Reinsurance News
GBN Risk Solutions appoints Houssam Yehya as Director & Group Head of International
9th May 2024
GBN Worldwide Risk Solutions (GBNRS), a London-based independent broker and Managing General Agent (MGA), has strengthened its leadership team by appointing Houssam Yehya as Director and Group Head of International. In his new capacity, Yehya will directly report to Jamil Elbahou, chairman of Silverbrook Holdings, the parent company of GBN Worldwide ... Read the full article
AM Best assigns ratings to Guilderland Re, affirms ratings of parent
9th May 2024
Guilderland Reinsurance Company (GRC) has been assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) by credit ratings company, AM Best. The outlook assigned to GRC is stable, which reflects its role as a member of Knight and the explicit ... Read the full article
MSIG USA bolsters executive team with new additions
9th May 2024
MSIG USA has announced it is strengthening its executive leadership team with new appointments aimed at reinforcing the company's dedication to the U.S. market, its expansion and innovation. Peter McKenna, CEO of MSIG USA, stated: "These appointments, coupled with the organizational changes we announced earlier this year, underscore MSIG USA's significant ... Read the full article
Saha Re enters African reinsurance market
8th May 2024
Saha Reinsurance Proprietary Limited (Saha Re) launched on the 27th of March, 2024, as a newly established reinsurance company licensed by the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) of Botswana. Established as a forward-thinking reinsurer, Saha Re is dedicated to providing innovative reinsurance solutions tailored to the evolving insurance landscape in ... Read the full article
Assurant’s net income increases 108% in Q1’24
8th May 2024
US specialty insurance group Assurant has reported a GAAP net income of $236.4 million for the first quarter of 2024, representing a 108% increase compared to the $113.6 million reported in the same period last year. According to the company, this increase was mainly due to higher segment earnings and lower ... Read the full article
Front Street Re welcomes Edison Fong as new CEO
8th May 2024
Edison Fong has been named Chief Executive Officer of Front Street Re (FSR), an insurtech and reinsurance company focused on annuity, life, health, and general reinsurance solutions and is an operating subsidiary of Lexasure Financial Group Limited. Fong is joining the company from New York-based Converge Re, a reinsurance company focusing ... Read the full article
K2 Parametric Insurance Services adds Palms Specialty to carrier panel
8th May 2024
K2 Parametric Insurance Services, LLC , a subsidiary of K2 Insurance Services and Palms Insurance, has announced that Palms Specialty will be providing capacity to support K2 Parametric’s program. According to the announcement, under this partnership, K2 Parametric will be able to further increase their capacity offering for commercial Parametric Natural ... Read the full article
IGI to commence trading at Lloyd’s
8th May 2024
International General Insurance Holdings Ltd. (IGI), the global specialty risks commercial insurer and reinsurer, has announced that it will commence trading at the specialist Lloyd’s re/insurance marketplace for the first time from May 9th, 2024. IGI will trade across multiple business lines, with underwriting teams operating rotationally. The firm will be ... Read the full article
Global Indemnity sees solid rise in net income in Q1’24
8th May 2024
Global Indemnity Group, LLC has posted a net income available to shareholders of $11.3 million for the first quarter of 2024, compared to $2.4 million for the same period in 2023. According to the firm, the increase in net income was essentially driven by strong underwriting results in the Penn-America excess ... Read the full article
Genpact & Amazon (AWS) advance Revol One Financial’s entry into fixed annuity insurance market
8th May 2024
Professional services and solutions firm Genpact has collaborated with Amazon Web Services (AWS) to accelerate annuity provider Revol One Financial's entry into the fixed annuity insurance space. Revol One Financial is the marketing name for Revol One Insurance Company and is committed to revolutionizing customer experience in the fixed annuity insurance ... Read the full article
U.S. personal auto insurers are “furthest ahead” when it comes to innovative processes: AM Best
8th May 2024
A new report from global ratings agency AM Best has highlighted how U.S. personal auto insurers are the furthest ahead when it comes to innovative processes like automated claims management and the use of data to automate underwriting. But, it appears that not all auto writers are at the same level, and ... Read the full article
Will Allen named Executive MD of Capital Advisory, Aon’s Reinsurance Solutions
8th May 2024
Aon, a global insurance and reinsurance broker, has announced the appointment of Will Allen as Executive Managing Director of Capital Advisory within Aon’s Reinsurance Solutions. Allen has over two decades of capital management experience to his new role, having built longstanding relationships with global capital providers, and with a recent focus ... Read the full article
Industry veteran Jim Bryant joins DWF as Partner in Insurance Services
8th May 2024
DWF, a global provider of integrated legal and business services, has announced the appointment of industry veteran Jim Bryant as a Partner in its Insurance Services division. In his new role, Bryant will collaborate with DWF's London Markets team and its global locations. David Abbott, Partner of Insurance Services at DWF, expresses ... Read the full article
Nayms partners with Coinbase for seamless insurance transactions
8th May 2024
Digital insurance marketplace Nayms has partnered with Coinbase, a collaboration that aims to empower insurance companies, reinsurance funds, and capital providers by leveraging on-chain technology for seamless insurance transactions. Nayms will be utilising Coinbase technology stack, which includes Coinbase Prime, Base, and Coinbase Web3 wallet, providing infrastructure that enables insurance entities ... Read the full article
Increasing weather risks demand new strategies and approaches: Aon report
8th May 2024
Aon’s 2024 Client Trends Report outlines four megatrends impacting global business, with one of them being weather, driven by the escalating frequency and severity of extreme events, compelling organisations to manage climate risk in an increasingly holistic way. With climate change escalating the occurrence and intensity of natural disasters and extreme ... Read the full article
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