Reinsurance News
Hamilton commences IPO process
17th October 2023
Bermuda-based Hamilton Insurance Group, Ltd. has filed a registration statement on Form S-1 with the US Securities and Exchange Commission (SEC) for a proposed underwritten initial public offering (IPO) of its common shares, and intends to use the net proceeds to make capital contributions to its insurance and reinsurance operating subsidiaries. The ... Read the full article
TCI expected to thrive amidst global economic slowdown and geopolitical flux: Swiss Re
17th October 2023
In a world marked by economic uncertainty and geopolitical tensions, trade credit insurance (TCI) is emerging as a crucial stabiliser of economic resilience, according to a report by the Swiss Re Institute. The study forecasts that TCI is set to grow despite a slowdown in global trade flows, driven by increasing ... Read the full article
AM Best’s outlook for US life/annuity & health segments remains stable
17th October 2023
Global ratings agency, AM Best has announced that its outlook for the US life/annuity and health segments remains at stable. According to the agency, the US L/A insurers have heavily benefited from high levels of risk adjusted capitalization, as well as favorable liquidity profiles and boosted net yields owing to higher ... Read the full article
Wikifri launches new cloud-based insurance data platform
17th October 2023
Wikifri, a consulting firm that focuses on innovation in insurance, has launched its cloud-based turnkey insurance data platform, Insurance Daylight (IDDS), offering an efficient way to stabilise data. Data has become a critical asset for insurers, but they are still grappling with disparate systems and fragmented data stores, hampering their ability ... Read the full article
Howden acquires Italian employee benefits service Wide Care Services
17th October 2023
Global insurance broker Howden has acquired Wide Care Services, a specialist Italian Employee Benefits service provider that has a proprietary platform for health and welfare management. The aim of the acquisition is to leverage Wide Care’s technology platform and proprietary software along with the opportunities that the company opens up for ... Read the full article
Record SCS activity drives $77bn 9M 2023 insured nat cat bill: RBC
16th October 2023
RBC Capital Markets highlights the surge in high frequency, small and mid-sized catastrophe events during the first three quarters of 2023, largely driven by a growing trend of severe convective storms (SCS) in the United States. Overall, catastrophe losses reached approximately $77 billion after the first nine months of 2023, with ... Read the full article
Accelerant expands presence to Canada through acquisition of Omega Insurance
16th October 2023
Insurtech firm Accelerant is set to expand its presence into the Canadian market through the acquisition of Omega Insurance Holdings, Inc., from Till Capital Ltd. Omega Insurance Holdings offers secure, innovative and customized solutions for re/insurers entering and exiting the Canadian insurance market. Jeff Radke, CEO and co-founder of Accelerant, commented: “Accelerant’s entry ... Read the full article
Alice Caccamese joins Aon Reinsurance Solutions as MD EMEA Facultative
16th October 2023
Alice Caccamese has joined Aon Reinsurance Solutions from rival broker Guy Carpenter as Managing Director EMEA Facultative. Caccamese is highly experienced in the industry, having operated in a number of senior roles at a host of well-known re/insurance firms. She most recently served as Senior Vice President at Guy Carpenter, a global ... Read the full article
China Re completes set up and capitalisation of digital technology unit
16th October 2023
China Reinsurance (Group) Corporation has completed the establishment of its previously announced subsidiary, China Reinsurance Digital Technology Co., Ltd. (CRDT), which will provide IT services to member companies and launches with registered capital of 200 million yuan (USD 27.4 million), solely funded by the firm. In a previous filing, China Re ... Read the full article
Augment Risk launches Global Parametric Specialty division
16th October 2023
Reinsurance broker Augment Risk has announced the launch of its Global Parametric Specialty division, led by newly appointed Kurt Cripps. The new unit will be focused on "client-tailored parametric reinsurance products designed to provide a surgical approach to managing CAT exposures." Augment Risk said its parametric placements are designed to enhance the ... Read the full article
BMS hires Andras Bohm as head of US Capital Advisory
16th October 2023
Independent specialist re/insurance broker, BMS Group, has appointed Andras Bohm as the head of its US Capital Advisory business and the CEO of BMS Capital Advisory, Inc. - BMS Groups’ U.S. broker-dealer - subject to regulatory approvals. In his new role, Bohm will hold responsibility for leading BMS Group's investment banking ... Read the full article
Allianz to sell 49% stake in CPIC Fund Management
16th October 2023
Global insurer Allianz has entered into definitive agreements over the sale of its 49% stake in CPIC Fund Management Co., Ltd. to Guotai Junan Securities Co., Ltd. The transaction is subject to the approval of the China Securities Regulatory Commission (CSRC), and other relevant authorities. The divestment is in line with Allianz's ... Read the full article
National Western & Prosperity Life Group announce signing of $1.9bn cash merger
16th October 2023
National Western Life Group, Inc., the parent organization of National Western Life Insurance Company, and Prosperity Life Group have announced the signing of a definitive Merger Agreement whereby S. USA Life Insurance Company, Inc. (SUSA), an affiliate of Prosperity Life Group, will acquire National Western in an all-cash transaction valued ... Read the full article
Insurance innovation hub Howden Ventures launches with £500m underwriting capacity
16th October 2023
Global insurance group Howden has unveiled an innovative venture known as Howden Ventures, pending approval from Lloyd's, aimed at accelerating insurance product development. Described by the broker as a world-first insurance innovation hub, the initiative launches with £500 million in delegated underwriting capacity and seeks to become an investment and risk ... Read the full article
Jen Tan joins Artificial Labs as Head of Portfolio Strategy
16th October 2023
Artificial Labs, a UK insurtech providing algorithmic underwriting technology to the commercial and specialty insurance market, has appointed Jen Tan as Head of Portfolio. Tan joins Artificial with 14 years’ experience in Lloyd’s and London Market pricing, portfolio management and risk management. In her new role, she will play an integral ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
