Reinsurance News
Reinsurance sector poised for strong 2023 and beyond: BofA
24th October 2023
Analysts from BofA Securities, Inc. are forecasting a promising year for the reinsurance industry in 2023, as shares continue to outperform the broader sector and market. European reinsurers, in particular, saw a remarkable upswing with a year-to-date growth of 21%, significantly outstripping the sector's 9% and the market's 8% gains. This robust ... Read the full article
W. R. Berkley Corporation sees net income increase 45.7% to $334m in Q3
24th October 2023
W. R. Berkley Corporation has reported that Q3 underwriting income and net income grew 34.7% and 45.7% to $258.7 million and $333.6 million, respectively, while net investment income in the quarter stood at $270.9 million, driven by a 59.3% increase in the core portfolio. The firm also disclosed a Q3 operating ... Read the full article
Talanx raises FY23 profit forecast to more than €1.5 billion
24th October 2023
The Talanx Group, the parent company of global reinsurer Hannover Re, expects to report net income of over €1.25 billion for the first nine months of 2023, and has raised its profit expectation for the full year to significantly above €1.5 billion. The carrier notes a strong operating performance of its ... Read the full article
Protos Labs completes SGD $3m seed round funding
24th October 2023
Protos Labs, a cyber risk management company, has successfully raised SGD $3 million in its most recent seed round, funds that will be used to accelerate its global expansion and the development of cyber risk analytics and modelling tools for re/insurers. The seed round saw participation from several investors, including BEENEXT, ... Read the full article
Guy Carpenter predicts stability for trade credit, bond and political risk at Jan 1
24th October 2023
"There is a shared appetite from insurers and reinsurers to grow in specialty lines to dilute volatility in other classes, which should improve market dynamics for trade credit, bond and political risk," according to David Edwards, Co-Head, Credit, Bond and Political Risk Division, Guy Carpenter. Edwards' comments stem from Guy Carpenter's ... Read the full article
AXA XL & AXA Research Fund join CCRS to help mitigate system risks
24th October 2023
Both AXA XL and the AXA Research Fund have joined a research hub created by the Cambridge Centre for Risk Studies (CCRS) to help mitigate systemic risks like climate change, pandemics, cyber threats, geopolitical change and financial crisis. According to the announcement, the Cambridge Systemic Risks Hub has a particular focus ... Read the full article
NN’s ratings unaffected by unit-linked Dutch court ruling: Fitch
23rd October 2023
According to Fitch Ratings, last month’s interim judgement delivered by the Dutch Court of Appeal in respect of certain unit-linked insurance policies, will not impact the ratings of either Nationale-Nederlanden Levensverzekering Maatschappij N.V., which sold the policies in the 1990s and early 2000s, or the wider NN Group N.V. (NN). Fitch ... Read the full article
Munich Re reports preliminary Q3 net result of €1.2bn, sets new annual target
23rd October 2023
Citing consistently good operational performance in all business segments, Munich Re has disclosed a preliminary net result for Q3 of ca. €1.2bn, as the firm remains "well positioned" to surpass the previous annual target of €4bn. Munich Re explained that in property-casualty reinsurance, it reported major losses that were slightly below ... Read the full article
Ping An uses insurance as catalyst for conservation, ESG investment
23rd October 2023
Ping An Insurance (Group) Company of China, Ltd. has noted it continues to make strides in the realm of environmental conservation and ESG (Environmental, Social, and Governance) investment by utilising insurance as a catalyst for change. In a groundbreaking move, the company established the Ping An Biodiversity and Environmental Conservation Charitable ... Read the full article
Interest in alternative capital is growing driven by challenging market: Guy Carpenter
23rd October 2023
The current market conditions are driving up interest in alternative capital and reinsurance structures to meet clients’ risk requirements, re/insurance specialists highlighted during Guy Carpenter’s Reinsurance Symposium in Baden-Baden. In its symposium, the broker addressed the theme of "The rise in demand for alternative solutions". Senior industry figures from the re/insurance ... Read the full article
Lockton expands team with three key appointments
23rd October 2023
Independent insurance broker, Lockton, has expanded its team through the appointments of Lewis Parle, Laura Patrick, and Lauren McKay, all with immediate effect. In his new role, Parle will lead client solutions in Intellectual Property Risk. He join the broker from Icen Risk, where he previously led a transactional IP risk ... Read the full article
Sompo adds to its Iberian team two senior executives from Generali and AIG
23rd October 2023
Sompo International, a global provider of commercial and consumer property and casualty re/insurance, has announced two appointments for its Iberian Insurance operation. Joining from Generali is José María Conde-Salazar, who has been named Head of Distribution & Client Relationship Management. Meanwhile, Olivier Marcén, who joined from AIG, has been appointed Head ... Read the full article
Consilium names Zeb Partner in its Professional & Executive Risks Solutions team
23rd October 2023
International (re)insurance broker Consilium, part of the Aventum Group, has appointed Rukhsana (Roxy) Zeb as the newest Partner in its Professional and Executive Risks Solutions team. According to Consilium, Zeb will utilise her expertise in financial and professional risks to lead service-driven growth in the UK, Ireland and other key financial ... Read the full article
Activist hedge fund Trian builds stake in Allstate
23rd October 2023
Trian Fund Management, activist hedge fund led by Nelson Peltz, has built a stake in Allstate Corporation (ALL), one of the insurers struggling to cope with the fallout of natural disasters, Reuters has reported. According to the news agency, the move could increase pressure on Chief Executive Tom Wilson to turn the ... Read the full article
AM Best revises Everen Specialty’s outlook to negative due to declining capitalisation
23rd October 2023
AM Best announced a negative revision in its outlook for Everen Specialty Ltd. (Everen Specialty) to negative from stable reflecting the impact of Everen Specialty’s declining risk-adjusted capitalisation. The revision pertains to the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) for Everen Specialty, ... 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.
