Reinsurance News
Briggs promoted to VP Strategic Innovation & Emerging Markets, AMG Actuary, The Standard
24th April 2024
Julie Briggs has been promoted to the role of vice president of Strategic Innovation and Emerging Markets and Asset Management Group Actuary, at Standard Insurance Company (The Standard). In her new role, she is expected to be responsible for the leadership of all AMG actuarial and finance functions. She will also work ... Read the full article
IQUW unveils new combined FI and Cyber solution, FortiFI
24th April 2024
IQUW, the property and specialty re/insurer has launched FortiFI, the company's new Financial Institutions (FI) wording featuring integrated cyber coverage, specifically tailored for US clients. According to the announcement, FortiFI will focus on supporting the needs of small to mid-market financial institutions, with coverage ranging from corporate finance and non-bank lenders to ... Read the full article
Inigo’s CoR strengthens to 85.5% as GWP surpasses $1bn in 2023
24th April 2024
Specialist insurer Inigo Limited has surpassed $1 billion in gross written premium (GWP) in its third year of operation, as the company announces a significant, more than 400% rise in profit after tax of $144.5 million for the full year 2023. All in all, GWP rose by 35.2% to $1.1 billion ... Read the full article
Chubb reports Q1’24 net income increase and P&C CoR of 86%
24th April 2024
Global insurer Chubb has reported a net income increase of 13.3% to $2.14 billion for the first quarter of 2024, supported by a stronger performance in both its property and casualty (P&C) and Life insurance businesses in the period. As well as the rise in net income, Chubb has reported core ... Read the full article
Cowbell unveils new GenAI solution to optimize underwriting workflows
24th April 2024
Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs), has unveiled Prime Tech with Cowbell Co-Pilot, a generative AI solution built into the underwriting process of Prime Tech. Prime Tech is Cowbell's adaptive cyber insurance offering that combines Prime 250 cyber risk insurance with Technology Errors and Omissions ... Read the full article
Supercede promotes Tom Spier to Chief Commercial Officer
24th April 2024
Supercede, a reinsurance tech firm, has announced the promotion of Tom Spier to the role of Chief Commercial Officer (CCO) following a year of growth. In his new capacity, Spier will spearhead the expansion of Supercede’s go-to-market teams and operations. Jerad Leigh, CEO of Supercede, expresses his enthusiasm for Spier’s promotion, highlighting, ... Read the full article
Ping An’s operating profit rises to $5.3bn in Q1’24
24th April 2024
Ping An has announced a rise in operating profit for Q1 2024 to RMB38,709 million (USD 5.34bn) on the back of a solid performance and growth in both its Property & Casualty (P&C) and Life & Health (L&H) insurance businesses. The Chinese insurers’ P&C segment sustained steady growth and maintained high ... Read the full article
Zurich NA names Higginbotham as Head of Professional Liability & Cyber, US National Accounts
24th April 2024
Zurich North America, the commercial property and casualty insurer, has appointed Kara Higginbotham as the Head of Professional Liability and Cyber for U.S. National Accounts. Higginbotham will report to Brian Zink, the Head of Financial Lines, U.S. National Accounts. She will also continue leading the Corporate Accounts team until her successor ... Read the full article
Chubb acquiring pet insurance MGA from Aon
24th April 2024
Global insurer Chubb has announced its acquisition of Healthy Paws, a managing general agent (MGA) specialising in pet insurance, from insurance and reinsurance broker Aon. Chubb has been the exclusive underwriter of the Healthy Paws pet insurance program for Aon since 2013, establishing a longstanding relationship between the two companies. This ... Read the full article
April storms expected to increase claims & reinsurance costs for GCC insurers: Moody’s
23rd April 2024
The April storms that struck the United Arab Emirates, Oman, Saudi Arabia and other Gulf Cooperation Council (GCC) countries are expected to "push up" local insurers’ claims and reinsurance costs, say's Moody's. Analysts noted that smaller insurers with more marginal profitability will be most impacted. However, while insurers are expected to only ... Read the full article
Parametric re/insurance a natural fit for Asia region: Inver Re’s Johansmeyer
23rd April 2024
With natural disasters being on the rise across developing states in Asia, the implementation of parametric insurance and reinsurance appears to be a natural fit for the region, according to Tom Johansmeyer, Global Head of Index Classes, Inver Re. A recent whitepaper authored by Johansmeyer explains that while traditional insurance usually ... Read the full article
Buy-in & buy-out volumes climb to £28bn in H2’23, Hymans Robertson
23rd April 2024
Hymans Robertson has revealed that the total value of buy-in and buy-out deals completed in the second half of 2023 was just under £28 billion, which means that the total for the year to 31 December 2023 was £49.1 billion, setting an all-time high for both the number and the ... Read the full article
Industry veteran Ginny Inscore joins Topsail Re as a Reinsurance Accountant
23rd April 2024
Cayman Islands-based reinsurer Topsail Re has hired Ginny Inscore as a Reinsurance Accountant. Overall, she brings 18 years of industry expertise working in the reinsurance field as an Assistant Vice President at Willis Re Inc., towards her new role. During her time at Willis Re, she worked in both accounting and claims, as well ... Read the full article
EIOPA’s Hielkema discusses insurers’ vital role in climate change mitigation
23rd April 2024
At the IIF 2024 – ESG in Insurance Conference, Petra Hielkema, Chairperson of the European Insurance and Occupational Pensions Authority, emphasised insurers' pivotal role in combating climate change by educating society, factoring in risks, investing wisely, and promoting resilient behaviours among consumers. The frequency of natural disasters has tripled in the ... Read the full article
W. R. Berkley reports Q1’24 combined ratio of 88.8% as underwriting income rises
23rd April 2024
Property and casualty re/insurer W. R. Berkley Corporation has reported a Q1 2024 combined ratio of 88.8%, including current accident year catastrophe losses of $30.5 million, leading to a 31.8% rise in pre-tax underwriting income to $309 million. The insurer’s gross premiums written (GWP) were $3.4 billion for Q1 2024, compared ... Read the full article
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