Reinsurance News
Optio Group acquires Luxembourg-based MGA, Circles
3rd October 2024
Optio Group, a specialty managing general agent (MGA) has acquired the Luxembourg-based MGA, Circles Group (Circles) for an undisclosed sum, subject to regulatory approval. According to the announcement, the acquisition of Circles marks Optio's largest in Europe to date. At the same time, the acquisition also represents a critical development in Optio's ... Read the full article
AIG’s Simonsen joins Coalition as European Head of Insurance
3rd October 2024
Coalition, an active insurer focused on preventing digital risks, has appointed Tine Simonsen as its Head of Insurance for Continental Europe. Simonsen has nearly 14 years of experience as a specialist within the Financial Lines & Cyber Insurance segments, focusing on products such as Cyber Insurance, D&O Insurance, and Professional Indemnity. In ... Read the full article
AI-powered climate risk platform launched by Adaptive Insurance
3rd October 2024
A new parametric insurance platform, Adaptive Insurance, powered by artificial intelligence (AI) has launched with a mission to change how businesses safeguard against climate risks. The company’s flagship product GridProtect will offer immediate, technology-driven financial relief businesses impacted by power outages responsible for $150 billion in annual losses. Power outages are a ... Read the full article
Hub International Limited’s corporate family assigned B2 rating by Moody’s
3rd October 2024
Moody’s Ratings has upgraded Hub International Limited’s corporate family rating to B2 from B3, with a stable outlook, as well as its probability of default rating to B2-PD from B3-PD. According to the agency, this upgrade was based on the company’s steady credit metrics and Moody’s expectation that Hub will maintain ... Read the full article
Aon restructures senior leadership team for US Financial Services Group
3rd October 2024
Global insurance and reinsurance broker Aon has restructured its senior leadership team for US Financial Services Group (FSG), appointing Anna Digel as Chief Broking Officer. Collin Breeney and Joe Reynolds have also been promoted to co-leaders for the greater New York region, also for Aon’s US FSG. These promotions follow Kary Trocchia's ... Read the full article
AM Specialty backs new pet insurance solution
3rd October 2024
AM Specialty Insurance Company (ASIC), a provider of specialised insurance products, and Swain & Baldwin Insurance & Risk Management, an independent agency with over 65 years of experience, are excited to announce the launch of the PawPro Pet Insurance Program—a comprehensive solution tailored for renters with pets. Initially available in Texas, ... Read the full article
Ryan Specialty completes acquisition of MGA Geo Underwriting Europe
3rd October 2024
Ryan Specialty, an international specialty insurance firm, has completed the acquisition of certain assets of Geo Underwriting Europe BV (Geo Europe), a European managing general agent (MGA) and part of The Ardonagh Group. This follows the initial announcement of the acquisition on September 3, 2024. Based in Rotterdam, Netherlands, with operations ... Read the full article
Hurricane Helene unlikely to impact FHCF or Citizens ratings, but may trigger NFIP reinsurance: Fitch
3rd October 2024
Hurricane Helene is not likely to affect credit ratings for property & casualty re/insurers, Citizens Property Insurance or the Florida Hurricane Catastrophe Fund (FHCF), but could trigger the National Flood Insurance Program's (NFIP) catastrophe reinsurance, according to Fitch Ratings. The global rating agency has based its assessment on an initial estimate ... Read the full article
The Fidelis Partnership’s Pine Walk launches reinsurance MGA Silverflame Re
3rd October 2024
The Fidelis Partnership's wholly-owned subsidiary, Pine Walk Capital Limited, has launched Silverflame Re, a new specialty reinsurance managing general agent (MGA). Silverflame Re aims to complement The Fidelis Partnership’s existing specialty reinsurance book, writing a treaty portfolio initially focusing on two core lines, Marine, Energy & Composite and Credit & Surety. Silverflame ... Read the full article
Microinsurance Network & AIO collaborate to advance the development of inclusive insurance in Africa
3rd October 2024
The Microinsurance Network (MiN), a Luxembourg-based non-profit association, has announced a strategic partnership with the African Insurance Organisation (AIO), marking a significant milestone in advancing the development of inclusive insurance markets across Africa. MiN and AIO, along with additional support from the International Labour Organisation (ILO)’s Impact Insurance Facility are aiming ... Read the full article
Arthur J. Gallagher’s Artex acquires Ohio-based Risk International
3rd October 2024
Insurance and reinsurance broker Arthur J. Gallagher & Co. has announced that Artex, its alternative risk and capital solutions subsidiary, has acquired RIBV Holdings, LLC, which operates as Risk International. Based in Ohio, Risk International specialises in outsourced risk management and employee benefits advisory services for private equity and corporate clients ... Read the full article
CRC Group’s Starwind Specialty Insurance Services names Kirk Conrad CUO
3rd October 2024
CRC Group’s Starwind Specialty Insurance Services has appointed Kirk Conrad as its Chief Underwriting Officer (CUO). As CUO, Conrad will help shape the firm’s underwriting strategies, monitor and manage risks, and help to stay on top of emerging trends in the marketplace. The executive's deep expertise in data and analytics will play ... Read the full article
JP Morgan expects the reinsurance market to stabilise heading into 2025
3rd October 2024
A new note from JP Morgan on the European reinsurance market following RVS 2024, says that with the industry now producing strong returns, analysts are expecting that 2025 will lead to a stabilisation of the reinsurance market. Analysts noted that they heard a relatively consistent message on pricing from market participants, ranging ... Read the full article
McGriff acquires Amity Benefits to enhance employee benefits practice
3rd October 2024
McGriff, a US-based retail insurance broker, has announced its acquisition of Amity Benefits, a full-service retail employee benefits brokerage located in Tampa, Florida. Mike Breedlove, National Sales and Growth Leader at McGriff, expressed enthusiasm about the acquisition, stating, “We’re thrilled to welcome Brian and the talented team at Amity to McGriff. “Their ... Read the full article
OdysseyRe hires Munich Re’s Daniel Boisvert as SVP, Property Treaty
3rd October 2024
After almost nine years with Munich Re America, part of the global re/insurance group, Daniel Boisvert has joined Odyssey Reinsurance Company as Senior Vice President (SVP) for its Property Treaty division. Based in Stamford, Connecticut, Boisvert reports to Executive Vice President, Joseph Guardo, and brings more than 20 years of experience ... Read the full article
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