Reinsurance News
Marsh Asia promotes Martin Beck and Robert Jones
22nd January 2025
Insurance broker and risk advisor Marsh has appointed Martin Beck as the Energy Transition Leader and Robert Jones as the Renewable Energy Leader for Marsh Asia, based in Singapore. Beck has spent over five years at Marsh Asia, most recently serving as the Renewable Energy Practice Leader since September 2019. Previously, Beck ... Read the full article
Renewal rate increases for all commercial lines except workers’ comp: Ivans
21st January 2025
Ivans, a division of Applied Systems, has released its Q4 2024 and year-end results for the Ivans Index, showing year-over-year premium renewal rate increases across all major commercial lines of business, except Workers’ Compensation. Compared to Q3 2024, Commercial Auto, Business Owner’s Policy (BOP), and Umbrella saw higher average premium renewal ... Read the full article
Vantage expands distribution team with key appointments
21st January 2025
Vantage Group Holdings Ltd. (Vantage), a provider of insurance solutions, has appointed Chelsea B. Law as the Northeast Region Distribution Leader, effective immediately. Based in New York, Law will report directly to Leanne Berry, Chief Distribution Officer. Law will be a key member of Vantage's Insurance Distribution team, responsible for driving ... Read the full article
Flood Re launches Flo to promote property flood resilience across Scotland
21st January 2025
Flood Re is launching a new Flood Bus, named Flo, as part of a nationwide initiative in Scotland to promote property-level flood resilience and help communities prepare for future flooding events. The vehicle will be launched at the annual Scottish Flood Resilience conference on January 28-29, hosted by Sniffer, the Scotland ... Read the full article
Price Forbes Singapore appoints Davies Director of new specialism Power, Downstream, and Renewables
21st January 2025
Price Forbes Singapore has launched a new specialism, Power, Downstream and Renewables, to be led by Alex Davies as Director. Davies brings a wealth of experience with over 22 years in the engineering and insurance industries. His expertise covers construction, operations, and the development and financing of projects in the power, ... Read the full article
Zurich names Burford as Global Head of Financial Lines, Cyber, & Credit Lines Claims
21st January 2025
Zurich Insurance has announced the appointment of Debra Burford as Global Head of Financial Lines, Cyber, and Credit Lines Claims. In her new role, Burford will join the Global Large & Complex Claims team, focusing on driving excellence in Financial Lines Claims worldwide. She will collaborate with Claims and Underwriting teams ... Read the full article
Aventum multi-million investment to support global in-house tech development
21st January 2025
Aventum, a global re/insurance group, has dedicated $12 million to develop its own in-house technology function across all its international operations. This move has resulted in 25% of Aventum's global workforce now being dedicated to Tech & IT functions, including an Innovation Lab focused on fail fast innovation. The multi-million dollar investment ... Read the full article
Cat bond issuance hits record $17.7bn in 2024: Report
21st January 2025
Full-year catastrophe bond and related insurance-linked securities (ILS) issuance hit a record $17.7 billion in 2024 as fourth-quarter issuance of $4.5 billion more than offset a quiet third-quarter, taking the outstanding market to a new high of $49.5 billion, according to the latest Artemis quarterly cat bond report. Read the full article
WTW appoints Mark Mamone as Head of Technology Delivery and Strategy
21st January 2025
WTW, an advisory, broking, and solutions company, has announced the appointment of Mark Mamone as Head of Technology Delivery and Strategy to its Insurance Consulting and Technology (ICT) business. In this role, Mamone will drive WTW’s strategic approach to software delivery, enhancing its portfolio of insurance technology solutions. He will also ... Read the full article
Alexandre Veber and Adrien de Tessières join Howden Re’s International team
21st January 2025
Howden Re, the reinsurance division of Howden, has expanded its International team with two new hires: Alexandre Veber as Director, Broking & Structured solutions, and Adrien de Tessières as Managing Director, Analytics for France, Belgium, Luxembourg & Casualty in Europe. Veber joins Howden Re from Wakam, where he was Chief of ... Read the full article
PPL launches new Express Renewal functionality
21st January 2025
Placing Platform Limited (PPL) has launched its new Express Renewal functionality, which will reportedly make it quicker and easier for brokers to renew risks. According to PPL, this new development builds on the Express Contract functionality introduced in September and offers several key enhancements. PPL noted that it now enables fast-tracked ... Read the full article
Reinsurers’ 10-15% share of LA wildfire industry loss not enough to alter pricing trajectory: Evercore
21st January 2025
Analysts at Evercore ISI have increased their insured loss base case for the ongoing wildfires in Los Angeles to a range of $25 billion to $30 billion, stating that although an industry loss of this level will hit reinsurers, it's not enough to alter the trajectory of reinsurance pricing with ... Read the full article
Annual insured nat cat losses of ~$150bn becoming the ‘new normal’: Gallagher Re
21st January 2025
With the annual average loss from natural catastrophes between 2017 and 2024 costing insurers $146 billion, Gallagher Re has suggested the 'new normal' for annual insured losses is approaching $150 billion. As per the broker's new Natural Catastrophe and Climate Report, the estimated total direct economic costs from global natural perils ... Read the full article
AXA XL to offer insurance and risk management expertise to London GreenCity members
21st January 2025
AXA XL, the property and casualty (P&C) and specialty risk division of global insurer AXA, has strategically partnered with London GreenCity to offer expertise in insurance and risk management to the accelerator’s members. London GreenCity is the UK’s first accelerator for development-stage climate tech entrepreneurs involved in the development of new ... Read the full article
Generali and BPCE to establish €1.9trn asset management joint venture
21st January 2025
Generali and BPCE have signed a non-binding Memorandum of Understanding (MoU) to create a joint venture between their respective asset management operations. With over €1.9 trillion of assets under management (AUM), the combined business would reportedly create a global asset management platform with leading positions and critical scale in both Europe ... Read the full article
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