Reinsurance News
Cyber insurance losses from CrowdStrike outage to be driven by business interruption: Moody’s
29th July 2024
Cyber insurance losses related to the CrowdStrike outage will be driven by business interruption, Moody’s has highlighted in a recent report, who also warned that determining final losses for the industry will be a lengthy process due to cyber insurance policy language not being standardised. Caused by a flawed software update ... Read the full article
SiriusPoint forms new strategic partnership with Hellenic Hull
29th July 2024
SiriusPoint Ltd., a global insurer and reinsurer specialising in niche markets, and Hellenic Hull Management (HMA), a marine hull and machinery underwriter in Greece and Cyprus, have announced a strategic partnership. HMA has been influential in the Greek and Cypriot shipping sectors for the past 30 years. It is noteworthy for ... Read the full article
Donegal Group posts 9.1% increase in NPW, CR sits at 103%
29th July 2024
Donegal Group, the US primary holding company, has posted a 9.1% increase in net premiums written (NPW) in the second quarter of 2024, climbing to $247.2 million, compared to last year's $226.5 million. According to the firm, the increase in NPW represents the combination of a 7.1% growth seen in commercial ... Read the full article
Continental Re reports strong 2023 results as underwriting profit rises 108%
29th July 2024
Pan-African reinsurer Continental Reinsurance Plc has reported a net reinsurance service result, so underwriting profit, of NGN 9.14 billion (USD 5.6m) for 2023, a 108% increase from 2022’s NGN 4.4 billion (USD 2.7m). The firm’s reinsurance revenue increased to NGN 112.46 billion (USD 69.4m), up from NGN 86.36 billion (USD 53.3m) ... Read the full article
InsuranceDekho enters India’s reinsurance broking sector with composite licence
29th July 2024
India-based insurtech InsuranceDekho has received a composite insurance broking licence from the Insurance Regulatory and Development Authority of India, allowing the firm to offer reinsurance broking in addition to its insurance broking services. InsuranceDekho intends to add value in this segment by placing a portion of insurance risk of an insurance ... Read the full article
Resilience appoints Killian Brady as Chief Underwriting Officer
29th July 2024
Resilience, a cyber risk company, has appointed Killian Brady as its new Chief Underwriting Officer, responsible for overseeing all underwriting activities for the company's expanding portfolio that includes middle market and large enterprise clients in the Cyber and Tech E&O sectors. He will also continue his duties as Chief Operating Officer ... Read the full article
Brown & Brown to acquire Quintes from Aquiline Capital Partners
29th July 2024
Brown & Brown, Inc. has entered into an agreement to acquire Quintes Holding B.V. (Quintes) from Aquiline Capital Partners, with the deal expected to finalise in the fourth quarter of 2024. Founded in 2012 by Gijsbert van de Nieuwegiessen, Quintes is one of the largest independent insurance brokers in the Netherlands, ... Read the full article
CNA Financial reports $317m net income in Q2’24, P&C CR hits 94.8%
29th July 2024
Chicago-domiciled insurer, CNA Financial Corporation has reported a net income of $317 million for the second quarter of 2024, a solid increase from the previous year's $283 million. At the same time, the company stated that net investment losses for the quarter were $9 million compared to $25 million ... Read the full article
Sixth Street to acquire Enstar in $5.1bn transaction
29th July 2024
Global insurance group Enstar is set to be acquired by existing investor Sixth Street in a $5.1 billion transaction, with Liberty Strategic Capital, J.C. Flowers & Co. LLC, and other institutional investors participating in the deal. Upon closing of the transaction, Enstar shareholders will receive a total of $338.00 in cash ... Read the full article
HDI Global strengthens business in the Middle East with new Dubai office
29th July 2024
HDI Global, a commercial and specialty lines insurer, has announced the opening of its office in Dubai, after receiving regulatory licence from Dubai Financial Services Authority (DFSA), and the appointment of Willem van Wyk as the Managing Director. The insurer plans to commence its operations from the Dubai International Financial Centre ... Read the full article
Aspen announces changes to its leadership, names Dunleavy Group President
29th July 2024
Bermuda-based insurer and reinsurer Aspen has announced the appointment of Christian Dunleavy as Group President and CEO of Aspen Bermuda Limited, and Mark Pickering as Group Chief Financial Officer & Treasurer. Effective August 1, 2024, both will report to Mark Cloutier, Executive Chairman and Group Chief Executive Officer. In his expanded responsibilities, ... Read the full article
Cyber attacks against UK utility companies up 586% in 2023: Chaucer
29th July 2024
According to data collected by global specialty re/insurer Chaucer, successful cyber attacks against UK utility companies increased to 48 in 2023, representing a 586% increase over the seven cases seen in 2022. The attacks have caused sensitive data belonging to 140,000 individuals to be compromised in the UK, which is a ... Read the full article
New leader appointed for Prague reinsurance operation by Gallagher Re and Renomia
29th July 2024
Jan Hrevus has been named to lead the joint reinsurance initiatives of Gallagher Re, a reinsurance broker, and Renomia, an insurance brokerage in Central and Eastern Europe, in the Czech Republic and across Central & Eastern Europe (CEE). Formerly with VIG Re Prague for a decade, Hrevus most recently served as ... Read the full article
Beazley appoints Jessica Schappell as Head of APAC
29th July 2024
Specialist insurer Beazley has announced the appointment of Jessica Schappell as Head of Asia Pacific (APAC). In her new role, Schappell will report directly to Paul Bantick, Global Head of Cyber Risks at Beazley. She will be responsible for leading the APAC business to achieve Beazley’s growth plans in the region ... Read the full article
Chubb raises retention and top of US property cat reinsurance tower
29th July 2024
Large primary insurer Chubb successfully renewed its Global Property Catastrophe Reinsurance Program for its North American and International operations, significantly raising the retention for the North American program while adding a new layer of per occurrence coverage for named windstorms and earthquakes within Northeast states. Chubb’s renewed global property cat reinsurance ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
