Reinsurance News


Moody’s downgrades Nationwide P&C financial strength

13th November 2023

Moody’s has downgraded the Nationwide Mutual Insurance Company (NMIC) and its property & casualty affiliates, Nationwide P&C, insurance financial strength rating to A2 from A1, and downgraded NMIC’s surplus notes rating to Baa1 (hyb) from A3 (hyb). The rating agency has also affirmed the insurance financial strength ratings of Nationwide Life ... Read the full article

Nationwide to go through re-underwriting initiatives to further improve its book

13th June 2023

The specific business actions U.S. insurer Nationwide is taking as it looks to address current issues impacting the insurance industry, includes some re-underwriting initiatives within its small commercial and personal lines portfolios, as the carrier works to improve its book overall. We wrote yesterday that Nationwide was the latest U.S. ... Read the full article

Nationwide taking action to mitigate risk in personal and commercial lines portfolios

12th June 2023

Large U.S. insurer Nationwide Mutual Insurance has announced that it is taking "specific business actions" in an effort to mitigate risk and manage its personal and commercial lines portfolios, citing the economic landscape, inflation, and catastrophic weather events. The insurer notes that these actions are impacting the entire insurance industry, and ... Read the full article

Kevin Strong named new N2G CEO

11th April 2023

N2G Worldwide Insurance Services, LLC has hired Kevin Strong, former Head of Multinational Business of The Hartford, as its new CEO, replacing retiring Bill Skapof, who led N2G since its foundation in 2020. Strong has over two decades of industry experience, having most recently served as Head of Multinational at The ... Read the full article

Nationwide names Hespe Head of Underwriting Performance for E&S/Specialty

17th August 2022

Ohio-based insurer Nationwide has appointed Julie Hespe as the head of Underwriting Performance for the company’s Excess & Surplus/Specialty team. Hespe’s team - the Underwriting & Product Performance Center of Excellence, will have a direct focus on portfolio profitability, underwriting governance and best practices, product management strategy, regulatory compliance and performance. Hespe ... Read the full article

Ryan Specialty and Nationwide partner to support specialty insurance marketplace

26th April 2022

International specialty insurance firm, Ryan Specialty has announced a new strategic arrangement with US based Nationwide to support innovation and address needs in the specialty insurance marketplace. Both companies remain parties to a joint venture first entered into in May 2019, that established Bermuda-based reinsurer – Geneve Re Ltd.  This new ... Read the full article

Nationwide names Tim Frommeyer as CFO

23rd June 2021

Ohio-based insurer Nationwide has appointed Tim Frommeyer as Chief Financial Officer (CFO) and also added him to the Nationwide executive leadership team. Frommeyer joined Nationwide 1986 and has held multiple senior positions including chief actuary for financial services, CFO for that organisation, and most recently as CFO for both financial services ... Read the full article

Nationwide completes transition to independent agency model

1st July 2020

Ohio-based insurer Nationwide has completed its 18-month transition to operate as a fully independent agency carrier. More than 99% of the company’s formerly captive agents will transition to Nationwide’s independent agency channel and continue partnering with the company. “Despite the challenges associated with the COVID-19 crisis, we’ve made tremendous progress in transforming ... Read the full article

Nationwide to permanently transition to hybrid (office/remote) operating model

30th April 2020

Ohio-based insurer Nationwide has revealed plans to permanently transition to a new hybrid operating model, which includes primarily working-from-office in four main corporate campuses and working-from-home in the majority of other locations. Like many other businesses in many parts of the world, in mid-March, Nationwide moved to a work-from-home business model ... Read the full article

Falvey expands capacity via Nationwide partnership

6th April 2020

Falvey Cargo Underwriting and Falvey Shippers Insurance have expanded capacity by partnering with Nationwide Mutual Insurance Company (Nationwide). The partnership will allow Falvey to continue to increase its capacity while providing flexible cargo solutions. All new accounts underwritten April 1, 2020 forward, will be quoted including Falvey's Nationwide facility. In addition, Nationwide will ... Read the full article

Nationwide, Generali announce joint venture

26th February 2020

US-based insurance and financial services provider Nationwide is partnering with Generali on a joint venture aimed at supporting multinational solutions for international commercial clients. N2G Worldwide Insurance Services, LLC will exclusively promote, distribute and administer insurance solutions for multi-national exposures on behalf of both organisations. Business to N2G will be sourced through ... Read the full article

State Farm & Berkshire maintain status as top US P&C insurers

24th October 2019

State Farm and Berkshire Hathaway Specialty Insurance maintained their spots as the largest and second-largest U.S. Property and Casualty (P&C) writers in 2018, respectively, while Chubb INA Group entered the top ten. This is according to the Reinsurance News directory of the Top 100 U.S. P&C ... Read the full article

Ryan Specialty Group, Nationwide launch Bermuda reinsurer, Geneva Re

7th May 2019

Ryan Specialty Group (RSG) has entered into a strategic partnership with US based Nationwide, which includes the establishment of a new Bermuda-based reinsurance company, called Geneva Re Ltd. Nationwide is set to own 50% of the new reinsurer, with RSG and RSG-related investors owning the remaining 50%. Michael D. O’Halleran has been ... Read the full article