Reinsurance News
IGI to commence trading at Lloyd’s
8th May 2024
International General Insurance Holdings Ltd. (IGI), the global specialty risks commercial insurer and reinsurer, has announced that it will commence trading at the specialist Lloyd’s re/insurance marketplace for the first time from May 9th, 2024. IGI will trade across multiple business lines, with underwriting teams operating rotationally. The firm will be ... Read the full article
Global Indemnity sees solid rise in net income in Q1’24
8th May 2024
Global Indemnity Group, LLC has posted a net income available to shareholders of $11.3 million for the first quarter of 2024, compared to $2.4 million for the same period in 2023. According to the firm, the increase in net income was essentially driven by strong underwriting results in the Penn-America excess ... Read the full article
Genpact & Amazon (AWS) advance Revol One Financial’s entry into fixed annuity insurance market
8th May 2024
Professional services and solutions firm Genpact has collaborated with Amazon Web Services (AWS) to accelerate annuity provider Revol One Financial's entry into the fixed annuity insurance space. Revol One Financial is the marketing name for Revol One Insurance Company and is committed to revolutionizing customer experience in the fixed annuity insurance ... Read the full article
U.S. personal auto insurers are “furthest ahead” when it comes to innovative processes: AM Best
8th May 2024
A new report from global ratings agency AM Best has highlighted how U.S. personal auto insurers are the furthest ahead when it comes to innovative processes like automated claims management and the use of data to automate underwriting. But, it appears that not all auto writers are at the same level, and ... Read the full article
Will Allen named Executive MD of Capital Advisory, Aon’s Reinsurance Solutions
8th May 2024
Aon, a global insurance and reinsurance broker, has announced the appointment of Will Allen as Executive Managing Director of Capital Advisory within Aon’s Reinsurance Solutions. Allen has over two decades of capital management experience to his new role, having built longstanding relationships with global capital providers, and with a recent focus ... Read the full article
Industry veteran Jim Bryant joins DWF as Partner in Insurance Services
8th May 2024
DWF, a global provider of integrated legal and business services, has announced the appointment of industry veteran Jim Bryant as a Partner in its Insurance Services division. In his new role, Bryant will collaborate with DWF's London Markets team and its global locations. David Abbott, Partner of Insurance Services at DWF, expresses ... Read the full article
Nayms partners with Coinbase for seamless insurance transactions
8th May 2024
Digital insurance marketplace Nayms has partnered with Coinbase, a collaboration that aims to empower insurance companies, reinsurance funds, and capital providers by leveraging on-chain technology for seamless insurance transactions. Nayms will be utilising Coinbase technology stack, which includes Coinbase Prime, Base, and Coinbase Web3 wallet, providing infrastructure that enables insurance entities ... Read the full article
Increasing weather risks demand new strategies and approaches: Aon report
8th May 2024
Aon’s 2024 Client Trends Report outlines four megatrends impacting global business, with one of them being weather, driven by the escalating frequency and severity of extreme events, compelling organisations to manage climate risk in an increasingly holistic way. With climate change escalating the occurrence and intensity of natural disasters and extreme ... Read the full article
TMK and FloraTrace to improve ethical practices in supply chains with new trade product
8th May 2024
Tokio Marine Kiln (TMK) and Rezylient Insurance Agency, a wholly owned subsidiary of FloraTrace, have launched a new trade disruption product aimed to improve ethical practices in global supply chains. With new regulations such as the UFLPA in the US, requiring greater transparency around the origins of imported goods, the new ... Read the full article
Marsh launches tailored insurance solution for EU crypto-asset providers
8th May 2024
Marsh, the insurance broking division of Marsh McLennan, has launched MiCAssure, a tailored insurance solution for crypto-asset service providers within the European Union (EU). This innovative insurance offering is designed for EU-based crypto-asset service providers such as custodians, exchanges, and administrators, who must comply with the forthcoming Markets in Crypto-Assets Regulation ... Read the full article
WTW adds new features to global cyber facility to keep ahead of market trends
8th May 2024
Global insurance and reinsurance broker WTW has unveiled strategic enhancements to its global cyber facility, CyXS facility. The broker launched CyXS in January 2023, aiming to provide capacity and efficiency for clients around the world. Now, WTW has introduced new features for the cyber facility, designed to meet the needs of ... Read the full article
McGill and Partners names Guy as Partner in its Complex P&C and Construction team
8th May 2024
Insurance and reinsurance broker McGill and Partners has appointed George Guy as Partner within the firm's Complex Property, Casualty and Construction team. Guy joined the organisation in 2019 as an Associate within the firm's Construction team. Before he joined McGill and Partners, Guy worked at JLT, where he gained valuable experience in ... Read the full article
Munich Re focused on maintaining improved T&Cs at mid-year renewals: CFO Jurecka
8th May 2024
Christoph Jurecka, Chief Financial Officer (CFO) of Munich Re, stressed this morning that the global reinsurer will continue to be disciplined at the upcoming mid-year reinsurance renewals, and will focus on maintaining the improved terms and conditions (T&Cs) achieved last year. Early this morning, Munich Re released an impressive set ... Read the full article
Evolin launches new terrorism facility led by Chaucer
8th May 2024
London market wholesale insurance broker Evolin Broking has launched a new terrorism facility, Assailant Protect, underwritten at Lloyd’s of London and led by global specialty (re)insurance group, Chaucer. As per Evolin, the facility has up to a $500 million limit per policy for terrorism and can include various optional coverages. It ... Read the full article
The Baldwin Group posts 15% total revenue growth in Q1’24
8th May 2024
The Baldwin Group, formerly known as BRP Group, Inc., has posted their results for the first quarter of 2024, which includes total revenues increasing 15% year over year to $380.4 million, compared to $330.4 million from the prior year quarter. At the same time, the firm posted GAAP net income ... Read the full article
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