Reinsurance News
Lockton hires Ritu Sakuja as SVP, Product Management
27th January 2025
Insurance brokerage firm Lockton has announced the appointment of Ritu Sakuja as Senior Vice President, Product Management. Sakuja, who has over two decades of experience in product strategy and management, will be responsible for accelerating the delivery of innovative digital products for Lockton's People Solutions business. Lockton will benefit from the executive’s ... Read the full article
Vikco Builder’s Risk introduces MGA programme for construction industry insurance
27th January 2025
Vikco Builder’s Risk, a division of Vikco Insurance Services and supported by K2 Insurance Services, has officially introduced its Managing General Agent (MGA) programme focused on providing excess and surplus lines Builder’s Risk Insurance. This programme combines extensive underwriting expertise and strategic partnerships to offer customised insurance solutions tailored to the ... Read the full article
Travelers increased casualty reinsurance coverage at lower attachment point at Jan 1: CFO Frey
24th January 2025
U.S. insurer Travelers enhanced its casualty reinsurance program at the January 1st, 2025, renewals, purchasing more protection at a lower attachment point on the back of strong interest from the market, confirmed Dan Frey, the firm's Chief Financial Officer (CFO). Travelers released a very strong set of results for the ... Read the full article
Brokerslink welcomes Rhallam and Verlinden to Advisory Board
24th January 2025
Global broking business, Brokerslink, has announced the appointment of Youness Rhallam as President and Patrick Verlinden as Vice-President to its Advisory Board. Rhallam is the CEO of Moroccan brokerage firm Alpha Assurances, and Verlinden is CEO of Belgian broker Van Dessel Insurance Brokers. The Advisory Board unanimously confirmed the nominations, marking a ... Read the full article
Prudential Financial and Dai-ichi Life partner on product distribution and asset management
24th January 2025
US insurance and investment firm, Prudential Financial Inc., and Japanese insurer Dai-ichi Life Holdings have entered into a strategic partnership focused on product distribution and asset management capabilities. The partnership includes a product distribution agreement in Japan, where Prudential would select Dai-ichi’s wholly owned subsidiary, The Neo First Life Insurance Company, ... Read the full article
LA wildfires likely to heavily impact insurance rates: S&P
24th January 2025
According to a recent report from S&P Global Ratings, the ongoing Los Angeles wildfires could significantly impact homeowners, with insurance rates in the region likely to be heavily impacted. S&P predicts that, following the event, property insurers will likely increase rates and/or limit coverage options. These measures may extend beyond California ... Read the full article
Solvency, reserving and risk management are key focuses for Bermudian life insurers in 2025: BILTIR CEO
24th January 2025
Suzanne Williams-Charles, Chief Executive Officer (CEO) of Bermuda International Long Term Insurers and Reinsurers (BILTIR), has stated that key expectations for 2025 across Bermuda is for long term insurers, specifically, to continue to maintain strong solvency, have strong reserving, as well as having a key focus on risk management on ... Read the full article
Ardonagh acquires stake in Dutch firms PIA & PIN
24th January 2025
Global insurance intermediary The Ardonagh Group's Netherlands arm has reached an agreement to acquire a substantial stake in two key players in the Dutch high-net-worth insurance sector: Private Insurance Assuradeuren B.V. (PIA) and Private Insurance Nederland B.V. (PIN). PIA, a Managing General Agent (MGA), specialises in the creation and distribution of ... Read the full article
Gallagher Re promotes Bryan Friendshuh to Branch Manager Tampa
24th January 2025
Reinsurance broker Gallagher Re has announced the promotion of Bryan Friendshuh as its new Tampa Branch Manager. In a recent update, Gallagher Re stated, “Bryan has been an integral part of our growth in Tampa, bringing an impressive 28 years of experience across all P&C lines of business. "Over the past 16 ... Read the full article
Generali & MIT collaborate to research AI-based applications
24th January 2025
Italian insurer Generali has launched a research collaboration with the Massachusetts Institute of Technology (MIT) to explore practical applications of Artificial Intelligence (AI) and how it can provide competitive advantages to the insurance industry. From January 2025, Generali and its various business units will work with three MIT research teams to ... Read the full article
California wildfires poised to drive up property insurance costs, Moody’s reports
24th January 2025
Moody’s, a financial services company known for its credit ratings, research, and data solutions, has released an analysis highlighting the far-reaching financial impact of recent wildfires in California. According to Moody’s, the wildfires in Los Angeles County are projected to be the costliest in the state's history, with insured property losses ... Read the full article
Howden Re welcomes Aon’s Hatch as Director, International Facultative
24th January 2025
Kelly Hatch, a property re/insurance broker with extensive expertise in Asia Pacific property placements, has joined Howden Re as Director, International Facultative. Hatch’s new role will focus on providing innovative reinsurance solutions that deliver exceptional client value, primarily in the APAC region. He will also contribute to the growth of Howden ... Read the full article
Assurant expects ~$50m in nat cat losses for Q4’24 largely driven by Hurricane Milton
24th January 2025
US specialty insurance group Assurant expects to record approximately $50 million pre-tax, or $40 million after-tax in losses from natural catastrophes for the fourth quarter of 2024. This estimate is more favourable than the preliminary figures shared during its third-quarter 2024 earnings call in November. The reported losses primarily stem from lender-placed ... Read the full article
Ki to operate as standalone company within Fairfax Group
24th January 2025
Algorithmic Lloyd’s digital follow platform Ki has completed its separation from its parent company to become a standalone within the Fairfax Group. As a standalone company, Ki will reportedly continue to focus on becoming the market-leading digital and data-led specialty insurance business. According to Ki, the change to corporate structure and operations ... Read the full article
Emmanuel Clarke appointed as IFC’s CEO of GSL as Michael Miller retires
24th January 2025
Intact Financial Corporation (IFC), a Canadian property and casualty insurer, has announced the appointment of Emmanuel Clarke as CEO of Global Specialty Lines (GSL). Clarke will be taking over the role from T. Michael Miller, who has recently announced his retirement, following a 44-year career in the property and casualty (P&C) ... Read the full article
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