Reinsurance News
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
Munich Re Specialty enters Spanish insurance market, to begin underwriting in 2025
10th October 2024
Munich Re Specialty, part of the Munich Re Group insurance operations, has established a Spanish branch of Munich Re Risk Solutions Ireland Limited, making its first steps into commercial market for primary specialty insurance in the country. The firm intends to begin underwriting in 2025, as Munich Re Risk Solutions Ireland ... Read the full article
PGIM Multi-Asset Solutions appoints Mao Dong as Co-Head of Portfolio Management
10th October 2024
PGIM Multi-Asset Solutions (PMA), the solutions specialist of PGIM, has announced the appointment of Mao Dong as Co-Head of Portfolio Management. PGIM was recently selected as the asset manager for an $11 billion reinsurance transaction by Prudential Financial to Wilton Re. This marks PGIM’s second reinsurance mandate, following its appointment ... Read the full article
Workforce dynamics & tech advancements supporting the growth of middle market businesses, Aon
10th October 2024
A new study conducted by insurance and reinsurance broking group Aon and the National Center for the Middle Market (NCMM), has revealed two key trends that are supporting the growth of middle market businesses: workforce dynamics and technology advancements. It's important to note that research was conducted through online surveys of ... Read the full article
US faces highest risk of unrest since 2020 protests, says Verisk
10th October 2024
As the US presidential election approaches, the potential for political violence, including large-scale protests, is increasing due to the current volatile political landscape, according to data from Verisk’s global risk unit. This election is one of the most volatile in recent history, marked by two assassination attempts on Republican nominee Donald ... Read the full article
Blue Ocean Re hires Nico Kleine Punte to lead its accounting operations
10th October 2024
Blue Ocean Reinsurance Group, the newly established managing general agent (MGA) platform, has added three key professionals to its expanding team: Nico Kleine Punte, joins the leadership group to oversee the firm's accounting operations, Derek Shanahan joins as Senior Vice President and Account Executive, and Nancy Manyange, has been appointed ... Read the full article
Icosa Investments updates insured loss estimate from Milton to between 20-60bn
10th October 2024
With Hurricane Milton recently making landfall near Sarasota, Florida, as a Category 3 major hurricane, Icosa Investments has updated its estimates for insured losses to between $20 billion and $60 billion, adding the range is still subject to change due to significant uncertainty. "Fortunately, Tampa avoided the feared direct hit, and ... Read the full article
hyperexponential launches its first reinsurance pricing model
10th October 2024
hyperexponential, a pricing platform for global re/insurers, has launched its first templated reinsurance model aimed for treaty reinsurance, including Excess of Loss (XoL). This move, hyperexponential stated, marks the company's next stage of expansion into the reinsurance market. While reinsurers use proprietary models to distinguish themselves in the market, the industry has ... Read the full article
PPL and Microsoft partner to advance London market digital placing with new trading hub
10th October 2024
Placing Platform Limited (PPL) has entered a multi-year agreement with Microsoft to accelerate its transition from a transaction platform to a data-driven trading hub. This collaboration will see the integration of Microsoft’s data and AI capabilities and productivity tools into the flow of work on PPL’s specialty insurance trading platform. It aims ... Read the full article
Starwind Specialty Insurance Services introduces environmental unit headed by Mike Padula
10th October 2024
Starwind Specialty Insurance Services, a division of CRC Group, has introduced a new environmental unit, which will be led by Mike Padula. In this position, Padula will oversee the creation of a comprehensive range of environmental products, positioning Starwind to stay ahead of industry trends and maintain its competitive edge. "Bringing Mike ... Read the full article
Milton poses significant threat to Florida property market: AM Best
10th October 2024
In a new commentary, AM Best warns that Hurricane Milton poses a significant threat to the Florida-concentrated property insurers that lack diversification. AM Best believes that diversified, large insurers and reinsurers would be able to absorb losses from Hurricane Milton, depending on the intensity, location and magnitude of the hurricane; however, ... Read the full article
Cowbell reports successful first year in the UK with triple-digit growth
10th October 2024
Cowbell, a cyber insurance provider for small and medium-sized enterprises (SMEs), has reported significant growth as it marks the first anniversary of its expansion into the UK. From January to June 2024 alone, Cowbell's results show continued success in the region, highlighted by a threefold increase in premiums, policies, and producers: ... Read the full article
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