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.
NFP acquires Dublin-Based IHI Group to expand health and insurance offerings in Ireland
17th October 2024
NFP, a subsidiary of Aon and an international insurance brokerage and consultancy, has announced its acquisition of IHI Group, a Dublin-based advisory firm specialising in financial planning, healthcare, and general insurance services. Philip Brennan, CEO of IHI Group, will join NFP as Vice President of Business Development. He, along with Patrick Brennan, ... Read the full article
Cytora partners with Meetrisk to enhance marine insurance risk evaluation
17th October 2024
Cytora, a digital risk processing platform, has teamed up with Meetrisk, a provider of advanced marine risk intelligence. This collaboration integrates Meetrisk's Marine Platform into Cytora's sophisticated underwriting productivity tool, enabling marine insurers to utilise improved resources for accurate risk assessment and management of vessels, fleets, and portfolios. As a result, insurers ... Read the full article
Applied Underwriters Aerospace expands leadership amid market shifts
17th October 2024
Applied Underwriters Aerospace, a division of Applied Underwriters specialising in insurance and risk management for the aerospace and space exploration industries, has expanded its role as the space insurance market experiences significant changes. These shifts, driven by geopolitical factors and technological innovations like those introduced by Elon Musk, position the company ... Read the full article
McLarens names Alistair Jacob Head of London International
16th October 2024
McLarens, a claims services provider, has appointed Alistair Jacob to the newly established position of Head of London International. Based in the Lime Street office in the City of London, Jacob will report to Steven Wallace, Managing Director for EMEA, and will focus on enhancing McLarens’ presence in the Lloyd’s and ... Read the full article
LIMOSS extends McKenzie Intelligence contract to improve cat response capability
16th October 2024
McKenzie Intelligence Services (MIS) and London Market Operations & Strategic Sourcing (LIMOSS) have signed a new contract that will give Lloyd’s Managing Agents and associated company market business greater flexibility to access additional services when adopting MIS’ geospatial intelligence platform in 2025. Since 2020, MIS, a geospatial intelligence provider for the ... Read the full article
CIMA reveals strong growth in the Cayman Islands insurance sector
16th October 2024
Growth continues for the Cayman Islands insurance sector, according to the Cayman Islands Monetary Authority (CIMA) licensing statistics for the third quarter of 2024. During the period of July to September, CIMA granted five new international insurer licences, including three B(i) and two B(iii) licences, which marked sustained progress within the ... Read the full article
Insurance CEOs focus on workforce growth and generative AI: KPMG survey
16th October 2024
CEOs in the insurance industry are optimistic about their companies' growth potential over the next three years, even in the face of challenges related to digital transformation, talent acquisition, and sustainability, according to a survey of 120 leaders from around the globe. The KPMG CEO Outlook, now in its tenth year, ... Read the full article
Insurers boost investments in private markets and clean energy amid political uncertainty: BlackRock
15th October 2024
BlackRock, a global asset management firm, reports that insurers are focusing on increased investments in private markets, clean energy infrastructure, and innovative technology in 2024, according to its 13th annual Global Insurance Report. For the third year in a row, the report shows that a majority of insurers plan to raise ... Read the full article
Matthew Williams named MD of rradar’s new insurance venture rrelentless
15th October 2024
rradar, a UK legal enterprise, has announced the appointment of Matthew Williams as Managing Director (MD) of its newly launched insurance vehicle, rrelentless. By leveraging Williams’ expertise, he will help to drive forward the firm’s strategic growth plans, through providing innovative solutions that help businesses better manage risk in an increasingly ... Read the full article
AXA reports renewed confidence in insurers amid heightened vulnerability
15th October 2024
Global insurer AXA’s Future Risks Report 2024 reveals a heightened sense of vulnerability regarding the risks facing societies; nonetheless, both experts and the general population express renewed confidence in insurers to tackle existing and emerging risks. This study, conducted in partnership with IPSOS, involves data collected and analysed by AXA's dedicated ... Read the full article
Building resilience in APAC through $2 trillion annual infrastructure investment: Swiss Re
15th October 2024
Jimmy Lim, Head of Engineering Underwriting Asia at Swiss Re, stated that the Asian Development Bank estimates the Asia-Pacific (APAC) region needs to invest almost USD 2 trillion each year in infrastructure. This substantial investment is critical to supporting economic growth, addressing poverty, and combating climate change. As Lim states, "This represents ... Read the full article
Employers Holdings names Pedraja as new CFO
14th October 2024
Employers Holdings, Inc., a provider of workers' compensation insurance, has announced the appointment of Michael Pedraja as Executive Vice President and Chief Financial Officer (Designate), effective February 3, 2025. He will assume the role of Executive Vice President and Chief Financial Officer effective on or about March 31, 2025. Pedraja, who has ... Read the full article
Price Forbes Re names Colin Kelley as Chief Commercial Officer
14th October 2024
Price Forbes Re, an independent reinsurance broker, is excited to announce the appointment of Colin Kelley as its new Chief Commercial Officer (CCO), a role specifically created to support the company's expansion. In this position, Kelley will collaborate closely with the insurance, reinsurance, and capital markets teams to craft tailored solutions ... Read the full article
Arc Legal Group names Lee Taylor as new Chief Executive Officer
14th October 2024
Arc Legal Group, a member of the AmTrust Financial Group and a prominent provider of ancillary products and services in the UK, has announced the immediate appointment of Lee Taylor as Chief Executive Officer, pending regulatory approval. With two decades of experience in the specialty insurance and assistance industry, Taylor previously ... Read the full article
Modernisation as the key to effective risk selection and pricing in underwriting: Altus Consulting
11th October 2024
Altus Consulting, a specialist in Financial Services Management Consultancy, has released a whitepaper titled All Aboard for Modernisation: Next Stop Underwriting, which discusses the insurance industry's imminent next phase of modernisation, with underwriting at the centre of this evolution. Despite an estimated £15 billion spent over the past decade on transformation ... Read the full article
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