Reinsurance News
CLARA Analytics targets insurance claims optimisation
16th August 2024
CLARA Analytics, a provider of artificial intelligence (AI) technology for insurers, has announced the launch of Claims Document Intelligence Pro, a new product designed to revolutionise insurance claims optimisation. The introduction of Claims DocIntel Pro (formerly CLARA Optics), represents ground-breaking advancements with its deeper contextual analysis of legal demands and medical ... Read the full article
Skyward Specialty boosts regional Contract Surety teams with key hires
16th August 2024
Property and casualty (P&C) insurer Skyward Specialty has bolstered its regional Contract Surety teams with a number of key appointments. Firstly, in its Northeast region, the P&C insurer has appointed Gregg Callahan as regional vice president in New England, who has spent the last 27 years working at Liberty Mutual Insurance, ... Read the full article
Rokstone appoints Laurence Burrows to lead new US Excess Casualty division
16th August 2024
Rokstone, a speciality re/insurance MGA and part of Aventum Group, has announced the appointment of Laurence (Larry) Burrows as Head of its newly established US Excess Casualty division. Rokstone's U.S. Excess Casualty division will cover a wide range of sectors, including Construction, Transportation, Energy and US & Global Fortune 1,000 risk-managed ... Read the full article
Cautious capital deployment contributes to discipline: AM Best
16th August 2024
A cautious deployment of capital has contributed to reinsurance discipline, AM Best analysts have highlighted, as they continue to observe the lack of new entrants in the market that typically feature in previous hard cycles. “Historical underperformance, a riskier environment that is more difficult to model and price and, most importantly, ... Read the full article
Aon expands EMEA Transportation and Logistics team with key appointments
16th August 2024
Global insurance and reinsurance broking group Aon has announced three senior appointments to strengthen its EMEA Transportation and Logistics team. Jan Steven Kelder has been named Industry Specialty Leader, Transportation and Logistics, EMEA. In this role, he will report to Luca Tassarotti, Head of Commercial Risk for EMEA, and Lee Meyrick, ... Read the full article
Cardona to lead UIB’s Latin America & Caribbean treaty reinsurance in Miami
16th August 2024
United Insurance Brokers Limited (UIB) has hired Hugo Cardona to lead its Latin America and Caribbean treaty reinsurance business out of Miami. Cardona joins from Wind Field International LLC, where he served for over six years, chiefly as Managing Director. At Wind Field, he was tasked with providing international brokers, reinsurers and ... Read the full article
ATL appoints Álvaro Mier as joint COO and CFO to strengthen leadership team
16th August 2024
ATL, a broker specialising in commercial (re)insurance solutions, has strengthened its leadership team by appointing Álvaro Mier as joint Chief Operating Officer and Chief Financial Officer. Mier brings over 15 years of experience in global financial services, having most recently held the dual roles of CFO and COO at Riddle&Code, an ... Read the full article
Arch MI secures over $203m of indemnity reinsurance through Bellemeade Re
16th August 2024
Arch Mortgage Insurance Company (Arch MI) has obtained over $203 million of indemnity reinsurance on a pool representing approximately $30.5 billion of mortgages from Bellemeade Re 2024-1 Ltd., its Bermuda special purpose reinsurer. This transaction reportedly covers a portfolio of MI policies issued by Arch MI and affiliates primarily from September ... Read the full article
DUAL welcomes Scott Noerr as Chief Information Officer
16th August 2024
DUAL, the specialist underwriting arm of Howden Group Holdings, has announced the appointment of Scott Noerr as Chief Information Officer (CIO) to drive the company’s technology initiatives. In his new role, Noerr will primarily focus on driving innovation and implementing advanced technology solutions to ensure seamless operation of critical systems that ... Read the full article
ICA and PIA urge Australia to reform land use for natural hazard protection
16th August 2024
The Insurance Council of Australia (ICA) and the Planning Institute of Australia (PIA), representing the insurance sector and urban planning professionals respectively, are calling on governments at all levels to address growing housing challenges by reducing the risks associated with natural hazards. At the 2024 National Industry Roundtable on Land Use ... Read the full article
Ricard named APAC Head of Insurance and Asset Management at Oliver Wyman
16th August 2024
Oliver Wyman, a global management consulting firm and a business of Marsh McLennan, has announced the appointment of Paul Ricard as the new Asia-Pacific (APAC) Head of Insurance and Asset Management, effective immediately. In his new role, Ricard will aim to drive the growth of Oliver Wyman’s Insurance and Asset Management ... Read the full article
Poll reveals lack of data and education hinder parametric insurance adoption
15th August 2024
According to a recent poll by Reinsurance News, the main obstacles to the global adoption of parametric insurance are the lack of available data and models, along with inadequate education about these solutions. To clarify, parametric insurance is a type of coverage that guarantees payment to a policyholder based on the ... Read the full article
IRB (Re) sees net income increase in Q2 as CoR improves
15th August 2024
Brazilian reinsurer IRB (Re) has announced financial results for the second quarter of 2024, reporting a net income of R$ 65 million (USD 12m), an underwriting profit of R$ 34 million (USD 6.2m) and an improved combined ratio of 106% from last year's 107.5%. Compared to the second quarter of 2023, ... Read the full article
Insurance market remains growth-oriented, creating opportunities for buyers: Aon
15th August 2024
Many global insurers reported healthy profits in 2023, and with reinsurance market conditions improving for buyers, the insurance sector was once again growth-oriented in the second quarter of 2024, according to re/insurance broking group Aon. According to Aon's Q2 2024 overview of the global insurance marketplace, during the quarter, carriers remained ... Read the full article
Changing trends driving demand for health reinsurance: AM Best
15th August 2024
According to global credit ratings agency AM Best, the recent global rise in healthcare utilisation, combined with the prospect of increasing medical inflation has the potential to "expand the role of health reinsurance." A new report from the agency states that from a global perspective, health reinsurance premium levels are continuing ... Read the full article
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