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.
Navigators & General to be acquired by Geo Underwriting
1st August 2024
Geo Underwriting, a division of Ardonagh Advisory that offers diverse insurance solutions, plans to acquire Navigators & General (N&G), a marine insurance provider, from Zurich UK. Established in 1921 by Captain William Coombs, a WWI Veteran and Merchant Navy officer. N&G provides insurance coverage for a range of boats and vessels, as ... Read the full article
Joe Boren to chair Mosaic Insurance’s new advisory board
1st August 2024
Global specialty insurer Mosaic Insurance has named Joe Boren as Chair of a new advisory board to drive strategic growth, especially across North America. Boren's remit will be helping the firm identify other key industry individuals to build out the new advisory group, mandated to focus on market engagement, innovation, strategy, ... Read the full article
Insurers to benefit from Ivans enhanced Distribution Platform
1st August 2024
Ivans, a division of Applied Systems, has announced the latest release of Ivans Distribution Platform, which has enhanced carrier dashboards that increase visibility into agency submission trends and growth opportunities. The Distribution Platform provides carrier connectivity to agency-facing systems for commercial lines quoting and submissions. Specifically agency-specific submission data, including lines ... Read the full article
Arch Capital’s underwriting income up 26% in Q2’24
31st July 2024
Bermuda-headquartered insurer and reinsurer Arch Capital Group Ltd. has reported strong group-wide underwriting income growth of 25.7% for Q2 2024 to $762 million, compared with $606 million in Q2 2023, driven by an improved underwriting performance in its reinsurance division. Group-wide, gross premiums written (GPW) were $5.4 billion for the quarter, ... Read the full article
New Zealand insurance industry set to go through transformation period following NHI Act implementation
31st July 2024
New Zealand insurance carriers need to update their claims handling processes and ensure their staff are trained accordingly in order to adapt to the changes brought by the implementation of the Natural Hazards Insurance Act 2023 (NHI Act). Gallagher Bassett has prioritised training and upskilling its staff to ensure they are ... Read the full article
Number of re/insurance companies based at the DIFC grows 14% in H1’24
30th July 2024
The number of insurance and reinsurance companies based in the Dubai International Financial Centre (DIFC) has grown to 125 companies, up from 110, the centre has reported in its results for the first half of 2024. An international financial hub in the Middle East, Africa and South Asia (MEASA), Dubai-based DIFC ... Read the full article
Karma Wallet and Palomar jointly launch new card to help insurance claims
30th July 2024
Karma Wallet, a financial platform dedicated to sustainability and social impact, has strategically partnered up with Palomar, an innovative specialty insurer serving residential and commercial clients to launch Karma Wallet Card. The card aims to provide customers with the benefit of greater financial security through an innovative insurance coverage capability provided ... Read the full article
Renewable energy sector shows resilience and optimism in 2024 despite challenges: WTW
30th July 2024
Resilience and optimism is what has characterised the renewable energy sector, despite climate issues, supply chain disruption, casualty deterioration, social inflation and geopolitical conflicts, according to a recent report by WTW. However, overall profitability remains challenging due to variable results within energy classes, analysts warn. So far, 2024 is proving to be ... Read the full article
Aviva and Greggs Pension Scheme finalise £100 million buy-in
30th July 2024
Greggs plc Pension Trustees Limited, the Trustee of the Greggs plc 1978 Retirement and Death Benefit Scheme, has completed a £100 million bulk annuity agreement with Aviva, an insurance and financial services provider, which covers most of the Scheme’s liabilities. To support this buy-in and improve the long-term security of member ... Read the full article
Gallagher expands European cyber leadership with latest senior hire
30th July 2024
Gallagher has appointed Aldo Borsani as the Head of Cyber for Europe, where he will enhance the insurance and reinsurance broker's products and services, collaborate with existing clients and teams across Europe, and lead new business growth. Borsani brings nearly ten years of experience from Chubb, where he most recently served ... Read the full article
RSA Insurance announces Damian Cannings as Bristol Regional Manager
30th July 2024
RSA Insurance, a global insurer, is pleased to announce the immediate appointment of Damian Cannings as the new Regional Manager for Bristol. Damian will report to Deena Hemming, Trading Director - South, and will spearhead initiatives to increase the company's presence and activity in the region. He will also strengthen the team's ... Read the full article
NTT DATA UK&I and iPipeline collaborate to drive growth in the UK and Europe
30th July 2024
NTT DATA UK&I, an IT services provider and consultant for the insurance industry, has announced a new partnership with iPipeline, a provider of digital solutions for the life insurance, pensions, savings, and investments markets in the UK. This partnership will enable NTT DATA to offer additional expertise and resources, enhancing iPipeline’s ... Read the full article
SiriusPoint forms new strategic partnership with Hellenic Hull
29th July 2024
SiriusPoint Ltd., a global insurer and reinsurer specialising in niche markets, and Hellenic Hull Management (HMA), a marine hull and machinery underwriter in Greece and Cyprus, have announced a strategic partnership. HMA has been influential in the Greek and Cypriot shipping sectors for the past 30 years. It is noteworthy for ... Read the full article
Resilience appoints Killian Brady as Chief Underwriting Officer
29th July 2024
Resilience, a cyber risk company, has appointed Killian Brady as its new Chief Underwriting Officer, responsible for overseeing all underwriting activities for the company's expanding portfolio that includes middle market and large enterprise clients in the Cyber and Tech E&O sectors. He will also continue his duties as Chief Operating Officer ... Read the full article
IUA welcomes three new companies as London insurance market expands
29th July 2024
Three new companies have recently become members of the International Underwriting Association (IUA), a trade organisation representing the London insurance market, highlighting the continued expansion of the industry. The IUA now represents 81 firms, more than double the number from a decade ago. According to recent data, the London insurance market ... Read the full article
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