Reinsurance News
AM Best revises TMHCC Mexico’s outlook to negative from stable
19th November 2024
AM Best, the global credit ratings agency, has revised the outlook to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of Tokio Marine HCC Mexico Compañía Afianzadora, S.A. de C.V. (TMHCC Mexico). Concurrently, AM Best ... Read the full article
Aon unveils new application to drive tech-driven cyber risk management
18th November 2024
Global professional services firm Aon has launched its Cyber Risk Analyzer, a digital application allowing risk managers to make technology-enabled decisions to mitigate cyber risk. According to the firm, the Cyber Risk Analyzer provides clients and brokers with unique capabilities such as loss forecasting, exposure assessment, and total cost of risk ... Read the full article
Allianz launches global program to combat polarisation in societal institutions
18th November 2024
Following an active electoral year worldwide, Allianz has announced the launch of “Power of Unity,” a global program aimed at restoring trust in societal institutions and fostering confidence in a better economic future. According to Allianz Research’s Social Resilience Index 2024, polarisation and social unrest have increased in many countries, carrying ... Read the full article
Aon adds Brian Gillin to its Cyber Reinsurance Solutions team
18th November 2024
Global insurance and reinsurance broker Aon has announced the appointment of Brian Gillin to its Cyber Reinsurance Solutions team as Managing Director - Cyber, Reinsurance, a New York based role. Gillin brings to his new role extensive experience in the cyber insurance industry. He has been part of Aon for over ... Read the full article
Insurers gain access to impact investment strategies through Nuveen & state regulator partnership
18th November 2024
Nuveen, the investment manager of TIAA, is collaborating with a coalition of state regulators in the US to develop strategies designed to pair capital from insurance companies and other sources for positive social and environmental impact. The state regulators participating in this initiative include California, Connecticut, Iowa, New York and Wisconsin. Nuveen, ... Read the full article
Generali GC&C hires Chubb’s Nicholas Selff as Head of Underwriting, Asia
18th November 2024
Generali Global Corporate & Commercial (GC&C), a subsidiary of the Italian insurance giant, has appointed Nicholas Selff as Head of Underwriting for Asia, effective immediately. He joins the organisation from Chubb where he most recently served as the Head of Property and Casualty (P&C) in Malaysia, having previously held senior regional leadership ... Read the full article
SI Re appoints Dr. Arnold Löw as its new CEO
18th November 2024
Zug, Switzerland-based reinsurer SIGNAL IDUNA Reinsurance Ltd. (SI Re) has appointed Dr. Arnold Löw as its new Chief Executive Officer, with Bertrand R. Wollner remaining in the role until his retirement on April 30, 2025, and Dr. Löw taking over on May 1, 2025. Löw holds over two decades of experience ... Read the full article
US P&C insurance sector sees 5.3% post-election surge amid policy uncertainty
18th November 2024
In a recent report by RBC Capital Markets, a financial services firm specialising in analysing the impact of political, economic, and regulatory developments across various sectors, titled Insurance Observations, the firm examines the potential implications of the recent US presidential election on the insurance industry. While the sector is not as ... Read the full article
WTW names Hart as Cyber Leader for PE&TS, CRB NA
18th November 2024
Global advisory, broking, and solutions company WTW has appointed Ashley Hart as Cyber Leader for Private Equity and Transactional Solutions (PE&TS), Corporate Risk and Broking, North America (CRB NA). As the Cyber Leader, Hart will be responsible for cutting-edge cyber risk transfer solutions to private equity clients and their portfolio companies ... Read the full article
Climate change to drive multi-year pricing cycle for Australian personal lines insurers: BofA Securities
18th November 2024
Analysts at BofA Securities are forecasting a multi-year pricing cycle for Australian personal lines insurers, which will be primarily driven by concerns surrounding the impacts of climate change and rising peril exposures. The firm highlighted how climate change inflation is already evident in Australian insurance results, with insured peril loss inflation ... Read the full article
Saudi reinsurers to get first refusal on 30% of overall cession of reinsurance agreements
18th November 2024
In a new circular, The Insurance Authority of Saudi Arabia has issued new rules on reinsurance cessions, requiring local insurers entering into reinsurance agreements to offer 30% of the overall cession to domestic reinsurers first. Effective January 1st, 2025, this initiative aims to strengthen the role of local reinsurance firms in ... Read the full article
AdvantageGo announces strategic alliance with CyberCube
18th November 2024
AdvantageGo, a commercial re/insurance software provider, has announced a strategic alliance with CyberCube, a provider of cyber risk analytics to the re/insurance industry, as it joins its Ecosystem to provide additional cyber-specific data and analytics that drive underwriting insight. This partnership integrates CyberCube's analytics into AdvantageGo's Underwriting Workbench, offering a holistic ... Read the full article
RSA launches UK Climate Professionals PI product
18th November 2024
RSA Insurance, a provider of commercial insurance, has launched a Climate Professionals Professional Indemnity (PI) insurance product. This is the first offering in the UK specifically designed for companies and consultants advising on sustainability, net zero goals, and climate-related strategies. PI insurance is essential for businesses and consultants providing expert advice or ... Read the full article
Munich Re’s Matt Foster joins Coalition as Head of London Markets
18th November 2024
Coalition, an active insurer focused on preventing digital risks, has appointed Matt Foster as its Head of London Markets. In the role, Foster will serve as the lead underwriter for the London Market and complex risks, reporting to Stephen Wares, Head of International Underwriting. Foster began his career as a Graduate Trainee ... Read the full article
Cyber insurance growth slows, yet new opportunities emerge: Swiss Re
18th November 2024
Although the rapid growth of the cyber insurance market may be slowing, it continues to present a compelling growth opportunity, but looking ahead, this will be fueled by different drivers and regional variations, with small and medium-sized enterprises (SMEs) having the largest potential to address the existing cyber protection gap, ... Read the full article
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