Reinsurance News
Greenlight Re posts improved underwriting performance with FY23 CoR of 94.5%
6th March 2024
Greenlight Capital Re, Ltd. has reported a Q4 2023 combined ratio of 91.4% compared to 94.2% in the prior year quarter, as the current-year loss ratio improved by 3.8% to 54.7% driven by improved pricing on the in-force underwriting book. The reinsurer's net underwriting income hit $11.8 million in Q4 2023 ... Read the full article
Lancashire’s 2023 profit soars to $321.5m as GPW hit $1.9bn
6th March 2024
Lancashire Holdings has revealed its overall profit after tax for 2023 was $321.5 million, resulting in a change in diluted book value per share of 24.7% and marking a massive improvement compared to 2022's loss of $15.5 million. The firm's 2023 gross premiums written (GPW) also increased 16.9% year-on-year to $1.9 ... Read the full article
Aon appoints Darren Oliver Head of Philippines, Thailand and Vietnam
6th March 2024
Insurance and reinsurance broker Aon has announced the appointment of Darren T. Oliver as Head of Philippines, Thailand and Vietnam, with immediate effect. In his new role, based in Manila, Philippines, Oliver will be responsible for leading the new sub-region to better reflect the clients and industries the broker serves. He will ... Read the full article
SCOR sees P&C combined ratio improvement as FY23 income hits record €812m
6th March 2024
French reinsurer SCOR has reported net income of €162 million for the fourth quarter and a record €812 million for the full year 2023, as the P&C combined ratio strengthened in both periods on the back of lower catastrophe losses. Net income for the quarter and the full year compares with ... Read the full article
NMI Holdings names Aurora Swithenbank as EVP and CFO
6th March 2024
U.S.-based mortgage insurance specialist NMI Holdings has appointed Aurora Swithenbank as Executive Vice President (EVP) and Chief Financial Officer (CFO), effective May 1, 2024. Swithenbank will succeed Ravi Mallela, who has held the role since 2022 and will remain with the company to ensure a seamless transition. Adam Pollitzer, National MI’s President ... Read the full article
Sapiens to expand presence in Canada to accelerate growth for insurers
6th March 2024
Sapiens International Corporation, has announced its strategic expansion in the Canadian market, bolstering its workforce and expertise to foster continued growth and innovation for regional customers. Sapiens has been successfully serving leading Canadian insurers for more than 15 years, providing SaaS solutions and services across life, property and casualty, and workers' ... Read the full article
Coface launches 2024-2027 strategic plan to accelerate transformation
6th March 2024
Credit insurer Coface has announced the launch of its 2024-2027 strategic plan, Power the Core, with a view to develop a global ecosystem of reference for credit risk management. With the new plan, Coface looks to build upon the successes of the previous strategic plans, like Fit to Win and Build ... Read the full article
Charles Taylor strengthens APAC aviation team with two leadership appointments
6th March 2024
Charles Taylor, an international loss adjusting firm, recently announced the appointments of Bob Battoo as Managing Director, Asia Pacific (APAC) – Aviation, and Dennis San Jose as Resident Technical Manager – Aviation Asset Management. This strategic decision significantly boosts the expertise within Charles Taylor’s aviation division, enhancing its ability to ... Read the full article
ICEYE enhances SAR imaging tech with launch of three new satellites
5th March 2024
ICEYE, a provider of natural catastrophe solutions and insights, successfully launched three additional synthetic aperture radar (SAR) satellites on March 4th, 2024. These SARs include a 1200 MHz radar bandwidth in-orbit technology demonstrator that has upgraded ICEYE’s X-band antenna, increasing radar bandwidth to 1200 MHz and enabling 25 cm imaging. The ... Read the full article
AXIS hires SCOR’s Simon Dejung as CUO, Global Cyber & Technology
5th March 2024
AXIS Capital Holdings Limited, the global specialty underwriter and provider of re/insurance solutions, has hired Simon Dejung as Chief Underwriting Officer, Global Cyber & Technology (GCT), effective immediately. In the role, he will be based in Zurich, Switzerland, reporting to Lori Bailey, Head of Global Cyber & Technology As CUO, GCT, Dejung ... Read the full article
Kay International AMEA Limited establishes wholly owned subsidiary in Singapore
5th March 2024
Kay International AMEA Limited, an independent underwriting managing agency and reinsurance brokerage, has established a wholly owned subsidiary in Singapore, with the aim of expanding its facultative and treaty reinsurance broking and placement services to South East Asia. The company received its final approval from the Monetary Authority of ... Read the full article
WTW strengthens CRB NA team with three new hires
5th March 2024
Global re/insurance broker, WTW, has announced the addition of three strategic hires, within the Private Equity and Transactional Solutions team, which include Daniel Kesack as Director of Contingent Solutions, Shirley Chin as Head of Tax Insurance, and Steven Kolos as Director of Transactional Solutions. Kesack brings to his new role ten ... Read the full article
MGA Mustard partners with Sovereign Insurance Australia for enhanced market solutions
5th March 2024
Mustard Underwriting Pty Ltd (Mustard), a specialist MGA, recently announced its new partnership with Sovereign Insurance Australia (SIA). Through this partnership, Mustard has gained financial backing and underwriting support. This means Mustard can now offer agents various personalised insurance products for individuals within the Australian and New Zealand markets. Damian Chadwick, CEO ... Read the full article
Reinsurance demand to remain strong but prices to peak in 2024, says Moody’s
5th March 2024
Analysts at Moody's Investors Service expect demand for reinsurance protection to remain strong in 2024 but warns that while reinsurers have scope to push through further price increases, as competition intensifies in the sector, prices will likely peak this year. Moody's is the latest to predict a peak in reinsurance pricing ... Read the full article
Under-representation of women in senior insurance roles in the UK, says Morningstar DBRS
5th March 2024
Morningstar DBRS recently published a commentary highlighting the under-representation of women in management positions within the UK insurance sector, despite companies implementing several initiatives to counteract this trend. According to data from The Women in Finance Charter (WIFC) and Morningstar DBRS, there has been a positive trend in female representation in ... Read the full article
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