Reinsurance News
Erie Insurance has announced the appointment of Julie Pelkowski as Executive Vice President and Chief Financial Officer, effective May 1, 2023. Pelkowski is set to succeed Greg Gutting in the company’s CFO role, who will retire in April. As...
Posted: Dec 23, 2022
Atrium Underwriters Limited, the MGA for Lloyd’s Syndicate 609, has announced that it has come to the decision, together with the Marine Reinsurance Underwriter, that it will exit the Marine XL Reinsurance book of business. The exit will come into...
Posted: Dec 23, 2022
With the upcoming 1/1 reinsurance renewals looming closer, SiriusPoint’s Head of US and Canada Reinsurance, Ari Chester, spoke to Reinsurance News about the renewal season and the firm’s outlook. “This renewal season is an epiphany, a sudden...
Posted: Dec 23, 2022
PartnerRe CEO, Jacques Bonneau, has suggested that while the firm remains a reinsurance-focused operation, its recently announced expanded direct insurance presence will provide opportunities to source and write risks that may not be available to...
Posted: Dec 23, 2022
Lloyd’s global re/insurer, MS Amlin has announced it is strengthening its underwriting leadership team with new appointments within the division. Grant Baxter has been appointed Interim CUO, effective 1st January 2023, in addition to his reinsuran...
Posted: Dec 23, 2022
Legacy acquirer, DARAG Group has appointed Till Mathis Wagner as head of Mergers and Acquisitions in Europe, effective in the first quarter of 2023. He joins from Guy Carpenter where he was most recently managing director of strategic advisory Eur...
Posted: Dec 23, 2022
New catastrophe risk exposure data from the Bermuda Monetary Authority (BMA) shows that, for the year 2021, the net loss exposure assumed by Bermuda insurers increased by 9.76%, from $76.45 billion in 2020 to $83.92 billion. Analysts also reported...
Posted: Dec 23, 2022
Up to 34% of BMS Group’s share capital is to be acquired by French investment company Eurazeo, taking the broker’s value to £1.75bn. Eurazeo and its affiliates will join BMS alongside its existing shareholders British Columbia Investment Man...
Posted: Dec 23, 2022
A new survey from WTW has found that prices for US commercial insurance increased again during the third quarter of the year. A statement from the firm said that it had compared prices charged on policies underwritten during Q3 2022 to those charg...
Posted: Dec 23, 2022
HDI has announced its Distribution and Marketing teams of its UK & Irish operations, HDI Global SE and HDI Global Specialty SE, are being brought together under one team. The move will come into effect January 1, 2023. HDI has appointed Oliver...
Posted: Dec 23, 2022
Global insurance broker and risk advisor Marsh has announced the appointment of Siân French as Global Head of Coverage for Global Placement. Effective January 1, 2023, she will take up the new position, working closely with insurance partners to n...
Posted: Dec 23, 2022
International insurance broker Howden has announced plans to acquire Assimovie, a television, film and advertising insurance broker in Italy. The acquisition will make Howden the largest TV and Film production broking house in Italy and represents...
Posted: Dec 23, 2022
Following conversations with re/insurers and brokers in London ahead of the January renewals, analysts at JMP Securities have suggested the property market feels like a market where the reinsurers are firmly in control, and that this likely has le...
Posted: Dec 22, 2022
Rates will not increase for Ukraine grain cargo insurance as the ‘AsOne’ Black Sea facility – which provides cover for shipments via Ukraine’s grain export corridor – is to continue next year, Chris McGill, Ascot’s head of...
Posted: Dec 22, 2022
Great American Insurance Group has promoted Elizabeth B. Leaird and Kenneth B. Patrick to the role of Divisional President, effective January 3, 2023. Leaird will lead the Equine Mortality Division, whereas Patrick will lead the AgriBusiness Divis...
Posted: Dec 22, 2022
Munich Re’s global asset manager, MEAG, and EDF Renewables North America, have announced the closing on a strategic investment whereby a subsidiary of Munich Re acquired a 50% stake in two renewable energy projects in California, totalling 310 meg...
Posted: Dec 22, 2022
A new note from Fitch Ratings says that the US specialty insurers it examines have produced mixed results in terms of profitability for this month. The firm said it had looked at Factory Mutual Insurance Company (FM Global), Associated Electric &#...
Posted: Dec 22, 2022
Rating agency KBRA has revised its outlook from stable to negative for super-regional property and casualty insurance holding company, Heritage Insurance Holdings (HIH), citing continued operating losses and a significant equity decline. Analysts...
Posted: Dec 22, 2022
A new note from AM Best says that total income in the US life and annuity market rose 4.1% during the first nine months of the year. This was driven, wrote the firm, by a 7% increase in premiums and annuity considerations along with a 2.6% increas...
Posted: Dec 22, 2022
Arthur J. Gallagher & Co. has announced an agreement to acquire the partnership interests of BCHR Holdings, known as Buck, in the firm’s largest HR benefits acquisition to date, valued at $660 million. Buck is a leading provider of retir...
Posted: Dec 22, 2022
Sompo International, a global Bermuda-based specialty provider of property and casualty re/insurance, has appointed Christian Crozier as Senior Vice President, Head of UK Retail Casualty. Based in London, he will predominantly focus on the UK, and...
Posted: Dec 22, 2022
Insurance Europe has published a report supporting the integration of further sustainability risks in Solvency II. Insurance Europe notes that although requirements for insurers to integrate sustainability risks into their investment, underwriting...
Posted: Dec 22, 2022
Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia region, has granted an operating licence to Sukoon’s Syndicate 2880. The new office at DIFC will be led by Amey Masurkar as...
Posted: Dec 22, 2022
AM Best has upgraded the financial strength rating of Covéa Coopérations to A+ (superior) from A (excellent), and its long-term issuer credit rating to “aa-” (superior) from “a+” (excellent), while removing its status of under review with positive...
Posted: Dec 22, 2022
Dutch insurer NN Group, has published a Climate Action Plan which sets out a roadmap to reduce greenhouse gas (GHG) emissions to net-zero in its own operations by 2040, as well as in its investments and insurance underwriting by 2050. The plan als...
Posted: Dec 22, 2022