Reinsurance News
Your search for “cyber”
Oneglobal Broking hires Financial Lines Manager, Insurance & Reinsurance
24th July 2023
Thayane Cesar Rocha has been appointed to the role of Financial Lines Manager - Insurance and Reinsurance, at Oneglobal Broking. Bringing over 10 years of industry expertise towards her new role, Thayane joins Oneglobal from IRB Brasil RE, where she previously held the role of Financial Lines Underwriting Specialist. Whilst serving in ... Read the full article
Cannabis property market unlikely to see rate decreases over next few months: Amwins
21st July 2023
The cannabis insurance market has experienced a variety of transformations and shifts in recent years. As the sector continues to develop, insurance providers are refining their offerings to meet the needs and challenges being presented. In their 'State of the Market Cannabis report', Amwins highlights that most major cannabis programs offer ... Read the full article
Travelers secures additional hurricane reinsurance at renewal, upsizes Northeast property cat treaty
20th July 2023
US primary insurer Travelers has again increased the size of its Northeast property catastrophe excess-of-loss (XoL) reinsurance treaty by $100 million at the mid-year renewals, during which the firm also entered into a new personal insurance hurricane catastrophe XoL treaty. Renewed at the July 1st, 2023, reinsurance renewals, Travelers' Northeast property ... Read the full article
CFC introduces innovative TTS insurance to safeguard title to shares loss
19th July 2023
Specialist insurance provider CFC, known for its expertise in emerging risks and leadership in cyber insurance, has unveiled its latest offering, an innovative solution to cover title to shares risks (TTS insurance). The newly launched TTS insurance is designed to provide excess coverage for losses arising from breaches of title and ... Read the full article
Global cat rates surge by 27% YTD; US leads with 35% increase: RBC
14th July 2023
Global catastrophe rates have surged by 27% year-to-date, with the United States experiencing the highest increase at 35%, according to RBC Capital Markets. The property catastrophe rate indexes have reached levels not seen since 2006, when a significant number of new insurers emerged, including notable companies like Lancashire. Across various sub-segments, insurance ... Read the full article
Claims inflation to remain noticeable for the rest of 2023: Bloomberg Intelligence
12th July 2023
Claims inflation is expected to remain a highly noticeable feature for the rest of 2023, according to Bloomberg Intelligence’s new Europe P&C Insurance 2023 Outlook, with analysts believing that insurers will not be able to increase rates enough to fully offset rising expenses. According to analysts this situation has been building ... Read the full article
US commercial insurance rates steady in Q2: MarketScout
10th July 2023
MarketScout has reported that composite US commercial insurance rates were steady in Q2 2023, with business across the country seeing an average rate increase of 5% in the quarter. Richard Kerr, CEO of MarketScout and Novatae Risk Group, commented, “While the composite rate held steady in the second quarter, there was ... Read the full article
Zurich announces partnership with insurtech Qover
7th July 2023
Zurich Insurance Group has joined forces with Belgium-based Qover, to expand its embedded insurance capabilities. The insurer entered this partnership through Zurich Global Ventures as part of which Zurich is also joining the insurtech’s Series C funding round. Qover was founded in 2016 with the vision to simplify the future of insurance; ... Read the full article
Howden CAP forms partnership with Pernix, employing the efficiency of Structured Credit APIs
7th July 2023
Insurance broker Howden has announced that Pernix Specialty Limited has joined Howden CAP as its latest API (Application Programming Interfaces) partner. This partnership heavily reflects both Howden CAP and Pernix’s commitment to use digital platforms to improve efficiency in the marketplace, as well as provide enhanced solutions for clients and lead ... Read the full article
Specialty MGA UK gets Lloyd’s accreditation
7th July 2023
Recently formed Specialty MGA UK, which is focused on providing additional capacity for specialty lines of businesses, has been approved as a Lloyd’s Coverholder. After being set up last year, Lloyd’s accreditation represents another significant step for the company as it builds its international offering. Philippe Bara, Chief Underwriting Officer at ... Read the full article
Clear Group makes first MGA investment
7th July 2023
Insurance broker Clear Group, has announced its first MGA investment with the acquisition of a 50% shareholding in Thomond Underwriting Limited. Based in the Republic of Ireland and Northern Ireland, Thomond Underwriting is a commercial MGA and Lloyd’s Coverholder, which has been operating in the region since 2007. It deals exclusively through ... Read the full article
Banyan Risk names Ben Munro Chief Underwriting Officer
6th July 2023
Specialty Managing General Agent (MGA) Banyan Risk, has appointed Ben Munro to the newly-created role of Chief Underwriting Officer. In his new role, Munro will be responsible for overseeing the execution and achievement of Banyan Risk’s plans for profitable growth globally, as well as using his depth of experience in the ... Read the full article
Catastrophe bond market reaches new heights in Q2 2023: Report
6th July 2023
A huge $7.1 billion of catastrophe bond and related insurance-linked securities (ILS) issuance featured in the second-quarter of 2023, taking first-half issuance to a record of more than $10.3 billion, according to the latest quarterly report from our ILS-focused sister publication, Artemis. Data from the ... Read the full article
Chubb promotes Benson to Chief Revenue Officer, Commercial Insurance
5th July 2023
Tim Benson has been promoted to the role of Chief Revenue Officer - Commercial Insurance at global re/insurer Chubb. A highly experienced veteran across the industry, Benson has worked for Chubb for over 18 years. In his most recent role, he served as Executive Vice President - Analytics and Sales Enablement. Prior ... Read the full article
Spring Insure grows Financial Lines team with two new hires
5th July 2023
Specialist financial and commercial lines MGA, Spring Insure has announced the appointment of two new hires, James O’Halloran as Development Underwriter and Charlie Cooper as Underwriter. According to the announcement, these appointments form part of Spring Insure’s plans to significantly expand its footprint in the UK and European FinPro sector. The two ... 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.
