Reinsurance News
Lockton adds Manpreet Gill to its technology specialty
26th March 2024
Independent insurance broker Lockton has announced Manpreet Gill is joining its technology specialty to build and grow a practice focused on developing creative solutions to address a variety of technology-related risks for businesses. Gill brings almost two decades of experience in the insurance industry to his new role. He is joining ... Read the full article
Marsh launches facility offering up to $825m coverage for digital asset custodians
26th March 2024
Marsh, the insurance broker and risk advisor subsidiary of Marsh McLennan, has launched a new global insurance facility providing coverage up to $825 million for digital asset custodians. Developed by Marsh Specialty’s Digital Asset team, this facility is designed to assist organisations storing digital assets offline, as well as those utilising ... Read the full article
Sertis secures $3.2mn in funding to support growth in multifamily insurance market
26th March 2024
Managing general agency (MGA) Sertis has completed an oversubscribed seed funding round, raising $3.2 million for further growth in the multifamily insurance sector. The seed funding round, the MGA highlighted, demonstrates recognition from the industry for its innovative software solutions and strategic business model, as well as Sertis' ability to attract ... Read the full article
FAIR Plan “one event” away from needing a large assessment warns Roach
26th March 2024
The California FAIR Plan Association (FAIR Plan) has experienced historic growth in recent years, as data shows its total exposure has nearly tripled with continued policy growth. This last resort property insurer is dedicated to ensuring that all Californians have access to fundamental property coverage, helping to provide peace of mind ... Read the full article
Enstar gets S&P ‘A’ rating for reinsurer Cavello Bay
26th March 2024
Enstar Group has revealed that S&P Global Ratings has assigned an Insurer Financial Strength Rating of ‘A’ with a stable outlook to its Bermuda-based, wholly-owned subsidiary, Cavello Bay Reinsurance Limited. Matthew Kirk, Enstar’s Chief Financial Officer, commented on the issuance, “The S&P Insurer Financial Strength Rating is further confirmation of our ... Read the full article
Paul Plunkett to lead Acrisure’s New England Region
26th March 2024
Global Fintech company Acrisure has announced the formation of its New England Region, to be led by Paul Plunkett as Managing Partner. The new region will encompass its businesses in Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island and Vermont. Acrisure’s New England presence includes 27 office locations, with nearly 400 employees serving ... Read the full article
HDI Global’s insurance revenue climbs 10% to €9.1bn in 2023, CoR lands at 91.5%
26th March 2024
Industrial insurer HDI Global SE, part of the Talanx Group, has reported insurance revenue increased by 10% in 2023, reaching €9.1 billion, while its combined ratio improved to 91.5%. HDI Global noted that the growth in insurance revenue was primarily driven by the property and liability business, which resulted in an ... Read the full article
2023 global insured losses exceed $100bn for fourth consecutive year: Swiss Re
26th March 2024
The Swiss Re Institute has revealed that global insured losses from natural catastrophes exceeded $100 billion for the fourth consecutive year in 2023, with the earthquake in Turkey and Syria, severe convective storms (SCS) and large-scale urban floods acting as the main drivers. Total global insured losses hit $117 billion in ... Read the full article
MS Amlin appoints Sam Phibbs as Head of Catastrophe Research
26th March 2024
MS Amlin, the Lloyd’s global re/insurer, has announced the appointment of Sam Phibbs as its new Head of Catastrophe Research, reporting to Head of Risk Analytics, Jessica Turner. Phibbs' remit in the new role will include overseeing the syndicate’s catastrophe modelling capabilities across all perils, from hurricanes and flooding to wildfire ... Read the full article
Hannover Re creates new specialty reinsurance business unit
26th March 2024
Global reinsurer Hannover Re has announced it will combine its global business in the areas of cyber and digital, creating a new specialty reinsurance business unit, effective from the 1st of April 2024. According to Hannover Re, the new business unit will further enhance its position as "a trusted business partner" ... Read the full article
Newline Australia opens in Sydney with Beswick as Head of Professional Indemnity
26th March 2024
Specialty insurer Newline Group has expanded into Sydney with the opening of Newline Australia Insurance Pty Ltd, and has named Nicholas Beswick as Head of Professional Indemnity. “Establishing offices in key territories is part of our ongoing strategy to be closer to our distribution partners and clients,” said Bob Pollock, CEO ... Read the full article
Sompo Intl. joins ABIR with CRO Emmanuel Brulé added to Board
26th March 2024
Sompo International Holdings Ltd., a global property and casualty re/insurer, has joined The Association of Bermuda Insurers and Reinsurers (ABIR), increasing the number of members to 32 carriers and four intermediaries. The re/insurer’s entry was marked at a recent Q1 2024 board meeting held on the sidelines of the Bermuda Risk ... Read the full article
PartnerRe reports 2023 combined ratio of 81.6% amid GPW growth
26th March 2024
Bermuda-based reinsurer PartnerRe Ltd. has announced a non-life combined ratio of 81.6% for full year 2023, as the underwriting result hit $1.1 billion, while the life and health (L&H) allocated underwriting result amounted to $159 million. On the back of a solid performance in both segments, PartnerRe has generated net income ... Read the full article
2024 FM Global Resilience Index introduces 6 new risk factors
26th March 2024
FM Global, a commercial property insurer, has recently released its 2024 Resilience Index, highlighting the rapidly evolving nature of risks confronting global businesses with the addition of six new resilience factors. The FM Global Resilience index serves as a tool to safeguard and guide clients' businesses through a dynamic risk environment, ... Read the full article
Verisk integrates with Seek Now to streamline homeowner insurance claims
26th March 2024
Verisk, a global data analytics and technology provider, has strategically integrated with Seek Now, a claims inspection service provider and business intelligence solution in residential and commercial property insurance. This integration aims to expand Verisk’s open ecosystem to offer claims adjusters increased flexibility and streamline the damage assessment process. Seek Now’s ... Read the full article
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