Reinsurance News
Global advisory, broking and solutions company, WTW, has appointed Jamie Lee as Managing Director, Head of Upstream Energy, North America, in its Natural Resources business. Based in Houston, Lee will be responsible for delivering tailored advice,...
Posted: Oct 11, 2022
AXA XL has promoted Mike Gazzard to the role of Senior Vice President and E&O Product Line Leader of its Bermuda Insurance Professional Lines Team. Within this role he will report to Matthew Irvine, AXA XL’s Bermuda Professional Lines Chief Un...
Posted: Oct 11, 2022
Property and specialty re/insurer IQUW has appointed Kevin Fisher as President, reporting to Peter Bilsby, IQUW Group CEO. As President, Fisher will bring further re/insurance strategic client management leadership to accelerate IQUW’s profitable...
Posted: Oct 11, 2022
Acrisure has started to see increased evidence of capacity and pricing issues in different segments, from Californian residential wildfire exposure through to Property Catastrophe issues, said Grahame Millwater, President, Global Insurance at Acri...
Posted: Oct 11, 2022
Quod Orbis and Liberty Specialty Markets (LSM) have released a white paper report exploring the prospective future of cyber insurance, alongside the role data can play to enhance the understanding of risk. According to the report, global cyber ins...
Posted: Oct 11, 2022
Probitas 1492 has hired Ezeugo Aguta to be its new head of cyber strategy and innovation. The firm said in a statement that Aguta will spearhead the development of the firm’s technical capabilities. This will, said the company, be accomplished thr...
Posted: Oct 11, 2022
Specialist insurer Beazley has entered into a partnership with Certua to provide embedded specialist insurance for small scheme and programme business. Under the partnership, Beazley will use Certua’s Embedded Insurance platform to enable small sc...
Posted: Oct 11, 2022
International insurance broker Howden has announced the appointment of David Long as Chairman of its Equine division. Long will focus on growing Howden’s bloodstock client base, with a particular emphasis on the United Kingdom, the United States a...
Posted: Oct 11, 2022
Ardea Investment Management, a fixed income specialist, has launched a new tool developed specifically for optimising insurance portfolios and which addresses the complex asset allocation problem faced by insurers. According to the announcement, i...
Posted: Oct 11, 2022
According to a report from Moody’s, lingering supply chain disruptions from the pandemic and the Russia-Ukraine conflict are complicating strategic planning for US companies across a range of industries and upending predictability. The ramificatio...
Posted: Oct 10, 2022
AXA XL has announced the appointment of Florian Richard as Chief Risk Officer for the Americas and as Head of Underwriting Risk. Richard previously served as Head of Underwriting Risk, Reinsurance at AXA XL, having taken up this role in January 20...
Posted: Oct 10, 2022
A new report from AM Best says that the low number of large-severity catastrophe events in Latin America over the last three years has helped reinsurers in the region, even while pricing and claims costs are under pressure due to high inflation. T...
Posted: Oct 10, 2022
Paresh Patel, Chairman and CEO of HCI Group, Inc., has reported that his company is facing a total pre-tax net loss of $78 million from Hurricane Ian, with significant use of its reinsurance program to absorb costs. Speaking during a presentation...
Posted: Oct 10, 2022
A recent report by KBW suggests that Hurricane Ian could lead to $50bn of insured industry losses, with a likelihood of seeing global insured losses of more than $100bn in 2022. Industry loss estimates for Hurricane Ian somewhat vary, but remain h...
Posted: Oct 10, 2022
Tokio Marine Kiln (TMK) has announced the appointment of Kirsten Shastri as Head of Life Sciences as it targets growth in the sector. Shastri will underwrite a range of Life Sciences risks including traditional medical device and pharmaceutical co...
Posted: Oct 10, 2022
Analysts at JP Morgan have forecast that Swiss Re will incur a net loss of $399 million for the third quarter of 2022, largely due to the impact of Hurricane Ian, as well as loss creep on other catastrophe events and investment market volatility....
Posted: Oct 10, 2022
Analysts at Morgan Stanley have stated that this year’s third quarter will be challenging, especially as Hurricane Ian has highly contributed to capital drain. According to analysts Q3 2022 started off as a quiet quarter from a catastrophe p...
Posted: Oct 10, 2022
VIG Re, the reinsurance company of Vienna Insurance Group, has announced the appointment of Tobias Sonndorfer as a new member of the Board of Directors, with effect from 1st January 2023. Sonndorfer has broad experience in both financial services...
Posted: Oct 10, 2022
International re/insurance broker, Consilium, part of the Aventum Group, has appointed six financial lines specialists from Ed Broking. Neal Hughes and Nick Bachmann, previously Divisional Directors at Ed have been appointed Managing Partners at C...
Posted: Oct 10, 2022
According to Fitch Ratings, the recent revision of the UK’s outlook to negative has no immediate impact on UK life insurers’ ratings. Fitch expects the sector’s strong business profile and capital headroom to continue to underpin ratings in the hy...
Posted: Oct 10, 2022
Property and casualty firm Hallmark has sold its excess and surplus lines operations to Core Specialty. The company said in a statement that the transaction is taking place for $40m cash, plus an estimated $19.9m consideration for the acquisition...
Posted: Oct 10, 2022
Insurer and reinsurer Brit has said that it used aerial imagery to help expedite payments arising from Hurricane Ian. The firm said it had used a proprietary machine learning algorithm in tandem with ultra-high-resolution ariel imagery to accelera...
Posted: Oct 10, 2022
AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of IRB Brasil Re. The outlook assigned to these Credit Ratings...
Posted: Oct 10, 2022
Jim Bichard, Global Insurance Leader for PwC, has urged the insurance and reinsurance industry to seek bolder collaboration with governments and public bodies to handle the largest risks facing the market. Speaking to Reinsurance News at the recen...
Posted: Oct 10, 2022
According to the latest UK Insurance Sentiment Index conducted by PwC in collaboration with DataEQ, inaccessible digital platforms and a lack of online service capabilities are impeding the overall customer experience for UK-based insurers. The in...
Posted: Oct 10, 2022