Reinsurance News
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
CCR Re rebrands as Arundo Re
17th January 2025
French reinsurer CCR Re, which operates in the traditional segments of property and casualty, life and health, and certain specialty lines, has rebranded as Arundo Re. The name change was announced on the 19th of September 2024. Roughly 18 months prior a consortium comprised of SMABTP and MACSF completed ... Read the full article
LA wildfire insured losses estimated between $20–$30bn: Gallagher Re
17th January 2025
Gallagher Re has revised its insured loss estimates for the Southern California wildfires to a range of $20 billion to $30 billion, with the portion anticipated to be ceded to reinsurance potentially reaching the mid-to-high single-digit billions. Although the Palisades and Eaton wildfires in Los Angeles are now expected to rank ... Read the full article
Geneva Association explores impact of ‘slowbalisation’ on re/insurers
17th January 2025
A new report by the Geneva Association explores the impact of 'slowbalisation' on insurers and reinsurers, highlighting challenges such as weakened global cooperation and limited risk diversification, while offering strategies to adapt to emerging risks and opportunities. The report notes that the global economy is shifting from integration to fragmentation as ... Read the full article
Charles Taylor promotes Cesar Augusto de Aragao Alves to Head of Brazil
17th January 2025
Charles Taylor, an independent global provider of claims solutions, has promoted Cesar Augusto de Aragao Alves to Head of Brazil soon after the opening of its new office in Rio de Janeiro. Alves’ appointment, along with the new office in Brazil, showcases Charles Taylor’s commitment to serving the growing demand ... Read the full article
WDF launches insured high-integrity carbon credits backed by AXA’s parametric insurance program
17th January 2025
AXA has provided custom parametric insurance solutions to support the insurance of the nonprofit Well Done Foundation’s (WDF) high-integrity carbon credits created by methane sequestration. This offering, described as the first in the industry, guarantees the authenticity and reliability of carbon credits with its "Insured Carbon" program. It aims to provide buyers ... Read the full article
QBE names Ashley Irwin SVP, Underwriting Leader, E&S Property in NA
17th January 2025
Australian insurer QBE has appointed Ashley Irwin as a Senior Vice President (SVP) and Underwriting Leader for excess and surplus (E&S) Property in North America. This appointment follows the recent hire of Claire Lill as Portfolio Manager to lead and strengthen the firm’s US Casualty offering. Irwin brings a wealth of ... Read the full article
Relm launches new insurance solutions for AI liability
17th January 2025
Insurance solutions provider Relm has launched three Artificial Intelligence (AI) liability solutions to address emerging risks in the AI ecosystem. These solutions aim to provide comprehensive coverage for businesses creating and adopting AI technology, as well as for those utilising AI in more peripheral capacities. "The rapid advancement and widespread adoption of ... Read the full article
Markel names Scott Jordan as Casualty Claims Manager in Australia
17th January 2025
Markel, the insurance arm of global re/insurer Markel Group Inc., has appointed Scott Jordan as Claims Manager, Casualty – Australia, based in Sydney reporting to Lisa Mitchell, Head of Claims for Australia. In his new role, Jordan will focus on providing customer service while aiming to achieve the best claims outcomes ... Read the full article
CoreLogic pegs LA wildfire insured loss at $35bn to $45bn
16th January 2025
Catastrophe risk modeller CoreLogic has estimated that residential and commercial insurance industry losses for the ongoing Eaton and Palisades Fires in Los Angeles, California, will fall between $35 billion and $45 billion. With the fires in Eaton and Palisades still burning as of Thursday afternoon, CoreLogic's estimated insured loss range is ... Read the full article
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