Reinsurance News
Miller expands Marine team with Andrew Gordon appointment
13th September 2024
Miller, an independent specialist reinsurance and insurance broker, has announced the appointment of Andrew Gordon to its Marine team. Gordon's arrival marks another key step in expanding Miller’s Marine capabilities, following several senior hires last year, including Andreas Bisbas, Nick Lockyer, Lee Bright, and Craig Dennis. Nick Summers, Head of Direct Marine ... Read the full article
Non-marine market still sees more demand than supply for quota share capacity, Guy Carpenter
13th September 2024
Guy Carpenter, a global risk and reinsurance specialist, highlights that in the second quarter of 2024, there was a significant increase in demand for peak peril retrocession (retro) coverage and cat on direct and facultative (D&F) limit across the non-marine market. It's important to note, that demand for retro XoL coverage ... Read the full article
Hurricane Francine to have minor impact on reinsurers, seen as very manageable for P&C space: RBC
13th September 2024
Analysts at RBC Capital Markets expect Hurricane Francine to be a highly manageable loss event for the P&C insurance industry, most likely in the very low billions, with a minimal impact to reinsurers. On September 11th, Francine made landfall in southern Louisiana, the parish of Terrebonne as a Category 2 storm ... Read the full article
CoreLogic puts Hurricane Francine insured wind and storm surge losses at up to $1.5bn
13th September 2024
Hurricane Francine, the sixth named storm of the Atlantic hurricane season, made landfall over coastal Louisiana on September 11th as a Category 2 storm, and is expected to drive insurance industry wind and storm surge losses of up to $1.5 billion, according to catastrophe risk modeller CoreLogic. The Cat 2 storm ... Read the full article
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
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