Reinsurance News
Brokerslink introduces dedicated Employee Benefits Practice
25th October 2023
Global broking firm Brokerslink announced the launch of a dedicated Employee Benefits (EB) Practice to address the fight for talent. Led by Gerard Baltazar, Brokerslink EB expert, the practice will aim to provide independent brokers around the world with access to leading expertise, assistance, and innovative solutions to help them strengthen ... 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
Chubb promotes McGregor to Head of Property in APAC & Japan
24th October 2023
Global property and casualty insurer Chubb has promoted Ben McGregor to Head of Property, Asia Pacific (APAC) and Japan for its general insurance business, effective 1 December 2023. McGregor will be based in Singapore and report directly to Paul McNamee, Regional President of APAC. He has a matrix reporting line to Aaron ... Read the full article
Arthur J. Gallagher & Co. to acquire Cadence Insurance
24th October 2023
Arthur J. Gallagher & Co. has made a significant move in the insurance industry by announcing its definitive agreement to acquire Baton Rouge, Louisiana-based Cadence Insurance, Inc., a wholly-owned subsidiary of Cadence Bank. The transaction, subject to regulatory approval, is anticipated to conclude during the fourth quarter of 2023, the company ... Read the full article
RLI reports 98.7% combined ratio as net earnings fall to $13.5m in Q3 2023
24th October 2023
Specialty insurer for property, casualty and surety markets, RLI Corp., has reported underwriting income for Q3 2023 of $4.2 million and a combined ratio of 98.7%, compared year over year to $8.8 million and a 97% combined ratio. The company’s Q3 2023 net earnings of $13.5 million, translated to $0.29 per ... Read the full article
DUAL Europe names Frank Huy as Managing Director of DUAL Deutschland
24th October 2023
DUAL Europe has announced the appointment of Frank Huy as the new Managing Director for DUAL Deutschland, effective April 2024. Huy will be reporting directly to Olaf Jonda, the CEO of DUAL Europe. Huy brings a wealth of experience from his tenure at German insurer Gothaer, where he held various positions since ... Read the full article
Deploying tools for climate risk management is where the industry faces a huge gap: RMS
24th October 2023
Reinsurance News recently spoke to Joss Matthewman, Senior Director, Product Management & Strategy, RMS, about what he believes the re/insurance industry needs to do to try and combat the effects of climate change. He highlighted how this topic is particularly important, because, as physical risks change as the climate changes, the ... Read the full article
KCC unveils RiskInsight Version 4.13 with innovative features
24th October 2023
Global catastrophe risk modeller, Karen Clark & Company (KCC), has announced the launch of RiskInsight Version 4.13, the latest update to the RiskInsight open loss modeling platform, that gives insurers and reinsurers the ability to track claims and losses in real-time from live hurricanes. This latest iteration introduces major improvements ... Read the full article
Brown & Brown revenues up 15.1% in Q3’23
24th October 2023
US broker firm Brown & Brown has reported revenues of $1,067.7 million for the third quarter of 2023, representing an increase of $140.1 million, or 15.1%, when compared with the same period last year. Notably, organic revenue increased 9.6% from last year, income before income taxes was $242.3 million, increasing 11.1% ... Read the full article
Kemper anticipates net loss of $150m in preliminary Q3 results
24th October 2023
In its preliminary results for Q3 of 2023, Kemper has announced an estimated net loss between $140 million and $150 million and an estimated adjusted consolidated net operating loss between $25 million and $35 million. According to the firm, net loss for Q3 includes an estimated $56 million after-tax non-cash charge ... Read the full article
The outlook is positive, but it’s not yet time to celebrate: Peak Re CEO Hahn
24th October 2023
Hong Kong domiciled reinsurer Peak Re recently reported an impressive set of half-year results, and while the outlook for the future is positive, Chief Executive Officer (CEO) Franz-Josef Hahn isn’t celebrating just yet. After efforts to rebalance its portfolio to capitalise on hard market opportunities, Peak Re announced record profits ... Read the full article
Rokstone appoints Mike Nukk as Head of Marine
24th October 2023
Rokstone, Aventum Group’s international (re)insurance MGA, has appointed Mike Nukk as Head of Marine. Nukk is an experienced Marine professional with a storied career that includes a two-decade tenure at Liberty, where he served as SVP Global Marine Practice Leader and Marine Chief Underwriting Officer. Based in the US, he also spent ... Read the full article
Marsh names new CEO, UK Risk Management and new CEO, UK FINPRO
24th October 2023
Insurance broker Marsh, and a business of Marsh McLennan, has announced the appointments of Beth Thurston as CEO of UK Risk Management, and Hema Mistry as CEO of the UK Financial and Professional (FINPRO) business. Thurston will report to Nick Harris, CEO of Retail, Marsh UK, and Mistry will report to ... Read the full article
MS Amlin names Jamie Cleary Head of Crisis Management
24th October 2023
Global re/insurers, MS Amlin, has announced the promotion of Jamie Cleary to Head of Crisis Management, alongside his existing responsibilities as Lead Underwriter for Credit and Political Risk. Effective immediately, Cleary will be based in London and will report to Neil Walker, Deputy Chief Underwriting Officer and Head of Speciality Insurance. He ... Read the full article
Howden expands presence in Luxembourg & Belgium with two acquisitions
24th October 2023
Global insurance group, Howden, has established a retail presence across Luxembourg through its acquisition of the portfolio of United Brokers S.A. (United), and has also strengthened its position in Belgium with the acquisition of WDR Insurance Group BV (WDR). Both of these acquisitions reflects the company's ongoing strategy to invest in ... Read the full article