Menu

Reinsurance News

Consumers urged to review new wildfire insurance protections

29th July 2021

As the Californian wildfire season starts, Insurance Commissioner Ricardo Lara is alerting consumers to review the new insurance protections which have come into effect for the summer wildfire season. Last year, Commissioner Lara sponsored Senate Bill 872, which was to create a series of new protections for wildfire survivors despite opposition ... Read the full article

Howden expands into Italy, launches start-up platform

29th July 2021

International insurance broker Howden has launched a new business in Italy following the acquisition of broker Andrea Scagliarini SpA (Scagliarini). Establishing operations in Italy is seen as vital to enabling the firm to expand in Europe, enabling them to deliver service to both local and multinational clients. The launch of Howden Italy ... Read the full article

GRS expands CCS unit with four hires

29th July 2021

International loss adjuster Global Risk Solutions (GRS) has expanded its Complex Claims Solutions (CCS) business unit with the addition of four appointments. Michael Morgan has been appointed as Head of Energy within Europe, Middle East and Africa (EMEA). He will focus on the specialised loss adjusting needs of GRS clients with major, ... Read the full article

Coface reports net income of €123.2mn for H1

29th July 2021

Credit insurer Coface has reported a net income of €123.2 million for H1 2021, improving from €24 million for the same prior year period. The insurers' combined ratio stood at 51.9% for H1, an improvement compared to last year’s 88.6%. This comprised of a loss ratio, net of reinsurance, of 21.4% and ... Read the full article

More lines hitting rate adequacy but discipline remains paramount: Lancashire execs

29th July 2021

After several years of rate increases, underwriting conditions remain favourable with more lines of business achieving rate adequacy, but this shouldn’t be viewed as an invitation to relax underwriting discipline, according to executives at specialty insurance and reinsurance group, Lancashire Holdings. Announcing its first half 2021 financials yesterday, Lancashire reported ... Read the full article

McGill and Partners adds David Cousar to Fac Reinsurance team

29th July 2021

Specialist re/insurance broker McGill and Partners has lined up David Cousar to join its Facultative Reinsurance team in 2022. Cousar brings over 26 years’ experience to the role, starting off as a Property Underwriter at Legal & General before moving to direct writing reinsurers National Re and General Re. He has spent ... Read the full article

The Hartford reports $900mn Q2 net income

29th July 2021

US property and casualty insurer The Hartford has reported a Q2 2021 net income of $900 million, an increase of 94% from $463 million in Q2 2020. Its combined ratio in the second quarter came in at 88.9%, with an underlying combined ratio of 89.4%, a 13.5 point improvement from 102.9%. The ... Read the full article

Allianz upgrades functions on Claims Hub

29th July 2021

Global insurer Allianz has added present position trackers to its Claims Hub, allowing brokers to get live status updates on five key aspects of motor claims. The digital platform pulls information from the system so that brokers can have the latest on policy cover, liability, vehicle, third party and recovery. This new ... Read the full article

CFC appoints Graeme Newman as CEO

29th July 2021

Specialist insurer CFC has appointed current Chief Innovation Office Graeme Newman as its new Chief Executive Officer (CEO). As CEO, Newman will lead all aspects of CFC’s underwriting business based in London, including the company’s growing data, technology and operations functions. He succeeds founder Dave Walsh, who will assume the role of ... Read the full article

Arch’s underwriting performance improves across its operations in Q2

29th July 2021

Bermuda domiciled insurer and reinsurer, Arch Capital Group Ltd., has reported a return to underwriting profit for the second-quarter of 2021, driven by improved performances in its insurance, reinsurance, and mortgage segments. Across its operations, underwriting income reached $386.5 million for the second quarter of 2021, compared with a loss of ... Read the full article

Swiss Re names Nagarajan Head of Client Markets P&C

29th July 2021

Reinsurer Swiss Re has appointed Balasubramanian Nagarajan as Head of Client Markets Property & Casualty. Nagaraja will also assume the position of Head of Swiss Re Asia’s Malaysia Branch, succeeding Marcel Omar Papp, who has been in the role for the last three years. In his new role, Nagaraja will aim to ... Read the full article

R&Q program management hits $445mn GWP in H1

29th July 2021

Non-life global specialty insurer Randall & Quilter achieved $445 million in Gross Written Premium during the first half of 2021, an 80% increase from the $247 million seen in the prior year period. Fee Income, which represents program fee revenue and the firm’s share of earnings from minority stakes in MGA’s, ... Read the full article

Lloyd’s takes steps to accelerate transition to net zero carbon

29th July 2021

The specialist Lloyd's insurance and reinsurance marketplace has unveiled a new climate action roadmap as the entity looks to work with critical industries to help accelerate the pace of change as the need for net zero carbon intensifies. Today, Lloyd's has released a new report, Insuring a sustainable, greener future, as ... Read the full article

Everest Re posts solid premium growth as net income rises in 2021

29th July 2021

Bermuda-based reinsurer, Everest Re Group, Ltd. has announced a significantly improved net income for both the second-quarter of 2021 and the first half the year, of $680 million and $1 billion, respectively. Everest Re's Q2 net income increased by a massive 256% when compared with the prior year period, while net ... Read the full article

InsurTech investment reached record high in H1 2021: WTW

29th July 2021

Global investment in the InsurTech sector reached a record during H1 2021, as half-year funding of $7.4 billion exceeded full-year investment in 2020, and in every other year, according to a new report by insurance and reinsurance broker, Willis Towers Watson (WTW). In Q2 2021, 162 deals yielded more than $4.8 ... 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.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.