Reinsurance News
B.P. Marsh sees Net Asset Value climb 20.9% in 2023
11th June 2024
Specialist private equity investor B.P. Marsh & Partners Plc has reported that Net Asset Value (NAV) climbed 20.9% from £189.5 million to reach £229.2 million in its full year results for the year ended 31 January 2024. At the same time, B.P. Marsh also recorded a £43.6 million increase in the equity ... Read the full article
McGill and Partners promotes Rebecca Mason to Partner in Crisis Management
11th June 2024
Insurance and reinsurance broker McGill and Partners has announced the appointment of Rebecca Mason as Partner in its Crisis Management team. Bringing over eight years of experience in the Crisis Management sector to her new role, Mason has a wealth of expertise ranging from kidnap and ransom to terrorism insurance. She ... Read the full article
M&G selects Clearwater Analytics as its SaaS-based investment accounting solution
11th June 2024
Clearwater Analytics, a provider of SaaS-based investment management, accounting, reporting, and analytics solutions, has been selected by international asset manager, M&G Investments, as its SaaS-based investment accounting solution. Clearwater's solution provides M&G Investments with timely, accurate, and comprehensive investment accounting and reporting. The platform will automate both investment management and regulatory reporting ... Read the full article
Fortegra receives approval to operate in Belgium and the EU
11th June 2024
Fortegra, a multinational specialty insurer and subsidiary of Tiptree Inc., has been granted licence to operate in Belgium and the European Union. Based in Brussels, Fortegra Belgium Insurance Company, NV will underwrite specialty lines of business. Its operation in the country offers the company access to strategic distribution channels in a continually ... Read the full article
Artex announces key Chairman and CEO appointments
11th June 2024
Artex Risk Solutions has announced that its Chief Executive Officer (CEO) and Co-founder, Peter Mullen, will be appointed Chairman, and Gallagher’s Regional Executive Vice President, Zeb Holt, will be named Artex’s new CEO, both effective January 1, 2025. Mullen has 38 years of industry experience. He has been the CEO of ... Read the full article
Euclid unveils Euclid Mortgage MGU, Monaghan & Hissong to lead
11th June 2024
Euclid Program Managers, a family of insurance program managers, has launched Euclid Mortgage, LLC, a managing general underwriter (MGU) led by industry veterans Joe Monaghan and Joe Hissong, which underwrites mortgage credit risk on behalf of insurers and reinsurers. Monaghan will serve as the organisation's Managing Principal and Chief ... Read the full article
Lloyd’s approves Devonshire Underwriting to write business in Europe
11th June 2024
Devonshire UW Limited, and its affiliate Devonshire UW Europe GmbH, together known as Devonshire Underwriting, has received Lloyd’s approval to launch into the European Market. Devonshire Underwriting, a managing general agent (MGA) specialising in underwriting transactional risk (TR) solutions, is now able to write business in Europe, serving the market that ... Read the full article
Kin increases size of reinsurance program at favorable economic terms
11th June 2024
The Kin Interinsurance Network and Kin Interinsurance Nexus Exchange, the reciprocal exchanges managed by Kin Insurance, Inc., have completed their natural catastrophe reinsurance programs for the 2024 storm season, securing more coverage than last year. For 2024-2025, the Florida reinsurance program provides $1 billion in coverage for natural catastrophes, representing protection ... Read the full article
Swiss Re’s Ismaeel Adams joins QBE Re as Regional Head of Africa
11th June 2024
Ismaeel Adams has joined QBE Re, the reinsurance arm of QBE Insurance Group, as Regional Head of Africa. Based in Dubai, Adams is joining QBE Re after eight years with global reinsurer Swiss Re, where he most recently served as Vice President - Regional Manager Southern Africa. Through his tenure at Swiss ... Read the full article
AM Best maintains stable outlook on Mexico’s insurance industry
11th June 2024
In spite of a modest deterioration in technical results among Mexico’s insurance companies, credit ratings agency AM Best has confirmed that it is maintaining its stable market segment outlook based on significantly improved premium growth in line with the country’s economic recovery. A recent report released by the agency states that ... Read the full article
Everest Insurance appoints Buonpane as SVP Casualty Specialty Lines & Industry Practices
11th June 2024
Everest Insurance, the insurance division of Bermuda-based re/insurer Everest Group, Ltd., has announced the appointment of Stephen Buonpane as Senior Vice President (SVP) of Casualty Specialty Lines and Industry Practices. In this newly created role, Buonpane will report to Bill Hazelton, Head of Retail Casualty and Industry Practices at Everest Insurance ... Read the full article
An active hurricane season could have profound effects on the re/insurance industry: Moody’s
11th June 2024
A very active Atlantic hurricane season is predicted for 2024, which could potentially have profound effects on the re/insurance, CRE, and supply chain sectors, as well as on credit worthiness and general economic strength for particular global regions and for broader markets, according to Moody’s. Since 2017, when the 12-year hurricane ... Read the full article
Skyward Specialty expands media liability team
11th June 2024
Skyward Specialty Insurance Group, Inc., an insurance company in the property and casualty (P&C) sector, recently announced the recruitment of three accomplished media liability experts. This move signifies the ongoing expansion of the company's Media Liability team, bolstering its position in the market following its successful entry as a primary carrier ... Read the full article
US commercial insurance prices up 6.3% in Q1’24: WTW
10th June 2024
For the first quarter of 2024, U.S. commercial insurance price rises of 6.3% were in line with the post-pandemic trend, with quarterly price increases of approximately 6% having remained steady, according to re/insurance broker WTW's latest Commercial Lines Insurance Pricing Survey (CLIPS). The overall increase of 6.3% for the first quarter ... Read the full article
Insurance premiums and policies rise in China in Q1 2024
10th June 2024
The China National Financial Regulatory Administration (CNFRA), responsible for overseeing the stability and compliance of China's financial sector, has released its supervisory statistics for the first quarter of 2024, highlighting significant increases in insurance premiums and the number of new policies. By the end of the first quarter of 2024, insurance ... Read the full article
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