Reinsurance News
Data and tech will distinguish top performers, says Zurich’s Signorelli
29th October 2024
During re/insurance broker Aon’s Profitable Growth Panel, Sierra Signorelli, CEO of Commercial Insurance at Zurich, emphasised that the use of data and technology is really going to distinguish top performers in the coming years. She noted that leveraging advancements in data and technology enables better decision-making, facilitates more informed conversations about ... Read the full article
Fitch Ratings upgrades Generali’s outlook to positive
29th October 2024
Fitch Ratings has upgraded the Outlook for Assicurazioni Generali S.p.A. (Generali) and its core subsidiaries to Positive from Stable, while affirming the Insurer Financial Strength (IFS) Rating at ‘A+’. Fitch has also affirmed Generali’s Long-Term Issuer Default Rating (IDR) at ‘A’. The Positive Outlook follows Fitch’s recent upgrade of Italy’s sovereign Outlook ... Read the full article
VIG establishes specialist cyber security firm, CyRiSo
29th October 2024
Vienna Insurance Group has established CyRiSo, a cyber security firm aimed at small and medium-sized companies. Christiana Bruckner and Michael Ganzwohl have been appointed to manage CyRiSo, which aims to provide clients with comprehensive support to reduce cyber risks and prevent and resolve any damage caused by cyber attacks. Bruckner holds experience ... Read the full article
BMS welcomes Heath Jose to global facultative practice in Asia
29th October 2024
BMS Group (BMS), an independent specialist re/insurance broker, has announced Heath Jose has joined BMS Re as Business Development Lead, a Singapore-based role, as part of the company’s growing global facultative practice in Asia In his new position, Jose will be responsible for developing the business in conjunction with teams based ... Read the full article
WTW launches ResQ Machine-led Reserving for enhanced P&C accuracy and efficiency
29th October 2024
WTW, an advisory, broking, and solutions firm, has introduced ResQ Machine-led Reserving—a transformative technology designed to help insurers and reinsurers improve accuracy and efficiency in property and casualty (P&C) reserving. ResQ Machine-led Reserving leverages proprietary algorithms to enhance the core reserving methods in ResQ, WTW’s advanced loss-reserving solution, delivering fully automated, ... Read the full article
Supercede names Deeva Chamdal as Technical Reinsurance Consultant
29th October 2024
Reinsurance trading platform Supercede has announced the appointment of Deeva Chamdal as Technical Reinsurance Consultant. In her role, Chamdal will be based in London and report to Jess McCausland, Head of Client Success. Tom Spier, Chief Commercial Officer at Supercede, commented “Supercede is experiencing exciting growth, with the team energised by our ... Read the full article
Lockton enters Indian market with acquisition of Arihant Insurance Broking Services
29th October 2024
The Insurance Regulatory and Development Authority of India (IRDAI) has granted independent insurance broker Lockton regulatory approval for the acquisition of Arihant Insurance Broking Services Limited. Lockton’s strategic expansion into the Indian market aligns with its broader vision to enhance its footprint in key emerging markets, aligning with the company's commitment ... Read the full article
MIJS partners with I-RE to bring commercial P&C insurance to mid-market companies
29th October 2024
MIJS Captive Management, LLC has partnered with International Re (I-RE), a specialist captive insurance and reinsurance MGA, to help MIJS’s mid-market clients take on part of their own commercial property and casualty (P&C) insurance risk in a standalone captive. MIJS Captive Management, LLC, the captive management arm of legal services provider ... Read the full article
MAPFRE RE sees 9M’24 premiums hit €6.3bn as net result climbs 9.3%
29th October 2024
MAPFRE RE, the reinsurance arm of Madrid-headquartered insurer MAPFRE, has reported that premiums reached almost €6.3 billion in the first nine months of 2024, up 3.5% from last year, while the net result hit €207 million. MAPFRE RE's premium figure in the first 9M includes the reinsurance business, which contributes more ... Read the full article
WTW establishes new insurance brokerage service in Japan
29th October 2024
WTW, a global advisory, broking, and solutions company has launched WTW Broker Japan Co., Ltd., an insurance brokerage service which expands the company's Corporate Risk & Broking (CRB) business in Japan. The new retail brokerage will offer insurance solutions to commercial clients and also wholesale facultative reinsurance placement services to partner ... Read the full article
Novatae Risk names John Catrabone as Vice President of Carrier Relations
29th October 2024
Novatae Risk Group, a wholesale insurance brokerage, managing general agency, and program manager, has appointed John Catrabone as Vice President of Carrier Relations, based out of Ohio, US. In this role, Catrabone will manage and grow carrier relationships along with procuring new strategic alliances and partnerships to enhance Novatae's overall product ... Read the full article
Hiscox reports two-thirds of organisations face increased cyber incidents
29th October 2024
Specialist insurer Hiscox recently released findings from their annual Cyber Readiness Report, which reveals that two-thirds of organisations (67% globally and 70% in the UK) have faced more cyber incidents in the past year compared to the previous year. As cyber attacks continue to increase, the reputation and trust in businesses ... Read the full article
Insuritas adds Disaster Insurance to its platform with Recoop partnership
29th October 2024
Insuritas, an US embedded insurance provider for financial institutions, has partnered with Recoop Disaster Insurance to add Disaster Insurance into its platform. Through this strategic partnership, Recoop's multi-peril disaster insurance product will be integrated into Insuritas' BUNDLE platform. This integration will offer financial institution customers of Insuritas with expanded opportunities to ... Read the full article
Markel hires MarketScout’s Furmanek as Senior Underwriter, Fine Art, NA
29th October 2024
Markel, the insurance division of Markel Group, has appointed Dena Furmanek as Senior Underwriter – Fine Art, North America, with immediate effect. Based in the Chicago area, Furmanek will report to Kyle McGrath, Head of US Fine Art. In her new role, Furmanek will be expected to support the profitable expansion of Markel’s ... Read the full article
French insurers’ ratings unaffected by France’s negative outlook revision, says Fitch
29th October 2024
The recent negative outlook revision for France does not impact the ratings of French insurers, except for CNP Assurances SA, which has also had its outlook revised to negative, according to Fitch Ratings. CNP's revised outlook aligns with a similar action taken for La Banque Postale S.A. (LBP), as CNP is ... Read the full article
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