Reinsurance News
The American Club reports stable renewal results amid challenges
19th March 2024
The American Club (the Club), a US-domiciled mutual protection and indemnity club, has reported slight decreases in its year-on-year renewal results, indicating overall stability despite recent challenges. For the Club's Class I entries, it's reported that gross tonnage has decreased by approximately $2.5 million compared to last year, now standing at ... Read the full article
Gallagher Re names Flasinski CEO of NA region, Bradshaw assumes Chairman role
18th March 2024
Reinsurance broker Gallagher Re has appointed Brian Flasinski as Chief Executive Officer of the North American region, succeeding Jim Bradshaw who is set to assume the role of Chairman, Gallagher Re North America. According to the firm, both appointments will become effective after a transition period later this year. Flasinski joined Gallagher ... Read the full article
Cowen to lead Chubb’s newly launched global transactional risk platform
18th March 2024
Global insurer Chubb has announced the launch of International Transactional Risk, a global platform that aims to provide transactional risk liability insurance products across international markets. Josh Cowen, a seasoned mergers and acquisition (M&A) risk insurance professional, will be heading this initiative as Senior Vice President, International Transactional Risk. Based in London, ... Read the full article
Markel announces new role for David Roos
18th March 2024
Markel, the insurance operations within the Markel Group Inc., has announced the promotion of David Roos to Senior Director, Property and Marine for Markel Specialty's Wholesale Southeast region. Roos will report to Steve Girard, Regional President, Southeast region, and will be based out of Markel's Alpharetta, Georgia office. In this new role, ... Read the full article
Hannover Re entering 2024 with stronger balance sheet as it targets net income of at least €2.1bn
18th March 2024
Speaking during Hannover Re's earnings call for the 2023 financial year earlier today, Jean-Jacques Henchoz, the company's chief executive officer (CEO), confirmed that the company is aiming to deliver a group net income of at least €2.1 billion in 2024. He did note however, that this net income expectation is under ... Read the full article
Howden collabs with Cyberwrite to increase cyber resiliency for clients worldwide
18th March 2024
Howden has partnered with cyber insurance technology firm Cyberwrite to increase cyber resiliency for its clients across 50 countries. Founded in 2017, Cyberwrite specialises in providing cyber risk reports, offering brokers the tools to assess the probability of a breach and gauge its potential economic repercussions, as well as tailored recommendations ... Read the full article
Lockton and Campden BRI to help food and drink industry mitigate current and emerging risks
18th March 2024
Independent insurance broker Lockton has announced a global collaboration initiative with food science company Campden BRI to provide the food and drink industry with key risk mitigation support and build resilience in an evolving risk landscape. A number of threats have been affecting the food and drink industry in recent years, ... Read the full article
Miller continues to bolster Fine Art & Specie team with Thorpe appointment
18th March 2024
Independent specialist re/insurance broker, Miller, has expanded its newly created Fine Art and Specie offering by building out a team of sector specialists under the leadership of Annabel Fell-Clark, Head of Fine Art and Specie. The company has confirmed that Lance Thorpe has joined the division, taking on the role of ... Read the full article
MAPFRE seeking average 6% revenue growth, 95-96% CR over next three years
18th March 2024
MAPFRE has revealed that it is targeting average revenue growth of 6% over the next three years, with an aim of exceeding €32 billion in premiums by the end of the three-year period. At the same time, the company is also seeking an 11% return on equity for 2026, as well ... Read the full article
WTW gets USAID funding to develop climate-resilient insurance solution
18th March 2024
Global advisory, broking, and solutions firm WTW has revealed it will receive funding from the U.S. Agency for International Development (USAID) to develop a climate-resilient insurance solution that aims to unlock climate adaptation investment from the private sector. Utilising this new USAID funding, WTW said it will design a pilot facility ... Read the full article
Marsh McLennan Agency expects stable commercial property reinsurance market in 2024
18th March 2024
Marsh McLennan Agency (MMA), part of the global insurance and reinsurance broker, has released its 2024 Commercial Property Insurance Trends report, highlighting a more balanced reinsurance market this year compared to the harsh conditions of 2023. According to MMA, "In 2023, the industry witnessed the toughest property reinsurance market in decades." This ... Read the full article
Gallagher Re appoints Head of Asia Pacific Cyber
18th March 2024
Reinsurance broker Gallagher Re has announced the appointment of Sie Liang Lau as Head of Asia Pacific Cyber, a Singapore-based role. Lau is a UK qualified Actuary with over two decades of experience in the re/insurance industry. He joined Gallagher Re in May 2023 as Head of Analytics, Rest of Asia. Previously, ... Read the full article
FWD Group becomes majority stakeholder of FWD Takaful Berhad
18th March 2024
FWD Group Holdings Limited, an Asian insurance company, has completed an additional investment for a further 21% stake in FWD Takaful Berhad, making it the majority shareholder with a 70% holding. The remaining 30% is held by the Employees Provident Fund, while JAB Capital Berhad is no longer a shareholder after ... Read the full article
Hannover Re adds Swiss Re’s Steinmann to Executive Board to succeed Pickel
18th March 2024
The Supervisory Boards of Hannover Rück SE and E+S Rückversicherung AG, the Hannover Re subsidiary responsible for the Group's German business, have appointed Thorsten Steinmann as a member of the Executive Board, effective 1st September 2024. Steinmann succeeds Michael Pickel who will retire on 31st December 2024 after 25 years at ... Read the full article
Brit names David Cary Deputy Head of Property Treaty, Bermuda
18th March 2024
Brit Ltd has appointed David Cary as Deputy Head of Property Treaty, Bermuda. Cary holds almost 20 years of experience in the reinsurance sector, having most recently served as Underwriting Manager and Head of Property & Casualty, Bermuda for QBE Re. Before this, he held senior roles at both Swiss Re and ... Read the full article
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