Reinsurance News
MNK Re appoints Giles Ham as Associate Director, Surety
2nd May 2024
MNK Re, an independent broker of specialist risks into Lloyd’s, has appointed Giles Ham as Associate Director, Surety. The appointment will allow MNK Re to expand its international presence in the sector, facilitating coverage for difficult and hard-to-place risks worldwide. The broker stated as a well-known practitioner in the international market, having ... Read the full article
Hiscox Re & ILS grows 19% in Q1 2024 as it continues to deploy capital
2nd May 2024
International specialist insurer Hiscox has announced net insurance contract written premium (ICWP) within Hiscox Re & ILS grew 19.0% as the business continued to seize attractive market opportunities deploying additional capital and new quota share capacity. In Q1 2024, the international reinsurance and insurance-linked securities (ILS) arm of the Hiscox Group ... Read the full article
AXIS sees sharp rise in net income in Q1, CR sits at 91.1%
2nd May 2024
AXIS Capital Holdings Limited has reported a substantial rise in net income for the first quarter of 2024, as it climbed to $388 million from the $173 million figure that the company posted in the first quarter of 2023. Operating income for Q124 sat at $220 million, compared to operating income ... Read the full article
Lancashire’s GPW hit $631.7m in Q1, insurance revenue climbs 24.6%
2nd May 2024
Lancashire Holdings has announced that gross premiums written in Q1 of 2024 increased by 7.8% year-on-year to $631.7 million, while its insurance revenue increased by a huge 24.6% year-on-year to $422 million. As per Lancashire, the reinsurance segment contributed $399.7 million to the Q1 total gross premiums written figure, with the ... Read the full article
Cytora partners with driver risk platform SambaSafety
2nd May 2024
Digital risk processing platform Cytora has partnered with driver risk management platform SambaSafety, in a move that is anticipated to enable commercial insurance underwriters to gain deeper insights when assessing the business risks associated with driving safety records. From what we understand, the integration of driving intelligence data from SambaSafety directly ... Read the full article
AIG reports Q1 net income of $1.2bn, GI CoR improves to 89.8%
2nd May 2024
In its Q1 2024 results, AIG has reported net income attributable to its common shareholders of $1.2 billion, marking a massive improvement compared to the $23 million recorded in the prior year quarter. According to AIG, the increase in net income was primarily driven by net realized gains on Fortitude Re ... Read the full article
InsurTech market sustainability grows as investors spread capital more evenly: Gallagher Re
2nd May 2024
A new report from Gallagher Re has revealed that Q1 2024 global InsurTech funding dropped 17.3% quarter on quarter to $912.3 million, though deal count climbed to 107, indicating that frequency and interest are not waning, but the average check size per deal is decreasing. As per the reinsurance broker's Global ... Read the full article
Ardonagh will acquire Mansutti S.r.l to expand European presence
2nd May 2024
The Ardonagh Group, an independent insurance broker, has announced that it will acquire Mansutti S.r.l, the commercial lines division of Italian insurance broker Mansutti S.p.A. Founded in 1925, Mansutti S.p.A has established a reputation for serving personal customers through the biggest brands and enterprises in Italy. The brokerage has most recently ... Read the full article
Allianz to extend market visibility with LV= Broker rebrand and new leadership appointment
2nd May 2024
Allianz has announced the rebrand of its personal lines broker business from LV= Broker to Allianz, the latest strategic advance for its brand in the UK. Nicola George, who joined the company recently, will lead this part of the Allianz business as managing director. With around 750,000 customers holding an LV= Broker ... Read the full article
AXA Mansard appoints Ayomide Xavier Iyanda as Head Reinsurance
2nd May 2024
AXA Mansard, a member of the AXA Group, has appointed Ayomide Xavier to the position of Head Reinsurance. With five years of experience in the insurance and reinsurance industry, Iyanda brings a wealth of valuable skills to his new position. Before joining AXA Mansard, Iyanda served as a Reinsurance Analyst at Leadway ... Read the full article
QBE NA launches Healthcare Liability practice for comprehensive coverage
2nd May 2024
QBE North America has launched a specialised Healthcare Liability practice, offering a comprehensive range of coverages tailored to help customers navigate evolving risks and enhance resilience. This initiative aims to address the distinct needs of healthcare organisations. At the forefront of this offering is QBE's flagship Miscellaneous Medical Liability product, the first ... Read the full article
PT Axle Asia rebrands as bolttech
2nd May 2024
PT Axle Asia, an Indonesian insurance broker, has been renamed PT Bolttech Insurance Broker. The rebrand follows the completion of bolttech's acquisition of the majority shareholding in Axle Asia in late 2022. The Financial Services Authority, Otoritas Jasa Keuangan (OJK) has approved this rebrand, which is in line with its goal ... Read the full article
World Insurance Associates appoints Ken Bond as Chief Corporate Development Officer
2nd May 2024
World Insurance Associates LLC (World) has announced the appointment of industry veteran Ken Bond as Chief Corporate Development Officer. In his new capacity, Bond will oversee corporate development for all three of World's businesses, which include retail insurance, retirement plan and wealth management services, and wholesale insurance. Rich Eknoian, Chief Executive Officer ... Read the full article
Florida market in a much better place ahead of renewals but RenRe remains cautious: CEO O’Donnell
1st May 2024
Bermuda-based reinsurer RenaissanceRe (RenRe) is seeing additional demand for reinsurance in Florida, but while the company also anticipates good discipline from the market at the June 1 renewals and feels the Florida market is in a better place, it remains cautious. Speaking recently during RenRe's Q1 2024 earnings call, executives ... Read the full article
Verisk reports Q1 consolidated revenues of $704m
1st May 2024
Verisk has revealed that consolidated revenues in Q1 of 2024 were $704 million, up from $652 million in the previous year. Elsewhere, Verisk's underwriting revenues increased 8.2% in the quarter and 7.8% on an organic constant currency (OCC) basis. The firm explained that this was primarily due to its forms, rules ... Read the full article
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