Reinsurance News
Trium Cyber names Signorelli Managing Director of International operations
6th November 2023
Lloyd's cyber insurance specialist, Trium Cyber, has appointed Mauro Signorelli as Managing Director of International operations. In his new position, Signorelli will be responsible for leading and growing Trium’s International operations. He will report to Chief Executive Officer Josh Ladeau, and work alongside Amie Watson, Trium’s Chief Underwriting Officer for ... Read the full article
IAIS report urges action on NatCat protection gaps amid climate change threat
6th November 2023
The International Association of Insurance Supervisors (IAIS) has issued a report, "A call to action: the role of insurance supervisors in addressing natural catastrophe protection gaps," highlighting the vital role of insurance supervisors in addressing the rising threat of natural catastrophe (NatCat) events due to climate change. Protection gaps, defined as the ... Read the full article
AM Best turns positive on E&S lines insurance segment
6th November 2023
AM Best has revised its outlook on the excess and surplus (E&S) lines insurance segment to positive from stable, citing increased business due to declining capacity in commercial lines and some personal lines markets. The rating agency also referenced strong underwriting results, which are driving favourable operating profitability and strengthened capital ... Read the full article
Skyward Specialty grows Surety division with seven new hires
6th November 2023
P&C insurer Skyward Specialty has expanded its Surety division with the addition of seven new executives, including Scott Bailey, who has been appointed Vice President of Field Operations for Contract Surety and Chaz Cointment as Assistant Vice President of Contract Surety. Bailey has nearly 40 years of experience specialising in Surety, ... Read the full article
FANHUA forming joint ventures with Asia Insurance
6th November 2023
FANHUA, an independent Chinese financial services provider, has entered into a strategic partnership with Asia Insurance Co., Ltd. (Asia Insurance), a wholly-owned subsidiary of Asia Financial Holdings Ltd. Both companies are forming two joint ventures: a life insurance brokerage company, and an insurance technology company. According to the announcement, FANHUA will be ... Read the full article
Continued momentum in property, but casualty a cloud of uncertainty: Swiss Re’s Ningen
6th November 2023
As the property and casualty (P&C) insurance industry meets at the 2023 annual APCIA conference, we spoke with Monica Ningen, CEO of P&C Reinsurance US at Swiss Re, about the state of the market and what to expect heading into 2024. “From a property standpoint, we have a pretty orderly market,” ... Read the full article
White Mountains reports GWP rise for Ark in Q3’23 to $251 million
6th November 2023
White Mountains has released its third-quarter results for 2023, saying that its Ark partner firm saw gross written premiums rise to $251 million at Q3'23 compared with $216 million in Q2'22. Ark saw GWP rise to $1,667 million for the first nine months of 2023, compared to $1,253 million in 2022. It ... Read the full article
Cloud concentration a top emerging risk for organizations: Gartner
6th November 2023
Cloud concentration has become a significant emerging risk for many organisations, according to a recent survey by Gartner, Inc. The Gartner 3Q23 Emerging Risk Report surveyed 294 risk executives about their views on emerging risk or over-the-horizon risks. It found that the risk associated with dependence on a particular cloud provider for ... Read the full article
Coalition launches Active Cyber Insurance in Australia
6th November 2023
Coalition has introduced its suite of Active Cyber Insurance products in Australia. This insurance offering is designed to go beyond risk transfer, actively assisting organisations in understanding their cyber risk profiles, enhancing their cybersecurity defenses, and proactively preventing future cyberattacks, the company said. In recent years, Australia has witnessed numerous high-profile cyber ... Read the full article
EAIC gains 10 new founding members, launches insurance AI research initiative
6th November 2023
The Ethical AI in Insurance Consortium (EAIC) has made significant strides in its mission to promote responsible and transparent AI adoption in the insurance sector with the addition of 10 new founding members. This expansion of expertise promises to have a substantial impact on the industry. Among the new members, Brian Casey, ... Read the full article
Vandermyde and Berisha join Rokstone North America Marine team
6th November 2023
Rokstone, the Aventum Group’s international (re)insurance MGA, has expanded its North American marine operation with the appointment of Alex Berisha as Head of US Marine Cargo and Derek Vandermyde as Underwriting Manager, Inland Marine. The pair will be based in New York and are to join Rokstone next month after serving ... Read the full article
AIG announces launch of secondary offering of Corebridge stock
6th November 2023
American International Group (AIG) has announced the launch of a secondary offering of Corebridge Financial common stock at $20.50 per share. AIG is offering 50 million existing shares of common stock (out of approximately 631 million total shares of common stock outstanding) of Corebridge, corresponding to approximately $1 billion of proceeds. AIG ... Read the full article
Arthur J. Gallagher acquires Dublin-based Keaney Insurance Brokers
6th November 2023
Arthur J. Gallagher & Co. has acquired Dublin, Ireland-based Keaney Insurance Brokers Ltd. Keaney is a commercial insurance broker that supports businesses across Ireland with insurance and risk management solutions. Terry Keaney, the firm's Managing Director, and his team will remain in their current location under the direction of Ronan Foley, head ... Read the full article
Porch Group insurance carrier HOA released from regulatory supervision
6th November 2023
Software company Porch Group has announced that Homeowners of America Insurance Company (HOA), its wholly owned insurance carrier subsidiary, has been released from the Texas Department of Insurance (TDI) temporary regulatory supervision. According to the announcement, the TDI “is satisfied with HOA’s capital surplus, financials, and operating plan following Porch Group’s ... Read the full article
Miller appoints William Seccombe to lead Financial Lines business in Asia
6th November 2023
Miller, a leading independent specialist (re)insurance broker, announced the appointment of William Seccombe as the new leader of its Financial Lines business in Asia. Seccombe joins Miller from Lockton, where he held the position of Regional Head of Transactional Risks in Asia Pacific, successfully establishing the firm's practice in the region. Prior ... Read the full article
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