Reinsurance News
Milton’s effect on global re/insurance ratings expected to be limited: Fitch
11th October 2024
According to Fitch Ratings, Hurricane Milton is not likely to affect credit for its rated P&C insurers and global reinsurers given very strong capital levels, though Florida property insurance specialists are vulnerable to the extent the hurricane generates losses above reinsurance limits. Milton made landfall on the 9th of October in ... Read the full article
Khilosia joins Africa Specialty Risks as Chief Distribution Officer
11th October 2024
Africa Specialty Risks (ASR), a pan-African and Middle East focused re/insurance group, has announced the appointment of Amit Khilosia as Chief Distribution Officer, an UK-based role. In his new role, Khilosia will lead ASR’s distribution efforts ensuring the company continues to expand its footprint across Africa and the Middle East, delivering ... Read the full article
Milton likely an earnings event as losses appear more modest than feared: Jefferies
11th October 2024
With Hurricane Milton's insured losses likely to be more modest than initially feared, the equity analyst team at Jefferies has suggested that it will probably be a large earnings event and is not expected to drive up property reinsurance rates in 2025. "With the path and strength of the storm less ... Read the full article
HDI partners with Flight Safety Foundation to strengthen pro-active risk management
11th October 2024
To enhance the operational safety of its aviation clients, global insurance provider HDI has established a collaborative partnership with the Flight Safety Foundation's Basic Aviation Risk Standard (BARS) Program. As a BARS Member Organization (BMO) HDI will have access to comprehensive de-identified audit and accident analysis data which will facilitate its ... Read the full article
As industry losses from Milton rise, more will flow to reinsurers: Moody’s
11th October 2024
A new report from Moody's has suggested that insured losses from Hurricane Milton will affect both primary insurers and the reinsurance sector, with the proportion of losses ceded to reinsurers increasing as losses increase. Milton made landfall on the 9th of October in Florida’s Sarasota County as a Category 3 hurricane, ... Read the full article
Cybersecurity and regulation identified as top risks for the TMT sector: WTW
11th October 2024
Cyber and data privacy have emerged as the top risks in the technology, media, and telecom (TMT) sectors, which are increasingly relying on innovations like artificial intelligence (AI) to drive growth, according to a recent report by WTW. The report highlights growing concerns about the impact of regulations and trade tensions ... Read the full article
Tim Nagle promotes as the Head of Miller Europe
11th October 2024
Independent specialist insurance and reinsurance broker Miller has promoted Tim Nagle as Head of Miller Europe. Nagle joined the broker in 2020, his additional responsibilities will include building on his relationships with Miller’s European partners and experience working across the broker's five European locations. He takes on this new role in addition ... Read the full article
Resilience in Florida’s property insurance market amid hurricane challenges
11th October 2024
After Hurricanes Helene and Milton made landfall along Florida’s coast, Insurance Commissioner Michael Yaworsky shared encouraging updates regarding the state’s property insurance market. Recent announcements from Progressive, State Farm, and the approval of several new property insurers highlight the positive impact of Florida’s major 2023 reforms. Despite scaling back operations in other ... Read the full article
CRC Group continues expansion plans with three new hires
11th October 2024
CRC Group, a wholesale specialty insurance distributor in North America, has announced the appointments of three new professionals to its team. Sam Sigmon has been appointed as an underwriter in CRC Group’s Dallas, TX (Walnut Hill) office. He joins from Velocity Risk, where he served as an underwriter for over three ... Read the full article
Distinguished and Berkley Program Specialists expand partnership
11th October 2024
Distinguished Programs, a national insurance program manager, announced an expanded partnership with Berkley Program Specialists, to underwrite its Community Associations Crime and D&O products. Starting January 1, 2025, Distinguished will initiate the consolidation of their Crime, Directors and Officers, and Package coverage under a singular carrier. Barbara Bartson, President of Distinguished’s Community ... Read the full article
AXIS Capital introduces new leadership for its Irish legal entities
10th October 2024
AXIS Capital Holdings Limited, a provider of specialty insurance and reinsurance solutions, has announced new leadership appointments for its Irish legal entities, AXIS Re SE and AXIS Specialty Europe SE, both based in Ireland and regulated by the Central Bank of Ireland. Offering a wide range of products to help businesses ... Read the full article
Howden Re enhances international broking and advisory capabilities with two new hires
10th October 2024
Howden Re, the reinsurance arm of Howden, has announced the hire of Grange Turner and Tom Finch who will be joining its Motor Reinsurance and Prospective Capital Solutions, respectively. Sebastian Cook, Deputy CEO, Howden Re International, commented: “Tom and Grange joining Howden Re is further evidence of our continued commitment to ... Read the full article
Aon appoints Emma Crookes as Global Head of the insurance vertical
10th October 2024
Global insurance and reinsurance broker Aon has announced the appointment of Emma Crookes as Global Head of the insurance vertical. The insurance vertical delivers Aon’s full range of capabilities to re/insurance clients, offering relevant insights and solutions to help them achieve their strategic goals and make better business decisions. In her new ... Read the full article
Hurricane Milton may drive up property cat reinsurance prices: KBW
10th October 2024
Hurricane Milton can still drive property catastrophe reinsurance prices higher at January 1 renewals, but perhaps only at a low pace, analysts at Keefe, Bruyette & Woods (KBW) suggest. Late last night Hurricane Milton made landfall as a Category 3 hurricane in Siesta Key near Sarasota, about 70 miles south of ... Read the full article
Zurich NA appoints AIG’s Nora Hattauer as Head of Financial Lines
10th October 2024
Zurich North America, a commercial property and casualty insurer, has appointed Nora Hattauer as Head of Financial Lines for its U.S. National Accounts and Middle Market businesses. Based in Atlanta, Hattauer will oversee the direction, management, and performance of Zurich's Financial Lines strategic business unit, which provides insurance solutions for Directors ... Read the full article
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