Reinsurance News
Acrisure expands in southern England with FinCred and GBS acquisitions
7th May 2024
Acrisure, a global Fintech company, has announced the acquisitions of Financial and Credit Insurance Services Ltd (FinCred) and Global Broking Solutions (GBS), managed by the Sutton Winson team, marking a significant expansion of the company’s footprint in southern England. FinCred, based in Sevenoaks, Kent, is a specialised credit insurance broker and ... Read the full article
CNA Financial posts $338m net income in Q1, P&C CR hits 94.6%
7th May 2024
In their results for the first quarter of 2024, CNA Financial Corporation has reported a net income of $338 million, compared to a net income of $297 million in the prior year quarter. The firm's property & casualty (P&C) segments produced core income of $372 million for Q124, representing an increase ... Read the full article
Markel reports growth in income and operating revenue for Q1’24
7th May 2024
Global re/insurer Markel Group Inc. has reported growth of 23% in operating revenue to $4.47 billion and operating income growth of 77% to $1.33 billion, primarily driven by its investment engine, for the first quarter of 2024. The company has reported a higher combined ratio of 95.2% in Q1 2024 compared ... Read the full article
Maiden Holdings enters renewal rights transaction with AmTrust Nordic AB
7th May 2024
Maiden Holdings, Ltd. has entered into a renewal rights transaction with AmTrust Nordic AB, the Swedish subsidiary of AmTrust Financial Services, Inc. to cover the majority of its primary business written through its subsidiaries, Maiden General Försäkrings and Maiden Life Försäkrings in Sweden, Norway and other Nordic countries. Under the terms ... Read the full article
Hannover Re CEO expects further earnings growth following robust recent performance
7th May 2024
Hannover Re CEO Jean-Jacques Henchoz anticipates further earnings growth following a string of successful financial years in the firm's most recent strategy cycle. During Hannover Re's Annual General Meeting, Henchoz underlined the firm's reliability, noting how it delivered on promises from 2021 to 2023 in the face of numerous challenges. The firm ... Read the full article
Canadian Personal Auto & Personal Property lines increase in Q1’24: Applied Systems
7th May 2024
Applied Systems has released first quarter 2024 results of the Applied Rating Index, which shows that average premiums for both Personal Auto lines and Personal Property lines increased year over year, while quarter over quarter, premium rate change increased for Personal Auto and increased for Personal Property compared to Q4 ... Read the full article
Quadrant and Verve forge exclusive partnership for regional risks
7th May 2024
Quadrant Insurance Managers and Verve Risk Services have announced the next phase of their long standing partnership, with Quadrant assuming the role of exclusive regional partner for Verve. This partnership will focus on managing risks located specifically in North Carolina, Montana, Tennessee, and Vermont. Together, they will offer insurance company management and ... Read the full article
Arch Insurance promotes Barbara Rizzi to Chief Claims Officer
7th May 2024
Arch Insurance International, part of Arch Capital Group Ltd. has promoted Barbara Rizzi to Chief Claims Officer, effective immediately, based in London. She will report to Kirsten Valder, Deputy Chief Executive Officer, Arch Insurance International, who commented, "Barbara is a highly respected leader and claims practitioner with deep legal and technical claims ... Read the full article
Amwins forms National Transportation Underwriters to enhance services
7th May 2024
Amwins, a global distributor of specialty insurance products and services, has announced the merger of its Amwins Transportation Underwriters and National Truck Underwriting Managers teams to create a unified entity, Amwins National Transportation Underwriters (ANTU). As a single operating company, ANTU is equipped to provide clients with nationwide access to nearly ... Read the full article
Jaskiran S. becomes Chief of Staff at Zep Re
7th May 2024
Kenya domiciled reinsurer Zep Re, or PTA Reinsurance Company, has a new Chief of Staff, Jaskiran S., who has recently joined the firm and will be in charge of strategy execution. ZEP-RE is a specialised institution of the Common Market for Eastern and Southern Africa (COMESA) established to service and develop ... Read the full article
Palomar Holdings reports $26.4m net income in Q1’24 results
7th May 2024
Palomar Holdings has reported a net income of $26.4 million for the first quarter of 2024, marking a notable increase of $17.3 million from the same period in 2023. The company has experienced substantial growth in gross written premiums (GWP), surging from $250.1 million in Q1’23 to $368.1 million in Q1’24, ... Read the full article
Climate risk insurance for vulnerable women in India’s informal sector: CelsiusPro
6th May 2024
CelsiusPro’s Global Parametrics team, in collaboration with Mahila Housing Trust, Howden Insurance Brokers Limited, and Go Digit General Insurance, has introduced a pioneering climate risk insurance (CRI) product providing financial protection for women in India's informal sector against extreme heatwaves. In India, where 80% of the workforce operates in the informal ... Read the full article
HDI expands US leadership team with Marco Hense as CUO
6th May 2024
HDI Global Insurance Company, the US subsidiary of international commercial insurer HDI Global SE (HDI), has announced the promotion of Marco Hensel to Chief Underwriting Officer (CUO), and the appointment of Santiago Treviño as Chief Strategy Officer (CSO). According to the firm, these leadership appointments have been designed to continue HDI ... Read the full article
Fenchurch Law names Grant Managing Partner, founder Pryce to lead expansion into Singapore
6th May 2024
Fenchurch Law, a City of London law firm specialising in insurance coverage disputes, has announced the appointment of Joanna Grant as Managing Partner, making Fenchurch Law one of the few female-led law firms in the UK. David Pryce, founder and former Managing Partner, will take on a new Senior Partner role. ... Read the full article
Berkshire Hathaway P&C reinsurance underwriting profit surpasses $1bn in Q1 2024
4th May 2024
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has surpassed $1 billion in underwriting earnings in its property and casualty (P&C) reinsurance operations during the first-quarter of 2024, up almost 160% year-on-year. With P&C reinsurance premiums written rising by nearly 3%, to $6.455 billion for the three month period, driven ... Read the full article
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