Reinsurance

DGAP-News: Progress-Werk Oberkirch AG: PWO reports good business performance in first half of 2022

Retrieved on: 
Tuesday, August 9, 2022 - 8:02am

Dr. Cornelia Ballwieer (CFO): We are continuing to navigate the PWO Group safely through the current general economic and geopolitical challenges.

Key Points: 
  • Dr. Cornelia Ballwieer (CFO): We are continuing to navigate the PWO Group safely through the current general economic and geopolitical challenges.
  • This underscores our positive business performance in the first six months.
  • General economic risks have increased substantially, especially for the gas supply in Europe
    Oberkirch / Valask Mezi / Kitchener / Puebla / Suzhou / August 9, 2022 The PWO Group had a successful first half of fiscal 2022.
  • This was thanks to the start-up and ramp-up of new series production combined with cost reductions.

Enstar Announces LPT Transaction With Argo

Retrieved on: 
Monday, August 8, 2022 - 11:54pm

Argo will retain a loss corridor of $75 million up to $821 million.

Key Points: 
  • Argo will retain a loss corridor of $75 million up to $821 million.
  • The closing of the transaction is subject to regulatory approval and other closing conditions and is expected to be completed in the second half of 2022.
  • Dominic Silvester, Enstars Chief Executive Officer, said: As this collaboration with Argo demonstrates, Enstar continues to be a market of choice for run-off solutions.
  • A market leader in completing legacy acquisitions, Enstar has acquired over 110 companies and portfolios since its formation in 2001.

Betterview Announces Engagement with NFPA to Provide Property and Community-Level Wildfire Insights

Retrieved on: 
Monday, August 8, 2022 - 4:15pm

Safer from Wildfire will greatly impact the insurance industry in California, says Armin Monajemi, VP of strategic partnerships at Betterview, an InsurTech provider of actionable property intelligence to property and casualty (P&C) insurance companies.

Key Points: 
  • Safer from Wildfire will greatly impact the insurance industry in California, says Armin Monajemi, VP of strategic partnerships at Betterview, an InsurTech provider of actionable property intelligence to property and casualty (P&C) insurance companies.
  • One particular provision included in the Safer from Wildfire legislation even mandates that insurers offer discounts to policyholders taking prescribed precautions against wildfire risk.
  • The Betterview Wildfire Risk Insights leverages predictive analytics, computer vision, and third-party property data to show a holistic picture of wildfire risk including both regional hazard data and property-level vulnerability.
  • This relationship between Betterview and NFPA enriches the risk insights by including the community aspect, which is a critical piece in reducing wildfire risks.

Scott Palladino Joins Obsidian as Chief Business Development Officer

Retrieved on: 
Monday, August 8, 2022 - 12:55pm

NEW YORK, Aug. 8, 2022 /PRNewswire/ -- Obsidian Insurance Group ("Obsidian"), which is focused on facilitating and supporting growth in specialty insurance programs, announced today the appointment of insurance industry veteran Scott Palladino as Chief Business Development Officer.

Key Points: 
  • NEW YORK, Aug. 8, 2022 /PRNewswire/ -- Obsidian Insurance Group ("Obsidian"), which is focused on facilitating and supporting growth in specialty insurance programs, announced today the appointment of insurance industry veteran Scott Palladino as Chief Business Development Officer.
  • William Jewett, Chief Executive Officer of Obsidian, commented, "Scott Palladino is a tremendous addition to our Leadership Team.
  • "I am honored and excited to be joining Obsidian," stated Scott Palladino.
  • Obsidian sources, underwrites, and manages a diverse portfolio of property, casualty, and specialty insurance programs, and reinsures the majority of the business to select reinsurers.

AM Best Revises Outlooks to Positive for Dunav-Re a.d.o.

Retrieved on: 
Friday, August 5, 2022 - 5:22pm

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of bbb- (Good) of Dunav-Re a.d.o.

Key Points: 
  • AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of bbb- (Good) of Dunav-Re a.d.o.
  • The revision of the outlooks to positive from stable primarily reflects Dunav-Res record of robust operating performance and the expectation for this to continue.
  • AM Best expects Dunav-Re to report good underwriting profitability in the short to medium term, in line with its recent experience.
  • AM Best expects future business growth to be supported by internal capital generation and financial support from the companys parent.

AM Best Assigns Credit Ratings to Spheric Assurance Company, Ltd.

Retrieved on: 
Friday, August 5, 2022 - 5:11pm

AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of bbb (Good) to Spheric Assurance Company, Ltd (Spheric) (British Virgin Islands).

Key Points: 
  • AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of bbb (Good) to Spheric Assurance Company, Ltd (Spheric) (British Virgin Islands).
  • The outlook assigned to these Credit Ratings (ratings) is stable.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • For information on the proper use of Bests Credit Ratings, Bests Performance Assessments, Bests Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Bests Ratings & Assessments .

Reinsurance Providers Global Market Opportunities and Strategies Report 2022 - ResearchAndMarkets.com

Retrieved on: 
Friday, August 5, 2022 - 12:45pm

The "Reinsurance Providers Global Market Opportunities And Strategies To 2031" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Reinsurance Providers Global Market Opportunities And Strategies To 2031" report has been added to ResearchAndMarkets.com's offering.
  • The reinsurance providers market is segmented by type into property and casualty reinsurance providers and life and health reinsurance providers.
  • The property and casualty reinsurance providers market was the largest segment of the reinsurance providers market segmented by type, accounting for 70.2% of the total in 2021.
  • The top opportunities in the reinsurance providers market segmented by type will arise in the general property and casualty reinsurance providers and life and health reinsurance providers, which will gain $756.56 million of global annual sales by 2026.

Sana Biotechnology Reports Second Quarter 2022 Financial Results and Business Updates

Retrieved on: 
Thursday, August 4, 2022 - 9:05pm

SEATTLE, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Sana Biotechnology, Inc. (NASDAQ: SANA), a company focused on creating and delivering engineered cells as medicines, today reported financial results and business highlights for the second quarter 2022.

Key Points: 
  • We are pleased with the continued progress this quarter both across our platforms and with our product candidates.
  • Sana also presented data showing that HIP allogeneic regulatory T cells function and are able to evade immune detection in preclinical models.
  • These data provide a path for a potential safety strategy as well as validation of the mechanism of immune protection.
  • The Company has based these forward-looking statements largely on its current expectations, estimates, forecasts and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs.

Cryoport Reports Results for the Second Quarter 2022

Retrieved on: 
Thursday, August 4, 2022 - 9:05pm

Biopharma/Pharma revenue increased to $51.7 million, up 14% or $6.2 million for the second quarter of 2022 compared to $45.5 million for the second quarter of 2021.

Key Points: 
  • Biopharma/Pharma revenue increased to $51.7 million, up 14% or $6.2 million for the second quarter of 2022 compared to $45.5 million for the second quarter of 2021.
  • Animal Health revenue increased to $9.6 million, up 14% or $1.2 million for the second quarter of 2022 compared to $8.4 million for the second quarter of 2021.
  • Reproductive Medicine revenue increased to $2.9 million, up 24% or $0.6 million for the second quarter of 2022 compared to $2.3 million for the second quarter of 2021.
  • IMPORTANT INFORMATION: A document titled "Cryoport Second Quarter 2022 In Review", providing a reviewofCryoport'srecentfinancialandoperationalperformanceandageneral businessupdate, will be issued at 4:05 p.m. EDT on Thursday, August 4, 2022.

AXA XL strengthens War, Terrorism and Political Violence Underwriting with key appointment in California

Retrieved on: 
Thursday, August 4, 2022 - 7:00pm

LOS ANGELES, Aug. 4, 2022 /PRNewswire/ -- AXA XL has appointed Greg Johnson as lead Underwriter for War, Terrorism and Political Violence (WTPV) business for the Western Region of the US.

Key Points: 
  • LOS ANGELES, Aug. 4, 2022 /PRNewswire/ -- AXA XL has appointed Greg Johnson as lead Underwriter for War, Terrorism and Political Violence (WTPV) business for the Western Region of the US.
  • Greg is an expert in his field and brings a unique underwriting perspective that further complements our capabilities."
  • AXA XL's offers worldwide insurance for assets that are exposed to war, terrorism and political violence attacks.
  • To learn more, visit www.axaxl.com
    1AXA XL is a division of AXA Group providing products and services through four business groups: AXA XL Insurance, AXA XL Reinsurance and AXA XL Risk Consulting.