Reinsurance News
CCR Re sees many opportunities to grow, says Deputy CEO Montador
15th September 2023
French reinsurer CCR Re is optimistic about the future following continued development and is confident of profitable growth, supported by its new ownership and capital injection, according to Deputy Chief Executive Officer (CEO), Laurent Montador. In an interview with Reinsurance News at the annual meeting of the reinsurance industry in Monte ... Read the full article
Brit’s profit rises in H1 as underwriting and investment performance improves
15th September 2023
Brit Ltd., a global specialty re/insurer and subsidiary of FairFax Financial Holdings Limited, has reported a strong underwriting and investment performance for the first half of 2023, as premiums rose to more than $2 billion. The company has today reported a combined ratio of 93.3% compared with 93.6% a year earlier, which ... Read the full article
CCRIF welcomes Honduras as its 4th member from Central America
15th September 2023
The Caribbean Catastrophe Risk Insurance Facility (CCRIF SPC) has continued to expand access to parametric insurance in Central America by welcoming Honduras as its fourth member from the region. According to CCRIF, the Honduran government has purchased parametric insurance coverage for excess rainfall, effective from 1 June 2023. CCRIF CEO Isaac Anthony, ... Read the full article
Blackstone integrates credit and insurance businesses to form BXCI
15th September 2023
Blackstone has announced the integration of its corporate credit, asset-based finance, and insurance groups into a single new unit, Blackstone Credit & Insurance (BXCI). According to the firm, Credit and Insurance is its fastest-growing segment, having more than doubled to $295 billion in assets under management over the last three years. Blackstone’s ... Read the full article
NFIP reinsurance looks set to pay out as Hurricane Ian claims exceed $4.3bn
15th September 2023
The National Flood Insurance Program (NFIP) has now paid out more than $4.3 billion in claim payments for 2022's Hurricane Ian, which should mean that its reinsurance pays out, Reinsurance News has learned. A FEMA spokesperson told us that the more than $4.3 billion figure is as of September 12th, 2023, ... Read the full article
Sompo Intl. appoints new leadership for UK commercial P&C insurance segment
15th September 2023
Global Property and Casualty re/insurer, Sompo International, has announced a new leadership team for its UK commercial P&C insurance unit, with Bob Thaker being named as Chief Executive Officer (CEO) of the segment. Thaker will be reporting to Julian James, CEO of Global Markets for Sompo International. Additionally, Thaker has been appointed ... Read the full article
Trade credit, bond, and political risk reinsurance market remains stable: Guy Carpenter
15th September 2023
In a recent market analysis, Guy Carpenter, a leading reinsurance brokerage firm, highlighted key trends in the trade credit, bond, and political risk reinsurance sector. Despite a backdrop of over-supply of reinsurance capacity, the market has maintained relative stability, with no significant price increases noted. One notable trend is the cautious approach ... Read the full article
Clear Group expands its reach with acquisition of Heath Crawford & Foster Holdings Limited
15th September 2023
In a strategic move aimed at further solidifying its presence in the insurance broking industry, the Clear Group has successfully acquired Heath Crawford & Foster Holdings Limited, along with its subsidiaries: Heath Crawford & Foster Ltd, ABA Insurance, and Merenda & Co Ltd. This latest acquisition aligns seamlessly with Clear Group's ... Read the full article
USAA appoints Tom Troy as Chief Transformation Officer
15th September 2023
USAA, a provider of insurance, banking, and investment and retirement solutions to members of the U.S. military, has appointed Tom Troy as its Chief Transformation Officer, effective September 25th 2023. In the newly created role, Troy will lead USAA's transformation initiatives and corporate development team. He will be reporting to Chief ... Read the full article
Lloyd’s & Moody’s to develop emissions accounting solution through Lloyd’s Lab
14th September 2023
Lloyd’s has announced a collaboration with Moody’s Analytics to develop a solution that will help quantify greenhouse gas emissions across managing agents’ underwriting and investment portfolios. According to Lloyd's, the solution will aid managing agents in meeting expected regulatory reporting requirements. Under current frameworks like Streamlined Energy and Carbon Reporting (SECR), ... Read the full article
Allianz names Henry Topham managing director of its UK Retail business
14th September 2023
Allianz Holdings has appointed Henry Topham as the new managing director of its UK Retail business. He succeeds Heather Smith, who will be leaving the business to take up a new opportunity. Topham has been with Allianz since December 2016 and is currently the managing director of Britannia Rescue and Flow. In his ... Read the full article
Delos Insurance Solutions secures $7.3 million in seed extension round
14th September 2023
In a significant move to address the pressing issue of homeowners' insurance availability in wildfire-prone areas, Delos Insurance Solutions has announced a successful $7.3 million seed extension funding round. The financing, led by IA Capital Group and joined by notable investors such as Blue Bear Capital, Gallatin Point Capital, Avanta Ventures, ... Read the full article
Tokio Marine partners with Clir to enhance renewable energy insurance for Brazil
14th September 2023
In a strategic move aimed at bolstering its renewable energy insurance services in Brazil, major international specialty insurer Tokio Marine has entered into a partnership with Clir Renewables (Clir), a global market intelligence platform specialising in wind and solar energy. The collaboration will leverage Clir's extensive data and AI-powered analytics to ... Read the full article
AXA XL names Anthony Dagostino as Global Chief Cyber Underwriting Officer
14th September 2023
AXA XL, a prominent global insurance and reinsurance firm, has announced the appointment of Anthony Dagostino as the Global Chief Cyber Underwriting Officer for Commercial Lines. Dagostino, a seasoned professional with over 20 years of experience in the cyber insurance industry, will be based in New York and will report directly ... Read the full article
Ogier advises IFRC on launch of its new risk transfer mechanism
14th September 2023
Ogier's Banking and Finance team in Guernsey has advised the International Federation of Red Cross and Red Crescent Societies (IFRC) on the launch of its new risk transfer mechanism, which will "transform the organisation's approach to disaster response." Ogier provides legal advice on BVI, Cayman, Guernsey, Irish, Jersey and Luxembourg ... Read the full article
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