Reinsurance News
WTW, a leading global advisory, broking, and solutions company, has announced the appointment of Evan Freely as Global Head of Financial Solutions. Based in New York, Freely will be reporting to Alastair Swift, Head of Global Lines of Business, Ri...
Posted: Dec 12, 2022
Florida-based primary insurer, FedNat Holding Company, has announced that it and certain wholly-owned subsidiaries have filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S., with the company set to explore all strategic al...
Posted: Dec 12, 2022
Richard Dudley, Global Head of Climate Strategy at Aon, has been elected as a Working Member of the Lloyd’s Council, effective 1 February 2023. Dudley has been working in the Lloyd’s market, the world’s leading marketplace for commercial, corporat...
Posted: Dec 12, 2022
Ardonagh Specialty, part of the Ardonagh Group, has signed a new agreement with RMS, a Moody’s Analytics company and risk modelling and solutions company, to reinforce its U.S. and wildlife capabilities. Through this partnership, Ardonagh Specialt...
Posted: Dec 12, 2022
Leading global specialty re/insurer, Canopius Group, has appointed James Pearson as UK Chief Financial Officer, Canopius Managing Agency, subject to regulatory approval. Within this role, Pearson will report to Canopius Group Chief Financial Offic...
Posted: Dec 12, 2022
Professional services firm Aon has joined the Global Earthquake Model (GEM) Foundation. The firm said it was joining the non-profit public-private partnership that develops and distributes models and data for a transparent assessment of earthquake...
Posted: Dec 12, 2022
Research from Chaucer indicates that the cost of insuring against sovereign debt defaults has increased by 102% over the past year. According to the firm, the twelve months has seen the cost of Credit Default Swaps used to insure against a default...
Posted: Dec 12, 2022
Sompo International, a global provider of commercial and consumer property and casualty re/insurance, has announced the appointment of Lawrence Doyle as Chief Operating Officer (COO), Global Markets. In his new role, he will be responsible for ope...
Posted: Dec 12, 2022
Swiss Re, one of the world’s largest reinsurers, has announced it is setting up a new broker-dedicated Key Account Management team to be led by Matthias Meyenhofer. According to the announcement, this team will play a pivotal role in helping...
Posted: Dec 12, 2022
Global reinsurer Munich Re and JiuGe Technology, subsidiary of mobile data and services company FingerMotion, are ready to launch their new behavioural rating services platform for commercial use. Through a proprietary behaviour intelligence syste...
Posted: Dec 12, 2022
Fitch Ratings suggests its neutral outlook for the Chinese non-life market reflects its view that the sector will maintain a sound solvency buffer and steady premium growth, alongside its expectation that insurers’ flexibility to raise capital in...
Posted: Dec 12, 2022
Underwriting company, Mosaic Insurance has partnered with Safe Security to use its award winning SAFE platform to help underwrites evaluate cyber risks for brokers and insureds. The platform offers a real-time view of the extent and nature of a co...
Posted: Dec 12, 2022
The Africa Risk Capacity has launched its own parametric insurance product against high-impact epidemic risks. In a statement, the organisation said that Senegal was to be the first African country to join this new innovative financing mechanism....
Posted: Dec 12, 2022
The African Risk Capacity has launched its own parametric insurance product against high-impact epidemic risks. In a statement, the organisation said that Senegal was to be the first African country to join this new innovative financing mechanism....
Posted: Dec 12, 2022
Analysts at WTW have observed a “significant flight to quality” in the reinsurance market as insurers use the hardening market to ‘housekeep’ their existing portfolios prior to focusing on new business. The broker’s Insurance Marketplace Rea...
Posted: Dec 09, 2022
Specialty lines insurer AXIS has appointed Andy Maher of head of cyber and technology in London. In his new role, Maher leads the London-based team of underwriters, and will focus on developing the team and enhancing the range of products and serv...
Posted: Dec 09, 2022
The Reinsurance Association of America (RAA) and The American Property Casualty Insurance Association (APCIA) have released statements praising the passage of the Community Disaster Resilience Zones (CDRZ) Act of 2022 by the U.S. House of Represen...
Posted: Dec 09, 2022
The online reinsurance pricing and placing platform Tremor Technologies says that half of participating reinsurers authorise capacity within a day, with full program capacity received in fewer than three days. Sean Bourgeois, CEO of Tremor, said:...
Posted: Dec 09, 2022
Specialty insurance and technology provider HSB, a US subsidiary of Munich Re, will expand its suite of risk management technologies and financial protections through a strategic agreement with Schneider Electric. The firm said in a statement that...
Posted: Dec 09, 2022
The UK Government has committed to making “substantial legislative progress” over the course of 2023 on repealing and replacing EU-era Solvency II, in an effort to unlock over £100 billion of private investment for productive assets su...
Posted: Dec 09, 2022
Re/insurance broker WTW has announced the appointment of Derric Howard to the role of EMEA Head of Commercial Lines Transformation, within its Insurance Consulting and Technology (ICT) business. He will be based in London and work with European in...
Posted: Dec 09, 2022
New data from cyber specialist Corvus Insurance has found that fraudulent funds transfer (FFT) and ransomware are the top drivers of cyber loss in 2022, accounting for over 50% of all claims combined. FFT alone comprised 36% of all claims in Q3, C...
Posted: Dec 09, 2022
Global advisory, broking, and solutions company WTW has announced the appointment of James Sallada as Head of Casualty within Corporate Risk and Broking (CRB), North America. He joins from Marsh where he has worked for the previous 20 years, most...
Posted: Dec 09, 2022
Swiss Re has proposed changing the makeup of its board, saying that it is nominating Vanessa Lau and Pia Tischhauser for election as new members. The moves come ahead of the firm’s upcoming AGM in April. It also said that current board members Ren...
Posted: Dec 09, 2022
Even though the global reinsurance segment remains well capitalised, market players are being cautious with the deployment of resources, according to AM Best analysts. One of the key drivers for capital growth was the increase in investment values...
Posted: Dec 09, 2022