Reinsurance News
Major cyber catastrophe loss could accelerate market development: Lockton Re
24th April 2024
Lockton Re, the global reinsurance arm of the privately held independent insurance broker, has highlighted how a large cyber catastrophe event could have its benefits by pushing the market to work collaboratively and drive innovation and product development. In a new analysis, "A Kaleidoscope of Possibilities: Preparing for Ivan Wiper," the ... Read the full article
PCF Insurance secures $400m in incremental financing
24th April 2024
PCF Insurance Services, a Utah-domiciled insurance brokerage, has closed $400 million in incremental debt financing led by Blue Owl, an alternative asset manager who acted as lead arranger and administrative agent. The financing was increased from $300 million to $400 million in response to strong demand from new and existing lenders. ... Read the full article
Howden Re Intl. hires Alexander Roth as MD, Head of Capital & Operational Solutions Europe
24th April 2024
Alexander Roth has joined Howden Re International from legacy acquirer DARAG as Managing Director, Head of Capital and Operational Solutions Europe, effective May 1st, 2024. In his new role with the reinsurance broker, Roth will focus on retroactive and prospective structured reinsurance. Most recently, Roth served as DARAG’s Global Head of ... Read the full article
Addresscloud and JBA Risk partner for flood risk management in Europe
24th April 2024
Geo-coding and property intelligence expert, Addresscloud, has partnered with flood specialist JBA Risk Management to map the flood risk of over 280 million buildings across mainland Europe. With this new service, insurers, reinsurers, and brokers will be able to identify in less than a second, the indicated flood risk at a ... Read the full article
Regulators to increase US life insurers’ capital risks transparency, use of offshore reinsurance a concern: Moody’s
24th April 2024
In its latest US Life & Health Insurance update, Moody’s analysts have highlighted improving capital risks transparency as regulators top priority as well as their concern regarding the increase in the use of offshore reinsurance by life insurers. “This year will be another active one on the regulatory front for US ... Read the full article
DeNexus appoints industry veteran Isabelle Dumont as Chief Marketing Officer
24th April 2024
DeNexus, a provider of cyber risk modelling solutions, has recently appointed industry veteran Isabelle Dumont as its new Chief Marketing Officer. In her new role, Dumont will lead the company's global marketing initiatives, focusing on enhancing brand awareness, generating demand, and developing effective go-to-market strategies. Additionally, she will play a crucial role ... Read the full article
Structured data and automation essential to address escalating global risks: M-Files
24th April 2024
The insurance industry must use structured data and automation to address the issues derived from increasing incidents like extreme weather, economic or geopolitical events and cybercrime, M-Files highlights. In recent times, the world has witnessed a host of occurrences that have rocked global markets, such as wildfires raging across Europe, two ... Read the full article
Aspida appoints new CTO and Director of Digital Product Management
24th April 2024
Aspida, a life insurance and annuity company, has announced the appointment of two new hires, Jason Pedone as Chief Technology Officer and Derek Clinton as Director of Digital Product Management. These “strategic” new hires will play a pivotal role in the continued development and advancement of the company's cutting-edge, in-house technology ... Read the full article
Insurance pricing continues to moderate while rates decline in majority of regions, says Marsh
24th April 2024
Global commercial insurance rates climbed 1% in the first quarter of 2024, down from the 2% increase that was seen in the fourth quarter of 2023, according to the Global Insurance Market Index released by insurance broker and risk advisor and a business of Marsh McLennan, Marsh. Rates continued to be ... Read the full article
BMS Re names John Canavan as US COO
24th April 2024
Global broker BMS Group's reinsurance division, BMS Re, has hired John Canavan as its new Chief Operating Officer (COO) in the US, reporting to Chris Brook, Group COO, and Andrew Wheeler, President of BMS Re. Canavan is a senior reinsurance operations professional with a solid and proven track record, and joins ... Read the full article
Briggs promoted to VP Strategic Innovation & Emerging Markets, AMG Actuary, The Standard
24th April 2024
Julie Briggs has been promoted to the role of vice president of Strategic Innovation and Emerging Markets and Asset Management Group Actuary, at Standard Insurance Company (The Standard). In her new role, she is expected to be responsible for the leadership of all AMG actuarial and finance functions. She will also work ... Read the full article
IQUW unveils new combined FI and Cyber solution, FortiFI
24th April 2024
IQUW, the property and specialty re/insurer has launched FortiFI, the company's new Financial Institutions (FI) wording featuring integrated cyber coverage, specifically tailored for US clients. According to the announcement, FortiFI will focus on supporting the needs of small to mid-market financial institutions, with coverage ranging from corporate finance and non-bank lenders to ... Read the full article
Inigo’s CoR strengthens to 85.5% as GWP surpasses $1bn in 2023
24th April 2024
Specialist insurer Inigo Limited has surpassed $1 billion in gross written premium (GWP) in its third year of operation, as the company announces a significant, more than 400% rise in profit after tax of $144.5 million for the full year 2023. All in all, GWP rose by 35.2% to $1.1 billion ... Read the full article
Chubb reports Q1’24 net income increase and P&C CoR of 86%
24th April 2024
Global insurer Chubb has reported a net income increase of 13.3% to $2.14 billion for the first quarter of 2024, supported by a stronger performance in both its property and casualty (P&C) and Life insurance businesses in the period. As well as the rise in net income, Chubb has reported core ... Read the full article
Cowbell unveils new GenAI solution to optimize underwriting workflows
24th April 2024
Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs), has unveiled Prime Tech with Cowbell Co-Pilot, a generative AI solution built into the underwriting process of Prime Tech. Prime Tech is Cowbell's adaptive cyber insurance offering that combines Prime 250 cyber risk insurance with Technology Errors and Omissions ... Read the full article
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