Reinsurance News
IDF aims to enhance infrastructure investment for climate resilience
10th April 2024
The Insurance Development Forum (IDF) has announced its intention to facilitate investments in robust infrastructure within the insurance sector to enhance the resilience of vulnerable communities in emerging economies against climate change and natural disasters. Michel Liès, chair of the IDF Steering Committee, explains, “The Insurance Development Forum is today issuing ... Read the full article
Newline Europe starts cyber business led by Johannes Beckers
10th April 2024
Newline Europe, a subsidiary of Newline Insurance Company Limited, has announced the appointment of Johannes Beckers as Head of Cyber for the Europe-wide expansion of its cyber insurance business. In his new role, based in Cologne, Beckers has been tasked to drive growth and the development of Newline Europe's cyber insurance ... Read the full article
Howden’s Sarah Hughes added to Board of London Market Group
10th April 2024
The London Market Group has announced that Sarah Hughes, CEO of Howden Specialty, has been added to its board as a representative of London & International Insurance Brokers Association (LIIBA). An experienced veteran across the sector, Hughes was appointed CEO of Howden Specialty in October, after joining as the firm's ... Read the full article
Aon partners with ReliaQuest on cyber risk management
10th April 2024
Aon, the global insurance and reinsurance brokerage, has partnered with ReliaQuest to help organizations rapidly mature their security programs globally. This collaboration "represents a unique approach to helping companies assess and mitigate cyber risk." With ReliaQuest’s expertise and technology in detection, investigation, and response, and Aon’s cyber resilience capabilities, the pair aims ... Read the full article
Australia’s weekend storm declared a ‘Significant Event’ by ICA
10th April 2024
The Insurance Council of Australia (ICA) has declared the severe storm that hit the country’s east coast at the beginning of April a ‘Significant Event’. According to ICA, insurers have received 11,527 claims to date from the storms that caused heavy rainfall, damaging winds and flash flooding, which greatly impacted the ... Read the full article
Arch Insurance International names Sebastian Terry Head of A&H
10th April 2024
Arch Insurance International has promoted Sebastian Terry to Head of Accident & Health (A&H) and Georgina Raeburn to Senior A&H Underwriter, both effective immediately. Terry holds around 20 years of A&H underwriting experience, having joined Arch in 2004. His appointment as Head of A&H follows the retirement of Dennis Matthews, who has ... Read the full article
Miller appoints Nick Rnjak to build global power offering
10th April 2024
Miller, the independent specialist insurance and reinsurance brokerage, has appointed Nick Rnjak as the Client Advocate for its Onshore energy team, based in London. Rnjak will report to Martin Henderson, Head of Energy & Construction. His remit will include being responsible for scoping and developing a dedicated global power offering. Additionally, he ... Read the full article
Qubit completes Pre-Series A fundraising to bolster growth and research
10th April 2024
Qubit Underwriting, a Managing General Agent (MGA) recently launched in Hong Kong specialising in digital asset insurance, has successfully completed its Pre-Series A fundraising. The raised funds will help to fuel Qubit’s expansion efforts to reach global markets and bolster research and development initiatives, particularly in harnessing artificial intelligence for underwriting. Having ... Read the full article
Reinsurance sector delivers robust total RoE in Q1’24: ACORD
10th April 2024
The reinsurance sector exhibited strong overall performance in Q1, achieving an impressive +42% total return on equity, as highlighted in ACORD's initial Global Insurance Stock Index Update for 2024. ACORD, the standards-setting body for the global insurance industry, attributes this impressive performance to a combination of factors: “top-line growth driven by ... Read the full article
Energy sector to benefit from Yard Insurance’s new reinsurance risk solutions
10th April 2024
South Africa-based Yard Insurance has launched its new reinsurance risk solutions for the energy sector. The company assists the energy sector to mitigate their unique risks against potential catastrophic losses like weather, rehabilitation and other complex issues. It does this by tailoring Alternative Risk Financing Models and creates insurance capacity via funded ... Read the full article
Lemonade launches Homeowners insurance in France
10th April 2024
Expanding on its existing partnership with BNP Paribas Cardif, digital insurance company Lemonade has launched Homeowners insurance in France. Lemonade noted that with its European business making significant strides in 2023, the launch of Homeowners insurance throughout France will support its global expansion plans. Daniel Schreiber, Lemonade CEO and co-founder, commented, “The ... Read the full article
Upfort names former At-Bay & Hiscox exec Brett Sadoff as Advisor
10th April 2024
Upfort, a cutting-edge cyber security and insurance platform, has expanded its leadership team with the appointment of cyber security and insurance expert Brett Sadoff to its advisory board. In this role, Sadoff is responsible for helping to steer the company’s strategic vision and advancing its mission to accelerate the world’s journey ... Read the full article
Boost Insurance partners with Amwins Program Underwriters on LPL programs
10th April 2024
Boost Insurance, the insurance infrastructure platform, has partnered with Amwins Program Underwriters, part of Amwins Underwriting Division, to launch an enhanced, technology-enabled version of Lawyers Professional Liability (LPL) programs along with the re-launch of its Attorneys’ Select program. The two long-standing LPL programs are LawGold and Firemark, with the business to ... Read the full article
Re/insurers key in helping accelerate deployment of climate tech: The Geneva Association
9th April 2024
Re/insurers are essential to rolling out the climate technology needed for industries to decarbonise, according to a recent report by The Geneva Association, the global association of insurance companies. In a race to meet global climate targets, industries around the world are under increasing pressure to adopt new technologies and processes ... Read the full article
Summit secures $3.5m investment to revolutionise commercial brokerage sector
9th April 2024
Summit has recently secured $3.5 million in seed funding, marking a significant step towards its long-term objective of building the commercial insurance brokerage of the future. This investment was led by IA Capital Group, with additional funding from Harvest Ventures. The infusion of $3.5 million represents a crucial milestone in Summit’s mission ... Read the full article