Reinsurance News
Re/insurance sector to benefit from ICEYE’s sharpened imaging mode
13th March 2024
ICEYE, a provider of natural catastrophe solutions and insights, has increased its capabilities with the introduction of its Dwell Fine imaging mode, which builds on the release of Spot Fine, launched last year. Dwell Fine is unique in commercial SAR satellite imagery; using its 50-centimetre resolution it helps to deepen the ... Read the full article
Alistair Brannan appointed EY’s UK Head of Life and Pensions
13th March 2024
EY has appointed Alistair Brannan as its UK Head of Life and Pensions. In addition to his new role, he will also join the organisation's UK insurance leadership team and remains Client and Markets Leader for EY’s financial services business in Scotland. Based in Edinburgh, Brannan has over 19 years of ... Read the full article
Nord Stream sues UK insurers over gas pipeline explosions
13th March 2024
Nord Stream is reportedly in pursuit of more than €400 million from UK insurance companies, including Lloyd's of London, for refusing to cover the 2022 explosions that ruptured pipelines designed to transport Russian gas to Germany. The Switzerland-based firm has named Lloyd's Insurance Company and Arch Insurance as defendants in its ... Read the full article
Arch Reinsurance Group announces senior promotions naming Halgan President & CUO
13th March 2024
Arch Reinsurance Group has announced the promotion of three senior executives, Jerome Halgan, Vanessa Hardy Pickering and Lester Pun, all effective April 1, 2024. Halgan, who has been with the company since 2009, will be taking over the role of President and Chief Underwriting Officer of Arch Reinsurance Group, in addition ... Read the full article
DeNexus appoints industry veteran Rosa Kariger to its Board of Directors
13th March 2024
DeNexus, a provider of cyber risk modelling solutions, has recently appointed industry veteran Rosa Kariger to its Board of Directors, strengthening the company's commitment to bridging the gap between enterprises managing risk and insurers providing coverage. Kariger will facilitate DeNexus' long-term growth strategy focused on establishing the global standard for quantifying ... Read the full article
Marsh Specialty forecasts economic divergence amidst geopolitical uncertainty
13th March 2024
Marsh Specialty's 2024 Political Risk Report has highlighted how long-term uncertainty is stemming from macroeconomic competition and geopolitical insecurity, which is set to create even greater economic divergence between sectors and economies this year. According to the report, a record number of voters heading to the polls this year are likely ... Read the full article
David Wynn joins DWF as Head of Casualty
13th March 2024
DWF, a provider of integrated legal and business services, is expanding its global insurance practice with the appointment of disease and casualty expert David Wynn as a new Partner. Taking over the role of Head of Casualty, Wynn will be based at DWF's Manchester office, he will also be serving as ... Read the full article
HDI Global Specialty hires Ritchie as Head of Single Risk, Australia & NZ
13th March 2024
HDI Global Specialty SE - Australia (HDI) has hired Paula Ritchie as Head of Single Risk - Australia and New Zealand, effective March 11, 2024. She joins the organisation with over 25 years of industry experience. She joins HDI following a previous stint at Arch Insurance Australia, where she served as Underwriting ... Read the full article
Brit launches new $50m Lloyd’s Consortium
13th March 2024
Brit Ltd has launched Brit Cyber First50, a new $50m Primary Brit-led and managed Lloyd’s Consortium developed to improve the efficiency of cyber placement for large institutional clients with revenues of $10 billion or more. According to the firm, as cyber losses increase in both frequency and size, this initiative will ... Read the full article
Swiss Re confirms proposal to elect Jacques de Vaucleroy as Chairman at 2024 AGM
13th March 2024
Swiss Re has confirmed that at its 2024 Annual General Meeting of shareholders (AGM), its Board will propose to re-elect Jacques de Vaucleroy as a member of the Board of Directors and elect him as the new Chairman of the Board of Directors for a one-year term. Jacques de Vaucleroy ... Read the full article
IGI reports improved combined ratio as Q4’23 underwriting income rises to $43.5m
13th March 2024
International General Insurance Holdings Ltd. (IGI) has reported a 10.3 percentage point improvement in its combined ratio for Q4 2023 to 81.8% and growth in underwriting income to $43.5 million, as net income increased to $33 million in the period. For the quarter, gross written premiums (GWP) were $164.9 million, an ... Read the full article
Guidewire to help Encova Insurance optimise business operations
13th March 2024
As part of its digital transformation journey, property and casualty insurer Encova Insurance has selected Guidewire InsuranceSuite on Guidewire Cloud to power its core business and simplify its IT operations. Encova, a Guidewire customer since 2014, aims to migrate its InsuranceSuite from a self-managed environment onto Guidewire Cloud simultaneously for all ... Read the full article
Aspida partners with Flourish for enhanced annuity distribution
13th March 2024
Aspida Life Insurance Company (Aspida), a life insurance and annuity company, has recently partnered with Flourish, a financial products provider, to distribute the Aspida Advisory Multi-Year Guaranteed Annuity (MYGA). The Aspida Advisory MYGA offers a secure investment solution with guaranteed growth, unaffected by market fluctuations. This single premium deferred fixed multi-year ... Read the full article
Starr Insurance unveils new division to serve wholesale market
13th March 2024
Starr Insurance is set to launch Twin Maples Specialty, a division of Starr Specialty Lines Insurance Agency, LLC, based in Alpharetta, GA, that will initially offer professional liability and financial lines products. Twin Maples, which is expected to enter the market in the next few months, will focus on business placed ... Read the full article
Arete Adjusting establishes operations in North America
13th March 2024
Arete Adjusting, LLC (Arete), a Third Party Administrator (TPA), and member company of insurance ecosystem +8 Partners, has launched operations the North American claims market. By utilising people, technology, and its fellow +8 member companies, Arete plans to provide comprehensive and insightful claims management service to the cargo and logistics insurance ... Read the full article