Reinsurance News
KatRisk launches new SCS model amid rising losses
19th September 2024
KatRisk, a global catastrophe modelling company, has launched a new Severe Convective Storm (SCS) model to tackle the increasing risks associated with these storms. With SCS events causing $70 billion in insured losses globally in 2023, KatRisk aims to enhance the understanding and management of these risks. The SCS model improves risk ... Read the full article
HDI Global appoints Ahn as CEO, Hong Kong, Lau becomes Director, APAC Network
19th September 2024
HDI Global SE Hong Kong, a subsidiary of industrial insurer HDI Global has appointed Michael Ahn as its Chief Executive Officer (CEO) effective November 1st, 2024. Simultaneously, Daniel Lau moves to a new role as Director, Asia Pacific Network. Both the appointments are subject to regulatory approvals. Ahn is an industry ... Read the full article
Sir Charles Roxburgh named new Chair of Lloyd’s
19th September 2024
Lloyd’s, the world’s oldest insurance and reinsurance marketplace, has announced that Sir Charles Roxburgh KCB will become its next Chair, effective 1 May, 2025. Roxburgh will be succeeding Bruce Carnegie-Brown, who has held the position since 2017. He brings a wealth of experience from both the UK Government and the private sector, ... Read the full article
US P/C mutual insurers demonstrate strength amid persistent challenges: AM Best
19th September 2024
According to a recent report from AM Best, a credit rating agency specialising in the insurance industry, US property and casualty (P/C) mutual insurance companies have used investment income to help cushion the financial impact of weather-related challenges, which have caused fluctuations in underwriting performance. The latest Best’s Market Segment Report, ... Read the full article
Lockton secures regulatory approval for Colombian reinsurance operations
19th September 2024
Privately held insurance brokerage firm Lockton has entered the Colombian reinsurance market as it has received regulatory approval to operate a reinsurance brokerage business in the country. The new venture is expected to bring numerous benefits to the broker’s clients, including access to a broader range of reinsurance products, enhanced risk ... Read the full article
INSTANDA integrates life offering with Swiss Re’s underwriting platform, Magnum
19th September 2024
INSTANDA, a no-code, digital platform for insurance carriers and managing general agents, has integrated its Life offering with reinsurance giant, Swiss Re's automated underwriting platform, Magnum, enabling the creation of one ecosystem designed to create an all-in-one (online) customer journey. Through extensive expertise and experience within the Life and Health sector, the ... Read the full article
Re/insurers are implementing improving tech tools to identify emerging future casualty cat perils: KBW
19th September 2024
Following meetings with executives at the recently held 2024 Rendez-Vous de Septembre (RVS) in Monte Carlo, KBW has reported that re/insurers are increasingly implementing steadily improving technological tools to identify emerging or future casualty catastrophe perils. Analysts noted that associated insured loss estimates remain very high. As an example, Praedicat, the casualty ... Read the full article
Growth could be challenged when current pricing momentum starts to moderate: Thompson, Gallagher Re
19th September 2024
Growth was a key topic for re/insurers at RVS 2024, Will Thompson, Global Head of Clients of Gallagher Re, commented, but this could be challenged when the current strong pricing momentum begins to moderate. Speaking with Reinsurance News at the annual meeting of the reinsurance industry in Monte Carlo, Thompson said: ... Read the full article
Broker Insights’ Vision platform set to reach £6bn in GPW by end of 2024
19th September 2024
Broker Insights has announced that six years after its launch, brokers have uploaded £5.5 billion of Gross Written Premium (GWP) to its Vision platform, with a target of reaching £6 billion by the end of the year. Vision will now provide insights and data analytics covering over one-third of the UK ... Read the full article
New non-profit Humanity Insured aims to insure 3.6 billion people against climate disasters
19th September 2024
Humanity Insured, a new UK and US non-profit organisation, has launched with the mission of empowering vulnerable communities to become more resilient to the impacts of climate change through the use of effective insurance solutions. Howden, a global insurance intermediary, spearheaded the creation of Humanity Insured, bringing together key players from ... Read the full article
Rokstone appoints Baker Deputy Head of US Casualty, Fitzpatrick becomes Senior Underwriter
19th September 2024
Rokstone, part of the Aventum Group, has made two key appointments within its recently announced US Casualty division, with Ben Baker joining the team as Deputy Head of US Casualty and Alex Fitzpatrick as a Senior Underwriter. Both appointees are well known figures across the market, and will join along with ... Read the full article
AIG names Keith Walsh as Executive Vice President and Chief Financial Officer
19th September 2024
Global insurer American International Group, Inc. (AIG) has named Keith Walsh as Executive Vice President and Chief Financial Officer, effective October 21st, 2024. Walsh will be based out of New York and reports to AIG Chairman & Chief Executive Officer, Peter Zaffino. He joins the Executive Leadership Team as a member ... Read the full article
Supercede unveils major platform upgrade to empower reinsurance professionals
19th September 2024
Reinsurance trading platform Supercede has revealed a significant upgrade of its platform to provide easy access to risk data and mirror the internal workflow of insurers. According to the firm, this platform update marks a significant milestone in its mission to empower reinsurance professionals with cutting-edge technology. The enhancement reportedly introduces an ... Read the full article
French reinsurer CCR Re to become Arundo Re from January
19th September 2024
French reinsurer CCR Re has announced that on January 16th, 2025, its name will officially change to Arundo Re, roughly 18 months after a consortium comprised of SMABTP and MACSF completed the acquisition of a majority shareholding in the firm. Founded in 2016, CCR Re was established to take over the ... Read the full article
SCOR Live Sessions – The (re)insurer of tomorrow
19th September 2024
Paris, France-headquartered reinsurer SCOR is hosting a webinar on October 2nd as part of the company's Live Sessions, during which a panel of top industry executives will explore how the insurance and reinsurance industry is preparing to face the future. Registration is open for SCOR Live Sessions ... Read the full article
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