Reinsurance News
AM Best revises Greenlight Capital Re outlook to positive
18th October 2024
Global ratings agency AM Best has revised the outlooks for Greenlight Capital Re (GLRE), Ltd. and its subsidiaries from stable to positive, while affirming GLRE’s Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-.” The outlooks for both Greenlight Reinsurance, Ltd. and Greenlight Reinsurance Ireland, Designated Activity Company, were revised from stable ... Read the full article
DGTAL becomes first insurance-focused AI firm to adopt AI Agents
18th October 2024
DGTAL, a provider of generative AI (GenAI) solutions designed specifically for the insurance sector, has become the first insurance-focused AI company to use AI Agents as a core element of its technology platform, marking the company's most significant technological upgrade to date. Unlike AI solutions so far, which provide a single ... Read the full article
ICA says 2022 floods caused $7.7bn in incurred losses as it welcomes gov recommendations
18th October 2024
Andrew Hall, Chief Executive Officer of The Insurance Council of Australia (ICA), disclosed that four unprecedented flood events across 2022 saw more than 305,000 claims and $7.7 billion in incurred losses, including $6.3 billion from just one event. The ICA welcomed the House of Representatives Standing Committee on Economics’ report following ... Read the full article
Howden Re strengthens capabilities in DACH region with four senior hires
18th October 2024
Howden Re, the reinsurance arm of Howden, has expanded its capabilities in the DACH region with four senior appointments in Germany. Lars Nelson has been appointed Managing Director, Head of German branch at Howden Re, effective 1 January, 2025. Nelson brings two decades of experience in the reinsurance industry to his new ... Read the full article
Everen Specialty announces retirement of SVP & COO Rivers
18th October 2024
Everen Specialty Limited, a property and casualty re/insurer, has announced Jerry Rivers, Senior Vice President, and Chief Operating Officer, is to retire on March 31, 2025. Rivers expressed his gratitude, stating: “I want to thank the Board for their confidence and support throughout my tenure. It has been a pleasure to ... Read the full article
BlackFin Capital Partners successfully closes Fund IV at €1.8bn
18th October 2024
BlackFin Capital Partners, a specialist in Europe’s financial services sector, is excited to announce the successful closing of the BlackFin Financial Services Fund IV at a total of €1.8 billion. This new fund exceeds its initial target of €1.5 billion, driven by strong interest from institutional investors, with 45% from Europe, ... Read the full article
Insurance pool PAID selects Moody’s to help model and manage earthquake risk in Romania
18th October 2024
Pool-ul de Asigurare împotriva Dezastrelor Naturale (PAID), an insurance pool against natural disasters established in Romania in 2009, has chosen Moody’s to help the company model and manage earthquake risk in Romania. PAID is an insurance organisation that consists of twelve insurers forming a pool to provide Romanian homeowners with compulsory ... Read the full article
Travelers estimates up to $175m in hurricane Milton losses
18th October 2024
Between $75 and $175 million of Hurricane Milton-related pre-tax losses, net of reinsurance, are estimated to impact Travelers' future natural catastrophe losses, the US insurer revealed following the announcement of its financial results for the third quarter of 2024. These figures did not impact Travelers Q3 results and are preliminary estimates ... Read the full article
Hurricane Milton unlikely to shift reinsurance market dynamics, says J.P. Morgan
18th October 2024
According to J.P. Morgan analysts, hurricane Milton is unlikely to change the dynamics of the reinsurance market heading into 2025, based on current anticipated loss levels. Hurricane Milton approached Florida and made landfall near Siesta Key on October 9, 2024, as a Category 3 storm. Loss estimates range from $20 billion ... Read the full article
New cat model brings ‘step change’ to flood risk management: Fathom’s Jones
18th October 2024
Covering all major flood perils globally with a comprehensive representation of uncertainty and conditioned to the current climate, Fathom’s new Global Flood Cat model gives the industry a "step change" in its ability to manage flood risk, according to the firm's Chief Product Officer, Dr Matthew Jones. Built upon Fathom’s Global ... Read the full article
H1’24 sees 134 buy-ins completed with a total value of £15.2bn, Hymans Robertson
18th October 2024
The first half of 2024 saw 134 buy-ins completed, with a total value of £15.2 billion, making it the highest number of transactions ever recorded in a six-month period, according to Hymans Robertson, the independent pensions and financial services consultancy. Of the 134 transactions in H1'24, Hymans Robertson's risk transfer team ... Read the full article
Lockton Re appoints ex-Marsh veteran, Srikanta Nandy as Chief Platform Officer
18th October 2024
Lockton Re, the reinsurance arm of the independent insurance broker, has appointed Srikanta Nandy as Chief Platform Officer, based in New York. Nandy is a 25-year insurance veteran with deep expertise in Global Platform Delivery, Enterprise Data Management, and Placement Data Analytics. Prior to this, he spent more than 11 years at ... Read the full article
AIR Parametric launches new dairy product with Guy Carpenter & LM Re
18th October 2024
In collaboration with Guy Carpenter and Liberty Mutual Reinsurance, AIR Parametric has launched Milkshake, a new parametric insurance product designed to safeguard US dairy producers from heat stress on their livestock herds. According to Air Parametric, Milkshake’s proprietary design was built in consultation with dairy industry leaders and the specialised agents ... Read the full article
QBE report highlights need for greater awareness of additional services in cyber policies
18th October 2024
A recent report by QBE North America, in collaboration with Zywave, revealed that many businesses are overlooking additional risk management services included in their cyber insurance policies, underscoring the need for greater awareness to enhance cyber resilience. The report surveyed risk professionals and insurance buyers from large organisations, with nearly half ... Read the full article
AXA XL Re hires Swiss Re’s Schiffer as CEO of North America, Reinsurance
18th October 2024
AXA XL Reinsurance has appointed Swiss Re's Greg Schiffer as Chief Executive Officer, North America, Reinsurance, effective 11 November 2024. Schiffer is a seasoned executive with extensive expertise in senior-level reinsurance leadership, covering everything from strategic planning and business operations to product development, client marketing, and talent management At Swiss Re, Schiffer ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
