Reinsurance News
Everest reports Q1’24 combined ratio of 88.8% amid record underwriting income
30th April 2024
Bermuda-based insurer and reinsurer, Everest Group, Ltd., has reported a Q1 2024 combined ratio of 88.8%, as pre-tax underwriting income reached a record $409 million for the firm, up on the $273 million seen in the prior year period. The re/insurer's gross premiums written (GWP) for Q1 2024 was $4.4 billion, ... Read the full article
MS Amlin hires Catherine Healy as Head of Property & Crisis Management Claims
30th April 2024
Lloyd's global insurer and reinsurer MS Amlin has hired Catherine Healy from HDI Global Specialty as Head of Property & Crisis Management Claims. In her new role, Healy assumes responsibility for the management and oversight of claims for commercial property, property binders, transportation, and crisis management. She will be based in London ... Read the full article
Arch sees Q1 2024 net income hit $1.1bn, CoR improves to 78.8%
30th April 2024
Arch Capital Group has reported Q1 2024 net income available to its common shareholders of $1.1 billion, marking an increase of $395 million compared to the same quarter of 2023. After-tax operating income in Q1 2024 also improved, reaching $933 million, compared to $654 million in the same quarter of the ... Read the full article
Broker Newfront adds Katherine August-deWilde to its Board
30th April 2024
Tech-driven insurance brokerage Newfront has added Katherine August-deWild, who has been an investor and advisor to the company for the last six years, to its Board of Directors. August-deWild brings three decades of financial services industry experience to the Board. She co-led First Republic Bank through its formative and growth years between ... Read the full article
WTW makes senior appointment in FIPS division of CRB NA
30th April 2024
WTW, a global re/insurance broker, has appointed Alex deLaricheliere as the Strategy and Execution Leader and Banking Subvertical Leader within the Financial Institutions and Professional Services (FIPS) industry division of Corporate Risk and Broking, North America (CRB NA). In the new role, deLaricheliere will report to and closely work with Brad ... Read the full article
Coalition report highlights growing need for enhanced email security
30th April 2024
According to findings from Coalition, an active cyber insurance provider, more than half (56%) of all cyber insurance claims in 2023 stemmed from either funds transfer fraud (FTF) or business email compromise (BEC), underscoring the importance of email security as a key component of effective cyber risk management. These insights are ... Read the full article
Chedid Capital completes full acquisition of Groupe Ascoma
30th April 2024
Chedid Capital now holds 100% of Groupe Ascoma by acquiring the remaining 20% share from the Husson Family, reinforcing its position in Africa’s insurance brokerage market. This finalises a process that began in September 2020 when Chedid Capital announced its intention to acquire Ascoma, culminating in an 80% stake acquisition ... Read the full article
Loadsure enters European freight insurance markets
30th April 2024
Insurtech managing general agent (MGA), Loadsure, has officially entered the European market, which the firm hopes will build on its success in North America. The MGA will initially focus on the Benelux region, Germany, France, Denmark, Norway, Finland, and Sweden. Additionally, Ben Brough has joined the firm as Director of Europe, ... Read the full article
QBE appoints Nicola Schroder as Group Head of Sustainability
30th April 2024
Australian insurer QBE Insurance Group Limited has appointed Nicola Schroder as the new Group Head of Sustainability, effective immediately. In this role, Schroder's remit will include continuing to drive QBE’s Sustainability Strategy across its three key focus areas. Additionally, Schroder is responsible for sustainability governance, strategy implementation, human rights, and modern slavery ... Read the full article
SCOR names HDI’s Claire McDonald as CEO of Business Solutions unit
29th April 2024
French reinsurer SCOR has appointed Claire McDonald as Chief Executive Officer (CEO) of SCOR Business Solutions (SBS), the firm's large corporate risks insurance unit which was previously known as SCOR Specialty Insurance. Effective September 1st, 2024, McDonald joins from HDI Global SE, and takes over from Romain Launay, who is leaving ... Read the full article
W. R. Berkley CEO optimistic on re/insurance property amid price peaks
29th April 2024
During the Q1 2024 earnings call, W. Robert Berkley, Jr., President and CEO of W. R. Berkley Corporation, notes that despite property cat reaching peak prices, there remains profit potential, particularly in the reinsurance property sector. Berkley underscores, “just because pricing has peaked, that doesn't mean there's not still a good ... Read the full article
Q1’24 insured nat cat losses above average at $17bn at least: Aon
29th April 2024
Global losses from disaster events reached $45 billion in the first quarter of 2024, of which at least $17 billion was covered by insurance, with an estimated quarterly protection gap of 64%, according to insurance and reinsurance broker Aon. Insurance and reinsurance industry losses of at least $17 billion from disasters ... Read the full article
Golub Capital launches Insurance Solutions team, hires Potenta to lead
29th April 2024
Golub Capital has revealed the launch of its Insurance Solutions team, a newly formed group of dedicated insurance and asset management professionals led by Jennifer Potenta as Managing Director, Head of Insurance Solutions. According to Golub Capital, the launch of the Insurance Solutions team is another key milestone in the firm’s ... Read the full article
MOVEit & Change Healthcare attacks designated as cyber catastrophe loss events by PCS
29th April 2024
Verisk's Property Claim Services (PCS), a provider of industry loss estimates and loss data globally, has designated the MOVEit cyber attack and the Change Healthcare cyber attack as PCS Cyber Catastrophe Loss Events, as reported first by our sister publication, Artemis. For PCS to designate these cyber attacks as PCS Cyber ... Read the full article
Athena Tolosa named CFO of Hamilton Re
29th April 2024
Hamilton Insurance Group has appointed Athena Tolosa as Chief Financial Officer of Hamilton Re, its Bermuda-based insurance and reinsurance underwriting platform. Tolosa has over 18 years of experience in the (re)insurance industry, having most recently worked at RenaissanceRe, where she chiefly served as Senior Vice President, Head of Finance - Reinsurance. Before ... Read the full article