Reinsurance News
NSM Insurance acquires Strategic Underwriters International
11th June 2024
NSM Insurance Group, a global specialty insurance provider, has completed the acquisition of Pennsylvania-domiciled, Strategic Underwriters International (SUI), a managing general agent (MGA) in the casualty facultative reinsurance marketplace. SUI offers facultative casualty reinsurance for several lines of business, including General Liability, Automobile Liability, Excess/Umbrella Liability and Workers' Compensation. NSM stated that ... Read the full article
AXIS names Paul Boulos and Rob Ryan as Heads of Ocean Marine
11th June 2024
Global specialty underwriter and provider of re/insurance, AXIS Capital Holdings Limited, has made senior leadership appointments with the addition of Paul Boulos and Rob Ryan as Heads of Ocean Marine, effective immediately. The duo will report to Michael McKenna, Head of North America. McKenna, commented on the appointments, "Paul and Rob join ... Read the full article
AM Best revises Italy’s non-life insurance segment to stable
11th June 2024
Global credit ratings agency AM Best has revised its outlook on Italy’s non-life insurance segment from negative to stable, citing growth momentum supported by tariff adjustments and stabilisation of the economic environment. In a report, the agency explained that it expects non-life insurance gross written premium (GWP) to continue to grow ... Read the full article
Hiscox names Mary Boyd USA CEO
11th June 2024
International specialist insurer Hiscox has announced the appointment of Mary Boyd as Chief Executive Officer of its USA business unit. Joining the company on June 24, 2024, Boyd will be replacing existing USA CEO Kevin Kerridge, who is stepping down after almost 30 years in the business. Boyd joins Hiscox from Plymouth ... Read the full article
Lloyd’s approves Allied American USA as a Delegated Claims Administrator
11th June 2024
Allied American USA, a company offering a wide range of insurance claim services, has announced its approval as a Delegated Claims Administrator (DCA) by Lloyd's of London. DCAs play a vital role in supporting the Lloyd's market by efficiently handling claims, thereby enhancing policyholder outcomes. This significant achievement enables Allied American to ... Read the full article
Nick Selby to lead Evertas European Underwriting team
11th June 2024
Crypto insurance company Evertas has announced the appointment of Nick Selby, an accomplished information and physical security professional, as its new Head of European Underwriting. Selby brings to Evertas 20 years of expertise in public and private sector information security, physical security, and complex incident handling, as well as seven years ... Read the full article
Positive outlook for P&C reinsurers amid active hurricane expectations: Morgan Stanley
11th June 2024
Morgan Stanley analysts have emphasised that, despite expectations of an above-average hurricane season, the P&C reinsurance market maintains a positive outlook heading into 2025, thanks to a relatively stable pricing environment. Analysts identify several key factors expected to contribute to pricing stability: “Given the strong profitability in 2023 and the strong ... Read the full article
B.P. Marsh sees Net Asset Value climb 20.9% in 2023
11th June 2024
Specialist private equity investor B.P. Marsh & Partners Plc has reported that Net Asset Value (NAV) climbed 20.9% from £189.5 million to reach £229.2 million in its full year results for the year ended 31 January 2024. At the same time, B.P. Marsh also recorded a £43.6 million increase in the equity ... Read the full article
McGill and Partners promotes Rebecca Mason to Partner in Crisis Management
11th June 2024
Insurance and reinsurance broker McGill and Partners has announced the appointment of Rebecca Mason as Partner in its Crisis Management team. Bringing over eight years of experience in the Crisis Management sector to her new role, Mason has a wealth of expertise ranging from kidnap and ransom to terrorism insurance. She ... Read the full article
M&G selects Clearwater Analytics as its SaaS-based investment accounting solution
11th June 2024
Clearwater Analytics, a provider of SaaS-based investment management, accounting, reporting, and analytics solutions, has been selected by international asset manager, M&G Investments, as its SaaS-based investment accounting solution. Clearwater's solution provides M&G Investments with timely, accurate, and comprehensive investment accounting and reporting. The platform will automate both investment management and regulatory reporting ... Read the full article
Fortegra receives approval to operate in Belgium and the EU
11th June 2024
Fortegra, a multinational specialty insurer and subsidiary of Tiptree Inc., has been granted licence to operate in Belgium and the European Union. Based in Brussels, Fortegra Belgium Insurance Company, NV will underwrite specialty lines of business. Its operation in the country offers the company access to strategic distribution channels in a continually ... Read the full article
Artex announces key Chairman and CEO appointments
11th June 2024
Artex Risk Solutions has announced that its Chief Executive Officer (CEO) and Co-founder, Peter Mullen, will be appointed Chairman, and Gallagher’s Regional Executive Vice President, Zeb Holt, will be named Artex’s new CEO, both effective January 1, 2025. Mullen has 38 years of industry experience. He has been the CEO of ... Read the full article
Euclid unveils Euclid Mortgage MGU, Monaghan & Hissong to lead
11th June 2024
Euclid Program Managers, a family of insurance program managers, has launched Euclid Mortgage, LLC, a managing general underwriter (MGU) led by industry veterans Joe Monaghan and Joe Hissong, which underwrites mortgage credit risk on behalf of insurers and reinsurers. Monaghan will serve as the organisation's Managing Principal and Chief ... Read the full article
Lloyd’s approves Devonshire Underwriting to write business in Europe
11th June 2024
Devonshire UW Limited, and its affiliate Devonshire UW Europe GmbH, together known as Devonshire Underwriting, has received Lloyd’s approval to launch into the European Market. Devonshire Underwriting, a managing general agent (MGA) specialising in underwriting transactional risk (TR) solutions, is now able to write business in Europe, serving the market that ... Read the full article
Kin increases size of reinsurance program at favorable economic terms
11th June 2024
The Kin Interinsurance Network and Kin Interinsurance Nexus Exchange, the reciprocal exchanges managed by Kin Insurance, Inc., have completed their natural catastrophe reinsurance programs for the 2024 storm season, securing more coverage than last year. For 2024-2025, the Florida reinsurance program provides $1 billion in coverage for natural catastrophes, representing protection ... Read the full article
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