Reinsurance News
OAK Re teams up with Moody’s to enhance global risk modelling for 2025 underwriting launch
17th December 2024
Reinsurance provider Oak Reinsurance (OAK Re), authorised to underwrite business beginning January 1, 2025, through its Lloyd’s Syndicate 2843, has partnered with Moody’s to integrate applications from the Moody’s Intelligent Risk Platform (including Risk Modeller and ExposureIQ). This collaboration enables OAK Re to gain a comprehensive, high-definition view of risks across ... Read the full article
MNRB appoints Dato’ Rudy Rodzila Che Lamin as Interim President & Group CEO
17th December 2024
MNRB Holdings Berhad, the parent company of Malaysian Re, has announced the appointment of Dato’ Rudy Rodzila Che Lamin as Interim President & Group CEO. Dato’ Rudy succeeds Zaharudin Daud who served as President & Group CEO of MNRB for the past four years. In his new role, he will collaborate with ... Read the full article
Bridge Specialty Group takes on assets of American Risk Management Resources Network
17th December 2024
J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc., along with David Dybdahl and Cynthia Statz, owners of American Risk Management Resources Network, LLC (ARMR), recently announced that Brown & Brown, a national insurance intermediary, Inc.'s subsidiary, Bridge Specialty Group, has acquired the assets of ARMR. ARMR is a ... Read the full article
Agile appoints AXA XL’s David Hughes as Head of Marine and Deputy Active Underwriter
17th December 2024
Agile Insurance Group has announced the appointment of David Hughes as Head of Marine and Deputy Active Underwriter for its Lloyd’s syndicate, Agile Underwriting Services Syndicate AUS2427. Based in London, Hughes will operate with a global mandate and oversee a AUS$10 million line size. Robin Barham, CEO of Agile, stated, "We’re very ... Read the full article
US commercial insurance to remain stable, property performs despite cat losses: Lockton
17th December 2024
According to a new Lockton Market Update report, while the US commercial insurance market remains generally stable and predictable for buyers, a sense of fragility persists as insurers and business leaders monitor natural catastrophes, rising social inflation, and an uncertain geopolitical landscape. Lockton, the independent insurance broker, also highlights US economic ... Read the full article
Newline expands operations in Hong Kong
17th December 2024
Specialty insurer Newline Group (Newline) has expanded its operations in Asia with the establishment of Newline Hong Kong Services Limited, appointing Carson Choi as Head of Financial Lines. The company has had a presence in Asia since 2007, when it opened its Singapore office. The Hong Kong office will offer the ... Read the full article
Rohan Bhappu to succeed Goh Chye Huat as CEO of Howden Asia
17th December 2024
Global insurance and reinsurance broking group Howden has appointed Rohan Bhappu as Deputy Chief Executive Officer (CEO), Howden Asia, reporting to current CEO of the business, Goh Chye Huat, effective June 2025, based in Hong Kong. Bhappu will become CEO of Howden Asia on October 1st, 2025, reporting to David Howden, ... Read the full article
Commercial property renewal rates dip amid rising trends: Ivans
17th December 2024
Ivans, a provider of cloud-based software for the insurance industry, has released the November 2024 results of its Ivans Index, a key indicator of premium renewal rate changes, which reveals year-over-year increases in average renewal rates for numerous lines of business. The latest data reveals increases for Commercial Auto, BOP, General ... Read the full article
AXIS enters $2.3bn LPT reinsurance agreement with Enstar
17th December 2024
Global insurer and reinsurer AXIS Capital Holdings Limited and global legacy re/insurance specialist Enstar Group Limited have entered into a 75% ground-up quota share loss portfolio transfer (LPT) reinsurance agreement, designed to cover a portfolio of the former's reinsurance segment business. This agreement sees AXIS retrocede to Enstar $2.3 billion of ... Read the full article
Cincinnati Financial announces leadership promotions for key insurance operations
17th December 2024
Insurer Cincinnati Financial Corporation is strengthening its leadership team to drive profitable growth in its insurance operations. Effective January 1, 2025, the company will promote experienced leaders to shape the strategies for its commercial/life and personal/specialty divisions. President & CEO Stephen M. Spray commented: "Cincinnati Insurance has achieved significant profitable growth over ... Read the full article
Risk Solved partners with TCG Process to enable end-to-end automation of inbound docs
17th December 2024
Global risk management platform provider Risk Solved, and TCG Process, an international intelligent document processing and automation solutions provider, have partnered to enable greater end-to-end process automation of inbound documents, such as sales and risk placement enquiries, to the Risk Solved solution. This move is expected to improve risk data and ... Read the full article
Allianz withdraws offer to acquire majority stake in Income Insurance
16th December 2024
Following the Singapore Government’s announcement during the parliament sitting on October 14th and subsequent changes to the Insurance Act, Allianz Group has withdrawn its pre-conditional voluntary cash general offer to acquire a majority stake in Income Insurance Limited. The original offer was announced on July 17th, 2024 and was made ... Read the full article
CyberCube enters into multi-year partnership with Mathison Insurance
16th December 2024
CyberCube, a provider of cyber risk analytics for the insurance sector, has signed a multi-year partnership with Mathison Insurance Partners, in a move that will allow Mathison to deliver enhanced cyber risk solutions to its retail partners and clients. For those unaware, Mathison Insurance Partners, is a specialist wholesale brokerage based ... Read the full article
Norway provides $4.5m to ARC’s SACPIP-Africa to strengthen climate resilience
16th December 2024
Norway, through the Norwegian Agency for Development Cooperation, has provided NOK 50 million (approximately $4.5 million) to the African Risk Capacity Limited’s (ARC Ltd) Supporting Adaptation Capacity Through Increased Parametric Insurance Penetration in Africa (SACPIP-Africa) initiative. The partnership was formalised during a signing ceremony at the CARICOM Pavilion at COP29 on ... Read the full article
John Latter to lead Claims for Chubb Overseas General
16th December 2024
Global property and casualty insurer Chubb has appointed John Latter to lead Claims for Chubb Overseas General (COG), effective immediately, based out of London. In this new role, Latter will oversee Chubb's claims organization in Europe, the Middle East, Asia Pacific, Latin America and the Far East. He will also lead ... Read the full article
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