Reinsurance News
WTW promotes Bonnet and Hirsch to Co-Heads of Transactional Insurance
28th August 2024
Global advisory, broking, and solutions firm WTW has appointed Simone Bonnet and Andrew Hirsch as Co-Heads of Transactional Insurance Solutions within Private Equity and Transactional Solutions, Corporate Risk and Broking North America (CRB NA). As per WTW, in their new roles, Bonnet and Hirsch will co-lead the Transactional Insurance Solutions team ... Read the full article
Better motor and buildings insurance results support German non-life earnings: Fitch
28th August 2024
Fitch Ratings has revised its sector outlook for the German non-life insurance market to ‘improving’ from ‘neutral’ in June 2024, as the rating agency predicts better underlying profitability supported by strongly rising premium rates in motor and buildings insurance. According to a recent Fitch report, the sector premium is now forecasted ... Read the full article
AM Best assigns A- ratings to Mainsail with stable outlook
28th August 2024
Global ratings agency AM Best has assigned Mainsail Insurance Company with a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent), with a stable outlook. Mainsail, a property and casualty insurer, offers 17 different lines of coverage, including auto, property, and commercial insurance. The ... Read the full article
FullCircl partners with Howden to enhance client experience
28th August 2024
FullCircl, a software company that assists insurance brokers in accelerating growth and integrating compliance smoothly, has announced a multi-year agreement with Howden, an insurance intermediary group. This partnership aims to help Howden's clients maintain proper coverage while lowering compliance costs and reducing administrative burdens. The deployment of FullCircl SmartBroker includes a suite ... Read the full article
Arch Capital adds Dan J. Houston and Neal Triplett to its Board of Directors
28th August 2024
Bermuda-headquartered insurer and reinsurer Arch Capital Group Ltd. has added Daniel "Dan" J. Houston and Neal Triplett to its Board of Directors, effective immediately. John Pasquesi, Chair of the ACGL Board of Directors, commented, "The Board of Directors regularly assesses the composition of our Board and identifies opportunities to broaden our ... Read the full article
Vienna Insurance Group’s GWP climbs 7.9% in H1’24
28th August 2024
In their financial results for the first half of 2024, Vienna Insurance Group (VIG) has reported that its total volume gross written premiums (GWP) increased by 7.9% to reach €7,886.8 million. Particularly positive premium growth was reported in the firm's Special Markets segment (Germany, Georgia, Liechtenstein, and Türkiye) with an increase ... Read the full article
Lloyds Bank names De Monte as MD, Head of Insurance & Group Subsidiaries
28th August 2024
Lloyds Bank Corporate & Institutional Banking has appointed Christian De Monte as Managing Director, Head of Insurance and Group Subsidiaries. De Monte will join on September 2nd, and oversee two teams, one which supports the bank’s insurance clients and the other which supports its group subsidiaries client base. Based in London, ... Read the full article
Global reinsurers’ earnings to remain favourable through 2025, says Fitch
28th August 2024
Global reinsurers are expected to maintain strong earnings through the rest of 2024 and into 2025, thanks to generally adequate pricing and disciplined underwriting, according to a recent Fitch Ratings report. In the first half of 2024, the 19 non-life reinsurers tracked by Fitch achieved a combined ratio of 84.2%, an ... Read the full article
Peak Re sees strong H1 profit as GWP swell to $847.9m
28th August 2024
Hong Kong-based reinsurer Peak Re has released its H1 2024 results, reporting GWP of $847.9 million, up from $832.9 million in the same period of 2023. At the same time, Peak Re disclosed an H1 2024 profit of $124.2 million, while its investment results benefitted from rising interest rates. Indeed, with assets ... Read the full article
IFRS 17 adds complexity to reinsurers’ financial reporting: AM Best
28th August 2024
The International Financial Reporting Standards (IFRS) 17 is undergoing a significant accounting shift that necessitates changes in performance analysis within the reinsurance market, according to a recent AM Best report. Implemented at the end of 2023, the IFRS 17 arrived during the hardest reinsurance markets in decades. The new standard has ... Read the full article
Redline Underwriting reveals property facultative reinsurance solution for LatAm
28th August 2024
Redline Underwriting has unveiled a new comprehensive property facultative reinsurance solution targeting Commercial and Industrial Property risks across Mexico, Central, and South America, and the Caribbean. Adriana Cisneros, who will lead the new offering as Head of Underwriting, commented, "This journey has been remarkable, characterized by intensive strategy sessions, remote and ... Read the full article
Kristopher Lynn joins Lockton Re as Senior Broker and Practice Leader for Agriculture
28th August 2024
Lockton Re, the reinsurance arm of the independent insurance broker, has appointed Kristopher Lynn as a Senior Broker and Practice Leader for Agriculture, based in the Bermuda office. Lynn has nearly two decades of industry experience, most recently serving at Terra Underwriting Management. His past roles include serving as the President ... Read the full article
WTW unveils Fintech & Digital Assets Taskforce to tackle complex digital ecosystem
28th August 2024
WTW, the broker and risk advisor, has unveiled a Fintech and Digital Assets Taskforce, in a move that is set to provide clients with consultancy support for managing risks in the complex digital asset ecosystem. The broker has brought together their global fintech and digital assets specialists in an integrated taskforce ... Read the full article
FWD Group posts $223m operating profit in H1’24
28th August 2024
FWD Group, an Asian insurance company, has announced its financial results for the first half of 2024, reporting an operating profit after tax of US$223 million, which reflects positive contributions from the company's four geographic business segments: Hong Kong SAR & Macau SAR; Thailand & Cambodia; Japan; and Emerging Markets. At ... Read the full article
Goosehead & Root Insurance collaborate to simplify insurance sales for independent agents
28th August 2024
Root, Inc., a technology firm specialising in insurance solutions and the parent company of Root Insurance Company, and Goosehead Insurance, Inc., an expanding independent personal lines insurance agency, have announced a new technology integration partnership that is transforming the agent experience. This collaboration represents a significant advance toward their shared goal ... Read the full article
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