Reinsurance News
Tim Coles named CEO for European brokerage operations at Bridge Specialty Group
24th November 2023
Bridge Specialty Group, the Wholesale Brokerage segment of Brown & Brown, Inc. has appointed Tim Coles as Chief Executive Officer (CEO) for the European brokerage operations of Bridge Specialty Group. His new role is effective as of January 1, 2024. Coles most recently served as CEO of Xenia Broking Group, part of ... Read the full article
APAC insurance market insights from Swiss Re’s Daisy Ning
23rd November 2023
In a recent interview with Reinsurance News, Daisy Ning, Head of Life & Health Re APAC excluding China at Swiss Re, provided valuable insights into the insurance landscapes of various Asia-Pacific (APAC) markets. Singapore: Steady Growth and Changing Consumer Awareness "Singapore is an interesting market. So, it's been on this steady growth, ... Read the full article
Lloyd’s announces consultation on roadmap for insuring low-carbon transition
23rd November 2023
The world's oldest insurance market, Lloyd's, has launched a consultation which sets out its proposed approach for the next three years across all areas of sustainability, as it looks to support global ambitions to achieve net zero. The consultation on its roadmap sets out the Lloyd's approach across underwriting, investments, exposure ... Read the full article
Harneys strengthens Bermuda law offering with new hire
23rd November 2023
Harneys, a global offshore law firm with a specialism in re/insurance law, has hired Bermudian Litigation, Insolvency and Restructuring Partner Henry Tucker and appointed him as the firm’s Bermuda Office Managing Partner, effective November 21. Tucker advises creditors groups, boards, shareholders, liquidators, trustees and beneficiaries of Bermuda structures in relation to ... Read the full article
Reinsurance rate increases for property cat to slow in 2024: Fitch
23rd November 2023
As per a new report from Fitch Ratings, reinsurance rate increases for property catastrophe business are likely to slow to below 10% on average when contracts are renewed in January 2024, though underlying profitability for the sector is still expected to improve throughout the year. "Price increases, and better terms and ... Read the full article
CarbonPool appoints Mathilda Strom as Chief Commercial Officer
23rd November 2023
CarbonPool, a Swiss-based insurance start-up, has announced the appointment of Mathilda Strom as Chief Commercial Officer. An experienced entrepreneur, Strom brings to her new role nearly two decades experience in building category-defining businesses worldwide. Strom co-founded BIMA, a microinsurance and digital health player in emerging markets, she helped to redefine how low- ... Read the full article
Risk exchange start-up CatX raises $2.7mn in seed funding
23rd November 2023
CatX, a digital catastrophe and parametric risk exchange start-up, has successfully raised $2.7 million in seed funding to bring more alternative capital into the insurance sector. This funding round marks a key milestone for the company in its mission to bridge the gap between supply and demand in the reinsurance industry, ... Read the full article
Chubb ranked largest US cyber insurer for third year running by AM Best
23rd November 2023
The latest data from ratings agency AM Best confirms that Chubb remains the largest cyber insurer in the US when ranked by direct premiums written (DPW) in 2022. With DPW of $604.9 million in 2022, Chubb tops the list of the top 20 US cyber insurers, and now has a market ... Read the full article
Westland appoints Don Thompson as Chief Operating Officer
23rd November 2023
Insurance broker Westland has announced the appointment of Don Thompson as its new Chief Operating Officer (COO), effective January 1, 2024. Thompson is an industry veteran with over three decades of experience in the insurance industry. In his new role, he will be responsible for leading Westland’s national operations, helping the ... Read the full article
CCR estimates cost of flooding in Hauts-de-France at €550mn
23rd November 2023
French reinsurer CCR has estimated the cost of flooding in Hauts-de-France at €550 million, at least half of which will be covered by the reinsurer’s natural catastrophe scheme. The region has experienced unconventional flooding due to a succession of rainy episodes associated with storm Ciarán, which also caused flooding in ... Read the full article
Allianz could lift nat cat budget to enhance underwriting discipline: Berenberg
23rd November 2023
In a recent fireside chat with Allianz's head of investor relations, Oliver Schmidt, the insurance giant revealed that it could modestly increase its natural catastrophe budget. The move would aim to fortify the company's underwriting discipline and align pricing strategies with potential risks. Investors raised inquiries about the rationale behind augmenting the ... Read the full article
MNRB Holdings Berhad posts improved reinsurance profit
23rd November 2023
MNRB Holdings Berhad, the parent to Malaysian Re, has reported a strong financial performance for its first six-month period ended 30th September 2023, on the back of steady growth in the Group’s reinsurance and takaful businesses. MNRB’s group net profit improved substantially to RM111.1 million (USD 24m) in the period, compared to ... Read the full article
Lloyd’s syndicate forecasts showing continuous improvements, says Argenta
23rd November 2023
Lloyd’s has released the updated forecasts for all syndicates’ 2021 and 2022 years of account. Argenta Holdings Ltd., an underwriting and insurance services group operating in the Lloyd’s Market, and a wholly owned subsidiary of reinsurer Hannover Re, states that the forecasts for both underwriting years continues to improve. The company noted ... Read the full article
Tower falls to reported loss as large event costs rise to $55.6m for FY23
23rd November 2023
Kiwi insurer Tower has reported a net loss for the year ended September 30 2023, as the firm's combined ratio deteriorated by more than 10 percentage points on the back of an elevated catastrophe loss experience. For the year to 30 September 2023, the insurer recorded an underlying profit including large ... Read the full article
Beat appoints Cunningham as active underwriter of Syndicates 4242 and 1416
23rd November 2023
Beat Capital Partners has announced that Andrew Cunningham, former deputy active underwriter, has assumed the role of active underwriter of Syndicates 4242 and 1416, effective immediately. Cunningham is a qualified actuary and knowledgable underwriter who collectively holds more than three decades of experience. Acting as deputy active underwriter since 2019, Cunningham has ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
