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.
Alexandros Ampatzis named Head of Marine for Asia-Pacific at Tokio Marine Kiln
31st October 2024
Tokio Marine Kiln (TMK), an international insurer specialising in niche insurance and reinsurance, recently announced the appointment of Alexandros Ampatzis as Head of Marine for the Asia-Pacific (APAC) region, effective November 1, 2024. Ampatzis will report to Jamie Tang, TMK’s Regional Underwriting Director for APAC. He is a seasoned expert in marine ... Read the full article
Concirrus introduces Aviation Aggregations module to address underwriters’ challenges
30th October 2024
Aviation underwriters are encountering increased challenges in accurately assessing risk exposure and managing portfolios, prompting a pressing need for real-time data insights and advanced tools, which Concirrus, an insurtech innovator, has addressed with the release of its Aviation Aggregations module. As part of Concirrus’s broader Aviation platform, this new module enables ... Read the full article
Buyer-friendly market opens opportunities for year-end renewals: Aon’s Peiser
30th October 2024
Buyer-friendly conditions in the global insurance market have persisted through much of the third quarter of 2024, and even accelerated in some segments, creating opportunities as the year-end renewals draw near, Joe Peiser, Chief Executive Officer Commercial Risk Solutions, Aon, has noted. Insurer confidence and growth appetite have been restored over ... Read the full article
Falcon Risk Services and ArxNimbus collaborate to transform cyber risk quantification
30th October 2024
Falcon Risk Services, a majority-owned MGA under HDI Global Specialty, which is a subsidiary of HDI Global SE, has partnered with ArxNimbus, a company in cybersecurity risk management, to reshape the approach to cyber risk quantification. This collaboration merges Falcon Risk Services' broad insurance expertise with ArxNimbus' advanced actuarial-based cyber risk ... Read the full article
WTW launches ResQ Machine-led Reserving for enhanced P&C accuracy and efficiency
29th October 2024
WTW, an advisory, broking, and solutions firm, has introduced ResQ Machine-led Reserving—a transformative technology designed to help insurers and reinsurers improve accuracy and efficiency in property and casualty (P&C) reserving. ResQ Machine-led Reserving leverages proprietary algorithms to enhance the core reserving methods in ResQ, WTW’s advanced loss-reserving solution, delivering fully automated, ... Read the full article
Hiscox reports two-thirds of organisations face increased cyber incidents
29th October 2024
Specialist insurer Hiscox recently released findings from their annual Cyber Readiness Report, which reveals that two-thirds of organisations (67% globally and 70% in the UK) have faced more cyber incidents in the past year compared to the previous year. As cyber attacks continue to increase, the reputation and trust in businesses ... Read the full article
Insuritas adds Disaster Insurance to its platform with Recoop partnership
29th October 2024
Insuritas, an US embedded insurance provider for financial institutions, has partnered with Recoop Disaster Insurance to add Disaster Insurance into its platform. Through this strategic partnership, Recoop's multi-peril disaster insurance product will be integrated into Insuritas' BUNDLE platform. This integration will offer financial institution customers of Insuritas with expanded opportunities to ... Read the full article
Alex Dalton named MD of ViVet, strengthening leadership at Else Group
28th October 2024
Else Group, a company specialising in insurance solutions, and ViVet, its UK-based Managing General Agent (MGA) and Lloyd’s Coverholder, are pleased to announce the appointment of Alex Dalton as Managing Director of ViVet. Through this appointment, ViVet aims to enhance its market reach and expand its client offerings across the UK ... Read the full article
TIH announces leadership transition as Dave Obenauer becomes CEO
28th October 2024
TIH, a US insurance brokerage, announced that its President, Dave Obenauer, will step into the role as Chief Executive Officer, effective January 1, 2025, with current CEO John Howard transitioning to Vice Chair. Obenauer, who has been with TIH since 2007 following the acquisition of a predecessor company, brings over 35 ... Read the full article
Climate risk drives up property insurance prices, impacting commercial real estate: Report
28th October 2024
Reinsurance costs, persistent inflation, regulations, and frequent weather-related claims are driving up property insurance prices, affecting commercial real estate returns, valuations, and transactions, according to a Urban Land Institute (ULI) and Heitman report. According to research, rising insurance costs are squeezing property owners, leading to lower net operating incomes and, in ... Read the full article
Fannie Mae’s $338.6m credit insurance risk transfer with 26 re/insurers
25th October 2024
Fannie Mae, a government-sponsored enterprise (GSE), has announced that 26 re/insurers are supporting its seventh Credit Insurance Risk Transfer transaction of the year, CIRT 2024-L4, which effectively transferred $338.6 million in mortgage credit risk. This transaction allows for faster release of coverage under updated terms if the covered loan pool performs ... Read the full article
Key actions for insurers ahead of new PRA Solvent Exit Planning requirements: Broadstone
25th October 2024
Broadstone, an independent financial services consultancy, has outlined four essential steps for insurers preparing for the Prudential Regulation Authority (PRA)’s new guidelines on Solvent Exit Planning. On January 23, 2024, the PRA released a consultation (CP2/24) setting out its updated expectations for insurers’ solvent exit planning. This guidance is designed to improve ... Read the full article
Donegal Insurance Group partners with ZestyAI for property risk assessment solution
25th October 2024
Donegal Insurance Group has partnered with ZestyAI, a climate and property risk analytics solutions provider, to utilise its new AI-powered solution to enhance property risk assessment by accurately determining roof age across the US. Through the project, Donegal will utilise ZestyAI’s Roof Age solution to fill in the missing roof age ... Read the full article
Leaders keen for in-person collaboration, but also see hybrid working advantages: KPMG UK
25th October 2024
insurance, asset and wealth management and private equity - are planning to increase office attendance in the next 12 months, according to a new KPMG UK research. Of those planning to increase attendance, more than a third (37%) expect employees to be in the office at least four days a week, ... Read the full article
P&I clubs expected to raise rates by 5% amid rising claims in 2025: S&P
25th October 2024
S&P Global Ratings, a provider of credit ratings, research, and analytics, forecasts that most Protection and Indemnity (P&I) clubs will achieve near-breakeven results for the financial year ending February 20, 2025. The 12 P&I clubs in the International Group (IG), which collectively underwrite approximately 90% of the global oceangoing fleet's liability ... Read the full article
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