Reinsurance
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Reinsurance renewals ‘smooth’ but cost of European cat cover up: Aon
The 1 January reinsurance renewals were “relatively smooth” with overall pricing flat to slightly up, but things were tougher for…
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Flat 1 Jan reinsurance renewals as stability returns
January 1 2024 reinsurance renewals were much more stable and smooth than last year due to more favourable supply dynamics,…
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International Group secures P&I rate reductions for all vessel types
The International Group (IG) of P&I Clubs, which secures liability pooling and reinsurance cover for the 12 P&I Clubs and…
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Cyber reinsurance market expands with cat bonds issuance
The recent issuance of a cyber catastrophe bond by Axis Capital Holdings capped a year in which the insurance-linked securities…
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Allianz secures €250m cat bond for European windstorm
Allianz has sponsored a €250m catastrophe bond to protect its own account from European windstorm risks. The three-year reinsurance deal,…
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Munich Re targets net profit growth to €5bn in 2024
Munich Re is targeting further growth in 2024 setting a net profit target of €5bn, which it says will be…
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Hannover Re targets 24% growth in 2024 net income to €2.1bn
Hannover Re said it expects group net income to increase by 24% in 2024 to total €2.1bn. Announcing new targets…
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Free cyber risk platform rolled out to help buyers and spur ILS market
Cyber risk quantification specialist DeNexus has made its cyber risk assessment platform available for free to industrial companies, in a…
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Howden accelerates Swiss growth with Haakon buy
Howden has acquired Swiss reinsurance broker Haakon, furthering its expansion in Switzerland after acquiring three brokers in the country in…
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New A&H Lloyd’s insurer launched
Insurance industry investor Beat Capital Partners has launched a new accident and health (A&H) underwriter, RedRiff Agency Ltd. Peter Wilkins…
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Mixed primary market outlook for 2024: Zurich
Zurich has painted a mixed picture for European insurance buyers next year with some areas, such as marine, stabilising, and…
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Rate increases drive AM Best’s stable outlook for global reinsurers
AM Best has held its stable outlook for the global reinsurance market based on “substantial” rate increases, largely from property…
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UK exposed to millions in additional flood losses from climate change
The impact of climate change will add millions to the UK’s losses from flooding, according to a new study from…
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Howden calls for mobilisation of ‘vast sums’ to protect Global South
Global broker Howden has called for the creation of a range of loss and damage vehicles that it believes could…
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Shanghai consolidates reinsurance position with new trading platform
The Shanghai Insurance Exchange (SIE) has launched its international reinsurance business trading platform along with the first raft of market…
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James River agrees to sell reinsurance unit to Fleming
James River Group Holdings said it will sell JRG Reinsurance Company, its third-party casualty reinsurance business, to Fleming Insurance Holdings,…
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Munich Re raises profit guidance on lower Q3 nat cat losses
Munich Re has raised its profit guidance for full-year 2023 after a better-than-expected third quarter result on the back of…
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PartnerRe appoints Covéa’s Dubreuil and Bucchini to board
PartnerRe has appointed Covéa executives Emmanuel Dubreuil and François Bucchini to its board of directors, taking the seats left vacant…
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Stable January reinsurance renewals expected
January reinsurance renewals will likely proceed in a more orderly fashion than was the case heading into this year, according…
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Hurricane Otis losses to further harden reinsurance market, says Best
Insured losses from Hurricane Otis in Mexico, which could range between $1.8bn to as much as $6.5bn, are likely to…