Reinsurance News
White Mountains reports GWP rise for Ark in Q3’23 to $251 million
6th November 2023
White Mountains has released its third-quarter results for 2023, saying that its Ark partner firm saw gross written premiums rise to $251 million at Q3'23 compared with $216 million in Q2'22. Ark saw GWP rise to $1,667 million for the first nine months of 2023, compared to $1,253 million in 2022. It ... Read the full article
Cloud concentration a top emerging risk for organizations: Gartner
6th November 2023
Cloud concentration has become a significant emerging risk for many organisations, according to a recent survey by Gartner, Inc. The Gartner 3Q23 Emerging Risk Report surveyed 294 risk executives about their views on emerging risk or over-the-horizon risks. It found that the risk associated with dependence on a particular cloud provider for ... Read the full article
Coalition launches Active Cyber Insurance in Australia
6th November 2023
Coalition has introduced its suite of Active Cyber Insurance products in Australia. This insurance offering is designed to go beyond risk transfer, actively assisting organisations in understanding their cyber risk profiles, enhancing their cybersecurity defenses, and proactively preventing future cyberattacks, the company said. In recent years, Australia has witnessed numerous high-profile cyber ... Read the full article
EAIC gains 10 new founding members, launches insurance AI research initiative
6th November 2023
The Ethical AI in Insurance Consortium (EAIC) has made significant strides in its mission to promote responsible and transparent AI adoption in the insurance sector with the addition of 10 new founding members. This expansion of expertise promises to have a substantial impact on the industry. Among the new members, Brian Casey, ... Read the full article
Vandermyde and Berisha join Rokstone North America Marine team
6th November 2023
Rokstone, the Aventum Group’s international (re)insurance MGA, has expanded its North American marine operation with the appointment of Alex Berisha as Head of US Marine Cargo and Derek Vandermyde as Underwriting Manager, Inland Marine. The pair will be based in New York and are to join Rokstone next month after serving ... Read the full article
AIG announces launch of secondary offering of Corebridge stock
6th November 2023
American International Group (AIG) has announced the launch of a secondary offering of Corebridge Financial common stock at $20.50 per share. AIG is offering 50 million existing shares of common stock (out of approximately 631 million total shares of common stock outstanding) of Corebridge, corresponding to approximately $1 billion of proceeds. AIG ... Read the full article
Arthur J. Gallagher acquires Dublin-based Keaney Insurance Brokers
6th November 2023
Arthur J. Gallagher & Co. has acquired Dublin, Ireland-based Keaney Insurance Brokers Ltd. Keaney is a commercial insurance broker that supports businesses across Ireland with insurance and risk management solutions. Terry Keaney, the firm's Managing Director, and his team will remain in their current location under the direction of Ronan Foley, head ... Read the full article
Porch Group insurance carrier HOA released from regulatory supervision
6th November 2023
Software company Porch Group has announced that Homeowners of America Insurance Company (HOA), its wholly owned insurance carrier subsidiary, has been released from the Texas Department of Insurance (TDI) temporary regulatory supervision. According to the announcement, the TDI “is satisfied with HOA’s capital surplus, financials, and operating plan following Porch Group’s ... Read the full article
Miller appoints William Seccombe to lead Financial Lines business in Asia
6th November 2023
Miller, a leading independent specialist (re)insurance broker, announced the appointment of William Seccombe as the new leader of its Financial Lines business in Asia. Seccombe joins Miller from Lockton, where he held the position of Regional Head of Transactional Risks in Asia Pacific, successfully establishing the firm's practice in the region. Prior ... Read the full article
McGill and Partners launches self-contained coverage for corporate insolvency called SAIFElimits
6th November 2023
McGill and Partners, the global boutique specialist (re)insurance broker, has launched a ready-made and self-contained coverage solution for corporate insolvency, known as SAIFElimits. This innovative offering is designed to seamlessly integrate into primary directors' and officers' ("D&O") policies, automatically triggering coverage upon the occurrence of an insolvency event. SAIFElimits is specifically engineered ... Read the full article
Markel adds AIG’s Chris Conyard to DS&BD team
6th November 2023
Markel, the insurance operation within Markel Group Inc., has announced the appointment of Chris Conyard as Digital & Portfolio Executive in its distribution strategies and business development (DS&BD) team. Based in London, Conyard will work closely with the underwriting and business development teams to support Markel’s long-term sustainable growth and operational ... Read the full article
John Rollins appointed Anchor Insurance Holdings CEO
6th November 2023
The Board of Directors of Anchor Insurance Holdings have appointed John Rollins as Chief Executive Officer. Anchor was a provider of insurance coverage to homeowners in need, particularly those who live in storm-prone areas. The firm previously offered home insurance in 13 states, including South Carolina, Georgia, Mississippi, Louisiana, Texas, Oklahoma, Tennessee, ... Read the full article
Corebridge Financial reports 13% fall in Q3’23 net income
6th November 2023
Corebridge Financial has reported a net income of $2.1 billion in the third quarter of 2023, representing a 13% decrease compared to the prior year quarter, largely driven by lower realised gains. Adjusted pre-tax operating income (APTOI) was $813 million, a 29% increase over the prior year quarter. Excluding variable investment ... Read the full article
Verlingue launches Verlingue London Markets
6th November 2023
Verlingue has launched Verlingue London Markets following the rebranding of specialist Lloyd’s and London market wholesale broker NBJ London Markets. NBJ London Markets, which specialises in placing risks for motor fleet, property, and liability, serves both parent broker Verlingue UK, and several independent community brokers across the UK. Verlingue's UK CEO, Mike ... Read the full article
Trisura’s Q3’23 net income falls 38.7% to $14.8 million
6th November 2023
Specialty insurance provider, Trisura Group, has reported $14.8 million of net income in the third quarter of 2023, a decrease of 38.7% compared to $24.2 million from the prior year quarter, primarily due to costs related to the run-off of a US fronting program. Gross premiums written is replaced by insurance ... Read the full article
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