Reinsurance News
CFC unveils new management liability solution for Canadian SMEs
15th November 2023
CFC, a specialist insurance provider, has launched a new management liability solution designed specifically for Canadian small to mid sized businesses. According to the firm, its new solution includes a variety of new coverages, many of which are non-standard within the Canadian market. Brand new coverages provided under CFC’s solution includes executive ... Read the full article
Aegon to nominate Albert Benchimol as non-exec Board member
15th November 2023
Life insurer and asset manager Aegon, is planning to nominate Albert Benchimol to be appointed as a non-executive member of the Board of Directors, a proposal to be made to its 2024 Annual General Meeting. Once elected, Benchimol’s appointment would be effective as of the end of the meeting and for ... Read the full article
AM Best upgrades ZEP RE’s credit ratings
15th November 2023
Global ratings agency AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “bbb” (Good) and affirmed the Financial Strength Rating of B++ (Good) of ZEP-RE (PTA Reinsurance Company) (ZEP-RE) (Kenya). Best confirmed that the outlook of these ratings is stable. The agency said that the ratings ... Read the full article
Reinsurers in a “very good position” amid strong rate environment: RenRe’s O’Donnell
14th November 2023
Speaking on a panel at the PwC Insurance Summit in Bermuda in November, Kevin O’Donnell, President, and CEO of RenaissanceRe (RenRe), underlined that the industry is heading into a "strong" and "constructive" reinsurance rate environment ahead of the January renewals. During the panel, O’Donnell was asked how long inflation is going ... Read the full article
Alex Hardy named Director of Sales & Distribution for SiriusPoint’s international business
14th November 2023
Global specialty re/insurer, SiriusPoint Ltd., has appointed Alex Hardy as Director of Sales & Distribution for its International business. SiriusPoint confirmed that Hardy will join the firm on December 4, 2023. He will be based in London, and will report to Rob Gibbs, President & CEO, SiriusPoint International. Overall, Hardy brings over two ... Read the full article
AM Best assigns stable outlook on New Zealand’s non-life insurance segment
14th November 2023
Global credit ratings agency, AM Best, has assigned a stable outlook on the New Zealand non-life insurance segment, citing its expectations of solid premium growth in the market, which is heavily owed to strong, ongoing rate improvement, particularly in the property and motor segments. Best also highlighted other positive factors, such ... Read the full article
Howden Tiger and Swiss Re conclude strategic Loss Portfolio Transfer for KBIC
14th November 2023
Howden Tiger, the reinsurance broking arm of the global insurance group Howden, in collaboration with Swiss Re Group, a leading global reinsurer, has successfully completed a strategic Loss Portfolio Transfer (LPT) for Kookmin Best Insurance Company, LTD (US Branch) (KBIC). Howden Tiger served as the advisor on this transaction. In this ... Read the full article
Mark Newman becomes Canopius Group UK CEO
14th November 2023
Specialty re/insurer, Canopius Group, has announced the appointment of Mark Newman as Chief Executive Officer (CEO) for the UK, with interim UK CEO Kate Roy to step down from the position on December 31st, 2023, and retain her role as Group Chief Operating Officer (COO). Newman is to take up his ... Read the full article
Farmers Group to acquire three brokerages and flood program of Farmers Exchange
14th November 2023
Zurich, through its wholly-owned subsidiary, Farmers Group (FGI), has agreed to acquire three brokerages and the flood program servicing arm of the Farmers Exchanges, for $760 million. According to the announcement, “ownership of the brokerages will ensure FGI maintains and broadens its position in supporting the Exchanges in meeting customers’ needs ... Read the full article
Hans Døhlen to spearhead Pro MGA Global Solution’s European expansion
14th November 2023
Independent managing general agent, Pro MGA Global Solutions, has appointed Hans Martin Døhlen as Managing Director of the company’s European platform, Pro MGA Solutions Europe GmbH, and Director of Underwriting. In his new role, Hans will be responsible for the growth of Pro MGA’s business in Europe, which includes MGA incubator ... Read the full article
S&P revises SiriusPoint ratings outlook to ‘Stable’
14th November 2023
Global specialty re/insurer SiriusPoint, has had its ratings outlook revised from ‘Negative’ to ‘Stable’ by S&P Global Ratings (S&P). According to the announcement, this move reflects the credit rating agency’s” expectation that SiriusPoint will continue to post strong and improving underwriting results in 2023-2025, with combined ratios around 95% and capital ... Read the full article
American Coastal Insurance posts improved combined ratio of 68.7% for Q3’23
14th November 2023
American Coastal Insurance, formerly known as United Insurance Holdings, released its financial results for Q3 2023, reporting a combined ratio of 68.7% for Q3'23 as compared to a ratio of 139.3% for Q3'22. American Coastal Insurance, a property and casualty insurance holding company, reported a net income attributable to the Company ... Read the full article
G20 business leaders prioritise economic and societal risks: World Economic Forum
14th November 2023
In a recent survey conducted by the World Economic Forum, economic and societal threats have taken center stage as the primary concerns for business leaders in G20 countries over the next two years. The Executive Opinion Survey gathered insights from more than 11,000 business leaders across 110 countries between April and ... Read the full article
Lloyd’s coverholder Kita names James Brown Technical Underwriting Advisor
14th November 2023
Kita, a carbon insurance specialist and Lloyd’s of London coverholder, has announced the appointment of James Brown, former Head of Natural Resources at Chaucer, as its new Technical Underwriting Advisor. In his new role, Brown will act as lead consultant for JBAdvice Ltd, with his decades of technical underwriting experience he ... Read the full article
Skyward Specialty launches follow-on offering of its shares
14th November 2023
P&C insurer Skyward Specialty has announced a follow-on offering of 2.15 million shares of its common stock as it looks to target further growth opportunities. Based on Skyward's share price as of November 14, 2023, the insurer would raise around $66 million of capital. In addition to this follow-on offering, Westaim, Skyward ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
