Reinsurance News
Bishop Street announces joint venture with Skyward Specialty to boost differentiated MGA platform
5th September 2024
Bishop Street Underwriters, the multi-boutique insurance platform owned by RedBird Capital Partners, has announced a strategic joint venture with Skyward Specialty Insurance Group to support growth of its Differentiated MGA Platform. The joint venture is expected to accelerate Bishop Street's ability to strengthen managing general agents (MGAs) and support existing program ... Read the full article
Earnix partners with Hexaware to help refine insurer’s pricing strategies
5th September 2024
Hexaware, an IT services and solutions provider, looks to accelerate insurance pricing transformation with its recent Earnix partnership, a global provider of AI-based SaaS pricing and rating solutions for financial services. The partnership aims to improve underwriting, efficiency, reduce losses, better comply with the regulations, and ensure competitive advantage through effective ... Read the full article
Ashley Mehyo named VP of Claims for Fine Art and Collectibles at Distinguished Programs
5th September 2024
Distinguished Programs, a national insurance programmes manager, has appointed Ashley Mehyo as Vice President of Claims for its Fine Art and Collectibles programme. With over seven years of industry experience, Mehyo has specialised in Fine Art & Collectibles throughout her career. Her expertise will be crucial in advancing Distinguished's commitment to offering ... Read the full article
Chubb hires QBE’s Greg Giardiello as Global Controller
4th September 2024
Chubb has announced the appointment of Greg Giardiello as Global Controller, succeeding Mong-Diep "Dee" Le, who was recently named Chubb's Chief Auditor. Based in Chubb's Philadelphia office, Giardiello will be reporting to George Ohsiek, Vice President, Chubb Group and Chief Accounting Officer. "Adding outside skills and perspectives to the deep knowledge and ... Read the full article
EPIC strengthens commercial and private client practices with Phillips Bros. acquisition
4th September 2024
EPIC Insurance Brokers & Consultants (EPIC) has expanded its presence in the midwest of the US with the acquisition of Phillips Bros. Insurance Agency. Based in Chicago, Phillips Bros. is a multi-line firm that focuses on private client and commercial property & casualty solutions. The fifth-generation family-run firm led by father-and-son duo ... Read the full article
Reinsurance pricing to perpetually recalibrate, but program restructuring to endure: Guy Carpenter
4th September 2024
After 2023 saw substantial reinsurance market corrections, including the restructuring of programs and the reset of pricing, 2024 has focused on the details, but according to executives at Guy Carpenter, while pricing is expected to continuously recalibrate, program restructuring is likely to be sustained. During Guy Carpenter's recent pre-Monte Carlo media ... Read the full article
Tokio Marine HCC launches malicious cyber event coverage for event cancellation
4th September 2024
Tokio Marine HCC (TMHCC) – Specialty Group, part of the Tokio Marine HCC companies based in Houston, Texas, has announced the addition of a malicious cyber event extension to its cancellation product. This enhancement is available through both its Lloyd’s syndicate and HCC International Insurance Company PLC. TMHCC – Specialty Group's event ... Read the full article
MNK Re appoints Mark Ritson as Director of Energy
4th September 2024
MNK Re, an independent broker of specialist risks into Lloyd’s, has announced the appointment of Mark Ritson as Director of Energy. In this role, Ritson will focus on expanding MNK Re’s energy portfolio, leading efforts to develop and secure more business for the firm’s energy team. Manoj Kumar, CEO of MNK Group, ... Read the full article
Renewal rates for nearly all major commercial lines down month over month: Ivans
4th September 2024
In the August 2024 results of the Ivans Index, year over year, Commercial Auto, BOP, General Liability, Commercial Property and Umbrella experienced notable increases in average premium renewal rates, while premium renewal rates decreased for Workers’ Compensation. However, month over month, all major commercial lines premium renewal rates were lower, except ... Read the full article
Flood Re warns complex planning system threatens flood insurance for new builds
4th September 2024
While progress has been made in adopting flood mitigation measures for new builds in the UK, Flood Re warns that a lack of transparency, consistency, and clarity is undermining the insurance sector’s confidence in the planning system and threatening its ability to insure new properties against flood risk. Research by the ... Read the full article
Allianz UK grows personal lines with Wright appointment as MD of home insurance
4th September 2024
Allianz UK has announced the addition of Graham Wright to its growing personal lines business, appointing him Managing Director of Home Insurance. Reporting to Serge Raffard, he will join the UK personal lines leadership team in December, and will work alongside Henry Topham, Managing Director, Retail and Nicola George, Managing Director, ... Read the full article
Enstar’s “go-shop” period has expired, Sixth Street merger expected to close in mid-2025
4th September 2024
Global insurance group Enstar has announced that its 35-day “go-shop” period, provided with the previously announced definitive merger agreement with Sixth Street, expired on September 2, 2024. The definitive merger agreement involves Sixth Street acquiring Enstar in a $5.1 billion transaction, with Liberty Strategic Capital, J.C. Flowers & Co. LLC, ... Read the full article
Neptune Flood hits 200,000 policies and $250 million in premiums
4th September 2024
Neptune Flood, a private flood insurance provider in the US, has hit a major milestone with 200,000 policies and $250 million in premiums. This marks a new stage in the company's efforts to deliver cutting-edge, affordable insurance options across the country. Neptune Flood has revolutionised the traditional flood insurance model by using ... Read the full article
Reinsurers to maintain healthy pricing and tight T&Cs for another year: Moody’s
4th September 2024
According to Moody's, most respondents to its annual survey of global property & casualty reinsurance buyers expect prices to remain stable or increase in 2025, suggesting that reinsurers will maintain healthy pricing and tight terms and conditions in most business lines for another year. Around 61% of respondents to Moody's 2024 ... Read the full article
Register now for Artemis’ ILS Market Outlook 2025 live webinar
4th September 2024
Our insurance-linked securities (ILS) focused sister publication, Artemis has partnered with Wilmington Trust to host a live webinar on October 31st, 2024, during which four ILS sector experts will discuss the catastrophe bond and broader ILS marketplace. Registration is now open to attend this free Artemis Live ... Read the full article
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