Reinsurance
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WTW updates hailstorm model with NASA satellite data
WTW will update and improve its hailstorm models after extending its partnership with the Germany's Karlsruhe Institute of Technology (KIT)…
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Scor’s net income tumbles 99.5% in 2024 despite Q4 gain
Scor reported a 43% gain in Q4 net income to €233m but the reinsurer’s full-year net income tumbled 99.5% to…
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Flood Re announces new CEO
UK reinsurance pool Flood Re has appointed Perry Thomas as its new CEO to succeed Stuart Logue, who has led…
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Pool Re extends retro cover to £2.75bn
Pool Re, the UK’s government-backed terrorism reinsurer, has completed the placement of a new retrocession programme with more than 60…
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Swiss Re Corporate Solutions appoints McGrath as CUO and unveils new country units
Swiss Re Corporate Solutions has announced that Katie McGrath will replace Kera McDonald as chief underwriting officer (CUO), when McDonald…
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Swiss Re Corporate Solutions boosts income by 23% as rates flatten
Swiss Re Corporate Solutions saw its net income jump 26% last year to $829m as all of its key numbers…
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Rising litigation costs and awards create uncertainty for casualty reinsurance industry
The global casualty reinsurance industry is facing financial pressure from rising litigation costs and higher jury awards, forcing reserve strengthening…
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Munich Re pegs LA wildfire loss at €1.2bn as it delivers record 2024
Munich Re has reported a €1bn spike in its net result to total €5.67bn in 2024, outpacing its profit target…
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US could target reinsurance trade gap, warns think tank
The US may look to close its sizable reinsurance trade imbalance under President Donald Trump, but such a move would…
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New general manager for Lockton MENA’s operation in North Africa
Fady Khawam has been appointed as general manager for Lockton MENA’s operation in North Africa, leading its reinsurance strategy there.…
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ILS issuance continues to boom after record in 2024
A record $17.2bn of insurance-linked securities were issued in 2024, driven in part by a host of new sponsors and…
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Pool Re and UK government agree new retro terms
State-backed terrorism reinsurer Pool Re and the UK government have agreed a new retrocession agreement from 1 April, which they…
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Climate reinsurance proposals could help EU insurance markets
State-backed reinsurance schemes could help EU insurers and reinsurers to continue providing cover in high-risk locations that they might otherwise…
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Increased capacity expected to further soften reinsurance pricing
Increased capacity should drive reinsurance pricing down this year, but the California wildfires will likely slow the rate of property…
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Hannover Re reports prices down 2.1% at 1/1 renewal
Hannover Re recorded an average 2.1% drop in reinsurance prices at 1 Jan renewals, inflation and risk adjusted, but saw…
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New ILS issuance hits record high in 2024
There was an estimated $17.2bn of new issuance in the insurance-linked securities (ILS) market last year, topping the previous record…
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Alternative solutions drive Scor’s 1/1 renewals
Scor booked a 9.6% increase in renewed reinsurance premiums at 1 Jan 2025 to €5.27bn, driven by “strong momentum” in…
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Marsh revenue up 10% as execs warn wildfires could temper reinsurance softening
Marsh reported 10% higher revenue last year to $12.54bn after a 15% rise in Q4, as top executives at parent…
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Insurer profit targets ‘still achievable’ despite higher LA wildfire losses: Berenberg
Profit targets set for 2025 by major insurers and reinsurers are “still achievable” despite rising loss estimates from the California…
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S&P expects strong operating profits for global reinsurers
Global reinsurers are expected to see strong operating profits that will aid them in earning their cost of capital in…