Reinsurance News
Kate Nolan joins Devonshire Underwriting as Tax Associate
13th December 2024
Devonshire Underwriting, a managing general agent (MGA) specialising in underwriting transactional risk solutions, has announced the appointment of Kate Nolan as Associate – Tax, effective immediately. In her new role, Nolan will work alongside Devonshire Founding Partner Natasha Attray, whose core focus is on Devonshire’s Tax Insurance offering. Additionally, her role will ... Read the full article
Swiss Re eyes $4.4bn net income & leaner P&C CoR in 2025
13th December 2024
Swiss Re has revealed its financial targets for 2025, including a Group net income of more than $4.4 billion, and a Property & Casualty Reinsurance combined ratio of less than 85%. According to the global reinsurer, all business units are aiming for more ambitious targets compared with 2024. L&H Re aims ... Read the full article
LIMRA reports 36% increase in US single-premium pension risk transfer premiums in Q3’24
13th December 2024
LIMRA, a global research and consulting organisation for the insurance and financial services industry, reports that the total US single-premium pension risk transfer (PRT) premium reached $14.2 billion in the third quarter. This represents a 36% increase compared to the same period last year. Year-to-date (YTD), the total single-premium PRT premium has ... Read the full article
Eurazeo to sell its stake in Albingia
13th December 2024
Eurazeo has entered into exclusive discussions with an investor consortium led by La financière de Blacailloux (Fiblac), a family holding company, regarding the sale of its 70% stake in Albingia, a French insurance company specialising in risk management, headed by Valentine de Lasteyrie. The consortium is composed of the management team, ... Read the full article
Orion180 announces launch of personalised Residential Flood Insurance product
13th December 2024
Orion180, a provider of insurance solutions, has recently announced the launch of its new Residential Private Flood Insurance product. Orion180’s Private Flood Insurance product provides customisable and extensive coverage options for homeowners across all flood zones. Designed with the flexibility to meet the specific needs of both agents and policyholders, it pairs ... Read the full article
Lloyd’s to set benchmark for regulatory competitiveness: LMA
13th December 2024
According to Paul Davenport, Finance & Risk Director at the Lloyd’s Market Association (LMA), the Lloyd's Market has made notable progress towards its objectives of reducing the burden of compliance with financial reporting for participating, particularly towards plans to reduce the volume and frequency of reporting for technical provisions and ... Read the full article
Korean Re sees Issuer Credit Rating upgraded by AM Best
13th December 2024
Credit rating agency AM Best has upgraded Korean Reinsurance Company’s (KRE) Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” (Excellent) from “a” (Excellent) and affirmed its Financial Strength Rating (FSR) of A (Excellent). Additionally, AM Best has revised the outlook of the Long-Term ICR to stable from positive while the outlook ... Read the full article
Cyber risk to intensify in 2025 as attackers switch tactics: Moody’s
12th December 2024
Cyber risk is set to intensify next year as attackers switch tactics in response to better corporate cyber defences, and as advances in artificial intelligence (AI) increase the volume and effectiveness of their strikes, says Moody's Ratings. According to Moody's 2025 cybersecurity outlook, ransomware attackers are expected to shift to targeting ... Read the full article
HDI Global SE names Dr Schulte as Global Head of Marine
12th December 2024
Commercial and specialty lines insurer HDI Global has appointed Dr Carsten Schulte as the Global Head of Marine of its industrial insurer, HDI Global SE, effective January 1st, 2025. The company confirmed that Alexander Schlei will succeed Dr Schulte as Head of Technical & Strategic Services. The pair will report directly to ... Read the full article
Regal Re enters Ghana’s insurance market with new Accra office
12th December 2024
Regal Reinsurance Brokers has officially launched in Ghana, opening an office at Achimota, Mile 7, in Accra, according to a report by The Multimedia Group. Specialising in all lines of insurance for clients in Ghana and abroad, Regal Re is regulated by the National Insurance Commission of Ghana and the State ... Read the full article
Swiss Re’s Frederico Knapp joins IRB (Re) as CFO
12th December 2024
Swiss Re's Frederico Knapp has been appointed Chief Financial Officer (CFO) of IRB-Brasil Resseguros S.A. (IRB Re). Knapp will reportedly join the firm on December 20, 2024, replacing Marcos Pessôa de Queiroz Falcão, who will remain as Chief Executive Officer and Investor Relations Officer of the business. IRB Re confirmed that Knapp's ... Read the full article
Facultative reinsurance increasingly used to manage emerging challenges: WTW
12th December 2024
New research from WTW has revealed a shift away from a transactional view of facultative reinsurance and a move towards using it as a tool to achieve strategic objectives and priorities, fill gaps in treaties and manage risk throughout the cycle. According to a survey conducted by WTW partner Coleman Parkes ... Read the full article
QBE secures class 4 license in Bermuda
12th December 2024
Global insurer QBE now has a class 4 license in Bermuda, providing the reinsurance arm, QBE Re, with further optionality in the balance sheets it offers its cedants. In a recent LinkedIn post, QBE Re said, “This is a great complement to the underwriting capability we have been building in Bermuda ... Read the full article
IBISA and VisionFund launch suite of parametric climate insurance products
12th December 2024
Global climate insurtech IBISA and VisionFund, the financial empowerment and livelihood arm of World Vision, have launched ClimaCash+, a suite of parametric climate insurance products aimed at helping communities vulnerable to climate risks respond quickly, even before a disaster strikes. ClimaCash+ was created in response to the increasing frequency of extreme ... Read the full article
Steenbergen appointed member of AXA’s Board of Directors to replace Duan
12th December 2024
Ewout Steenbergen, current Executive Vice President and Chief Financial Officer of Booking Holdings Inc., has been appointed as a member of AXA’s Board of Directors to replace Rachel Duan as she intends to resign from her directorship at the end of the year. Steenbergen will replace Daun for the remainder of ... Read the full article
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