Reinsurance News
Blink Parametric and Buckler México partner for rollout of cyber solution to Ethics Data Analytics
1st March 2024
Insurtech Blink Parametric has partnered with cyber risk specialist Buckler México to support the rollout of its Blink Cyber solution to Ethics Data Analytics - a leader in risk management solutions in the region - to combat identity theft. Now available within the Ethics Cyber Security portfolio, Blink’s cyber solution is ... Read the full article
W. Marston Becker to succeed Henry Smith as AXIS non-exec Chair
29th February 2024
Global specialty underwriter and provider of re/insurance solutions, AXIS Capital has announced the appointment of W. Marston (Marty) Becker as non-executive Chair of its Board of Directors. Becker will take over the position in May 2024, timed to the company’s Annual General Meeting, succeeding Henry B. Smith, who has served as ... Read the full article
RT Specialty adds Cyber Liability to proprietary digital platform, RT Connector
29th February 2024
RT Specialty, the wholesale distribution division of Ryan Specialty, has announced that it has added Cyber Liability to its proprietary digital platform, RT Connector. The digital platform allows retail insurance agents to efficiently access multiple lines of coverage from a variety of carriers for their excess and surplus (E&S) small commercial ... Read the full article
Tiptree’s Fortegra posts 37.5% rise in GWP in Q4’23
29th February 2024
Holding company Tiptree has reported a 37.5% increase in gross written premiums and premium equivalents for its specialty insurance subsidiary, Fortegra, in the fourth quarter of 2023. The gross written premiums and premium equivalents grew in Q4'23 and 21.4% for the year, driven by growth in specialty E&S and admitted insurance ... Read the full article
Allianz Partners appoints Jacob Fuest as new CMO
29th February 2024
Allianz Partners, a global insurance and assistance company, has announced the appointment of Jacob Fuest to the position of Chief Markets Officer (CMO) and Member of the Board of Management. In his new role, Fuest will focus on helping Allianz Partners' business units worldwide grow more effectively. Fuest has been part of ... Read the full article
PPL looks to accelerate API adoption with new programme
29th February 2024
Placing Platform Limited (PPL), an electronic trading platform for the London re/insurance market, has launched a broker Early Adoption Programme (EAP), which has a focus on the operationalisation of the platform's API capabilities and reflects the acceleration of market interest in APIs. Currently, PPL is working with eight firms to collaborate on ... Read the full article
European reinsurers’ 1/1 renewals outcome suggests underwriting margins close to peaking: Fitch
29th February 2024
Analysis by Fitch Ratings on the outcome of the key January 1st, 2024, renewals for European reinsurers claims that underwriting margins are close to peaking as supply and demand exhibits greater equilibrium. Earlier this year, Fitch warned that reinsurers’ underwriting margins are likely to peak in 2024, as the rating ... Read the full article
Excessive litigation worsens auto insurance costs, says Triple-I
29th February 2024
The Insurance Information Institute (Triple-I) recently released a report highlighting how excessive litigation exacerbates the long-standing issue of rising auto insurance costs. The report outlines how dangerous driving conditions and economic factors have steadily driven up insurance expenses over the years. However, the situation is worsened by aggressive attorneys who escalate ... Read the full article
Amwins to acquire Connected Risk Solutions from BRP Group
29th February 2024
Amwins, an independent wholesale distributor of specialty insurance products, has announced its definitive agreement to acquire Connected Risk Solutions, LLC, the wholesale E&S insurance brokerage operated by BRP Group, Inc. (BRP). Jeff McNatt, President of Amwins Brokerage, expressed enthusiasm about the collaboration, emphasising the shared expertise and growth opportunities. He stated, "We ... Read the full article
Johan Slabbert to step down as CEO of MSIG Holdings U.S.A
29th February 2024
Johan Slabbert, the Chief Executive Officer of MSIG Holdings (U.S.A.), Inc., is set to depart from his role to pursue new opportunities. Effective immediately, Takehisa Chiba, the Chairman of MSIG Holdings (U.S.A.), Inc., will step into the role of Chairman and Interim Chief Executive Officer to facilitate a seamless transition. Chiba will ... Read the full article
James River sees $152.7mn net loss in Q4 2023
29th February 2024
James River Group Holdings Ltd. has released its financial results for the fourth quarter of 2023 reporting a net loss of $152.7mn, marked by a net loss stemming from the reclassification of its Casualty Reinsurance segment's results to discontinued operations. The Bermuda domiciled insurance holding company, highlighted that due to the ... Read the full article
Diversification within cyber ILS is possible, says CyberCube
29th February 2024
CyberCube’s analysis of all the 144A cyber catastrophe bonds issued to date shows that diversification within cyber as an asset class is possible. In a recent white paper titled "Digital Ties and Natural Divides: Correlation and Diversification in Cyber Catastrophe Bonds" - the firm addresses the concern amongst investors regarding the ... Read the full article
Lockton makes key hires to expand Lawyers Professional Liability Practice
29th February 2024
Insurance broker Lockton has announced that Eric Braverman and Eric Bill are joining the firm to build out its Lawyers Professional Liability Practice. Braverman is reportedly joining as Senior Vice President, Professional Services Practice Leader, while Bill is joining as Senior Account Executive. As per Lockton, Braverman will report to Chris Casper, ... Read the full article
BRP Group’s total revenues climb 16% in Q4 to reach $284m
29th February 2024
BRP Group, the independent insurance distribution firm, has announced that total revenues increased 16% year-over-year to reach $284.6 million in their results for the fourth quarter of 2023. At the same time, the company reported organic growth of 15%, as well as a fourth quarter loss of $62.5 million, compared with a ... Read the full article
Howden acquires Intersure Group to expand presence in Irish market
29th February 2024
Howden has announced the acquisition of Intersure Group Limited, which is set to further strengthen its ability to service the Irish insurance market. Established in 1999 by Noeleen Butterly, Intersure is an owner-managed business based in Drogheda, Co. Louth. The firm reportedly provides clients with technical insurance advice across commercial, business, ... Read the full article
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