Reinsurance News
Specialist re/insurance broker Miller has announced the launch of D&O Construct, a new product for the UK construction sector, designed exclusively with DUAL. According to Miller, the product is designed to support a variety of occupations acr...
Posted: Dec 09, 2022
Analysts at Swiss Re Institute have warned that the impact of Hurricane Ian on an already strained re/insurance market in Florida will likely be significant and extend globally. Losses from Ian, which are expected to be in the $50-60 billion range...
Posted: Dec 09, 2022
Aon’s UK head of commercial risk Jane Kielty has been named deputy chair of the British Insurance Brokers’ Association (BIBA). A statement from BIBA said that Kielty, head of commercial risk UK, has been on the board since taking the chair of BIBA...
Posted: Dec 09, 2022
AmTrust Financial Services, global specialty property and casualty insurer, has announced the appointment of two new members to its Property Insurance division, as it looks to further grow its Property book in the UK and other European markets. An...
Posted: Dec 09, 2022
The Ardonagh Group has selected AutoRek, a leading software provider to global financial services firms, as the group is looking to drive efficiency in key back and middle office Insurance Broker Accounting (IBA) processes using intelligent automa...
Posted: Dec 09, 2022
The ASEAN region will have to find more than $800 billion of investment for energy supply in order to meet its expected demand for power in 2050, according to a new report by Malaysian Re. The 2022 ASEAN Insurance Pulse report by the reinsurer say...
Posted: Dec 09, 2022
Analysts at AM Best have warned ahead of the second special session of Florida lawmakers that further insurer insolvencies are possible if “immediate and substantive” long-term reforms aren’t realised. Governor of Florida, Ron DeSantis, has called...
Posted: Dec 08, 2022
SiriusPoint has appointed Rob Gibbs as president of its international business as well as CEO of SiriusPoint International Insurance Corporation. Gibbs is set to join the company next week and, based in London, will be responsible for driving grow...
Posted: Dec 08, 2022
Insurance and reinsurance broker Lockton has announced the addition of Sara Romine as US General Counsel, based in Kansas City. Romine succeeds Ann Abercrombie, who retired in May after 18 years with Lockton. She joins Lockton from AT&T, where...
Posted: Dec 08, 2022
AmericanAg, a global provider of reinsurance services, has appointed Stefan Mumm as Assistant Vice President, Underwriting/Marketing. Within this role, Mumm will be responsible for underwriting a portion of the firm’s Broker Assumed domestic...
Posted: Dec 08, 2022
HSB, a specialist engineering and technology insurer and part of Munich Re, has appointed Ian Fox as UK Head of Sales. Based in Manchester, Fox will be reporting to Paul Kay, Director of Sales and Distribution. He will lead HSB’s UK team of Region...
Posted: Dec 08, 2022
A new report from WTW says that recent trends suggest rate increases will continue, albeit at a ‘materially reduced’ rate. The report, called the Spring 2023 Insurance Marketplace Realities Report says that commercial insurance rates are beginning...
Posted: Dec 08, 2022
In the current market environment more companies are interested in exploring the wide range of solutions Alternative Risk Transfer can offer, like structured insurance – multi-year, multi-line coverages – and captive solutions, according to Grant...
Posted: Dec 08, 2022
Chubb has appointed Alex O’Brien as its new head of cargo for its wholesale and specialty business Chubb Global Markets (CGM). The firm said in a statement that O’Brien will be responsible for leading the development and management of the CG...
Posted: Dec 08, 2022
Alpha Growth Plc, a financial services specialist in the life insurance and longevity asset class, has announced that it has completed a share purchase acquisition of Old Mutual International (Guernsey) Ltd. Following completion of the acquisition...
Posted: Dec 08, 2022
Seoul-based reinsurer Korean Re has become the first reinsurer to obtain a patent protection for its financial evaluation model. Life insurers have been under pressure from financial authorities to set out criteria for evaluating the financial abi...
Posted: Dec 08, 2022
Beazley Smart Tracker Syndicate 5623 has been granted Lloyd’s approval, meaning it will move from a Special Purpose Arrangement to full syndicate status. A statement from Beazley said that the approval will be effective from the beginning of Janua...
Posted: Dec 08, 2022
Insurance data provider PERILS has given an initial industry loss estimate for the flooding in Southeast Australia of AUD $791m. This estimate is in reference to the flooding that affected New South Wales, Victoria, and Tasmania, between 12 and 28...
Posted: Dec 08, 2022
The outlook for the global life insurance sector overall is stable as rising interest rates boost investment incomes for insurers and improve the profitability of guaranteed products, says Moody’s Investment Service in a new report. The firm said...
Posted: Dec 08, 2022
Zurich has named Frank Steidl as its new UK head of commercial insurance. Steidl, who currently holds the role of UK head of energy, marine, and construction, will take up his new role on 1 January. Previous roles within the firm, include that of...
Posted: Dec 08, 2022
Global advisory and broking solutions company WTW has announced the addition of Sam Berry to its Direct and Facultative team in London. Berry has been hired as new Claims Advocate. She brings two decades of experience handling North American prope...
Posted: Dec 08, 2022
Fusion Specialty, a specialist M&A managing general agent (MGA), and io.insure, an M&A tech specialist, have lauched Mio, the first M&A insurance online for small-to mid-sized businesses to address the significant risk protection gap w...
Posted: Dec 08, 2022
Allianz Commercial has promoted Kuldip Kang to the position of claims proposition manager. In her new role, Kang will oversee the propositions, communications, customer experience, and claims relationship manager (CRM) teams. She joined Allianz ni...
Posted: Dec 08, 2022
Insurtech leader, Zywave has launched a new solution for the insurance market aimed at enhancing the value delivered by insurers, MGAs, and third parties to the UK retail broker market. The offering is an extension to Zywave’s Broker Briefcase, a...
Posted: Dec 08, 2022
Jon Drummond, Head of Broking, North America at re/insurance broker WTW, has claimed that the “grip of the hard market is loosening” despite some upward pressures across lines. Writing in the latest Marketplace Realities report from WTW, Drummond...
Posted: Dec 07, 2022