Reinsurance News
Martello Re eyes growth with $1.3bn capital raise
23rd July 2024
Martello Re Limited, the Bermuda-based Class E life and annuity reinsurer, has successfully raised $1.3 billion across a second round of equity funding and the upsizing of its current credit facility, enabling the firm to provide support to additional cedants and selectively expand into new lines and regions. It was ... Read the full article
Marilena Rodriguez Forero to lead newly launched DUAL Latin America
23rd July 2024
DUAL, the specialist underwriting arm of Howden Group Holdings, has announced the appointment of Marilena Rodriguez Forero as CEO for its newly established region, DUAL Latin America, effective 1 August 2024. Rodriguez Forero brings over three decades of industry experience and joins DUAL from AXA where she served as P&C Underwriting ... Read the full article
Markel and mea announce strategic partnership to enhance underwriting processes
23rd July 2024
Markel, a global specialty insurer, and mea, an AI-driven platform for insurers, have announced a new strategic partnership, leveraging mea’s GenAI solution to enhance its underwriting processes in International Wholesale operations. Martin Henley, CEO at mea platform, said: “We are very excited to embark on this new partnership with Markel and ... Read the full article
Brown & Brown’s net income climbs to $257m in Q2 results
23rd July 2024
Brown & Brown, the insurance brokerage, has reported its results for the second quarter of 2024, which includes a net income of $257 million, representing a substantial increase from the previous year's $190 million. At the same time, revenues for Q2 2024 under U.S. generally accepted accounting principles (GAAP) sat at ... Read the full article
Robbie MacDonald named IQUW Head of Property
23rd July 2024
IQUW, a property and specialty re/insurer, has announced the promotion of Robbie MacDonald from Head of Property, Direct and Facultative (D&F) to Head of Property. MacDonald started his former role in 2023, where he co-lead IQUW Property alongside Head of Property, Delegated Authority (DA), Tom Hennessey. Hennessey will continue in his current ... Read the full article
W. R. Berkley reports record NPW and investment income in Q2’24
23rd July 2024
Insurance holding company W. R. Berkley Corporation generated record net premiums written (NPW) of more than $3.1 billion in the second quarter of 2024, as net investment income increased by almost 52% to a new record. As NPW grew more than 11% year-on-year, the firm's gross premium written (GPW) increased from ... Read the full article
Fathom’s flood maps now available in Swiss Re Reinsurance Solutions’ CatNet
23rd July 2024
Swiss Re Reinsurance Solutions has revealed that Fathom's advanced Global, UK, and Japan flood maps are now available within the CatNet risk assessment platform. If you recall, the global reinsurance giant acquired Fathom, the Bristol, UK-based provider of water risk intelligence and flood models back in December of 2023. At the ... Read the full article
GC’s Laurent Rousseau joins Cytora’s global advisory board
23rd July 2024
Cytora, the digital risk processing platform, has bolstered its global advisory board with the addition of industry veteran Laurent Rousseau, Guy Carpenter CEO of EMEA and Global Capital Solutions (part of Marsh McLennan). A renowned figure across the sector, Rousseau joined Guy Carpenter in June 2023, following a near 13-year ... Read the full article
Berkshire Hathaway absent, Bermuda & collateralised reinsurers dominate Florida Citizens renewal
23rd July 2024
After taking a $1 billion slice in 2023, it's notable that Berkshire Hathaway did not participate in Florida Citizens Property Insurance Corporation's 2024 catastrophe reinsurance renewal, which was dominated by Bermuda-based and collateralised reinsurers. As we reported previously, Florida’s property insurer of last resort secured a cost-effective risk transfer program ... Read the full article
RLI sees Q2 underwriting income climb to $70m as combined ratio improves
23rd July 2024
In its Q2 2024 results, RLI Corp has revealed that its underwriting income increased to $70 million on an 81.5 combined ratio, up from $41.2 million on an 87.2 combined ratio in Q2 of 2023. RLI's Property segment reportedly made up $53.2 million of the total underwriting income, while the Casualty ... Read the full article
No change to current combined ratio guidance from global IT outage: Beazley
23rd July 2024
Beazley has noted that despite its position as a leading cyber insurer, the recent global IT outage event will not change its current undiscounted combined ratio guidance of low-80s for its full year 2024 results. For those unaware, the outage was caused by a security company called CrowdStrike, which sent out ... Read the full article
SiriusPoint names AXIS’ Inmaculada Gonzalez as Global Head of Ceded Reinsurance
23rd July 2024
SiriusPoint Ltd., a global specialty re/insurer, has appointed Inmaculada Gonzalez as Global Head of Ceded Reinsurance, effective August 19th, 2024. Gonzalez succeeds Habib Kattan, who will leave on December 31st, 2024, following a period of transition. Gonzalez will be based in New York and report to David Govrin, Group President and ... Read the full article
Floodbase launches national flood product to help relief and recovery in continental U.S.
23rd July 2024
Floodbase, a climate adaption technology company, has launched a rapid flood response data product covering flood events in continental U.S. which will be available starting 1st August, 2024. The service will provide a near-real-time flood hazard layer to government and commercial clients that conduct damage assessments or visualise impacts. It aims ... Read the full article
The Baldwin Group announces three executive hires to lead UCTS segment
23rd July 2024
The Baldwin Group, formerly known as BRP Group, has announced the appointment of three new executives to lead the MGA and non-MGA segments within the company's Underwriting, Capacity, and Technology Solutions (UCTS) Operating Group as it continues to grow. Firstly, Amy Carlisle has been named President of MGA Solutions at Millennial ... Read the full article
The Mutual Group names Coleman Johnson CUO
23rd July 2024
TMG Insurance Services, LLC (The Mutual Group), an integrated insurance operations platform serving the mutual industry, has announced the appointment of Coleman Johnson as Senior Vice President and Chief Underwriting Officer. In his new role, Johnson will lead the strategy, governance, and performance of underwriting functions for The Mutual Group, driving ... Read the full article
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