Reinsurance News
Allianz Re names Silvia Rimola as Head of Capital and Legacy Solutions
29th April 2024
Allianz Reinsurance, part of global insurer Allianz, has named Silvia Rimola as Head of Capital and Legacy Solutions, effective April 2024. Rimola first joined Allianz in 2002 as part of the financial department, and has since held numerous roles within the company and its reinsurance arm. This includes time as a life ... Read the full article
WTW partners with Riskonnect to introduce advanced risk diagnostic tool
29th April 2024
WTW, a global insurance and reinsurance broker, has partnered with Riskonnect to launch a new analytical delivery tool that seamlessly connects claims and exposure data through the WTW Risk IQ API (application programming interface). This collaboration aims to provide clients of both organisations with a deeper understanding of their claims data. By ... Read the full article
Argenta appoints Miriam Goddard to its board as non-executive director
29th April 2024
Argenta Syndicate Management Limited (ASML), a subsidiary of Argenta Holdings Limited, has announced the appointment of Miriam Goddard to its board as a non-executive director. John Whiter, chair of the ASML Board, expresses his enthusiasm for Goddard’s appointment, stating, “Together with the rest of the board, I am looking forward to ... Read the full article
AM Best revises UK non-life insurance segment outlook to stable
29th April 2024
Rating agency AM Best revised its outlook on the United Kingdom's non-life insurance segment from negative to stable, as inflation is expected to decrease closer to the Bank of England’s 2% target in mid-2024, which should ease the pressure on claims costs observed in 2023. The 12-month consumer price index (CPI) ... Read the full article
Southern African nations to receive insurance payouts from historic drought
29th April 2024
African Risk Capacity (ARC) has revealed that Malawi, Mozambique, Zambia and Zimbabwe are likely to receive insurance payouts from the ongoing drought in the region, which is one of the worst in decades. In a recent meeting between ARC and its partners, stakeholders reportedly discussed the response to the drought emergency, ... Read the full article
Marsh enhances Cyber ECHO facility with additional $25m layer of capacity
29th April 2024
Insurance broker Marsh's Cyber ECHO facility, which is underwritten by Lloyd's insurers and enables clients to access capacity for complex cyber and technology risk exposures in any territory licensed by Lloyd’s, now provides up to $125 million of excess insurance capacity. Marsh today announced an additional $25 million layer to its ... Read the full article
Gallagher Re promotes Gina Butterworth to Global Transformation Director
29th April 2024
Reinsurance broker Gallagher Re has announced the promotion of Gina Butterworth to the position of Global Transformation Director. With nearly three decades of experience in the industry, Butterworth is a seasoned senior executive known for her strong leadership and management skills. Her extensive background makes her well-equipped to excel in her ... Read the full article
CatX partners with CyberCube to enhance its cyber capabilities
29th April 2024
CatX, the digital marketplace that connects (re)insurers and brokers with alternative capital, has announced it will enhance its capabilities through a new collaboration with CyberCube. The partnership will reportedly enable the integration of CyberCube’s Portfolio Manager, a scenario-based catastrophe model that empowers portfolio-level insights for senior leadership decision-making, into CatX’s marketplace. CatX's ... Read the full article
Beazley’s Q1 insurance written premiums increase 7% to $1.48bn
29th April 2024
Specialist insurer Beazley has revealed that insurance written premiums in Q1 of 2024 increased by 7% compared to the previous year, reaching $1.48 billion. Adrian Cox, Beazley's Chief Executive Officer, noted that it has been a "solid start to the year" with the firm demonstrating its ability to grow whilst exercising ... Read the full article
Dubai’s DIFC records highest GWP in its history at almost $2.6bn in 2023
29th April 2024
The Dubai International Financial Centre (DIFC) has reported the highest gross written premiums (GWP) in its history at close to $2.6 billion in 2023, an increase of 23% on the prior year's $2.1 billion. Alongside the highest GWP in 20 years, the DIFC also saw a 20% rise in registration of ... Read the full article
NSF aims to enhance terrorism and cyber risk insurance modelling
29th April 2024
The U.S. National Science Foundation (NSF) aims to catalyse research in areas that enhance the insurance sector's capacity to model and underwrite terrorism and catastrophic cyber risks. To achieve this goal, the NSF has issued a Dear Colleague Letter (DCL) to the Industry-University Cooperative Research Center (IUCRC) program. This DCL is jointly ... Read the full article
Specialty Program Group’s Beacon Hill hires Dastis as VP of Northeast Region
29th April 2024
Beacon Hill Associates, a division of Specialty Program Group LLC (Beacon Hill), has hired Paul Dastis as Vice President within the firm's Northeast Region. Based in New York, Dastis brings 30 years of experience towards his new role. Dastis joins the firm following a 10-year tenure at property & ... Read the full article
The Indian government has plans to sell 10% of GIC Re in FY 2025
29th April 2024
The Central government of India may sell up to 10% stake in the state-run reinsurer General Insurance Corporation (GIC Re) in the current financial year, a senior official told Financial Express. The officials commented, “GIC Re received a very good response in the roadshows held recently to apprise potential investors of ... Read the full article
Sayata launches AI-powered risk engine to broaden carrier appetites while protecting loss ratios
29th April 2024
Sayata, a marketplace for insurance brokers and carriers, aims to revolutionise small commercial insurance underwriting with the launch of the Sayata Risk Engine, an AI-powered platform. This new proprietary risk assessment solution is to transform how insurance carriers and MGAs assess and underwrite risk, according to Sayata. It uses sophisticated artificial intelligence ... Read the full article
Africa Specialty Risks launches Syndicate 2454, first at Lloyd’s with an Africa focus
29th April 2024
Africa Specialty Risks (ASR), the pan-African-focused reinsurance group, has announced the launch of ASR Syndicate 2454 at Lloyd’s, which will be the first in that market to have an African focus on the business it underwrites. ASR Syndicate 2454 will underwriting business across Africa and will have a planned gross premium ... Read the full article
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