Reinsurance News
Swiss Re veteran Amitabha Ray appointed as CEO of India Branch
19th March 2024
Swiss Re, the global reinsurance firm, has appointed Amitabha Ray as the Chief Executive Officer (CEO) of the Swiss Re India Branch, effective April 1st, 2024, subject to regulatory approvals. Ray will be based in Mumbai and report to Victor Kuk, Head P&C Reinsurance SID. He succeeds Hadi Riachi, who takes ... Read the full article
Everest Insurance Intl. appoints Monique Kooijman as Head of Netherlands & Northern Europe
19th March 2024
Everest Insurance International, a division of Bermuda-based insurer and reinsurer Everest Group, Ltd., has recently appointed Monique Kooijman as Head of Netherlands and Northern Europe. In a recent announcement, Everest expressed its enthusiasm for Kooijman joining the team, stating, “Monique’s leadership experience, industry knowledge and local market expertise will be invaluable ... Read the full article
Milliman reports increase in pension risk transfer costs in Feb
19th March 2024
Milliman, a global consulting and actuarial firm, has recently released the results of its Milliman Pension Buyout Index (MPBI), highlighting a slight increase in pension risk transfer costs at the end of February. As the pension risk transfer (PRT) market grows, it's crucial for plan sponsors considering shifting retiree pension obligations ... Read the full article
FWD Group sees operating profit growth in 2023
19th March 2024
FWD Group has announced its 2023 financial results, reporting $372 million in operating profit after tax, a 27% increase from 2022’s $299 million, and a new business value of $991 million, up 22% compared to the prior year. Huynh Thanh Phong, Group Chief Executive Officer and Executive Director of FWD Group, ... Read the full article
Novatae Risk acquires Bretton Woods International
19th March 2024
Novatae Risk Group, the wholesale insurance brokerage, managing general agency and program manager, has completed its acquisition of Bretton Woods International (BWI) of London, England. BWI is a specialized insurance broker focused on open market and program placements, covering complex contingency, accident & health, cyber, professional liability, management risk, and general ... Read the full article
The American Club reports stable renewal results amid challenges
19th March 2024
The American Club (the Club), a US-domiciled mutual protection and indemnity club, has reported slight decreases in its year-on-year renewal results, indicating overall stability despite recent challenges. For the Club's Class I entries, it's reported that gross tonnage has decreased by approximately $2.5 million compared to last year, now standing at ... Read the full article
Gallagher Re names Flasinski CEO of NA region, Bradshaw assumes Chairman role
18th March 2024
Reinsurance broker Gallagher Re has appointed Brian Flasinski as Chief Executive Officer of the North American region, succeeding Jim Bradshaw who is set to assume the role of Chairman, Gallagher Re North America. According to the firm, both appointments will become effective after a transition period later this year. Flasinski joined Gallagher ... Read the full article
Cowen to lead Chubb’s newly launched global transactional risk platform
18th March 2024
Global insurer Chubb has announced the launch of International Transactional Risk, a global platform that aims to provide transactional risk liability insurance products across international markets. Josh Cowen, a seasoned mergers and acquisition (M&A) risk insurance professional, will be heading this initiative as Senior Vice President, International Transactional Risk. Based in London, ... Read the full article
Markel announces new role for David Roos
18th March 2024
Markel, the insurance operations within the Markel Group Inc., has announced the promotion of David Roos to Senior Director, Property and Marine for Markel Specialty's Wholesale Southeast region. Roos will report to Steve Girard, Regional President, Southeast region, and will be based out of Markel's Alpharetta, Georgia office. In this new role, ... Read the full article
Hannover Re entering 2024 with stronger balance sheet as it targets net income of at least €2.1bn
18th March 2024
Speaking during Hannover Re's earnings call for the 2023 financial year earlier today, Jean-Jacques Henchoz, the company's chief executive officer (CEO), confirmed that the company is aiming to deliver a group net income of at least €2.1 billion in 2024. He did note however, that this net income expectation is under ... Read the full article
Howden collabs with Cyberwrite to increase cyber resiliency for clients worldwide
18th March 2024
Howden has partnered with cyber insurance technology firm Cyberwrite to increase cyber resiliency for its clients across 50 countries. Founded in 2017, Cyberwrite specialises in providing cyber risk reports, offering brokers the tools to assess the probability of a breach and gauge its potential economic repercussions, as well as tailored recommendations ... Read the full article
Lockton and Campden BRI to help food and drink industry mitigate current and emerging risks
18th March 2024
Independent insurance broker Lockton has announced a global collaboration initiative with food science company Campden BRI to provide the food and drink industry with key risk mitigation support and build resilience in an evolving risk landscape. A number of threats have been affecting the food and drink industry in recent years, ... Read the full article
Miller continues to bolster Fine Art & Specie team with Thorpe appointment
18th March 2024
Independent specialist re/insurance broker, Miller, has expanded its newly created Fine Art and Specie offering by building out a team of sector specialists under the leadership of Annabel Fell-Clark, Head of Fine Art and Specie. The company has confirmed that Lance Thorpe has joined the division, taking on the role of ... Read the full article
MAPFRE seeking average 6% revenue growth, 95-96% CR over next three years
18th March 2024
MAPFRE has revealed that it is targeting average revenue growth of 6% over the next three years, with an aim of exceeding €32 billion in premiums by the end of the three-year period. At the same time, the company is also seeking an 11% return on equity for 2026, as well ... Read the full article
WTW gets USAID funding to develop climate-resilient insurance solution
18th March 2024
Global advisory, broking, and solutions firm WTW has revealed it will receive funding from the U.S. Agency for International Development (USAID) to develop a climate-resilient insurance solution that aims to unlock climate adaptation investment from the private sector. Utilising this new USAID funding, WTW said it will design a pilot facility ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
