Reinsurance News
Maiden Holdings posts $34.5m net loss in Q3, NPW climbs to $8.8m
12th November 2024
Maiden Holdings, Ltd. has posted a $34.5 million net loss for the third quarter of 2024, compared to a net loss of $3.5 million for the third quarter of 2023. The firm attributes the net loss towards an underwriting loss of $18.8 million in Q3 2024, a higher loss in comparison ... Read the full article
Emerald Bay partners with Vanderbilt to launch premium casualty program for luxury real estate
12th November 2024
Emerald Bay Risk Solutions, a collaborative underwriting carrier specialising in tailored insurance solutions, has formed a strategic partnership with Vanderbilt Properties Associates, Inc., a risk purchasing group managing a significant portfolio of luxury residential and commercial real estate properties. Through this partnership, they will launch a casualty programme focused on providing ... Read the full article
TransRe appoints Swiss Re’s Abdeladim Bousselam as Head of MEA
12th November 2024
TransRe, a reinsurance company wholly owned by Alleghany Corporation, has announced the appointment of Abdeladim Bousselam as Head of MEA, effective January 1, 2025. In his new role, Bousselam will report directly to Julien Mollinier, President of Europe, Middle East, and Africa at TransRe. Commenting on the appointment, Mollinier said, “I am ... Read the full article
KCC US Flood Model 2.0 approved by Florida Hurricane Loss Projection Commission
12th November 2024
Karen Clark & Company, a provider of catastrophe risk modelling and analytics, has announced that its KCC US Flood Reference Model Version 2.0 has received certification from the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM). This marks the first time a flood model has been approved by the Commission under ... Read the full article
Fitch revises outlook on QBE & subsidiaries to positive
12th November 2024
Fitch Ratings has revised the outlook on all the ratings of Australia-based QBE Insurance Group Limited and its subsidiaries to Positive from Stable, while affirming QBE's Long-Term Issuer Default Rating at 'A-' and the Insurer Financial Strength (IFS) Ratings of the core subsidiaries' at 'A+' (Strong). Analysts confirmed that the positive ... Read the full article
Lockton Re appoints Guy Carpenter’s Jemima Hopper as Cyber Reinsurance Broker
12th November 2024
Lockton Re, the reinsurance arm of the independent insurance broker, has announced the appointment of Jemima Hopper as a Broker in its Cyber Practice. Hopper, who is ACII qualified, brings valuable expertise in cyber reinsurance broking, along with experience in Treaty, MGA, and Retro Markets. She joins Lockton Re from Guy Carpenter, ... Read the full article
MS Reinsurance CUO Goldie optimistic heading into 1.1, sees opportunities in ‘almost every area’
12th November 2024
As the autumn conference season concludes and the reinsurance industry shifts its focus to the January renewals, we spoke with MS Reinsurance’s Charlie Goldie, Chief Underwriting Officer, for his insights on the discussions at RVS in Monte Carlo and the Insurance Leadership Forum (ILF) hosted by the Council of Insurance ... Read the full article
Envelop Risk launches new underwriting division, appoints Dom Peters as CEO
12th November 2024
Data-driven reinsurance and analytics specialist Envelop Risk has launched Envelop Underwriting, appointing Dom Peters to lead the newly established division as CEO. According to the firm, Envelop Underwriting will encompass all existing underwriting activities, including Envelop Risk Bermuda and Envelop at Lloyd’s. Aforementioned Peters will reportedly oversee the management and governance ... Read the full article
Howden strengthens Hong Kong presence with Storfield acquisition
12th November 2024
Howden, a global insurance intermediary group, has acquired Storfield Insurance Consultants Ltd (Storfield), a specialist in general insurance for small-to-medium-sized enterprises (SMEs) and high-net-worth (HNW) clients. This acquisition strengthens Howden’s presence in Hong Kong, expands its reach across Asia, and underscores its commitment to investing in specialty services for clients in ... Read the full article
UK insurers’ growth to slow with steady premium income projected until 2026: EY
12th November 2024
In the coming years, UK insurance companies are projected to report steady yet slowing premium income growth; a trend that is expected to persist throughout 2024, 2025, and 2026 as consumer premium increases return to average levels, according to a recent EY report. After experiencing significant premium increase due to high ... Read the full article
Henchoz to step down from Talanx Board in 2025, Jungsthöfel to succeed as reinsurance lead
12th November 2024
Jean-Jacques Henchoz, Member of the Board of Management at Talanx AG with responsibility for the Reinsurance division, will not extend his expiring contract and will depart from the Board on 31 March 2025, with Clemens Jungsthöfel, Chief Financial Officer and designated CEO of Hannover Re, set to assume these responsibilities ... Read the full article
Lockton Re adds Edward Tyler to Retro & Property Specialty team
12th November 2024
Lockton Re, the reinsurance division of the global brokerage, has appointed Edward Tyler as a senior broker in its Retrocession and Property Specialty team. Tyler brings expertise in retrocession, London market property and global composite placements to the role. Most recently, he served as the Divisional Director of Non-Marine Retrocession with reinsurance ... Read the full article
IQUW partners with mea to boost underwriting efficiency with AI-driven platform
12th November 2024
Property and specialty insurer and reinsurer IQUW has formed a strategic partnership with mea, an AI-powered processing platform for re/insurers, to enhance underwriting efficiency across its operations. This collaboration aims to improve IQUW’s productivity and service quality, aligning with its commitment to delivering smooth broker experiences. Currently active within IQUW’s Directors and ... Read the full article
Matt Roy named Ascot US Chief Operating Officer
12th November 2024
Bermuda-based global specialty insurance company Ascot has announced the appointment of Matt Roy to the newly created role of U.S. Chief Operating Officer, effective November 18. In his new position, Roy will be tasked with aligning underwriting, operations, and technology across the U.S. and designing change initiatives to continue to enhance ... Read the full article
Enstar enters into additional $75m legacy reinsurance agreement with James River
12th November 2024
A wholly owned subsidiary of legacy player Enstar Group has entered into a $75 million adverse development cover (ADC) reinsurance agreement with certain subsidiaries of Bermuda-domiciled insurance holding company, James River Group Holdings. Under the terms of the agreement, Enstar will provide the $75 million of limit in excess of the ... Read the full article
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