Reinsurance News
Profitable growth expected for UK P&C insurers in 2025 amid moderating price momentum: Goldman Sachs
27th November 2024
Goldman Sachs, a global investment banking, securities, and investment management firm, has analysed the current pricing trends across the UK's property and casualty (P&C) insurance sector, suggesting that profitable growth opportunities will remain abundant in 2025, despite moderating price momentum seen in 2024. According to analysts, the evolution of price momentum ... Read the full article
Insurers in the US to benefit from Near Space Labs’ enhanced aerial imagery
27th November 2024
Near Space Labs, an aerial imagery provider for insurance applications among others, has announced the deployment of stratospheric robots across the United States, which will contribute to delivering improved aerial imagery throughout the country. With enhanced 7cm resolution capabilities that match or exceed conventional aerial survey quality, this achievement marks the ... Read the full article
Flooding risk presents major credit challenges for Eastern and Southern US: Moody’s
27th November 2024
Destructive flooding recently caused by hurricane Helene highlights an increasing flood risk for local economies and tax bases, notably across the Eastern and Southern United States, says Moody's Ratings. However, according to analysts, as coastal and inland flooding events are beginning to become more frequent and severe, this growing hazard poses ... Read the full article
GenAI can open doors for malicious cyber actors to exploit capabilities
27th November 2024
Generative AI (GenAI) presents many ways for organisations to revolutionise their respective industries by enhancing business functions, however, the technology may also open doors for malicious actors to exploit capabilities for cyber attacks, according to a new report from Guy Carpenter, the reinsurance broking arm of Marsh McLennan, and CyberCube, ... Read the full article
Artemis Live ILS Market Outlook 2025 webinar – Watch the full replay
27th November 2024
Our insurance-linked securities (ILS) focused sister publication, Artemis, has now published the full video of its ILS Market Outlook 2025 live webinar, during which experts from across the industry dissected the state of the catastrophe bond and broader ILS marketplace with a view to next year. The ... Read the full article
AIG appoints Torben Schwierzke as Head of Casualty for DACH region
27th November 2024
American International Group (AIG), a global insurance company, has appointed Torben Schwierzke as the new Head of Casualty for the DACH region, overseeing the company's Casualty business in Germany, Austria, and Switzerland. Schwierzke is a highly experienced leader with a proven track record of successfully managing teams across all DACH geographies. His ... Read the full article
Understanding, calculating & underwriting systemic risk is cyber’s biggest challenge today: Coalition
27th November 2024
As cyber continues to remain one of the biggest lines of business across the re/insurance industry, there are a number of challenges that the cyber market is currently facing, in light of the recent number of data breaches and major cyber events that the industry has seen throughout the past ... Read the full article
Fitch revises Fortitude Re’s outlook to positive amid continued growth
27th November 2024
Fitch Ratings has revised Fortitude Re's outlook to Positive from Stable, citing the firm's improving profile driven by growth and enhanced diversification across liabilities and geographies, alongside its strong balance sheet. The rating agency has also affirmed Fortitude Reinsurance Company (FRL) and Fortitude Life Insurance and Annuity Company's (FLIAC) Insurer Financial ... Read the full article
AJ Gallagher acquires retail insurance broker Shepard
27th November 2024
Arthur J. Gallagher & Co., a global insurance brokerage, risk management, and consulting services firm, has announced its acquisition of Shepard Insurance Group, based in Old Greenwich, Connecticut. Shepard Insurance is a retail insurance brokerage that caters to high-net-worth clients in the Northeast United States and Florida. Steve Shepard, Kyle Shepard, and ... Read the full article
Apollo’s Smart Follow and Artificial renew partnership
27th November 2024
Smart Follow, a technology-enabled underwriting class within insurance group Apollo, has renewed its partnership with Artificial, a provider of digital follow underwriting technology. This partnership will enable Smart Follow to deploy its capacity in innovative ways, which in turn will enhance the experience for brokers and their clients. Smart Follow and Artificial ... Read the full article
Reinsurers to remain a ‘pillar’ in development of effective cyber market: S&P
27th November 2024
As per a new report from S&P Global, the reinsurance market is set to remain extremely important in providing capital and capacity to support further revenue growth in the cyber insurance market. "In our view, reinsurers will remain an important pillar in the development of a sustainable and effective cyber insurance ... Read the full article
B.P. Marsh and Partners invests additional $12.6m in XPT
27th November 2024
B.P. Marsh and Partners, a specialist private equity investor in early stage financial services businesses, has further invested $12.6 million in XPT, a US based wholesale insurance broking and underwriting agency platform across the US Specialty Insurance Sector. According to the announcement, this transaction was structured via both a purchase of ... Read the full article
Aviva completes £1.7bn buy-in with National Grid pension scheme
27th November 2024
Aviva has completed a £1.7 billion pensioner buy-in with the National Grid Electricity Group (the Group) of the Electricity Supply Pension Scheme (the Scheme). Aviva stated that the transaction, completed in October 2024, involved transferring the Group's existing longevity swap with Zurich Assurance Ltd and provides insurance for the benefits of ... Read the full article
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
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