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.
Resilience in Florida’s property insurance market amid hurricane challenges
11th October 2024
After Hurricanes Helene and Milton made landfall along Florida’s coast, Insurance Commissioner Michael Yaworsky shared encouraging updates regarding the state’s property insurance market. Recent announcements from Progressive, State Farm, and the approval of several new property insurers highlight the positive impact of Florida’s major 2023 reforms. Despite scaling back operations in other ... Read the full article
AXIS Capital introduces new leadership for its Irish legal entities
10th October 2024
AXIS Capital Holdings Limited, a provider of specialty insurance and reinsurance solutions, has announced new leadership appointments for its Irish legal entities, AXIS Re SE and AXIS Specialty Europe SE, both based in Ireland and regulated by the Central Bank of Ireland. Offering a wide range of products to help businesses ... Read the full article
Starwind Specialty Insurance Services introduces environmental unit headed by Mike Padula
10th October 2024
Starwind Specialty Insurance Services, a division of CRC Group, has introduced a new environmental unit, which will be led by Mike Padula. In this position, Padula will oversee the creation of a comprehensive range of environmental products, positioning Starwind to stay ahead of industry trends and maintain its competitive edge. "Bringing Mike ... Read the full article
WTW and Keylane partner for faster and innovative insurance pricing
10th October 2024
Global insurance broker WTW and Keylane, a policy administration system provider in the Netherlands, have partnered to help insurers enhance their real-time pricing and speed to market. According to the announcement, this collaboration will help to ensure competitive advantage through more effective pricing strategies. Keylane will join WTW’s Insurance Technology Partner Network, ... Read the full article
Growing financial protection pre-arranged financing reaches USD 9.8 Billion in 2023: report
10th October 2024
The Centre for Disaster Protection, an organisation focused on enhancing financial support and preparedness for disaster response in low- and middle-income countries, presents its latest annual report, The State of Pre-arranged Financing for Disasters 2024, which offers valuable insights into the initiatives of international development donors to improve financial mechanisms ... Read the full article
WTW report highlights stability in North American commercial insurance rates
9th October 2024
According to the latest Insurance Marketplace Realities report from WTW, an advisory, broking, and solutions firm, commercial insurance rates have maintained steadiness and balance throughout the year across North America. WTW notes that new capital entering both the reinsurance and retail markets has intensified competition for premium market share, except in ... Read the full article
Hurricane Milton threatens tens of billions in insured losses, reinsurers also to be impacted: RBC Capital Markets
9th October 2024
With its projected path and intensity, Hurricane Milton has the potential to become one of the most expensive storms to hit Florida, analysts at RBC Capital Markets, the investment banking arm of Royal Bank of Canada, predict. Currently, Hurricane Milton remains a Category 4 storm within the Gulf of Mexico, having ... Read the full article
UK businesses cite economic risks and cybercrime as top 2024 concerns: Marsh McLennan
9th October 2024
According to new research from Marsh McLennan, a professional services firm focused on risk, strategy, and people management, the primary concerns for UK businesses over the next 12 months are economic and financial challenges (43%), cyber threats (39%), and people-related risks (38%). These insights are drawn from Marsh McLennan’s UK Business ... Read the full article
AEGIS Miner Rescue Consortium launches $25m miner rescue insurance product
9th October 2024
AEGIS London-led Lloyd’s consortium has launched a $25 million insurance product to cover the rescue of miners trapped underground, doubling its available cover from $10 million. The AEGIS Miner Rescue Consortium, is predominantly for hard rock and precious metal mines, both open cast and underground, with a focus on Australia, Canada, ... Read the full article
AdvantageGo partners with Insurants to improve data transformation capabilities
8th October 2024
AdvantageGo, a global commercial re/insurance software provider, has created an Ecosystem Alliance with Insurants, a document processing solution for global insurance companies. Leveraging the capabilities of artificial intelligence (AI), this partnership empowers AdvantageGo's Underwriting Workbench with advanced data transformation capabilities. Insurants, powered by AntWorks, tackles the growing volume and complexity of data ... Read the full article
Peter Brooks named Global Head of Fine Art & Specie at Arch Insurance International
8th October 2024
Arch Insurance International, a division of Arch Capital Group, has promoted Peter Brooks to Global Head of Fine Art & Specie, effective immediately. In this new position, Brooks will oversee the Fine Art & Specie insurance portfolio within the London Market and work across Arch’s various underwriting platforms to broaden its ... Read the full article
Offshore renewable energy insurance premiums set to remain low amid soft market: NARDAC
8th October 2024
NARDAC, an energy and infrastructure insurance broker and Managing General Agent (MGA), has reported that insurance premiums for offshore renewable energy and infrastructure projects are expected to remain low for the next two to three years, extending the "soft market" conditions that began in 2023 across several insurance sectors, concluding ... Read the full article
$17m Series B funding secured and Anthony Segal-Knowles named as CFO at Ledgebrook
8th October 2024
Ledgebrook, an insurtech company, is pleased to announce the successful completion of a $17 million Series B funding round. This strategic raise brings two distinguished Family Offices onto Ledgebrook’s cap table: Duquesne (which led the round) and The Stephens Group, alongside continued support from long-time partners Brand Foundry Ventures and American ... Read the full article
Sasria considers expanding coverage to include natural disasters and climate risks
8th October 2024
The SA Special Risk Insurance Association (Sasria) is exploring the expansion of its coverage options to include climate, severe weather, as well as cyber risks. Sasria is a state-owned non-life insurer that provides special risk cover - including civil commotion, public disorder, strikes, riots and terrorism - to all individuals and ... Read the full article
FTI Consulting expands Global Insurance Services with Maria Filipakis as Senior Managing Director
7th October 2024
FTI Consulting, Inc., a business advisory firm, has announced the expansion of its Global Insurance Services practice with the appointment of Maria Filipakis as a Senior Managing Director in the company’s Forensic and Litigation Consulting segment. Filipakis, based in New York, brings extensive expertise across the insurance, cryptocurrency, cybersecurity, and financial ... Read the full article
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