Reinsurance News
RAA elects Everest’s Williamson as Chair and PartnerRe’s Colello as Vice Chair
30th April 2024
Jim Williamson, Executive Vice President and Group Chief Operating Officer (COO) of insurer and reinsurer Everest has been elected as the Chair of the Reinsurance Association of America (RAA). Williamson was elected Chair at the association's 56th Annual Meeting on April 25th, 2024, with Jon Colello, President of PartnerRe elected as ... Read the full article
McGill and Partners names Price-Draper as Partner in its Financial Lines team
30th April 2024
McGill and Partners has appointed Jack Price-Draper as Partner in its Financial Lines team. Price-Draper joined McGill and Partners in 2020 as an Associate in its Financial Lines team focusing on cyber, financial institutions, professional indemnity, and management liability. Before joining the firm, he spent three years working within the Financial Lines ... Read the full article
Q1 2024 sets record for most ransomware attacks in a first quarter: Corvus
30th April 2024
As per a new report from Corvus Insurance, Q1 2024 has set a record for the most global ransomware attacks in a first quarter. According to the data in Corvus' Q1 2024 Ransomware Report, 1,075 leak site ransomware victims were posted on leak sites during the first quarter, despite the disruption ... Read the full article
Arbol closes $60m Series B funding round to scale parametric insurance
30th April 2024
Climate risk solutions provider Arbol has closed a $60 million Series B funding round, co-led by Giant Ventures and Opera Tech Ventures with participation from Mubadala Capital. Following a year marked by "unprecedented" climate events, Arbol noted that this new funding represents a long overdue moment for climate risk insurance. Through leveraging ... Read the full article
Risk-adjusted economics should be terrific at mid-year renewals and into 2025: Williamson, Everest
30th April 2024
After an excellent outcome for Everest at the January and April 2024 reinsurance renewals, the Bermuda-based firm is expecting "terrific" risk-adjusted economics at the mid-year renewals and a continuation of market discipline, according to Jim Williamson, Executive Vice President (EVP) and Group Chief Operating Officer (COO). Speaking recently during insurer and ... Read the full article
Tokio Marine HCC Intl. appoints Ros Breese to lead new Global Media underwriting division
30th April 2024
Tokio Marine HCC International (TMHCCI), a subsidiary of the Tokio Marine HCC group of companies, has created a Global Media division dedicated to underwriting risks operating in the Media, Film, Television, and Events sectors. Ros Breese has been promoted to Underwriting Director, Media, Film & TV to lead this newly created ... Read the full article
Vincent Pomo joins Northern Re as CUO
30th April 2024
New York and Cayman-based Northern Reinsurance has hired former Everest employee Vincent Pomo as Chief Underwriting Officer (CUO), effective April 29, 2024. An experienced veteran across the sector, Pomo brings over 15 years of experience towards his new role. He rose through the ranks at Everest in a relatively short space of ... Read the full article
AEGIS London partners with Kayna to optimise online quote and bind platform
30th April 2024
AEGIS London has partnered with the award-winning InsurTech Kayna to optimise its online quote and bind platform, Opal Underwriting. AEGIS London currently writes in excess of $120m of premium through its OPAL Underwriting platform per year, much of this for certain types of insurance typically required for borrowers to have in ... Read the full article
QCC report forecasts doubling of global cyber insurance market by 2030
30th April 2024
As per the QualRisk Cyber Insurance Center (QCC) 2024 Global Market Report (GMR), the international cyber insurance market is expected to double by 2030. Daniel Kasper, CEO of QCC, noted that while the US has been the major driver of cyber insurance premiums in the past decade, the bulk of the ... Read the full article
Consilium appoints Aon’s Lucy Moore as Head of Technical & Operations, Delegated Risk
30th April 2024
Consilium, the global speciality re/insurance broking arm of the Aventum Group, has appointed Lucy Moore as the Head of Technical and Operations within its Delegated Risk Solutions division. In her new position, Moore’s remit will include mainly supporting Consilium’s MGA clients by utilising her expertise in complex placements, strong market relationships ... Read the full article
Technology is key amid a volatile market, regulatory and accounting changes: Clearwater’s Wenzhe Sheng
30th April 2024
As Clearwater Analytics works towards revolutionising the world of investing, we spoke with Senior Product Manager for EMEA Prudential Regulations, Wenzhe Sheng, about regulatory and technology trends in the insurance industry amid a volatile investment market environment. Founded in 2004, Clearwater Analytics is a SaaS, full lifecycle investment management solution which ... Read the full article
Aspen realises dip in operating income for Q1 as CoR increases
30th April 2024
In its Q1 2024 results, Aspen Insurance Holdings has revealed an operating income of $103 million, driven by an 86.3% adjusted combined ratio, down marginally from last year's $108 million and adjusted combined ratio of 82.7%. Gross written premiums in Q1 of 2024 were up at $1.23 billion, while net written ... Read the full article
Heritage finalises 2024-25 catastrophe reinsurance program
30th April 2024
Heritage Insurance Holdings has announced the completion of the full placement of its 2024-2025 catastrophe excess-of-loss reinsurance program for its insurance subsidiaries: Heritage Property Casualty Insurance Company, Narragansett Bay Insurance Company, and Zephyr Insurance Company. The total cost of the program is approximately $422.3 million. Last year's $70 million of ... Read the full article
Gallagher Re appoints Hiscox’s Louise Marling as UK COO
30th April 2024
Louise Marling has been named as the successor to Gina Butterworth and will take over as reinsurance broker Gallagher Re's UK Chief Operating Officer (COO), subject to regulatory approvals. It was announced yesterday that Butterworth has been promoted to Global Transformation Director at Gallagher Re. She will be replaced by Marling, ... Read the full article
Everest reports Q1’24 combined ratio of 88.8% amid record underwriting income
30th April 2024
Bermuda-based insurer and reinsurer, Everest Group, Ltd., has reported a Q1 2024 combined ratio of 88.8%, as pre-tax underwriting income reached a record $409 million for the firm, up on the $273 million seen in the prior year period. The re/insurer's gross premiums written (GWP) for Q1 2024 was $4.4 billion, ... 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.
