Reinsurance News
Insurtech Accelerant names Protecdiv COO Paul Little to Board of Directors. Little brings more than three decades of leadership and management experience in the insurance, reinsurance and risk analytics industries, towards the role Previously, Lit...
Posted: Dec 14, 2022
Florida’s property insurance reform bill has now been passed by the state Senate in a 27 to 13 vote that was along mostly party lines. Just one Democrat approved the Republican-brought bill, though two Republican senators voted against it. The pro...
Posted: Dec 14, 2022
Re/insurance broking firm, Arthur J. Gallagher & Co. have acquired St. Cloud, Minnesota-based Mahowald Insurance, LLC. Terms of the transaction were not disclosed. Founded in 1930, Mahowald is a retail insurance agency that offers commercial a...
Posted: Dec 14, 2022
QBE has appointed Rob Stone as Chief Financial Officer (CFO) for its International Division – QBE International. Stone has been with the company for over 14 years. Most recently, he managed Equator Re, QBE’s inward reinsurance facility, befo...
Posted: Dec 14, 2022
Concert has appointed John Hendrickson as CEO. The firm said that Hendrickson will take up his role at the beginning of January, succeeding Jonathan Reiss. Reiss, the firm said in a statement, will remain on Concert’s board and provide his experti...
Posted: Dec 14, 2022
Rothesay, the UK’s largest specialist pensions insurer, has completed a £1.2 billion full scheme buy-in with The Bank Section of the Co-operative Pension Scheme. The Section is sponsored by The Co-operative Bank the Manchester-headquartered...
Posted: Dec 14, 2022
Analysts at KBW have reported that secondary perils that had previously been reinsured are now being “aggressively pushed back” toward primary insurers ahead of the January 1st reinsurance renewals. KBW provided some comments on the state of the g...
Posted: Dec 14, 2022
Lockton, a privately-owned independent insurance broker, has announced the appointment of Ben Milan as Vice President and Surety Practice Leader within the Lockton Global Real Estate & Construction (GREAC) division. In his new role, Milan will...
Posted: Dec 14, 2022
International insurance broker Howden has announced the appointment of Marc Lehmann as Head of Climate Analytics. Lehmann brings an array of both modelling and engineering experience to the role, having previously held senior Catastrophe, ESG, Cli...
Posted: Dec 14, 2022
Jared Wilner has joined law firm Mayer Brown as a partner in its Corporate & Securities practice and Global Insurance Industry Group in New York. He focuses his practice on advising domestic, foreign and alien insurers, reinsurers, insurance i...
Posted: Dec 14, 2022
New data from AM Best shows that Germany’s Allianz continues to hold on to its position as the largest European non-life insurer, based on gross premiums written for 2021. Allianz topped the rating agency’s table of the 30 largest insurers, boasti...
Posted: Dec 14, 2022
London FOIL, a division of the Forum of Insurance Lawyers (FOIL), has elected Toby Vallance, Partner at international law firm DAC Beachcroft, as President. He succeeds Gavin Coull of law firm Birketts, who acted as President during a particularly...
Posted: Dec 14, 2022
Insurance Europe has released a report highlighting a number of significant changes needed to the European Commission’s proposal for an Insurance Recovery and Resolution Directive (IRRD) that would make it fit for purpose and avoid subjecting insu...
Posted: Dec 14, 2022
Keystone Insurers Group has announced it has entered into a definitive agreement to merge New Jersey Agents Alliance (NJAA) into its nationally ranked network. Terms of the transaction were not disclosed, though Keystone has confirmed NJAA’s 22 me...
Posted: Dec 14, 2022
AM Best has revised its market segment outlook on the China non-life insurance industry to stable from negative due to the segment’s improved underwriting performance and better growth prospects as China eases its zero-tolerance COVID-19 policy. T...
Posted: Dec 14, 2022
Beat Capital Partners and industry figure Kevin Wolfe are teaming up to launch specialty marine underwriting agency Marcato Marine Insurance Services. The pair said in a joint statement that Wolfe would be the president and CEO of the company, wit...
Posted: Dec 14, 2022
Crypto insurance company Evertas has announced the successful closure of a series A financing round. Led by Polychain Capital, the round raised $14 million, and in addition to a $5.8 million seed financing, this puts the company’s total outside in...
Posted: Dec 14, 2022
There is likely to be a sharp reduction in available nat cat reinsurance capacity at upcoming renewals following a climate change-induced increase in the frequency and severity of European nat cat events, suggests Clyde & Co’s Eva-Maria...
Posted: Dec 13, 2022
Lloyd’s Council has granted ‘in principle’ approval to Lime Syndicate Management to be the first managing agency in Lloyd’s since Reconstruction & Renewal over 25 years ago, established solely to provide management services for third-party syn...
Posted: Dec 13, 2022
Fintech firm Acrisure has expanded its insurance leadership team. The firm said in a statement that the updated team includes Matthew Kirk, president for North American retail; Andy Schutt, head of global insurance operations; and Bob Arowood, pre...
Posted: Dec 13, 2022
In light of the hardening reinsurance market environment, insurance and reinsurance broker Gallagher has called on the Texas Windstorm Insurance Association (TWIA) to begin its reinsurance planning and buying as soon as possible. TWIA’s Boar...
Posted: Dec 13, 2022
Swiss Re Corporate Solutions, a division of the global reinsurer, has announced the appointment of Allen Kwan as Head of Customer & Distribution Management of North America, effective January 1, 2023. In this New York based role, he will overs...
Posted: Dec 13, 2022
The Bermuda-based reinsurance arm of Legal & General Group, Legal & General Reinsurance Company No. 2, has launched to target the Canadian pension risk transfer market and has been assigned a Financial Strength Rating of A (Excellent) and...
Posted: Dec 13, 2022
Fitch Ratings’ 2023 outlook report for US property and casualty (P&C) insurers says that operating earnings are set to stabilise following a number of external challenges in 2022. The firm said that sharp declines in personal auto results, lar...
Posted: Dec 13, 2022
Kingstone Companies, Inc., an American P&C insurance holding company, has entered into a Note and Warrant Exchange Agreement with several holders to refinance its outstanding 5.50% Senior Notes due on December 30, 2022. The Exchanging Notehold...
Posted: Dec 13, 2022