Reinsurance
Top 50 Reinsurers of 2023 revealed
Munich Re remained in first place of Insurance Post’s Top 50 Reinsurers 2023 list, with Swiss Re and Hannover Rück SE joining Munich Re on the podium this year.
Big Interview: Swiss Re CEO Jason Richards
Jason Richards, CEO of Swiss Re in the UK and Ireland, on why having colleagues back in the office is essential for the insurance ecosystem, and why carriers needs to shout about what the industry does to attract fresh talent.
UK government backs insurance partnership to rebuild Ukraine
The UK government has backed an insurance scheme developed by the European Bank for Reconstruction and Development to boost the provision of cover for war risks in Ukraine.
Insurers’ profitability to remain lower than cost of capital
Data analysis: General insurers are adjusting rapidly to the new higher interest rate era ushered in by the most intense monetary policy tightening since the 1980s but profitability is unlikely to soar back to pre-pandemic levels imminently.
S&P predicts cyber reinsurance rates to increase
S&P Global expects cyber reinsurance rates to increase as reinsurers look to return to profitability, but predicts primary underwriters won’t pass the rate increase on to customers.
Reinsurers’ share of nat cat losses shrinks as profits rise
The proportion of total industry natural catastrophe losses taken by reinsurers has fallen in recent years, with primary insurers retaining more risk.
Best Insurance Employer: Aioi Nissay Dowa Europe
The Best Large Insurance Employer in 2023 is Aioi Nissay Dowa, according to Insurance Post’s poll of 4,000 employees working at all levels of the industry.
Aon, Lloyd’s and VIG team up to support Ukraine’s reconstruction
Aon, Lloyd’s, and Vienna Insurance Group committed to providing enhanced reinsurance capacity to support Ukraine’s country’s recovery and reconstruction efforts.
Chaucer CEO exits to pursue ‘opportunities’
John Fowle has stepped down as group CEO of Chaucer, after six years in the top job, to “pursue other opportunities”.
Scor leaves NZIA and commits to Norwegian gas and oil exploration
Reinsurer Scor has become the latest founding member to leave the Net-Zero Insurance Alliance, CEO Thierry Leger announced at the company’s annual general meeting.
Swiss Re joins Net-Zero Insurance Alliance exodus
Swiss Re has joined Zurich, Hannover Re and Munich Re in turning its back on the Net-Zero Insurance Alliance.
Applied Systems expands commercial lines; Value Space invests; and Avid opts for Allianz for capacity
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
US insurer reveals plan to expand into the UK
Florida-based specialty insurer Fortegra is redomiciling European operations from Malta to Belgium, filing for passporting rights throughout the continent plus applying for licences in the UK to write "regular property and casualty insurance products",…
Diary of an Insurer: McGill and Partners’ Hakim
Sufian Hakim, currently an apprentice treaty reinsurance broker working within claims at McGill and Partners, reads the trade press, passes his CII exams, and hears about the racism a colleague encounters.
How natural catastrophes and inflation are creating a perform storm for insurance
Data analysis: Increasing natural catastrophe losses and shortfalls in industry estimates point to the need for the insurance sector to better understand the risk factors at play today, according to the latest Swiss Re Institute report.
Energy crisis fails to derail insurers from hitting ESG targets
Data analysis: Insurers and reinsurers are managing to stick to their shorter-term goals of cutting underwriting emissions even during the energy crisis.
Q&A: Tom Clementi, Pool Re
Tom Clementi, CEO of Pool Re, updates Insurance Post on plans for the terrorism reinsurer to switch to a treaty model, and explains recent developments in the UK's domestic terror landscape.
Pool Re CEO warns terrorism threat is ‘evolving’ due to the cost-of-living crisis
The cost-of-living crisis has affected SMEs’ ability to afford some types of non-essential insurance products, such as terrorism cover, according to Tom Clementi, CEO of Pool Re.
Diary of an Insurer: Gallagher's Andrew Corbin
Morning stretches mean Andrew Corbin, partner and chair of the race and ethnicity network at Gallagher, doesn't break into a sweat during renewal season while also working to make the industry more inclusive.
Consilium's co-CEOs are targeting £1bn GWP by 2026
Consilium's co-CEOs James Baird and Paul Richards say the focus for 2023 is growing speciality areas, and to deliver £1bn in gross written premium by 2026.
PRA stress tests raise concerns about reliance on reinsurers
The Prudential Regulation Authority intends to assess reinsurance risks that could threaten the financial stability of some general insurers later this year.
Diary of an Insurer: iPrism’s Amie Wright
Amie Wright, private clients team manager at iPrism Underwriting, works on new business, mid-term adjustments, renewals in the run-up to Christmas, and Santa rewards her with a Ryan Reynolds mug after she smashes her targets.
Diary of an Insurer: RSA’s Jessica Riley
Jessica Riley, terrorism lead for commercial lines at RSA, packs in school runs, training for charitable races, a Christmas team catch-up, and making amendments to e-learning modules for terrorism into her working week.