Reinsurance News
Risk Strategies to consolidate its captives group under the RMA brand
15th September 2023
Specialty insurance brokerage and risk management firm, Risk Strategies is set to consolidate its independent captives group under the Risk Management Advisors (RMA) brand, in a move that merges Atlas Insurance Management into the RMA brand and operations. According to the announcement, the newly consolidated operations will be led by Managing Director Max ... Read the full article
Bradley T. Camden to serve as Interim CFO of Kemper
15th September 2023
US-based insurer Kemper Corporation has appointed Bradley T. Camden, its Senior Vice President and Treasurer, as Interim Chief Financial Officer (CFO) effective immediately. In the role, Camden will report to Joseph P. Lacher, Jr., Kemper’s President, CEO and Chairman. At the same time, he replaces James J. McKinney, who will serve as ... Read the full article
Ardonagh’s Atlanta to merge with Markerstudy to create major personal lines platform
15th September 2023
Ardonagh has agreed to a merger between its personal lines broking business Atlanta, and Markerstudy, to create a major new platform transacting over £3bn annual GWP across multiple insurance products in the UK insurance market. The transaction, subject to customary conditions, values Atlanta at £1.2bn and will be funded by a ... Read the full article
Origami Risk expands P&C insurance solutions with Dais acquisition
15th September 2023
Origami Risk, a risk, safety, and insurance Software as a Service (SaaS) technology firm, has acquired Dais Technology, a provider of no-code insurance technology. Terms of the transaction were not disclosed. This move will increase Dais’ market reach and client support capabilities and expands Origami’s innovative suite of property and casualty ... Read the full article
Amwins appoints Munawar Ali as EVP of Product Development & Capacity
15th September 2023
Amwins, a global distributor of specialty insurance products and services, has appointed Munawar Ali to the newly created position of Executive Vice President of Product Development & Capacity. In the role Ali will be responsible for overseeing the growth of Amwins’ exclusive product development and incubation programs. He will also play a ... Read the full article
Core Specialty to acquire Conifer’s Security & Alarm Business
15th September 2023
Core Specialty and its subsidiaries have entered into a series of transactions with Conifer Holdings to acquire Conifer’s Security & Alarm Business. Core Specialty explained that the Security & Alarm Business provides general liability, excess/umbrella, and selected other coverages to the niche Security Guards, Alarm Contractors, Private Investigators, and Trade Contractors ... Read the full article
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
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