Reinsurance News
Lockton names Andrea Lieberman U.S. Financial Services Claims Leader
10th November 2023
Independent insurance broker Lockton has announced the appointment of Andrea Lieberman as U.S. Financial Services Claims Leader. In her new role, Lieberman will lead the Financial Services claims team and drive the practice's strategic vision to deliver the best possible claims experience and results for clients. She brings over three decades of ... Read the full article
Conifer Holdings posts 16.5% increase in GWP in Q3
10th November 2023
Conifer Holdings has reported its gross written premiums for the third quarter of 2023 increased 16.5% to $38.5 million, compared to $33.1 million in the prior year period. The company said that this top line growth derived primarily from continued expansion within select key verticals that have demonstrated strong performance. Conifer Holdings' ... Read the full article
Bailenson to become COO of Assured Guaranty, Rosenblum to succeed him as CFO
10th November 2023
Assured Guaranty Ltd. has announced that, as of January 1, 2024, Chief Financial Officer Robert A. Bailenson will become Chief Operating Officer, while Chief Actuary Benjamin G. Rosenblum will succeed him as Chief Financial Officer. In his new role as COO, Bailenson will hold responsibility for various strategic initiatives as Assured ... Read the full article
Aon expands Climate Risk Advisory function across Risk Capital
10th November 2023
Aon has expanded its Climate Risk Advisory function across the firm’s Risk Capital capability, to "further serve clients’ advanced risk analytics needs in both Commercial Risk Solutions and Reinsurance Solutions." The expanded service will continue to be led by Liz Henderson, global head of Climate Risk Advisory for Risk Capital. Henderson has ... Read the full article
Allianz Q3 operating profit down 14.6% driven by impact of nat cats
10th November 2023
Allianz has reported that its operating profit dropped 14.6% to €3.5 billion in Q3, driven by the Property-Casualty business segment affected by a 7.3 percentage point impact by natural catastrophes on the combined ratio, the highest in a decade. The firm's net income in Q3 was €2.1 billion, down by 29.3%, ... Read the full article
SCOR posts 90.2% P&C combined ratio as nat cat losses exceed budget in Q3
10th November 2023
French reinsurer SCOR has reported Group net income of €147 million for the third quarter of 2023 and an improved P&C combined ratio of 90.2%, despite natural catastrophe losses coming in above budget and large man-made claims. In its results, SCOR states that while the attritional loss ratio is satisfactory for ... Read the full article
Tint announces strategic partnership with RVI Group
10th November 2023
Tint, the embedded protection platform, has announced its partnership with RVI Group, a subsidiary of Group 1001, designed to revolutionise embedded protection programs. Unveiled at InsurTech Connect in Las Vegas, this collaboration is said to signify a significant step forward in the emerging field of embedded protection. Tint's innovative approach allows companies ... Read the full article
Global M&A insurance claims rise on elevated dealmaking activity: Liberty GTS
10th November 2023
The rise in global M&A insurance claims is being driven by exceptional levels of dealmaking activity in 2021 and 2022, according to a recent report by Liberty Global Transaction Solutions (GTS), part of Liberty Mutual Insurance. The report is based on the company’s analysis of Liberty GTS’s own M&A insurance claims ... Read the full article
Great-West Lifeco sees base earnings increase to $950m in Q3
10th November 2023
Great-West Lifeco Inc. reported a solid increase in its base earnings in the third quarter of 2023, as they rose from $809 million to $950 million. The firm attributed the sharp increase primarily to business growth, as well as higher average equity markets and interest rates. At the same time, Great-West Lifeco ... Read the full article
SRS launches MGU Altitude, its latest ART venture
10th November 2023
Strategic Risk Solutions (SRS), an independent provider of re/insurance and captive management services, has announced the launch of Altitude, a Managing General Underwriter (MGU) aimed to expand its Alternative Risk Transfer (ART) offering. Headquartered in Zurich, SRS Altitude, will operate as an independent entity under the SRS umbrella, offering a comprehensive ... Read the full article
OneBefore launches as new accident, health & travel MGA
10th November 2023
OneBefore, a progressive underwriter-led MGA has announced its official launch. The company is founded by market specialist Vered Lobel, who brings her extensive experience as a pricing actuary to lead the firm. She previously served as the Head of UK Underwriting, Personal Accident and Travel at AIG UK. Headquartered in London, OneBefore will ... Read the full article
Further reserve strengthening expected as inflation persists: AM Best’s Carter
9th November 2023
There's been a decline in the positive contribution from reserve releases on combined ratios for reinsurers, and as inflation remains relatively elevated in US markets, further reserve strengthening is expected, according to Greg Carter, Managing Director, Analytics, AM Best. Speaking earlier this week during AM Best's Europe Insurance Market Briefing in ... Read the full article
John Owen appointed Chief Executive of AXIS Managing Agency
9th November 2023
AXIS Capital, a global specialty underwriter and provider of insurance and reinsurance solutions, has appointed John Owen as Chief Executive of AXIS Managing Agency Limited (AMA), subject to regulatory approval. According to AXIS, in his new role, Owen will be responsible for AMA, the managing agent arm of AXIS Capital that ... Read the full article
Ex Goldman Sachs execs team up with industry veterans to launch transactional risk firm
9th November 2023
Ex Goldman Sachs executives have partnered up with industry veterans to launch Birch Risk Advisors, a New York-based firm that provides specialized insurance solutions for unique transactional risks. Backed by global insurer AmTrust Financial, the new insurance advisory firm will be led by Steve Bunson, Barry Sklar, Sheldon Elefant, and David ... Read the full article
Brookfield Reinsurance sees $77mn net income in Q3 2023
9th November 2023
Brookfield Reinsurance has announced its financial results for the third quarter of 2023 reporting a net income of $77 million, which compares to the $139 million reported in the same period last year. According to Brookfield, this figure was the result of contributions from the firm’s distributable operating earnings (DOE), less ... Read the full article
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