Reinsurance News
Aon appoints Renuka Nar as Head of Broking for L&H Reinsurance Solutions, India
8th January 2025
Global insurance and reinsurance broking group Aon has announced the appointment of Renuka Nar as Head of Broking for its Life and Health (L&H) reinsurance business in India. In her new role, Nar will report to Shailendra Sapra, CEO of Reinsurance Solutions, India, and Danny Alexander, Head of Life Reinsurance at ... Read the full article
DXC launches AI Impact to address insurers’ most pressing challenges
8th January 2025
DXC Technology, a global technology services provider, has launched AI Impact, an initiative designed to help customers across industries innovate securely and achieve real business outcomes through artificial intelligence (AI). DXC supports global companies in managing mission-critical systems and operations while modernising IT, optimising data architectures, and ensuring security and scalability ... Read the full article
CCR Re sponsors seventh vintage of its 157 Re reinsurance sidecar
8th January 2025
French reinsurer CCR Re has sponsored the seventh vintage of its collateralised reinsurance sidecar vehicle, 157 Re 25. According to the announcement, CCR Re has made a number of improvements to the operation of 157 Re to facilitate future renewals, as well as aligning with its strategy of diversifying its sources ... Read the full article
Aon partners with Moody’s to enhance credit risk management solutions
8th January 2025
Aon, a global professional services firm, has formed a partnership with Moody’s to provide insurance and risk management solutions for clients. This collaboration allows Aon’s Credit Solutions teams to connect their clients with Moody’s, helping them unlock valuable credit risk insights using Moody’s credit data and analytics. By combining Aon’s client expertise ... Read the full article
Jack Falvey takes over as CEO of Falvey Insurance
8th January 2025
Jack Falvey has officially assumed the role of Chief Executive Officer of maritime risks insurer, Falvey Insurance Group, effective January 1st, 2025, following the previously announced appointment of Mike Falvey as the Executive Chairman. Falvey joined the insurer in 2013 as a business analyst making his way to Vice President ... Read the full article
Core Specialty agrees renewal rights transaction with Argo
7th January 2025
Insurer Core Specialty and its subsidiaries have entered into a series of transactions with certain subsidiaries of Argo Group International Holdings to acquire the renewal rights and related unearned premium reserves for a significant portion of Argo’s professional lines business, Argo Pro. The Argo Pro business provides professional lines insurance products ... Read the full article
Porch forms homeowners insurance reciprocal exchange and sells HOA for $105m
7th January 2025
Porch Group, a homeowners insurance and vertical software platform, has completed the formation of Porch Insurance Reciprocal Exchange (PIRE), a new homeowners insurance reciprocal exchange, alongside the sale of Homeowners of America Insurance Company (HOA) to PIRE. This follows Porch receiving approval from the Texas Department of Insurance (TDI) in ... Read the full article
Reinsurance market to remain largely attractive for buyers and sellers in 2025: Aon
7th January 2025
Global broking group Aon expects the reinsurance market to remain largely attractive for both buyers and sellers of protection in the months ahead, but has called on reinsurers to demonstrate their value as they target top line growth. In its latest Reinsurance Market Dynamics report, which explores the January 1st, 2025, ... Read the full article
Belgium’s Ethias Group launches reinsurance entity Ethias Re
7th January 2025
Benoît-Laurent Yerna, Chief Risk Officer (CRO) and Board Member of Belgium domiciled insurer Ethias Group, has revealed that after months of work, Ethias Re, the firm's brand new reinsurance company, has officially launched. Ethias Group is more than a century old and has two main headquarters in Liege and Hasselt, with ... Read the full article
Volt Underwriting names Louis Scott as Senior Underwriter for Power & Renewable Energy
7th January 2025
London-domiciled, Lloyd’s Approved Coverholder, energy sector managing general agent Volt Underwriting has appointed Louis Scott as Senior Underwriter, Power and Renewable Energy, effective immediately. Scott joins the firm after spending 12 years at Travelers Syndicate Management, where most recently, he was the Managing Senior Underwriter and Head of Power & Utilities. Prior ... Read the full article
Lovell Minnick Partners makes strategic investment in Broadstone
7th January 2025
Lovell Minnick Partners (LMP), a private equity firm focused on investing in financial services, business services and fintech, has signed a definitive agreement to make a strategic growth investment in the independent financial services consultancy, Broadstone. The transaction is expected to close in the second quarter of 2025, subject to customary ... Read the full article
Ryan Specialty to expand property cat portfolio with $525m Velocity Risk acquisition
7th January 2025
Specialty insurer Ryan Specialty has agreed to acquire Nashville, Tennessee-based managing general underwriter Velocity Risk Underwriters, LLC for $525 million from funds managed by Oaktree Capital Management, L.P., expanding its property catastrophe portfolio. Expected to close early this year, Velocity, a provider of first-party insurance for catastrophe exposed properties, will become ... Read the full article
Robert Malone named Head of AXA XL’s Large Accounts & Portfolio Management for Cyber, Americas
7th January 2025
AXA XL, the property and casualty (P&C) and specialty risk division of global insurer AXA, has appointed Robert Malone as Head of Large Accounts and Portfolio Management of its Cyber Insurance team in the Americas. Based in New York, Malone reports to Michelle Chia, Chief Underwriting Officer for Cyber, Select and ... Read the full article
US commercial insurance composite rates up 3.75% in 2024: MarketScout
7th January 2025
The US commercial insurance sector saw a composite rate increase of 2.64% in Q4 2024, bringing the total increase for the year to 3.75%, down from 4.56% in 2023, according to a recent analysis by MarketScout. Richard Kerr, CEO of Novatae, observed that property rates are slowing due to fewer insured ... Read the full article
Alejandro Solorzano joins Augment Risk to expand LatAm parametric offering
7th January 2025
Risk capital and broking solutions firm, Augment Risk, has hired Alejandro Solorzano from XS Global, who joins the organisation to help it expand its parametric risk transfer offering across the Latin America region. Solorzano has joined the company as Associate Partner, LATAM Parametric, where he will be based in Miami. From what ... Read the full article
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