Reinsurance News
Juniper Re collabs with CAPE to strengthen catastrophe analytics platform
18th July 2024
Juniper Re, the reinsurance broking arm and indirect subsidiary of The Baldwin Group, has announced a strategic collaboration with CAPE Analytics to deliver portfolio-improving property risk insights to its clients, as well as a differentiated view of the reinsurance market. "This collaboration adds another strategic component to Juniper Re’s sophisticated, tightly ... Read the full article
PartnerRe to provide capacity for the launch of Banyan Excess Liability
18th July 2024
Banyan Risk, a Bermuda-based specialist multi-line Managing General Agent (MGA), has announced a long-term strategic partnership with global reinsurer PartnerRe to write Excess Casualty Insurance. This collaboration, subject to approval by the Bermuda Monetary Authority (BMA), will see PartnerRe provide capacity and shareholder support for the launch of a new subsidiary ... Read the full article
PRA shares design and timetable for its 2025 dynamic general insurance stress test
18th July 2024
UK regulator the Prudential Regulation Authority (PRA) has revealed the design for its dynamic general insurance stress test (DyGIST), scheduled to take place in 2025. The plan to run this stress test was announced in October last year, alongside the DyGIST three objectives. One is the assessment of the UK general ... Read the full article
Allstate reports Q2’24 catastrophe losses of $2.1bn
18th July 2024
Large US primary insurer Allstate has reported estimated catastrophe losses of $230 million ($182 million after-tax) for the month of June, taking second quarter losses to $2.12 billion ($1.67 billion after-tax), and bringing total catastrophe losses for June year-to-date to $2.85 billion, pre-tax ($2.25 billion after-tax). According to Allstate, the June ... Read the full article
van der Wyck named CEO of exit protection specialist VDV-IC
18th July 2024
Alex van der Wyck has been named the new CEO of Vunderink de Vries Insurance Consultants (VDV-IC), a new division of Vunderink De Vries (VDV). van der Wyck joins a team of specialised professionals with over 20 years of experience in the field of Management Equity Plans. The VDV-IC team is equipped ... Read the full article
State Farm cements position as top US P&C insurer
18th July 2024
Ranked by 2023 total net premiums written (NPW), State Farm retains the top position in AM Best’s rankings of the top US Property and Casualty (P&C) underwriters, with its total NPW rising by a significant 19.1% to reach $92.6 billion in the year. Our directory of the ... Read the full article
Everest expands its alternative capital business with launch of Mt. Logan Capital Management
18th July 2024
Bermuda-based insurer and reinsurer Everest Group has unveiled a new structure for its alternative reinsurance capital business, transforming it into a multi-vehicle capital management platform via the launch of Mt. Logan Capital Management, Ltd. (MLCM). The new platform aims to provide broad access and increase attractive opportunities for investors. MLMC, which includes ... Read the full article
XPT appoints Gina Marquez as AVP of Personal Lines
18th July 2024
XPT Specialty, a wholesale broker for commercial and personal insurance, has announced the appointment of Gina Marquez as Associate Vice President (AVP) of Personal Lines. Marquez’s addition to XPT Specialty will enhance the company’s commitment to delivering high-quality services. Suzette Torres, recently appointed Vice President of Personal Lines at XPT, expressed her ... Read the full article
Guy Carpenter sees 10% revenue increase in Q2’24
18th July 2024
The reinsurance broking arm of Marsh McLennan (MMC), Guy Carpenter, generated revenue of $632 million in the second quarter of 2024, an increase of 10%, or 11% on an underlying basis, contributing to another strong quarter for one of the world's largest re/insurance brokers. Guy Carpenter sits within MMC's Risk & ... Read the full article
Stable performance for PPL new platform following transitioning challenges
18th July 2024
Placing Platform Limited (PPL) has confirmed continued strong and stable performance during peak June and July renewals following remediation and performance initiatives that resulted in enhanced platform performance. PPL clients had experienced a challenging Q4 2023 and initial start to 2024 after transitioning to the new platform, Next Gen, the ... Read the full article
Intact bolsters senior leadership with two appointments
18th July 2024
Intact Insurance Specialty Solutions, the U.S. insurance subsidiary of Intact Financial Corporation, has named Kirk Garrett as President of Striior Insurance Solutions. Consequently, Tony Falcone has been promoted to President of Intact's Inland Marine business. Striior Insurance Solutions is a managing general agent and a subsidiary of Intact Insurance Group USA LLC ... Read the full article
Global P&C reinsurance market outlook positive despite looming headwinds
18th July 2024
Analysts at Morningstar DBRS have noted that the company's outlook for the global P&C reinsurance market remains positive despite looming headwinds such as natural catastrophe events, interest rate volatility, and potential geopolitical uncertainty. According to the analysts, global P&C reinsurers reported strong underwriting and investment profitability in Q1 of 2024, benefiting ... Read the full article
VIG’s Liane Hirner re-elected to EIOPA’s IRSG
18th July 2024
Liane Hirner has been re-elected for another four-year term to the Insurance and Reinsurance Stakeholder Group (IRSG) of the European Insurance and Occupational Pensions Authority (EIOPA). Hirner is a member of the Managing Board of Directors and CFRO of Vienna Insurance Group (VIG). In her role at EIOPA, she will help develop ... Read the full article
Organisations not moving fast enough to address global mega trends, Aon
18th July 2024
Almost three quarters (72%) of business leaders believe that their businesses are not moving fast enough to address risks associated with global megatrends across trade, technology, weather and workforce, according to a recent survey by re/insurance broker, Aon. Aon's survey, which gathered insights from C-suite and business executives in North America, ... Read the full article
LM Re appoints Mark De La Mare as Head of Australia and New Zealand
18th July 2024
LM Re, the reinsurance arm of Liberty Mutual, has appointed Mark De La Mare to the role of Head of Australia and New Zealand, effective October 2024. De La Mare, who will report to James Green, Head of Property, London, and John McCabe, Chief Operating Officer, Asia Pacific, will be leading ... Read the full article
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