Reinsurance News
QBE reports 2% GWP growth on renewal premium rate increases of almost 6%
27th November 2024
Australian insurer QBE, in its latest performance update, has revealed that gross written premium (GWP) growth in the nine months to September 30th was 2% on the prior period, on both a reported and constant currency basis. The insurer explains that this continued growth was driven by group-wide renewal premium rate ... Read the full article
Arch Insurance Intl. promotes Ouwehand to lead its Terrorism, Political Violence and War team
27th November 2024
Arch Insurance International, a division of Bermuda-based re/insurer Arch Capital Group, has promoted Jelle Ouwehand to Head of Terrorism, Political Violence and War, based in London with a reporting line to Lino Leoni, Chief Underwriting Officer, Short Tail Lines. In his new role, Ouwehand's remit includes leading the team’s underwriting activities ... Read the full article
AM Best upgrades credit ratings of Zurich and its core subsidiaries
27th November 2024
AM Best has upgraded the Issuer Credit Ratings of Zurich Insurance Group and its core subsidiaries, highlighting the firm's robust balance sheet, strong operating performance, and very favourable business profile as key factors driving the decision. Namely, AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa” (Superior) ... Read the full article
ACORD launches ADEPT Placing for unified data exchange in global insurance market
27th November 2024
ACORD Solutions Group, a provider of advanced digital solutions for the global insurance sector, has introduced a placing data exchange capability within its ADEPT platform. This one-to-many interface serves as a universal hub, enabling insurers and brokers around the world to exchange placing data seamlessly. It integrates with major placing platforms ... Read the full article
SRG names Matt Byrne as Executive Director, Entertainment and Sport
27th November 2024
Insurance industry intermediary, Specialist Risk Group (SRG), has announced the promotion of Matt Byrne to Executive Director of their Entertainment and Sport pillar. Prior to his new role, Byrne was Head of Broking - Entertainment Media & Sport, a role he held since 2023 when he joined SRG. He was instrumental in ... Read the full article
Aon to acquire Mitsubishi Chemical Group’s insurance agency in Japan
27th November 2024
Aon, a global professional services firm, has announced the signing of a definitive agreement to acquire the in-house insurance agency business of Mitsubishi Chemical Group (MCG), further strengthening the re/insurance broker's risk and health offerings in Japan. The insurance agency, currently operating as part of Dia Rix, MCG’s internal business services ... Read the full article
PartnerRe appoints Chris Shanahan as CEO of Life & Health
26th November 2024
Bermuda-based reinsurance company PartnerRe has promoted Chris Shanahan to Chief Executive Officer (CEO) of its Life & Health operations, succeeding Marc Archambault, effective January 1st, 2025. Since September 2021, Shanahan has served as PartnerRe's CEO of North America Life, having joined the firm in 2018 as Executive Vice President, Life Corporate ... Read the full article
Abu Dhabi Re expands product suite
26th November 2024
Abu Dhabi Reinsurance Company (ADRe), a reinsurance service provider in the Abu Dhabi Global Markets platform, has announced the expansion of its product suite to include Commercial General Liability. From what Reinsurance News understands, the addition of Commercial General Liability builds on ADRe's existing lines of business, providing limits of up ... Read the full article
Stuart Dale joins David Martin to lead Volante Re
26th November 2024
Stuart Dale has joined international managing general agent Volante Global to head the firm’s new Volante Re platform as CUO Treaty Reinsurance alongside David Martin. Volante Re will formally commence operations on June 1st, 2025. The company will provide specialized reinsurance solutions, initially focusing on treaty underwriting in the Casualty and ... Read the full article
VIG’s 9M’24 GWP rises to €11.5bn
26th November 2024
Vienna Insurance Group (VIG) has disclosed that gross written premiums (GWP) increased by 8% to €11.5 billion for 9M 2024, compared to last year’s €11.4 billion, as insurance service revenue grew more than 9% year-on-year to €9 billion. The insurer has revealed that the highest premium increases came from the Special ... Read the full article
Hadron appoints Colin Johnson as CEO, International
26th November 2024
Hybrid insurer Hadron has announced the appointment of Colin Johnson as Chief Executive Officer of the company’s International operations. In his new role, Johnson will oversee Hadron UK Insurance Company (HUKIC) and related companies, pending regulatory approval. His goal will be to build a premier franchise serving the delegated authority market ... Read the full article
China’s untapped personal & health insurance market to unlock growth opportunities: BCG
26th November 2024
China's personal insurance sector is predicted to grow in the range of 5% to 10% by 2035, a potential expansion primarily driven by the relatively untapped market for pension and health insurance in the country, according to a recent report by BCG. With an ageing population, increased health awareness post-COVID, and ... Read the full article
Qatar Insurance Group announces partnership with Ooredoo
26th November 2024
Qatar Insurance Group (QIC) and Ooredoo Group have signed a Memorandum of Understanding (MoU) to offer integrated insurance products that deliver innovative, customer-centric insurance solutions, and revolutionise insurance and telecommunications services. This strategic partnership is poised to revolutionize the insurance and telecommunications industries, reinforcing their leadership positions in their respective fields, ... Read the full article
Previsico to bring its flood forecasting solutions to Esri UK’s clients
26th November 2024
Previsico, a provider of surface water flood forecasting, has entered into a partnership with Esri UK, a notable company across geographic information system software, location intelligence, and mapping, which will see Previsico bring its flood forecasting solution to Esri UK's clients to help mitigate future flood impacts and losses. Under the ... Read the full article
OAK Re Syndicate 2843 receives permission to underwrite from January
26th November 2024
Oak Reinsurance (OAK Re), the global reinsurance firm, has announced that its Lloyd’s Syndicate 2843 has received permission to underwrite business incepting from January 1, 2025, which follows from the approval in principle that was received in September 2024. According to the announcement, OAK Re is launching Syndicate 2843 in collaboration ... Read the full article
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