Reinsurance News
UK regulator the Financial Conduct Authority (FCA) has undertaken a review of the claims handling process for business interruption claims related to COVID-19, and has raised concerns in some areas. Overall, the FCA concluded that insurers paid ou...
Posted: Oct 06, 2022
Global professional services firm, Aon, has expanded its data and analytics capabilities for reputational risk with the acquisition of advanced analytics and advisory services provider, Pentland Analytics’ reputation crisis database. The transacti...
Posted: Oct 06, 2022
Iain Pearce, Senior Risk Transfer Consultant at actuarial and advisory consultancy firm Hymans Robertson, has said that he expects to see a “very busy” de-risking market to continue despite recent volatility in the UK gilts market. UK financial ma...
Posted: Oct 06, 2022
For the first time in five years, the West of England P&I Club, an insurance provider to the global maritime and offshore industries, has reported that it has returned an underwriting surplus in its 20 August financial results, with a combined...
Posted: Oct 06, 2022
Ardonagh Specialty, the holding company and growth platform for The Ardonagh Group’s portfolio of specialist reinsurance and wholesale broking brands, has announced it has agreed to acquire Lloyd’s broker Oxford Insurance Group. Upon complet...
Posted: Oct 06, 2022
Specialist insurer Beazley has hired Rogier van Ommeren as a financial lines underwriter, extending its Benelux Team. In the new role, van Ommeren will be responsible for underwriting Beazley’s financial lines book of business in Benelux, working...
Posted: Oct 06, 2022
International insurance broker Howden has announced the acquisition of independent French marine broker Seasecure Group. The acquisition of Seasecure Group, is one of France’s largest Marine and Cargo insurance brokers, is expected to help Howden’...
Posted: Oct 06, 2022
Oliver Wyman, a global management consulting firm and business of Marsh McLennan, has announced the establishment of a new actuarial practice in the Asia Pacific region and that Marco Warmelink, based in Hong Kong, will lead the team. Warmelink ha...
Posted: Oct 06, 2022
AXA CEO Thomas Buberl has drawn attention to the series of crisis the globe finds itself in a recent radio interview in France. Speaking to France Inter, Buberl said that everything must be done in order to avoid recession, no matter the difficult...
Posted: Oct 05, 2022
Aon plc, a leading global professional services firm, has appointed Paul Shedden as its global and UK head of analytics in the firm’s Reinsurance Solutions. Within this role, he will be based in London. Shedden will join the firm on October 17th f...
Posted: Oct 05, 2022
According to a report from Moody’s, M&A and disposition activity within the US life insurance sector will continue in 2022 and 2023, however, weakening macroeconomic conditions and new regulatory hurdles will likely slow activity and som...
Posted: Oct 05, 2022
AM Best has revised the outlooks to negative from stable for the Long-Term Issuer Credit Ratings and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) of American Family Mutual Insurance Company and...
Posted: Oct 05, 2022
Verisk Extreme Event Solutions has released its 2022 Global Modelled Catastrophe Losses Report, estimating that on an annual average basis, catastrophes around the world are expected to cause around $123bn in insured losses compared to an average...
Posted: Oct 05, 2022
Two Sigma Insurance Quantified (TSIQ), an underwriting technology company for the commercial property and casualty (P&C) industry, has announced a partnership with Central Analysis Bureau (CAB), a provider of risk assessment tools and data for...
Posted: Oct 05, 2022
Budget Guard Holdings, an independently owned insurance agency, has been appointed as the Program Administrator for Markel’s stand-alone equipment maintenance insurance policy to its inland marine suite of products. The new equipment mainten...
Posted: Oct 05, 2022
Global specialty re/insurer Canopius Group has provided $50 million of insurance coverage for digital assets financial services ecosystem, Matrixport. The coverage applies to digital assets help in cold storage with Cactus Custody, the institution...
Posted: Oct 05, 2022
Guidewire, a software company that offers an industry platform for property & casualty (P&C) insurance carriers in the US and worldwide, has appointed Will McAllister, as Senior Vice President, Managing Director, EMEA. Within this role, Mc...
Posted: Oct 05, 2022
Arbol Inc., a global climate risk solutions platform, has appointed Jeffrey Khoo as Vice Chairman, APAC. His appointment is part of the company’s expansion strategy into APAC. Most recently Khoo served as Chief Marketing Officer at ED Broking, and...
Posted: Oct 05, 2022
Pen Underwriting has announced a multi-year strategic partnership with Aviva to strengthen its personal lines and property owners’ business, which will see Aviva providing capacity for over £100m in premium per annum. Under the terms of the new de...
Posted: Oct 05, 2022
Arch Insurance International has appointed David Stallard as Senior Cargo Underwriter, effective immediately. He will be based in London and will report to Steve O’Gorman, Head of Cargo and Logistics. Joining Arch’s cargo and logistics division, S...
Posted: Oct 05, 2022
Leading independent specialist re/insurance broker, Miller, has launched a new dedicated Bloodstock and Livestock team. The new team will be led by Archie Horne, who has taken up the role of Head of Bloodstock & Livestock, where he will report...
Posted: Oct 05, 2022
Industry body the Chartered Insurance Institute (CII) has announced that Russell Higginbotham, CEO of Swiss Re Solutions, has been elected as its President for 2023. In the coming months, Higginbotham, who began his career in 1986 with a UK life i...
Posted: Oct 05, 2022
AXA XL has appointed Aditi Shukla to the roles of Country Head for India and Head of India shared services. Shukla’s LinkedIn profile indicates that she has held various roles at XL Catlin in India for nearly 10 years prior to taking up this new r...
Posted: Oct 05, 2022
Howden Re, the reinsurance arm of the global broking group, has hired Doreen Tan from Aon Reinsurance Solutions Asia as Director, ASEAN Treaty / Retrocession, based in Singapore and reporting to Stephen Warwick, Head of Treaty for Asia Pacific. In...
Posted: Oct 05, 2022
Catastrophe bond and related insurance-linked securities (ILS) issuance was particularly quiet in the third-quarter of 2022, but combined with a solid first-half of the year for the market, helped issuance for the nine-month period come in above-a...
Posted: Oct 05, 2022