Reinsurance News
Aspen’s Christian Dunleavy named Chair of ABIC
20th September 2024
The Association of Bermuda International Companies (ABIC) has announced the appointment of Christian Dunleavy as its new Chair, succeeding Patrick Tannock. ABIC represents the internationally owned businesses that are based in Bermuda but operate globally. There are over 1,500 exempted or international companies registered in Bermuda, with around 400 maintaining a ... Read the full article
Florida, Louisiana & South Carolina among top ten US states for hurricane risk: Guidewire
20th September 2024
Guidewire, a provider of software solutions to the insurance industry, has released critical data and maps detailing hurricane risk in the United States, with this being available at the national, state, and local levels. Guidewire's service leverages more than 1,000 data points and HazardHub risk scores for climate risks and extreme weather ... Read the full article
Markel hires April Tam to strengthen Financial Institutions proposition in Asia
20th September 2024
Markel, the insurance arm of global re/insurer Markel Group Inc., has announced the appointment of April Tam as Senior Underwriter, Professional Financial Risk (PFR) & Cyber and Head of Financial Institutions in Asia. In this role, Tam will focus on strengthening Markel's financial institutions offerings in Asia. She will collaborate with ... Read the full article
Miller appoints Steven Rance as Head of Reinsurance Strategy & Innovation
19th September 2024
Miller, an independent specialist reinsurance and insurance broker, has announced the appointments of Steven Rance as Head of Reinsurance Strategy & Innovation and Charlotte Lowe as an Account Handler. In his new role, Rance will report to Shaun Sinniah, Head of Reinsurance and Capital at Miller, and collaborate with the global ... Read the full article
Allstate August cat load takes YTD losses to $3.67bn
19th September 2024
Large US primary insurer Allstate has reported estimated catastrophe losses of $272 million ($215 million after-tax) for the month of August, taking total catastrophe losses for August year-to-date to $3.67 billion ($2.90 billion, after-tax). Catastrophe losses for August include 15 events resulting in an estimated $306 million in losses. A significant ... Read the full article
Akur8’s core platform chosen by LWCC to advance predictive modelling
19th September 2024
Akur8, an insurance pricing solution utilising transparent machine learning, has announced a new partnership with Louisiana Workers' Compensation Corporation (LWCC). As Louisiana’s leading workers' compensation provider, LWCC is committed to excellence throughout the insurance process, from underwriting to long-term care for injured workers. LWCC has chosen Akur8’s Core Platform to build its ... Read the full article
RVS Roundtable: The market’s in a decent position, but it’s at that pivotal point
19th September 2024
Reinsurance News held its second Monte Carlo Roundtable at the 66th Rendez-Vous de Septembre last week, during which six experienced reinsurance industry executives debated a range of topics including property and casualty market conditions, structural changes, models, technology, cyber, and more. Sponsored by reinsurance broker BMS Re and professional services firm, ... Read the full article
KatRisk launches new SCS model amid rising losses
19th September 2024
KatRisk, a global catastrophe modelling company, has launched a new Severe Convective Storm (SCS) model to tackle the increasing risks associated with these storms. With SCS events causing $70 billion in insured losses globally in 2023, KatRisk aims to enhance the understanding and management of these risks. The SCS model improves risk ... Read the full article
HDI Global appoints Ahn as CEO, Hong Kong, Lau becomes Director, APAC Network
19th September 2024
HDI Global SE Hong Kong, a subsidiary of industrial insurer HDI Global has appointed Michael Ahn as its Chief Executive Officer (CEO) effective November 1st, 2024. Simultaneously, Daniel Lau moves to a new role as Director, Asia Pacific Network. Both the appointments are subject to regulatory approvals. Ahn is an industry ... Read the full article
Sir Charles Roxburgh named new Chair of Lloyd’s
19th September 2024
Lloyd’s, the world’s oldest insurance and reinsurance marketplace, has announced that Sir Charles Roxburgh KCB will become its next Chair, effective 1 May, 2025. Roxburgh will be succeeding Bruce Carnegie-Brown, who has held the position since 2017. He brings a wealth of experience from both the UK Government and the private sector, ... Read the full article
US P/C mutual insurers demonstrate strength amid persistent challenges: AM Best
19th September 2024
According to a recent report from AM Best, a credit rating agency specialising in the insurance industry, US property and casualty (P/C) mutual insurance companies have used investment income to help cushion the financial impact of weather-related challenges, which have caused fluctuations in underwriting performance. The latest Best’s Market Segment Report, ... Read the full article
Lockton secures regulatory approval for Colombian reinsurance operations
19th September 2024
Privately held insurance brokerage firm Lockton has entered the Colombian reinsurance market as it has received regulatory approval to operate a reinsurance brokerage business in the country. The new venture is expected to bring numerous benefits to the broker’s clients, including access to a broader range of reinsurance products, enhanced risk ... Read the full article
INSTANDA integrates life offering with Swiss Re’s underwriting platform, Magnum
19th September 2024
INSTANDA, a no-code, digital platform for insurance carriers and managing general agents, has integrated its Life offering with reinsurance giant, Swiss Re's automated underwriting platform, Magnum, enabling the creation of one ecosystem designed to create an all-in-one (online) customer journey. Through extensive expertise and experience within the Life and Health sector, the ... Read the full article
Re/insurers are implementing improving tech tools to identify emerging future casualty cat perils: KBW
19th September 2024
Following meetings with executives at the recently held 2024 Rendez-Vous de Septembre (RVS) in Monte Carlo, KBW has reported that re/insurers are increasingly implementing steadily improving technological tools to identify emerging or future casualty catastrophe perils. Analysts noted that associated insured loss estimates remain very high. As an example, Praedicat, the casualty ... Read the full article
Growth could be challenged when current pricing momentum starts to moderate: Thompson, Gallagher Re
19th September 2024
Growth was a key topic for re/insurers at RVS 2024, Will Thompson, Global Head of Clients of Gallagher Re, commented, but this could be challenged when the current strong pricing momentum begins to moderate. Speaking with Reinsurance News at the annual meeting of the reinsurance industry in Monte Carlo, Thompson said: ... Read the full article
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