A Turnaround Story: Boost People, Then Financial Results, Aspen CEO Says
The turnaround at Aspen Insurance Holdings—the result of a multipronged, multiyear effort—is bearing fruit with a return to consistent profits. Mark Cloutier, ...
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Reinsurers Cautious About U.S. Regional Property Cat as Storm Losses Rise: Gallagher Re
After a costly 2023 severe convective storm season in the U.S., reinsurers underwriting in the regional property-catastrophe market are skeptical about providing ...
Zurich’s Farmers Seeks More Fee Income Via Broker Acquisitions
Zurich Insurance Group announced that its subsidiary, Farmers Group Inc. (FGI), has agreed to acquire three insurance brokers of the Farmers Exchanges for $760 million. The deal also includes the ...
Applied Underwriters Unveils Specialist MGA Unit, Led by Ex-SiriusPoint CEO Malloy
Applied Underwriters has launched a new holding company called "United Risk," which brings together the company's MGA and MGU businesses under a single brand. Former SiriusPoint executive Dan Malloy ...
RenRe Completes $3.3 Billion Acquisition of Validus Re From AIG
RenaissanceRe Holdings Ltd. announced it has concluded its acquisition of Validus Re, the treaty reinsurance business of American International Group.
Reinsurers reported "a robust increase" in their capital base, improved underwriting profits as well as higher returns on equity and investment income, according to a ... More cyber reinsurance rate increases can be expected as reinsurers seek to regain underwriting profits in their cyber portfolios, according to a report published by ...
‘Urgent Need’ to Understand Single Points of Failure in Digital Supply Chains: Report
The rise of cyber risk accumulation events has highlighted the need for cyber insurers and reinsurers to understand single points of failure (SPoFs) within their customers' digital supply chains, ...
Major Cyber Attack Could Cost Global Economy $3.5 Trillion: Lloyd’s
A cyber attack on a major financial services payments system could result in widespread business disruptions, potentially costing the global economy $3.5 trillion over a five-year period, according ...
Client Needs Rediscovered at Reinsurance Rendez-Vous
One of the themes at this year's reinsurance Rendez-Vous de Septembre (RVS) was that reinsurers have rediscovered client need, client interest and have again started to put clients at the center of ...
Reinsurers’ Performance Keeps Improving: Gallagher Re
Reinsurers’ Cyber Rates Expected to Rise as They Seek to Regain Profitability: S&P