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JPMorgan acknowledged that the double-digit decline in real estate catastrophe pricing was a sharp adjustment to digest, but said it did not expect the renewal weakness to impact reinsurers’ net income guidance, noting that market participants had largely anticipated these pricing reductions when the guidance was set. In a new report on the matter, J.P….
Carrick Group Limited, the international non-life legacy insurance company headquartered in Bermuda, has announced the appointment of Alex Smith as Senior Vice President of London Operations and Aidan Mills as Vice President of Mergers and Acquisitions in Bermuda. Smith has more than 25 years of industry experience. Prior to joining Carrick Group, he held a…
Cowbell, a provider of online and specialty insurance focused on small and medium-sized businesses, has announced the next cycle of its organizational journey to accelerate global growth while increasing profitability and scale, with the appointment of John Botros as chief financial officer. Building on the company’s strong performance and recent expansion into Australia, Cowbell is…
QBE Re, the reinsurance arm of global insurance group QBE, has completed its first casualty sidecar, George Street Re, marking its entry into the sidecar market with a fully collateralized quota share reinsurance transaction in excess of $550 million. The George Street Re sidecar, backed by institutional investors Culpeper Capital Partners, Calidris Investment Partners and…
US private flood insurance provider Neptune Flood has entered into a strategic partnership with Somers Syndicate 3705 to provide additional underwriting capacity to support its range of insurance products. Somers Syndicate 3705 is the Lloyd’s insurance business of Somers Re Ltd. Somers Re Ltd is a global insurance and reinsurer with extensive experience in the…
Blenheim Partnerships, part of the White Bear Group, has launched specialist trade-related managing general agents (MGA), led by Ed Parker. MGA is supported by Blenheim Underwriting as well as other reputable markets including a number of Lloyd’s syndicates. According to the announcement, MGA provides insurance for various trade-related risks, with insurance limits ranging from US$4.5…
Independent multinational insurance and reinsurance broker Malakut has announced the appointment of Sajith Kumar to the newly created role of chief commercial officer for the Middle East. In this role, Kumar will be based out of the company’s Dubai headquarters and will lead Malakut Group’s regional sales, drive profit growth and strengthen its services across…
Chariot Re, an independent life and annuity reinsurer headquartered in Bermuda, has announced the completion of its second reinsurance transaction. The agreement, with MetLife’s Nebraska affiliate MetTower Life Insurance Company, covers a significant portion of whole life insurance liabilities. Under the terms of the transaction, MetLife’s commitment to its policyholders remains unchanged and it will…
Xceedance, a global provider of technology-driven business solutions to the insurance industry, has acquired Marble Box, a provider of professional back-office support and virtual assistant services to independent insurance brokers. The acquisition brings Xceedance into the agency and brokerage industry, underscoring its dedication to modernizing distribution operations, the company noted. Although agents and brokers are…
Coalition, a proactive insurance company focused on preventing digital risks, has expanded its UK presence to include organizations in the Isle of Man, Jersey, Guernsey, the remaining Channel Islands and Gibraltar. The move marks a significant expansion of the company’s geographical footprint, enabling organizations in the British Crown Dependencies and Gibraltar to access digital risk…