Reinsurance News
Arthur J. Gallagher & Co. expands capabilities in Florida with new acquisition
6th February 2024
Arthur J. Gallagher & Co. has acquired Fort Lauderdale, Florida-based The John Galt Insurance Agency, an independent insurance agency, in an undisclosed transaction. The Agency is formed by John Galt Commercial Insurance Agency, LLC and John Galt Insurance Agency, Inc. It provides full-service property/casualty insurance coverages with expertise in commercial and ... Read the full article
VIG Re appoints Tobias Sonndorfer Vice-Chairman of Board of Directors
6th February 2024
VIG Re, the reinsurance company of Vienna Insurance Group, has announced the appointment of Tobias Sonndorfer as Vice-Chairman of the Board of Directors, effective February 1, 2024. In addition to his role as Vice-Chairman, Sonndorfer will also assume the position of Chairman of the company's Executive Committee next to his current ... Read the full article
WTW reports organic revenue growth of 6% for Q4’23
6th February 2024
Global brokerage firm WTW has reported 6% organic revenue growth for the fourth quarter of 2023 to $2.91 billion, while net income for the period rose by 5%, year-on-year, to $623 million. For the full year 2023, WTW achieved 8% organic revenue growth to $9.48 billion, while net income for the ... Read the full article
PERILS raises Turkey earthquakes insured loss estimate to $6.2bn
6th February 2024
Zurich-based catastrophe insurance data provider PERILS AG has updated its insured property market loss estimate for the Kahramanmaras Earthquake Sequence to TRY 117.0 billion, which is approximately $6.2 billion at February 2023 exchange rates. This new loss figure compares to the previous PERILS estimates of TRY 92.8 billion in August ... Read the full article
Marsh names Lorraine Stack as Risk Management Leader, Europe
6th February 2024
Marsh, the insurance broker and risk advising arm of Marsh McLennan, has appointed Lorraine Stack as the Risk Management Leader, Europe, effective immediately. Stack's remit in the new role at Marsh will include responsibility for the portfolio of its largest European clients, supporting them in managing their risk and insurance programmes. She ... Read the full article
Artificial Labs closes £8m Series A+ funding round
6th February 2024
Algorithmic underwriting insurtech, Artificial Labs has raised £8 million in a Series A+ funding round that was led by Augmentum Fintech, with participation from existing investors MS&AD Ventures and FOMCAP IV. From what we understand, Artificial Labs will use the funding to drive growth and continue its rapid expansion across the ... Read the full article
Howden sees organic growth of 13% as FY23 revenue hits £2.4bn
6th February 2024
Global re/insurance broker, Howden Group Holdings, has announced organic growth of 13%, and a 33% rise in revenue to £2.44 billion for the year ended September 30, 2023. Organic growth of 13% is lower than the previous year of 19%, while revenue increased from the £1.84 billion reported for 2022, as ... Read the full article
KatRisk appoints Roger Arnemann to its board of directors
6th February 2024
KatRisk LLC, a catastrophe modelling company founded in 2012, has appointed Roger Arnemann to its board of directors. Arnemann is currently an Executive in Residence at Scale Venture Partners, having previously served as General Manager of Guidewire Analytics. At Guidewire, Arnemann was responsible for building products and driving analytic partnerships, InsurTech investments, ... Read the full article
RiverStone International completes acquisition of Catalina Insurance Ireland
6th February 2024
RiverStone International, the largest provider of legacy solutions in the Lloyd’s market, has completed the acquisition of Catalina Insurance Ireland, an Irish insurance company regulated by the Central Bank of Ireland. RiverStone first announced the acquisition in September of 2023, receiving regulatory approval in January 2024 and officially closing the ... Read the full article
Tysers hires senior brokers to expand MEA and Asia operations
6th February 2024
Specialist insurance broker Tysers has hired Jayees Ibrahim and Elias Nohra in Dubai to expand its Property & Casualty, Construction and Engineering services to clients in the Middle East and Africa (MEA) and Asia. Ibrahim joins Tysers from Aon Re, where he reportedly placed complex risks for clients in MEA and ... Read the full article
Coalition names Laura Stewart UK Claims Leader
6th February 2024
Active cyber insurance provider Coalition, has announced the appointment of Laura Stewart as its first UK Claims Leader, a London-based role. “Coalition’s Active Insurance is a unique solution that helps clients before, during, and after a cyber event. I am delighted to join Coalition at such an exciting time and look ... Read the full article
SCOR grows P&C portfolio 13.6% at Jan reinsurance renewals
6th February 2024
Global reinsurer SCOR saw a rise in estimated gross premium income (EGPI) of 13.6% for P&C business at the January 1st, 2024, reinsurance renewals, above the average Forward 2026 strategic plan assumptions. SCOR notes that in line with its Forward 2026 strategic plan announced in September 2023, the reinsurer grew ... Read the full article
Hanoi Re posts 12% increase in revenue in FY23 results
6th February 2024
Hanoi Reinsurance Joint Stock Corporation (Hanoi Re) has posted a 12% increase in revenue to VND2,990 billion (US$122.8 million) for the full-year 2023, representing a 3% increase from 2022, and a 35% increase in pre-tax profit to VND256 billion. At the same time, Hanoi Re’s total revenue for 2023 is estimated ... Read the full article
WTW names Anthony Borgman as Head of Affinity Great Britain to drive growth
6th February 2024
Global advisory, broking and solutions company WTW, has announced the appointment of Anthony Borgman to the newly created role of Head of Affinity Great Britain. This strategic move marks a significant step in the expansion of WTW's Global Affinity business, following the recent appointment of Paul Lubbers as the US Head ... Read the full article
Gallagher Bassett appoints Manan Sagar as UK CEO
6th February 2024
Gallagher Bassett, the provider of risk and claims management services and a wholly owned subsidiary of Arthur J. Gallagher & Co., has appointed Manan Sagar as Chief Executive Officer (CEO) in the UK. Most recently, Sagar was the Global Head of Insurance at Genesys for more than two years. Here, he ... Read the full article
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