Reinsurance News
MS Amlin reports HY’24 profit of £87m as CoR improves to 84.5%
19th November 2024
In its half-year 2024 results, Lloyd’s global re/insurer MS Amlin has reported a profit after tax of £87 million an increase of £83 million from the same period last year amid improved investment returns and lower discounting volatility through effective asset-liability matching. At the same time, MS Amlin's insurance service profits ... Read the full article
Bermuda plays key role in reinsurance innovation and collaboration: PwC’s Wightman
19th November 2024
The recent PwC Insurance Summit in Bermuda highlighted the island’s key role in driving reinsurance innovation, growth, and resilience in addressing global challenges such as climate change. Arthur Wightman, PwC Territory Leader, opened the summit by emphasising that it was not just an opportunity to reflect on the growth and resilience ... Read the full article
Davies continues North American expansion with Barker Claim acquisition
19th November 2024
Davies, a specialist professional services and technology business serving the insurance market, has acquired North Carolina-based independent loss adjusting firm Budget Claims Services. With headquarters in Greensboro, Barker Claim Services provides professional claims handling and loss adjusting expertise predominantly across property, casualty and motor claims to insurers, municipalities and self-insured corporates ... Read the full article
PPL launches new underwriter dashboard to enhance workflows
19th November 2024
Placing Platform Limited (PPL) has introduced its new underwriter dashboard to help users manage high volumes of business activity on the platform. Functioning like a worklist, the updated dashboard structure and user interface will help underwriters to locate work items easily and highlight outstanding tasks. The new underwriter dashboard enables users to ... Read the full article
Carrow Insurance launches to serve European mid-market sector
19th November 2024
Carrow Insurance, a newly launched Managing General Agent (MGA), has entered the European mid-market insurance sector under the leadership of Ronan Conboy, former CEO of AmTrust International. The company specialises in Warranty, Accident & Health, and Income & Payment Protection products, delivered through a network of brokers and distribution partners. Supported by ... Read the full article
Acrisure London Wholesale promotes Tom Quy to Managing Director
19th November 2024
Acrisure London Wholesale (ALW), the London-based wholesale division of Acrisure, has promoted Tom Quy to Managing Director, effective January 1, 2025. He succeeds John Sutton, who will transition into a new role as a consultant, providing strategic guidance to the ALW management team. Quy will report to Simon Hedley, Global Chief ... Read the full article
Lara Desay named Head of Risk Transfer at Hymans Robertson
19th November 2024
Lara Desay has been appointed as the Head of Risk Transfer at Hymans Robertson, a pensions and financial services consultancy. Desay brings extensive expertise in the risk transfer market, having joined Hymans Robertson in 2022 as a Partner. Prior to this, she was Head of Origination and Operations for the bulk ... Read the full article
Sompo sees profit and premium growth in H1’24
19th November 2024
Sompo Holdings' international overseas insurance/reinsurance business has reported an adjusted profit of $652 million in the first half of 2024, an increase of $88 million from the $564 million reported in the same period last year. The combined ratio for the first half of the year increased +2.0 pt to 94.1%, ... Read the full article
Swiss Re forecasts life insurance premiums to rise 3% annually, fuelling global growth
19th November 2024
As per a new report from the Swiss Re Institute, total global insurance premiums are set to grow at 2.6% annually in 2025 and 2026, primarily driven by life insurance, which is forecast to expand by 3% per year, more than double the rate of the past ten years. The Swiss ... Read the full article
HDI Global hires Allianz’s Tom Major as Chief Claims Officer for UK & Ireland
19th November 2024
HDI Global has appointed Tom Major as Chief Claims Officer, UK and Ireland, effective from February 7, 2025, who will join the firm's Executive team, reporting to Stephanie Ogden, Chief Executive Officer, UK and Ireland. Major will join the organisation from Allianz, where he currently serves as UK Head of Claims ... Read the full article
MGA Aqueous secures capacity deal with Allied World and Sompo
19th November 2024
Specialist managing general agent (MGA) Aqueous Underwriting has obtained major new capacity in a three-year deal with insurers Allied World and Sompo. From what Reinsurance News understands, the move to a syndicated capacity arrangement will provide the MGA with the opportunity to significantly develop and boost its product suite as it ... Read the full article
MS Reinsurance sees HY’24 insurance service profit hit £138m as CoR improves to 90.2%
19th November 2024
Switzerland-domiciled MS Reinsurance has reported an insurance service profit of £138 million in its half-year 2024 results, up 41% from the same period last year, while its combined ratio also improved to 90.2%. The above figures were strengthened by a $492 million increase in premium growth, driven by business expansion and ... Read the full article
ACORD introduces Standardised life insurance application to streamline industry practices
19th November 2024
ACORD, the standards organisation for the global insurance sector, has released a unified life insurance application aimed at enhancing efficiency and accuracy for both insurers and distributors. This application, now approved by the Interstate Insurance Compact for pre-filing across 47 states, marks the first standardised form of its kind. The new format ... Read the full article
Guy Carpenter to acquire remaining 51.5% of Carpenter Turner
19th November 2024
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has entered into an agreement to acquire the remaining 51.5% of shares of Carpenter Turner, an Athens-domiciled regional reinsurance broking and advisory business. The transaction is expected to close before the end of the year, but the terms were not disclosed. Established in ... Read the full article
West P&I Club officially opens new Dubai office
19th November 2024
West P&I Club, a global insurance provider for the maritime and offshore industries, has opened a new office in Dubai’s International Financial Centre (DIFC), located in Central Park Towers. This marks West’s seventh office worldwide, joining its locations in Hong Kong, London, Luxembourg, New York, Piraeus, and Singapore. The Dubai office is ... Read the full article
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