Reinsurance News
Consilium, the international re/insurance arm of Aventum, has appointed Simon Richardson to launch its new cedant driven FAC reinsurance division. Richardson has been named Managing Partner of the new division and following his notice period, will...
Posted: Jan 23, 2023
European P&C insurance run-off group Marco Capital Holdings Limited has completed its Part VII transfer of Allianz Suisse liabilities concerning the remaining risks in Allianz Suisse’s UK Branch, known as The Gibbon Pool. According to the anno...
Posted: Jan 23, 2023
Aon’s Reinsurance Aggregate (ARA), which analyses the financial results of 22 companies that underwrite more than 50% of the world’s life/non-life reinsurance premiums, has reported a net combined ratio across the companies of 98.2%. The ARA notes...
Posted: Jan 23, 2023
Howden Tiger has announced the creation of a new broking division, Howden Tiger Fac, which merges Facultative, Consortia, Facilities expertise and Specialty Reinsurance capabilities from across the newly combined business. Gordon Craig, who has be...
Posted: Jan 23, 2023
Veronica Scotti, Chairperson Public Sector Solutions at Swiss Re, has urged the private business sector to work more closely with governments and other public sector bodies to meet the “monumental” adaptation needs of climate change. Writing in a...
Posted: Jan 23, 2023
Korean Re Switzerland, the Zurich-based subsidiary of Asian reinsurer Korean Re, has announced the appointment of Nurhana Tajuddin as Head of Pricing and Analytics. In her new role, Tajuddin will drive the development and strengthening of the pric...
Posted: Jan 23, 2023
A new report by global insurance industry collaboration ClimateWise has found that its member companies have made progress in disclosing their preparedness and response to climate change. It also highlighted the need for insurers, reinsurers and b...
Posted: Jan 23, 2023
Insurance broker Howden has appointed Matthew Strong as Managing Director, Credit and Political Risks, Howden CAP. In this role, Strong will be based in London, and he will be a member of Howden CAP’s Executive Committee. Howden CAP focuses on fou...
Posted: Jan 23, 2023
Analysts at KBW expect reinsurers’ core loss ratios to decline year-on-year, with some core margin volatility stemming from modest catastrophe losses and business mix changes. The comments came as part of a reflection on Q4 2022 earnings and the r...
Posted: Jan 23, 2023
Industry veterans Oliver Schofield and Malcolm Cutts-Watson have announced that they plan to merge their two consultancy businesses – RISCS and CWC – of which they are Managing Partner and Founder, respectively. Founded by Schofield in 2012, Risk...
Posted: Jan 20, 2023
Gallagher has announced that it has appointed Louise Piper as Head of Strategic Account Management, where she will report to Specialty CEO, Jonathan Turner. In the role, she will be responsible for the management of Gallagher’s offering to large m...
Posted: Jan 20, 2023
Amid growing concern over the safety net provided by the private sector, insurers have held discussions with the UK government over whether its terrorism reinsurance scheme should cover state-backed cyber attacks, suggests a report from the Financ...
Posted: Jan 20, 2023
Catastrophe risk modeller Moody’s RMS has announced that over 100 active clients across insurance and finance markets have adopted applications and services on the Moody’s RMS Intelligent Risk Platform (IRP). According to the firm, the platform ha...
Posted: Jan 20, 2023
The Vermont Department of Economic Development hosted its “Captive Insurance Day” event earlier this month to highlight the continued success of the captive insurance industry in the state after it saw another successful year in 2022. Throughout 2...
Posted: Jan 20, 2023
Analysts at JMP Securities have concluded that reinsurers are “firmly in control” of pricing and terms following the January 1 renewal period, with favourable conditions likely to remain in place beyond 2023. JMP made this assessment of the market...
Posted: Jan 20, 2023
National insurance program manager, Distinguished Programs has entered into a partnership with SiriusPoint Ltd., to expand into Environmental, Construction Pollution and Professional Insurance. Under the agreement, SiriusPoint’s Environmenta...
Posted: Jan 20, 2023
Analysts at JP Morgan have estimated Q4 global catastrophe insured losses of less than $10 billion. The analysts attribute this largely to two large natural catastrophes in North America, Hurricane Nicole in November and Winter Storm Elliott in De...
Posted: Jan 20, 2023
CRC Group, a wholesale specialty insurance distributor in North America, has appointed Kristyn Smallcombe as Casualty Practice Group Director, within the Commercial Solutions Division. Based in Chicago, Smallcombe will start her new role on Januar...
Posted: Jan 20, 2023
Aspen Insurance Holdings has announced the appointment of Chris Lee as Chief Operating Officer of Aspen Capital Markets, the alternative reinsurance arm of Aspen. In the new role, Lee will be responsible for driving strategic investments in techno...
Posted: Jan 20, 2023
Nexus Underwriting, an independent specialty Managing General Agent (MGA), has appointed Farah Rostamzad as Head of Trade Credit, a Paris-based role. Originally trained in insurance law, Rostamzad spent some time at Cabinet Bardon and LOYER &...
Posted: Jan 20, 2023
According to WTW’s latest de-risking report, the defined benefit (DB) pensions de-risking market is expected to see one of its biggest years on record in 2023, with at least £40 billion in bulk annuity transactions, and £20 billion in longevity he...
Posted: Jan 20, 2023
The Board of the Texas Windstorm Insurance Association (TWIA) has voted to purchase $2.9 billion in reinsurance for 2023, which combined with $2.28 billion in statutory funding, would take the association’s total funding for the upcoming sto...
Posted: Jan 20, 2023
Insurance giant Sompo International has announced the opening of a new office in Birmingham, England, making it the firms first UK office outside of London. Located at The Colmore Building in the Colmore Business District, Birmingham’s main busine...
Posted: Jan 20, 2023
Insurance broker and risk advisor Marsh, has announced three new leadership appointments in Europe. Nilay Ozden was named Leader of Marsh Specialty, Europe. Cristian Fugaciu and Artur Grzeskowiak were appointed co-CEOs, Central & Eastern Europ...
Posted: Jan 20, 2023
Tysers, an independent Lloyd’s broker and part of AUB Group, has announced that in early 2023, it will welcome more than 20 new hires to the business. They will join divisions across the business, including North America P&C, Marine & Avia...
Posted: Jan 20, 2023