Reinsurance News
Cowbell launches new unit to support US businesses against AI-driven threats
5th February 2025
Cowbell, a cyber insurance provider for small and medium-sized enterprises (SMEs), has launched the Cowbell Resiliency Services (CRS) unit to complement its existing risk management program. The unit was created in response to a rise in the frequency, severity, and diversity of cyber threats. Simultaneously, the unit also aims to tackle sophisticated ... Read the full article
Aon, Swiss Re, and Floodbase reveal parametric insurance solution to mitigate hurricane storm surge losses
5th February 2025
Aon plc, a professional services firm specialising in risk management, insurance, and reinsurance brokerage, has introduced a new parametric insurance solution aimed at reducing financial losses caused by hurricane-related storm surges along the US coastline. This initiative, developed in partnership with Floodbase, a specialist in parametric flood risk, and Swiss Re ... Read the full article
AEGIS launches $100m political violence consortium
5th February 2025
AEGIS London has unveiled a new Political Violence Consortium, providing businesses with up to $100 million in coverage for a wide range of political violence and terrorism risks. The consortium offers a comprehensive solution, encompassing perils such as sabotage, strikes, riots and civil commotion (SRCC), insurrection, revolution, war, and civil war. The ... Read the full article
American Financial reports strong Q4’24 earnings
5th February 2025
American Financial Group, Inc. (AFG) has announced its fourth-quarter 2024 financial results, reporting net earnings of $255 million, slightly down from $263 million in the same period in the prior year. Despite the slight decrease in net earnings, the company saw significant growth in core net operating earnings for Q4 2024, ... Read the full article
CatX launches AI-powered parametric platform
5th February 2025
CatX, the digital marketplace connecting re/insurers and brokers with alternative capital, has launched Catamaran Parametric, a new AI-powered platform designed to simplify parametric protection. The platform leverages artificial intelligence (AI) to guide users through a comprehensive risk management process, transforming a traditionally manual, time-consuming task into an intuitive, data-driven experience. Catamaran Parametric ... Read the full article
GIC Re’s underwriting loss narrows in 9M’24 as premiums rise
5th February 2025
GIC Re, the Indian public sector reinsurer, reported an underwriting loss of ₹2,959.34 crore for the nine months ended December 31, 2024, compared to a loss of ₹4,576.63 crore for the same period in 2023, although gross premiums increased from ₹28,458.11 crore to ₹30,786.87 crore year-over-year. The reinsurer’s net premiums rose ... Read the full article
Insurwave appoints Premal Gohil as Chief Financial Officer
5th February 2025
London-based insurtech platform Insurwave has announced the appointment of Premal Gohil as Chief Financial Officer. In his new role, Gohil will shape the company’s financial strategy, enhance operational efficiency, and support its growth ambitions to maximise the platform’s value for stakeholders. David Power, CEO of Insurwave, expressed enthusiasm for Gohil’s appointment, stating, ... Read the full article
The Hanover reports $1.5bn in NPW for Q4’24 as CoR improves to 89.2%
5th February 2025
The Hanover Insurance Group has reported an increase in net premiums written (NPW) for the fourth quarter of 2024 to $1.45 billion or 7.4%, as well as an improved combined ratio of 89.2% from 94.2% in Q4 2023. The improvement in the combined ratio was driven by a lower catastrophe ratio ... Read the full article
Markel transitions to Guidewire Cloud to enhance claims and IT operations
5th February 2025
Markel, the insurance division of Markel Group Inc., and Guidewire announced the successful migration of Guidewire ClaimCenter from an on-premise setup to Guidewire Cloud. This transition enhances and streamlines Markel’s claims and IT operations. The company deployed ClaimCenter on Guidewire Cloud to support its specialty lines across its US operations. "Migrating ClaimCenter ... Read the full article
Willis appoints Derrick Easton as Global Head of Alternative Risk Transfer and Western Europe lead
5th February 2025
Willis, a WTW business, an advisory, broking, and solutions company, has named Derrick Easton as the new Global Head of Alternative Risk Transfer (ART) and Head of Western Europe for Risk and Analytics. Since joining WTW in 2015, Easton has led the company’s ART team in the US, bringing a strong ... Read the full article
Pen Underwriting reshapes divisional structure to strengthen regional growth
5th February 2025
Pen Underwriting has introduced a streamlined divisional structure aimed at enhancing its core commercial underwriting services across the UK and Ireland, designed to benefit brokers and support the company’s regional expansion strategy. Sarah Breslin will lead the newly formed Commercial UK & Ireland division as Managing Director, bringing together teams with ... Read the full article
Price Forbes appoints Gökçen Süer to lead its Turkish operations
5th February 2025
Global specialty broker Price Forbes, part of the Ardonagh Group, has announced the appointment of Gökçen Süer as Chairman & CEO of its newly rebranded Turkish operations, Price Forbes Türkiye. Süer, a veteran of the Turkish broking market, brings over 25 years of wholesale and reinsurance experience to the role. The executive’s ... Read the full article
Howden reports revenue of £3bn in 2024 with 30% organic reinsurance growth
5th February 2025
Howden has disclosed that adjusted revenue grew by 23% to £3.01 billion in 2024, with organic growth of 30% in its reinsurance segment, driven by a strong performance of the Treaty business across London and North America, Howden Re Programs and binder business. According to the firm, new talent contributed much ... Read the full article
Global commercial insurance rates down 2% in Q4’24: Marsh
5th February 2025
After seven years of rate increases, global commercial insurance rates declined for the second consecutive quarter in Q4 2024, by 2% following a 1% fall in Q3, continuing the moderating trend seen in the Marsh Global Insurance Market Index since Q1 2021. The analysis from insurance broker Marsh shows that during ... Read the full article
Schaefer named Global Head of Casualty & EIL at SCOR Business Solutions
5th February 2025
French reinsurer SCOR has appointed Holger Schaefer as Global Head of Casualty & EIL, within SCOR Business Solutions, as of 1st March 2025. He will replace Daniel Carerras, who took on the role of Chief Underwriting Officer, Casualty, across Insurance and Reinsurance in 2024. Schaefer is tasked with leading the teams across ... Read the full article
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