Reinsurance News
Somerset Re hires SCOR’s Manisha Dias as Head of New Business Development
11th January 2024
Life and annuity reinsurance company, Somerset Reinsurance Ltd., has appointed Manisha Dias as its Head of New Business Development with immediate effect, based in Bermuda. Dias will be reporting to Jeff Burt, Somerset's Chairman and Chief Executive Officer. Burt commented on the appointment, “I am delighted that Manisha, such an experienced and ... Read the full article
hyperexponential targets US expansion with close of $73m Series B funding round
11th January 2024
London headquartered provider of pricing decision intelligence (PDI) software, hyperexponential, has closed its $73 million Series B funding round, which will support its expansion into the U.S., and greater investment in new product capabilities to meet increased demand. This latest funding round was led by Battery Ventures, a global technology-focused investment ... Read the full article
OIR reports decline in percentage of nationwide homeowners’ lawsuits opened in Florida
11th January 2024
Data from the Florida Office of Insurance Regulation (OIR) suggests that the introduction of legislation and reforms designed to curb excessive litigation associated with the use of Assignment of Benefits (AOB), and ultimately stabilise the state's property insurance market, could be working. The OIR's recently published Property Insurance Stability Report explores ... Read the full article
Swiss Re forecasts strong growth and improved profitability for US P&C insurance in 2024
11th January 2024
The US Property and Casualty (P&C) insurance industry is poised for a robust year in 2024, as indicated by a recent report from the Swiss Re Institute. The industry enters the new year with strong momentum, following a period where profitability lagged behind insurers' cost of capital. However, 2023 saw a turnaround, ... Read the full article
CCR RE promotes Guzman to Life underwriter for LatAm & Spain
11th January 2024
CCR RE, the French reinsurance company, has promoted Georges Guzman to Life underwriter for Latin America and Spain, further strengthening it's underwriting team. He joined the firm in 2016, and has since been a senior analyst in natural catastrophe modelling within CCR Re's Actuarial and Risk Department. Prior to joining the French reinsurer, ... Read the full article
DeNexus expands leadership team by hiring Sahuquillo as CFO
11th January 2024
DeNexus, a provider of cyber risk modeling for industrial networks, has strengthened it's leadership team with the appointment of Luis Javier Sahuquillo as Chief Financial Officer (CFO). He brings a deep level of financial expertise and strategic insight towards his new role. In fact, Sahuquillo, has already impacted the company, playing a ... Read the full article
Berkshire (BHSI) appoints Perry as Vice President, Head of Underwriting Support
11th January 2024
Berkshire Hathaway Specialty Insurance (BHSI), the property & casualty insurer, has appointed Kelly Perry to the newly created position of Vice President, Head of Underwriting Support for the firm's Surety business. Perry, based in Atlanta, brings more than 25 years of surety claims experience towards her new role. BHSI noted that she ... Read the full article
AGE secures €93.7m loan guarantee for Metro de Madrid’s train fleet expansion
11th January 2024
Assured Guaranty (Europe) SA (AGE), an indirect subsidiary of Assured Guaranty Ltd., has announced the successful guarantee of a €93.7 million loan to Metro de Madrid, S.A. The 20-year, floating-rate loan, provided by Bankinter, S.A., will facilitate the acquisition of 40 new narrow gauge and 40 new wide gauge trains for ... Read the full article
HDI Global Specialty takes control of MGA Falcon Risk
10th January 2024
HDI Global Specialty, a wholly owned subsidiary of HDI Global and part of the Talanx Group, has acquired Griffin Highline Capital LLC's share in managing general agency (MGA) Falcon Risk Holdings LLC. Falcon Risk was established by Chief Executive Officer (CEO) Craig Landi, Griffin Highline, and HDI in 2021. HDI also ... Read the full article
AXA XL names John Schwirtz Head of Construction, US Mid-Market
10th January 2024
AXA XL has strengthened its U.S. Mid-Market insurance business, extending its multi-line insurance offering to mid-size construction businesses with the addition of John Schwirtz as Head of Construction, US Mid-Market. Schwirtz joins AXA XL from Liberty Mutual where he most recently served as Division Vice President, Middle Market Northeast. Collectively, he holds ... Read the full article
iSwiss Reinsurance gets licence to operate in UAE reinsurance market
10th January 2024
iSwiss Financial Group has announced that the United Arab Emirates has granted the group's new company, iSwiss Reinsurance, a licence to operate in the country's reinsurance market, from where it will also offer its services globally. The iSwiss Group explained that its decision to expand its insurance business is "undoubtedly" due ... Read the full article
Generali strengthens presence in China with full acquisition of Generali China Insurance
10th January 2024
Generali has signed an agreement to acquire the remaining 51% stake in Generali China Insurance Company Limited (GCI), making it the sole owner of the property and casualty insurance business in China. The deal, valued at approximately €99 million, marks a significant step in Generali's strategic expansion in key Asian markets. The ... Read the full article
Alfred Sham named interim CEO, Howden Hong Kong
10th January 2024
Global insurance group Howden, has announced that Alfred Sham has stepped up to the position of interim CEO, Hong Kong, as Mark Johnson will be stepping down from the role. Howden has confirmed that Johnson will remain with the firm to ensure an orderly transition until the spring, when he leaves ... Read the full article
Compre completes two European liability portfolio acquisitions
10th January 2024
Bermuda-domiciled legacy group Compre has acquired two portfolios of European casualty and motor liabilities from separate undisclosed international insurance groups. According to Compre, all necessary approvals have been granted by Bermudian and European regulators. This allows the firm's class 3B Bermudian reinsurer, Pallas Reinsurance Company Ltd., to reinsure approximately €200m of reserves ... Read the full article
Sustainability, technology and geopolitical challenges top risks for transport industry
10th January 2024
A new report from Lloyd's, the global insurance and reinsurance marketplace, in collaboration with WTW, delves into the challenges and opportunities facing the global transport and logistics industry. Titled On the move: Rethinking transport and logistics supply chains, the report underscores the risks and insurance prospects within a $9.7 trillion industry ... Read the full article
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