Reinsurance News
ARC welcomes insurance specialists Kasinga and Amarquaye to its Board
13th March 2024
African Risk Capacity (ARC) Limited has announced the appointment of two new non-executive directors to its Board, Susan Kasinga and Helen Amarquaye, who bring specialised technical experience in finance and insurance with them. With over three decades of experience in the financial industry, Kasinga has expertise in raising capital through debt ... Read the full article
Global Indemnity Group sees big net income improvement in FY23
13th March 2024
Global Indemnity Group, LLC (GBLI) has posted its results for the full-year 2023, which includes a substantial performance in net income, as it reached $25.0 million compared to a net loss of $1.3 million for the corresponding period in 2022. At the same time, adjusted operating income per share was $1.96 ... Read the full article
Direct Line rejects improved possible offer by Ageas
13th March 2024
Ageas has submitted an improved possible offer to the Board of Directors of Direct Line to acquire the entire issued and to be issued share capital of the insurer, but the company's Board has again rejected the offer and expressed confidence in its standalone prospects. Brussels headquartered insurer Ageas confirmed ... Read the full article
Fire safety reinsurance facility established by McGill and Partners finalised
13th March 2024
A new initiative has been set up which aims to help improve the availability of insurance for higher-risk buildings awaiting work to fix fire safety issues. The Fire Safety Reinsurance Facility will help to increase insurance market competition to cover properties affected by combustible cladding and other fire safety issues. From what ... Read the full article
AEGIS London sees £206mn profit in 2023 with improved combined ratio
13th March 2024
AEGIS London, Lloyd’s Syndicate 1225, a subsidiary of AEGIS, has released its 2023 financial results, reporting an improved combined ratio of 79.4% and a 112% profit increase. For the year ending 31 December 2023, the Syndicate’s combined ratio improved 4.4% on 2022’s ratio of 83.8%. As part of its 2023 full year ... Read the full article
Compre promotes Zameer Mitha to group commercial director
13th March 2024
Bermuda-domiciled international legacy firm Compre has promoted Zameer (Zam) Mitha to the newly created role of group commercial director within its business development function. Mitha has more than 20 years of experience in various leadership roles across actuarial, strategy and underwriting, spanning the UK, Europe and North American markets. He joined Compre ... Read the full article
Re/insurance sector to benefit from ICEYE’s sharpened imaging mode
13th March 2024
ICEYE, a provider of natural catastrophe solutions and insights, has increased its capabilities with the introduction of its Dwell Fine imaging mode, which builds on the release of Spot Fine, launched last year. Dwell Fine is unique in commercial SAR satellite imagery; using its 50-centimetre resolution it helps to deepen the ... Read the full article
Alistair Brannan appointed EY’s UK Head of Life and Pensions
13th March 2024
EY has appointed Alistair Brannan as its UK Head of Life and Pensions. In addition to his new role, he will also join the organisation's UK insurance leadership team and remains Client and Markets Leader for EY’s financial services business in Scotland. Based in Edinburgh, Brannan has over 19 years of ... Read the full article
Nord Stream sues UK insurers over gas pipeline explosions
13th March 2024
Nord Stream is reportedly in pursuit of more than €400 million from UK insurance companies, including Lloyd's of London, for refusing to cover the 2022 explosions that ruptured pipelines designed to transport Russian gas to Germany. The Switzerland-based firm has named Lloyd's Insurance Company and Arch Insurance as defendants in its ... Read the full article
Arch Reinsurance Group announces senior promotions naming Halgan President & CUO
13th March 2024
Arch Reinsurance Group has announced the promotion of three senior executives, Jerome Halgan, Vanessa Hardy Pickering and Lester Pun, all effective April 1, 2024. Halgan, who has been with the company since 2009, will be taking over the role of President and Chief Underwriting Officer of Arch Reinsurance Group, in addition ... Read the full article
DeNexus appoints industry veteran Rosa Kariger to its Board of Directors
13th March 2024
DeNexus, a provider of cyber risk modelling solutions, has recently appointed industry veteran Rosa Kariger to its Board of Directors, strengthening the company's commitment to bridging the gap between enterprises managing risk and insurers providing coverage. Kariger will facilitate DeNexus' long-term growth strategy focused on establishing the global standard for quantifying ... Read the full article
Marsh Specialty forecasts economic divergence amidst geopolitical uncertainty
13th March 2024
Marsh Specialty's 2024 Political Risk Report has highlighted how long-term uncertainty is stemming from macroeconomic competition and geopolitical insecurity, which is set to create even greater economic divergence between sectors and economies this year. According to the report, a record number of voters heading to the polls this year are likely ... Read the full article
David Wynn joins DWF as Head of Casualty
13th March 2024
DWF, a provider of integrated legal and business services, is expanding its global insurance practice with the appointment of disease and casualty expert David Wynn as a new Partner. Taking over the role of Head of Casualty, Wynn will be based at DWF's Manchester office, he will also be serving as ... Read the full article
HDI Global Specialty hires Ritchie as Head of Single Risk, Australia & NZ
13th March 2024
HDI Global Specialty SE - Australia (HDI) has hired Paula Ritchie as Head of Single Risk - Australia and New Zealand, effective March 11, 2024. She joins the organisation with over 25 years of industry experience. She joins HDI following a previous stint at Arch Insurance Australia, where she served as Underwriting ... Read the full article
Brit launches new $50m Lloyd’s Consortium
13th March 2024
Brit Ltd has launched Brit Cyber First50, a new $50m Primary Brit-led and managed Lloyd’s Consortium developed to improve the efficiency of cyber placement for large institutional clients with revenues of $10 billion or more. According to the firm, as cyber losses increase in both frequency and size, this initiative will ... Read the full article
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