Reinsurance News
Legal & General Retirement America (LGRA), has hit a historic milestone by completing more than $2 billion in transactions in 2022. This includes the firm’s two largest deals to date at over $500 million each. The company completed a total of...
Posted: Dec 20, 2022
Broking and solutions company WTW has appointed Tom Haddrill as Regional Head of Broking for Central and Eastern Europe, Middle East and Africa (CEEMEA). Haddrill starts his new role February 20, 2023 and he will be based in London. In this role h...
Posted: Dec 20, 2022
Specialist re/insurance broker BMS has appointed Mike Duffy as a strategic adviser to its UK specialty business. Duffy was appointed by Ian Gormley, UK CEO of BMS, and his appointment comes into effect in January 2023. Overall, Duffy brings more t...
Posted: Dec 20, 2022
Vincent C. Tizzio has been named future Chief Executive Officer (CEO) of AXIS as Albert A. Benchimol, the company’s current CEO, is to retire following a re/insurance and banking career that has spanned over four decades. After spending ten years...
Posted: Dec 20, 2022
AXA XL Re, the reinsurance arm of AXA’s property & casualty and specialty risk division, has announced the appointment of Tristan Abend to the newly expanded position of Head of Property, responsible for both US & International busin...
Posted: Dec 20, 2022
Insurance and reinsurance broker Lockton has released a report suggesting the property sector is casting a major shadow over the market, despite conditions in other lines remaining largely predictable. In its report, Lockton explains that the P...
Posted: Dec 20, 2022
Insurance brokerage BroadStreet has appointed Michael O’Connor to the role of CEO following a decision from its board of directors. The firm said in a statement that O’Connor joined in June 2022 after twelve years at Aon where he had been co-presi...
Posted: Dec 20, 2022
The North American Corporate Risk and Broking (CRB) division of WTW has launched a new strategy that looks to enhance its client proposition through aligning the entire value-chain of internal resources through industry specialisation. A statement...
Posted: Dec 20, 2022
AXA XL has appointed Felix Winzap to the roles of Global Head of Credit and Surety and Head of Reinsurance, Switzerland, according to a post on the firm’s official Linkedin page. The post said that Winzap will be responsible for leading the Zurich...
Posted: Dec 20, 2022
European B2B2C insurer Wakam, has announced that Wakam’s Syndicate 1347 has received Lloyd’s approval to start underwriting for the 2023 year of account. The syndicate was launched under Lloyd’s Syndicate in a Box (SIAB) initiative and will operat...
Posted: Dec 20, 2022
Pen Underwriting has announced the launch of a new regional claims hub in Chelmsford dedicated to managing commercial property and liability claims, appointing Paul Clayton as Senior Claims Handler, and naming Simon Jenkinson and Annahita Mansourp...
Posted: Dec 20, 2022
Moody’s has upgraded the insurance financial strength (IFS) ratings of Talcott Resolution Life Insurance Company and Talcott Resolution Life and Annuity Insurance Company (TLA) to Baa2 from Baa3, the outlook of the Talcott entities remains positiv...
Posted: Dec 20, 2022
Professional services firm Aon has appointed Paloma Quiroga Arias as Head of Articulating Value, Reinsurance Solutions. In this role, she will support Aon’s long term global growth strategy, developing and tailoring value propositions that m...
Posted: Dec 20, 2022
Global insurer AXA has appointed Bernardo Serrano Lopez as new President and Chief Executive Officer of its Philippines business. Serrano Lopez joins AXA Philippines after a nine-year tenure at AXA Colpatria. Based in Colombia he most recently ser...
Posted: Dec 20, 2022
Catastrophe loss aggregator PERILS has released a second industry loss estimate for Typhoon Nanmadol, raising its initial insured loss figure from JPY 114 billion (USD 860 million) to JPY 120 billion (USD 910 million). At this level, PERILS analys...
Posted: Dec 20, 2022
A new article from reinsurance giant Swiss Re on economic and financial risk states that it expects to see central banks continue to hike interest rates, with inflation falling towards target levels in 2024. The firm said in the note that it expec...
Posted: Dec 20, 2022
With an expected turnaround in the fortunes of the property re/insurance markets throughout 2023, Beazley’s Group Head of Treaty, Patrick Hartigan, suggests the firm is ready to step up and support insurers and commercial buyers to find cover as p...
Posted: Dec 20, 2022
Analysts from Keefe, Bruyette & Woods (KBW) have warned that shareholders in AXIS Capital could find themselves disappointed next year over growth in reinsurance premiums. The firm said in a new, eleven-page note that it had downgraded shares...
Posted: Dec 20, 2022
The Reinsurance Advisory Board (RAB) has raised a series of concerns regarding references to reinsurance in a consultation by De Nederlandsche Bank (DNB) on insurer resolvability. The RAB states that its response relates to Article 9.2d, which sti...
Posted: Dec 20, 2022
Allianz Global Corporate & Specialty (AGCS) has installed an established, dedicated in-house organisation for Environmental, Social & Governance (ESG) activities. The firm has made several high-level leadership roles and appointments for t...
Posted: Dec 20, 2022
DUAL Europe has appointed Francesca Giurato with the dual roles of Underwriting Director, Fine Art, DUAL Europe. Giurato is based in Milan, Italy and brings a strong level of industry experience towards her new role. She previously worked at Chub...
Posted: Dec 20, 2022
Insurance giant Sompo International has completed the sale of its run-off business Endurance at Lloyd’s (EAL) to RiverStone Holdings. The firm said in a statement that it had received regulatory approval from the UK Presidential Regulation Authori...
Posted: Dec 20, 2022
Global reinsurance giant SCOR, has announced the renewal for three years, of a contingent capital facility that will provide the firm with additional capital of up to €300 million of coverage against extreme natural catastrophes or life events imp...
Posted: Dec 19, 2022
Florida governor Ron DeSantis has signed two bills, one of which is said to be the most-important insurance reform in the state in recent history. Senate Bill 2-A looks to further reform the state’s property insurance market through a number of ac...
Posted: Dec 19, 2022
Verisk Insurance Solutions’ Head of PCS, Tom Johansmeyer, spoke with Reinsurance News about the types of risks that cedents should be keeping front of mind for 2023. “Cat is obviously top of the list, with a particular focus on Florida. That’s bec...
Posted: Dec 19, 2022