Reinsurance News
WTW launches Asia Pacific Climate Risk Centre in Singapore
7th November 2023
Global insurance broker WTW has launched a new Asia Pacific Climate Risk Centre (ACRC) in Singapore, which will provide climate risk quantification and management capabilities to support the region’s resilience and transition to net-zero. The launch reinforces the company's commitment to helping the region transition to a resilient, low-carbon economy. It ... Read the full article
Lockton Re analytics platform receives US Patent
7th November 2023
Lockton Re, the reinsurance arm of the independent insurance broker, has announced that its analytics platform, SAGE, has been awarded a US Patent. This patent is for systems and methods for custom and real-time visualization, comparison, and analysis of insurance and reinsurance structures. Claude Yoder, Global Head of Analytics, Lockton Re, commented: ... Read the full article
Applied Underwriters unveils United Risk, names Dan Malloy as CEO
7th November 2023
Applied Underwriters has unveiled a newly consolidated enterprise named United Risk, which brings together the entirety of the firm's MGA and MGU businesses into a single cohesive brand, headed by industry leader Dan Malloy. Malloy, who has been appointed CEO of United Risk, most recently served as CEO of SiriusPoint after ... Read the full article
FWD Group announces robust growth momentum
7th November 2023
Pan-Asian life insurance business, FWD Group sees “another quarter of robust double digit new business growth”, Group Chief Executive Officer, Huynh Thanh Phong stated as the company publishes its business highlights for the nine months ended 30 September 2023. New business sales for the FWD Group grew 22%, to $1,253 million. ... Read the full article
Underwriters highly concerned about slow progress in underwriting processes: hyperexponential
7th November 2023
A vast majority of underwriters are worried about insurers’ ability to deliver next-generation underwriting, mainly due to underperforming technology, hyperexponential research has revealed. Analysts stated: “This disillusionment comes as the majority of insurance firms are about to embark on a new investment cycle for pricing tech over the next 12 months. ... Read the full article
RenRe emerges as fifth-largest P&C reinsurer following Validus Re acquisition
7th November 2023
RenaissanceRe Holdings Ltd. (RenRe), a distinguished member of the Association of Bermuda Insurers and Reinsurers (ABIR), has successfully concluded its acquisition of Validus Re and its subsidiaries from American International Group (AIG), securing its position as the fifth-largest property and casualty (P&C) reinsurer in the world. Validus Re was among the ... Read the full article
Charles Taylor boosts its loss adjusting services in Asia with key hires
7th November 2023
With the expansion of its operations across Asia, Charles Taylor has welcomed 11 new hires to boost its loss adjusting services team across vital locations in the region. According to the announcement, this move is in response to the growing need for comprehensive loss adjusting services in Asia, and as part ... Read the full article
FM Global names Tadmoury as Executive Vice President
7th November 2023
Commercial property insurer FM Global has named Ziad Alex S. Tadmoury as their new Executive Vice President. Tadmoury will be responsible for overseeing operations in the regions of EMEA, Asia Pacific, Canada, as well as FM Global's specialty industries. Additionally, he will take charge of AFM, the company's middle market insurance division. Tadmoury, ... Read the full article
Skyward Specialty posts $21.7m net income for Q3, combined ratio sits at 90.2%
7th November 2023
Skyward Specialty Insurance Group, Inc. has posted a net income of $21.7 million for the third quarter of 2023, compared to a net loss of $2.4 million for the same period last year. Net income for the first nine months of 2023 sits at $56.7 million, a substantial improvement compared to ... Read the full article
Climate litigation risk a rising issue that we “need to consider” in our underwriting: Beazley’s Cox
7th November 2023
Adrian Cox, CEO of Beazley, speaking this morning in London at an AM Best event, explained how Beazley sees climate litigation risk as a rising issue that the company needs to consider in its underwriting. He stated that climate liability risk arises from parties that have suffered from loss or damage ... Read the full article
Insurtech Mulberri launches AI-powered Risk Assistant
7th November 2023
Insurance startup Mulberri, has launched its new AI-powered Risk Assistant and rolled out its embedded property and casualty platform to make insurance innovation accessible to a broad range of industries outside payroll and Human Resources (HR) providers. Now industries including associations, brokers, insurtechs, carriers, MGAs, financial institutions, cyber technology providers, ISPs ... Read the full article
Stable cyber insurance pricing, rising casualty rates in Europe’s insurance market: Marsh
7th November 2023
In the latest Marsh Global insurance market index report for Europe, property insurance pricing saw a 7% increase, slightly down from the prior quarter's 8%. The rise was attributed to the impact of catastrophic events and secondary perils like floods, storms, wildfires, and hail. Insurers adjusted their exposures, line sizes, and increased ... Read the full article
RELA unveils claims adjustment proposition for marine market
7th November 2023
Renewable Energy Loss Adjusters (RELA), has launched a new claims adjustment proposition dedicated to the marine market. According to RELA, the new proposition will provide independent average adjusting services by a qualified average adjuster, which will be supported by a global network of surveyors and adjusters. At the same time, RELA Marine ... Read the full article
Aon announces a number of new UK partners
7th November 2023
Insurance and reinsurance broking group, Aon, has announced the appointment of 12 new UK-based partners in the Wealth and Talent Solution Lines of its Human Capital capability. A client manager with over three decades of pension experience, Sue Austen will lead Aon’s secretariat, pensions management and secondment services. Austen will be responsible ... Read the full article
Argenta appoints Edward Davidson as Energy Transition Technology Underwriter
7th November 2023
Argenta Syndicate Management Limited (ASML), a subsidiary of Argenta Holdings Limited, has announced the appointment of Edward Davidson to the newly created role of Energy Transition Technology Underwriter. Based in London, Davidson will report to Heath Callan, Divisional Head of Energy and Marine. Davidson's appointment underscores Argenta's commitment to supporting a net-zero ... Read the full article
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