P&C Insurance

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 […]

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 […]

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 […]

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, 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 […]

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 […]

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 […]

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 […]

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 […]

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 […]