Reinsurance News
IDF to offer free modelling tools suit for climate & disaster risk analysis
28th April 2025
The Insurance Development Forum (IDF) Risk Modelling Steering Group (RMSG) has launched a new IDF web page that houses a suite of free, open access risk modelling tools for climate and disaster risk analysis. IDF stated: “Designed to advance climate and disaster risk understanding and quantification of disaster risk globally, open ... Read the full article
Level of rate established in reinsurance market isn’t going to trend down: RenRe CEO
28th April 2025
Kevin O'Donnell, President and CEO of RenaissanceRe, stated that the current level of rate established in the reinsurance market is not going to trend down, affirming that there is no indication that the market is returning to pre-23 levels. Speaking during RenRe's first-quarter 2025 earnings call, O'Donnell explained that the ... Read the full article
Nick Tye retires as CEO of Carbon Underwriting
28th April 2025
Carbon Underwriting Limited, a specialist independent managing general underwriter and Lloyd’s syndicate, has announced the retirement of Co-Founder and CEO Nicholas (Nick) Tye due to health reasons. After being diagnosed with progressive multiple sclerosis, Tye has made the decision to step back from his role to focus on his health and ... Read the full article
Hong Kong re/insurance market sees gross premiums increase to $637.8bn in 2024
28th April 2025
The Hong Kong Insurance Authority (IA) has released provisional insurance and reinsurance market statistics for 2024, reporting a total of $637.8 billion in gross premiums for the year, a notable increase compared to the $549.7 billion reported for 2023. Long-term business saw significant growth, with new office premiums (excluding Retirement Scheme ... Read the full article
Hughes joins Rokstone as Head of Specialty Reinsurance
28th April 2025
Rokstone, a global specialty re/insurance managing general agent (MGA) and part of the Aventum Group, has announced the appointment of Eddie Hughes as its new Head of Specialty Reinsurance. Leveraging his two decades of industry experience, Hughes will be in charge of overseeing Rokstone’s global Specialty Reinsurance portfolio, spanning ... Read the full article
VDE Americas & kWh Analytics partner to increase hail resiliency for solar assets
28th April 2025
VDE Americas, a provider of technical advisory and risk mitigation for the solar power industry, has partnered with climate insurance provider kWh Analytics to launch a new assessment form that evaluates solar site hail vulnerability and protective measures. The insurance industry has been driven to adopt resilience measures due to the ... Read the full article
PERILS lifts industry loss estimate for windstorm Éowyn to €696m
28th April 2025
Zurich-domiciled catastrophe insurance data provider, PERILS, has upped the industry loss in its second estimate for extratropical windstorm “Éowyn”, also known as “Gilles”, at €696 million from €619 million in March. The loss estimate covers the property lines of business and is based on loss data collected from affected insurers. The storm ... Read the full article
Everen Specialty appoints Carla Greaves as CUO
28th April 2025
Bermuda-domiciled global re/insurer for energy markets, Everen Specialty, has appointed Carla Greaves as its Chief Underwriting Officer (CUO). She succeeds Jane Peterson, Interim CUO, who will continue in a consultancy capacity to facilitate the transition. Additionally, Greaves will join the re/insurer's executive leadership team, also based in the Bermuda office, later ... Read the full article
ARC and Klapton Re sign agreement to expand climate insurance across Africa
28th April 2025
ARC Ltd and Klapton Re have signed a Memorandum of Understanding (MoU) to establish a new partnership aimed at strengthening climate risk protection across Africa. Under the MoU, the two firms will reportedly co-develop and roll out new insurance products tailored to the needs of farmers and low-income families, enabling them ... Read the full article
Chaucer expands International Property Division with two senior appointments
28th April 2025
Chaucer Group, the specialty re/insurance business, has announced the appointments of Emma Brown and Andy Cleair as Class Underwriters within its International Property division. Both are based in London and report directly to Mel Smart, Head of International Property Fac. In their new roles, Brown and Cleair will work closely with ... Read the full article
Trium Cyber & HITRUST develop insurance and assurance process for better cyber coverage
28th April 2025
Trium Cyber, the authorised service company for Syndicate 1322 at Lloyd’s, has developed in collaboration with HITRUST, an innovative approach to more accurately quantify risk by combining actuarial science with third-party security certification. Thanks to this collaboration, Trium will be able to provide greater cyber coverage at lower cost, the firm ... Read the full article
AM Best revises outlook to positive for SiriusPoint
28th April 2025
AM Best has revised the outlook of SiriusPoint's rated operating subsidiaries to positive from stable, citing the firm's consolidated balance sheet strength, operating performance, neutral business profile, and appropriate enterprise risk management. The rating agency explained that revising the outlook to positive from stable reflects SiriusPoint’s improved balance sheet strength following ... Read the full article
Over one-third of London market firms actively using AI: LMA
28th April 2025
A recent survey by the Lloyd’s Market Association (LMA) found that 40% of London market firms are actively using AI tools in some areas or have even widely integrated them into their workflows; however, AI adoption still faces significant barriers. The LMA recently hosted a seminar on the use of AI ... Read the full article
Ping An P&C reports 1% insurance revenue and 8% premium income growth in Q1’25
28th April 2025
Ping An Insurance Company of China has announced its first quarter financial results, reporting that its property & casualty (P&C) segment maintained steady insurance business growth and good business quality. The P&C sector demonstrated a strong performance, with premium income increasing by 7.7% year-on-year to RMB 85.138 billion. Insurance revenue also ... Read the full article
General Daniel Hokanson appointed to Duck Creek’s Board of Directors
28th April 2025
Duck Creek Technologies, a provider of software solutions for property and casualty (P&C) and general insurance, has announced the appointment of General Daniel Hokanson, USA, Ret. to the company’s board of directors. Hokanson, a retired 4-Star General, served as a member of the Joint Chiefs of Staff and the 29th Chief ... Read the full article
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