Reinsurance News
ICEYE estimates 2.6k buildings impacted by Spain flooding
4th November 2024
Using its synthetic aperture radar (SAR) satellite constellation to track the recent severe flooding in southeastern Spain, ICEYE estimates that over 2,600 buildings have been affected. For those unaware, flash floods in Spain have killed over 200 people, triggered by a destructive weather system where cold and warm air meet to ... Read the full article
Insurance broker INTERprotección opens office in São Paulo, Brazil
4th November 2024
INTERprotección, the largest insurance broker in Latin America, has opened its new office in São Paulo, Brazil, reinforcing the company's commitment to offer a close and personalised service across the Brazilian market, as well as continuing its growth alongside its clients. The company's new headquarters are located in the Faria Lima ... Read the full article
Antares restructures business unit alongside UK insurer launch
4th November 2024
Antares Global, the multinational group of insurance and related service companies, has announced the restructure of its underwriting operations, aligning all its business units within two streams of operation, Retail and Commercial. The changes, driven by two years of reorganisation and investment, have delivered impressive financial results, Antares highlights. With separate underwriting ... Read the full article
US election outcome has potential direct & indirect implications for European, US insurers: Deutsche Bank
4th November 2024
Analysts at Deutsche Bank expect fairly limited direct impacts to European insurers from tomorrow's US election but sees some potential implications for carriers in the US, including a possible post-election M&A rebound. The polls suggest it's going to be a tight race between Vice President Harris and former President Trump, with ... Read the full article
CNA Financial P&C CoR impacted by cat losses in Q3’24
4th November 2024
Chicago-domiciled insurer, CNA Financial Corporation has reported a net income of $283 million for the third quarter of 2024 compared to the $258 million seen in the comparative prior year quarter. The insurer also reported its P&C segment saw its core income increase to $346 million in the quarter, compared to ... Read the full article
Aspen names Paul Bradbrook as UK CFO
4th November 2024
Aspen Insurance Group, a specialty insurer and reinsurer, has announced the appointment of Paul Bradbrook as UK Chief Financial Officer. Bradbrook brings nearly three decades of industry experience to his new role, particularly in senior finance positions. He joins Aspen from R&Q Insurance Holdings, where he served as Chief Accounting Officer. Prior ... Read the full article
Ebix Europe unveils new data-first features for PlacingHub
4th November 2024
Ebix Europe, a London-based technology specialist, has introduced a new suite of data-first features for its digital placing platform, PlacingHub, to support market modernisation. Launched earlier this year, PlacingHub is Ebix Europe’s electronic placing platform, allowing brokers and insurers to quote, negotiate, bind, and endorse business digitally. The new DataFirst suite ... Read the full article
HDI Global appoints Melanie Windirsch Head of International Programmes
4th November 2024
Melanie Windirsch has been appointed the new Head of International Programmes (IP) at HDI Global SE. She succeeds Dr Dirk Höring, who held the position before being promoted to the HDI Global SE Executive Board in April. Dr Kuhnt, COO and CIO of HDI Global commented, "I am delighted to welcome Melanie ... Read the full article
Steadfast to expand London office due to increasing demand for placing business into Lloyd’s
4th November 2024
Steadfast Group, the parent company to a range of broking and underwriting operations, including reinsurance broker Steadfast Re, has announced plans to expand its London office as the company is seeing increasing demand for placing business into the specialist Lloyd's market. At the same time, the organisation has also got off ... Read the full article
French terror risk pool GAREAT diversifies sources of reinsurance with first catastrophe bond
4th November 2024
GAREAT, the French terrorism risk insurance pool, is sponsoring its first catastrophe bond, Athéna I Reinsurance DAC, to diversify its sources of reinsurance risk capital, as reported by our insurance-linked securities (ILS) focused sister publication, Artemis. Established in 2002 as a public-private partnership market structure, GAREAT, or Gestion de l’Assurance ... Read the full article
Lloyd’s appoints Nathan Adams as Chief People Officer
4th November 2024
Lloyd’s, the global insurance and reinsurance marketplace, has announced the appointment of Nathan Adams as its Chief People Officer, effective early 2025. In his new role, Adams will report to John Neal, Chief Executive Officer of Lloyd’s, and will join the Lloyd’s Executive Committee. He succeeds Sara Gomez, who will retire from ... Read the full article
Marsh and We2Sure partner to tackle carbon credit fraud
4th November 2024
Insurance broker Marsh and We2Sure, a specialist in insurance and risk management solutions for carbon credit certificates, have launched a new insurance facility to help businesses tackle rising risks associated with carbon credit certificate fraud. The carbon credit industry, while offering businesses a way to offset their carbon dioxide emissions, is ... Read the full article
Potential end of low protest activity in Latin America, says Chaucer
4th November 2024
According to Chaucer, a specialty re/insurance group, the current period of significantly low political protests and demonstrations in Latin America may be coming to an end. Data indicates that the number of protests in the region decreased by 26.3% over the past year, dropping from 28,000 to 20,690 between April 30, ... Read the full article
Clapham joins Aon Underwriting Managers as CUO
4th November 2024
Global professional services firm Aon has revealed that Simon Clapham has joined the firm as chief underwriting officer for Aon Underwriting Managers (AUM). Clapham reportedly holds extensive experience in the insurance industry, having previously worked in underwriting and broking companies in the UK and US. This includes around 12 years at Liberty ... Read the full article
PERILS estimates €1.89bn industry loss for September Central Europe floods
4th November 2024
Zurich-based catastrophe insurance data provider PERILS AG has released its initial industry loss estimate for the floods in Central Europe and Italy during the period of 14 to 20 September 2024, pegging the total at €1.886 billion. As a reminder, the low-pressure system Boris (also known as Anett) caused prolonged heavy ... Read the full article
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