Reinsurance News
Swiss Re’s Daisy Ning addresses widening health insurance protection gap in APAC
10th November 2023
In a recent interview with Reinsurance News, Daisy Ning, Head of Life and Health, APAC (excluding China) at Swiss Re, shared her insights on the growing health insurance protection gap in the region. Ning began by emphasising Swiss Re's pioneering role in addressing the protection gap, stating, "Actually, we are the ... Read the full article
BoE conducts System-wide Exploratory Scenario to assess financial stability
10th November 2023
The Bank of England (Bank) has initiated the scenario phase of the System-wide Exploratory Scenario (SWES), a comprehensive assessment aimed at understanding the dynamics of banks and non-bank financial institutions in stressed market conditions. Launched in June 2023, the SWES involves more than 50 financial market participants, including major banks, insurers, ... Read the full article
Maiden Holdings sees $3.5 million net loss in Q3’23
10th November 2023
Bermuda-based Maiden Holdings has reported a net loss of $3.5 million for the third quarter of 2023, compared with net loss of $8.2 million in Q3'22. It posted lower underwriting loss of $10.9 million in the third quarter of 2023, compared to an underwriting loss of $12.6 million in the same ... Read the full article
Peak Re’s survey reveals Asia middle-class prioritise financial planning & mental health
10th November 2023
Hong Kong-based global reinsurer, Peak Re, in collaboration with Intuit Research, has released the key findings of its flagship 2023 Asia Middle-Class Consumer Survey. This year’s study zeroes in on consumers’ attitudes and needs concerning health, mental well-being, and cybersecurity. When faced with a serious illness, consumers prioritise financial planning (18%), access ... Read the full article
Aspen Insurance promotes Edward Hart to International Head of Cyber
10th November 2023
Aspen Insurance, a provider of specialty re/insurance products, has announced the appointment of Edward Hart to the role of International Head of Cyber. Hart brings to his new role 10 years of cyber underwriting experience. Based in London, he will be responsible for advancing the International Cyber team, its underwriting strategy ... Read the full article
WTW’s 2023 Power Market Review highlights challenges in global power sector
10th November 2023
In its latest Power Market Review, WTW has brought to the forefront the persistent "Trilemma of Tension" facing the global power sector. This "Trilemma" is characterised by the ongoing struggle to balance energy security, affordability, and sustainability, which has led to continued volatility in the industry. The global power sector is currently ... Read the full article
Lockton names Andrea Lieberman U.S. Financial Services Claims Leader
10th November 2023
Independent insurance broker Lockton has announced the appointment of Andrea Lieberman as U.S. Financial Services Claims Leader. In her new role, Lieberman will lead the Financial Services claims team and drive the practice's strategic vision to deliver the best possible claims experience and results for clients. She brings over three decades of ... Read the full article
Conifer Holdings posts 16.5% increase in GWP in Q3
10th November 2023
Conifer Holdings has reported its gross written premiums for the third quarter of 2023 increased 16.5% to $38.5 million, compared to $33.1 million in the prior year period. The company said that this top line growth derived primarily from continued expansion within select key verticals that have demonstrated strong performance. Conifer Holdings' ... Read the full article
Bailenson to become COO of Assured Guaranty, Rosenblum to succeed him as CFO
10th November 2023
Assured Guaranty Ltd. has announced that, as of January 1, 2024, Chief Financial Officer Robert A. Bailenson will become Chief Operating Officer, while Chief Actuary Benjamin G. Rosenblum will succeed him as Chief Financial Officer. In his new role as COO, Bailenson will hold responsibility for various strategic initiatives as Assured ... Read the full article
Aon expands Climate Risk Advisory function across Risk Capital
10th November 2023
Aon has expanded its Climate Risk Advisory function across the firm’s Risk Capital capability, to "further serve clients’ advanced risk analytics needs in both Commercial Risk Solutions and Reinsurance Solutions." The expanded service will continue to be led by Liz Henderson, global head of Climate Risk Advisory for Risk Capital. Henderson has ... Read the full article
Allianz Q3 operating profit down 14.6% driven by impact of nat cats
10th November 2023
Allianz has reported that its operating profit dropped 14.6% to €3.5 billion in Q3, driven by the Property-Casualty business segment affected by a 7.3 percentage point impact by natural catastrophes on the combined ratio, the highest in a decade. The firm's net income in Q3 was €2.1 billion, down by 29.3%, ... Read the full article
SCOR posts 90.2% P&C combined ratio as nat cat losses exceed budget in Q3
10th November 2023
French reinsurer SCOR has reported Group net income of €147 million for the third quarter of 2023 and an improved P&C combined ratio of 90.2%, despite natural catastrophe losses coming in above budget and large man-made claims. In its results, SCOR states that while the attritional loss ratio is satisfactory for ... Read the full article
Tint announces strategic partnership with RVI Group
10th November 2023
Tint, the embedded protection platform, has announced its partnership with RVI Group, a subsidiary of Group 1001, designed to revolutionise embedded protection programs. Unveiled at InsurTech Connect in Las Vegas, this collaboration is said to signify a significant step forward in the emerging field of embedded protection. Tint's innovative approach allows companies ... Read the full article
Global M&A insurance claims rise on elevated dealmaking activity: Liberty GTS
10th November 2023
The rise in global M&A insurance claims is being driven by exceptional levels of dealmaking activity in 2021 and 2022, according to a recent report by Liberty Global Transaction Solutions (GTS), part of Liberty Mutual Insurance. The report is based on the company’s analysis of Liberty GTS’s own M&A insurance claims ... Read the full article
Great-West Lifeco sees base earnings increase to $950m in Q3
10th November 2023
Great-West Lifeco Inc. reported a solid increase in its base earnings in the third quarter of 2023, as they rose from $809 million to $950 million. The firm attributed the sharp increase primarily to business growth, as well as higher average equity markets and interest rates. At the same time, Great-West Lifeco ... Read the full article
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