Reinsurance News
Raul Fernandez appointed President & CEO of DXC Technology
5th February 2024
DXC Technology, a provider of insurance and reinsurance software and technology solutions, has announced that the Company's Board of Directors unanimously appointed Raul Fernandez as its President and Chief Executive Officer, effective immediately. Fernandez was appointed Interim President and CEO in December 2023. He has previously served as CEO of several companies prior ... Read the full article
PIC welcomes three new members to Origination team
5th February 2024
Specialist insurer Pension Insurance Corporation plc (PIC) has announced the addition of three new members to its Origination team, Tom Seecharan as Co-Head of Origination, Matt Richards as Head of Origination Structuring, and Louise Nash as Origination Actuary. “I’m delighted we have been able to recruit three individuals who are widely ... Read the full article
North American insurers expected to balance growth opportunities: Fitch
2nd February 2024
With recession at bay and inflation beginning to cool off, North American insurers are expected to balance growth opportunities while weathering potential impediments to growth this year, according to Fitch Ratings analysts and external panelists at the agency’s Insurance Insights 2024 North America investor forum. Fitch noted that the sector outlooks for ... Read the full article
We’re heading towards an environment where it’s more a series of P&C markets: Aon President
2nd February 2024
While the outlook for property and casualty (P&C) pricing remains favourable for 2024, Eric Andersen, President of re/insurance broker Aon, expects a transition to a more product and risk specific marketplace over the next 12-24 months. Following the release of a solid set of results for 2023, Aon executives held ... Read the full article
James Thanasules appointed President of AmTrust Title
2nd February 2024
Specialty property casualty insurer, AmTrust, has named a new President of AmTrust Title, James Thanasules, who will oversee the company’s operations providing title insurance for the commercial and residential real estate industries. Thanasules, who brings more than 25 years of experience in the industry, joined AmTrust in 2016 as Senior Vice ... Read the full article
Swiss Re champions reinsurance as a strategic ally for life insurers in navigating high-interest rates
2nd February 2024
In the midst of a dynamic financial environment marked by soaring interest rates, reinsurance is emerging as a key ally for life insurers, offering innovative solutions to effectively manage the impact on their businesses, according to a Swiss Re Institute report. The current high-interest rate landscape, while presenting opportunities, also brings ... Read the full article
AdvantageGo bolsters presence with Combined Ratio Solutions partnership
2nd February 2024
AdvantageGo, the commercial insurance and reinsurance software provider and part of Coforge, has entered into a strategic alliance with Combined Ratio Solutions, a provider of insurance Customer Relationship Management (CRM) solutions and professional services. According to the announcement, the integration of AdvantageGo’s Underwriting Workbench platform with Combined Ratio’s IMPACT product suite, ... Read the full article
Kemper posts net income of $51.4m in Q4’23 vs year-ago loss
2nd February 2024
Kemper Corporation has reported a net income of $51.4 million for the fourth quarter of 2023, compared to a net loss of $53.3 million for the fourth quarter of 2022. Total revenues for Q4'23 decreased $187.4 million, or 13.6 percent, to $1,187.2 million, compared to the fourth quarter of 2022, mostly ... Read the full article
Monument Re closes previously announced portfolio acquisition from Integrale Lux S.A.
2nd February 2024
Life insurance and reinsurance holding company, Monument Re, has completed its previously announced agreement to acquire the closed portfolio long-term life insurance business from Integrale Lux S.A. through its Luxembourg subsidiary, Monument Assurance Luxembourg S.A. (MAL). Integrale’s portfolio serves mainly the Luxembourgish, Dutch and French markets, and is strategically aligned ... Read the full article
Continental Re names Thierry Ravoaja as CUO, Treaty & Retro
2nd February 2024
Pan-African reinsurer Continental Reinsurance Plc has announced the appointment of Thierry Ravoaja to the role of Chief Underwriting Officer – Treaty and Retrocession. Ravoaja brings with him over two decades of industry experience, having most recently served as Vice President – Treaties Africa and Indian Sub-continent at CCR Re France, a ... Read the full article
Aon’s Reinsurance Solutions posts 14% organic revenue growth in Q4’23
2nd February 2024
Aon's Reinsurance Solutions arm delivered organic revenue growth of 14% in the fourth quarter of 2023 to $332 million, as total revenue across the insurance and reinsurance broking group rose $245 million to $3.4 billion. The broker attributes the growth in its reinsurance segment to strong growth in treaty as a ... Read the full article
The Hartford posts $766m net income in Q4, P&C written premiums rise 10%
2nd February 2024
The Hartford has posted a net income of $766 million for the fourth quarter of 2023, a substantial rise from $587 million in the fourth quarter of 2022. The company noted that this was primarily driven from a higher property & casualty (P&C) underwriting gain, including strong premium growth in Commercial ... Read the full article
PERILS final estimate for New Zealand North Island flood insured loss at NZ $2.23bn
2nd February 2024
Zurich-based catastrophe insurance data provider PERILS has disclosed its fourth and final insurance market loss estimate for the severe flooding that impacted the North Island of New Zealand in late January 2023, pegging the total at NZ $2.23 billion. The latest figure compares to the third loss estimate of NZ ... Read the full article
RGA reports Q4’23 premium growth of 19.2%
2nd February 2024
Reinsurance Group of America (RGA), a global life and health reinsurer, has reported fourth-quarter 2023 premium growth of 19.2% over the prior-year quarter as consolidated net premiums hit $4.1 billion. Net premiums for the quarter include a $500 million contribution from a single premium pension risk transfer transaction in the U.S. ... Read the full article
WTW launches cyber insurance solution for SMEs in North America
2nd February 2024
Global insurance broker WTW has launched a new cyber insurance solution tailored for small and medium-sized enterprises (SMEs) spanning industries across North America. This solution is tailored for businesses with annual revenues under $50 million, including start-ups and pre-revenue accounts. The firm states that this new cyber solution is crafted to ... Read the full article
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