Reinsurance News
BMS adds three new senior hires to energy team
5th December 2024
BMS, an independent insurance and reinsurance broker, has announced the appointment of three new senior energy industry experts to its fast-growing energy team in London: Charlotte Marsh, Jack Palmer, and Toby Hanington. Marsh, who has been appointed divisional director, is joining BMS Energy from Price Forbes and brings to her new ... Read the full article
Florida Citizens sees policy count drop below 1 million as state market stabilises
5th December 2024
With conditions in the Florida property insurance market reportedly continuing to improve, Citizens Property Insurance Corporation’s policy count has dipped below 1 million for the first time in more than two years. Florida’s property insurer of last resort has suggested that the reduced policy count is due in large part to ... Read the full article
Talanx issues its first $100m cat bond for earthquake risks in Chile
5th December 2024
Talanx Group, the parent company of Hannover Re, has issued its first ever catastrophe bond, securing multi-year protection against earthquake risks in Chile. The bond, valued at USD 100 million, was issued via Maschpark Re Ltd., a special purpose insurer established in Bermuda, in cooperation with Hannover Re. Dr Jan Wicke, Talanx ... Read the full article
Insured losses from nat cats to exceed $135bn in 2024: Swiss Re
5th December 2024
With the US enduring two major hurricanes and numerous severe thunderstorms in 2024, it has contributed to at least two-thirds of the estimated global insured losses for the year, which exceed $135 billion, according to a new report from Swiss Re. Hurricane Helene, which made landfall on the 27th of September, ... Read the full article
Economic threats still overshadow climate and cyber risks for G20 business leaders
5th December 2024
Economic threats continue to overshadow climate and cyber risks as one of the top three near-term risks for business leaders in G20 countries, according to the Executive Opinion Survey, conducted by the World Economic Forum and released by Marsh McLennan and Zurich Insurance Group. While global economic conditions show signs of ... Read the full article
Zucker to replace Peppiatt as LIIBA’s Facilities Committee chair
5th December 2024
LIIBA, the London and International Insurance Brokers’ Association, has named Price Forbes & Partners’ Greg Zucker, as the new chair of its Facilities Committee. Zucker, who currently serves as Facilitised Business Manager at Price Forbes & Partners, will be supported by Laura Lindsey, DUA Manager at McGill and Partners as deputy ... Read the full article
Ian Gibbard appointed Head of London Market at DOCOsoft
5th December 2024
DOCOsoft, a provider of claims technology solutions, has announced the appointment of Ian Gibbard as Head of London Market. With over 30 years of experience in technology-driven solutions and London Market re/insurance, Gibbard brings a proven track record in sales, strategy, and innovation. Throughout his career, he has held senior positions at ... Read the full article
Constellation’s Chilean subsidiary acquires $2.1 bn annuity portfolio from Zurich
5th December 2024
Constellation's Latin American subsidiary, Ohio National Seguros de Vida – Chile, has acquired Zurich Insurance Group's $2.1 billion annuity portfolio in Chile. Through this strategic move, previously announced in May 2023, Ohio National Seguros de Vida – Chile significantly bolstered its pensions portfolio and assets under management, reaching an impressive ... Read the full article
Pen Underwriting signs up to Flood Re’s Build Back Better Scheme
5th December 2024
Pen Underwriting, a subsidiary of Arthur J. Gallagher & Co., has announced that its specialist home insurance practice has signed up to Flood Re’s Build Back Better scheme to reduce the impact of future flooding on its customers by helping to bolster their properties’ resilience. For those unaware, Flood Re launched its ... Read the full article
EPIC strengthens Midwest presence with key appointments
5th December 2024
EPIC Insurance Brokers & Consultants, a national insurance brokerage firm, has announced three key appointments in the Midwest region, further strengthening its presence in the St. Louis, MO area. The new hires bring decades of experience across employee benefits consulting and the property and casualty (P&C) sectors, with expertise in industries ... Read the full article
Suncorp partners with Duck Creek to modernise its insurance delivery solutions
5th December 2024
Insurer Suncorp has entered a multi-year agreement with Duck Creek, a provider of software solutions for property and casualty (P&C) and general insurance, to aid in its ongoing journey of technology modernisation and process simplification. Through this partnership, Duck Creek will deliver cloud-native, low-code core insurance delivery solutions as part of ... Read the full article
Beazley Security appoints senior leaders to drive growth and expansion
5th December 2024
Beazley Security, a provider of cyber risk management and insurance solutions, has announced the appointment of two senior leaders to drive its growth and geographic expansion. Stephanie Webb will lead sales operations in the UK and Europe, while Jason Deering will focus on strengthening client relationships across the Americas, including the ... Read the full article
Reinsurance market to stabilise next year, pricing to return to ~2023 levels: JP Morgan
4th December 2024
Analysts at JP Morgan expect the reinsurance market to stabilise in 2025 with pricing at still healthy levels despite minor declines, while profitability should be supported by a continuation of firm terms and conditions as attachment points hold. With the January 1st, 2025, reinsurance renewals fast approaching, industry observers will be ... Read the full article
AXA XL appoints new Client Relationship Leaders for US East and West Zones
4th December 2024
AXA XL, the property and casualty (P&C) and specialty risk division of AXA, has appointed Russell Caminske as Client Relationship Leader (CRL) for the US East Zone and Ryan Larson as the West Zone CRL. In their roles, Caminske and Larson will serve as key contacts for AXA XL’s clients across ... Read the full article
9M’24 results show $4.1bn underwriting gain for US P&C industry: AM Best
4th December 2024
According to AM Best, the US property and casualty (P&C) industry posted a $4.1 billion net underwriting gain in the first nine months of 2024, in comparison to a $32.1 billion loss recorded in the prior year period. At the same time, the US P&C industry recorded a $130 billion net ... Read the full article
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