Reinsurance News
CRC expands team with Moody’s Schmitt, Berkley’s McPhillips, Velocity’s Cadden & Amwins’ Rios
30th December 2024
CRC Group, a wholesale specialty insurance distributor in North America, is expanding its team with the addition of four new professionals to its team, Michael Schmitt, Sean McPhillips, Bailey Cadden and Blake Rios. Schmitt, who is joining CRC from Moody’s, has been appointed Broker and will be based at the company’s ... Read the full article
AM Best maintains stable outlook for Malaysia’s non-life insurance market
30th December 2024
AM Best, a globally recognised credit rating agency specialising in the insurance sector, has maintained a Stable outlook for Malaysia’s non-life insurance market. This assessment is based on key factors such as anticipated premium growth driven by economic recovery, regulatory reforms aimed at increasing insurance penetration, and rate adjustments. However, the segment ... Read the full article
Amwins 2025 Outlook: Cyber insurance pricing set to decline by 5% as competition intensifies
27th December 2024
Amwins, a distributor of specialty insurance solutions, has published its 2025 Outlook: State of the Market Report, providing valuable insights into the shifting dynamics of the cyber insurance landscape. The cyber insurance market is facing increasing competition and shifting risk profiles, as highlighted in Amwins’ report. Pricing trends show a notable change, ... Read the full article
PICC P&C announces continuation of reinsurance agreement with PICC Re
27th December 2024
China’s PICC Property and Casualty Company (PICC P&C) has entered into a new Reinsurance Framework Agreement with PICC Reinsurance, under which the two parties will cede insurance premiums to each other in exchange for commissions. This agreement, effective from January 1, 2025, to December 31, 2025, aims to continue their existing ... Read the full article
Redline launches new General Aviation insurance in collaboration with Allianz
27th December 2024
Redline Underwriting, a Lloyd’s coverholder specialty underwriting firm, has announced the launch of its General Aviation Insurance solution, developed in collaboration with Allianz Commercial from their UK region. This new offering, designed specifically for the Latin American and Caribbean markets, will provide comprehensive coverage for private, pleasure, and business fixed and ... Read the full article
Improved exposure data key for cat reinsurance renewals: Poll
27th December 2024
In a recent Reinsurance News poll, industry experts and observers identified "getting more exposure data" as the most important factor for upcoming property catastrophe reinsurance renewals, with 44% of respondents selecting this option. Stable retentions/T&C came second, with 28% of the respondents selecting this option. 24% selected sustaining price, while only ... Read the full article
AM Best upgrades L&G Re’s financial strength ratings
27th December 2024
Ratings agency AM Best has upgraded Legal & General Reinsurance Company No. 2 Limited’s (Bermuda) Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa-” (Superior) from “a” (Excellent). Concurrently, the firm has also affirmed the Long-Term ICR of “a” (Excellent) ... Read the full article
Saudi Re opens subscription for capital increase
27th December 2024
Saudi Reinsurance Company (Saudi Re) has commenced its subscription period for a capital increase, running from December 26th to 30th. The offering comprises 26,730,000 new ordinary shares, which represent 30% of the company’s current capital, with a nominal value of SAR 10 per share (around USD 2.6). This move follows the ... Read the full article
Doha Insurance receives approval to open reinsurance arm in India
27th December 2024
Doha Insurance Group (DIG), a provider of insurance and reinsurance solutions in the Middle East and North Africa region, has revealed plans to open a reinsurance branch in the Republic of India. The insurer has obtained the approval of the Qatar Central Bank to open a branch in Gujarat International Financial ... Read the full article
Florida Re names Jeremy Baczkiewicz as CUO
27th December 2024
Florida Insurance and Reinsurance Company (Florida Re), a property and casualty re/insurer serving commercial clients across Florida, has appointed Jeremy Baczkiewicz as its new Chief Underwriting Officer (CUO). Baczkiewicz brings over 21 years of experience in underwriting management and strategic operations within the insurance and reinsurance sectors to Florida Re. In his ... Read the full article
Amynta Group acquires Crum & Forster’s credit insurance business
27th December 2024
Insurance services provider, Amynta Group has acquired the Credit Division of Crum & Forster (C&F), a subsidiary of Fairfax Financial Holdings Limited. According to the announcement, the business will operate as a full-service Managing General Underwriter (MGU) under Amynta Risk Solutions. From what we understand, Amynta's acquisition of the C&F Credit Division, which ... Read the full article
AM Best remains stable on Japan’s life insurance sector amidst premium boom
27th December 2024
Global credit ratings agency AM Best has maintained its stable outlook on Japan's life insurance market segment, citing in part the growth in premium income and stable core profits that are supported by higher levels of investment income. According to the agency, premium income has increased considerably throughout the past two years, ... Read the full article
Waymo shows 90% fewer claims than advanced human-driven vehicles: Swiss Re
24th December 2024
According to a recent Swiss Re study, the Waymo Driver is safer than both the general driving population and the latest human-driven vehicles equipped with advanced driver assistance systems (ADAS). The study compared Waymo’s liability claims to benchmarks for human drivers, using Swiss Re’s data from over 500,000 claims and 200 ... Read the full article
Industry veteran Brian Simpson appointed Equisoft’s VP, Insurance Solutions
24th December 2024
Equisoft, a global provider of digital business solutions for the insurance and wealth industries, has appointed Brian Simpson as Vice President, Insurance Solutions, USA. With over three decades of experience in the life, health, and annuity sectors, Simpson is joining the sales team for Equisoft's insurance solutions in the US. Commenting on ... Read the full article
Insurers still benefit from higher yields, but impact is fading: RBC Capital Markets
24th December 2024
The insurance industry is still reaping the rewards of higher investment yields, although the effect is gradually diminishing, analysts at RBC Capital Markets have highlighted in a recent report. Property and casualty (P&C) insurers typically invest in short-term, high-quality investment portfolios like corporate bonds, Treasuries and other highly-rated fixed income instruments. As ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
