Asian Re names Satitchaichareon Chairperson


Bangkok-based Asian Reinsurance Corporation (Asian Re) has announced the appointment of a new Chairperson, Sumalee Satitchaichareon, Deputy Director-General, Fiscal Policy Office, the Ministry of Finance of Thailand. Asian Re is an intergovernmental organisation established in 1979 with the support of the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP). The organisation […]

2024 Medical Loss Ratio Rebates


Insurers estimate they will pay $1.1 billion in Medical Loss Ratio (MLR) rebates in 2024 to select individuals and employers that purchase their health coverage, according to a KFF analysis of preliminary data reported to state regulators. The estimated rebate for 2024 is larger than rebates issued in most prior years. Nearly $12 billion in […]

Ratings on Fairfax’s re/insurance subs upgraded on revised criteria


S&P Global Ratings has upgraded Fairfax Financial Holding and its re/insurance subsidiaries, which include Odyssey Re and Allied World amongst others, on revised criteria and assigned a positive outlook. The agency raised its long-term issuer credit rating on Fairfax Financial Holdings to ‘BBB+’ from ‘BBB’. The long-term issuer credit and financial strength ratings on Fairfax’s […]

Howden, Allianz Trade, and Saudi EXIM partner to boost Saudi trade and growth


Howden, Allianz Trade, and Saudi EXIM bank have signed an Initial Framework Agreement to bolster Saudi Arabia’s economic growth and facilitate international trade. As part of the initial agreement, facilitated by Howden, Allianz Trade and Saudi EXIM Bank will collaborate to provide dedicated non-payment insurance for international exporters and banks. This insurance will support the […]

Consilium expands team in Cayman with Mighty’s appointment


International re/insurance broker Consilium, part of the Aventum Group, has announced the appointment of Rori-Leigh Mighty as Partner for its Cayman office. She will be reporting to Yaremis Hydes, Managing Partner in Consilium Cayman, who joins the business from Aon. Mighty is joining Consilium with close to two decades of P&C broking experience. Through her […]

Nassau Financial Group and Golub Capital forge strategic partnership


Nassau Financial Group, an insurance and financial services firm, and Golub Capital, a credit asset management firm, have announced the signing of a definitive agreement to form a strategic partnership. As part of this agreement, Golub Capital will invest $200 million in minority non-voting common equity in Nassau, becoming the largest minority equity holder in […]

Record investment income for US P&C insurers in 2023: AM Best


In 2023, net investment income for the US property/casualty insurance sector reached a record $73.9 billion, boosted by higher interest rates, according to a new report by AM Best, a credit rating agency for the insurance industry. The Best’s Special Report, “US P/C Insurers Achieve Record Investment Income in 2023,” reveals that net investment income […]

Edmund Reese to serve as Aon’s next CFO


Global professional services firm Aon has revealed that Edmund Reese will serve as its executive vice president and chief financial officer (CFO) from July 29, 2024. According to Aon, Reese will join the firm on July 1 to succeed Christa Davies, who will certify second-quarter 2024 results and then become a senior advisor to the […]