Reinsurance News
AIG appoints Torben Schwierzke as Head of Casualty for DACH region
27th November 2024
American International Group (AIG), a global insurance company, has appointed Torben Schwierzke as the new Head of Casualty for the DACH region, overseeing the company's Casualty business in Germany, Austria, and Switzerland. Schwierzke is a highly experienced leader with a proven track record of successfully managing teams across all DACH geographies. His ... Read the full article
Understanding, calculating & underwriting systemic risk is cyber’s biggest challenge today: Coalition
27th November 2024
As cyber continues to remain one of the biggest lines of business across the re/insurance industry, there are a number of challenges that the cyber market is currently facing, in light of the recent number of data breaches and major cyber events that the industry has seen throughout the past ... Read the full article
Fitch revises Fortitude Re’s outlook to positive amid continued growth
27th November 2024
Fitch Ratings has revised Fortitude Re's outlook to Positive from Stable, citing the firm's improving profile driven by growth and enhanced diversification across liabilities and geographies, alongside its strong balance sheet. The rating agency has also affirmed Fortitude Reinsurance Company (FRL) and Fortitude Life Insurance and Annuity Company's (FLIAC) Insurer Financial ... Read the full article
AJ Gallagher acquires retail insurance broker Shepard
27th November 2024
Arthur J. Gallagher & Co., a global insurance brokerage, risk management, and consulting services firm, has announced its acquisition of Shepard Insurance Group, based in Old Greenwich, Connecticut. Shepard Insurance is a retail insurance brokerage that caters to high-net-worth clients in the Northeast United States and Florida. Steve Shepard, Kyle Shepard, and ... Read the full article
Apollo’s Smart Follow and Artificial renew partnership
27th November 2024
Smart Follow, a technology-enabled underwriting class within insurance group Apollo, has renewed its partnership with Artificial, a provider of digital follow underwriting technology. This partnership will enable Smart Follow to deploy its capacity in innovative ways, which in turn will enhance the experience for brokers and their clients. Smart Follow and Artificial ... Read the full article
Reinsurers to remain a ‘pillar’ in development of effective cyber market: S&P
27th November 2024
As per a new report from S&P Global, the reinsurance market is set to remain extremely important in providing capital and capacity to support further revenue growth in the cyber insurance market. "In our view, reinsurers will remain an important pillar in the development of a sustainable and effective cyber insurance ... Read the full article
B.P. Marsh and Partners invests additional $12.6m in XPT
27th November 2024
B.P. Marsh and Partners, a specialist private equity investor in early stage financial services businesses, has further invested $12.6 million in XPT, a US based wholesale insurance broking and underwriting agency platform across the US Specialty Insurance Sector. According to the announcement, this transaction was structured via both a purchase of ... Read the full article
Aviva completes £1.7bn buy-in with National Grid pension scheme
27th November 2024
Aviva has completed a £1.7 billion pensioner buy-in with the National Grid Electricity Group (the Group) of the Electricity Supply Pension Scheme (the Scheme). Aviva stated that the transaction, completed in October 2024, involved transferring the Group's existing longevity swap with Zurich Assurance Ltd and provides insurance for the benefits of ... Read the full article
QBE reports 2% GWP growth on renewal premium rate increases of almost 6%
27th November 2024
Australian insurer QBE, in its latest performance update, has revealed that gross written premium (GWP) growth in the nine months to September 30th was 2% on the prior period, on both a reported and constant currency basis. The insurer explains that this continued growth was driven by group-wide renewal premium rate ... Read the full article
Arch Insurance Intl. promotes Ouwehand to lead its Terrorism, Political Violence and War team
27th November 2024
Arch Insurance International, a division of Bermuda-based re/insurer Arch Capital Group, has promoted Jelle Ouwehand to Head of Terrorism, Political Violence and War, based in London with a reporting line to Lino Leoni, Chief Underwriting Officer, Short Tail Lines. In his new role, Ouwehand's remit includes leading the team’s underwriting activities ... Read the full article
AM Best upgrades credit ratings of Zurich and its core subsidiaries
27th November 2024
AM Best has upgraded the Issuer Credit Ratings of Zurich Insurance Group and its core subsidiaries, highlighting the firm's robust balance sheet, strong operating performance, and very favourable business profile as key factors driving the decision. Namely, AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa” (Superior) ... Read the full article
ACORD launches ADEPT Placing for unified data exchange in global insurance market
27th November 2024
ACORD Solutions Group, a provider of advanced digital solutions for the global insurance sector, has introduced a placing data exchange capability within its ADEPT platform. This one-to-many interface serves as a universal hub, enabling insurers and brokers around the world to exchange placing data seamlessly. It integrates with major placing platforms ... Read the full article
SRG names Matt Byrne as Executive Director, Entertainment and Sport
27th November 2024
Insurance industry intermediary, Specialist Risk Group (SRG), has announced the promotion of Matt Byrne to Executive Director of their Entertainment and Sport pillar. Prior to his new role, Byrne was Head of Broking - Entertainment Media & Sport, a role he held since 2023 when he joined SRG. He was instrumental in ... Read the full article
Aon to acquire Mitsubishi Chemical Group’s insurance agency in Japan
27th November 2024
Aon, a global professional services firm, has announced the signing of a definitive agreement to acquire the in-house insurance agency business of Mitsubishi Chemical Group (MCG), further strengthening the re/insurance broker's risk and health offerings in Japan. The insurance agency, currently operating as part of Dia Rix, MCG’s internal business services ... Read the full article
PartnerRe appoints Chris Shanahan as CEO of Life & Health
26th November 2024
Bermuda-based reinsurance company PartnerRe has promoted Chris Shanahan to Chief Executive Officer (CEO) of its Life & Health operations, succeeding Marc Archambault, effective January 1st, 2025. Since September 2021, Shanahan has served as PartnerRe's CEO of North America Life, having joined the firm in 2018 as Executive Vice President, Life Corporate ... Read the full article
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