Reinsurance News
Re/insurance broker Aon has appointed Ronnie Tyler as a Senior Marine Broker in the firms Reinsurance Solutions division. Tyler joins Aon from Gallagher Re, where he previously served as a Divisional Director for just under four years. Prior to th...
Posted: Nov 28, 2022
Re/insurance broker Miller has announced three senior hires for its Solicitors’ Professional Indemnity (PI) team. Kerry Greenwood, Marianne McWilliams and Louise Chagas have all been appointed, and they will each report into Zarina Lawley, Head o...
Posted: Nov 28, 2022
Suncorp Group has appointed Rachel Yao to the position of reinsurance manager for group RI strategy. Yao, who has been with the firm since July 2019, began her new role last month. She had, for over three years, served as senior capital and reinsu...
Posted: Nov 28, 2022
The Coalition Against Insurance Fraud has released a report estimating that annually, insurance fraud costs the US $308.6 billion. In 1995, the Coalition estimated this number at $80 billion, though at the time, only the property & casualty in...
Posted: Nov 28, 2022
Broker and risk advisory firm, Marsh, has appointed Billy Aldous as Vice President, Cyber. Aldous joins Marsh from McGill and Partners, where he served as a reinsurance broker. Prior to McGill and Partners, Aldous spent three years working at AIG,...
Posted: Nov 28, 2022
Global consulting and actuarial firm Milliman has announced the release of Milliman Agile ALM, a software package that makes asset/liability management (ALM) and stochastic valuation accessible to insurers, helping them comply with Solvency II, IF...
Posted: Nov 28, 2022
Bermuda-based insurance and reinsurance holding company, Fidelis Insurance Holdings Limited, has received regulatory approval from all relevant regulators to create a new Managing General Underwriter (Fidelis MGU), separate from its existing balan...
Posted: Nov 28, 2022
Tysers Insurance Brokers has appointed Andrew Kendrick to be its new non-executive chair. The firm said that Kendrick will take up his position from the beginning of December, pending regulatory approval. In the meantime, Peter Haynes will remain...
Posted: Nov 28, 2022
Following the UK Government’s response to consultations over changes to Solvency II, re/insurance broker Aon has released a report highlighting the potential impact on the market, noting it will be a gradual process rather than an observable...
Posted: Nov 28, 2022
Markel International, a subsidiary of Markel Corporation, has announced that it will merge its professional and financial risks (PFR) division with its recently expanded cyber team. The decision to merge the two division together is part of the bu...
Posted: Nov 28, 2022
Analysts at investment bank Berenberg have reported that non-life and composite re/insurers in the European market appear to be “categorically bullish” on the outlook for pricing and their prospects for growth. The analysis follows calls with a nu...
Posted: Nov 28, 2022
Swiss insurer Helvetia Group has sold its stake in Spanish life insurer Sa Nostra Vida to Caixabank. According to the firm, the sale price was €262m and will return a high double-digit million profit for Caser. Sa Nostra Vida contributed ₣7.7m to...
Posted: Nov 28, 2022
US MGA, ShoreOne has announced the appointment of Brad Burton as Senior Vice President, Operations. Burton has more than 25 years of property and casualty industry experience, as well as a strong command of catastrophe management principles and ov...
Posted: Nov 28, 2022
Dubai-based Sukoon Insurance, formerly Oman Insurance, has acquired the life insurance portfolio held by Assicurazioni Generali in the UAE, following the original agreement to buy signed in February last year. The transfer, which covers unit-linke...
Posted: Nov 28, 2022
Tokio Marine Holdings, Inc. has increased its shareholding in PT Asuransi Tokio Marine Indonesia from 60% to 80% through its wholly owned subsidiary, Tokio Marine Asia Pte. Ltd. The stake was increased through acquisition of 20% of shares held by...
Posted: Nov 28, 2022
In a recent report, Peel Hunt has suggested there is further momentum ahead as the outlook for the reinsurance sector improves, complementing the already attractive returns being generated in the specialty insurance market. The firm proposes that...
Posted: Nov 25, 2022
Sompo International, a Bermuda-based specialty provider of P&C re/insurance, has announced the appointment of Glen Bronstein as Executive Vice President and Head of Insurance Claims for the North America Region – Bermuda, Canada, Mexico and th...
Posted: Nov 25, 2022
Liberty Mutual Reinsurance has promoted Vincent Gilardi to Head of International Treaty Casualty. Within this role, Gilardi will lead all casualty reinsurance international business for Liberty Mutual Re Gilardi joined Liberty Mutual Re in 2019 wh...
Posted: Nov 25, 2022
The ongoing war in Ukraine and the sizable losses it has caused to the re/insurance market, have pushed many industry bodies to make changes in war reinsurance programs. Because of this, some experts are predicting fairly seismic changes to the wa...
Posted: Nov 25, 2022
AmTrust Financial Services, a global specialty property and casualty insurer, has appointed Ryan Rivard as Senior Underwriter – Excess and Surplus (E&S) Specialty Casualty. Prior to joining AmTrust, Rivard served as Business Development Manage...
Posted: Nov 25, 2022
Global insurance firm AIG has appointed Lily Claydon as Chief Risk Officer for Asia Pacific (APAC). Claydon is a Chartered Financial Analyst with more than two decades of experience in financial services, insurance, regulatory environments and aud...
Posted: Nov 25, 2022
AXA XL has appointed Vanessa Leemans as Head of Cyber, UK & Lloyd’s, effective immediately. Within this new role, Leemans will be responsible for leading AXA XL’s cyber business in the UK, as well as driving its strategic and profitable develo...
Posted: Nov 25, 2022
Analysts at Fitch Ratings have warned that the underwriting profitability of QBE Insurance Group is expected to moderate over the next six to 18 months due to inflationary pressure and higher reinsurance costs. Fitch affirmed its Long-Term Issuer...
Posted: Nov 25, 2022
During a speech at the Insurance Institute of London, Institute President and Marsh CEO of UK & Ireland, Chris Lay, called attention to how regulatory barriers are preventing the UK from being recognised as a suitable location for captive insu...
Posted: Nov 25, 2022
According to Swiss Re Institute’s latest sigma report, global non-life insurance profitability will be challenged significantly in 2022 by weakness in both underwriting performance and investment results. Using a sample of the largest market...
Posted: Nov 25, 2022