Reinsurance News
Agreement to operationalise loss & damage fund reached at COP28
30th November 2023
After being agreed at COP27 in Sharm El Sheikh, the loss and damage fund became operational today as world leaders meet in Dubai for the start of this year's annual climate conference, with the UAE announcing a commitment of $100 million to the fund. The "historic agreement" to operationalise the fund ... Read the full article
Lowery-Biggers and Reiss join Compre’s Board in Bermuda
30th November 2023
Compre, an international legacy group, has announced the appointment of LoriAnn Lowery-Biggers and Jonathan Reiss as independent non-executive directors of its holding company in Bermuda, subject to regulatory approval. Lowery-Biggers brings more than 25 years of experience in the global finance and insurance industries to the company’s board. She has held notable ... Read the full article
New capital still cautious, any new entrants unlikely to move reinsurance market: AM Best
30th November 2023
AM Best's latest reinsurance segment market report states that while established capital remains supportive, new capital remains cautious, as the ratings agency highlights the distinction between available and deployed capital. The report reminds readers that not all available capital translates automatically into deployed capital. "Despite all the noise around unrealized investment losses ... Read the full article
Polo Managing Agency enhances client services through partnership with VIPR
30th November 2023
Polo Managing Agency (PMA), a prominent turnkey managing agency at Lloyd’s, has unveiled a collaboration with insurance technology company VIPR. This strategic partnership aims to elevate PMA's managed delegated authority relationships by integrating VIPR’s cutting-edge bordereaux management systems into PoloWorks’s services, the company said. PoloWorks's clients will now have seamless access to ... Read the full article
Synpulse announces partnership with insurtech Cenata
30th November 2023
Synpulse, a global professional services company, has partnered with insurtech software provider Cenata for its outwards reinsurance system. Cenata’s CenataSure, provides real time outwards reinsurance management for commercial insurers and reinsurers. The system is acclaimed for its automation, integration, and reporting features, These are capabilities a modern operating model for ceded business ... Read the full article
PPL hires Mark Griffith as Chief Information Officer
30th November 2023
Placing Platform Limited has announced that Mark Griffith has been appointed to take on the role of Chief Information Officer. He is set to join the business in January 2024, where he will report to Joe Gordon, PPL CEO. In his new role, Griffith is set to assume overall responsibility for PPL’s ... Read the full article
Host of economic shocks escalating debt crisis in emerging markets: WTW
30th November 2023
As per the latest Political Risk Index report from WTW, elevated government expenditures during the pandemic, global inflation, and increased interest rates in 2023 have contributed to an "escalating debt crisis in emerging markets." Evan Freely, Global Head of Financial Solutions, WTW, commented, “A conveyor belt of economic shocks has hit ... Read the full article
HDI Global reports stronger combined ratio of 92.7% for 9M’23
30th November 2023
Industrial insurer HDI Global, a part of the Talanx Group, has reported an improved year-over-year combined ratio of 92.7% from 95.4% for the first nine months of the year, as well as strong revenue and earnings growth. The company reported a 10% rise in insurance revenue to €6.6 billion, driven by ... Read the full article
Geopolitical tensions driving a decline of trust, says Swiss Re’s Mumenthaler
30th November 2023
Speaking on a panel on day two of The Geneva Association's 50th Summit in Zurich, Christian Mumenthaler, CEO of Swiss Re, said that amid the current geopolitical tensions, many investors are turning negative on risk-taking assets, preferring risk-free assets, which is contrary to what has occurred in the last decade. Discussing ... Read the full article
Rokstone launches contingency account in UK and Europe
30th November 2023
Rokstone, an international speciality re/Insurance MGA, part of the Aventum Group, has launched a new Contingency Portfolio as demand for the product grows. With exclusive backing from A rated carriers, Rokstone’s new contingency account will be initially launched in the UK and Europe with plans to expand in other regions including ... Read the full article
Continuum strengthens senior team with two new specialist hires
30th November 2023
M&A advisory firm, Continuum Advisory Partners, has announced the appointment of two new Senior Managing Directors, Duncan Buck and Andrew Gould. A financial services banker with over 25 years’ M&A experience, Buck is joining Continuum from Fenchurch Advisory Partners. In his new role, to begin in early 2024, he will primarily focus ... Read the full article
Global reinsurers maintain strong financial standing despite challenges: Fitch
30th November 2023
In Fitch Ratings' latest peer review for large global reinsurers in November 2023, the industry has demonstrated resilience with a consistent strong to very strong capitalisation. The assessment, based on Fitch's risk-based Prism Factor-Based Capital Model, indicates that the capital adequacy of all reinsurers in the peer group remained robust as ... Read the full article
First-of-its-kind InsurTech Coalition launched by Lemonade, Root, Clearcover, & others
30th November 2023
Members from Boost, Branch, Clearcover, Lemonade, Root Insurance, and others, have launched an advocacy group called InsurTech Coalition that aims to shape the industry’s future. Insurtech Coalition has published an open letter to the industry that lays out its founding principles, which includes using technology responsibly within insurance. The letter reads: "The ... Read the full article
The Hartford announces key leadership appointments
30th November 2023
Property and casualty insurer The Hartford has named A. Morris Tooker as the Head of Commercial Lines, Melinda Thompson as Head of Personal Lines, Don Hunt as General Counsel, Chris Jones is now head of Small Commercial, and Tracey Ant has been appointed as Head ... Read the full article
It’s time for the re/insurance industry to show its value in climate fight: IDF
30th November 2023
There’s an urgent need to bring the voice of insurance to the fore of the climate debate and the industry must work to show its value and find sustainable ways of building resilience against adverse weather and climate events, according to the Insurance Development Forum (IDF). As the world meets in ... Read the full article
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