Reinsurance News
Lancashire Insurance U.S. appoints Flude as CEO, Jones to become CUO
4th December 2024
Bermuda-based Lancashire Holdings Limited has appointed James Flude as Chief Executive Officer (CEO) of Lancashire Insurance U.S., succeeding Huw Jones, who has been appointed to the new role of Chief Underwriting Officer (CUO) for Lancashire U.S. Flude, who will relocate to the U.S., currently serves as Group CUO: Insurance. He joined ... Read the full article
AM Best revises outlook for US personal lines insurance to stable
4th December 2024
Global credit ratings agency AM Best has revised its outlook for the US personal lines insurance segment to stable from negative, in line with a corresponding change in the personal auto outlook to stable from negative. According to the agency, the shift in the personal lines segment outlook is owed to ... Read the full article
Q3’24 sees record value in buy-in & buy-out transactions of £20bn: Hymans Robertson
4th December 2024
Hymans Robertson has reported that the total value of buy-in and buy-out deals completed in the third quarter of 2024 reached nearly £20 billion, marking the highest volume ever recorded for this period in any calendar year. This record quarter follows a strong first half of 2024, during which 134 ... Read the full article
Zurich Resilience Solutions and GoImpact partner to address climate risks in Asia Pacific
4th December 2024
Zurich Resilience Solutions (ZRS), the commercial risk advisory unit of Zurich Insurance Group, has partnered with GoImpact Capital Partners, a sustainability-focused organisation, to assist businesses in the Asia Pacific region in navigating the growing challenges of climate change. This collaboration combines ZRS’s advanced climate risk analysis, proprietary climate and financial loss ... Read the full article
Italian insurance sector set to surpass €100bn in life premiums by 2025, says Morningstar DBRS
4th December 2024
According to Morningstar DBRS, an independent provider of credit ratings and financial analysis, the Italian insurance sector is on track to sustain its strong performance into 2025. Key drivers include a significant recovery in life insurance premiums, steady growth in non-life segments, and higher investment returns. However, challenges such as elevated life ... Read the full article
Fortegra announces launch of new UK subsidiary
4th December 2024
The Prudential Regulation Authority (PRA) has granted Fortegra, a global specialty insurer and subsidiary of Tiptree, approval to establish Fortegra Insurance Company UK, its new subsidiary in the United Kingdom. Fortegra has established a strong reputation in the Managing General Agents (MGAs) and Managing General Underwriters (MGUs) market. This success is ... Read the full article
QBE hires Claire Lill as US Casualty Portfolio Manager
4th December 2024
Australian insurer QBE has announced the appointment of Claire Lill as Portfolio Manager to lead and strengthen the firm’s US Casualty offering. Lill brings to her new role over three decades of London Market Casualty experience and is joining QBE’s International Markets division from Apollo Syndicate 1969, where she held the ... Read the full article
Industry leader Malcolm Cutts-Watson to retire after five-decade career
4th December 2024
After overseeing the merger of RISCS with Cutts-Watson Consulting (RISCS CWC) and serving as Chair for two years, Malcolm Cutts-Watson is stepping down at the end of December to retire following an illustrious five-decade career. Malcolm Cutts-Watson, a seasoned captive practitioner, director, and consultant, has amassed extensive experience working across various ... Read the full article
Generali agrees to sell Philippines business to Insular Life
4th December 2024
Italian insurer Generali has reached an agreement for the sale of its 100% stake in Generali Life Assurance Philippines, Inc. to The Insular Life Assurance Company, Ltd. According to Generali, the agreement is aligned with its strategic plan to drive sustainable growth, enhance its earnings profile, and optimise its geographical footprint. The ... Read the full article
Mortgage insurer Enact enters into two quota share reinsurance agreements
4th December 2024
Enact Mortgage Insurance Corporation, the flagship legal entity of mortgage insurer Enact Holdings, Inc., has entered into two quota share reinsurance agreements with a broad panel of highly rated reinsurers, subject to certain conditions. Under these agreements, Enact will cede approximately 27% of a portion of expected new insurance written from ... Read the full article
Lockton Re expands Capital Advisory team with addition of Aon’s Sabrina Veau
4th December 2024
Lockton Re, the reinsurance arm of the independent insurance broker, has appointed Sabrina Veau as a Senior Broker in its growing Capital Advisory team, based in London. She was most recently focused on the Strategic Advisory arm of the Capital Advisory team at Aon, where she had been for 22 years. ... Read the full article
Fitch’s outlook remains neutral for the European insurance sector for 2025
4th December 2024
Fitch Ratings has revealed that its outlook for the European insurance sector remains 'neutral' for 2025, which according to the agency, reflects resilient operational and business conditions, and disciplined pricing, amid falling bond yields, easing inflation and moderating non-life premium rates. Analysts noted that the outlooks for the underlying sectors are ... Read the full article
Proposals to develop a UK captive market will progress in 2025, says DAC Beachcroft
4th December 2024
According to analysts at international insurance law firm, DAC Beachcroft, proposals to develop a UK captive market are expected to progress further in 2025. Analysts noted that the new UK Labour government has signalled that it could be receptive to establishing a UK-domiciled captive regime. "The London Market Group (LMG), with the ... Read the full article
BHSI announces UK executive & professional lines appointments
4th December 2024
Berkshire Hathaway Specialty Insurance (BHSI) has announced the appointment of Andrew Hopper as Head of Financial Institutions, UK, and the promotion of Chris Nixon to Underwriting Manager, Executive & Professional Lines, UK. Nixon will be taking over the role from Chris Warrior, who is retiring at year end. “I am extremely proud ... Read the full article
Worldlink Specialty launches digital platform for streamlined aviation insurance solutions
4th December 2024
Worldlink Specialty, LLC, a provider of specialised insurance products for the aviation and aerospace industry, has revealed its new digital portal, offering easy access to its exclusive range of aviation insurance solutions. Brokers and their aviation clients can now enjoy a streamlined process for obtaining coverage, quotes, and payment options with ... Read the full article
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