Reinsurance News
Insuritas adds Disaster Insurance to its platform with Recoop partnership
29th October 2024
Insuritas, an US embedded insurance provider for financial institutions, has partnered with Recoop Disaster Insurance to add Disaster Insurance into its platform. Through this strategic partnership, Recoop's multi-peril disaster insurance product will be integrated into Insuritas' BUNDLE platform. This integration will offer financial institution customers of Insuritas with expanded opportunities to ... Read the full article
Markel hires MarketScout’s Furmanek as Senior Underwriter, Fine Art, NA
29th October 2024
Markel, the insurance division of Markel Group, has appointed Dena Furmanek as Senior Underwriter – Fine Art, North America, with immediate effect. Based in the Chicago area, Furmanek will report to Kyle McGrath, Head of US Fine Art. In her new role, Furmanek will be expected to support the profitable expansion of Markel’s ... Read the full article
French insurers’ ratings unaffected by France’s negative outlook revision, says Fitch
29th October 2024
The recent negative outlook revision for France does not impact the ratings of French insurers, except for CNP Assurances SA, which has also had its outlook revised to negative, according to Fitch Ratings. CNP's revised outlook aligns with a similar action taken for La Banque Postale S.A. (LBP), as CNP is ... Read the full article
9M’24 insured natural catastrophe losses above average at $102bn: Aon
28th October 2024
Global broking group Aon estimates insurance industry losses from natural catastrophe events in the first nine months of 2024 of at least $102 billion, with the impacts of hurricane Milton and additional events expected in the rest of the year poised to push annual insured losses above the $125 billion ... Read the full article
Porch receives approval from TDI to set up an insurance reciprocal exchange, PIRE
28th October 2024
Porch Group, a homeowners insurance and vertical software platform, has been approved by the Texas Department of Insurance (TDI) to form and licence Porch Insurance Reciprocal Exchange (PIRE), a new homeowners insurance reciprocal exchange. PIRE's establishment aligns with Porch's strategy to increase profitability and stabilise earnings in its insurance reporting segment ... Read the full article
Alex Dalton named MD of ViVet, strengthening leadership at Else Group
28th October 2024
Else Group, a company specialising in insurance solutions, and ViVet, its UK-based Managing General Agent (MGA) and Lloyd’s Coverholder, are pleased to announce the appointment of Alex Dalton as Managing Director of ViVet. Through this appointment, ViVet aims to enhance its market reach and expand its client offerings across the UK ... Read the full article
54,000 NFIP flood insurance claims filed for Hurricane Helene: FEMA
28th October 2024
So far, policyholders of the National Flood Insurance Program (NFIP) have filed more than 54,000 claims following Hurricane Helene, the U.S. Federal Emergency Management Agency (FEMA) has reported. Helene was the sixth named storm of the 2024 Atlantic hurricane season and the fourth to make landfall in the U.S. It struck ... Read the full article
Tysers names Babita Rai as CEO, Singapore & William Furness-Smith as Head of Marine, APAC
28th October 2024
Tysers, an independent Lloyd’s broker and member of the Australian AUB Group, has announced the appointments of Babita Rai as CEO for Singapore and William Furness-Smith as Head of Marine, APAC. As CEO of Tysers Singapore, Rai will focus on expanding key business areas and strengthening Tysers’ client relationships in the ... Read the full article
Broker Insights officially brings its commercial insurance placement analytics to the US
28th October 2024
Scottish insurtech Broker Insights, whose platform helps brokers to better understand their business and connect with insurers, has announced its launch in the United States. Broker Insights’s platform, Vision, has been specifically tailored for the US following extensive broker research and collaboration during which time it analysed almost $1bn of gross ... Read the full article
Liberty Mutual estimates combined Helene and Milton losses of up to $900m
28th October 2024
The parent of the Liberty Mutual Insurance group of entities, Liberty Mutual Holding Company, Inc., has revealed that it expects losses related to hurricane Helene of approximately $550 million (pre-tax) in its third quarter results, and losses of between $250 million and $350 million for hurricane Milton, which are still ... Read the full article
Grayston to serve as Ascot’s Group Treasurer & CIO, Thompson to be Group Chief Accounting Officer
28th October 2024
Ascot, the Bermuda-domiciled global specialty insurer, has announced the promotion of two senior leaders: Michael Grayston as Group Treasurer and Chief Investment Officer (CIO), and Sarah Thompson as Group Chief Accounting Officer. In his newly expanded role, Grayston will implement and oversee the group investment strategy and the group treasury functions, ... Read the full article
ARPC reports strong operating result of $710m for FY 2023-24
28th October 2024
The Australian Reinsurance Pool Corporation (ARPC), a government-backed provider of reinsurance for terrorism-related risks, has released its 2023-24 Annual Report, posting an operating result of $710.1 million. During this time, ARPC received a total of $1.1 billion in gross written premiums and net assets of $1.67 billion under management. Dr. Christopher Wallace, ... Read the full article
Ball to lead Aon’s space division as global practice leader, Poliseno to retire
28th October 2024
Global insurance and reinsurance broking group Aon has announced the retirement of Jeff Polisenof following a distinguished 30-year career in aerospace broking and risk management. As Poliseno steps down, Jared Ball will take on additional responsibility as global practice leader of space division. Poliseno’s retirement comes after a distinguished 30-year career in ... Read the full article
Gallagher & Artex launch alternative risk management services in Abu Dhabi
28th October 2024
Gallagher has further expanded its services with the launch of alternative risk management solutions in the Abu Dhabi Global Market (ADGM) through its wholly-owned subsidiary, Artex. This expanded suite of solutions available to clients leverages the expertise of ACE Gallagher's risk professionals, further strengthening their support for businesses across the Middle ... Read the full article
AXA XL & AXIS support landmark $1bn IDB securitisation
28th October 2024
The Inter-American Development Bank (IDB) has announced a new $1 billion securitisation transaction, Scaling4Impact, which includes a $100 million mezzanine tranche, of which a portion was sold to international investor Newmarket Capital, and the remainder insured by AXIS and AXA. Described as a first of its kind securitisation transaction for private ... Read the full article
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