Reinsurance News
mShift partners with CyberCube to revolutionise cyber insurance analytics delivery
5th December 2023
Millennial Shift Technologies Inc. (mShift) has announced a strategic partnership with CyberCube, a leading cyber risk analytics platform. The collaboration aims to automate the delivery of cyber insurance analytics through an integrated solution that enhances workflow efficiency for insurance professionals while delivering an enriched client experience. mShift, a digital platform designed to ... Read the full article
Fitch forecasts Stable outlook for German non-life insurance in 2024
4th December 2023
In its latest sector outlook report, Fitch Ratings anticipates a stable trajectory for German non-life insurance in 2024. The analysis highlights key factors contributing to this outlook, including expectations of reduced inflationary pressure on motor and property claims, improved investment income due to higher fixed-income yields, and the maintenance of underwriting ... Read the full article
kWh Analytics appoints Isaac McLean CUO
4th December 2023
kWh Analytics, a provider of climate insurance for renewable energy assets, has announced the appointment of Isaac McLean as Chief Underwriting Officer. McLean will lead kWh Analytics’ growing underwriting team as the company grows its Property Insurance offering for renewable energy assets. Launched in January with capacity partner Aspen Insurance, kWh Analytics’ ... Read the full article
AXIS Capital appoints Stan Galanski to Board of Directors
4th December 2023
AXIS Capital Holdings Limited has announced the appointment of Stan Galanski to the company's Board of Directors. Effective January 1, 2024, Galanski will join the Board and serve on its Risk Committee. Henry Smith, Chair of the Board of Directors at AXIS, expressed enthusiasm about the addition, stating, "Stan is an outstanding ... Read the full article
AM Best stays Negative on U.S. personal lines insurance segment
4th December 2023
AM Best has announced it is maintaining its Negative outlook on the U.S. personal lines insurance segment for 2024, due to the continued deterioration in results for the personal auto and homeowners’ lines of business and rising loss costs. The rating agency observed the challenges that personal lines writers have ... Read the full article
Re/insurance industry players back new initiative launched at COP28
4th December 2023
A host of re/insurance solutions providers have expressed their support of the ‘Joint Declaration Regarding Credit Enhancement of Sustainability-linked Sovereign Financing for Nature and Climate’ launched at COP28. During the annual climate change conference in the UAE, an array of the world's top multilateral development banks and other international organisations signed ... Read the full article
Chris Condello to lead WTW’s new Asian Risk Division, within CRB North America
4th December 2023
WTW has announced the appointment of Chris Condello as Head of the newly created Asian Risk Division, within Corporate Risk and Broking (CRB), North America. The Asia Risk Division will consist of Japanese, South Korean, and newly created Indian and Chinese divisions. These groups were created to focus on the cultural and ... Read the full article
Augment Risk appoints McGill’s Andrew Matson as CEO
4th December 2023
Reinsurance brokerage firm Augment Risk, has announced the appointment of Andrew Matson as Chief Executive Officer (CEO), who will focus on building on the firm’s significant traction, having already bound $1 billion of premium in its first year of business. “Augment Risk was founded to address a fundamental structural problem in ... Read the full article
Slide expands to cover Florida condo risks, prepares new agent portal launch
4th December 2023
Slide Insurance, the full-stack homeowners insurtech focused on writing business in Florida currently, is expanding further into the market with the launch of an admitted H06 condominium insurance policy, Reinsurance News has learned. Slide is opening the availability of coverage for HO6 new business from December 12th, we're told, as it ... Read the full article
Hillary Clinton calls for insurance reform at COP28
4th December 2023
As per a new report from Reuters, former U.S. Secretary of State Hillary Clinton has called for a reform of the insurance sector at COP28, citing the unavailability of coverage amid a new wave of climate shocks. Speaking during a panel on women and climate resiliency, Clinton observed that "we need ... Read the full article
Core Specialty completes acquisition to form Medical Stop-Loss Division
4th December 2023
Core Specialty Insurance Holdings, Inc. and its subsidiaries has completed its acquisition of the MGU/Stop-Loss business of American National Group (ANAT). The acquisition was previously announced in June earlier this year. As a result, this acquisition marks Core Specialty’s 14th Specialty Business Unit. It has also been confirmed that Jim Stelling has ... Read the full article
Eurazeo invests $36mn in Igloo’s Pre-Series C funding round
4th December 2023
Singapore-based insurtech Igloo has successfully raised US$36 million in a Pre-Series C funding round led by Eurazeo, through its insurtech fund backed by the insurer BNP Paribas Cardif, and with participation from Openspace’s OSV+, and returning investor La Maison. The latter two also participated in Igloo's Series B and Series B+ ... Read the full article
PERILS estimates initial loss of €509m for Babet-Aline floods and storms
4th December 2023
Zurich-based catastrophe insurance data provider PERILS has disclosed an initial industry loss estimate of €509 million for the Babet-Aline floods and storms over the British Isles and northwestern Europe in October 2023. In line with the PERILS coverage definition for Europe, this loss number covers the property line of business. The ... Read the full article
Fidelis Insurance welcomes Miranda Hunter as Head of Investor Relations
4th December 2023
Bermuda-domiciled re/insurer Fidelis Insurance Holdings Limited has announced the appointment of Miranda Hunter as Head of Investor Relations. Hunter brings to her new role over 15 years of re/insurance and financial industry experience, having held senior roles at various global firms. “Fidelis is confident that Ms. Hunter's extensive experience and strategic acumen ... Read the full article
Beat Capital Partners launches RedRiff in collaboration with Peter Wilkins as CEO
4th December 2023
Beat Capital Partners, a prominent long-duration investor specialising in the insurance industry, has unveiled its latest venture, RedRiff Agency Limited. RedRiff will function as a dedicated Accident & Health (A&H) underwriter, offering comprehensive coverage across a spectrum of specialised A&H insurance and reinsurance. The operations of RedRiff will be conducted through a ... Read the full article
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