Reinsurance News
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
Mosaic’s move to Manhattan marks advancement in US market growth
3rd May 2024
Mosaic Insurance, a global specialty insurer, has relocated its New York City office to Manhattan to accommodate its expanding business and future ambitions in the US market. The new office is situated on the 42nd floor of One Grand Central Place at 60 East 42nd Street. This move signifies a significant milestone ... Read the full article
Munich Re launches generative AI REALYTIX ZERO Co-Pilot
3rd May 2024
Munich Re's REALYTIX team has launched a generative AI co-pilot facilitating insurance solution development of clients. With REALYTIX ZERO, Munich Re has been providing a cloud-based underwriting platform with based on its underwriting expertise since 2018, helping primary insurers, MGAs and brokers to digitalise and automate the underwriting of their products. Built ... Read the full article
TWIA reinsurance renewal proceeds at pace. $750m placed, plus $1.4bn cat bond
3rd May 2024
With the Texas Windstorm Insurance Association (TWIA) requiring its largest reinsurance purchase on-record given its significant exposure growth, the residual market insurer is making rapid progress, with $750 million of its traditional reinsurance needs already secured in April. That is on top of a $1.4 billion Alamo Re 2024-1 catastrophe ... Read the full article
Trisura reports significant net income surge in Q1’24 results
3rd May 2024
Specialty insurance provider Trisura Group has reported a remarkable net income of $36.4 million for the first quarter of 2024, representing a significant 160.7% increase compared to $14 million in the same period last year. The company attributes this impressive surge to several factors, including business growth, enhanced profitability in US ... Read the full article
AXA XL names new Chief Client & Distribution Officer, Americas
3rd May 2024
AXA XL has announced the appointment of Matthew V. O'Malley to the newly created role of Chief Client & Distribution Officer for the Americas. In his new role, O'Malley will lead AXA XL's US zonal teams, Canada and Bermuda country distribution, client engagement, broker engagement, and marketing activities in the Americas. He ... Read the full article
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