Reinsurance News
UK bulk annuity market in 2024 sees 83% of deals under £100m, Aon reports
14th November 2024
Aon, a professional services firm providing a range of risk, retirement, and health solutions, recently released a report on the UK risk settlement market, shedding light on significant trends and strategic shifts affecting the bulk annuity sector, especially in transactions under £100 million. The report indicates a surge in smaller transactions, ... Read the full article
CMS appoints Hannah Cane as Partner within its Insurance and Reinsurance Group
14th November 2024
International law firm CMS has hired Hannah Cane as a partner within its Insurance and Reinsurance Group (IRG) in London, further strengthening the firm’s insurance and reinsurance capabilities. She joins an established team of IRG Construction specialists, which includes: Martin Fox, Monica Lesny, Harriet Munro, Cheryl Gibson and Scarlett West. Overall, Cane brings over ... Read the full article
James River reports $42m net loss in Q3’24 with higher CoR
14th November 2024
James River Group Holdings has released its financial results for the third quarter of 2024, posting total revenues of $191.4 million, despite a net loss of $42.0 million, and a higher combined ratio of 135.5% compared to Q3 2023. For last year’s third quarter, the Group reported total revenues of $210.3 ... Read the full article
Insurance is vital to accelerating climate finance: Howden
13th November 2024
A new whitepaper released by re/insurance broker Howden in partnership with Boston Consulting Group (BCG), has highlighted how the role of insurance has largely been a blind spot in strategic conversations around climate and nature finance, and how the entire insurance value chain can be mobilised to deliver the 2030 ... Read the full article
Price Forbes appoints Henry Morgan as Director of Construction
13th November 2024
Global specialty broker Price Forbes has announced that Henry Morgan will join its Global Construction team in London as Director – Construction, effective March 2025. Morgan brings more than 13 years of experience in the US construction wholesale market to his new role, along with valuable expertise that will strengthen Price ... Read the full article
Fidelis Insurance to provide reinsurance to Euclid Mortgage
13th November 2024
Fidelis Insurance Group, a global specialty insurer, has formed a strategic partnership with Euclid Mortgage Insurance Services, LLC (Euclid Mortgage), a managing general agency specialising in underwriting credit risk on residential mortgage portfolios. Through this agreement, Fidelis Insurance, alongside other reinsurers, will provide reinsurance capacity to Euclid Mortgage. This collaboration aligns with ... Read the full article
RGA’s Ruby Re reaches $480m of total funding following second investment round
13th November 2024
Reinsurance Group of America (RGA) , a global life and health reinsurer, has announced today that Ruby Re, a reinsurance sidecar vehicle sponsored by RGA and focused on the US asset-intensive market has successfully closed a second round of funding, raising a total of $480 million in capital. The second round ... Read the full article
Ascot gets minority investment from BellTower to facilitate further growth
13th November 2024
Bermuda-based global specialty insurance group Ascot has received a minority investment from BellTower Partners LLC, a private holding company that invests permanent capital to acquire significant and influential ownership positions in private businesses. BellTower reportedly upsized its private financing of Ascot due to strong demand from its investors. The firm noted that ... Read the full article
Public-private partnership delivers parametric solution for urban flooding in Ghana
13th November 2024
The Insurance Development Forum (IDF), alongside its partners, has successfully delivered two parametric insurance products to help strengthen the financial resilience of flood-prone communities in Ghana. In response to the increasing flood risk and limited financial protection a new project was launched in 2022 to enhance the financial resilience of flood-prone ... Read the full article
Insurance industry lagging behind in establishing climate risk committees: Fathom
13th November 2024
A new research report commissioned by Fathom and conducted by IFI Global reveals that the insurance industry is falling behind in establishing dedicated climate risk committees, suggesting that firms would benefit significantly from adopting them to strengthen climate risk management. The findings are based on data from annual and ESG reports ... Read the full article
Previsico launches Instacasting, an advanced flood mitigation solution
13th November 2024
Previsico, a provider of surface water flood forecasting, is introducing Instacasting, a next-generation flood mitigation solution. Instacasting uses the most accurate observed rainfall data available (rather than predicted data) to assess surface water flood risks, enabling clients to respond more quickly and with greater confidence. The Instacasting suite integrates seamlessly with Previsico's ... Read the full article
Ambac’s specialty P&C insurance production totals $260m in Q3’24
13th November 2024
Ambac has revealed that its specialty P&C insurance production, which includes gross written premiums (GWP) by its Specialty P&C Insurance segment, Everspan, and premiums placed by the Insurance Distribution segment, totalled $260 million in the third quarter of 2024, an 86.2% increase compared to the same period last year. The firm’s ... Read the full article
HDI expands Environmental Liability Insurance globally
13th November 2024
HDI Global, a corporate and specialty insurer, is expanding its Environmental Liability Insurance to the international market adding Social and Governance coverage, addressing the growing concerns around evolving risk contexts and increasing regulatory pressures. Responding to an evolving risk landscape due to increased regulatory pressures and ESG risk development, HDI Global ... Read the full article
Probitas expands with five new business lines after Aviva integration
13th November 2024
Probitas has announced the addition of five new lines of business following its integration with Aviva, including Marine (Cargo, Fine Art & Specie, Ports & Terminals), Construction, Renewable Energy, Contingency/Event Cancellation, and Mergers & Acquisitions (M&A). Aviva completed its £249 million acquisition of Probitas in July 2024, marking its entry ... Read the full article
Everest names Corbo Head of US Primary Casualty, Weiser to lead US Excess Casualty
13th November 2024
Everest Insurance, the insurance division of Bermuda-domiciled re/insurer Everest Group, has made two key leadership appointments within its US Casualty business. Nina Corbo has been named Head of US Primary Casualty, meanwhile, Debbie Weiser has been appointed Head of US Excess Casualty. Both will report to Bill Hazelton, Executive Vice President ... Read the full article
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