Reinsurance News
PIC concludes first full scheme-buy in with Mosaic
20th December 2024
Pension Insurance Corporation (PIC), the specialist insurer of defined benefit pension schemes, has concluded its first full scheme buy-in with Mosaic. Mosaic is PIC's streamlined service for pension schemes with assets under £100 million. According to the announcement, the £20 million transaction covers the benefits of 103 members of the General Council ... Read the full article
Gallagher adds Marsh’s Ashtari to Middle East and Africa specialty & facultative reinsurance team
20th December 2024
Insurance and reinsurance broking group Gallagher has announced the appointment of Hassan Ashtari as Chief Client Officer for its Middle East and Africa specialty and facultative reinsurance operations. This newly created role reflects Gallagher’s commitment to enhancing its client offering and strengthening its presence in the region. Ashtari's new position will centre ... Read the full article
MAPTYCS names Daniel Grimwood-Bird as Chief Revenue Officer
20th December 2024
MAPTYCS, a provider of advanced geospatial analytics solutions for the insurance sector, has announced the appointment of Daniel Grimwood-Bird as its Chief Revenue Officer. In this role, Grimwood-Bird will spearhead the company’s sales and marketing initiatives, focusing on accelerating growth across the UK and Europe. Founded in 2016 and based in the ... Read the full article
Final industry loss estimate for Australia Christmas storms raised to AU $1.60bn: PERILS
20th December 2024
Zurich-based catastrophe insurance data provider PERILS has released its fourth and final insurance industry loss estimate for the Australia Christmas storms which impacted the the states of Victoria, New South Wales, and Queensland during the period of 23 - 29 December 2023, lifting the figure to AU $1.606 billion. PERILS ... Read the full article
DARAG concludes sale of North American and Bermuda operations to RiverStone Group
20th December 2024
DARAG Group, a legacy acquirer specialising in the European market, has officially completed the transfer of its North American and Bermuda operations to RiverStone Group, after obtaining the necessary regulatory approval. This transaction, originally announced earlier this year, is expected to streamline DARAG's operations and enable the company ... Read the full article
Lockton Re launches new segment dedicated to Programmes & MGA’s in US
20th December 2024
Lockton Re, the reinsurance arm of the independent insurance broker, has launched Lockton Re Portfolio Solutions, a business segment dedicated to Programmes and Managing General Agents (MGA) in the United States. The new business segment will offer a fully customized range of services with an integrated and tailored approach, with a ... Read the full article
W.R. Berkley launches branch office in India
20th December 2024
W.R. Berkley Corporation has announced that Berkley Insurance Company has received regulatory approval from the International Financial Services Centres Authority (IFSCA) to launch a branch office in India. The new branch, Berkley Insurance Company, IFSC Branch GIFT City, Gujarat, marks a notable milestone for Berkley Insurance Asia as it continues to ... Read the full article
Prevensure Re appoints Chandan Thakur as Divisional Director, Cyber & Financial Lines
20th December 2024
Prevensure Group, a provider of re/insurance broking, underwriting services, and bespoke risk management solutions, has announced the appointment of Chandan Thakur as Divisional Director – Cyber & Financial Lines for its Prevensure Re team. Prevensure Re is the reinsurance broking arm of Prevensure group, based in Dubai. The group recently stated, “With ... Read the full article
Unlocking growth potential for insurers in the FemHealth sector: TMK
20th December 2024
International insurer Tokio Marine Kiln (TMK) has released a new report outlining the market opportunity for brokers and insurers to support founders in the ‘FemHealth’ sector, emphasising that insurance is crucial for unlocking growth in this space. FemHealth companies focus on women’s health issues such as menstruation, contraception, fertility, pregnancy, menopause, ... Read the full article
Allianz UK announces several hires and promotions for its commercial digital trading team
20th December 2024
Allianz UK is heavily investing in its commercial digital trading team to accelerate profitable growth in the digital marketplace. This includes new appointments and promotions within the team, and an enhanced focus on seamless digital journeys. By building on existing strong broker relationships and digital foundations, Allianz aims to solidify its ... Read the full article
Majority of US insurers expect to exceed a growth rate of 5% in 2025: Aon
19th December 2024
Global insurance and reinsurance broking group Aon has released its latest capital poll, which showcases that most US insurers expect to exceed a growth rate of 5% in 2025. According to the firm, many survey respondents foresee a favorable environment conducive to direct premium growth, with roughly 44% expecting to grow ... Read the full article
Stephen Frank appointed President of GFIA
19th December 2024
The Global Federation of Insurance Associations (GFIA), which represents the interests of the global insurance industry, has appointed Stephen Frank as its new president and made changes to its executive committee during its general assembly in South Africa. With over 20 years of experience in the financial services sector, Frank has ... Read the full article
MS&AD Ventures increases fund size to $400m
19th December 2024
MS&AD’s corporate venture fund, MS&AD Ventures, has increased by US $100 million, bringing the fund’s total amount under management to US $400 million. MS&AD Ventures, the first Corporate Venture Capital (CVC) of a Japanese insurance company, has been steadily growing its portfolio since its establishment in 2018. The firm focuses on early-stage ... Read the full article
Prudential Financial completes universal life block reinsurance deal with Wilton Re
19th December 2024
US insurance and investment firm, Prudential Financial Inc., has closed a reinsurance transaction for a portion of its guaranteed universal life block with Wilton Re. Readers may recall, in August, Prudential Financial entered into an agreement with Wilton Re to reinsure approximately $11 billion of reserves supporting a portion of ... Read the full article
AIG’s Shawn Yingling named Chief Retail Distribution Officer for RSUM
19th December 2024
Ryan Specialty has announced the appointment of Shawn Yingling as Chief Retail Distribution Officer for its specialty underwriting segment, Ryan Specialty Underwriting Managers (RSUM). Miles Wuller, President & CEO of RSUM, expressed enthusiasm for Yingling’s appointment, stating, “I am thrilled to welcome Shawn into the RSUM family. He brings a unique ... Read the full article
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