Insurtech wefox has secured funding of €151 million ($177.8 million), which will enable the company to build its core market positions in Austria, the Netherlands, and Switzerland as well as its asset-light managing general agent (MGA) and smart insurance distribution …
Strong returns in the reinsurance sector are attracting capital and leading to favorable pricing outcomes for buyers — but underwriting discipline continues, according to renewal reports from three reinsurance brokers. Despite heavy natural catastrophe losses in the first quarter, reinsurance …
Lloyd’s is laser focused on the oversight of delegated underwriting authorities to make sure these facilities do not drag down the market in the same way that poor management of managing general agents did in the past, according to Rachel …
German Insurtech wefox has agreed to sell its Italian businesses, wefox MGA S.r.l. and wefox Services Italy S.r.l., to U.S. private equity firm J.C. Flowers & Co. Financial details of the deal were not disclosed. Founded in 2015, wefox has …
The brokers Aon and WTW both reported organic revenues of 5% for the first quarter of the year, level with Q1 2024. Aon’s total revenue in the first quarter increased 16% to $4.7 billion compared to $4.1 billion during Q1 …
The April reinsurance renewals saw a competitive, buyer-friendly market with plentiful capacity and price reductions for loss-free accounts – in a continuation of the favorable market conditions seen in January, according to reports published by Aon and Gallagher Re. “The …
MS&AD Insurance Group Holdings Inc. announced it will merge two of its non-life insurance company subsidiaries – Mitsui Sumitomo Insurance Co. Ltd. and Aioi Nissay Dowa Insurance Co. Ltd. The aim of the merger is to build a more robust …
The Lloyd’s executives said the market has continued to demonstrate its value to stakeholders by delivering 6.5% premium growth while maintaining underwriting discipline. Lloyd’s saw a continuation of positive returns with profit before tax of £9.6 billion during 2024, down …
Reinsurance renewal rates continued dropping during this year’s January renewals, but US property-catastrophe reinsurance pricing is likely to stabilize during the coming midyear renewals, according to a report from Moody’s Ratings. “The upcoming midyear 2025 reinsurance renewals, which focus on …
AM Best’s population of global reinsurance companies posted a return on equity (ROE) of 22% in 2023 – a five-year high that was driven mainly by favorable investment income and strong underwriting performance. The fundamentals are excellent but Hurricanes Helene …