Reinsurance News
Roadzen partners with Cimarron Underwriters to expand insurance offerings nationwide
18th December 2024
Roadzen has partnered with Cimarron Underwriters, LLC to expand its insurance offerings across all 50 U.S. states by leveraging Cimarron’s nationwide MGA licenses and infrastructure. Cimarron Underwriters, through its subsidiaries—Cimarron Insurance Company and Cimarron Brokerage Company—offers a broad range of insurance, risk management, and financing solutions to business owners and individuals. ... Read the full article
Phoenix grows P&C business with LPT reinsurance deal
18th December 2024
Phoenix Financial Ltd., an Israel-based financial, insurance, and investment group, announced a key Loss Portfolio Transfer (LPT) reinsurance agreement with Ayalon Insurance Company Ltd. The move supports the group's strategic expansion of its Property and Casualty (P&C) insurance operations. Ayalon Insurance will transfer 75% of its outstanding employer and third-party liability claims ... Read the full article
WTW enhances RiskAgility FM with AI capabilities for L&H insurers
18th December 2024
Global insurance brokerage WTW has introduced new artificial intelligence (AI) capabilities to its RiskAgility Financial Modeller (RiskAgility FM), a financial modelling and reporting software technology for life and health (L&H) insurers. Life and health insurers face growing challenges, including managing increasingly complex products and regulations, while ensuring their models accurately reflect ... Read the full article
IFRS 17 presents a number of challenges for re/insurers, poll reveals
17th December 2024
International Financial Reporting Standards (IFRS) 17 introduced a new way of financial reporting for insurers and reinsurers, fundamentally changing how they recognise and measure insurance contracts. While this new standard promises greater transparency and comparability, it has also presented a significant challenge for industry participants. In a recent poll, Reinsurance News asked ... Read the full article
DAC Beachcroft expands to the US with offices in New York and LA
17th December 2024
DAC Beachcroft, an international law firm, continues its global expansion with the launch of new offices in New York and Los Angeles, marking its entry into the US market, effective 1 January 2025. The new offices will combine insurance-focused teams from two US law firms, including four partners and 26 lawyers ... Read the full article
Gallagher names Bassett and Brookes as CEOs within Specialty arm
17th December 2024
Insurance and reinsurance broker Gallagher has appointed Paul Bassett as CEO of Crisis Management and Simon Brookes as CEO of Financial Lines within its Specialty division, both reporting to Jonathan Turner, CEO of Gallagher Specialty. Julian Wallers, who previously served as CEO of Financial Risks, overseeing both teams, has chosen to ... Read the full article
McGill and Partners joins Warburg Pincus’ inaugural multi-asset continuation fund
17th December 2024
McGill and Partners, the independent specialty insurance and reinsurance broker, has been chosen by Warburg Pincus, a global private equity firm, to join its inaugural multi-asset continuation fund. Warburg Pincus, which played a key role in McGill and Partners’ establishment as a cornerstone investor in 2019, has created this new fund, ... Read the full article
Maiden reveals sale of Swedish subsidiaries to network of international re/insurers
17th December 2024
Maiden Holdings, Ltd., a provider of insurance and reinsurance services, recently announced that it has reached an agreement to sell its Swedish subsidiaries, Maiden General Försäkrings and Maiden Life Försäkrings, to a growing network of international insurance and reinsurance companies based in London. These subsidiaries were key components of Maiden’s International ... Read the full article
Nagpal to lead Gallagher Re’s Analytics team in APAC, Murch named Deputy Head
17th December 2024
Reinsurance broker Gallagher Re has announced some leadership changes within its Analytics team in Asia Pacific, appointing Hemant Nagpal as Head of Analytics and Darren Murch as Deputy Head of Analytics. Nagpal joined Gallagher Re from Moody's RMS in 2021 as Head of Catastrophe Analytics. Prior to his five year tenure ... Read the full article
Property reinsurance pricing likely to come under pressure at 1.1: JMP Securities
17th December 2024
As the reinsurance industry draws close to a second year of strong profitability at near/historic highs, pricing is very likely to come under pressure at the upcoming January 1st renewals for property reinsurance rates, according to JMP Securities. After recently meeting with insurers, reinsurers, and brokers in London, ahead of the ... Read the full article
Artemis Live: Capital markets structures for originators webinar – Watch the full replay
17th December 2024
Artemis, our insurance-linked securities (ILS) focused sister publication, has now published the full replay of its live webinar on the use of alternative capital sources by originators of insurance risk, which was held on November 21st, 2024, in association with Artex Capital Solutions. More than 830 people registered ... Read the full article
Paradiso Risks joins Ryan Specialty‘s Alive Risk MGU
17th December 2024
Ryan Specialty has announced that Paradiso Risks is joining its sports, leisure and entertainment (SLE) managing general underwriter (MGU), Alive Risk. Paradiso, an MGU specialising in contingency and non-appearance insurance, became a part of the firm through the acquisition of Castel Underwriting Agencies on May 1st, 2024. Founded in 2022, Paradiso is ... Read the full article
OAK Re teams up with Moody’s to enhance global risk modelling for 2025 underwriting launch
17th December 2024
Reinsurance provider Oak Reinsurance (OAK Re), authorised to underwrite business beginning January 1, 2025, through its Lloyd’s Syndicate 2843, has partnered with Moody’s to integrate applications from the Moody’s Intelligent Risk Platform (including Risk Modeller and ExposureIQ). This collaboration enables OAK Re to gain a comprehensive, high-definition view of risks across ... Read the full article
MNRB appoints Dato’ Rudy Rodzila Che Lamin as Interim President & Group CEO
17th December 2024
MNRB Holdings Berhad, the parent company of Malaysian Re, has announced the appointment of Dato’ Rudy Rodzila Che Lamin as Interim President & Group CEO. Dato’ Rudy succeeds Zaharudin Daud who served as President & Group CEO of MNRB for the past four years. In his new role, he will collaborate with ... Read the full article
Bridge Specialty Group takes on assets of American Risk Management Resources Network
17th December 2024
J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc., along with David Dybdahl and Cynthia Statz, owners of American Risk Management Resources Network, LLC (ARMR), recently announced that Brown & Brown, a national insurance intermediary, Inc.'s subsidiary, Bridge Specialty Group, has acquired the assets of ARMR. ARMR is a ... 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.
