Reinsurance News
Strategic Risk Solutions announces launch of SRS Italy
26th September 2024
Strategic Risk Solutions (SRS), an independent insurance company manager globally, has announced the establishment of SRS Italy. Based in Milan, SRS Italy will be the first specialised provider of insurance management services specifically for captive insurance and reinsurance companies based in Italy. SRS Italy is a collaborative effort between SRS and Strategica ... Read the full article
Acrisure opens Bermuda office, appoints Paul Scope as CEO
26th September 2024
Global insurance broker Acrisure has expanded its operations with the opening of a new office in Hamilton, Bermuda, focusing on wholesale insurance broking for its global clients. This new capability, trading as Acrisure Bermuda Limited under the Acrisure brand, complements the company's existing reinsurance and specialist managing general agent (MGA) facilities. Acrisure ... Read the full article
AI the biggest challenge facing digital health and wellness firms: Beazley
26th September 2024
Beazley, the specialist insurer, has revealed AI to be the biggest challenge facing digital health and wellness firms globally as they ramp up its integration into their systems. Beazley's Digital Health & Wellness 2024 report is a survey of 600 industry executives in six countries across Europe, North America and Asia ... Read the full article
Blin & Lambert join Descartes to enhance underwriting in new risk classes
26th September 2024
Descartes has appointed Cyril Blin as Principal Underwriter, Technical Risks, and Benjamin Lambert as Senior Credit Underwriting Manager, Credit & Political Risk Insurance (Single Risk). According to the firm, the appointment of these two experienced insurance professionals will allow it to extend its underwriting approach into new risk classes. Both Blin and ... Read the full article
2024 disaster relief demand triggers first IFRC-DREF insurance payout
26th September 2024
Demand for disaster relief has surpassed the ‘deductible’ threshold, triggering, for the first time, an insurance payout by the International Federation of Red Cross and Red Crescent Societies’ Disaster Response Emergency Fund (IFRC-DREF). The IFRC-DREF is a crucial source of rapid funding for National Red Cross and Red Crescent Societies during ... Read the full article
Paul Daniel to lead Dale’s Global Property Reinsurance business
26th September 2024
Dale Underwriting Partners, the trading name for Dale Managing Agency Limited’s Lloyd’s Syndicate 1729, has appointed Paul Daniel as Head of Global Property Reinsurance, effective October 28, 2024. In his new role, based in London, Daniel will be responsible for leading Dale’s Global Property Reinsurance business and will report to Ian ... Read the full article
West appoints Cai Xuanlun as new CEO of Hong Kong office
26th September 2024
West P&I, a global insurance provider for the maritime and offshore industries, has announced the appointment of Cai Xuanlun (XL) as the new CEO of its Hong Kong office, effective December 2024. Xuanlun will take over from Richard Macnamara, who is stepping down after 28 years. Macnamara has played a key ... Read the full article
PRA outlines strategy to boost UK insurance competitiveness & attract investment
26th September 2024
As the PRA marks the first anniversary of its Secondary Competitiveness and Growth Objective (SCGO), the regulator's Director of Insurance Supervision, Shoib Khan, has highlighted a series of new initiatives designed to maintain trust in the prudential framework while facilitating the UK’s economic growth through the insurance sector. Introduced last year ... Read the full article
Insurers could see limited impact from CE floods on P&C 2024 underwriting results: S&P
26th September 2024
The impact of the floods resulting from Storm Boris in Central Europe on rated insurers' property and casualty (P&C) underwriting performance will be manageable, S&P analysts expect. A slow-moving storm caused days of intense rainfall and severe flooding across Czechia, Poland, Austria, and Romania over the second week of September. Given the ... Read the full article
Hurricane Helene forecast to be a very large storm ahead of Cat 3 Florida landfall
26th September 2024
Hurricane Helene is in the Gulf of Mexico with maximum sustained winds near 90 mph with higher gusts, and strengthening is expected as it heads towards Florida, currently forecast to make landfall on the Big Bend coast as a major Category 3 storm later this evening or early Friday morning ... Read the full article
Resolution Re enters into third UK PRT reinsurance transaction
26th September 2024
Resolution Re, the Bermudian reinsurance platform of global life insurance group, Resolution Life, has entered into a new UK Pension Risk Transfer (PRT) reinsurance deal with a leading UK-regulated insurer. Resolution Life’s other two transactions were signed in 2023, and now the firm manages a cumulative total of over $3.5 billion ... Read the full article
CFC expands global presence with opening of first office in Spain
26th September 2024
CFC, an insurance provider and specialist in emerging risks and cyber insurance, has announced the opening of its first office in Spain. Following its expansion into North America and Australia earlier in 2024, the new Madrid office represents another step in CFC’s strategy to grow its global presence. This move aims to ... Read the full article
Aurélien Sauty to lead Africa Specialty Risks’ new marine and aviation divisions
26th September 2024
Africa Specialty Risks (ASR), the pan-African and Middle East-focused re/insurance group, has appointed Aurélien Sauty to lead its new Marine and Aviation divisions, as Head of Marine and Aviation. The appointment and strategic expansion further enhance ASR’s commitment to providing comprehensive, high-quality underwriting solutions tailored specifically to the unique risks across ... Read the full article
PSC Insurance Group’s shareholders approve acquisition by Ardonagh
26th September 2024
The shareholders of PSC Insurance Group Limited have approved Ardonagh's proposed acquisition, as revealed by the independent insurance broking platform. Back in May, it was announced that Ardonagh had entered into a Scheme Implementation Deed to acquire all the issued ordinary shares in PSC. At the time, the scheme cash ... Read the full article
Fidelis Insurance promotes Aoife Woulfe to CUO, Ireland
26th September 2024
Fidelis Insurance Group, the global specialty insurer, has promoted Aoife Woulfe to the role of Chief Underwriting Officer (CUO) of Ireland. Woulfe joined Fidelis in May of this year as Head of Underwriting, Ireland, after spending more than a decade with Tokio Marine Kiln (TMK). During her tenure with TMK, Woulfe ... Read the full article
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