Reinsurance News
The Institutes adds President & CEOs of W. R. Berkley & Hanover to Board of Trustees
15th July 2024
Re/insurance educator and research provider, The Institutes, has appointed W. Robert Berkley Jr., President and Chief Executive Officer (CEO) of W. R. Berkley Corporation (WRBC), and John C. Roche, President and CEO of The Hanover Insurance Group, as Chair and Vice Chair, respectively, to its Board of Trustees. Peter L. Miller, ... Read the full article
Duck Creek Technologies partners with Charlee.ai to improve claims management
15th July 2024
Charlee.ai, a provider of AI-based predictive analytic solutions, and Duck Creek Technologies, a provider of SaaS core systems for the insurance industry, have partnered to create a solution to enhance claims management processes. The collaboration will integrate Charlee.ai's advanced AI technology into Duck Creek Claims solution, which is a comprehensive claims ... Read the full article
Parametrix secures $50m parametric cloud outage coverage for US retail chain
12th July 2024
Earlier this week, Parametrix, a provider of cloud monitoring, modeling, and insurance services, successfully secured a $50 million parametric cloud outage coverage for a US retail chain. As announced by Parametrix's Chief Commercial Officer, Sharon Haran, this innovative coverage provides the client with protection against Amazon Web Services (AWS) outages during ... Read the full article
Christopher Dines named Head of Client Service for Miller’s new real estate team
12th July 2024
Miller, an independent specialist re/insurance broker, has appointed Christopher Dines as Head of Client Service within a newly created Real Estate team, effective immediately. Dines will be based in London to build out a dedicated global Real Estate offering, catering to both wholesale and direct client channels. He will be reporting to ... Read the full article
ACORD’s Global Insurance Stock Index shows robust reinsurance performance in Q2
12th July 2024
ACORD, the standards-setting body for the global insurance industry, has announced that its Global Insurance Stock Index outperformed the broader market for the second consecutive quarter in a row, delivering a return of 28.9% compared to the worldwide average of 17.3%. From what we understand, the growth was attributed towards a ... Read the full article
Chubb makes new appointments and reorganises its LatAm region
12th July 2024
Property and casualty (P&C) insurer Chubb has announced a number of new leadership appointments, including Ana Robic and Ben Rockwell as Senior Vice President, Chubb Group. Robic is the current Vice President, Chubb Group and Division President, North America Personal Risk Service. Rockwell, Vice President, Chubb Group and Division President, North ... Read the full article
XS Global bolsters presence in EMEA with launch of Dubai operations
12th July 2024
Managing general agent, XS Global, has established its presence in Dubai with the launch of its operating unit, XS Global (DIFC) Limited, led by Stephen Saunders. The MGA has stated this move is to strengthen its reinsurance capacity globally, as Dubai serves as a prime location for conducting business in Europe, ... Read the full article
Tyler Dickson named Global Head of Client Relations at Blackstone Credit & Insurance
12th July 2024
Blackstone Credit & Insurance (BXCI), a division of the global investment firm Blackstone, recently announced the appointment of Tyler Dickson, the former Global Head of Investment Banking and Vice Chair of Banking & International at Citi, as its Global Head of Client Relations. Dickson will manage BXCI’s Institutional Client Solutions team, ... Read the full article
Reinsurance sector can handle a large tail event: S&P’s Karakuyu
12th July 2024
During yesterday's S&P Global Ratings Insurance In Focus webinar, Ali Karakuyu, Director and Lead Analyst, stated that if a large tail, 1-in-200 year catastrophe event were to occur, the global reinsurance sector is well-prepared and would be able to manage it effectively. Responding to a question on the sector's preparedness for ... Read the full article
Ascot U.S. to enhance financial and accounting operations with Phinsys partnership
12th July 2024
Ascot U.S, a P&C re/insurer part of Ascot Group Limited., has partnered with Phinsys, a finance automation software provider for the re/insurance sector, to modernise its business technology landscape and enhance its financial and accounting operations. This partnership enabled Ascot U.S. to enhance operational efficiency, address regulatory demands, and remain at ... Read the full article
Socotra and Oka form partnership to enhance carbon market insurance solutions
12th July 2024
US carbon-credit insurance carrier Oka, and Socotra, a provider of modern policy administration systems, have formed a strategic partnership aimed at the carbon markets and scaling climate solutions. This partnership combines Oka's team and artificial intelligence (AI) with Socotra's technology to reduce the risks associated with carbon credits. Within 12 months, Oka ... Read the full article
Markel Canada launches specialised sports insurance product Markel Play
12th July 2024
Markel Canada, a division of London-domiciled casualty insurer Markel International, a subsidiary of Markel Group, has officially launched Markel Play, which will serve as a comprehensive insurance product tailored for the sports, fitness, and recreation sectors. The insurer has decades of specialty insurance experience and deep expertise in sports as this ... Read the full article
P&C premium growth showing some promise, may see profitability in 2025: Triple-I/Milliman
12th July 2024
Favourable first-quarter economic and underwriting results for property & casualty (P&C) insurance are reportedly in line with projections that the sector will see a small underwriting loss in 2024, but achieve profitability in 2025, according to a new forecasting report from Insurance Information Institute (Triple-I) and Milliman, a collaborating partner. The report also ... Read the full article
Toa Re sees FY 2024 net income increase to $97.4m
12th July 2024
Japanese reinsurance group Toa Re has reported that net income for the fiscal year ending March 2024 was 15.5 billion yen ($97.4 million), marking an increase of 13.1 billion yen ($82.3 million) compared to the previous fiscal year. Toa Re reported that its ordinary income for fiscal year 2024 decreased by ... Read the full article
Concert names Rawlins SVP, Property Underwriting and Program Management
12th July 2024
Concert Group Holdings, Inc., a privately owned insurance holding company, has announced the appointment of Charles Rawlins as Senior Vice President, Property Underwriting and Program Management. In his new role, Rawlins will be responsible for underwriting and program oversight on various programs, with a primary focus on growing a profitable book ... Read the full article
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