Reinsurance News
Helios expects value of the capacity fund to decrease to £75m at year-end 2024
18th November 2024
Lloyd's focused investment vehicle, Helios Underwriting, has updated the value of the company's value of capacity portfolio, now expecting to decrease to £75 million at 31st December 2024. Michael Wade, Chairman of Helios, commented: "The Freehold Capacity Portfolio has continued to deliver value to shareholders and we have realised £14m of ... Read the full article
Go Balance, AMI Specialty, and CFC introduce advanced insurance for natural capital credits
18th November 2024
Go Balance Ltd, a provider of high-quality JREDD+ carbon credits, is proud to reveal a unique insurance feature for its Natural Capital Credits, setting a new benchmark for security and trust within the voluntary carbon market. This feature offers buyers a streamlined, all-in-one solution: NCCs that include comprehensive insurance coverage is ... Read the full article
SRG appoints Jaya Taylor as Global Head of Group Regulatory Affairs, Risk and Compliance
18th November 2024
Specialist Risk Group (SRG), a specialist insurance intermediary, majority-owned by Warburg Pincus and Temasek, announces the appointment of Jaya Taylor as global leader for Group Regulatory Affairs, Risk, and Compliance reporting to CEO, Warren Downey. A seasoned governance and compliance expert, Taylor joins the SRG team from her role as Global ... Read the full article
GIC Re’s underwriting loss narrows for H1’24, CoR stands at 111.64%
15th November 2024
GIC Re, the Indian public sector reinsurer, has reported an underwriting loss of approximately ₹2,376.95 crore for the half year ended on September 30th, 2024, (H1 2024), as compared to a loss of around ₹3,029.04 crore for the same period in 2023. The reinsurer’s combined ratio improved slightly at 111.64 % ... Read the full article
Aon and Fathom launch new Florida Flood Model for state insurers to assess exposures
15th November 2024
Aon, a global professional services firm, has been certified by the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) to launch its new Florida Flood v3.0 model statewide to assess flood exposures in the state and inform re/insurers' rate filings. Florida Flood v3.0 was developed by Impact Forecasting, Aon’s catastrophe model, ... Read the full article
Holger Nieswandt to succeed Christoph Lamby at R+V Re
15th November 2024
The Supervisory Board of R+V Versicherung AG, the parent company of the German R+V Group, has named Holger Nieswandt as a member of the Management Board. Effective April 2025, Nieswandt will oversee R+V Re. Currently serving as Head of Research & Development at R+V Re, he will succeed Christoph Lamby, who ... Read the full article
Progressive reports $207m in October vehicle losses from Helene and Milton
15th November 2024
Progressive, the property and auto-focused insurance group, reported $206.5 million in incurred vehicle losses, including boats and recreational vehicles, on a companywide basis related to Hurricane Milton and unfavourable development from Hurricane Helene for October 2024. Progressive explained that, given Helene and Milton struck just two weeks apart and damaged many ... Read the full article
Generali’s nat cat budget to rise for 2025 but major changes to reinsurance not expected: Marco Sesana
15th November 2024
Global insurer Generali's natural catastrophe losses came in roughly 100 basis points above budget for the first nine months of 2024, and as the firm's portfolio continues to expand a higher nat cat budget is expected for 2025, although major changes to its reinsurance structure aren't anticipated, according to Marco ... Read the full article
Aegis Executive Risks launches comprehensive management liability insurance programme
15th November 2024
Aegis Executive Risks (AER), a division of Aegis General Insurance Agency and K2 Insurance Services, is pleased to announce the launch of its new Management Liability insurance program. This comprehensive offering is designed to protect executives, directors, officers, and businesses, providing critical coverage that strengthens leadership teams and enhances organisational resilience. The ... Read the full article
Notable insured losses expected from California mountain fire: Aon
15th November 2024
The recent mountain fire which broke out on November 6 in Ventura County of Southern California is expected to drive notable insured losses, according to global insurance and reinsurance broking group Aon. The start of the wildfire in southern California on November 6, 2024, was preceded by extreme wind gusts exceeding 75 ... Read the full article
EPIC strengthens leadership team with key executive promotions
15th November 2024
EPIC Insurance Brokers & Consultants, a national insurance brokerage firm, is strengthening its leadership team with two significant executive promotions to better serve its specialised clients and employees. Philip V. Moyles has been appointed as Co-President, joining Tom O’Neil in the role, while Gregg Bundschuh takes on the role of Chief ... Read the full article
Argyle and MSI partner to enhance SME insurance in Australia
15th November 2024
Argyle Insurance and Mitsui Sumitomo Insurance have entered into a multi-year capacity agreement, marking the start of a strategic partnership aimed at enhancing business insurance options for Australian SMEs. Beginning January 1, 2025, this partnership will enable Argyle to offer a business insurance package with an extended combined limit of up ... Read the full article
Aon, DFC to provide $50m in war insurance for Ukrainian businesses
15th November 2024
The U.S. International Development Finance Corporation (DFC) will provide $50 million, in coordination with Aon, in political risk insurance (PRI) for a new reinsurance facility to ARX, an Ukrainian subsidiary of Fairfax Financial Holdings Limited, to support companies in Ukraine. This initiative aims to establish a range of war risk insurance ... Read the full article
Insurers urge EU to regulate private Third-Party Litigation Funding
15th November 2024
A coalition of eleven associations, spearheaded by Insurance Europe, is urging the European Commission to establish EU-wide regulations for private Third-Party Litigation Funding (TPLF). TPLF involves private investors, unconnected to the lawsuit, financing legal action in return for a portion of any financial award. This practice, Insurance Europe highlights, currently lacks ... Read the full article
SRG boosts claims capabilities with One Claim acquisition
15th November 2024
Insurance industry intermediary, Specialist Risk Group (SRG), has announced the acquisition of Essex-based One Claim Limited. The UK company provides broker partners and their clients with claims management support from initial notification through to settlement. Now sitting within SRG’s MGA pillar MX, the One Claim team has significant expertise in the motor ... Read the full article
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