Reinsurance News
Cytora and Mitiga Solutions partner to enhance insurers’ climate risk insights
13th September 2024
Cytora, a digital risk processing platform, has partnered with Mitiga Solutions, a provider of science-based climate risk intelligence, to offer insurers enhanced insights into their climate risk exposure, enabling more informed decision-making. Insurers can now access Mitiga’s on-demand climate risk analysis platform, EarthScan, through Cytora’s platform. This comes at a crucial ... Read the full article
Haris Khan named Head of Solutions and Markets at Pro MGA Global Solutions
13th September 2024
Pro MGA Global Solutions, the independent managing general agent (MGA) incubation arm of Pro Global, an advisor in the specialist insurance industry, has hired Haris Khan as its new Head of Solutions and Markets, effective November 1, 2024. Haris brings extensive experience in the delegated authority sector, having previously held the ... Read the full article
Ripe names ex-Simply Business leader Alan Thomas as CEO
13th September 2024
UK-domiciled, digital managing general agent (MGA) Ripe has appointed Alan Thomas as Chief Executive Officer (CEO) to usher in the company's next growth phase, subject to regulatory approval. Thomas succeeds Paul Williams, who, after almost eight years as CEO, is moving to a Non-Executive Director (NED) role. Williams will serve as ... Read the full article
Conifer Holdings sells all insurance operations, expects significant decline in revenue
13th September 2024
Michigan-domiciled property and casualty holding company Conifer Holdings has announced that as of August 30th, 2024, it completed the sale of its insurance agency operations for $45 million, subject to transaction expenses and customary purchase price adjustments. The sale has some possible additional earn-out payments of up to $25 million based ... Read the full article
CelsiusPro and Tower launch IT platform for parametric cover in the Pacific
12th September 2024
Parametric insurtech CelsiusPro and Tower, a New Zealand and Pacific insurer, have successfully launched the previously announced IT platform for parametric insurance distribution for Tower, beginning with its Cyclone Response Cover in the Pacific Island countries of Fiji and Tonga. The product provides policyholders with rapid cash payouts when their ... Read the full article
Davies appoints Paul O’Brien as the firm’s first Group Chief AI Officer
12th September 2024
Davies, the specialist in professional services and technology, has appointed Paul O’Brien as its first Group Chief Artificial Intelligence (AI) Officer. This appointment comes as the firm makes significant investments to leverage innovation and capitalise on the value of AI, including the use of generative AI (GenAI), across its operations. In the ... Read the full article
Ardonagh Group hires Allianz’s Mark Mitchell to lead growth in Asia
12th September 2024
Independent insurance broker The Ardonagh Group, has hired renowned industry veteran Mark Mitchell to support the expansion of its business operations in Asia. Based in Singapore, Mitchell will work with Ardonagh’s businesses in the region - Envest and Price Forbes, to explore opportunities to expand their retail and wholesale broking footprint, ... Read the full article
Core Specialty enters contract surety market following American Surety acquisition
12th September 2024
Core Specialty Insurance Holdings and its subsidiaries have announced the expansion of its surety offerings by entering the contract surety market. The firm’s new Surety division, part of its Bond, Credit & Guarantee subsegment, was established on November 1, 2023. American Surety Company became a subsidiary of Core Specialty ... Read the full article
Brueckner retires from SCOR, Robbins to take over as CEO of L&H, US
12th September 2024
French reinsurer SCOR has announced that after nine years of service as Chief Executive Officer (CEO) of SCOR Life and Health (L&H), US and 40 years working in the industry, J.C. Brueckner has decided to retire at the end of this year. Brock Robbins, currently SCOR’s Deputy CEO L&H US and ... Read the full article
PURE expands to Canada offering coverage for high-net-worth homeowners
12th September 2024
PURE Insurance, a US-based property and casualty insurer, is expanding into Canada with a new office in Toronto that will begin offering its unique reciprocal model to high-net-worth homeowners in Ontario. PURE will provide coverage for affluent homeowners with properties valued at over $2 million. This expansion gives insurance brokers and affluent ... Read the full article
Lloyd’s announces changes to modernise its approach to misconduct
12th September 2024
Lloyd’s, the world's oldest insurance and reinsurance marketplace, is planning to introduce a series of changes to modernise and streamline how it addresses misconduct and problematic behaviours in the market, including both financial and non-financial issues. The new framework aims to better align with the internal HR and disciplinary processes of firms, ... Read the full article
Moody’s revises outlook for UK P&C to stable, life remains unchanged at stable
12th September 2024
Moody's Ratings has revised its outlook for the UK property & casualty (P&C) sector to stable from negative, which the agency attributes towards P&C personal lines cover, such as motor insurance, rising sufficiently to absorb claims inflation. The agency also noted that its outlook for the UK life insurance sector remains ... Read the full article
WTW appoints Adrian Ruiz as Head of FINEX GB Cyber & TMT
12th September 2024
Global insurance broker WTW has appointed Adrian Ruiz as Head of FINEX GB Cyber & TMT, succeeding Glyn Thoms, who will assume the newly created role of Global Cyber Strategic Development Leader. In his new position, Ruiz will report to Marcus Porter-Wright, Head of FINEX GB, and Peter Foster, Chairman of ... Read the full article
Gallagher launches specialty business in Bermuda with Jasmine DeSilva as MD
12th September 2024
Gallagher has launched a new business in Bermuda to provide specialty insurance solutions, aiming to expand its presence and capitalise on growth opportunities. Gallagher already has a strong client base in Bermuda, alongside its treaty reinsurance operations and alternative risk management business, Artex. The new business will offer insurance and risk management ... Read the full article
Rising capacity in construction insurance to Stabilise pricing and terms through 2025, says WTW
12th September 2024
The construction insurance market is experiencing a notable increase in capacity, reaching levels last seen in 2019, according to the newly released Global Construction Rate Trend Report by WTW, a global insurance broker. This expansion is anticipated to continue through late 2024 and into 2025, as insurers seek to maximise local ... Read the full article
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