Reinsurance News
Aspen appoints Peter Spires as Group Head of Compliance & Deputy Group General Counsel
30th August 2024
Aspen, a specialty insurance and reinsurance company, has recently announced the appointment of Peter Spires as Group Head of Compliance & Deputy Group General Counsel. In his new role, Spires will report directly to David Amaro, Group General Counsel at Aspen. Amaro expressed enthusiasm for Spires’ appointment, stating, "I'm thrilled that Peter ... Read the full article
China Re see’s high net profit in H1’24, reports successful issuance of new capital bonds
30th August 2024
China Reinsurance (Group) Corporation (China Re), has released its financial results for the first half of 2024, which includes a net profit of RMB 5.921 million, up substantially from RMB 2.067 million in the same period last year. At the same time, the organisation's total operating income grew to RMB 60.686 ... Read the full article
Helios Underwriting appoints Katharine Wade as Non-Executive Director
30th August 2024
Lloyd’s-focused investment vehicle Helios Underwriting has appointed Katharine Wade as an Independent Non-Executive Director to its Board, effective immediately. Wade brings over 29 years of experience in financial markets, having served in Board and management-level roles within the UK and internationally. Currently, she serves as Chief Financial Officer at Aegis, the top ... Read the full article
Global reinsurers’ show increasing appetite for nat cat risks, says S&P
30th August 2024
S&P Global Ratings reports that global reinsurers are increasingly interested in natural catastrophe risks, driven by recent pricing corrections and higher attachment points, and are anticipated to deploy more capital in this market over the next two years. Improved underwriting margins, strong investment returns, and solid capitalisation are expected to further ... Read the full article
AM Best downgrades Seguros SURA’s ratings with stable outlook
30th August 2024
AM Best has downgraded Seguros Suramericana S.A. (Sura)'s Financial Strength Rating from A to A- and its Long-Term Issuer Credit Rating from "a" to “a-”, the outlook for these ratings has been revised from negative to stable. These downgrades were prompted by changes in Sura’s underwriting performance, which have challenged the ... Read the full article
Agile expands its offering by establishing presence in New Zealand
30th August 2024
Australian insurance group Agile Underwriting Services has established a presence in New Zealand, reportedly the first of its kind for a Lloyd’s syndicate, enhancing its capability to service business in the country in its general aviation, accident and health, casualty and professional lines. According to the firm, the establishment of Agile ... Read the full article
Howden Capital Markets & Advisory adds Des Potter as an Independent Non-Exec, UK
30th August 2024
Howden Capital Markets & Advisory, the re/insurance broker's capital markets and insurance-linked securities (ILS) arm, has strengthened its team by appointing Des Potter as an Independent Non-Executive Director in the UK. Potter has over four decades of experience in reinsurance broking, investment banking, and corporate finance having served in roles at ... Read the full article
Geographical diversification key to reducing portfolio risk of cloud outage events: Aon, Parametrix
30th August 2024
Geographical diversification is key to reducing the portfolio risk of systemic cloud outage events, according to a joint report from global insurance and reinsurance broker Aon and Parametrix, a cloud monitoring, modelling, and insurance services provider. Aon and Parametrix's report emphasised that the July 2024 CrowdStrike Falcon/Microsoft Windows outage served as ... Read the full article
RiverStone Intl. hires James Insley as Deputy Group & UK CFO
30th August 2024
RiverStone International, a provider of legacy solutions, has appointed industry veteran James Insley as its new Deputy Group & UK Chief Financial Officer (CFO). In his new role, Insley will work closely with RiverStone International's Group and International Finance teams, as well as the company's Financial Planning and Strategy team, to ... Read the full article
US firms see spike in cybersecurity services as data breaches increase: ISG
30th August 2024
Recent analysis by Information Services Group (ISG), a global technology research and advisory firm, suggests that US enterprises are investing strategically in cybersecurity services as data breaches continue to rise. The firm's 2024 ISG Provider Lens Cybersecurity — Solutions and Services report discloses that the most affected industries are healthcare and ... Read the full article
Cayman Islands’ re/insurance industry continues to thrive: CIMA
30th August 2024
The Cayman Islands Monetary Authority (CIMA) has released the licensing statistics for the insurance sector, granting 12 new international insurer licenses in the second quarter of 2024. CIMA issued three B(i)s, one B(ii), six B(iii)s plus a class C and a class D reinsurer. Additionally, two new insurance managers were also ... Read the full article
Enstar completes ADC agreement with IAG for long-tail reserves coverage
29th August 2024
Enstar has completed a transaction between its wholly-owned subsidiary, Cavello Bay Reinsurance Limited, and Insurance Australia Limited, on behalf of IAG, to provide adverse development cover (ADC) for IAG’s long-tail reserves. IAG announced this transaction in June 2024, alongside a five-year natural perils reinsurance agreement with National Indemnity Company and ... Read the full article
Gallagher hires Aon’s Bruce Dettling to lead global mining and heavy industry practice
29th August 2024
Bruce Dettling has been appointed to the role of Global Head of Mining and Heavy Industry for Gallagher, where he will be responsible for leading the firm's global specialist practice with teams based in the UK, Latin America, Canada and Australia. Dettling, who is set to join Gallagher in November, will ... Read the full article
Gavin Hamilton named Director of WTW’s International Property team in London
29th August 2024
WTW, an advisory, broking, and solutions company, has appointed Gavin Hamilton as a Director on its International Property team in London. With over 30 years of industry experience, Hamilton previously led the European Wholesale and South African Property sectors at Miller Insurance Services LLP. Hamilton added: “I am delighted to be joining ... Read the full article
Poll suggests parametrics rank as most in-demand alternative risk solution
29th August 2024
As alternative risk solutions gain traction, parametric insurance is expected to be the most in-demand offering, according to a recent poll by Reinsurance News. The poll shows that parametrics lead significantly with 40% of the vote, far surpassing structured solutions at 25%, captives at 21%, and complex risk offerings at 14%. The ... Read the full article
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