Reinsurance News
EU “Goldilocks environment” to keep risks low, M&A a potential challenge: Berenberg
4th July 2024
The current “Goldilocks environment”, a macro environment of moderate growth, moderate inflation and moderate interest rates according to Berenberg, will allow insurers in the European Union (EU) to deliver on their strategic plan targets. Berenberg analysts arrived at this conclusion following the publishing of the Financial Stability Report by EIOPA, the ... Read the full article
SRG announces acquisition of political violence specialist, Tristar Special Risks
4th July 2024
Specialist Risk Group (SRG), the insurance intermediary, has announced its acquisition of Tristar Special Risks, the political violence specialist. For those who are not aware, Tristar Special Risks has a deep degree of expertise in terrorism insurance and supports broker partners across the UK through its coverage for all types of commercial ... Read the full article
Wind energy producers and insurers need to monitor changing climate: Swiss Re
4th July 2024
According to a report from Swiss Re, a global reinsurance company, climate change is expected to alter global wind patterns, posing significant challenges for wind energy producers and insurers alike. Shilpa Gahlot, Insurance Research Specialist, Swiss Re, states: "The intensity of storms is anticipated to increase, with stronger gusts and more ... Read the full article
Helios names AEGIS’ Chambers as Independent Non-Exec Director
4th July 2024
Lloyd’s focused investment vehicle Helios Underwriting has appointed John Chambers, former AEGIS executive, to its Board as an Independent Non-Executive Director. He brings considerable experience across all aspects of running a regulated insurer, from business planning through underwriting management to risk management, as well as financial and regulatory reporting. Prior to his ... Read the full article
Brokerslink launches Trade Credit Insurance practice to meet growing global demand
4th July 2024
Brokerslink, a network of independent brokers, has introduced a specialised Trade Credit Insurance (TCI) practice to meet the rising demand from its international affiliates. This new TCI practice will give Brokerslink’s Partners and Affiliates access to a shared pool of expertise in the Trade Credit sector, allowing brokers to enhance their ... Read the full article
Schroders Capital teams with Hannover Re on tokenised ILS pilot
4th July 2024
Schroders Capital, the private markets business of Schroders Group, has collaborated with global reinsurer Hannover Re on a pilot tokenisation project, designed to enhance the way insurance-linked securities (ILS) investments are invested and managed. It's important to address, that this pilot further builds on Schroders Group’s commitment to innovation in digital assets, ... Read the full article
No significant rate movements in US P&C as insurers remain comfortable: Novatae
4th July 2024
With the composite rate for US P&C insurance increasing slightly from 3.9% in Q1 to 4.36% in Q2, Richard Kerr, CEO of Novatae Risk Group, noted that "there was no significant movement in rates for any coverage or industry group" given that insurers are comfortable with pricing. Kerr's comments come as ... Read the full article
Howden Re appoints Shireen Gammoh as MD, Legacy & Structured Reinsurance
4th July 2024
Howden Re, the reinsurance broking arm of Howden Group Holdings, has announced the appointment of Shireen Gammoh as Managing Director (MD) within the Legacy and Structured Reinsurance team. Gammoh will join Howden Re on July 17th and will be based in Bermuda. Seth Ruff, Managing Director and Head of Legacy & Structured ... Read the full article
Clive Magnus named Active Underwriter of CNA Hardy Syndicate 382
4th July 2024
CNA Hardy, a provider of specialist insurance solutions for commercial businesses, has announced the appointment of Clive Magnus as Active Underwriter for the firm’s Lloyd’s Syndicate 382. Magnus will succeed Carl Day, who has resigned after serving as Active Underwriter of CNA Hardy Syndicate 382 for nine years. Jalil Rehman, Chief Executive ... Read the full article
Michèle Horner appointed Country Manager for France & Monaco, Beazley
4th July 2024
Specialist insurer, Beazley, has appointed industry veteran Michèle Horner as Country Manager for France and Monaco, where she will be based in Paris, effective immediately. In the role, Horner will be expected to focus on developing Beazley's business in France, while also retaining her current role within the Distribution Team as ... Read the full article
CCRIF SPC makes full payout to Guatemala under excess rainfall policy
4th July 2024
CCRIF SPC reportedly made a payout on July 1st of $6,376,184 to the Government of Guatemala following heavy rains from June 13th to 19th. According to CCRIF, this payout represents the Government of Guatemala’s full payout under its excess rainfall (XSR) policy, meaning that the policy has reached its coverage limit. The ... Read the full article
Lucas Prahl named President of Berkley Human Services
4th July 2024
W. R. Berkley Corporation, a property and casualty re/insurer, has announced the appointment of Lucas Prahl as President of Berkley Human Services, a Berkley company. Prahl succeeds Roger Nulton, who has been named Chairman of the business after serving as President for nearly a decade. Nulton will continue to support Prahl ... Read the full article
Hurricane Beryl losses likely to be within reinsurance sector’s risk appetite: AM Best
4th July 2024
Although it will be some time before the overall losses and impacts from Hurricane Beryl are understood, John McGlynn, a senior financial analyst at AM Best, expects losses to the reinsurance industry to be within risk appetite and contained in their earnings. At the same time, McGlynn warns that cost pressures ... Read the full article
Increased competition and capacity at mid-year cyber renewals: Aon
4th July 2024
Mid-year cyber renewals have signalled further improvements for buyers, with plenty of capacity and increased competition leading to positive outcomes for most insurers, according to insurance and reinsurance broker Aon. After a period of rapid price increases in 2021 and 2022, the cyber insurance market continues to see new capacity, resulting ... Read the full article
Way.com and CURE Auto Insurance initiative to help save millions in catastrophic hurricane damage
4th July 2024
CURE Auto Insurance and Way.com partner to protect customers' cars from damage due to hurricanes and tropical storms as these can cause millions in damage. A white glove service, the initiative Catastrophe Loss Mitigation program, will notify customers in projected impact zones of severe hurricane and flooding events, in advance of ... Read the full article
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