Reinsurance News
Great American Insurance promotes Joseph Kowaleski to SVP & CIO
3rd October 2023
Great American Insurance Group has announced the promotion of Joseph Kowaleski to the role of Senior Vice President (SVP) & Chief Information Officer (CIO), succeeding James Niehaus, who will retire in January 2024 after more than 16 years of service with the company. The change in role is effective from October ... Read the full article
Toppi joins Cincinnati Re as Director of Property Reinsurance
3rd October 2023
Christopher Toppi has joined Cincinnati Re, the reinsurance arm of The Cincinnati Insurance Companies, as Director of Property Reinsurance. Toppi brings over nine years of industry experience to his new role. He is joining Cincinnati Re from Ryan Re Underwriting Managers, where he served for close to four years. He joined the ... Read the full article
Origami Risk makes senior-level appointments within Core Solutions unit
3rd October 2023
Risk, safety, and insurance Software as a Service (SaaS) technology firm, Origami Risk, has named Chris Bennett as Chief Strategy Officer, and Mike Kaplan as Division President within its Core Solutions arm. With these appointments, the division is positioned to sustain its accelerated growth in serving insurers, managing general agents, program ... Read the full article
Reinsurance pricing to normalise in late 2024, says Goldman Sachs
2nd October 2023
Analysts at Goldman Sachs expect rate firming to persist in reinsurance lines of business through the rest of 2023, with a deceleration in the January 1st, 2024, renewal rate changes, and pricing to normalise in late 2024. Despite reinsurance pricing normalisation anticipated late next year, analysts still expect to see continued ... Read the full article
Insurtech Artificial Labs and Tier 2 Consulting announce partnership
2nd October 2023
UK-based insurtech, Artificial Labs, and Tier 2 Consulting, renowned for its expertise in agile software development, have joined forces to revolutionise insurance solutions with automated underwriting technology. According to the announcement, this alliance promises cutting-edge solutions and transformative advancements for insurance providers and policyholders alike. With over two decades of experience in ... Read the full article
Pie Insurance names Audra Foglietta Chief Financial Officer
2nd October 2023
Pie Insurance, an insurtech company specialising in commercial insurance for small businesses, has appointed Audra Foglietta as the new Chief Financial Officer. Pie suggests that Foglietta will bring a wealth of financial leadership and strategic expertise to the firm, having spent more than two decades at Chubb. She most recently served as ... Read the full article
Greenlight Re receives Excellent ratings from AM Best with stable outlook
2nd October 2023
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a-" (Excellent) for Greenlight Reinsurance, Ltd. (Cayman Islands) and Greenlight Reinsurance Ireland, Designated Activity Company (Ireland). Additionally, the Long-Term ICR of "bbb" (Good) for Greenlight Capital Re, Ltd. (Cayman Islands) (GLRE), ... Read the full article
Michele Bang joins RGA’s Board of Directors
2nd October 2023
Leading global life and health reinsurance firm, Reinsurance Group of America, Incorporated (RGA), has appointed Michele Bang to its Board of Directors A highly experienced veteran across the industry, Bang previously served as the Deputy Chief Executive Officer of Eastspring Investments, the Asia asset management arm of Prudential plc. During her tenure ... Read the full article
At-Bay adds 40 business classes to MPL product offering and doubles appetite to $50m
2nd October 2023
Cyber insurance provider At-Bay, has announced it has added more than 40 new classes of business to its Miscellaneous Professional Liability (MPL) product and increased the eligible revenue limit for businesses to $50 million. At-Bay has boosted the number of business classes available within its six most popular verticals offered by ... Read the full article
American Overseas posts rise in net earned P&C premiums in Q2 results
2nd October 2023
American Overseas Group Limited has reported a consolidated net income available to common shareholders of $0.9 million, for the second quarter of 2023. This figure compares to a consolidated net loss available to common shareholders of $0.3 million from the same period last year. At the same time, net earned property and ... Read the full article
WTW names Beldy Torborg to dual leadership role in North American CRB division
2nd October 2023
WTW, a leading global advisory, broking, and solutions company, has announced the appointment of Karen Beldy Torborg to a dual-hatted role within the Corporate Risk and Broking (CRB) division in North America. Beldy Torborg will serve as both Head of Strategic Growth & Portfolio Management and Head of the Large Accounts ... Read the full article
AM Best report highlights impact on insurance sector if US gov shutdown happens in the future
2nd October 2023
While the U.S. government has avoided a federal shutdown, a recent AM Best report highlights the potential impact a shutdown could have on the insurance industry, were it to happen in the future. Fortunately, both the House and Senate agreed on a short-term funding deal ahead of deadline, avoiding something which ... Read the full article
IFC signs $3.5bn credit insurance policy with 13 global insurers
2nd October 2023
International Finance Corporation (IFC), a global development institution focused on the private sector in emerging markets, has signed a $3.5 billion credit insurance policy with 13 global insurance companies under its Managed Co-Lending Portfolio Program (MCPP). This is a milestone that will support economic activity and foster development in emerging markets. MCPP ... Read the full article
Allianz SE announces updates to Board of Management
2nd October 2023
Allianz SE has announced a series of updates to its Board of Management, among which Oliver Bäte’s mandate as Chairman has been renewed and extended through the Annual Shareholders Meeting 2028. At the same time, The mandate of Andreas Wimmer as a Member of the Board of Management responsible for Life ... Read the full article
Ascot hires new Predictive Modeling & AI Strategy Leader
2nd October 2023
Artificial intelligence (AI) industry leader Christian Toft-Nielsen has been appointed to the role of Senior Vice President, Predictive Modeling and AI Strategy at Ascot. According to the announcement, in this newly created role, Christian will hold responsibility for developing the company's AI and analytics framework to optimize processes and drive operational ... Read the full article
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