Reinsurance News
JP Morgan expects the reinsurance market to stabilise heading into 2025
3rd October 2024
A new note from JP Morgan on the European reinsurance market following RVS 2024, says that with the industry now producing strong returns, analysts are expecting that 2025 will lead to a stabilisation of the reinsurance market. Analysts noted that they heard a relatively consistent message on pricing from market participants, ranging ... Read the full article
McGriff acquires Amity Benefits to enhance employee benefits practice
3rd October 2024
McGriff, a US-based retail insurance broker, has announced its acquisition of Amity Benefits, a full-service retail employee benefits brokerage located in Tampa, Florida. Mike Breedlove, National Sales and Growth Leader at McGriff, expressed enthusiasm about the acquisition, stating, “We’re thrilled to welcome Brian and the talented team at Amity to McGriff. “Their ... Read the full article
OdysseyRe hires Munich Re’s Daniel Boisvert as SVP, Property Treaty
3rd October 2024
After almost nine years with Munich Re America, part of the global re/insurance group, Daniel Boisvert has joined Odyssey Reinsurance Company as Senior Vice President (SVP) for its Property Treaty division. Based in Stamford, Connecticut, Boisvert reports to Executive Vice President, Joseph Guardo, and brings more than 20 years of experience ... Read the full article
KCC pegs privately insured loss from hurricane Helene at close to $6.4bn
3rd October 2024
According to catastrophe risk modelling specialist, Karen Clark & Company (KCC), privately insured losses from hurricane Helene will near $6.4 billion, driven by wind, storm surge, and inland flooding across nine states. A Category 4 storm with 140 mph winds, Helene made landfall near the city of Perry in the Big ... Read the full article
Mahindra Insurance Brokers establishes reinsurance arm in Dubai (DIFC)
3rd October 2024
The insurance broking arm of India's Mahindra Finance, Mahindra Insurance Brokers Ltd (MIBL), is looking to enhance its reinsurance services across the Middle East and Africa with the launch of its reinsurance division in Dubai's International Finance Centre (DIFC). Mahindra Finance is a large Indian non-banking finance company, and MIBL is ... Read the full article
Skyward Specialty expands renewable energy insurance solutions
3rd October 2024
Skyward Specialty, a property and casualty (P&C) insurer, has announced the expansion of its renewable energy solutions. As the renewable energy sector rapidly grows, the demand for specialised risk management is increasing, yet many risks remain underserved by traditional insurance options. Rob Roberts, president of Energy at Skyward Specialty, stated, "The rising ... Read the full article
Chaucer hires Lloyd’s Iryna Chekanava as Senior Innovation Underwriter
3rd October 2024
Global specialty re/insurance group Chaucer has hired Iryna Chekanava as a Senior Innovation Underwriter, who joins from Lloyd’s, where she was the senior manager for innovation growth and partnership at the Lloyd’s Lab. In her new role, Chekanava is expected to play a critical role in further developing Chaucer’s work in ... Read the full article
OneDegree Group reaches first operating profit in Q3 2024
3rd October 2024
OneDegree Group, a provider of cybersecurity and insurance solutions, has reached its first operating profit in the third quarter of 2024, marking a significant milestone for both the group and its insurance division. The company’s success can be attributed to the scale and profitability of its two flagship products: digital asset ... Read the full article
Lucy Clarke elected President of the Insurance Institute of London for 2024-25
3rd October 2024
The Insurance Institute of London, a professional organisation for insurance and risk management professionals, has announced Lucy Clarke as its President for 2024-25. Clarke joined WTW in 2024, bringing with her more than 25 years of industry expertise, with a strong emphasis on delivering top-tier client service, specialising in complex insurance ... Read the full article
Vaibhavi Mehta becomes CCR Re’s Director of Underwriting, Life
2nd October 2024
Vaibhavi Mehta has joined CCR Re as Director of Underwriting (Life), a Paris-based role, following her year tenure at Reinsurance Group of America (RGA). Mehta brings to her new role 17 years’ experience within the field of reinsurance and consultancy, during which time she held management positions within large international companies. Her ... Read the full article
Barbara Miller appointed Head of Broker Engagement at Broker Insights
2nd October 2024
Broker Insights, a data and distribution platform linking UK insurance brokers with insurance companies, has named Barbara Miller as the Head of Broker Engagement, a newly established role. Miller brings two decades of experience in financial services and IT, having also led her own sales and marketing business for insurance brokers. Most ... Read the full article
LM Re & Safehub sensor-triggered parametric coverage to protect UC campuses from earthquake damages
2nd October 2024
Liberty Mutual Reinsurance (LM Re), the reinsurance arm of Liberty Mutual, and Safehub, a technology provider in seismic sensor and risk management solutions, have entered into a partnership with the University of California (UC) to protect their campuses from the risk of earthquake damage. The UC coverage is reportedly the first sensor-triggered ... Read the full article
Francesca Harland to lead Mosaic’s Global Professional Liability
2nd October 2024
Specialty insurer Mosaic Insurance has appointed Francesca Harland as its Global Head of Professional Liability, replacing Anna Jay, who was named the company’s new Active Underwriter, Syndicate 1609, in July. According to the announcement, these appointments were part of a restructuring of the underwriting and operational teams to drive Mosaic’s vital ... Read the full article
Lockton launches dedicated Offshore Projects Practice
2nd October 2024
Independent insurance broker Lockton has launched a new dedicated Offshore Projects Practice to navigate complex Energy, Marine and Power risks, to be headed by Jack Swift, David Vajnai and Alex Morgan. The offshore industry faces challenges in securing capital and insurance due to the costly claims profile of offshore wind and ... Read the full article
Beazley forecasts cyber insurance market to grow to $40bn by 2030
2nd October 2024
Specialty insurer Beazley predicts that the cyber insurance market will grow from $15 billion in 2024 to $40 billion by 2030, driven by increasing demand due to rising cyber threats and costs, as the firm continues to manage its exposure amid premium growth. In its latest Cyber Risk Update, Beazley highlights ... Read the full article
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