Reinsurance News
HSB strengthens development team in the UK with trio of appointments
13th November 2023
HSB (UK and Ireland) has announced the strengthening of its UK Business Development team with the appointments of Sarah Purnell, Michael Farrugia and Lydia White. Sarah Purnell, who previously worked for the British Engineering Services, Zurich and Axa, has been appointed Business Development Manager for the East and West Midlands. Meanwhile, based ... Read the full article
Coalition expands Northern UK presence with key underwriting hire
13th November 2023
Coalition has announced that it has appointed Gareth Machin as its first Manchester-based underwriter in the UK. Machin's appointment comes as part of the company's ongoing drive to provide regional support for brokers in addition to its London headquarters. Machin, a former senior professional indemnity (PI) underwriter with Allianz, has joined Coalition ... Read the full article
EU Associations push for equitable access to vehicle data in automotive industry
13th November 2023
The European automotive and mobility industry faces a critical turning point, prompting Insurance Europe and several EU-level associations to call for regulatory action in ensuring equitable access to vehicle data, functions, and resources. In a letter sent November 6 to the European Commission, these groups urged the swift implementation of complementary ... Read the full article
C3 Risk & Insurance Services names Marife Molina as EVP, Strategic Revenue
13th November 2023
San Diego-domiciled, specialty insurance broker, C3 Risk & Insurance Services, has appointed Marife Molina as its new Executive Vice President (EVP) of Strategic Revenue, where she will oversee the development and execution of revenue-generating strategies. Molina will also focus on identifying new market opportunities, establishing key partnerships, and optimizing existing revenue ... Read the full article
Kowell to lead Marsh Marine, Cargo and Logistics Practice, US & Canada
10th November 2023
Insurance broker Marsh has announced the appointment of Janice Kowell as Marine, Cargo and Logistics Practice Leader, US and Canada, effective immediately. Based in Portland, Oregon, she will be responsible for delivering transactional and advisory services to Marsh’s maritime, cargo and logistics clients across the US and Canada. Kowell brings over four ... Read the full article
P&C industry net combined ratio forecast at 103.8% for 2023: Triple-I and Milliman
10th November 2023
The 2023 net combined ratio for the property/casualty industry is forecasted to be 103.8%, driven in part by severe convective storm losses being the highest in decades, according to a report by Triple-I and Milliman. While the sector's combined ratio is expected to be end the year in unprofitable territory, hard markets ... Read the full article
Inari names Jonathan Pflieger its new SVP of Insurance Products
10th November 2023
Inari, a core technology infrastructure provider for the re/insurance industry, has appointed Jonathan Pflieger as its new SVP of Insurance Products. According to Inari, Pflieger holds over two decades of experience in both insurance underwriting and portfolio management roles. He joins from Tokio Marine, where he was most recently Underwriting Manager ... Read the full article
Hamilton raises $93.75m in net proceeds as IPO prices below target
10th November 2023
Bermuda insurer and reinsurer, Hamilton Insurance Group, has successfully priced its initial public offering (IPO) of 15,000,000 Class B common shares at a public offering price of $15.00 per share, raising a total of USD 225 million. Net proceeds received were USD 93.75 million from its IPO of its Class B ... Read the full article
James River to explore strategic alternatives
10th November 2023
After reaching an agreement to sell its third-party casualty reinsurance business to Fleming earlier this week, the Board of James River Group Holdings, Ltd. has decided to "explore a range of potential strategic alternatives", including a potential sale or merger. On Wednesday, James River announced its exit from the reinsurance space ... Read the full article
FG Financial Group posts $5.2m net income in Q3 results
10th November 2023
FG Financial Group, a reinsurance and asset management holding company, has reported a net income of $5.2 million for the third quarter of 2023, compared to $9.8 million from the third quarter of 2022. The company also posted net reinsurance premiums earned of $4.2 million for Q323, compared to $4.4 million ... Read the full article
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
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