Bermuda-domiciled insurer and reinsurer SiriusPoint has announced Anthony Shapella as its new Group Chief Underwriting Officer (CUO), with David Govrin set to focus solely on his role as Group President and Chief Executive Officer (CEO) of Global Reinsurance, effective January 1st, 2025. Shapella, who will become part of the Executive Leadership Team, joined SiriusPoint in […]
Archives for November 2024
Permissive Use: Can My Friend Borrow My Car?
Have you ever wondered what happens with your car insurance when you lend your vehicle to a friend or family member? Let’s dive into the concept of “permissive use” and what it means for your coverage. What is Permissive Use? Permissive use is a clause in your car insurance policy that extends coverage to other […]
Hannover Re lifts 2024 profit target as 9M net income reaches €1.8bn and losses fall within budget
Large European reinsurer Hannover Re has raised its profit target for 2024 on the back of a 30.4% rise in net income to €1.8 billion for the first nine months of the year, as the reinsurance service result increased by more than 36% to €2.1 billion. Across the group, gross reinsurance revenue rose 6.4% to […]
Car vs Pedestrian in Kennewick & Auto Liability Insurance
A serious accident in Kennewick, Washington, has sparked crucial conversations about auto liability insurance after a 46-year-old pedestrian was struck by a pickup truck on West 10th Avenue. The incident, which occurred near the Arlo apartments and Park Middle School, serves as a sobering reminder of why adequate insurance coverage isn’t just a legal requirement—it’s […]
Pasco WA Rollover Accident & Personal Injury Protection (PIP)
A single-car rollover accident in Pasco, Washington this morning resulted in two people being hospitalized, serving as a sobering reminder of how quickly life can change on the road. As these individuals begin their recovery journey, their situation brings attention to a crucial but often overlooked form of auto insurance: Personal Injury Protection (PIP). The […]
The industry needs to evolve to stay ahead of social inflation, RenRe CUO, Marra
While social inflation is certainly not a new subject within the re/insurance sector, the industry needs to continue to evolve to stay ahead, according to David Marra, Group Chief Underwriting Officer (CUO) of RenaissanceRe (RenRe). Marra discussed inflation during RenRe’s earnings call for its financial results for the third quarter of 2024, which saw the […]
Munich Re’s Dalton elected Chair of American Institute of Marine Underwriters
Sean M. Dalton, Executive Vice President of Munich Reinsurance America Inc., a subsidiary of reinsurance giant Munich Re, has been elected chair of the American Institute of Marine Underwriters (AIMU). Dalton, who is Head of Marine Underwriting, North America and Head of Global Marine Facultative, succeeds Anthony Cowie, Head of Marine Reinsurance for the Americas, part […]
Wright Flood partners with Orange to co-brand flood policies
Wright National Flood Insurance Company has announced its partnership with Orange Insurance Exchange (Orange) to co-brand flood policies. Wright Flood will service, administer, and issue flood coverage under the National Flood Insurance Program (NFIP) for Orange policyholders and agents. Patricia Templeton-Jones, President of Wright Flood, expressed excitement about the new partnership, stating, “We look forward […]
Market conditions continue to have solid rating fundamentals going into 2025, Lancashire CUO
According to Lancashire Holdings’ Chief Underwriting Officer (CUO), Paul Gregory, market conditions in almost all lines of business continues to have “very solid rating fundamentals going into 2025.” “Our expectation is that the recent loss activity both highlights the value of the products that we sell, which will always help demand, and also prolongs the […]
The Baldwin Group total revenue up 11% to $338.9m in Q3’24
The Baldwin Group has announced that total revenue has grown 11% in the third quarter of 2024, to $338.9 million from the $306.2 million reported in the same period last year. At the same time, the company also posted organic revenue growth of 14% during Q3 2024. However, the organisation also posted a net loss […]