Reinsurance News
One80 Intermediaries acquires Enviant
14th September 2023
Specialty insurance broker One80 Intermediaries, headquartered in Boston, has acquired the assets of Enviant from Euclid Program Managers. Enviant is based in Houston, Texas, and focused exclusively on providing a comprehensive suite of environmental products and services to a range of commercial clients. Since 2016, Enviant has been part of the Euclid ... Read the full article
Arch launches proactive cyber insurance solution, Arch CyPro
13th September 2023
Arch Insurance has announced the launch of Arch CyPro, a "pioneering cyber insurance solution designed to proactively safeguard businesses in an environment of rapidly evolving cyber threats." According to the firm, Arch CyPro is powered by the Arch Cyber Risk Engineering Team (ACRE), a specialist cyber team integrated into every stage ... Read the full article
Orion180 launches homeowner insurance business in Alabama and Mississippi
13th September 2023
Launched in 2018, Orion180, a premier provider of insurance solutions began issuing homeowners insurance in noncoastal areas of Alabama and Mississippi this month. These insurance policies have been issued through its admitted insurer Orion180 Select Insurance Co. Orion180 Select offers homeowners coverage through nearly 2,000 independent agency distribution partners in Alabama and ... Read the full article
Impacts of climate change continuing to be felt around the world: PwC’s Jim Bichard
13th September 2023
With climate change topping the list once again for PwC's “Reinsurance Banana Skins" report, "it does not seem surprising" due to it being so dominant for all the major events that the industry has seen over the last 12 months, states Jim Bichard, Partner and Read the full article
US commercial insurance rates rise again in Q2: WTW
13th September 2023
Insurance broker WTW’s quarterly survey shows that U.S. commercial insurance prices have continued to increase in the second quarter of 2023. The company's Commercial Lines Insurance Pricing Survey (CLIPS) compares insurance prices on policies underwritten during Q2 2023 to the prior year Q2. It shows an overall year-on-year increase of 6.1%, slightly ... Read the full article
Aon appoints Jeff Plein COO of Asia-Pacific region
13th September 2023
Aon has announced the appointment of Jeff Plein as the Chief Operating Officer (COO) for the Asia-Pacific region. According to Aon, Plein will be based in Singapore, joining its Asia-Pacific Executive Committee and the Aon Business Services Global Leadership Team. He will jointly report to Mindy Simon, Global Chief Operating Officer, and ... Read the full article
NewRe has a strategy for P&C & profit over the next year: CEO Thomas Braune
13th September 2023
At the 2023 RVS Monte Carlo event Reinsurance News spoke with NewRe CEO Thomas Braune about what areas of growth he hopes to see within NewRe over the next year. “We have a strategy for property & casualty and profit, and our main focus is nat cat XL ... Read the full article
Non-marine retro market sees shift in focus towards pricing and coverage: Guy Carpenter
13th September 2023
Guy Carpenter, a global risk and reinsurance specialist, highlights the notable transformations and key trends in the non-marine retrocession market as 2024 approaches, shedding light on evolving strategies for buyers. One prominent trend identified in the non-marine retrocession market is the availability of excess capacity at the upper end of programs, ... Read the full article
FEMA commences 2024 NFIP reinsurance renewal process
13th September 2023
The Federal Emergency Management Agency (FEMA) has announced it will be procuring reinsurance for the National Flood Insurance Program (NFIP) to be effective on or about January 1, 2024. To participate in the reinsurance procurement, FEMA said that vendors must submit a request to participate by December 1, 2023 (the date ... Read the full article
Swiss Re Reinsurance Solutions: A partner for more efficiency and innovation
13th September 2023
As the global reinsurance industry meets in Monte Carlo for the 65th edition of the Rendez-Vous de Septembre (RVS), we spoke with the Chief Executive Officer (CEO) of Swiss Re Reinsurance Solutions, Russell Higginbotham, about the division's value proposition and critical differentiators in an evolving industry. Greater efficiency and innovation were ... Read the full article
Being ‘multidisciplinary’ is key for ICW Re: Mirek Wieczorek
13th September 2023
Mirek Wieczorek, Head of Reinsurance at ICW Group Insurance Companies, has emphasized the company's versatile capabilities, describing it as "multidisciplinary" and well-prepared to thrive not only in conventional traditional markets but also in the realm of less traditional, customized, bespoke programs. In an interview with Reinsurance News, Wieczorek highlighted ICW Re's ... Read the full article
MSI expands partnership with ZestyAI to all western wildfire states
13th September 2023
After successfully utilising ZestyAI's Z-FIRE model to evaluate property-level wildfire risk for homeowners' insurance underwriting and rating in California, Millennial Specialty Insurance (MSI) will now expand ZestyAI's climate risk models to all western wildfire states for enhanced data-driven wildfire risk analysis. Commenting on the expanded partnership, Naimish Patel, President, Homeowner’s Insurance ... Read the full article
Zurich and KPMG collaborate to offer comprehensive climate change advisory services
13th September 2023
Zurich Resilience Solutions, the commercial risk advisory and services unit of Zurich Insurance Group, has joined forces with KPMG Switzerland, a prominent professional services firm, to provide cutting-edge advisory services addressing the multifaceted challenges posed by climate change. Initially available in Switzerland, this strategic collaboration will soon extend its reach to ... Read the full article
Miller names Gérald Castanier to develop European leasing practice
13th September 2023
Miller, a leading specialist (re)insurance broker, has announced the appointment of Gérald Castanier to spearhead the establishment of a new European leasing practice. This strategic move aims to fortify Miller's presence in the insurance sector while providing essential protection to banks, corporates, and funds acting as lessors against rental non-payment. Gérald Castanier, ... Read the full article
Reinsurance industry navigates changing landscape of alternative capital and cat bonds: Goldman Sachs
13th September 2023
Goldman Sachs, a prominent player in the financial industry, has offered insights into the evolving landscape of reinsurance structures, which are seeing primary retentions shift higher, and the growing interest in alternative capital funding, signifying significant changes in the reinsurance market. One key trend identified by Goldman Sachs is the shift ... Read the full article