Reinsurance News
Andy Haste appointed new Group Chairman of Canopius following record-breaking year
23rd May 2024
Specialty re/insurer Canopius has appointed Andy Haste as its new Group Chairman, effective July 1, 2024, bringing extensive executive and non-executive experience to the role. He will chair the Group Board as Canopius aims to achieve its future goals following its record-breaking results in 2023. Haste has had a notable ... Read the full article
Neptune Flood promotes Matt Duffy to MD and Chief Risk Officer
23rd May 2024
US-based private flood insurance company, Neptune Flood, has promoted Matt Duffy to the role of Managing Director (MD) and Chief Risk Officer. Duffy has been with the company for three years, serving as the Chief Risk Officer. Previously, he served as the Executive Vice President of Enterprise Technology Solutions at Bank ... Read the full article
HDI partnership with Hallmark strengthens its position in the U.S. market
23rd May 2024
HDI Global Insurance Company, the US subsidiary of international commercial insurer, HDI Global SE (HDI) has entered into a multi-year partnership with Hallmark Financial Services, Inc. Through this collaboration, the insurer aims to provide capacity and product development support for its General Aviation and Small to Medium Sized Commercial property and ... Read the full article
Global insurance market facing a combination of climate, AI & regulatory challenges, GILC
23rd May 2024
A new report from Global Insurance Law Connect (GILC) showcases that natural disasters linked to climate change, cyber security, artificial intelligence (AI) and regulations related to consumer protection are the "biggest challenges" facing insurers across 2024. GILC's annual Risk Radar report is a collection of insights from law firms across 27 ... Read the full article
Wen Chen named Head of Agriculture for Aon’s Reinsurance Solutions APAC
23rd May 2024
Global insurance and reinsurance broking group, Aon, has named Wen Chen as the Head of Agriculture for the firm’s Reinsurance Solutions Asia Pacific (APAC) region, effective June 1st, 2024. Chen will be based in Singapore and will have a dual reporting line to Robert De Souza, President of Reinsurance Solutions in ... Read the full article
Consilium launches marine division to expand speciality offerings
23rd May 2024
Consilium, the global speciality re/insurance broking arm of the Aventum Group, has introduced its new Marine division and appointed Thomas Noakes as Senior Partner. The division will grant comprehensive access to top-rated carriers in the Lloyd’s of London market and specialised marine markets across Europe, the Middle East, Latin America, and ... Read the full article
Fidelis names Aoife Woulfe Head of Underwriting, Ireland
23rd May 2024
Global re/insurance company Fidelis Insurance Group has announced the appointment of Aoife Woulfe to the role of Head of Underwriting, Ireland. She will be based in Dublin and report to Group Chief Underwriting Officer, Ian Houston. Woulfe joins Fidelis after ten years at Tokio Marine Kiln (TMK), where she most recently served ... Read the full article
Aviva increases general insurance premiums by 16% to £2.7bn in strong Q1
23rd May 2024
In their results for the first quarter of 2024, Aviva has posted general insurance premiums of £2.7 billion, representing an increase of 16% from the prior year quarter. Growth was heavily driven by both the UK & Ireland and Canada, with strong rates, new business, and customer retention. UK general insurance premiums ... Read the full article
Heritage secures 3.3% rate decrease for its Florida homeowners business
23rd May 2024
Super-regional property and casualty insurance holding company, Heritage Insurance Holdings, has announced a 3.3% rate decrease approval by the Florida Office of Insurance Regulation for its Florida homeowner's (HO3) business. This rate reduction is a result of positive changes in Florida's laws, including the elimination of one-way attorney fees and other ... Read the full article
July election to catalyse positive regulatory change in UK insurance industry: J.P. Morgan
23rd May 2024
Analysts at J.P. Morgan highlight a potential positive of the July general election in the UK, stating that it could accelerate positive regulatory change that could ultimately support the country's insurance industry. Although neither manifesto commitment from the two parties states any major change or immediate impact on UK insurers ... Read the full article
Bowhead Specialty reveals pricing of upsized IPO, proceeds expected to be $128m
23rd May 2024
Bowhead Specialty, a provider of casualty and professional liability products, has revealed the pricing of its upsized initial public offering (IPO) of 7,529,412 shares of its common stock at a public offering price of $17.00 per share. Earlier this month, Bowhead announced the launch of its IPO of 6,666,667 shares ... Read the full article
WTW names Alex Rosati as Head of Claims Asia, CRB
23rd May 2024
Global re/insurance broker WTW has appointed Alex Rosati as the Head of Claims Asia for its Corporate Risk & Broking (CRB) business, effective August 1st, 2024. Rosati will succeed Neil Thomas who retired earlier this year. Rosati will be based in Singapore, and report directly to Luke Ware, Head of CRB ... Read the full article
Gallagher Re bolsters Japan operation with new CEO and Chairman
23rd May 2024
Gallagher Re Japan has revealed significant senior leadership changes, naming George Sherriff as the new CEO, while Tsuyoshi “Travis” Noguchi has been appointed Chairman. Currently leading the Global Client proposition across Asia Pacific from Singapore, Sherriff will reportedly continue to provide oversight to this offering after transitioning into the role of ... Read the full article
Florida property cat reinsurance rates expected to be flat to down at June 1: KBW
23rd May 2024
As per analysts from KBW, most of the re/insurance executives that the firm met in this week’s Bermuda Tour expect the Florida-heavy June 1 property catastrophe reinsurance renewals to reflect overall y/y risk-adjusted rate changes in the “flat to down 5%” range. KBW's analysts noted that several executives reported modest improvement ... Read the full article
Catastrophe bond market breaking records in 2024: Artemis
23rd May 2024
Catastrophe bond and related insurance-linked securities (ILS) issuance has already broken the first-half year record at $10.9 billion, beating the previous high set in H1 2023 by around $600 million, with June issuance still to complete and add to the total, according to Artemis' data. Catastrophe bond issuance has been ... Read the full article
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