Reinsurance News
One80 expands homeowners’ coverage to Oregon
28th May 2024
Specialty insurance broker One80 Intermediaries, in partnership with the Oregon FAIR Plan Association, has announced the expansion of its homeowners’ coverage throughout the state of Oregon, US. Effective immediately, One80 and its carrier partners will be offering wrap-around coverage - also known as Differences in Conditions or DIC - which will ... Read the full article
Cyber facility Incyde Risk launches, powered by Safe Security, led by Mosaic & other Lloyd’s Syndicates
28th May 2024
Mosaic 1609 and other participating Lloyd's syndicates have partnered with Safe Security to streamline cyber insurance solutions through newly launched facility Incyde Risk. According to the announcement, the new facility will provide up to $25mn in capacity on a primary and first-excess basis, with a lead-line by Mosaic 1609, and supported ... Read the full article
Philippines’ non-life insurance sector revised to stable: AM Best
28th May 2024
Global credit ratings agency AM Best has revised its market segment outlook on the Philippine non-life insurance market to stable from negative, citing a variety of factors that include strong investment yields amid insurance market and economic growth. In a new report released by the agency, Best states that the high domestic ... Read the full article
Cover Whale secures $27.5m investment from Morgan Stanley Expansion Capital
28th May 2024
Cover Whale Insurance Solutions, Inc., has announced a $27.5 million funding boost in debt and equity from investment funds managed by Morgan Stanley Expansion Capital. This round of funding, which includes existing debt investors converting into Series A preferred shares, will fuel Cover Whale's ongoing expansion efforts and expedite its mission ... Read the full article
P&C sector reports improved conditions in early 2024: McGriff
28th May 2024
The Property & Casualty (P&C) industry began 2024 in a stronger position compared to 2023, driven by 25 consecutive quarters of premium increases, improved investment returns for insurers, and a relatively mild hurricane season, highlights broker McGriff in a recent report. The broker highlights Fitch Ratings' prediction for modest underwriting improvements ... Read the full article
Zurich Singapore appoints Matt Graves as Chief Claims Officer
28th May 2024
Zurich Singapore has appointed Matt Graves as its new Chief Claims Officer, reporting directly to Liam Burrell, Chief Executive Officer of Singapore and Head of Commercial Insurance Asia. Graves’ remit will include an enterprise-wide responsibility for all claims functions across Zurich Singapore’s Commercial and newly launched Retail segment. In his new role, ... Read the full article
Pacific Life Re signs asset intensive reinsurance agreement with Tokio Marine & Nichido Life
28th May 2024
Pacific Life Re, the global reinsurer and wholly owned subsidiary of Pacific Life, has announced an asset-intensive reinsurance agreement in Japan with Tokio Marine & Nichido Life Insurance Co., Ltd. (Anshin Life). The deal, covering in-force whole-of-life policies, will provide Anshin Life with a new method to reduce its portfolio's long-term interest ... Read the full article
Cédric Boureau returns to CCR Re as Senior Actuary Underwriter
28th May 2024
French reinsurer CCR Re has announced the return of Cédric Boureau as a Senior Actuary Underwriter, responsible for underwriting in the regions of Asia and Africa, reporting to John Conan. Boureau has returned to the French reinsurer after four years with Swiss Re where he was a Reinsurance Senior Client Treaty ... Read the full article
Legal & General finalises Nortel pension buyout
28th May 2024
UK insurer Legal & General Assurance Society Limited has successfully completed a buyout with the Nortel Networks UK Pension Plan, which belonged to the now-bankrupt telecommunications company Nortel Networks. This latest agreement secures the benefits for the remaining Plan members, involving an initial premium of £14 million and an additional £6 ... Read the full article
Crestfield Risk launches to support independent insurance agencies, Benchimol joins board
28th May 2024
In partnership with The Vistria Group and founded by industry leader Jeff Turner, Crestfield Risk has recently launched as a platform to unite and support leading independent insurance agencies across the US. The platform aims to equip agencies with top-tier resources, insights, and growth opportunities to better serve their clients and ... Read the full article
Kairos appoints Andre Siregar as Chief Technology Officer
28th May 2024
Kairos Risk Solutions, a Singapore-based boutique insurance solutions consultancy, has announced the appointment of industry veteran Andre Siregar as Chief Technology Officer. In his new role, Siregar will lead the development and implementation of innovative risk solutions for the insurance and banking industries. He will collaborate closely with Albert Lim, Managing Director ... Read the full article
Higher interest rates transforming life insurance growth and profitability: Swiss Re
28th May 2024
Higher interest rates worldwide are reportedly transforming the outlook for life insurance growth and profitability, with a new high anticipated for US fixed annuity sales this year after record sales in 2022 and 2023, as per a new Swiss Re Institute report. Jérôme Jean Haegeli, Swiss Re's Group Chief Economist, commented, ... Read the full article
Barber named Senior Liability Treaty Underwriter for Blenheim Syndicate 5886
28th May 2024
Blenheim Underwriting has announced the appointment of a new Senior Liability Treaty Underwriter for Syndicate 5886, David Barber, who aims to build a portfolio of niche liability classes, written via long-standing delegated authority/ reinsurance relationships. Barber joins Blenheim Syndicate 5886 following four years at Fortegra, and prior to that spent 25 ... Read the full article
Synthetic data key to future success in London specialty insurance: Earnix
28th May 2024
Earnix, a provider of AI-based SaaS solutions, highlights the crucial role synthetic data will play in the future success of the specialty London insurance market in a recent report. According to Gartner, the use of synthetic data in commercial applications is just beginning to gain traction, accounting for only 1% of ... Read the full article
RGA reinsures JPY 100bn life block for Anshin Life
28th May 2024
Reinsurance Group of America, Incorporated (RGA), a global life and health reinsurance company, has reached an agreement with Tokio Marine & Nichido Life Insurance Co., Ltd. (Anshin Life) to reinsure an approximately JPY 100 billion paid-up block of whole life policies through coinsurance. Gaston Nossiter, Senior Vice President, Head of Asia ... Read the full article
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