Reinsurance News
AM Best upgrades Dunav-Re’s ratings, reflecting strong financial performance
8th August 2024
AM Best, the credit rating agency, has upgraded the ratings for Serbian reinsurance company Dunav-Re a.d.o, raising its Financial Strength Rating from B+ (Good) to B++ (Good) and its Long-Term Issuer Credit Rating from “bbb-” (Good) to “bbb” (Good), with the outlook adjusted from positive to stable. These upgraded ratings are ... Read the full article
Assurant sees net income increase 21% in Q2 2024
8th August 2024
US specialty insurance group Assurant has reported a GAAP net income of $188.7 million for the second quarter of 2024, representing a 21% increase compared to the $156.3 million reported in the same period last year. According to the company, this increase was mainly due to a lower after-tax loss from ... Read the full article
Lancashire Holdings appoints Linda Ventresca as Non-Exec Director
8th August 2024
Bermuda-based Lancashire Holdings Limited has announced the appointment of Linda Ventresca, former Head of Digital at AXIS Capital, as a Non-Executive Director. An experienced senior leader in the insurance industry, Ventresca brings first-hand knowledge of the US and international insurance and reinsurance markets to her new position with Lancashire. She worked at ... Read the full article
CINICO launches new home insurance policy with Parametric Coverage
8th August 2024
The Cayman Islands National Insurance Company (CINICO) has announced it is now offering home insurance policy with Parametric Coverage. This parametric solution was created to pay out pre-agreed amounts automatically to cover incidental expenses, without the need to submit a claim in the event of a hurricane of a Category 3 ... Read the full article
Howden Re teams with Temblor to enhance Turkish earthquake risk & impact assessment
8th August 2024
Howden Re, the reinsurance and risk advisory arm of Howden, has entered into a partnership with Temblor Inc., the catastrophe modelling company that specialises in seismic hazard and risk assessment, which will see Temblor provide Howden Re with access to their SiteAmp model, providing critical data-driven insights on both the ... Read the full article
Munich Re CEO anticipates strong 1/1 2025 reinsurance renewals
8th August 2024
Global reinsurer Munich Re is confident that favourable market conditions will persist at the January 1st, 2025, renewals, as the firm sees continued strong demand from buyers and discipline from sellers, according to CEO, Joachim Wenning. “Looking at the factors that drive reinsurance rates, I cannot detect anything material that would ... Read the full article
Global Indemnity’s net income increases 83% in H1’24
8th August 2024
Global Indemnity Group (GBLI) has released its results for the first half of 2024, which includes an 83% increase in net income available to shareholders of $21.2 million, compared to $11.6 million from the same period in 2023. GBLI's operating income for H1'24 also witnessed a notable increase, as it climbed ... Read the full article
Everest Insurance names Brian Zink Head of Specialty Underwriters and US Financial Lines
8th August 2024
Everest Group, Ltd., a provider of reinsurance and insurance solutions, has announced that its insurance division, Everest Insurance, has appointed Brian Zink as Senior Vice President, Head of Everest Specialty Underwriters (ESU) and US Financial Lines. Zink will report directly to Bill Hazelton, Executive Vice President of Everest Insurance and President ... Read the full article
Porch Group sees $110.8m of revenues, files updated application to form Reciprocal
8th August 2024
Porch Group, a homeowners insurance and vertical software platform, has reported total revenue of $110.8 million, which increased 12% compared to the same period the prior year, with an improved net loss of $64.3 million in the second quarter of 2024. In Q2 2024 the firm’s net loss grew compared to ... Read the full article
Nexus appoints Seline Low as Deputy Head of A&H Reinsurance, Asia
8th August 2024
Nexus Underwriting, a specialty Managing General Agent (MGA), has announced the appointment of Seline Low as the new Deputy Head of Accident & Health (A&H) Reinsurance for Asia. Based in Singapore, Low will work alongside Justin Yeo, the Head of A&H Reinsurance, to develop Nexus' presence in Asia’s Accident and Health ... Read the full article
Liberty Mutual’s net income climbs to $717m in Q2
8th August 2024
Liberty Mutual Holding Company Inc. (LMHC) has posted a net income of $717 million for the second quarter of 2024, up substantially from the net loss attributable to LMHC of $585 million in the same period in 2023. At the same time, the organisation posted a 3.3% decrease in net written ... Read the full article
SiriusPoint CEO hails another quarter of positive underwriting performance
8th August 2024
Bermuda-based re/insurer SiriusPoint recently posted its seventh consecutive quarter of positive underwriting results in Q2 2024, partly attributable to new managing general agent (MGA) partnerships and the expansion of existing ones, according to CEO Scott Egan. In an interview with Reinsurance News, Egan discussed the firm's results in both the second ... Read the full article
Hamilton records all-time low CoR of 84.4% in Q2’24
8th August 2024
Bermuda-based re/insurer Hamilton Insurance Group has reported an all-time low combined ratio of 84.4% in the second quarter of 2024 compared to 89.5% in Q2 2023, as underwriting income improved from $34.9 million to $65.3 million. The firm’s gross premiums written significantly increased by 19.5% in the second quarter to $603.3 ... Read the full article
Embroker names Andrew Lea as CIO, Kristy Malm promoted to COO
8th August 2024
Digital insurance company Embroker has appointed Andrew (Andy) Lea as Chief Insurance Officer (CIO) and promoted Kristy Malm as Chief Operating Officer (COO). The firm stated these appointments follow a series of significant milestones for Embroker, including two major product announcements and the launch of a new distribution channel for broker ... Read the full article
Zurich sees best-ever H1 operating profit of $4bn
8th August 2024
Zurich has announced that its group business operating profit (BOP) climbed to a record $4 billion in H1 of 2024, marking an increase of 7% compared to the same period of 2023. The firm's net income attributable to shareholders also increased in H1 of 2024, rising 21% to $3 billion. Zurich's P&C ... Read the full article
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