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.
Hurricane Idalia forecast to hit Florida “near or at major intensity”
28th August 2023
Florida is facing a significant hurricane threat this week, as tropical storm Idalia is forecast to become hurricane Idalia later today, before then heading over extremely warm Gulf waters towards Florida's coast where the NHC forecast it could be near or at major intensity by landfall. Update: The latest NHC advisory, ... Read the full article
Insurtech innovations set to reshape insurance industry: Waterstreet Study
25th August 2023
In a study involving hundreds of prominent insurance leaders, Waterstreet has revealed a compelling vision of the future of insurance, shedding light on the transformative impact of insurtech innovations, artificial intelligence (AI), machine learning, and blockchain on the industry landscape. Survey participants overwhelmingly foresee insurtech startups as the driving force behind ... Read the full article
Neptune’s growth in re/insurer relationships provides $100m+ additional premium capacity
23rd August 2023
Neptune Flood, a private flood insurance company, has announced successful growth in insurance carrier and reinsurer relationships, having reviewed and expanded programs with AXA XL, MS Transverse, and Lloyds. The 2023-24 renewals have expanded Neptune's network to 23 insurance carriers and reinsurers, backing six unique programs with AXA XL, MS Transverse, ... Read the full article
APAC sees increased demand for solutions in Q2, insurers focused on retention and growth: Aon
21st August 2023
An increased demand for insurance solutions has been seen in the Asia-Pacific region (APAC) as its economies open to the rest of the world and businesses look to grow, this was met by insurers focused on retention and targeted growth, according to Aon’s Q2 2023 Global Market Insights report. The pricing ... Read the full article
Becoming less shock prone makes emerging Asia attractive for insurers and investors: Swiss Re
11th August 2023
Emerging Asia is becoming less shock prone, this along with enhanced economic credibility lowering long-term volatility of growth, inflation and interest rates, is making the region more attractive for insurers and investors alike, according to a recent report by the Swiss Re Institute. Emerging economies, especially in Asia, are experiencing rapid ... Read the full article
M&A activity in global insurance industry sees sharp drop in H1’23: Clyde & Co
11th August 2023
The global insurance industry has experienced a significant decline in mergers and acquisitions (M&A) during the first half of 2023, according to Clyde & Co's Insurance Growth Report mid-year update. Completed deals totaled 171 worldwide, marking a substantial decrease from 207 in the second half of 2022 and 242 during the ... Read the full article
RBNZ stress test reveals resilience of New Zealand’s life insurance industry
9th August 2023
The Reserve Bank of New Zealand – Te Pūtea Matua (RBNZ) has conducted its inaugural stress test for the country's life insurance sector, revealing that the largest insurers are well-equipped to weather severe economic and insurance shocks while ensuring policyholders' claims are met. The stress test, known as the Life Insurance ... Read the full article
Stable outlook for APAC insurers in midyear 2023 despite potential challenges: S&P
7th August 2023
In its recently released midyear outlook, S&P Global Ratings has highlighted that the Asia-Pacific insurance sector is experiencing stable credit trends, with 90% of the region's insurers holding a stable outlook. This positive sentiment is underpinned by factors such as rising risk awareness and a low level of insurance penetration, which ... Read the full article
Sri Lanka’s debt restructuring plan likely to reduce investment risk for insurers
7th August 2023
Investment and liquidity risk is likely to decrease for insurers in Sri Lanka, whose ratings are already under watch, due to the country’s new debt restructuring plan, according to Fitch Ratings. “Fitch expects pressure on insurers' investment and capital profiles to ease as the proposed plan will not have direct impact ... Read the full article
AM Best highlights excellent profitability and utility of captive insurers in 2022
4th August 2023
In a recent report by AM Best, it has been revealed that captive insurance companies, those rated by AM Best, experienced a remarkable year in 2022. These captive insurers achieved a notable doubling of pretax operating income compared to the previous year, alongside marking the most substantial premium increase in the ... Read the full article
Economic risk expected to have great impact on businesses: Clyde & Co
2nd August 2023
Economic risk is expected to have the biggest impact on businesses over the next two to three years, according to a recent report by Clyde & Co and Winmark. The Corporate Risk Radar 2023 report found that economic risk rocketed to the top of the list in 2023, with 74% of ... Read the full article
Former Axis exec Matson to lead newly launched Altea Insurance
1st August 2023
Altea Insurance, a provider of combined insurance and risk management solutions for the medical, allied health, and care sectors, has officially launched under the leadership of former senior Axis executive Carly Matson as CEO. Headquartered in London, the company is backed by Mission Underwriters UK & Europe, and its cutting-edge approach ... Read the full article
Insurance customers willing to share data for premium discounts: Sollers’ Survey
31st July 2023
A recent survey conducted by Sollers Consulting in collaboration with IPSOS reveals that insurance customers are far more open to sharing data than previously assumed by the industry. The study, which encompassed 3,800 insurance customers across the UK, France, Germany, and Poland, indicates that a significant proportion of clients are willing ... Read the full article
Nsure.com secures strategic investment from Pelican Ventures
27th July 2023
Nsure.com, America's leading digital insurance agency, has secured a strategic investment from Pelican Ventures, a private investment firm known for supporting visionary entrepreneurs in the insurance industry, with the exact amount undisclosed. Founded in 2018, Nsure.com has rapidly emerged as a full-service digital agency, providing comprehensive personal lines coverage across all ... Read the full article
Specialty & Commercial insurers struggle with outdated pricing technology, poll reveals
20th July 2023
A recent survey conducted by independent research firm Coleman Parkes for pricing decision intelligence leader, hyperexponential, has shed light on the challenges faced by Specialty and Commercial insurers in optimising profitability and making effective pricing decisions. The poll of 350 underwriters and actuaries exposed significant shortcomings in the industry's pricing models ... Read the full article
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