Reinsurance News
RSA bolsters Global Network team with two appointments
15th November 2023
RSA Insurance has made two appointments in its Global Network team, naming Melissa Rayner and Christian Garcia as Global Network Relationship Managers. RSA explained that Rayner will manage the company's relationships with Global Network Partners in Africa and Middle East, while Garcia will manage relationships with its Global Network Partners in ... Read the full article
Fidelity National Financial to invest $250m in F&G
15th November 2023
Fidelity National Financial, Inc. (FNF) has announced its intent to invest approximately $250 million in F&G Annuities & Life, Inc. (F&G). FNF held approximately 85% ownership in F&G as of September 30, 2023. According to the announcement, F&G will use net proceeds from the investment to support the growth of assets under ... Read the full article
Mosaic marks two years of its global tax liability business
15th November 2023
Mosaic Insurance, a specialty insurance firm has signified the two-year anniversary of its global transactional tax liability team with the hire of another tax-risk specialist. During the quarter, the company welcomed Greg Branagan, who joined the company’s London office as Tax Underwriter, Transactional Liability. In the role, he provides support to the ... Read the full article
Oxbridge Re posts higher Q3’23 net loss
15th November 2023
Oxbridge Re Holdings, a provider of reinsurance solutions primarily to property & casualty insurers, has reported a net loss of $7.3 million in the third-quarter of 2023, compared to net loss of $2.2 million in the third quarter of 2022. The company stated that the loss in the quarter is due ... Read the full article
QBE North America names John Livatino as SVP and Head of Healthcare Liability
15th November 2023
QBE North America has announced the appointment of John Livatino as Senior Vice President and Head of Healthcare Liability. Livatino brings 25 years of underwriting experience in specialty insurance to his new role. Before joining QBE, Livatino held several leadership roles at Beazley and Markel Corporation, the company noted. Reporting directly to Dan ... Read the full article
Verisk SBS welcomes two new hires as it strengthens its Solutions-based approach
15th November 2023
Verisk SBS, a re/insurance software specialist operating in the London and US markets, has announced appointments of Gordon Bathurst as Director of Solutions, Broking, and Chris Spencer as Director of Solutions, Underwriting, effective immediately. Both will be based in London and report to Chief Product Officer Rich Smith. They join Nick ... Read the full article
UK and Florida sign MOU to expand business cooperation
15th November 2023
Florida Governor Ron DeSantis and UK Secretary of State for Business and Trade Kemi Badenoch have signed a Memorandum of Understanding (MOU) to "increase trade and bilateral investment, strengthen business ties (including reinsurance) and grow academic partnerships between Florida and the UK." According to the news release issued by the Governor's ... Read the full article
Coface posts 9M net income of €189.7m as turnover climbs 7.1%
15th November 2023
In its 9M results, Coface recorded net income of €189.7m, which includes €60.9m for Q3 alone. Coface recorded a consolidated turnover of €1,417.8m for the first 9M, up +7.1% at constant FX and perimeter compared to the first 9M of 2022. According to the firm, revenues from insurance activities (including surety bonds ... Read the full article
Amwins completes $1bn recapitalization transaction
15th November 2023
Amwins, an independent wholesale distributor of specialty insurance products, has completed a significant $1 billion recapitalization transaction with its existing shareholder group. According to the firm, Dragoneer Investment Group, Genstar Capital, SkyKnight Capital, L.P., and employee shareholders (together, the investors), purchased $1 billion in equity from more than 375 Amwins employee ... Read the full article
Rokstone launches new sports indemnity facility backed by Allianz Commercial
15th November 2023
Rokstone, an international specialty re/insurance MGA and part of the Aventum Group, has launched a new Sports & Prize Indemnity Division with an exclusive facility from Allianz Commercial. “Combining insurance expertise with pricing expertise from the sports analytics industry, Rokstone is creating a fully regulated insurance vehicle with the most accurate ... Read the full article
Marsh McLennan collaborates with Ukraine to provide insurance for Black Sea grain shipments
15th November 2023
Marsh McLennan, in collaboration with the Ukrainian government, the Export Credit Agency of Ukraine, Ukreximbank, Ukrgasbank and DZ Bank, has launched a new facility named 'Unity' to provide "affordable insurance supporting the export of grain and other critical food supplies globally from Ukraine’s Black Sea ports." Underwritten by insurers based at ... Read the full article
Hamilton successfully completes IPO, raises $80.6m
15th November 2023
Hamilton Insurance Group, Ltd. successfully concluded its initial public offering (IPO) by closing the sale of 15,000,000 Class B common shares. This total includes 6,250,000 shares sold by the company itself and 8,750,000 shares sold by existing shareholders. The shares were priced at $15.00 each, and trading commenced on the New ... Read the full article
Fitch affirms SCOR’s ratings citing greatly improved earnings
15th November 2023
Fitch Ratings has affirmed SCOR's and its core operating subsidiaries' Insurer Financial Strength (IFS) Ratings at 'A+' and Long-Term Issuer Default Rating (IDR) at 'A', with Stable Outlooks. Fitch noted that the affirmation reflects SCOR's improving earnings, well-designed strategic plan, and 'Favourable' business profile compared with that of all other reinsurance ... Read the full article
Lockton appoints Øyvind Larsen to lead its People Solutions business in Norway
15th November 2023
Independent insurance broker Lockton has announced the arrival of Øyvind Larsen to lead its People Solutions business in Norway. Based in Oslo, Larsen will also be joined by further senior hires, initiating a competitive new proposition for existing and prospective clients in the region. Overall, Larsen brings more than 25 years of ... Read the full article
WTW launches D&O insurance solution called A-Star
15th November 2023
Global insurance broker WTW has unveiled its latest innovation in the insurance sector with the launch of A-Star. This cutting-edge excess layer Directors' & Officers' (D&O) insurance solution is designed to provide exclusive benefits and comprehensive protection for directors and officers, addressing the evolving needs of clients in a dynamic business ... Read the full article