by leveraging Google Cloud’s secure cloud infrastructure and machine learning technology, it ... Read the full article
Shreyaa Vohra named Managing Director of Besso Re Middle East
23rd March 2023
Re/insurance broker Besso has announced the appointment of Shreyaa Vohra to the role of Managing Director of Besso Re Middle East. In her new role, based in Dubai, she will be responsible for developing the company’s facultative portfolio, predominantly across the GCC (Gulf Cooperation Council) region. Prior to joining Besso, Vohra spent ... 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.
