Tokio Marine’s international business reported Q2 2024 fiscal year profit of JYP 251.4 billion ($1.62 billion), an increase of 24.5% from the same period of the previous year, while net premiums written surged 14.8% to JYP 1,706.7 billion ($10.97 billion). As per Tokio Marine, the primary driver of the profit increase of JPY 49.4 billion […]
Archives for November 2024
MGA Aqueous secures capacity deal with Allied World and Sompo
Specialist managing general agent (MGA) Aqueous Underwriting has obtained major new capacity in a three-year deal with insurers Allied World and Sompo. From what Reinsurance News understands, the move to a syndicated capacity arrangement will provide the MGA with the opportunity to significantly develop and boost its product suite as it enters its next phase […]
Rokstone gets regulatory licence to open new office in Dubai
International specialty re/insurance MGA Rokstone, part of the Aventum Group, has received a regulatory license from the Dubai Financial Services Authority (DFSA) -the independent regulator overseeing business conducted within or from the Dubai International Financial Centre (DIFC)— to expand its services in the region with a new office. Rokstone explained that the Dubai office will […]
How Traffic Tickets Impact Your Insurance Rates
Traffic violations in Washington state can significantly impact your driving record and insurance rates, but Mid-Columbia Insurance is here to help you navigate these challenges. With over 25 years of experience serving Washington drivers, our team understands how to find the best insurance solutions even after receiving a citation. The Reality of Traffic Citations in […]
GIC Re’s underwriting loss narrows for H1’24, CoR stands at 111.64%
GIC Re, the Indian public sector reinsurer, has reported an underwriting loss of approximately ₹2,376.95 crore for the half year ended on September 30th, 2024, (H1 2024), as compared to a loss of around ₹3,029.04 crore for the same period in 2023. The reinsurer’s combined ratio improved slightly at 111.64 % for H1’24 as compared […]
Aon and Fathom launch new Florida Flood Model for state insurers to assess exposures
Aon, a global professional services firm, has been certified by the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) to launch its new Florida Flood v3.0 model statewide to assess flood exposures in the state and inform re/insurers’ rate filings. Florida Flood v3.0 was developed by Impact Forecasting, Aon’s catastrophe model, in collaboration with global […]
Generali posts strong GWP growth and 94% CoR for 9M’24 despite significant cat losses
Italian insurer Generali has reported a 5% year-on-year increase in its net result to €3 billion for the first nine months of 2024, as gross written premiums (GWP) across the group rose 18% to €70.7 billion amid strong growth in both P&C and life. Group-wide, Generali’s 9M 2024 consolidated operating result increased from €5 billion […]
SCOR falls to Q3’24 net loss as L&H assumption review trumps positive P&C result
French reinsurer SCOR has reported a group net loss of €-117 million in Q3 2024, driven by a negative insurance service result in L&H reinsurance. However, its P&C segment saw a very strong performance, with a combined ratio of 88.3%. At the same time, the firm’s insurance revenue in Q3 2024 was down 6.9% to […]
AIG names Christopher Schaper as Chief Risk Officer
Global insurer American International Group, Inc. (AIG) has appointed Christopher Schaper as its new Chief Risk Officer on a permanent basis, effective immediately. He has held the same role on an interim basis since September 2024, while also serving as AIG’s Global Chief Underwriting Officer (CUO). In an interim capacity, Schaper will continue to serve […]
Protecting Your Vehicle: Essential Tips from the NICB
In an alarming trend, over one million vehicles were stolen last year in the United States – that’s approximately one theft every 30 seconds. The National Insurance Crime Bureau (NICB) has developed essential guidelines to help protect your vehicle from becoming part of these statistics. Four Critical Steps to Prevent Vehicle Theft 1. Never Leave […]