Reinsurance News
BMS establishes BMS Bacchus for comprehensive winery protection
11th November 2024
BMS Group (BMS), a re/insurance broker, has introduced BMS Bacchus, a specialised stock throughput insurance solution for wineries. Designed to protect wine throughout its lifecycle—from grape harvest through production, storage, and distribution—BMS Bacchus provides a centralised tool for wineries to make informed choices about risk management and resource allocation using advanced ... Read the full article
Professional Liability specialist underwriting manager Doe & Emuss launches
11th November 2024
Doe & Emuss (D&E), a boutique Professional Liability underwriting manager, has launched with approved coverholder status at Lloyd’s. Founded and led by industry veterans David Doe, Chief Executive, and Paul Emuss, Managing Director, D&E will place and manage Professional Liability portfolios, underwriting policies on Lloyd’s paper supported by eight to ten ... Read the full article
Flood preparedness to benefit re/insurers & policyholders: Swiss Re Institute
11th November 2024
While protective measures like dykes, dams, and floodgates can be expensive, their financial benefits can outweigh post-disaster rebuilding expenses by up to ten times, according to a new study from the Swiss Re Institute. The firm observed that economic losses caused by natural catastrophes reached an estimated $280 billion in 2023, ... Read the full article
CEA’s risk transfer and reinsurance program contracts to $8.5bn after non-renewals
11th November 2024
The size of the California Earthquake Authority's (CEA) reinsurance and risk transfer program has contracted by 7% to $8.5 billion after the entity opted against renewing $648.5 million of traditional reinsurance protection that expired at the end of July 2024. As reported by Artemis, our insurance-linked securities (ILS) focused sister publication, ... Read the full article
PIB acquires French medical malpractice insurer BEA Group
11th November 2024
PIB Group Ltd, a specialist insurance intermediary, has entered the French market with the strategic acquisition of medical malpractice insurance business BEA Group and its subsidiaries. This investment, representing PIB's 100th deal, marked a significant milestone in PIB Group's continuous European expansion strategy. It serves as a solid foundation for future growth ... Read the full article
Cytora partners with Kroll to enhance digital risk processing for insurers
11th November 2024
Cytora, a premier digital risk processing platform, has formed a strategic alliance with Kroll, a leading independent global risk and financial advisory firm. This collaboration will allow commercial insurance underwriters to obtain real-time replacement cost values for assets around the world. As a result, underwriters will have a clearer understanding of ... Read the full article
Underinsured Gen Z seeks more coverage: GA
11th November 2024
A recent survey by the Geneva Association reveals that appetite for more insurance is highest among Gen Z respondents (32%), particularly for private health and property insurance. The survey, conducted globally by the Geneva Association, polled 28,000 households across France, Germany, Italy, Japan, Spain, the U.K., and the U.S. It focused ... Read the full article
Hannover Re lifts 2024 profit target as 9M net income reaches €1.8bn and losses fall within budget
11th November 2024
Large European reinsurer Hannover Re has raised its profit target for 2024 on the back of a 30.4% rise in net income to €1.8 billion for the first nine months of the year, as the reinsurance service result increased by more than 36% to €2.1 billion. Across the group, gross reinsurance ... Read the full article
Southlake Specialty enters into partnership with Risk Exchange, Accelerant
11th November 2024
Southlake Specialty Insurance Company, part of the Texas-based Southlake Financial Group, which specialises in program-focused property and casualty (P&C) insurance, has entered into a partnership with Accelerant, the data-driven Risk Exchange. Readers will recall that Accelerant launched its Risk Exchange platform in 2023, to help further support specialty underwriters and ... Read the full article
Courtney Leimkuhler joins AIG Board of Directors
11th November 2024
American International Group, Inc. (AIG) has elected Courtney Leimkuhler, co-founder and Managing Partner of Springbank, to its Board of Directors as an independent Director. An accomplished executive, Leimkuhler began her career in investment banking at Goldman Sachs. She then joined NYSE Euronext, where she spent nearly a decade leading Corporate Strategy ... Read the full article
Helvetia partners with coinnect to launch Cyber Insurtech platform for enhanced risk management
11th November 2024
Helvetia, a Swiss insurance provider, has partnered with Coinnect, a cyber risk management platform, to implement advanced Cyber Insurtech solutions that enhance cyber risk assessment and support clients in mitigating cybersecurity threats. Through Coinnect's AI-powered platform, Helvetia can provide in-depth risk evaluation and continuous threat monitoring, offering greater protection and favourable ... Read the full article
CRC Group welcomes four new professionals
11th November 2024
CRC Group, a wholesale specialty insurance distributor in North America, has announced the hire of four new professionals to its team: Brian Mennes, Andrew Nash, Juliette Kelley and Matthew Walsh. Mennes has joined CRC Group’s Spring, TX office as an underwriter. Prior to joining CRC Group, he served as a broker ... Read the full article
The industry needs to evolve to stay ahead of social inflation, RenRe CUO, Marra
8th November 2024
While social inflation is certainly not a new subject within the re/insurance sector, the industry needs to continue to evolve to stay ahead, according to David Marra, Group Chief Underwriting Officer (CUO) of RenaissanceRe (RenRe). Marra discussed inflation during RenRe's earnings call for its financial results for the third quarter of ... Read the full article
Munich Re’s Dalton elected Chair of American Institute of Marine Underwriters
8th November 2024
Sean M. Dalton, Executive Vice President of Munich Reinsurance America Inc., a subsidiary of reinsurance giant Munich Re, has been elected chair of the American Institute of Marine Underwriters (AIMU). Dalton, who is Head of Marine Underwriting, North America and Head of Global Marine Facultative, succeeds Anthony Cowie, Head of Marine Reinsurance ... Read the full article
AXA XL launches cyber endorsement for contractors in the US
8th November 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has created a new tailored cyber insurance endorsement for construction companies in the United States, designed to enhance their protection against cyber threats. Michelle Chia, Chief Underwriting Officer, Cyber in the Americas, stated: "Every industry has ... Read the full article
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