Reinsurance News
Consilium secures coveted license from Cayman Islands Monetary Authority
27th July 2023
Consilium, a prominent international (re)insurance broker and a part of the esteemed $1.5 billion Aventum Group, has recently announced that it has been granted a coveted license by the Cayman Islands Monetary Authority (CIMA). This development marks another significant milestone in Consilium's expansion strategy, enabling the firm to focus on the ... Read the full article
Beazley reports strong growth in H1 2023 on the back of “excellent” property market conditions
27th July 2023
Specialist insurer Beazley has reported robust growth in the first half of 2023, reporting a 13% increase in gross premiums written (GPW) to $2.9 billion. Alongside strong GPW growth, Beazley has announced a significant rise in net premiums written (NPW) for the period of 28% to approximately $2.3 billion. Much of the ... Read the full article
Percayso Inform completes £2.7m fundraise led by industry veteran Neil Utley
27th July 2023
Percayso Inform, an insurance data intelligence provider, has announced a second major investment in its fast-growing business with a £2.7 million fundraise led by industry veteran Neil Utley, and its existing venture capital investor, Praetura Ventures. Since launching in the UK insurance market three years ago, an increasing ... Read the full article
Chubb and HealthAtom partner to expand dental protection in Latin America
27th July 2023
Global re/insurer Chubb and HealthAtom, a Chilean healthtech, have announced an alliance to offer comprehensive dental healthcare in Latin America. Through the alliance, individual clients and corporate groups will have access to completely digital, comprehensive and easy-to-contract dental protection products. Chubb has stated that this “innovative digital insurance is built to optimize ... Read the full article
Coinnect: Leading the charge in the revolutionary ‘Cyber Insurtech’ domain
27th July 2023
As the digital landscape continues to accelerate, cybersecurity threats continue to evolve and have raised the prominence of the cyber insurtech, reflecting an innovative intersection of cyber security technologies and cyber insurance solutions, according to Massimiliano Rijllo, CEO of Coinnect. Coinnect is a cyber insurtech firm which provides services and platforms ... Read the full article
Arch Capital reports strong growth in reinsurance in Q2 as underwriting profit swells
27th July 2023
Bermuda headquartered re/insurer Arch Capital Group Ltd. has reported strong growth in its reinsurance business in the second-quarter of 2023, as the segment's underwriting result improved by 75% to $245 million with a combined ratio of 81.9%. During the quarter, Arch Capital's reinsurance segment, Arch Re, witnessed gross premiums written (GPW) ... Read the full article
SCOR reports refined Q2 P&C combined ratio of 88.5%
27th July 2023
French reinsurer SCOR has reported an improved Q2 P&C combined ratio of 88.5%, down from 113.1% in the same quarter last year, while net income generated was up at €192 million. The net income figure implied an annualised ROE of 16.9% in Q2 2023, and contributed to a net income of ... Read the full article
SiriusPoint appoints Habib Kattan as Global Head of Ceded Reinsurance
27th July 2023
Bermuda-based global specialty insurer and reinsurer, SiriusPoint Ltd., has announced the appointment of Habib Kattan as Global Head of Ceded Reinsurance. Kattan will be based in London and his appointment is effective on August 1, 2023. Kattan will report to David Govrin, Group President and Chief Underwriting Officer (CUO). In this new ... Read the full article
Everest reports record quarterly reinsurance growth with GWP of $2.8bn
27th July 2023
Bermuda based insurer and reinsurer Everest Group has reported gross written premiums (GWP) growth of 26.9% to almost $2.8 billion in its reinsurance segment in Q2, which is a new quarterly premium record for the segment. Growth within the reinsurance segment was broad-based across geographies and business lines, driven by 34.7% ... Read the full article
Nsure.com secures strategic investment from Pelican Ventures
27th July 2023
Nsure.com, America's leading digital insurance agency, has secured a strategic investment from Pelican Ventures, a private investment firm known for supporting visionary entrepreneurs in the insurance industry, with the exact amount undisclosed. Founded in 2018, Nsure.com has rapidly emerged as a full-service digital agency, providing comprehensive personal lines coverage across all ... Read the full article
Captive premium growth continues to trend upwards: Marsh
27th July 2023
Through a combination of various measures, the use of captive insurers is rising across the board, as risk-funding vehicles that offer numerous advantages, interest in using captives is said to be higher than ever. Within the past several years, Marsh clients formed nearly 400 new captive entities. Globally. Marsh Captive Solutions ... Read the full article
Airlines face elevated war insurance premiums: Reuters
27th July 2023
Industry sources have told Reuters that they believe airlines could end up paying twice as much for the insurance they need to protect themselves against losses triggered by war as providers of coverage look to offset recent losses. The recent conflict between military factions in Sudan earlier this year led to ... Read the full article
Second-quarter SCS losses in the U.S. to approach $30bn: O’Donnell, RenRe CEO
26th July 2023
Kevin O’Donnell, the Chief Executive Officer (CEO) of Bermuda headquartered reinsurer RenaissanceRe, expects losses related to severe convective storms (SCS) in the U.S. during the second-quarter of 2023 to approach $30 billion. Speaking recently during the reinsurer's Q2 2023 earnings call, O'Donnell commented on the most active second-quarter of catastrophe ... Read the full article
China Re unveils plans for digital transformation
26th July 2023
China Reinsurance Group (China Re), the country's largest reinsurance firm, launched its digital transformation strategy in Beijing on Tuesday, making arrangements for the group's transition in the coming five years. The company put forward a "1234" working idea with one goal, two integrations, three logics, and four unifications, and clarified the ... Read the full article
Conduit Re’s strong pricing and terms drive promising growth opportunities in H1’23
26th July 2023
In the first half of 2023, Conduit Re's pricing levels and favourable terms and conditions improved significantly, driving increased interest from potential clients and presenting promising avenues for expansion. An essential factor contributing to Conduit Re's prosperity was the risk-adjusted rate change, net of claims inflation, for the six months ending ... Read the full article