Reinsurance News
AXIS appoints industry veteran Pranav Shroff as Head of Life Sciences, North America
11th September 2024
Global specialty underwriter and re/insurance provider AXIS Capital Holdings Limited (AXIS) has announced the appointment of Pranav Shroff as Head of Life Sciences in North America. Based in New York, Shroff will report to Michael McKenna, Head of AXIS North America. In his new role, he will oversee the development of specialty ... Read the full article
Personal lines drives increase in US downgrades over last three years: AM Best
11th September 2024
Recent years have seen a higher number of negative ratings actions on businesses operating in US insurance markets, with downgrades of AM Best-rated US firms increasing by 60% in 2023. According to AM Best, this deterioration reflects the conditions that US property & casualty (P&C) insurers have been facing in recent ... Read the full article
HDI Global integrates GenAI, enhancing international programmes and driving digital innovation
11th September 2024
HDI Global SE, an industrial insurer, is set to integrate generative artificial intelligence (GenAI) into its services within the International Programmes sector to enhance customer offerings. Following the successful trial of its in-house AI solution, HDI's specialists will be better equipped to meet the intricate demands of global business operations with ... Read the full article
Munich Re’s HSB expands cyber offering as potential losses from the sector rise
11th September 2024
HSB, a multi-line specialty insurer and part of reinsurance giant Munich Re, has expanded its cyber insurance coverage with new protections for connected vehicles, cybercrime victims, digital wallets, and other emerging risks. HSB Home Cyber Protection offers a mix of innovative cyber coverages and services for online fraud, cyber extortion, home ... Read the full article
NewRe’s CEO optimistic on future growth, calls for reinsurance agreement transparency
11th September 2024
Despite experiencing a difficult year in 2023, NewRe's CEO Thomas Braune expects that the firm's growth from the past will continue. In addition to expressing confidence in the company's future, he emphasised the need for greater clarity and transparency in reinsurance agreements. Braune's comments stem from an interview with Reinsurance News ... Read the full article
Aon has been restructuring its risk business based on client need: President, Andersen
11th September 2024
Global insurance and reinsurance broking group Aon has been restructuring its risk business, based on what the firm has been seeing from client need, according to Eric Andersen, President of Aon. These comments stem from Andersen's speech at the Guernsey Finance reception held at the Monte Carlo Rendez-Vous event on Tuesday. During ... Read the full article
Discipline will help maintain market conditions with possible rate softening ahead: ReFlex CEO
11th September 2024
Discipline in the re/insurance market will be essential to enter a period of prosperity and a regular cycle with possible rate softening ahead, Neville Ching, CEO of ReFlex commented at Monte Carlo RVS 2024. Ching believes that the current market conditions can be sustained, as it seems that every sector is ... Read the full article
Climate-change induced rise in claims costs unlikely to lead to negative ratings: S&P
11th September 2024
Global ratings agency S&P Global has stated that for most rated rated primary insurers, a climate change-induced rise in claims costs is unlikely to lead to negative rating actions over the medium term, even if profitability was to become more volatile. 2023 marked the fourth consecutive year that insured losses from ... Read the full article
Jan Tinus Larsen named as new CEO of Howden Norway
11th September 2024
Howden, the insurance intermediary group, has announced the appointment of Jan Tinus Larsen as Chief Executive Officer (CEO) of Howden Norway, effective October 1, 2024. Larsen, who has been Deputy CEO since 2018, will succeed Anders Kvan, ensuring a smooth transition for both employees and clients. Kvan, a founding member of Howden's ... Read the full article
Palomar Holdings hires David Sapia as EVP, Head of E&S Casualty
11th September 2024
Palomar Holdings, a specialty property insurer, has announced the key appointment of David Sapia as the Executive Vice President, Head of E&S Casualty, effective September 9th, 2024. Sapia is responsible for spearheading the development of an E&S casualty division, supporting the existing casualty operations, and identifying additional opportunities for profitable growth ... Read the full article
Markel Group launches FintechRisk+, covering fintech liability & cyber threats
11th September 2024
Markel Group Inc., an insurance company renowned for its expertise in specialised insurance and risk management, has introduced its new FintechRisk+ insurance policy. This move highlights Markel’s commitment to offering top coverage and service for fintech companies navigating a complex market. The FintechRisk+ policy provides financial services and technology liability, directors and ... Read the full article
Tokio Marine Kiln appoints Stephanie Hong as Marine Underwriter, APAC
11th September 2024
Tokio Marine Kiln (TMK), part of the global insurance group Tokio Marine, has appointed Stephanie Hong as a Marine Underwriter in Asia Pacific (APAC), based in Singapore, effective immediately. In her new role, Hong is responsible for deepening the firm’s presence in target markets across Asia. Her appointment is the latest in ... Read the full article
MultiStrat promotes James to CUO, Grealy transitions to Portfolio management role
11th September 2024
MultiStrat, a specialty reinsurance and capital advisory business, has made two senior promotions within its underwriting team, with Kier James stepping up from Vice President, Underwriting, to the role of Chief Underwriting Officer (CUO), while Patrick Grealy, Executive Vice President, transitions to the expanded role of Portfolio & Performance Management. Both ... Read the full article
Philip Cruickshank joins Coalition as Regional Underwriter for cyber risk prevention
11th September 2024
Coalition, the insurance provider focused on actively preventing digital risks, has appointed Philip Cruickshank as Regional Development Underwriter in Manchester. Stephen Wares, Coalition’s International Head of Underwriting, commented: “Philip is a major hire for our team in the North and a well-known industry figure in the region. "At Aon, where he was ... Read the full article
QBE NA expands support for Blue Forest to help prevent catastrophic wildfires
11th September 2024
QBE North America, a provider of property, casualty, and specialty insurance, has extended its support to Blue Forest, a conservation finance nonprofit focused on restoring forests, protecting watersheds, and preventing catastrophic wildfires. Until November 15, 2024, QBE’s Possibilities Fund will match dollar-for-dollar, up to $200,000, any donation of $100 or more ... Read the full article
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