Reinsurance News
Global cyber attacks will more than double this year to 211, says QBE
1st October 2024
The number of disruptive and destructive global cyber-attacks taking place each year is set to increase by 105% to the end of 2024, according to a new report from QBE. In fact, the trend shows that these significant, disruptive and destructive global cyber-attacks are likely to more than double this year ... Read the full article
Enstar completes $400m LPT with SiriusPoint
1st October 2024
A wholly owned subsidiary of legacy specialist Enstar Group has closed the previously announced $400 million loss portfolio transfer (LPT) with a subsidiary of Bermuda-based insurer and reinsurer, SiriusPoint. This transaction sees Enstar's subsidiary reinsure a $400 million portfolio of workers’ compensation business, covering the underwriting years 2018 to 2023. Under ... Read the full article
Pagliarulo to lead Cowbell’s finance team, Biderman appointed General Counsel
1st October 2024
Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs) and middle-market businesses, has appointed Denise Pagliarulo to lead its finance team. In her new role, Pagliarulo will be overseeing global finance operations as the company enters a period of growth with new products, services, and geographies. The company has ... Read the full article
SEADRIF makes $3m payout to support provinces in Lao PDR following Typhoon Yagi
1st October 2024
SEADRIF Insurance Company has made a record total payout of US$3 million to support the provinces in Lao PDR impacted by the passage of Typhoon Yagi, which has been called Asia’s most powerful storm this year. The extended flood impact triggered a second payout of $2.25 million on September 30, Read the full article
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
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