Reinsurance News
Insurance solutions provider Orion180 has announced that it has closed on an inaugural $42.5 million senior secured credit facility led by Regions Bank. The senior secured credit facility will add to the capital base of both of Orion180’s carriers...
Posted: Apr 05, 2023
Insurance specialist Charles A. Foucreault has joined global law firm Clyde & Co, as a partner in Montréal, Canada, to advise clients on civil liability and insurance law. He practises civil and commercial litigation, specialising in professio...
Posted: Apr 04, 2023
LexisNexis Risk Solutions, a data, advanced analytics and technology provider to the UK insurance market, has announced the appointment of James Burton as Managing Director, Insurance, UK and Ireland. He replaces Jeffrey Skelton who will take up a...
Posted: Apr 04, 2023
A Millman report on Extreme Weather Conditions in Europe showcases the link between climate change and economic losses which have led to major losses for insurers and reinsurers in Europe. Temperatures in Europe have increased by twice the global...
Posted: Apr 04, 2023
Full-service retail insurance broker McGriff has appointed Austin Jones as sales leader for Florida and practice leader for the state’s new condo team. Based in Fort Lauderdale, Jones is tasked with overseeing sales development and strategy for Fl...
Posted: Apr 04, 2023
Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has announced the current mid-point forecasts for its portfolio of syndicate capacity for the 2020 and 2021 years of account, based on 4th quarter 2022 estimates. The...
Posted: Apr 04, 2023
Chairman and Group CEO of Sompo Holdings Inc., Kengo Sakurada, has announced that the company plans to issue social bonds. In March, the company submitted a shelf registration statement and an amended shelf registration statement for a corporate b...
Posted: Apr 04, 2023
Vantage Group Holdings has promoted Denise Watkins to Head of Excess Casualty and Bermuda Healthcare, pending Bermuda immigration approval. In the new role, Watkins is tasked with leading Vantage’s businesses across U.S. Excess Casualty and...
Posted: Apr 04, 2023
Oneglobal Broking has announced a host of changes to its senior leadership team, including the promotions of Roger Spicer to CEO, Global Specialty, Sirikit Oh to CEO, OGB Asia, and Phil Gingell to Chairman and CEO, US Aviation. Each of these will...
Posted: Apr 04, 2023
Global P&C insurer Chubb has announced it is expanding its marine business in Asia with the appointment of a new Head of Marine in Malaysia; and by rolling out a full suite of insurance products and services in the Philippines. According to th...
Posted: Apr 04, 2023
Lancashire Insurance Group has appointed Alison Gaudette as its first Group Sustainability Manager. Within her new role, Gaudette will report to Lancashire’s Group Chief Risk Officer, Louise Wells. Gaudette joins the firm from Argo Group, where sh...
Posted: Apr 04, 2023
Amid increasing global economic volatility, and with a US recession seemingly on the horizon, re/insurers are leaning heavily into fixed income investments and are seeking to increase duration and credit risk, according to analysts at Goldman Sach...
Posted: Apr 04, 2023
Canada Life, the subsidiary of Great-West Lifeco Inc., has unveiled an agreement to acquire Investment Planning Counsel Inc., an independent wealth management firm, from IGM Financial Inc. (IGM). With this acquisition, Canada Life is extending its...
Posted: Apr 04, 2023
Insurance and reinsurance marketplace Lloyd’s of London said it made “significant progress” against its Blueprint Two goals in first-quarter 2023 in market adoption of the Faster Claims Payment (FCP) solution, which now covers over 70%...
Posted: Apr 04, 2023
Aon has estimated that global reinsurer capital has declined by 15%, or $100 billion, to $575 billion as at the end of December 2022, driven by substantial unrealised losses on investment portfolios. According to Aon, most reinsurers reported sign...
Posted: Apr 04, 2023
AM Best has upgraded the credit ratings of Transverse Specialty Insurance Company (Wilmington, DE), Transverse Insurance Company (Dallas, TX) and TRM Specialty Insurance Company (Indianapolis, IN), which collectively are referred to as Transverse...
Posted: Apr 04, 2023
Pen Underwriting has acquired Tay River Holdings and its wholly-owned marine specialist subsidiaries Vessel Protect, Trafalgar Marine Trades and BMM Ports & Terminals for an undisclosed sum. Established in 2020 by marine underwriters Paul Hart...
Posted: Apr 04, 2023
Barents Re, an independent reinsurance group, has appointed Jean-Yves Litampha as Head of Compliance. Litampha joins the reinsurer from Convex Insurance, where he also previously held the role of Head of Compliance. Prior to that, he spent just un...
Posted: Apr 04, 2023
Allianz Group has announced new leadership appointments for four of its largest Property and Casualty Commercial insurance markets: Australia, France, Germany and the United Kingdom. In each country, every Commercial lead will represent the integr...
Posted: Apr 04, 2023
Sompo International, a global provider of commercial and consumer property and casualty re/insurance, is expanding its operations in Switzerland with the granting of a Swiss insurance branch licence to write primary insurance by the Swiss Financia...
Posted: Apr 04, 2023
AM Best is maintaining its negative outlook on the United Kingdom’s non-life insurance segment, citing economic pressures, underwriting performance challenges and the limited availability of reinsurance protection as key drivers. The rating...
Posted: Apr 04, 2023
Global non-life specialty insurer R&Q Insurance Holdings has announced that its board is reviewing strategic options to separate its Program Management business, Accredited, and its Legacy Insurance business. R&Q states that its Program Ma...
Posted: Apr 04, 2023
Reflecting on the April renewals, James Vickers, Chairman International, Reinsurance at Gallagher Re, says “the tide is lifting all boats” across the reinsurance market as improved conditions were maintained from the earlier January period and swe...
Posted: Apr 04, 2023
Guernsey has overtaken Luxembourg to host the largest number of captive insurance structures in Europe, according to reports from Airmic, a UK association for risk and insurance professionals. Last year, Guernsey approved 12 new captive licences a...
Posted: Apr 04, 2023
Gen Re, the global reinsurance subsidiary of Berkshire Hathaway, has announced that both Margaret McAuliffe and Alexander Zeller have been appointed to the Executive Board of General Reinsurance AG. General Reinsurance AG is Gen Re’s German legal...
Posted: Apr 04, 2023