Reinsurance News
UK & US PRT markets expected to exceed £250bn in three years: Legal & General
6th September 2024
The UK and US Pension Risk Transfer (PRT) markets are experiencing exceptionally strong demand, with insurers expected to secure over £250 billion in combined volumes over the next three years, according to Legal & General. The latest edition of Legal & General’s PRT monitor revealed a surge in large pension plans ... Read the full article
US-Bermuda reinsurers’ poised to sustain strong performance in 2024: AM Best
6th September 2024
AM Best reports that the U.S. and Bermuda reinsurance composite is maintaining its positive momentum and is set to continue its strong performance from 2023 into 2024. The U.S.-Bermuda composite recorded its third consecutive year of improved underwriting profitability in 2023, according to a recent report by AM Best. The firm believes ... Read the full article
Moody’s assigns A1 IFSR to SCOR & entities, outlook retained at stable
6th September 2024
Global ratings agency Moody’s Ratings has affirmed the A1 insurance financial strength ratings (IFSR) of French reinsurer SCOR and its key operating entities, with the outlook on all retained at stable. Simultaneously, all debt ratings were also affirmed by Moody’s. Despite rebalancing its underwriting portfolio, SCOR has maintained the strength of ... Read the full article
PERILS updates insured losses from southern Germany floods at €1.590m
6th September 2024
Zurich-based catastrophe insurance data provider PERILS has disclosed its second industry loss estimate of €1.590 million for the floods in southern Germany from 31st May to 6th June 2024. This compares to the initial loss estimate of €1.568 million issued on 18th July 2024, six weeks after the event end ... Read the full article
Euclid Transactional launches APAC division led by Alice Ho
6th September 2024
Euclid Transactional, a managing general agent (MGA) specialising in transactional insurance underwriting and claims handling, has launched its new Asia Pacific (APAC) division. Headquartered in Singapore, the APAC programme will be led by Alice Ho, Head of APAC, supported by Edward Chow, Assistant Vice President, and Sean Goh, Analyst at Euclid ... Read the full article
Change in life savings market presents opportunity to reduce pensions gap: Swiss Re
6th September 2024
Annuities sales in the United States have reached their highest levels, surpassing all previous records, with the United Kingdom experiencing a similar trend in life-saving product sales, following a similar trajectory, Swiss Re has revealed. This presents a vital opportunity to reduce the pensions gap, analysts highlight. At the same time, ... Read the full article
Newline Group grows UK presence with opening of Manchester office
6th September 2024
Newline Group, a specialty insurance provider, has announced the launch of a new office in Manchester, reinforcing its ongoing dedication to brokers and clients in the UK's regional market. This Manchester location is the company's second regional office in the UK, following the opening of its Leeds office in 2017. Newline remains ... Read the full article
Sapiens and Addresscloud partner to enhance geographic risk assessment
6th September 2024
Sapiens International Corporation, a provider of software solutions for the insurance industry, has announced a new partnership with Addresscloud, a cloud-based location intelligence firm. This collaboration aims to enhance insurers' ability to assess geographic risk and make well-informed underwriting decisions by providing access to global geospatial data. The partnership brings several advantages, ... Read the full article
BHSI promotes Theresa Biedermann to SVP, E&P Lines Claims
6th September 2024
Property and casualty insurer, Berkshire Hathaway Specialty Insurance (BHSI), has announced the promotion of Theresa Biedermann to Senior Vice President (SVP), Head of Commercial Lines (Public) and Financial Institutions Claims for Executive & Professional (E&P) Lines Claims in the US. Robert Romeo, Head of Claims, North America at BHSI, commented, “All ... Read the full article
AM Best downgrades Farm Bureau P&C Group’s ratings on nat cat losses
6th September 2024
Members of the Farm Bureau Property & Casualty Group have seen a 30% drop in surplus through Q2’24 due to significant catastrophe losses, including a major hailstorm in May and a wildfire in June, leading AM Best to downgrade its Issuer Credit Ratings. As a result, key balance sheet strength metrics ... Read the full article
Texel Group welcomes new brokers Hélène Heas and Davis Ng to Singapore office
6th September 2024
Texel Group, a specialist in credit and political risk insurance, has announced that Hélène Heas and Davis Ng have joined its Singapore office as brokers, and will report to Angela Chang, Managing Director of Texel Asia. Heas and Ng will play key roles in expanding Texel's business across the Asia Pacific ... Read the full article
Lloyd’s continues to see the makings of a super cycle: CEO John Neal
5th September 2024
John Neal, Chief Executive Officer (CEO) of the specialist Lloyd's insurance and reinsurance marketplace, said earlier today that there's no reason for price to significantly change, and that the market still sees the makings of a super cycle amid stable underwriting and capital conditions. After releasing an impressive set of ... Read the full article
Industry veteran Farber joins Acrisure to drive Mid-Atlantic growth
5th September 2024
Global insurance broker Acrisure has announced the appointment of Bill Farber as Head of Growth for its Mid-Atlantic Region to drive regional growth and capitalise on emerging business opportunities. In his new role, Farber will oversee growth strategies that align with Acrisure’s vision of making an impact with tech-driven solutions across ... Read the full article
Re/insurance industry must adapt to meet new demands and challenges: Howden Re
5th September 2024
Traditional risk management models are being tested by unprecedented natural disasters, geopolitical tensions and economic volatility, and with complex and evolving perils more interconnected and severe than ever before, insurers and reinsurers must adapt, according to Howden Re, the reinsurance broking arm of the global insurance intermediary. Howden Re's new report, ... Read the full article
Insurance carrier M&A activity falls to a 15 year low in H1’24: Clyde & Co
5th September 2024
In the first half of 2024, the insurance carrier M&A landscape saw 103 deals completed, the lowest seen in 15 years, according to Clyde & Co’s mid-year Growth report update. This follows a notable decline in deal volumes throughout 2023 in response to a surge in inflation and interest rate cuts. ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
