Reinsurance News
HCI expects to pay up to $750m to policyholders from hurricanes Debby, Helene & Milton
17th October 2024
Insurer HCI Group expects to pay between $600 million and $750 million to policyholders across all three events, with net retained losses for the company far lower at around $185 million as a result of its comprehensive reinsurance arrangements. The property and casualty insurer has provided an update on the hurricane ... Read the full article
Starwind Specialty hires Kirby to lead newly launched Political Violence & Terrorism program
17th October 2024
Starwind Specialty Insurance Services, has launched a new Political Violence and Terrorism (PVT) program - Starwind PVT, and has appointed Chris Kirby to lead as Program President. Launched on October 1, the PVT program is focused on providing coverage for physical damage, business interruption and liability coverage for terrorism, strikes, riots ... Read the full article
Asia’s growing senior population presents opportunities for insurers: RGA
17th October 2024
Growth opportunities are emerging for insurers as demand for private coverage rises among Asia's growing senior population, according to a recent report by Reinsurance Group of America, Incorporated (RGA). The report is based on a survey of 1,636 respondents aged 55 to 80 with minor health issues across China, Hong Kong, ... Read the full article
Resilience adds ex-CrowdStrike executive, Matthew Polly as Chief Revenue Officer
17th October 2024
Cyber risk solutions company Resilience has appointed industry veteran and former CrowdStrike executive, Matthew Polly as Chief Revenue Officer (CRO). As Resilience’s primary revenue strategist, Polly will help accelerate all existing and future revenue streams. He will work across Resilience’s executive and senior leadership team to align, integrate, and scale the ... Read the full article
Coalition helps UK policyholders recover stolen funds from cyberattacks with new service
17th October 2024
Coalition, an active insurer focused on preventing digital risks, has launched a service dedicated to recovering funds stolen by cyber attackers in the UK. Designed to intercept funds in the banking system before an attacker can move them, the cyber insurer’s new ‘clawback’ service has recently proven a success with the ... Read the full article
Applied Underwriters Aerospace expands leadership amid market shifts
17th October 2024
Applied Underwriters Aerospace, a division of Applied Underwriters specialising in insurance and risk management for the aerospace and space exploration industries, has expanded its role as the space insurance market experiences significant changes. These shifts, driven by geopolitical factors and technological innovations like those introduced by Elon Musk, position the company ... Read the full article
Rising uncertainty drives demand for re/insurance in Europe: Swiss Re
16th October 2024
Demand for re/insurance is up as the world experiences increasing uncertainty, and this volatile environment and elevated risk landscape creates both challenges and opportunities for insurers and reinsurers in Europe, said Swiss Re’s Leopoldo Camara ahead of this year's Baden-Baden. The current uncertain environment increases the need for dependable risk assessment, ... Read the full article
Miller names Clare Lebecq as Chief Operating Officer
16th October 2024
Independent specialist insurance and reinsurance broker Miller has announced the appointment of Clare Lebecq as Chief Operating Officer, effective 2 December, 2024. In her new role, Lebecq will leverage her extensive experience in both retail and wholesale markets to support Miller's expanding operational capabilities. James Hands, CEO of Miller, stated, “As we ... Read the full article
AXA Climate renews parametric partnership with AXA México for mangroves protection
16th October 2024
AXA Climate, an arm of the global insurance group AXA, has renewed its partnership with AXA México and ClimateSeed this year to continue supporting a vital mangrove protection project. This collaboration aims to provide a parametric insurance product designed to safeguard both the community of fishermen and the vital ecosystems in ... Read the full article
MS Amlin enhances fraud detection capabilities through Synectics partnership
16th October 2024
The European unit of MS Amlin has expanded its partnership with data insight specialist Synectics in a strategic move that will enhance fraud detection and prevention measures at the quote, policy, and claims stages, across multiple lines of business. The MS Amlin unit, MS Amlin Insurance, which has previously worked with ... Read the full article
Marc Van der Veer named Optio Group MD, Europe
16th October 2024
Optio Group, a specialty managing general agent (MGA) has announced the appointment of Marc Van der Veer to the newly created role of managing director, Europe, effective immediately. In his newly assumed position, Van der Veer will be tasked with the responsibility of initiating and coordinating further acquisitions throughout Europe, aligning ... Read the full article
MS Amlin’s Phoenix sidecar a stable investment opportunity: William Ho
16th October 2024
Chief Executive Officer (CEO) of MS Amlin Asia Pacific, William Ho, in a recent video interview with our insurance-linked securities (ILS) focused sister publication, Artemis, discussed the re/insurer's series of Phoenix sidecar transactions. After renewing a quota share arrangement via reinsurance sidecar vehicle Phoenix 2 Re Pte. Ltd., ... Read the full article
DeNexus raises $17.5m in Series A funding, with backing from AXA XL
16th October 2024
DeNexus, a provider of cyber risk modelling solutions, has raised $17.5 million in a Series A funding round led by Punja Global Ventures with participation from AXA XL, Prosegur/SegTech and HCS Capital. From what Reinsurance News understands, DeNexus will use the funding to boost its growth and expand its product offerings ... Read the full article
McLarens names Alistair Jacob Head of London International
16th October 2024
McLarens, a claims services provider, has appointed Alistair Jacob to the newly established position of Head of London International. Based in the Lime Street office in the City of London, Jacob will report to Steven Wallace, Managing Director for EMEA, and will focus on enhancing McLarens’ presence in the Lloyd’s and ... Read the full article
Climate-related disclosure data can help reveal insurers’ business-critical risk insights: Quiroga, Swiss Re
16th October 2024
Insurance and reinsurance companies can use climate-related disclosure data to reveal business-critical risk insights, point to growth opportunities and lift the quality of their underwriting, according to Swiss Re’s Paloma Quiroga. In a recent interview with Reinsurance News, Quiroga, Head Risk Consulting & Analytics explained that insurers face an array of ... Read the full article
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