Reinsurance News
American Overseas reports $6.2m increase in P&C premiums for Q2’24
1st October 2024
American Overseas Group, a Bermuda-based property & casualty (P&C) holding company, reported a significant rise in net earned P&C premiums for Q2 2024, increasing by $6.2 million from $6.5 million last year to $12.7 million. Gross written premiums also saw a notable increase, growing by $70.9 million from $164.3 million to ... Read the full article
Miller completes acquisition of Madrid-based broker Bruzon
1st October 2024
Independent specialist insurance and reinsurance broker Miller has completed its acquisition of Madrid-based commercial re/insurance broker Bruzon Correduría de Seguros y Reaseguros S.A. and Bruzon Services S.A. (Bruzon). This acquisition follows the initial announcement made in May 2024. Founded in 1990, Bruzon is a leading broker in Spain, focused on the ... Read the full article
Insured losses from Central Europe floods seen at up to $3.4bn by Verisk
1st October 2024
Global data analytics and technology provider, Verisk's Extreme Event Solutions arm has estimated that insured losses from September flooding in Czechia, Poland, and Austria will land between $2.2 billion (€2bn) and $3.4 billion (€3bn). From September 12th to 16th, severe flooding driven by an extreme amount of rain impacted large parts ... Read the full article
Beazley appoints Bantick CUO, Greenwood named Beazley Furlonge Limited CEO
1st October 2024
Specialty insurer Beazley has appointed Paul Bantick as Chief Underwriting Officer (CUO), effective immediately, and Bethany Greenwood as Chief Executive Officer (CEO) of Beazley Furlonge Limited, the company’s Lloyd’s managing agency, subject to regulatory approval. Bantick is taking over the CUO role from Bob Quane, who is to retire. While the ... Read the full article
Acrisure Re appoints Gallagher Re’s Peter Sharpe as Head of London Specialty Reinsurance
1st October 2024
Acrisure Re, the reinsurance and insurance division of global fintech Acrisure, has appointed Peter Sharpe as the Head of the London-based Specialty Reinsurance team, effective October 7th. Sharpe has a reporting line to David Sowrey, Managing Director of Acrisure Re’s International Treaty business. His remit will include a focus on driving the ... Read the full article
PIB Group acquires RS Insurance Brokers
1st October 2024
PIB Group, the specialist insurance intermediary has acquired Nottingham-based RS Insurance Brokers, adding RS’s expertise in Fleet and Professional Indemnity in particular to its portfolio of specialisms. From what Reinsurance News understands, eight people will be moving into PIB from RS. RS's owner and Managing Director, Karll Smith, said that selling his ... Read the full article
Marijke van Berkom to spearhead Resilience’s expansion into France and Benelux
1st October 2024
Cyber risk solutions firm Resilience has expanded its insurance operations to France and Benelux, appointing renowned cyber insurance veteran Marijke van Berkom as Head of France & Benelux to lead its efforts to support clients and brokers across the region. This shift builds on the company's successful expansion into the UK, ... Read the full article
Hannover Re hires Blake Dimitrijevic from Guy Carpenter as MD of Australian branch
1st October 2024
Large European reinsurer Hannover Re has appointed Blake Dimitrijevic, formerly of reinsurance broker Guy Carpenter, as the new Managing Director (MD) of its Australian branch. Dimitrijevic joins the firm after a little over a year with Guy Carpenter, who he joined in September 2023 from Swiss Re as Managing Director, Head ... Read the full article
Despite Budget concerns, leaders remain bullish on business outlook for Q4: KPMG
1st October 2024
In anticipation of the Chancellor's forthcoming Budget, three quarters of financial services leaders foresee a moderate or greater impact on their operations, over a quarter expect the impact will be significant, but business outlook remains optimistic, a KPMG survey has found. KPMG’s latest UK Financial Services Sentiment Survey is a quarterly ... Read the full article
Insurance to play crucial role in the growth of digital payments ecosystem: Chubb
1st October 2024
A new survey from global property and casualty insurer Chubb has highlighted the rising impact of cyber fraud on consumer trust and behavior. The survey, which was conducted across the US, Mexico, Brazil, Indonesia, Singapore, the Philippines, Thailand, and Vietnam, reveals that 61% of respondents have altered their use of digital ... Read the full article
RBC predicts hurricane Helene insured losses could reach double-digit billions
30th September 2024
Analysts at RBC Capital Markets (RBC) predict that insured losses from Hurricane Helene could range from mid-single-digit billions to as high as double-digit billions. Hurricane Helene made landfall in Florida’s Big Bend region on Thursday, September 26th, as a powerful Category 4 storm. This marks the third hurricane to strike the ... Read the full article
B.P. Marsh acquires 44% shareholding in Czech MGA CEE Specialty
30th September 2024
B.P. Marsh has expanded its portfolio with the acquisition of a 44% stake in Czech marine and liability MGA CEE Specialty, providing €3.3m of funding which was utilised in full to effect a management buy-out. CEE Specialty is an underwriting agency founded in 2019 specialising in Marine Hull, Bonds and Liability ... Read the full article
Arch Insurance International announces leadership promotions in executive assurance
30th September 2024
Arch Insurance International, a provider of specialty insurance products, has announced the promotion of Maggie Munns to Head of Executive Assurance and Matthew Doherty to Director of Underwriting, Executive Assurance, both effective immediately. Munns will be responsible for overseeing the underwriting operations for the Executive Assurance division, which includes Commercial D&O, ... Read the full article
SRG completes investment partnership with Warburg Pincus and Temasek
30th September 2024
Insurance industry intermediary Specialist Risk Group (SRG) has announced the completion of the transaction for the majority of its shares to be acquired by global growth investor, Warburg Pincus, and Temasek, a global investment company headquartered in Singapore. It's important to note, that SRG's partnership with both investors aims to support ... Read the full article
Henry Nelson named Liberty Specialty Markets CUO for the UK & MENA region
30th September 2024
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Henry Nelson as Chief Underwriting Officer (CUO) for the UK & MENA region, effective January 1, 2025. According to the announcement, Nelson will begin transitioning into his new role over the coming weeks, working alongside current CUO Mel O’Neill, ... Read the full article
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