Reinsurance News
Pooling funds, transferring risks to insurers enhances coverage to those at-risk: Start Network
17th October 2024
In an interview with Reinsurance News, Abdou Alassane, Technical Lead, Crisis Anticipation and Risk Financing at Start Network, emphasised that pooling funds and transferring some risk to the insurance market has enhanced Start Network's humanitarian efforts, providing greater coverage to at-risk populations. Start Network is a global network of non-governmental organisations ... Read the full article
Guy Carpenter sees revenue climb 6% to $381m in Q3
17th October 2024
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has reportedly generated revenue of $381 million in Q3 of 2024, an increase of 6% compared with the same quarter of 2023. Marsh McLennan's Risk & Insurance Services unit, which houses both Guy Carpenter and Marsh, saw revenue of $3.5 billion in ... Read the full article
Specialist Risk Group names Collin Yap as Chief Executive Officer of Asia Pacific
17th October 2024
Insurance industry intermediary, Specialist Risk Group (SRG), has appointed Collin Yap as Chief Executive Officer (CEO) of Asia Pacific, after his current employment contract ends in the new year. This leadership appointment aligns with SRG’s broader expansion into the Asia Pacific region, following the acquisition of Singapore-domiciled, retail insurance broker, HL ... Read the full article
NFP acquires Dublin-Based IHI Group to expand health and insurance offerings in Ireland
17th October 2024
NFP, a subsidiary of Aon and an international insurance brokerage and consultancy, has announced its acquisition of IHI Group, a Dublin-based advisory firm specialising in financial planning, healthcare, and general insurance services. Philip Brennan, CEO of IHI Group, will join NFP as Vice President of Business Development. He, along with Patrick Brennan, ... Read the full article
Reeve joins Argenta’s D&F Property team as Senior Underwriter
17th October 2024
Argenta has strengthened its D&F Property Team with the appointment of Sarah Reeve as Senior Underwriter, a London-based role. Reeve will be joining Hannah Wyatt, Unit Head of Open Market Property, and James Blackwell, Divisional Head of Property, to further develop Argenta’s D&F Property portfolio. With a career spanning 17 years, she ... Read the full article
Lilypad Insurance acquires Centauri Specialty Insurance & Centauri National Insurance
17th October 2024
Lilypad Insurance Holdings has completed its acquisition of Centauri Specialty Insurance Company and Centauri National Insurance Company, effective September 30th, 2024, following the receipt of all necessary regulatory approvals. The strategic acquisition aims to strengthen Lilypad Insurance Holdings’ footprint in the coastal property insurance market and leverage Centauri’s extensive industry experience. Established ... Read the full article
AXA XL grows in Australia with trio of appointments in Perth
17th October 2024
AXA XL has grown its presence in the Australia market by appointing Chris McElroy and Amanda Rattue as Senior Underwriters for Property and Financial Lines respectively, while also naming Trent Jeuring as Senior Underwriter, Casualty. McElroy joins AXA XL from Berkshire Hathaway Specialty Insurance, where he served as senior property underwriter ... Read the full article
Cytora partners with Meetrisk to enhance marine insurance risk evaluation
17th October 2024
Cytora, a digital risk processing platform, has teamed up with Meetrisk, a provider of advanced marine risk intelligence. This collaboration integrates Meetrisk's Marine Platform into Cytora's sophisticated underwriting productivity tool, enabling marine insurers to utilise improved resources for accurate risk assessment and management of vessels, fleets, and portfolios. As a result, insurers ... Read the full article
ASIC enters into strategic capital partnership with Veritex Bank
17th October 2024
Dallas-domiciled surplus lines insurance carrier, AM Specialty Insurance Company (ASIC), has entered a strategic capital partnership with Veritex Bank by obtaining a $20 million senior secured loan facility through a private placement with Veritex Community Bank. In the initial phase of the senior secured loan facility, the agreement includes a multimillion-dollar ... Read the full article
AXA rebrands China reinsurance unit to AXA International Re
17th October 2024
AXA Insurance has renamed its China reinsurance business, XL Re China, to AXA International Re, according to finews.asia. This reportedly follows AXA’s acquisition of the mainland China unit in April. Sally Wan, CEO of AXA Greater China, commented, "This strategic renaming to ‘AXA International Re’ underscores our commitment to the mainland Chinese ... Read the full article
HCI expects to pay up to $750m to policyholders from hurricanes Debby, Helene & Milton
17th October 2024
Insurer HCI Group expects to pay between $600 million and $750 million to policyholders across all three events, with net retained losses for the company far lower at around $185 million as a result of its comprehensive reinsurance arrangements. The property and casualty insurer has provided an update on the hurricane ... Read the full article
Starwind Specialty hires Kirby to lead newly launched Political Violence & Terrorism program
17th October 2024
Starwind Specialty Insurance Services, has launched a new Political Violence and Terrorism (PVT) program - Starwind PVT, and has appointed Chris Kirby to lead as Program President. Launched on October 1, the PVT program is focused on providing coverage for physical damage, business interruption and liability coverage for terrorism, strikes, riots ... Read the full article
Asia’s growing senior population presents opportunities for insurers: RGA
17th October 2024
Growth opportunities are emerging for insurers as demand for private coverage rises among Asia's growing senior population, according to a recent report by Reinsurance Group of America, Incorporated (RGA). The report is based on a survey of 1,636 respondents aged 55 to 80 with minor health issues across China, Hong Kong, ... Read the full article
Resilience adds ex-CrowdStrike executive, Matthew Polly as Chief Revenue Officer
17th October 2024
Cyber risk solutions company Resilience has appointed industry veteran and former CrowdStrike executive, Matthew Polly as Chief Revenue Officer (CRO). As Resilience’s primary revenue strategist, Polly will help accelerate all existing and future revenue streams. He will work across Resilience’s executive and senior leadership team to align, integrate, and scale the ... Read the full article
Coalition helps UK policyholders recover stolen funds from cyberattacks with new service
17th October 2024
Coalition, an active insurer focused on preventing digital risks, has launched a service dedicated to recovering funds stolen by cyber attackers in the UK. Designed to intercept funds in the banking system before an attacker can move them, the cyber insurer’s new ‘clawback’ service has recently proven a success with the ... Read the full article
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