Your weekly re/insurance round-up, ending May 10th 2024

In this week's major news, the UK's Flood Re revealed plans to raise its liability & loss limits?to adress the evolving reinsurance and flood landscape, while?Truist completed the sale of its remaining stake in insurance brokerage TIH.

Meanwhile,?Howden Re released a report highlighting why the re/insurance industry must recalibrate its?approach to the cyber risk landscape.

In a new wave of opening quarter results,?Munich Re reported that its insurance revenue rose to €15.1bn, while Fidelis saw GPW growth, though large losses dented its underwriting income.

Elsewhere,?Ark disclosed a Q1 combined ratio of 94% as its GWP hit $872m, and?QBE's growth momentum continued while its underwriting performance is “tracking to plan".

In other developments,?Maiden entered a renewal rights transaction with AmTrust Nordic AB, and in an interview with Reinsurance News,?Capgemini's?Adam Denninger noted that?AI has a crucial role for underwriters despite its risks.

Turning to the key people moves,?Industry veteran Alan Quilter joined Augment Risk as Strategic Advisor?and?Will Allen was named Executive MD of Capital Advisory, Aon’s Reinsurance Solutions.

Finally,?Blackstone appointed Philip Sherrill as Global Head of Insurance, and?BMS Re announced six hires to its MGA ProLink Solutions.

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!