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.
Tokio Marine HCC boosts UK trade credit division with two major promotions
8th August 2024
Tokio Marine HCC, a global insurance group based in Houston, Texas, and part of the Tokio Marine Group, one of Japan's largest and oldest insurance companies, has announced two significant promotions within its UK Trade Credit Division. Fiona O’Brien has been elevated to Credit Risk Underwriting Manager, and Will O’Brien has ... Read the full article
Arden Insurance Services and Green Shield Risk Solutions partner to mitigate wildfire risk
8th August 2024
Arden Insurance Services LLC, an MGA focused on insurance for residential condominium associations, has teamed up with Green Shield Risk Solutions, a catastrophe risk mitigation specialist based in Chicago, to tackle the increasing wildfire threat. This partnership aligns with Arden’s technology-driven approach, utilising advanced data and analytics to thoroughly assess risks ... Read the full article
Heritage Insurance reports improved CoR in Q2’24 as GWP rise 7.1%
7th August 2024
Super-regional P&C insurance holding company, Heritage Insurance Holdings, Inc., has reported a year-on-year improvement in its second second quarter 2024 combined ratio to 92.5% from 95.1%, as net income more than doubled in the period. The firm's strong Q2'24 results includes gross premiums written (GPW) of $424.5 million, an increase of ... Read the full article
Howden partners with Ultimate Risk Solutions to enhance risk management capabilities
7th August 2024
Global insurance intermediary group Howden has strategically partnered with Ultimate Risk Solutions (URS) to utilise their advanced risk-management suite, encompassing economic and regulatory capital management, asset modelling, enterprise risk management (ERM), reserving, and price optimisation. Alex Bushel, Founder and Chief Executive Officer, URS, commented: "Our partnership with Howden is further evidence ... Read the full article
Ryan Specialty and MagMutual enter exclusive partnership for healthcare facility coverage
7th August 2024
Ryan Specialty, an international specialty insurance company, has entered into a new exclusive partnership with MagMutual, the mutual insurer of physicians and hospitals in the US. This collaboration will be managed through Sapphire Blue, known for its advanced solutions for complex healthcare risks, and is part of Ryan Specialty's underwriting division, ... Read the full article
Janover’s new insurtech platform hits profitability and boosts revenue by 60% in May
7th August 2024
Janover Inc., a provider of AI-powered solutions for commercial real estate transactions, has recently shared an update on its insurtech subsidiary, Janover Insurance Group. Launched in March 2024, Janover Insurance achieved profitability by May 2024. During that period, its monthly recurring revenue increased by more than 60% compared ... Read the full article
At-Bay names AIG’s Ken Riegler as President, At-Bay Insurance
6th August 2024
Cyber insurance provider At-Bay has appointed Ken Riegler as President of At-Bay Insurance and to the Board of Directors of At-Bay Specialty Insurance Company, its Excess & Surplus (E&S) carrier. In this role, Riegler's remit is focused on accelerating At-Bay's growth in E&S insurance and fostering relationships with broker partners and ... Read the full article
Hull and Machinery insurance has remained relatively static in H1 2024: Gallagher Specialty
6th August 2024
The Hull and Machinery insurance market has remained relatively static in the first half of 2024, according to analysts at Gallagher Specialty, who have also noted the looming possibility of a slight softening as the year goes on. The market has seen some new entrants, most notably in the MGA space, ... Read the full article
Emerald Bay and Curotech Specialty launch new commercial property programme
5th August 2024
Emerald Bay Risk Solutions, a cooperative underwriting carrier, has announced a strategic alliance with Curotech Specialty, a technology-driven managing general agent, to launch an excess and surplus commercial property programme. The programme is reinsured by a group of leading companies, all of which hold an A- or higher rating from AM ... Read the full article
CyberCube products licensed by EBM Insurance & Risk for enhanced client placement
5th August 2024
EBM Insurance & Risk, an Australian privately owned insurance broker, has announced a strategic partnership with CyberCube, a provider of cyber risk analytics. Through this partnership, EBM will implement CyberCube's Broking Manager and Prep Module, improving its cyber risk assessment and management capabilities for businesses locally and globally. Founded in Western Australia ... Read the full article
Arch Insurance International promotes Marie Penberthy to CFO
5th August 2024
Arch Insurance International, part of Bermuda-based re/insurer Arch Capital Group Ltd., has promoted Marie Penberthy to Chief Financial Officer (CFO), subject to regulatory approval. Penberthy will be based in London, reporting to Hugh Sturgess, President and Chief Executive Officer (CEO) of Arch Insurance International. Her appointment aligns with Arch’s succession planning strategy ... Read the full article
AIG expects 2025 CoR to be the same or lower than in 2023: CEO Zaffino
2nd August 2024
Global insurer AIG expects its 2025 calendar year combined ratio to come in the same or lower than the one reported in 2023, mainly as the result of actions taken as part of its AIG Next reorganization and expense reduction program. This news follows the insurer’s release of its second ... Read the full article
wefox completes two transactions to exit the German insurance market
2nd August 2024
InsurTech wefox has successfully completed two transactions to exit the German insurance market, aligning with the company's strategy to focus on profitable market positions of critical size If you recall, wefox's plans to exit the German market were announced in early July. It was revealed that wefox will only focus on ... Read the full article
Final agreement reached for Ryan Specialty to acquire US Assure
2nd August 2024
Ryan Specialty, an international specialty insurance intermediary, has announced a definitive agreement to acquire US Assure Insurance Services of Florida, Inc., a Jacksonville-based specialist in builder's risk insurance that will be integrated into Ryan Specialty's Underwriting Managers Specialty division. Founded in 1977, US Assure is a trusted name in the small ... Read the full article
Orion180 introduces homeowners insurance services in Ohio
2nd August 2024
The insurance company Orion180 is thrilled to announce its expansion into Ohio, bringing its specialised homeowners coverage to eight states, including three new ones added in the first half of 2024. With the addition of Ohio through Orion Select Insurance Co., Orion180’s licensed insurance provider, homeowners in the state can now ... Read the full article
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