Reinsurance News
Aventum names MS Amlin’s Uden Head of Learning & Development
14th June 2024
International re/insurance group Aventum has appointed a new Head of Learning & Development, Jeff Uden. In his new role, Uden will work collaboratively with the wider HR team across all aspects of Aventum’s holistic talent strategy including appraisals and engagement, growth and development, culture and performance, training academy and apprenticeships. With over ... Read the full article
UK cyber insurance market becomes increasingly “buyer-friendly”, Marsh
14th June 2024
The UK cyber insurance market has become increasingly “buyer-friendly”, with an abundance of capacity and intense competition among insurers driving rate decreases, according to Marsh's Q1 2024 cyber insurance report. At the same time, generative AI (GenAI) continues to be a rapidly evolving risk, with its impact on cybersecurity under scrutiny ... Read the full article
Ascendent Re sees Q1 net income increase as assets grow over $100m
14th June 2024
Cayman Islands-based annuity reinsurer Ascendant Re has revealed that its Q1 2024 net income was $18.06 million, up considerably compared to Q4 2023's figure of $6.66 million. Meanwhile, Ascendant Re's total assets increased by $18.05 million in Q1 2024 to $112.27 million. At the same time, the firm's net book value per ... Read the full article
Trisura Group reveals new senior management team
14th June 2024
Trisura Group Ltd, a specialty insurance provider operating in surety, risk solutions, and corporate insurance, announces several senior management appointments across the organisation. Richard Grant, who has been with Trisura Canada since its inception, has been appointed Chief Underwriting Officer. Initially leading the Corporate Insurance practice and most recently serving as ... Read the full article
Dynamic Re partners with Tokio Marine HCC to enhance Financial Lines solutions
14th June 2024
Dynamic Reinsurance (Dynamic Re) recently announced a business synergy agreement with Tokio Marine HCC – Financial Lines to collaborate on joint opportunities within Financial Lines. Dynamic Re, an underwriting agency based in the United States, provides property facultative and treaty reinsurance to brokers and insurance companies in Latin America and the ... Read the full article
AM Best revises Florida Family Insurance Company outlook to stable
14th June 2024
AM Best has revised the outlooks of Florida Family Insurance Company and its subsidiary, Florida Family Home Insurance Company, from negative to stable, a move that reflects improvement in its operating performance due to more strict underwriting guidelines. Together, Florida Family Insurance Company and Florida Family Home Insurance Company, make up ... Read the full article
Malaysian Re and Pacific Life Re extend MoU on sustainable retakaful solutions
14th June 2024
Malaysian Re and Pacific Life Re Limited, Singapore Branch have signed an extension of their Memorandum of Understanding (MoU) on providing sustainable retakaful solutions to Takaful Operators. This collaboration was first established in 2019, and since then, Malaysian Re's Retakaful Division (MRRD) has worked with Pacific Life Re to provide ... Read the full article
Markel names Jamie Carsey as Chief Claims Officer, US & Bermuda
14th June 2024
Markel, the insurance operations within the Markel Group Inc., has appointed Jamie Carsey as Chief Claims Officer to oversee US and Bermuda claims operations within the company's Specialty division. Carsey joined Markel in 2017 and has since held various positions within the insurer, most recently as Senior Managing Director, Claims – ... Read the full article
AM Best expects Asian Re’s underwriting and operating performance to improve
14th June 2024
AM Best, a global credit rating agency for the insurance sector, has reaffirmed Asian Reinsurance Corporation (Asian Re), a regional non-life reinsurer, with a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of “bbb-” (Good), both with a positive outlook. AM Best expects that Asian Re’s execution ... Read the full article
Earnix announces collaboration with Verisk ERC solution
14th June 2024
Earnix, a provider of AI-based SaaS solutions for financial services, has announced a strategic partnership with Verisk, a data analytics and technology provider. This collaboration will allow Earnix to incorporate Verisk's ISO Electronic Rating Content (ERC) into its pricing and rating platform. The integration aims to enhance accuracy, speed up delivery ... Read the full article
CRC Group strengthens team with three new appointments
14th June 2024
CRC Group, a North American wholesale specialty insurance distributor, has announced the appointments of Yoni Armstead, Dylan Kamen, and Lindsay Holmes. These appointments are part of CRC Group's strategic effort to enhance support for retail agency clients across the nation. Yoni Armstead joins CRC as an Underwriting Team Leader. He previously worked ... Read the full article
AXA XL and water management specialist WINT extend partnership
14th June 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, and WINT Water, a provider of cutting-edge water management and leak-prevention solutions, Intelligence have announced the extension of their partnership to mitigate water damage in real estate. The AXA XL-WINT partnership looks to offer an innovative, ... Read the full article
BILTIR report analyses Bermuda’s long-term insurance market status
14th June 2024
The Bermuda International Long Term Insurers and Reinsurers (BILTIR), a trade association with over 70 member (re)insurance companies and service providers, has published a report examining the history and present condition of Bermuda's long-term insurance sector. The report, "Building for the Long Term: Examining the History, Future, and Importance of Bermuda’s ... Read the full article
Strong outlook for Lloyd’s market in 2024: Howden
13th June 2024
A recent report by Howden highlights that the conditions and prospects for the Lloyd’s market remain strong in 2024, characterised by strong rate adequacy across nearly all business classes, and minimal indications of new capital entering the market that could disrupt this stability. Howden notes that Lloyd’s has achieved excellent underwriting ... Read the full article
Swiss Re & Appian expand partnership for underwriting workbench in EMEA & Asia
13th June 2024
In partnership with reinsurer Swiss Re, Appian, a technology company known for its software solutions, is expanding its Connected Underwriting Life Workbench solution into select countries across Asia Pacific, Europe, the Middle East, and Africa (EMEA). Integrated with Swiss Re's automated life insurance underwriting solution, Magnum, the Appian Connected Underwriting Life ... Read the full article
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