Reinsurance News
Send partners with Deloitte to deliver its underwriting workbench platform worldwide
23rd October 2024
Send Technology Solutions (Send), a UK-based Insurtech software company, has partnered with Deloitte to deliver Send’s underwriting workbench platform to commercial and specialty carriers worldwide. Send’s Underwriting Workbench is an API-enabled platform designed for agile insurers. It serves as a one-stop desktop for commercial and specialty underwriters, managing the entire underwriting ... Read the full article
AIG’s new Atlanta innovation hub to drive growth and create 600+ jobs
23rd October 2024
American International Group, Inc. (AIG) has announced its plans to consolidate and expand its Atlanta-area footprint with the relocation of its Alpharetta and Buckhead operations to a new innovation hub To be located at 2002 Summit Boulevard Northeast in Brookhaven, Georgia, AIG’s new hub has been designed as a collaborative workspace ... Read the full article
Coterie teams up with Berkley Re to provide cyber insurance for evolving business risks
23rd October 2024
Coterie Insurance, a technology-driven managing general agent (MGA) focused on simplifying small business insurance, has introduced cyber insurance to its platform through a new collaboration with Berkley Re Solutions and TransUnion. Leveraging coverage from Berkley Re Solutions and cyber services from TransUnion's TruEmpower™ Cyberscout solutions, Coterie now integrates Berkley Re’s tailored ... Read the full article
CoreLogic introduces a cloud-based portal for enhanced catastrophe risk assessment
23rd October 2024
Catastrophe risk modeller CoreLogic has introduced Navigate, a cloud-based portal offering flexible access to its global suite of over 185 high-fidelity catastrophe risk models. The platform enhances workflows, offering scalability, accessibility, and speeding up run times, enabling more efficient risk assessments and quicker decision-making. Garret Gray, President of CoreLogic Global Insurance Solutions, ... Read the full article
LMG’s Data Council unveils consultation for Treaty Core Data Record
23rd October 2024
The London Market Group's (LMG) Data Council has unveiled a consultation on the structure and fields of its proposed extension of the Core Data Record (CDR) to cover Treaty. According to the announcement, the consultation will run for eight weeks from October 22nd. It's worth noting that market members will be able ... Read the full article
Clack named Head of Commercial Strategy of Broadstone’s Consulting & Actuarial division
23rd October 2024
Broadstone, an independent financial services consultancy, has promoted Jeremy Clack to the newly created role of Head of Commercial Strategy in its Consulting & Actuarial (C&A) division. In this new role, which he will take on in addition to his existing responsibilities as Head of Midlands Advisory, Clack's primary responsibility will ... Read the full article
ASIC commences proceedings alleging QBE misled customers on pricing discounts
23rd October 2024
The Australian Securities and Investments Commission (ASIC), Australia’s corporate, markets, and financial services regulator, has commenced court proceedings against QBE Insurance (Australia) Limited, alleging it misled customers about discounts on certain general insurance products. The case concerns previously reported discrepancies, where QBE made statements and sent renewal notices offering discounts on ... Read the full article
B.P. Marsh sees Net Asset Value increase to £252.9m in H1’24
23rd October 2024
B.P. Marsh & Partners, the specialist private equity investor, has reported that Net Asset Value increased by £23.7 million to £252.9 million in its half-year results for the six months to July 31, 2024, representing a notable increase from £229.2 million, which the firm recorded on January 31, 2024, and ... Read the full article
Joly-Pottuz to lead HDI Global’s Alternative Risk Transfer division, HDI Enablers
23rd October 2024
HDI Global, a commercial and specialty lines insurer, has reorganised the management of its HDI Enablers division appointing Eric Joly-Pottuz to manage the Paris-based Alternative Risk Transfer (ART) unit. Etienne de Varax, who managed the unit since its establishment in August 2022 with Joly-Pottuz as his deputy will retire at the ... Read the full article
New pension longevity model launched by Oliver Wyman and Mercer
23rd October 2024
Oliver Wyman and Mercer, businesses of Marsh McLennan, has launched a new pension risk transfer (PRT) longevity model that will enable pension plan sponsors, direct insurers and reinsurers to better price and manage longevity risk. Drawing on Mercer's US longevity dataset of over one million pension lives, the model leverages the ... Read the full article
Rokstone agrees new deal with Aviva for its D&F property portfolio
23rd October 2024
Rokstone, an international speciality re/insurance MGA part of the Aventum Group, has announced a three year binding authority agreement with Aviva for its Direct & Facultative (D&F) property portfolio. According to Rokstone, the facility will enable it to write global property D&F business up to $2 million per risk, with the ... Read the full article
Jim Hinchley named Chief Retail Officer for Markel’s Specialty division
23rd October 2024
Markel, the insurance division of Markel Group Inc., has announced the appointment of Jim Hinchley as Chief Retail Officer for its Specialty division. In this role, Hinchley will lead Markel's retail strategy, drive profitable growth in existing business, and explore new opportunities for expansion within the retail channel. He will report to ... Read the full article
Losses from Milton to possibly reach third layer of Heritage’s reinsurance tower
23rd October 2024
Heritage Insurance, a super-regional P&C insurance holding company, expects gross losses from Hurricane Milton to breach the third layer of its reinsurance tower. Milton is expected to incur Heritage approximately $57 million of net current accident quarter catastrophe losses for Q4 2024. Ernie Garateix, Heritage CEO, commented, "Overall, we are in a ... Read the full article
P/C credit rating downgrades decline, but so do upgrades in H1 2024: AM Best
23rd October 2024
There have been fewer credit rating downgrades in the first half of 2024 compared with the same prior-year period, at the same time upgrades in the US property/casualty insurance segment declined in the same period, AM Best has revealed. Fewer credit rating downgrades in H1 2024 were mainly due to the ... Read the full article
BHSI appoints Kristina Målarbo as Head of Claims, Nordics
23rd October 2024
Berkshire Hathaway Specialty Insurance (BHSI), a commercial property, casualty, and specialty insurer, has appointed Kristina Målarbo as the Head of Claims, Nordics, based in Stockholm. Målarbo has 25 years of industry experience overseeing commercial insurance claims, including multinational claims, at global insurance companies. Earlier this year, BHSI announced its entry into the ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
