Your weekly re/insurance round-up, ending 8th November, 2024

More re/insurance industry results emerged this week for the Q3 and 9M periods, with the likes of Munich Re , Lancashire , RenRe ,?Zurich ,?Hiscox Re & ILS , Beazley , AIG , and Conduit Re ?witnessing marked improvements.

Meanwhile, with Donald Trump’s imminent return to the White House, it was revealed that?re/insurers are reconsidering the policies that shaped his first presidency and preparing for the potential impacts on the sector .

In other developments,?Gallagher Re pegged its preliminary insured loss estimate for the recent floods in Spain at €1.5bn – €2.5bn , with S&P noting the event will have “limited effects” on private insurers and reinsurers , given that the Consorcio de Compensación de Seguros will cover most of the claim costs.

Elsewhere,?Swiss Re strengthened its P&C Re reserves by $2.4bn in Q3 ?and also agreed to sell iptiQ’s European P&C business to Allianz Direct .

At the same time,?MultiStrat selected AdvantageGo’s Underwriting Workbench to streamline its ILS and reinsurance operations , and?Parametrix launched a new cyber insurance solution for digital interruption .

It was also reported that?PCRIC and WTW have renewed their disaster risk insurance coverage for the Pacific region .

Turning to the key people moves from the week, Jonathan Rake is set to become CEO of Swiss Re Solutions , while?Clemens Jungsth?fel will succeed Jean-Jacques Henchoz as CEO of Hannover Re .

Simon Clapham has additionally joined Aon Underwriting Managers as CUO , and?Lloyd’s appointed Nathan Adams as Chief People Officer .

Everest also named Emily Davis as Head of Reinsurance Global Specialties , while?Pool Re placed Andrew Stark as Head of Underwriting .

We’ll continue to update you with more coverage of the major developments from this week, while also keeping up with the regular news coming out of the re/insurance industry.

We hope all our readers stay safe and well this weekend!