Reinsurance News
China Re Board announces retirement of Non-Exec Director Wang Xiaoya
3rd December 2024
The board of directors of China Reinsurance (Group) Corporation, the country's largest reinsurance firm, has announced the retirement of Wang Xiaoya. Xiaoya has stepped down as Non-Executive Director, Vice Chairlady, and member of the Board's Risk Management Committee, Strategy and Sustainable Development Committee, and Audit Committee. She served as a Non-Executive Director ... Read the full article
MS Amlin joins the Berne Union
3rd December 2024
Mitsui Sumitomo Insurance Group subsidiary MS Amlin, has joined the Berne Union as Observer Member alongside ABGF of Brazil, becoming the association’s two most recent additions. MS Amlin will join the MLT Committee, while ABGF will participate in the ECA (Export Credit Agency) and MLT(Medium and Long Term) Committees. Berne Union Secretary ... Read the full article
Outlook remains stable for US commercial lines, says AM Best
2nd December 2024
AM Best, the global credit ratings agency, is maintaining its stable market segment outlook on the US commercial lines insurance sector for 2025, supported by the segment's strong underwriting performance and improved investment returns, both of which have bolstered operating profitability. According to the agency, the stable outlook reflects AM Best's ... Read the full article
CyberCube partners with Penguin Tech to enhance cyber risk solutions
2nd December 2024
CyberCube, a provider of cyber risk analytics, has partnered with Penguin Tech, an integration and consulting provider, to deliver enhanced solutions that help insurers better understand, manage, and mitigate cyber threats. Through this collaboration, CyberCube’s advanced analytics will integrate seamlessly with the solutions Penguin Tech delivers to Duck Creek Technologies clients. ... Read the full article
Storm Bert triggers rapid parametric payout from FloodFlash
2nd December 2024
With Storm Bert affecting counties across England and Wales, parametric flood insurance provider FloodFlash has revealed that it made a payout to a client in just over 10 hours after a trigger was activated. According to Ian Bartholomew, Chief Underwriting Officer at FloodFlash, the firm's sensors first measured flooding on Sunday ... Read the full article
Andre du Preez joins McGill and Partners as Head of Emerging Technology
2nd December 2024
McGill and Partners, the independent global specialty insurance and reinsurance broker, has appointed Based in London, du Read the full article
Holborn names Frederic Gindraux SVP, Claims Advisory
2nd December 2024
US-based independent reinsurance broker, the Holborn Corporation has announced the appointment of Frederic Gindraux as Senior Vice President, Claims Advisory. Based in New York, Gindraux will collaborate with Holborn’s clients, client-facing teams, and account servicing department to offer cutting-edge technical and analytical guidance on claims-related matters. Additionally, Gindraux will participate in routine ... Read the full article
Potential acquisition of Direct Line by Aviva a credit positive for both groups: Moody’s
2nd December 2024
Analysts at Moody's Ratings have suggested that the potential acquisition of Direct Line by Aviva could bring credit positive benefits to both firms. Late last month, Direct Line rejected Aviva’s £3.28 billion 100% acquisition proposal, stating that it does not adequately reflect the company's standalone value, describing the offer as ... Read the full article
Florida Citizens budgeting for more traditional & capital markets reinsurance for 2025
2nd December 2024
Florida’s property insurer of last resort, Citizens Property Insurance Corporation, has projected that it will need to purchase $4.453 billion of reinsurance from the traditional and capital markets for 2025, although the overall size of the firm's financing tower is expected to come down year-on-year with lower exposure, but also ... Read the full article
Allianz purchases general insurance business of RAA
2nd December 2024
Allianz has acquired the general insurance business of the Royal Automobile Association of South Australia Incorporated (RAA), expanding its consumer insurance presence in South Australia. The insurer’s partnership with the RAA, worth AUD$6422 million, also includes a 20-year exclusive distribution agreement for the Home and Motor insurance product lines of RAA. Within ... Read the full article
PIB Group acquires Netherlands-based broker and MGA platform Thoma
2nd December 2024
PIB Group, the specialist insurance intermediary, has acquired a Netherlands domiciled commercial lines insurance broker and managing general agent (MGA) platform, Thoma Exploitatie BV and its subsidiaries. The acquisition, which remains subject to regulatory approval in the Netherlands, bolsters PIB’s presence in the Benelux region, adding to the existing portfolio of ... Read the full article
Aon Client Treaty expands line size to record 28.5% for 2025
2nd December 2024
Aon, the global insurance and reinsurance broker, has announced the successful renewal and expansion of the Aon Client Treaty (ACT), the firm's flagship London Market placement facility that helps clients respond to complexity with new sources of capital. According to the announcement, in 2025, ACT will offer 28.5% co-insurance across core lines ... Read the full article
ASR Syndicate 2454 to begin operating through its service company in Dubai
2nd December 2024
Africa Specialty Risks (ASR), an African and Middle Eastern re/insurance group, has confirmed that ASR Middle East has commenced operating as a Lloyd's service company, which allows it to underwrite in Dubai on behalf of ASR Syndicate 2454, the first African focused syndicate at Lloyd's. ASR Middle East particularly focuses on ... Read the full article
Rakesh Thakrar appointed interim Group CFO at Athora
2nd December 2024
European savings and retirement services group Athora, has appointed Rakesh Thakrar as interim Group Chief Financial Officer (CFO), effective immediately, succeeding Anders Malmström who will leave the organisation in early 2025 to assume an executive role at reinsurance giant Swiss Re. At the same time, Rakesh also joins the Athora ... Read the full article
Rokstone acquires second box at Lloyd’s as expansion continues
2nd December 2024
International Speciality re/insurance MGA Rokstone, which is part of the Aventum Group, has acquired a second box at Lloyd’s, just six months after the announcement of its first. Rokstone has secured box 398a, alongside its existing box 398, on Gallery 3, underlining its dedication to the London market as a ... Read the full article
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