European insurance companies posted strong results in 1H24, driven by favourable interest rates and pricing cycles, despite varied national trends, according to Fitch Ratings. Most insurers are on track for a solid full-year performance, with interest rate cuts starting and insurance price increases likely having peaked. Underwriting margins in the life insurance sector have benefited […] The post European insurers on track for solid FY24 results despite varied country trends: Fitch appeared first on ReinsuranceNe.ws ..read more

Global insurance and reinsurance broking group Aon has announced that Stephen Hofmann will become U.S. CEO of Reinsurance Solutions for Aon, and Kevin Traetow will serve as U.S. vice chairman of Reinsurance Solutions. In their new respective roles, both Hofmann and Traetow will collaborate closely together to help formulate and boost Aon’s U.S. Reinsurance Solutions […] The post Hofmann becomes US CEO of Aon Reinsurance Solutions, Traetow named US Vice Chairman appeared first on ReinsuranceNe.ws ..read more

Quotech, a developer of integrated technology solutions for underwriting and broking teams, has supplied systems to Volt Underwriting, a new energy-focussed managing general agent (MGA) launched earlier today. From what Reinsurance News understands, Volt has deployed Quotech’s underwriting workbench, Risque, and its exposure management platform, Quex, which was launched in February this year.  Volt Underwriting […] The post New MGA Volt Underwriting deploys Quotech’s underwriting workbench & Quex platform  appeared first on ReinsuranceNe.ws ..read more

Catastrophe risk modeller Moody’s RMS Event Response expects private market insurance industry losses in the US from hurricanes Helene and Milton to fall between $35 billion and $55 billion, although warns of complexities and uncertainties surrounding loss estimates given the overlapping regions affected by the two storms. Helene and Milton, the fourth and fifth hurricanes […] The post Helene & Milton combined insured loss seen at up to $55bn by Moody’s RMS Event Response appeared first on ReinsuranceNe.ws ..read more

Nearmap, a location intelligence and aerial imagery solutions provider, has completed an asset purchase agreement with Tensorflight. Tensorflight is the first property-inspection platform based on convolutional neural networks, offering underwriters and insurers access to detailed and accurate datasets for commercial properties, enabling them to develop better insurance products. Nearmap will acquire Tensorflight’s assets and collaborate […] The post Nearmap finalises asset purchase agreement for Tensorflight appeared first on ReinsuranceNe.ws ..read more

Third quarter catastrophe bond and related insurance-linked securities (ILS) issuance was muted at $573 million, but sufficient to take issuance for the first nine months of the year to a new high of $13.2 billion, according to Artemis. Now available to download for free, the Artemis Q3 2024 cat bond and related ILS market report […] The post A quiet Q3, but 9M 2024 catastrophe bond issuance hits $13.2 billion: Report appeared first on ReinsuranceNe.ws ..read more

Employers Holdings, Inc., a provider of workers’ compensation insurance, has announced the appointment of Michael Pedraja as Executive Vice President and Chief Financial Officer (Designate), effective February 3, 2025. He will assume the role of Executive Vice President and Chief Financial Officer effective on or about March 31, 2025. Pedraja, who has over three decades […] The post Employers Holdings names Pedraja as new CFO appeared first on ReinsuranceNe.ws ..read more

Employers Holdings, Inc., a provider of workers’ compensation insurance, has announced the appointment of Michael Pedraja as Executive Vice President and Chief Financial Officer (Designate), effective February 3, 2025. He will assume the role of Executive Vice President and Chief Financial Officer effective on or about March 31, 2025. Pedraja, who has over three decades […] The post Pedraja to succeed Paquette as Employers Holdings CFO appeared first on ReinsuranceNe.ws ..read more

African Development Bank Group’s Board of Directors has approved $34.8 million, ($34,796,402.40) in grants to enhance resilience and adaptation to climate disaster risks for vulnerable communities in Malawi and Zimbabwe. Under the Bank Group’s Africa Disaster Risk Financing (ADRiFi) initiative, the Mitigating Fragility through the Africa Disaster Risk Financing Programme in Southern Africa Project will […] The post African Development Bank approves $34.8m grants for Malawi & Zimbabwe’s climate resilience appeared first on ReinsuranceNe.ws ..read more

Global specialty re/insurance group Chaucer has announced the appointment of marine insurance specialist Nicola Miles as Class Underwriter Ports and Terminals. Miles joins the Marine team reporting to James Irvine, Leader of Global Hull Lines, and will be working closely with Class Underwriter Ports and Terminals, Graham Harrison. Simon Schnorr, Chaucer’s Head of Marine & […] The post Chaucer names Nicola Miles Ports & Terminals Class Underwriter appeared first on ReinsuranceNe.ws ..read more