Reinsurance News
Insurance news
Insurance news of relevance to the reinsurance market.
Our focus is on insurance and reinsurance news for large account, commercial and specialty lines, as well as pure reinsurance and retrocession news, analysis, insight and interviews.
Invictus Capital Partners launches Insurance Solutions Business
12th June 2024
Invictus Capital Partners, an alternative credit asset manager, recently announced the launch of its new Insurance Solutions Business, which will be led by Senior Managing Director, Carl D. Bell. The launch of the Insurance Solutions Business addresses the growing interest and inquiries from Invictus's insurance company partners and prospects, demonstrating the ... Read the full article
CFC enhances fintech insurance coverage
12th June 2024
CFC, an insurance provider known for emerging risks in the cyber insurance market, has announced a significant update to its fintech insurance coverage. This revamped offering, available in the UK, Canada, and Australia, provides a streamlined, comprehensive solution that addresses both professional service and technology risks faced by today's fintech sector. “It’s ... Read the full article
Fortegra receives approval to operate in Belgium and the EU
11th June 2024
Fortegra, a multinational specialty insurer and subsidiary of Tiptree Inc., has been granted licence to operate in Belgium and the European Union. Based in Brussels, Fortegra Belgium Insurance Company, NV will underwrite specialty lines of business. Its operation in the country offers the company access to strategic distribution channels in a continually ... Read the full article
Skyward Specialty expands media liability team
11th June 2024
Skyward Specialty Insurance Group, Inc., an insurance company in the property and casualty (P&C) sector, recently announced the recruitment of three accomplished media liability experts. This move signifies the ongoing expansion of the company's Media Liability team, bolstering its position in the market following its successful entry as a primary carrier ... Read the full article
Insurance premiums and policies rise in China in Q1 2024
10th June 2024
The China National Financial Regulatory Administration (CNFRA), responsible for overseeing the stability and compliance of China's financial sector, has released its supervisory statistics for the first quarter of 2024, highlighting significant increases in insurance premiums and the number of new policies. By the end of the first quarter of 2024, insurance ... Read the full article
LMA revises marine insurance policy clauses
10th June 2024
The Lloyd’s Market Association (LMA), representing insurers and reinsurers in the London insurance market, has issued revised versions of the hull and cargo oil price cap clauses. These updates simplify the language to accommodate recent modifications in the oil price cap mechanism, adapting to changes in sanctions regulations. Arabella Ramage, Legal Director ... Read the full article
IUA forms committee to oversee digital transition
10th June 2024
The International Underwriting Association (IUA), which represents companies in the London insurance market, has formed a new committee to oversee the adoption of digital services. As part of the Blueprint Two initiative, a unified digital platform for processing premiums and claims is being developed, with the first phase set to launch ... Read the full article
Catastrophe losses may raise rates, reduce homeowner protection: S&P
10th June 2024
As insured catastrophe losses surge, potentially leading to higher rates and diminished homeowner protection, S&P Global Ratings, a provider of credit ratings and research, examines the challenges facing property/casualty insurers. In their recent report, S&P highlight how recent data shows that insured catastrophe losses in the US have soared to over ... Read the full article
AmTrust welcomes legal specialists to Canadian team
10th June 2024
Headquartered in New York, AmTrust Financial Services, Inc., an insurance holding company, warmly welcomes seasoned legal expense specialists Kevin Le Messurier-Girling and Victoria Girling to its international team, enhancing its presence in Canada and bolstering efforts to advance within the legal expenses sector. “We are excited to welcome Kevin and Victoria ... Read the full article
WTW and Guidewire collaborate to enhance underwriting and insurance pricing
7th June 2024
WTW, a global advisory, broking, and solutions company, has announced a new partnership with Guidewire, a provider of software solutions for the insurance industry. This collaboration will enable carriers to quickly integrate WTW and Guidewire’s cloud platforms, enhancing the sophistication and speed-to-market of pricing, rating, and underwriting. Will Murphy, Vice President, Global ... Read the full article
David Kirk appointed Division President of Chubb Global Markets
7th June 2024
Chubb, a global property and casualty insurance company, has announced the appointment of David Kirk as Division President of Chubb Global Markets, which encompasses the company's London Market wholesale and specialty business, including its Lloyd's operations. Kirk currently serves as Head of Marine & Deputy Chief Underwriting Officer for the division. ... Read the full article
Paul Jones takes charge of Lockton UK’s specialised Parametrics Practice
7th June 2024
Insurance brokerage Lockton has appointed Paul Jones as the leader of Parametric Solutions for the UK & Europe in its Property & Casualty (P&C) Specialties division. Jones commented: “I am thrilled to be joining Lockton to develop its Parametric proposition to clients. It is a really exciting time to come on ... Read the full article
ABIR names Collin Anderson Director of Policy and Regulation
6th June 2024
The Association of Bermuda Insurers and Reinsurers (ABIR), which represents the public policy interests of Bermuda’s re/insurers, has announced the appointment of Collin Anderson as Director of Policy and Regulation, starting July 1. With 23 years of experience in both public and private sectors, Anderson has a robust background that includes ... Read the full article
Insurers’ private credit holdings set to keep growing, Moody’s
6th June 2024
Insurers are set to keep increasing their private credit holdings throughout the coming years, with almost 80% saying they plan to increase their holdings of at least one class of private credit over the long term, according to a recent analysis by Moody's. Private credit accounts for 36% of insurers' total investments ... Read the full article
Ambac to sell its legacy financial guarantee businesses to Oaktree for $420mn
5th June 2024
Ambac Financial Group, Inc., an insurance holding company, has announced it is to sell its legacy financial guarantee businesses, Ambac Assurance Corporation (AAC) and Ambac UK (AUK), to funds managed by Oaktree Capital Management, L.P.. The company has signed a definitive agreement to sell these businesses to Oaktree for $420 million ... Read the full article
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