Reinsurance News
Ardonagh will acquire Mansutti S.r.l to expand European presence
2nd May 2024
The Ardonagh Group, an independent insurance broker, has announced that it will acquire Mansutti S.r.l, the commercial lines division of Italian insurance broker Mansutti S.p.A. Founded in 1925, Mansutti S.p.A has established a reputation for serving personal customers through the biggest brands and enterprises in Italy. The brokerage has most recently ... Read the full article
Allianz to extend market visibility with LV= Broker rebrand and new leadership appointment
2nd May 2024
Allianz has announced the rebrand of its personal lines broker business from LV= Broker to Allianz, the latest strategic advance for its brand in the UK. Nicola George, who joined the company recently, will lead this part of the Allianz business as managing director. With around 750,000 customers holding an LV= Broker ... Read the full article
AXA Mansard appoints Ayomide Xavier Iyanda as Head Reinsurance
2nd May 2024
AXA Mansard, a member of the AXA Group, has appointed Ayomide Xavier to the position of Head Reinsurance. With five years of experience in the insurance and reinsurance industry, Iyanda brings a wealth of valuable skills to his new position. Before joining AXA Mansard, Iyanda served as a Reinsurance Analyst at Leadway ... Read the full article
QBE NA launches Healthcare Liability practice for comprehensive coverage
2nd May 2024
QBE North America has launched a specialised Healthcare Liability practice, offering a comprehensive range of coverages tailored to help customers navigate evolving risks and enhance resilience. This initiative aims to address the distinct needs of healthcare organisations. At the forefront of this offering is QBE's flagship Miscellaneous Medical Liability product, the first ... Read the full article
PT Axle Asia rebrands as bolttech
2nd May 2024
PT Axle Asia, an Indonesian insurance broker, has been renamed PT Bolttech Insurance Broker. The rebrand follows the completion of bolttech's acquisition of the majority shareholding in Axle Asia in late 2022. The Financial Services Authority, Otoritas Jasa Keuangan (OJK) has approved this rebrand, which is in line with its goal ... Read the full article
World Insurance Associates appoints Ken Bond as Chief Corporate Development Officer
2nd May 2024
World Insurance Associates LLC (World) has announced the appointment of industry veteran Ken Bond as Chief Corporate Development Officer. In his new capacity, Bond will oversee corporate development for all three of World's businesses, which include retail insurance, retirement plan and wealth management services, and wholesale insurance. Rich Eknoian, Chief Executive Officer ... Read the full article
Florida market in a much better place ahead of renewals but RenRe remains cautious: CEO O’Donnell
1st May 2024
Bermuda-based reinsurer RenaissanceRe (RenRe) is seeing additional demand for reinsurance in Florida, but while the company also anticipates good discipline from the market at the June 1 renewals and feels the Florida market is in a better place, it remains cautious. Speaking recently during RenRe's Q1 2024 earnings call, executives ... Read the full article
Verisk reports Q1 consolidated revenues of $704m
1st May 2024
Verisk has revealed that consolidated revenues in Q1 of 2024 were $704 million, up from $652 million in the previous year. Elsewhere, Verisk's underwriting revenues increased 8.2% in the quarter and 7.8% on an organic constant currency (OCC) basis. The firm explained that this was primarily due to its forms, rules ... Read the full article
BRP becomes The Baldwin Group to demonstrate cohesive structure
1st May 2024
BRP Group has rebranded to the Baldwin Group to reportedly reflect its transformation, growth and integration. The change is effective today, with the firm’s retail brokerage operations, which include the Insurance Advisory Solutions and Mainstreet Insurance Solutions operating segments, also anticipated to transition to The Baldwin Group brand in the coming ... Read the full article
Ardonagh Netherlands welcomes new executive team
1st May 2024
Ardonagh Netherlands, the Dutch arm of independent broking groups, has announced the appointment of its in-country management team to lead the growth of local broking bands Léons Group, Klap Verzekeringsmakelaar and Classicus Private Insurance. The team includes the current CEO of Leons Group, Sunny Léons, who has been appointed Chief Executive ... Read the full article
AXA XL launches program to mitigate risks of assailant events
1st May 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has introduced its Active Assailant Ecosystem Preferred Partners Network to address the increasing threat of mass shootings in the United States and Canada. Recognising the urgent need for comprehensive solutions to mitigate these risks, AXA XL ... Read the full article
Ryan Specialty completes Castel Underwriting acquisition
1st May 2024
International specialty insurance firm, Ryan Specialty has completed the acquisition of Castel Underwriting Agencies Limited, a Managing General Underwriting (MGU) platform, from Arch Financial Holdings (UK) Limited and minority shareholders. Headquartered in London and founded in 2014, Castel consists of thirteen MGUs, each having expertise in a specific product niche. The ... Read the full article
Florida market anticipated to be healthy at upcoming June renewals: Arch CEO
1st May 2024
Commenting on the upcoming June reinsurance renewal in Florida, Marc Grandisson, President, and CEO of Arch Capital Group, expects the state's market to be "well priced" and "very good" on a risk-adjusted basis. As covered by our sister publication Artemis back in April, according to an array of data, Florida ... Read the full article
Canopius Re hires DeCouto & Morgan as CUO & CFO in Bermuda
1st May 2024
Global specialty lines re/insurer Canopius has bolstered its senior leadership team in Bermuda by hiring Jesse DeCouto as Chief Underwriting Officer (CUO) and Tonia Morgan as Chief Financial Officer (CFO) of Canopius Reinsurance Limited (Canopius Re). According to the announcement, Morgan takes up her new role on July 1, succeeding Teresa ... Read the full article
Consumer Watchdog opposes proposal for black-box models in wildfire risk prediction
1st May 2024
Consumer Watchdog opposes Californian Insurance Commissioner Ricardo Lara's proposal to allow insurance companies to use black-box catastrophe models and artificial intelligence (AI) for predicting catastrophic wildfire risks, citing concerns that this approach will increase home insurance rates without transparency or accountability. These concerns were voiced during Consumer Watchdog's testimony at the ... Read the full article
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