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Northern Re, a specialty reinsurance group focused on high-frequency, low-severity property and casualty portfolios, has announced that its in-force premium has surpassed $1 billion. Northern Re has participated in more than 100 bespoke reinsurance contracts across treaty, legacy and whole-account solutions since commencing underwriting in January 2023. Committed capital has increased from $25 million to…
Liberty Specialty Markets, part of Liberty Mutual Insurance Group, has announced the appointment of Mylène Martin-Ahmine as Chief Operating Officer (COO), Liberty Europe. As a key member of the Liberty Operations and the Liberty Europe Leadership Team, Martin-Ahmine will be responsible for driving operational excellence across the Europe region, with a focus on greater consistency,…
The SEADRIF Insurance Company has made payouts totalling US$1,137,500 to the Government of Lao PDR and the United Nations World Food Programme (WFP), following severe flooding that triggered both the country’s two-year parametric sovereign policy and WFP’s disaster resilience policy. The funding was triggered after intense southwest monsoon activity and low-pressure systems caused widespread flooding…
Vantage Group Holdings Ltd. (Vantage), a specialty insurance and reinsurance business, has appointed Tim Nunziata as Head of Cyber Insurance and Global Product Leader. In his new role, Nunziata reports to Alex Blanco, Chief Executive, Insurance, and joins the Vantage insurance leadership team. He is responsible for the global cyber product strategy, underwriting guidelines, and…
While discussions around pricing and rate adequacy are important, Tom Wakefield, Global Chief Executive Officer (CEO) of Gallagher Re, has said that in the reinsurance broker’s view, the most important conversations as the market heads to Monte Carlo are around the increased volume of capital and choice now available to buyers. Speaking this afternoon during…
Moody’s Ratings has maintained its stable outlook for the global reinsurance sector, citing strong balance sheets, improved reserve adequacy, robust profitability and continued underwriting discipline, even as pricing conditions soften across the market. Moody’s recent report noted that reinsurers are entering the next phase of the market cycle from a position of strength. Reinsurers’ robust…
Reinsurance capital continues to build, creating a favourable environment for insurers but placing greater pressure on reinsurers to demonstrate the value they bring to clients, according to Laurent Rousseau, CEO of Global Capital & Advisory, and Europe and IMEA at Marsh Re. Speaking ahead of the Monte Carlo Rendez-Vous, Rousseau said the continued growth in…
Hannover Life Reassurance Company of America (Hannover Re US) has appointed Sean Conrad as Vice President (VP) and Head of Traditional Life Pricing and Data Analytics, effective immediately. In his new role, Conrad’s remit within the traditional life solutions will include traditional pricing, data analytics, and accelerated underwriting. He will also support growth and the…
Strategic Risk Solutions (SRS), an independent insurance company manager, has announced that SRS Altitude has been approved as a Lloyd’s Coverholder. SRS Altitude is an independent entity under the SRS umbrella, specialising in Alternative Risk Transfer solutions designed to address the increasingly complex risk management challenges and needs of corporate clients across industries. SRS Altitude’s…
International General Insurance Holdings Ltd. (IGI) has announced the launch of Bermuda-based Cipher Underwriting Ltd., a specialty treaty reinsurance managing general agent (MGA) that will provide dedicated cyber treaty underwriting expertise and solutions globally, led by reinsurance specialist Ari Chatterjee. IGI explained that Cipher’s launch represents an important milestone in the firm’s strategy to expand…