Reinsurance News
Dale Underwriting appoints Carter Class Underwriter, Energy and Liability insurance
15th January 2024
Dale Underwriting Partners, the trading name for Dale Managing Agency Limited’s Lloyd’s Syndicate 1729, has appointed Andrew Carter as Class Underwriter, Energy and Liability insurance. Carter joins Dale from Markel International, where he most recently served as Director of Liability. Before this, he worked at QBE Syndicate 1036 for nearly two decades, ... Read the full article
60,518 claims received from Christmas and New Year storms: ICA
15th January 2024
The Insurance Council of Australia (ICA) has reported that insurers have now received a total of 60,518 claims related to the Christmas and New Year storms which impacted Queensland, New South Wales and Victoria. Back in December, the ICA declared a ‘Significant Event’ for the aforementioned regions which were impacted ... Read the full article
Resolution Re announces £2bn funded reinsurance transaction
15th January 2024
Resolution Life's Bermudian reinsurance platform, Resolution Re, has executed a new reinsurance transaction in which it reinsured the market and longevity risks of around 90,000 policyholders – c.£2 billion ($2.5bn) of individual in-payment UK annuity liabilities. The transaction was completed at the end of 2023, and is Resolution Re's second funded reinsurance ... Read the full article
Coalition appoints Mark Bird to lead UK Incident Response division
15th January 2024
Coalition has announced the appointment of Mark Bird as the head of Coalition Incident Response UK Ltd. (CIR), the company's affiliate incident response and cyber forensics organisation. Bird, a former Acting Sergeant in the police cybercrime unit, brings over 16 years of experience in investigating cybercrime with the West Midlands Police. Mark ... Read the full article
China’s property market downturn unlikely to trigger global financial crisis: Swiss Re
15th January 2024
The Swiss Re Institute has released an analysis on the ongoing downturn in China's property market, asserting that the risk of a global financial contagion is contained. Despite persistent concerns surrounding the potential spillover effects, the institute believes a broader financial crisis is unlikely. The report highlights key factors contributing to the ... Read the full article
Obra Capital acquires Unified Life
15th January 2024
Specialised asset management firm, Obra Capital, Inc., has completed the acquisition of Unified Life Insurance Company, a life and health insurance carrier with approximately 100,000 active policyholders and 49 associated licenses. Incorporating Unified’s existing insurance products and operating capability provides Obra with immediate access to life insurance markets and expands its ... Read the full article
AM Best maintains stable outlook for Panama’s insurance industry amid economic challenges
15th January 2024
AM Best, has maintained its stable outlook for Panama's insurance industry, highlighting the sector's consistent profitability in underwriting results and positive future prospects. Despite facing challenges from the macroeconomic environment, the industry appears resilient. Panama experienced an impressive 10.8% growth in gross domestic product in 2022, as reported by the International Monetary ... Read the full article
Whitespace and DataPro unveil innovative ‘Whitespace for Desktop’ tool
15th January 2024
In a strategic collaboration with DataPro, Whitespace, the fully digital e-trading platform and a Verisk company, has introduced "Whitespace for Desktop," a new tool designed to enhance user interaction with the Whitespace platform through Microsoft applications. Whitespace for Desktop facilitates seamless integration with Microsoft Excel, empowering users to upload and download ... Read the full article
Falvey Insurance appoints Brad Eldridge as Chief Relationship Officer
15th January 2024
Falvey Insurance Group, a specialty MGA, has appointed Brad Eldridge, formerly the Senior Vice President of Business Development, as its new Chief Relationship Officer. This appointment follows the retirement of Daryl Mackay, the former Chief Relationship Officer, who stepped down on December 31st, 2023. Mackay had an extensive insurance industry career, most ... Read the full article
BoE to keep funded reinsurance under review
12th January 2024
In a letter to Chief Executive Officers (CEOs), the Bank of England (BoE) has said that it continues to "pay close attention to the role of funded reinsurance in the UK life market," amid continued growth in the country's life insurance sector and strong demand in the bulk purchase annuity ... Read the full article
Dyad names Jeff Wargin as Chief Product Officer
12th January 2024
Dyad, a insurance software and services provider, announced the appointment of Jeff Wargin as Chief Product Officer (CPO). The announcement comes at a pivotal moment for Dyad, which recently unveiled its new brand on January 2, following a successful acquisition in 2023, signaling the company's commitment to expansion and innovation. With an ... Read the full article
Previsico appoints Craig Deacon as CFO
12th January 2024
Previsico, the live flood forecasting insurtech, has appointed Craig Deacon as its Chief Financial Officer (CFO). Most recently, Deacon served as the Vice President, Finance for Disguise Technologies. In his new role, Deacon takes on responsibility for delivering on Previsico’s international growth and financial strategy, as well as overseeing future Investor ... Read the full article
Intact estimates CAD$200m cat losses in Q4
12th January 2024
Intact Financial Corporation, the Canadian property and casualty (P&C) insurer, has estimated total losses from catastrophe events in the fourth quarter of 2023 of approximately CAD $200 million, on a pre-tax basis and net of reinsurance, for it's continuing and exited lines of business. This compares to the $611 million ... Read the full article
SCOR to relocate London office to 8 Bishopsgate
12th January 2024
Global re/insurer SCOR has signed a 15-year lease for around 50,000 sq. ft office space with Mitsubishi Estate London and Stanhope. SCOR will take up over two and a half floors at one of London’s most sought-after office buildings, 8 Bishopsgate. Knight Frank and Newmark BH2 acted on behalf of Stanhope and ... Read the full article
Chaucer reports surge in sovereign debt downgrades
12th January 2024
In the past year, Chaucer, global specialty re/insurance firm, has observed a staggering 43 sovereign debt downgrades worldwide. The combination of soaring inflation and escalating global interest rates has sparked concerns about the ability of numerous countries, including economic heavyweights like the United States and France, to meet their debt obligations. The ... Read the full article
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