Reinsurance News
Coalition has announced the formation of Ferian Re – an independent Bermuda-based Class 3B reinsurer that will provide capacity across Coalition’s cyber programs. Ferian Re will be capitalized with approximately $300 million from an investor group...
Posted: Oct 13, 2022
HDI Global Specialty UK has appointed Kirsten Westly to the role of Claims Director, taking over the role from Clare Constable who will leave HDI in November. Starting her new role in November, Westly will be reporting to Rafael Rebitzky, Managing...
Posted: Oct 13, 2022
Bermuda-based specialty insurer and reinsurer SiriusPoint has appointed Steve Yendall to be its new chief financial officer. The firm said in a statement that Yendall is moving over from Guy Carpenter in Canada and North America where he was manag...
Posted: Oct 13, 2022
Scandinavian insurance company, Tryg has reported a premium growth of 6.4% in the third quarter of 2022, compared to 5.9% from the same period last year. The increase was primarily driven by positive developments in the company’s Private and Comme...
Posted: Oct 13, 2022
Hampden Group has said that it is to rebrand its follow-only syndicate Verto (Syndicate 2689) to Hampden Risk Partners. The company said in a statement that the rebrand would better identify the syndicate with the Hampden Group and focus its purpo...
Posted: Oct 13, 2022
Professional services firm Aon has overhauled its UK commercial risk leadership team, with James Baum to take on the role of head of wholesale and specialty broking, while Jane Kielty will become head of commercial risk UK. While Baum will continu...
Posted: Oct 13, 2022
Zurich Insurance Group has announced the appointment of Penny Seach to the role of Group Chief Underwriting Officer, effective January 1, 2023. Seach currently serves as Chief Underwriting Officer EMEA, and will continue in this role through the e...
Posted: Oct 13, 2022
Rising energy prices and economic turmoil are leading to a dramatic shift in the insurance needs of UK companies, according to new research by RSA Insurance. RSA’s inaugural Broker Pulse, a representative survey of more than 200 brokers from acros...
Posted: Oct 13, 2022
A new report from the specialist Lloyd’s insurance and reinsurance marketplace and Aon, the global re/insurance brokerage, highlights a number of areas and risks that require further action from the industry to help improve resilience as the...
Posted: Oct 13, 2022
Property and casualty insurer United Insurance Holdings Corp. (UPC Insurance) has disclosed that it expects to incur $36.4 million of losses from Hurricane Ian in the third quarter of the year. This figure is net of expected reinsurance recoveries...
Posted: Oct 13, 2022
The risk most cited as a threat to the UK’s financial system is a cyberattack, according to the Bank of England’s Systemic Risk Survey. According to the bank, nearly three-quarters (74%) cited a cyberattack when asked to list the five risks most l...
Posted: Oct 13, 2022
Following approval now granted from the DNB (De Nederlandsche Bank), QBE has announced that it can now proceed with its plans to written business in the Netherlands incepting from January 2023. Plans for the branch were first announced in June, ea...
Posted: Oct 13, 2022
Advisory and broking solutions company, WTW has appointed Alain Dufraisse as Managing Director of its Luxembourg Captive and Insurance Management Solutions (CIMS) office. Within this role, he will report to Elizabeth Carbonaro, WTW CIMS regional l...
Posted: Oct 13, 2022
Danish marine insurance and service provider Codan Marine has entered a multi-year contract with AI insurtech Concirrus to improve risk insights and prediction to strengthen solutions for customers. Under the deal, Codan Marine has added Concirrus...
Posted: Oct 13, 2022
Digital platform Embroker has named David Derigiotis as its new chief insurance officer. The firm said in a statement that Derigiotis was coming onboard to lead the development of Embroker’s innovative insurance vertical products, particularly cyb...
Posted: Oct 13, 2022
Specialty Program Group LLC (SPG) and Program Brokerage Corporation (PBC), has announced that PBC is spinning off its general wholesale, environmental, construction, cyber and professional liability divisions to SPG and will operate under the bran...
Posted: Oct 13, 2022
Optimal risk-sharing is fundamental to a successful transition to carbon neutrality and in the battle against cyber-crime, according to Dirk, Wegener, President of the Federation of European Risk Managers (FERMA). Speaking at the FERMA Forum this...
Posted: Oct 12, 2022
Examiner-In-Charge Jim DeVoe-Talluto has been promoted to Assistant Director of Captive Insurance at the Department of Financial Regulation. DeVoe-Talluto succeeds Christine Brown in the role, who was recently promoted to Director of Captive Insur...
Posted: Oct 12, 2022
A new report from PwC says that 27% of companies have suffered a data breach leading to costs between $1m and $20m in the last three years. The survey, which the financial giant says was conducted amongst 3,500 senior executives in sixty-five coun...
Posted: Oct 12, 2022
Life insurance group Resolution Life is to become the strategic partner of asset manager Blackstone for new closed book transactions, including reinsurance, in the global life and annuity sector. A joint statement from the two companies said, in r...
Posted: Oct 12, 2022
AXA XL has promoted Michael McKinley to lead its Construction Primary Casualty Insurance business in North America. The firm said in a statement that McKinley will lead the continued growth of its Construction Primary Casualty business, helping co...
Posted: Oct 12, 2022
Lancashire Holdings (LRE) has indicated that it is likely to maintain its net property catastrophe footprint, shifting away from the expansion it has been pursuing since 2018. These remarks came from a roundtable that investment bank Peel Hunt hel...
Posted: Oct 12, 2022
The Louisiana Department of Insurance (LDI) has approved Louisiana Citizens’ request for a 63% rate increase on its residential property insurance policies beginning January 1, 2023. According to a statement from the LDI, the increase will not aff...
Posted: Oct 12, 2022
Marc Lipman, Attorney in Fact in Canada for Lloyd’s Underwriters and president of Lloyd’s Canada, provides a market update outlining opportunities for growth and development in the region’s (re)insurance sector. At the end of 2021, premium i...
Posted: Oct 12, 2022
A new study by flood risk modeller JBA Risk Management has revealed that adopting Property Flood Resilience (PFR) measures could have a major impact on projected flood losses in the UK, with a possible loss reduction of up to £453m a year. The rev...
Posted: Oct 12, 2022