Reinsurance News
SiriusPoint reports net income of $90.8m for Q1’24
1st May 2024
Bermuda-domiciled SiriusPoint Ltd., a global specialty re/insurer, has reported Q1 2024 net income of $90.8 million, with core income of $62.4 million, which includes underwriting income of $44.3 million and a combined ratio of 91.4%. The core combined ratio deteriorated from 80.5% in Q1 2023, as did the firm's reported combined ... Read the full article
RenRe’s underwriting income rises as Q1’24 premiums swell with 45% growth in property
1st May 2024
Bermudian RenaissanceRe Holdings Ltd. (RenRe) has reported underwriting income of $541 million with a combined ratio of 77.9% in its first quarter 2024 results, as the reinsurer's premiums swelled as a result of the renewal of business acquired in its takeover of Validus. RenRe explains that Q1 2024 was the first ... Read the full article
BPL appoints Lizzie Thomas as Director to strengthen global broking teams
1st May 2024
BPL has appointed industry veteran Lizzie Thomas as Director to strengthen its broking teams in Europe and the US. In her new role, Thomas will report to James Reynolds, Deputy CEO at BPL, and will collaborate with the company's major financial institution clients across Europe and the US, aligning with BPL's ... Read the full article
Enstar and SiriusPoint agree $400m LPT
1st May 2024
A wholly owned subsidiary of legacy specialist Enstar Group has agreed a $400 million loss portfolio transfer (LPT) with a subsidiary of Bermuda-based re/insurer SiriusPoint to reinsure a portfolio of Workers’ Compensation business covering underwriting years 2018 to 2023. Under the agreement, SiriusPoint will cede net reserves of roughly $400 million, ... Read the full article
DUAL launches new title insurance capability in Asia Pacific
1st May 2024
DUAL Australia is launching a new business line in the Asia Pacific region through its specialised title insurance team, DUAL Asset. Leading this initiative is Chris Hammond, Head of Asia Pacific for DUAL Asset. The focus areas include real estate transactions involving commercial properties in Australia, New Zealand, Hong Kong, and Singapore, ... Read the full article
AF Group appoints Kriss Barronton as COO
1st May 2024
Insurer AF Group has appointed Kriss Barronton, formerly of USAA, as its new Chief Operating Officer (COO). In the new role, Barronton's remit will include leading several key teams including business transformation, loss control, premium audit, service centre and corporate underwriting. Lisa Corless, President and Chief Executive Officer, AF Group, commented on ... Read the full article
James Wilson to lead FRM’s newly launched M&A and Transactional Risks division
1st May 2024
Factor Risk Management (FRM), an independent global advisor and broker of litigation finance and after-the-event legal expenses insurance, has launched its M&A and Transactional Risks division, to be led by James Wilson. Camila Carvalho joins Wilson, who has been appointed Head of M&A and Transactional Risks, as Associate Director. The pair have ... Read the full article
RAA elects Everest’s Williamson as Chair and PartnerRe’s Colello as Vice Chair
30th April 2024
Jim Williamson, Executive Vice President and Group Chief Operating Officer (COO) of insurer and reinsurer Everest has been elected as the Chair of the Reinsurance Association of America (RAA). Williamson was elected Chair at the association's 56th Annual Meeting on April 25th, 2024, with Jon Colello, President of PartnerRe elected as ... Read the full article
McGill and Partners names Price-Draper as Partner in its Financial Lines team
30th April 2024
McGill and Partners has appointed Jack Price-Draper as Partner in its Financial Lines team. Price-Draper joined McGill and Partners in 2020 as an Associate in its Financial Lines team focusing on cyber, financial institutions, professional indemnity, and management liability. Before joining the firm, he spent three years working within the Financial Lines ... Read the full article
Q1 2024 sets record for most ransomware attacks in a first quarter: Corvus
30th April 2024
As per a new report from Corvus Insurance, Q1 2024 has set a record for the most global ransomware attacks in a first quarter. According to the data in Corvus' Q1 2024 Ransomware Report, 1,075 leak site ransomware victims were posted on leak sites during the first quarter, despite the disruption ... Read the full article
Arbol closes $60m Series B funding round to scale parametric insurance
30th April 2024
Climate risk solutions provider Arbol has closed a $60 million Series B funding round, co-led by Giant Ventures and Opera Tech Ventures with participation from Mubadala Capital. Following a year marked by "unprecedented" climate events, Arbol noted that this new funding represents a long overdue moment for climate risk insurance. Through leveraging ... Read the full article
Risk-adjusted economics should be terrific at mid-year renewals and into 2025: Williamson, Everest
30th April 2024
After an excellent outcome for Everest at the January and April 2024 reinsurance renewals, the Bermuda-based firm is expecting "terrific" risk-adjusted economics at the mid-year renewals and a continuation of market discipline, according to Jim Williamson, Executive Vice President (EVP) and Group Chief Operating Officer (COO). Speaking recently during insurer and ... Read the full article
Tokio Marine HCC Intl. appoints Ros Breese to lead new Global Media underwriting division
30th April 2024
Tokio Marine HCC International (TMHCCI), a subsidiary of the Tokio Marine HCC group of companies, has created a Global Media division dedicated to underwriting risks operating in the Media, Film, Television, and Events sectors. Ros Breese has been promoted to Underwriting Director, Media, Film & TV to lead this newly created ... Read the full article
Vincent Pomo joins Northern Re as CUO
30th April 2024
New York and Cayman-based Northern Reinsurance has hired former Everest employee Vincent Pomo as Chief Underwriting Officer (CUO), effective April 29, 2024. An experienced veteran across the sector, Pomo brings over 15 years of experience towards his new role. He rose through the ranks at Everest in a relatively short space of ... Read the full article
AEGIS London partners with Kayna to optimise online quote and bind platform
30th April 2024
AEGIS London has partnered with the award-winning InsurTech Kayna to optimise its online quote and bind platform, Opal Underwriting. AEGIS London currently writes in excess of $120m of premium through its OPAL Underwriting platform per year, much of this for certain types of insurance typically required for borrowers to have in ... Read the full article
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