Reinsurance News
Allianz lifts financial targets through 2027 after surpassing goals
10th December 2024
After exceeding its 2024 economic goals, Allianz has raised its financial targets for the 2024-2027 cycle, aiming for a property and casualty operating profit of approximately €9.5 billion by 2027, with a combined ratio of 92-93%. In its other segments, the company has anticipated a Life and Health operating profit of ... Read the full article
Aon names Ciaran Healy as Global Captive Leader for Commercial Risk Solutions
10th December 2024
Global insurance and reinsurance broker Aon has promoted Ciaran Healy to Global Captive Leader for Commercial Risk Solutions, effective January 1st, 2025, based in Dublin. The promotion of Healy sees John English take on the role of Chairman of Aon Global Risk Consulting (AGRC). In the new role, Healy will focus on ... Read the full article
AXA and HK Express launch new flight delay parametric protection product
10th December 2024
AXA Hong Kong and Macau (AXA) and HK Express, supported by AXA Partners, have launched new flight delay parametric protection for HK Express customers who purchase U-First. This makes HK Express the first airline in Asia to offer parametric delay benefits. Following their exclusive partnership earlier this year, AXA and ... Read the full article
AM Best affirms Singapore Re’s Credit Ratings with stable outlook
10th December 2024
AM Best has affirmed Singapore Reinsurance Corporation Limited’s (Singapore Re) Financial Strength Rating of A and Long-Term Issuer Credit Rating of “a”, with a stable outlook for these ratings. The ratings reflect Singapore Re’s balance sheet strength, which AM Best assesses as strong, adequate operating performance, limited business profile, and effective ... Read the full article
L&G posts £10bn in bulk annuity volumes for Institutional Retirement division
10th December 2024
Legal and General Plc (L&G) has revealed that its shares have climbed higher after the organisation posted an update on its Institutional Retirement division, which specialises in bulk annuities. The company has reaffirmed its solid outlook for the division, reporting bulk annuity volumes of £10 billion year to date, with exclusive ... Read the full article
Graham to lead DUAL NA’s EIURS as EVP, Frey named SVP of Professional Liability
9th December 2024
DUAL North America has announced two new underwriting leadership appointments in its casualty divisions, Andreas Graham as Executive Vice President of the EIURS team, a division of DUAL, and Ed Frey as Senior Vice President of Professional Liability. Leading the EIURS team at DUAL, Graham will head the middle market energy ... Read the full article
Davies to acquire Premier Claims Management to expand North American claims services
9th December 2024
Davies, a professional services and technology specialist, has announced its acquisition of Premier Claims Management, LLC (PCM), a claims service provider specialising in professional and general liability claims. Based in Santa Ana, California, PCM’s addition strengthens Davies’ North American (NA) services by expanding its professional and general liability claims capabilities and ... Read the full article
Businesses must ensure they take a considered approach when they implement AI: Beazley’s Cox
9th December 2024
Despite the excitement surrounding artificial intelligence's (AI) potential, businesses should take stock and ensure that they are taking a considered approach as they implement the technology into their systems, says Adrian Cox, Chief Executive Officer (CEO) of Beazley, the specialist insurer. "AI and how it can transform business has dominated conversation ... Read the full article
AM Best affirms Lancashire’s credit ratings
9th December 2024
AM Best has affirmed the credit ratings for Bermuda-based Lancashire Holdings Limited and its subsidiaries, assigning a stable outlook. The agency affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” (Excellent) of Lancashire Insurance Company Limited and Lancashire Insurance Company (UK) ... Read the full article
Record growth in W&I insurance usage in H1’24: HWF Partners
9th December 2024
The use of warranty and indemnity (W&I) insurance reached record levels in the first half of 2024, with 1,540 policies placed and an increase in claims and payouts, according to a market study by HWF Partners. W&I insurance protects parties in mergers and acquisitions (M&A) transactions from financial loss due to ... Read the full article
WNS and Canopius extend strategic partnership
9th December 2024
WNS, a digital-led business transformation and services partner, has extended its transformation-led strategic engagement with specialty and P&C lines re/insurer, Canopius Group. Through this collaboration, WNS aims to strengthen Canopius' existing partnerships by integrating proprietary, technology-led solutions which will enhance operations, foster innovation, and drive market differentiation. Furthermore, WNS will collaborate with ... Read the full article
Moody’s maintains stable outlook on US life insurance
9th December 2024
Moody's Ratings has issued a stable outlook for the US life insurance sector in 2025, citing steady economic growth, and sustained high interest rates as key drivers. Moody's forecasts that the US economy will grow at a pace of 2% in 2025 and 1.8% in 2026, while also expecting long-term interest ... Read the full article
Honduras receives CCRIF payout of $4.7m following excessive rainfall event
9th December 2024
Excessive rains have triggered a payout of $4.665 million from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) within two weeks for The Government of Honduras. The event took place from 14th to 19th of November, significantly impacting roads and cutting off several communities. Honduras joined the CCRIF in 2024, purchasing parametric insurance ... Read the full article
K2 International opens box at Lloyd’s of London
9th December 2024
K2 Group Holdings Limited, a division of K2 Insurance Services and a London-based specialty insurance and reinsurance underwriting platform, has announced the opening of its box in Lloyd’s of London. Three divisions of K2 International will be represented: K2 Rubicon Specialty, K2 Crisis Management and K2 Property D&F. Key underwriters will be ... Read the full article
Invesco appoints Joe Steidl as Head of UK Insurance distribution
9th December 2024
Global asset manager Invesco has announced the appointment of Joe Steidl as Head of UK Insurance Distribution. Based in London, Steidl will report to Sachin Bhatia, Head of UK Pensions & EMEA Consultant Relations. In his new role, Steidl will join the UK distribution management team, where he will be responsible for ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
