Reinsurance News
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
The Geneva Association announces two new leadership appointments
4th December 2024
The Geneva Association has announced the appointment of Darren Pain as Director of Research and Dennis Noordhoek as Director of External Stakeholder Engagement, both effective 1 January 2025. Pain, who currently serves as Director Cyber and Evolving Liability, will be succeeding Kai-Uwe Schanz. In his new role, he will oversee the organisation’s ... Read the full article
ZestyAI partners with AFR to improve property risk assessment
4th December 2024
ZestyAI, a provider of climate and property risk analytics powered by AI, has partnered with American Farmers & Ranchers Mutual Insurance Company (AFR), an insurance provider in Oklahoma's rural sector for over a century. This collaboration utilises ZestyAI’s aerial imagery and risk modelling solutions to improve AFR’s property risk assessment and ... Read the full article
Lancashire Insurance U.S. appoints Flude as CEO, Jones to become CUO
4th December 2024
Bermuda-based Lancashire Holdings Limited has appointed James Flude as Chief Executive Officer (CEO) of Lancashire Insurance U.S., succeeding Huw Jones, who has been appointed to the new role of Chief Underwriting Officer (CUO) for Lancashire U.S. Flude, who will relocate to the U.S., currently serves as Group CUO: Insurance. He joined ... Read the full article
AM Best revises outlook for US personal lines insurance to stable
4th December 2024
Global credit ratings agency AM Best has revised its outlook for the US personal lines insurance segment to stable from negative, in line with a corresponding change in the personal auto outlook to stable from negative. According to the agency, the shift in the personal lines segment outlook is owed to ... Read the full article
Q3’24 sees record value in buy-in & buy-out transactions of £20bn: Hymans Robertson
4th December 2024
Hymans Robertson has reported that the total value of buy-in and buy-out deals completed in the third quarter of 2024 reached nearly £20 billion, marking the highest volume ever recorded for this period in any calendar year. This record quarter follows a strong first half of 2024, during which 134 ... Read the full article
Zurich Resilience Solutions and GoImpact partner to address climate risks in Asia Pacific
4th December 2024
Zurich Resilience Solutions (ZRS), the commercial risk advisory unit of Zurich Insurance Group, has partnered with GoImpact Capital Partners, a sustainability-focused organisation, to assist businesses in the Asia Pacific region in navigating the growing challenges of climate change. This collaboration combines ZRS’s advanced climate risk analysis, proprietary climate and financial loss ... Read the full article
Italian insurance sector set to surpass €100bn in life premiums by 2025, says Morningstar DBRS
4th December 2024
According to Morningstar DBRS, an independent provider of credit ratings and financial analysis, the Italian insurance sector is on track to sustain its strong performance into 2025. Key drivers include a significant recovery in life insurance premiums, steady growth in non-life segments, and higher investment returns. However, challenges such as elevated life ... Read the full article
Fortegra announces launch of new UK subsidiary
4th December 2024
The Prudential Regulation Authority (PRA) has granted Fortegra, a global specialty insurer and subsidiary of Tiptree, approval to establish Fortegra Insurance Company UK, its new subsidiary in the United Kingdom. Fortegra has established a strong reputation in the Managing General Agents (MGAs) and Managing General Underwriters (MGUs) market. This success is ... Read the full article
QBE hires Claire Lill as US Casualty Portfolio Manager
4th December 2024
Australian insurer QBE has announced the appointment of Claire Lill as Portfolio Manager to lead and strengthen the firm’s US Casualty offering. Lill brings to her new role over three decades of London Market Casualty experience and is joining QBE’s International Markets division from Apollo Syndicate 1969, where she held the ... Read the full article
Industry leader Malcolm Cutts-Watson to retire after five-decade career
4th December 2024
After overseeing the merger of RISCS with Cutts-Watson Consulting (RISCS CWC) and serving as Chair for two years, Malcolm Cutts-Watson is stepping down at the end of December to retire following an illustrious five-decade career. Malcolm Cutts-Watson, a seasoned captive practitioner, director, and consultant, has amassed extensive experience working across various ... Read the full article
Generali agrees to sell Philippines business to Insular Life
4th December 2024
Italian insurer Generali has reached an agreement for the sale of its 100% stake in Generali Life Assurance Philippines, Inc. to The Insular Life Assurance Company, Ltd. According to Generali, the agreement is aligned with its strategic plan to drive sustainable growth, enhance its earnings profile, and optimise its geographical footprint. The ... Read the full article
Mortgage insurer Enact enters into two quota share reinsurance agreements
4th December 2024
Enact Mortgage Insurance Corporation, the flagship legal entity of mortgage insurer Enact Holdings, Inc., has entered into two quota share reinsurance agreements with a broad panel of highly rated reinsurers, subject to certain conditions. Under these agreements, Enact will cede approximately 27% of a portion of expected new insurance written from ... Read the full article
Lockton Re expands Capital Advisory team with addition of Aon’s Sabrina Veau
4th December 2024
Lockton Re, the reinsurance arm of the independent insurance broker, has appointed Sabrina Veau as a Senior Broker in its growing Capital Advisory team, based in London. She was most recently focused on the Strategic Advisory arm of the Capital Advisory team at Aon, where she had been for 22 years. ... Read the full article
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