Your weekly re/insurance round-up, ending February 9th 2024

A new wave of re/insurance industry results emerged this week, with Howden reporting organic growth of 13% as its 2023 revenue hit £2.4bn.

At the same time, WTW witnessed 6% organic revenue growth for Q4 2023 to $2.91bn.

Everest highlighted robust pricing momentum as its growth continued in 2023, and Talanx said it expects a record full year net income of €1.58bn following an “extremely successful” year.

Providing renewals insight, SCOR revealed that it expanded its P&C portfolio by 13.6% at 1/1, while Hannover Re enlarged its book by 6.9%.

Meanwhile, CCR Re noted organic growth was the main driver for its portfolio expansion, as the firm wrote almost €840m of premiums, an increase of 11% year-on year.

In other developments, Fortegra withdrew its initial public offering, and Warwick Re completed a roughly $500m quota share reinsurance agreement with UK BPA insurer Just Group.

It was also reported that Chinese conglomerate Fosun is recommencing the sale of Hong Kong-based Peak Re.

Turning to the key people moves, Fidelis MGU promoted Kevin Adams to Head of US Treaty Production and Jason Shrubb to Head of US Reinsurance, and Swiss Re hired two within its cyber reinsurance team, naming Giv Kahrom as Head of Cyber Asia, and Alex Stubbs as Senior Cyber Underwriter for the UK market.

Elsewhere, Gallagher Re made leadership changes in the EMEA region, and VIG Re appointed Tobias Sonndorfer as Vice-Chairman of its Board of Directors.

Marsh also named Lorraine Stack as Risk Management Leader, Europe.

We’ll continue to update you with more coverage on 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!