Reinsurance News
Generali sees Q1 GWP grow to €26.4bn as operating result improves
21st May 2024
Generali has revealed that in Q1 of 2024, its gross written premiums (GWP) increased 21.4% from the previous year to €26.4 billion, driven by strong performances in both the Life and P&C segments. Broken down, GWP in the Life segment in Q1 of 2024 were €16.9 billion, up 28.4% from the ... Read the full article
Wright and McLaughlin join WTW’s Strategic Client Engagement Leadership team
21st May 2024
Global broker WTW, has appointed two new members to the Strategic Client Engagement Leadership (SCEL) team, Chad Wright and Conor McLaughlin. Wright will serve as a Strategic Client Engagement Leader while McLaughlin will take over the role of Global Client Advocate, both within Corporate Risk and Broking in North America (CRB ... Read the full article
IUA supports ICAEW’s professional indemnity insurance reforms for UK accountants
21st May 2024
The International Underwriting Association (IUA) welcomes the professional indemnity insurance reforms for accountants in the UK proposed by The Institute of Chartered Accountants in England and Wales (ICAEW) Regulatory Board, the organisation recently announced. These reforms include plans to increase minimum limits of cover to £2 million and give smaller firms ... Read the full article
Dubai’s DIFC continues to strengthen its re/insurance capabilities: Arif Amiri
21st May 2024
Arif Amiri, CEO of the Dubai International Financial Centre (DIFC) Authority, provides insights into the reinsurance industry. From the expanding opportunities in the MEASA region to the emergence of Managing General Agents (MGAs), Amiri explores key developments influencing the industry. “Players within the insurance value chain are experiencing a surge in ... Read the full article
Bindu Crandall named CMO for Duck Creek Technologies
21st May 2024
Duck Creek Technologies, a provider of SaaS-delivered software to the property and casualty (P&C) arena, has announced the appointment of Bindu Crandall as Chief Marketing Officer (CMO). In her new role, Crandall will be responsible for overseeing Duck Creek’s strategic marketing and branding efforts driving the company’s global expansion and leadership ... Read the full article
Optimism amongst risk managers led to deprioritisation of core risk management: Origami Risk
21st May 2024
Origami Risk, the risk, safety, and insurance Software as a Service (SaaS) technology firm, in its third annual State of Risk report, has disclosed the trend in deprioritisation of core risk management activities due to the increased optimism among risk managers. The firm polled 240 risk professionals across the United States ... Read the full article
“Highly active” 2024 hurricane season on the horizon, says Munich Re
20th May 2024
Global reinsurance giant Munich Re has indicated that the 2024 hurricane season in the North Atlantic is expected to be highly active, as current forecasts are suggesting that the number of tropical cyclones could be "significantly higher than the long-term average." In a recent report released by the firm, it explains ... Read the full article
Ageas to acquire 10% of Taiping Pension’s enlarged share capital
20th May 2024
Ageas has announced that it has finalised an agreement with China Taiping Insurance Holdings (CITH), in order to subscribe to the capital increase of its wholly controlled subsidiary Taiping Pension Co., Ltd (TPP) for a total consideration of RMB 1,075 million (around €137 million). After closing of the transaction, Ageas will ... Read the full article
ZEP-RE expands Planet collaboration for drought insurance in Horn of Africa
20th May 2024
Today, a prominent provider of daily Earth data and insights, Planet Labs PBC, announced a contract renewal with ZEP-RE, an African reinsurance firm headquartered in Nairobi, Kenya. This renewed collaboration builds on a successful first year of partnership, using Planet's insurance solutions to enhance drought risk management in the Horn of ... Read the full article
Paragon Insurance & Ascot Group partner to deliver client solutions
20th May 2024
National multi-line managing general agent (MGA), Paragon Insurance Holdings LLC, has entered into a partnership with Ascot Group, which is set to leverage both of the organisations strengths and capacities. In its first program partnership, Ascot will support Paragon’s public entity casualty insurance program, Trident Public Risk Solutions (Trident). Ultimately, this collaboration ... Read the full article
Rising insurance premiums’ impact on US home prices: S&P
20th May 2024
The increasing frequency of climate-related events in the US is driving up insurance premiums in certain areas, but it's unclear how this affects home prices and affordability, prompting the need for further analysis, according to analysts at S&P Global Ratings. S&P highlights significant differences in home insurance costs, partly based on ... Read the full article
Howden acquires LatAm parametric insurance specialist MiCRO
20th May 2024
Howden has acquired MiCRO, a microinsurance specialist that designs and implements parametric insurance coverage for underserved populations in Latin America against natural catastrophes. MiCRO was founded by Mercy Corps and Fonkoze in the aftermath of the 2010 Haiti Earthquake and has since grown to operate in Guatemala, El Salvador, Colombia and ... Read the full article
Sompo Intl. reports stronger P&C combined ratio in FY’23 results
20th May 2024
Bermuda-based specialty re/insurer Sompo International Holdings has reported that the financial year 2023 combined ratio for commercial property & casualty (P&C) improved to 91.8% from 92.5%, driven by improved accident year loss ratios and lower catastrophe losses. The stronger combined ratio is reflected in a rise in underwriting income from $667.3 ... Read the full article
Arch Insurance International welcomes new Head for Third-Party Claims
20th May 2024
Laura Brahams ascends to Head of Third-Party Claims at Arch Insurance International following Barbara Rizzi’s elevation to Chief Claims Officer. Taking on her new position, Brahams will oversee various sectors including casualty, cyber, financial lines, healthcare, intangible assets, and professional liability. Operating from London, she will report directly to Rizzi, Chief ... Read the full article
MS Amlin’s 2023 net income rises £316m YoY as CoR drops to 89.5%
20th May 2024
MS Amlin has reported a 2023 net income of £509 million, marking an increase of £316 million from 2022, while its combined ratio fell 7.6 points to 89.5%. The firm noted that its improved net income in 2023 also included the positive impact of £75 million from recognising deferred tax assets ... Read the full article
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