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.
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
Tight underwriting standards strain insurer-agent relationship despite high satisfaction: J.D. Power
4th October 2024
Independent insurance agents' satisfaction with personal and commercial lines insurers has held strong despite a challenging environment, yet tighter underwriting standards strain their relationship with insurers, a J.D. Power study has found. According to the J.D. Power 2024 U.S. Independent Agent Satisfaction Study, “overall agent satisfaction with insurers of both personal ... Read the full article
AXA Climate introduces new Altitude platform to aid business adaptation to climate change
4th October 2024
AXA Climate, a division of the global insurance group AXA, has launched Altitude, an innovative platform aimed at helping businesses measure the impact of climate risks, create effective adaptation strategies, and comply with the Corporate Sustainability Reporting Directive (CSRD). According to Théophile Bellouard, Director of Altitude by AXA Climate, the platform ... Read the full article
AM Specialty backs new pet insurance solution
3rd October 2024
AM Specialty Insurance Company (ASIC), a provider of specialised insurance products, and Swain & Baldwin Insurance & Risk Management, an independent agency with over 65 years of experience, are excited to announce the launch of the PawPro Pet Insurance Program—a comprehensive solution tailored for renters with pets. Initially available in Texas, ... Read the full article
Lucy Clarke elected President of the Insurance Institute of London for 2024-25
3rd October 2024
The Insurance Institute of London, a professional organisation for insurance and risk management professionals, has announced Lucy Clarke as its President for 2024-25. Clarke joined WTW in 2024, bringing with her more than 25 years of industry expertise, with a strong emphasis on delivering top-tier client service, specialising in complex insurance ... Read the full article
Barbara Miller appointed Head of Broker Engagement at Broker Insights
2nd October 2024
Broker Insights, a data and distribution platform linking UK insurance brokers with insurance companies, has named Barbara Miller as the Head of Broker Engagement, a newly established role. Miller brings two decades of experience in financial services and IT, having also led her own sales and marketing business for insurance brokers. Most ... Read the full article
Lockton launches dedicated Offshore Projects Practice
2nd October 2024
Independent insurance broker Lockton has launched a new dedicated Offshore Projects Practice to navigate complex Energy, Marine and Power risks, to be headed by Jack Swift, David Vajnai and Alex Morgan. The offshore industry faces challenges in securing capital and insurance due to the costly claims profile of offshore wind and ... Read the full article
US insurers face declining income from private equity despite growth in holdings: AM Best
2nd October 2024
US insurers saw a second consecutive year of declining income from their private equity investments, which fell to $7.7 billion in 2023, down from $10.2 billion in 2022, according to AM Best, the credit rating agency. A recent Best’s Special Report highlights that US insurers’ private equity holdings grew by 10.8%, ... Read the full article
Markel strengthens International Casualty Portfolio with key leadership appointments
2nd October 2024
Markel, the insurance division of Markel Group Inc., has made three significant appointments as part of its strategy to expand its International Casualty portfolio and enhance its Wholesale Claims service for broker partners. Lauren Percival has been named Executive Underwriter – General Liability. In her new position, she will collaborate with ... Read the full article
Jefferies predicts strong growth in ILS market, doubling to $200bn 2032
1st October 2024
Jefferies, a global investment banking firm, forecasts a significant rebound in the Insurance-Linked Securities (ILS) market, with CAT bond issuance expected to grow in 2023-2024 and expand into other ILS vehicles by 2025. The firm anticipates the ILS market could double from approximately $100 billion to $200 billion by 2032. This growth ... Read the full article
LCP reveals 198% own funds ratio amid evolving market risks in insurance sector
1st October 2024
LCP (Lane Clark & Peacock), a consultancy firm specialising in actuarial, investment, and insurance services, has reported another robust financial year for the insurance market, despite the challenges posed by increasing risks. Their eighth annual review of Solvency II, which examines data from 100 of the largest non-life insurers in the ... Read the full article
Despite Budget concerns, leaders remain bullish on business outlook for Q4: KPMG
1st October 2024
In anticipation of the Chancellor's forthcoming Budget, three quarters of financial services leaders foresee a moderate or greater impact on their operations, over a quarter expect the impact will be significant, but business outlook remains optimistic, a KPMG survey has found. KPMG’s latest UK Financial Services Sentiment Survey is a quarterly ... Read the full article
Arch Insurance International announces leadership promotions in executive assurance
30th September 2024
Arch Insurance International, a provider of specialty insurance products, has announced the promotion of Maggie Munns to Head of Executive Assurance and Matthew Doherty to Director of Underwriting, Executive Assurance, both effective immediately. Munns will be responsible for overseeing the underwriting operations for the Executive Assurance division, which includes Commercial D&O, ... Read the full article
Specialty MGA Africa & Middle East opens Casablanca office to expand regional services
30th September 2024
Specialty MGA Africa & Middle East, a new provider of tailored insurance and reinsurance solutions, has opened an office in Casablanca following approval from the Moroccan Minister of Finance. This new office aims to offer the region increased capacity for specialty lines of business and difficult-to-insure risks. Specialty MGA Africa & Middle ... Read the full article
Miller strengthens Sports and Entertainment division with senior hire
30th September 2024
Miller, an independent re/insurance broker, has announced the appointment of David Randle as Head of Commercial Business Development for its Sports and Entertainment division, who will report to Tim Nagle, Head of Sports at Miller. With over 40 years of experience in the insurance sector, Randle has a strong background in ... Read the full article
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