Reinsurance News
WTW secures broking licence in Saudi, names AlSudairy as Reinsurance Broking Head
20th January 2025
WTW has secured a licence to act as a reinsurance broker in the Kingdom of Saudi Arabia, naming Mohammed S. AlSudairy as the new Head of Reinsurance Broking, WTW Saudi Arabia. AlSudairy reportedly holds extensive experience of managing and overseeing treaty, facultative and claims activities for the Saudi Arabian market, having ... Read the full article
Incline P&C Group appoints Patel as CRSO, Wiedenfeld becomes CFO
20th January 2025
Property and casualty (P&C) insurance program market services firm, Incline P&C Group, has bolstered its leadership team with the appointments of Sheel J. Patel as Chief Risk and Strategy Officer (CRSO) and Lauren Wiedenfeld as Chief Financial Officer (CFO). Patel is transitioning into the CRSO role after previously serving as the firm's ... Read the full article
World Economic Forum: 64% of experts predict fragmented global order amid rising threats
20th January 2025
The World Economic Forum (WEF), a non-governmental organisation committed to improving global economic and social conditions, has released the 20th edition of its Global Risks Report, which highlights an increasingly fragmented global landscape where escalating geopolitical, environmental, societal, and technological challenges threaten both stability and progress. While economic risks are less ... Read the full article
Lloyd’s London Bridge investment platform hits capital deployment of $1.92bn in 2024
20th January 2025
At the end of 2024, Lloyd’s London Bridge risk transformation platform reportedly reached a capital deployment milestone of $1.92 billion, alongside $2.55 billion committed from institutional investors. As per a new announcement from the leading marketplace for insurance and reinsurance, eight Lloyd's managing agents are now actively utilising the London Bridge ... Read the full article
CatIQ estimates CAD 991m in insured damage from Toronto/Ontario July flash flooding
17th January 2025
Catastrophe Indices and Quantification Inc. (CatIQ) has disclosed its latest industry loss estimate for the flash flooding in southern Ontario between July 15-16, 2024, estimating CAD 991 million in insured damage. During July 15-16, 2024, southern Ontario and Toronto, experienced severe flash flooding due to heavy rainfall exceeding 120mm in some ... Read the full article
AM Best maintains stable outlook on India’s non-life insurance sector amid strong growth
17th January 2025
AM Best, the credit rating agency, has affirmed a stable outlook for India's non-life insurance sector, citing strong growth potential fuelled by regulatory initiatives and increasing insurance demand. Insurance premiums in India’s non-life segment grew at a double-digit rate for the fiscal year ending 31 March 2024 (FY 2024), as detailed ... Read the full article
BOXX welcomes three new hires to support US growth plans
17th January 2025
BOXX Insurance, a global cyber insurtech, continues its expansion plans in the US with three new appointments to its Product and Distribution management team. Erik Tifft has been appointed Head of Products, bringing over two decades of underwriting, insurance products and cyber experience to BOXX. In his new role, he will continue ... Read the full article
Swiss Re predicts 3% higher mortality by 2033, steady growth for life insurers in 2025
17th January 2025
Paul Murray, CEO of Life & Health Reinsurance at Swiss Re offers his perspective on the key themes likely to shape life and health insurance and reinsurance in 2025. Drawing on Swiss Re's expertise, Murray emphasises the importance of thoughtful forecasting and proactive strategies in navigating the future. Forecasting the future is ... Read the full article
HDI Global Canada launches A&H division led by Michael Krem
17th January 2025
HDI Global SE has launched an Accident & Health (A&H) division in Canada, which will be led by Michael Krem. Krem joins HDI Global from AIG, where he served as Director of National Business Development for A&H, overseeing A&H distribution in Canada, managing broker and client relationships, and fostering strategic partnerships. Prior ... Read the full article
Understanding of market bifurcation key for insurers to achieve success: Oxbow Partners
17th January 2025
As underwriters adopt a new ‘bifurcated’ approach to their operating models, insurance companies must develop a clear understanding of how market bifurcation will play out and strategically position themselves to succeed in the market, Oxbow Partners highlights in a recent report. ‘Bifurcation’, according to analysts, involves a more structured approach to ... Read the full article
Previsico & Descartes partner to provide UK corporate parametric flood insurance
17th January 2025
Flood forecasting specialist Previsico has partnered with Descartes to offer businesses in the UK and Ireland accurate flood warnings and quick claims payments through new parametric coverage. According to Steven Hayward, IoT Systems Manager at Previsico, a third of commercial properties in the UK are at risk from flooding. "Our partnership with ... Read the full article
Global megatrends driving slower growth and higher inflation: Munich Re
17th January 2025
Munich Re’s Economic Research team predicts that global megatrends will affect macroeconomic conditions over the long term, leading to a decade of slower growth and higher inflation. The firm forecasts average global economic growth of 2.5% and inflation of 2.2% in industrialised countries between 2025 and 2034, compared with 3.1% growth ... Read the full article
Harford Mutual names new leadership to support business expansion
17th January 2025
Harford Mutual Insurance Group, a provider of property and casualty insurance, has announced several leadership appointments aimed at reinforcing and advancing its strategic business objectives. Shane Crockett, CPCU, PMP, AFIS, has been named Vice President and Chief Underwriting Officer. In this role, he will oversee all underwriting business units, with a ... Read the full article
Convex selects Supercede to streamline reinsurance operations
17th January 2025
Convex, a specialty insurer and reinsurer, has selected Supercede’s platform to simplify its reinsurance operations and strengthen collaboration with market partners. The decision follows a year-long collaboration during which Convex tested Supercede’s ability to address operational challenges and improve the efficiency of reinsurance transactions. Supercede’s platform minimises the need for manual data ... Read the full article
Dynamic Re appoints Rana Nasr as Business Development & Underwriting Manager
17th January 2025
Underwriting agency Dynamic Reinsurance (Dynamic Re) has announced the appointment of Rana Nasr as its Business Development and Underwriting Manager for the MENA region. Nasr brings over a decade of reinsurance experience, specialising in property underwriting, portfolio growth, and client relationship management. She joins Dynamic Re from AIG, where she served as ... Read the full article
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