Reinsurance News
Aspen’s reinsurance arm sees 16% drop in H1’23 premiums, underwriting income improves
22nd August 2023
Bermuda-based insurer and reinsurer, Aspen Insurance Holdings, has reported a 16% decrease in gross written premiums for its reinsurance segment for the first six months of 2023, while underwriting income rose. Gross written premiums (GWP) for H1'23 was $876 million for the reinsurance segment, compared to $1.05 billion in 2022, primarily ... Read the full article
Record ILS issuance in H1 and a record-breaking year expected: Swiss Re
22nd August 2023
The insurance-linked securities (ILS) market delivered another very strong performance in the first half of 2023 with new issuance breaking records in the period, Swiss Re has revealed, who has also predicted a record-breaking full-year in both the size and number of newly issued bonds. According to Swiss Re’s latest ... Read the full article
Xceedance names Praveen Pachaury SVP of Technology and Digital
22nd August 2023
Global technology and digital solutions provider, Xceedance, has announced the appointment of Praveen Pachaury as the company's new Senior Vice President of Technology and Digital. In his new role, Pachaury will be responsible for leading the worldwide technology and digital practice, driving innovation in the insurtech sector, and enhancing digital returns ... Read the full article
PPL deploys first major upgrade to Next Gen platform
22nd August 2023
Placing Platform Limited (PPL) has deployed, on schedule, its first major upgrade since Next Gen was launched in March earlier this year. According to PPL, this follows five “continuous improvement” releases that have introduced regular enhancements to the platform in the months since it was launched. Release 2.0 contains over 100 ... Read the full article
Reinsurance pricing trends remain strong amidst shifting landscape: JP Morgan
22nd August 2023
In 2023, the reinsurance sector has outperformed expectations, with JP Morgan analysts' bullish stance since mid-2022 being substantiated by robust pricing trends and this year's renewal outcomes. In particular, the European reinsurers have showcased positive pricing improvements year-to-date, even when accounting for higher loss cost assumptions. The results of the Guy Carpenter ... Read the full article
Farmers Insurance Group’s ratings placed on review for downgrade by Moody’s
22nd August 2023
Moody’s has placed Farmers Insurance Group’s ratings on review for downgrade, a move that reflects the rating agency’s concerns around insurer’s underwriting results in its core personal lines and its capital adequacy. The review includes Farmer’s A3 insurance financial strength (IFS) rating and Baa3 (hyb) surplus notes ratings. As well as the ... Read the full article
Tysers announces departure of CEO Clive Buesnel
22nd August 2023
Tysers, an independent Lloyd’s broker and member of the AUB Group, has announced that CEO Clive Buesnel will leave the firm at the end of the month, with Mike Emmett, AUB Group CEO, stepping in as Interim CEO. Clive was first appointed CEO of Tysers in June 2020 with the "significant ... Read the full article
Top reinsurance firms resilient amid inflation measures, expected to rebound to 2021 capital levels: AM Best
22nd August 2023
Amid central banks' inflation-fighting measures, leading reinsurance firms have showcased capitalisation resilience, with an expected rebound in traditional capital to 2021 levels by year-end, despite substantial equity declines, according to AM Best's report. AM Best's analysis indicates that the top 25 global reinsurance groups experienced a nearly 17% reduction in shareholders' ... Read the full article
MS Amlin’s John Wynne Davies joins Coalition’s Special Projects team
22nd August 2023
Cyber insurance provider, Coalition has announced that John Wynne Davies has joined the company as its first Special Projects Lead in the UK. Having previously served as MS Amlin’s Strategy Manager for Lloyd’s, in his new role, Wynne Davies will be responsible for developing and implementing Coalition’s strategy in the UK, which ... Read the full article
HDI Global SE’s insurance revenue rises by 10% in H123
22nd August 2023
The industrial insurer HDI Global SE part of the Talanx Group has reported that insurance revenue rose by a clear 10% to €4.2 billion in the first half of the year, compared to €3.8 billion from the same period last year. According to the firm, this solid performance was partly due ... Read the full article
BHSI promotes Jean-Francois Leandri to Global Risk Control Officer
22nd August 2023
Berkshire Hathaway Specialty Insurance (BHSI) has announced the promotion of Jean-Francois Leandri to the position of Global Risk Control Officer, part of BHSI’s Chief Underwriting Office. He will continue to be based in Paris andi will be reporting to Dean LaPierre, Chief Underwriting Officer, Property & Marine, BHSI, who commented: “Our ... Read the full article
PERILS ups Emilia-Romagna flood industry loss estimate to €488m
22nd August 2023
Zurich-based catastrophe insurance data provider PERILS AG has increased its industry loss estimate for the floods in the Emilia-Romagna region of Italy during May to €488 million. According to PREILS, the loss estimate covers the property lines of business and is based on loss data collected from the Italian insurance market. This ... Read the full article
Aon names Qin Lu as head of Greater China
22nd August 2023
Aon has named Qin Lu as head of Greater China to "bring together risk capital and human capital capabilities." In the new role, Lu will oversee Aon's business in mainland China, Hong Kong, Macau and Taiwan. Earlier this year, the firm created a new Greater China sub-region for these markets to "better ... Read the full article
BMS Group appoints Tim Hewitt as Head of Japan
22nd August 2023
Independent specialist insurance and reinsurance broker, BMS Group, has announced the appointment of Tim Hewitt as Head of BMS in Japan. The appointment is in line with the Group’s commitment to accelerate its strategic growth in Asia. Hewitt is an experienced lawyer and executive. He will lead BMS operations in Japan, ... Read the full article
European reinsurers report strong 1H23 results amid improved pricing & investments: Fitch
22nd August 2023
The leading European reinsurers, including Hannover Re, Munich Re, SCOR SE, and Swiss Re, have unveiled robust financial results for the first half of 2023, marking a sharp contrast to the challenges faced in the same period last year, according to Fitch's report titled "European Reinsurers: 1H23 Results." The resurgence in ... Read the full article
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