Reinsurance News
EPIC strengthens Midwest presence with key appointments
5th December 2024
EPIC Insurance Brokers & Consultants, a national insurance brokerage firm, has announced three key appointments in the Midwest region, further strengthening its presence in the St. Louis, MO area. The new hires bring decades of experience across employee benefits consulting and the property and casualty (P&C) sectors, with expertise in industries ... Read the full article
Suncorp partners with Duck Creek to modernise its insurance delivery solutions
5th December 2024
Insurer Suncorp has entered a multi-year agreement with Duck Creek, a provider of software solutions for property and casualty (P&C) and general insurance, to aid in its ongoing journey of technology modernisation and process simplification. Through this partnership, Duck Creek will deliver cloud-native, low-code core insurance delivery solutions as part of ... Read the full article
Beazley Security appoints senior leaders to drive growth and expansion
5th December 2024
Beazley Security, a provider of cyber risk management and insurance solutions, has announced the appointment of two senior leaders to drive its growth and geographic expansion. Stephanie Webb will lead sales operations in the UK and Europe, while Jason Deering will focus on strengthening client relationships across the Americas, including the ... Read the full article
Reinsurance market to stabilise next year, pricing to return to ~2023 levels: JP Morgan
4th December 2024
Analysts at JP Morgan expect the reinsurance market to stabilise in 2025 with pricing at still healthy levels despite minor declines, while profitability should be supported by a continuation of firm terms and conditions as attachment points hold. With the January 1st, 2025, reinsurance renewals fast approaching, industry observers will be ... Read the full article
AXA XL appoints new Client Relationship Leaders for US East and West Zones
4th December 2024
AXA XL, the property and casualty (P&C) and specialty risk division of AXA, has appointed Russell Caminske as Client Relationship Leader (CRL) for the US East Zone and Ryan Larson as the West Zone CRL. In their roles, Caminske and Larson will serve as key contacts for AXA XL’s clients across ... Read the full article
9M’24 results show $4.1bn underwriting gain for US P&C industry: AM Best
4th December 2024
According to AM Best, the US property and casualty (P&C) industry posted a $4.1 billion net underwriting gain in the first nine months of 2024, in comparison to a $32.1 billion loss recorded in the prior year period. At the same time, the US P&C industry recorded a $130 billion net ... Read the full article
The Geneva Association announces two new leadership appointments
4th December 2024
The Geneva Association has announced the appointment of Darren Pain as Director of Research and Dennis Noordhoek as Director of External Stakeholder Engagement, both effective 1 January 2025. Pain, who currently serves as Director Cyber and Evolving Liability, will be succeeding Kai-Uwe Schanz. In his new role, he will oversee the organisation’s ... Read the full article
ZestyAI partners with AFR to improve property risk assessment
4th December 2024
ZestyAI, a provider of climate and property risk analytics powered by AI, has partnered with American Farmers & Ranchers Mutual Insurance Company (AFR), an insurance provider in Oklahoma's rural sector for over a century. This collaboration utilises ZestyAI’s aerial imagery and risk modelling solutions to improve AFR’s property risk assessment and ... Read the full article
Lancashire Insurance U.S. appoints Flude as CEO, Jones to become CUO
4th December 2024
Bermuda-based Lancashire Holdings Limited has appointed James Flude as Chief Executive Officer (CEO) of Lancashire Insurance U.S., succeeding Huw Jones, who has been appointed to the new role of Chief Underwriting Officer (CUO) for Lancashire U.S. Flude, who will relocate to the U.S., currently serves as Group CUO: Insurance. He joined ... Read the full article
AM Best revises outlook for US personal lines insurance to stable
4th December 2024
Global credit ratings agency AM Best has revised its outlook for the US personal lines insurance segment to stable from negative, in line with a corresponding change in the personal auto outlook to stable from negative. According to the agency, the shift in the personal lines segment outlook is owed to ... Read the full article
Q3’24 sees record value in buy-in & buy-out transactions of £20bn: Hymans Robertson
4th December 2024
Hymans Robertson has reported that the total value of buy-in and buy-out deals completed in the third quarter of 2024 reached nearly £20 billion, marking the highest volume ever recorded for this period in any calendar year. This record quarter follows a strong first half of 2024, during which 134 ... Read the full article
Zurich Resilience Solutions and GoImpact partner to address climate risks in Asia Pacific
4th December 2024
Zurich Resilience Solutions (ZRS), the commercial risk advisory unit of Zurich Insurance Group, has partnered with GoImpact Capital Partners, a sustainability-focused organisation, to assist businesses in the Asia Pacific region in navigating the growing challenges of climate change. This collaboration combines ZRS’s advanced climate risk analysis, proprietary climate and financial loss ... Read the full article
Italian insurance sector set to surpass €100bn in life premiums by 2025, says Morningstar DBRS
4th December 2024
According to Morningstar DBRS, an independent provider of credit ratings and financial analysis, the Italian insurance sector is on track to sustain its strong performance into 2025. Key drivers include a significant recovery in life insurance premiums, steady growth in non-life segments, and higher investment returns. However, challenges such as elevated life ... Read the full article
Fortegra announces launch of new UK subsidiary
4th December 2024
The Prudential Regulation Authority (PRA) has granted Fortegra, a global specialty insurer and subsidiary of Tiptree, approval to establish Fortegra Insurance Company UK, its new subsidiary in the United Kingdom. Fortegra has established a strong reputation in the Managing General Agents (MGAs) and Managing General Underwriters (MGUs) market. This success is ... Read the full article
QBE hires Claire Lill as US Casualty Portfolio Manager
4th December 2024
Australian insurer QBE has announced the appointment of Claire Lill as Portfolio Manager to lead and strengthen the firm’s US Casualty offering. Lill brings to her new role over three decades of London Market Casualty experience and is joining QBE’s International Markets division from Apollo Syndicate 1969, where she held the ... Read the full article
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