Reinsurance News
Fannie Mae has announced the transfer of $700m of mortgage credit risk to private re/insurers through its Credit Insurance Risk Transfer (CIRT) 2022-9 program, as part of its ongoing effort to reduce taxpayer risk by increasing the role of private...
Posted: Sep 27, 2022
The Demex Group, a provider of comprehensive solutions for modelling, assessing, and managing climate-linked risks at scale, has appointed Matt Coleman as Chief Risk Officer. Within this role, Coleman will work closely with Demex’s Product, Growth...
Posted: Sep 27, 2022
Marine insurance providers, along with leading banks that finance the shipping industry that have signed on to follow the Poseidon Principles frameworks, have agreed to increase the standards by which they measure climate alignment in the maritime...
Posted: Sep 27, 2022
Clear Blue Insurance has hired David Reale to be its new lead manager of reinsurance contracts. Reale is joining the company from the beginning of this week after over eighteen years at the Munich Re-backed Hartford Steam Boiler Inspection and Ins...
Posted: Sep 27, 2022
A new report from Chubb posits that younger generations are more enamoured of taking advice from insurance brokers and agents than those preceding them. According to Chubb, 46% of Gen Z and 43% of Millennials wish for their agent or broker to advi...
Posted: Sep 27, 2022
Live flood forecasting insurtech, Previsico has appointed Johnny Stubbs as Partnerships Manager to support accelerated demand in the UK and US. As a specialist in developing and managing successful partnerships with insurance companies with extens...
Posted: Sep 27, 2022
Guy Carpenter has entered an agreement with analytics firm TNEDICCA that will enable the former to deliver enhanced auto analytics to its insurance carrier clients. Under the deal, Guy Carpenter said it will use TNEDICCA’s location risk products f...
Posted: Sep 27, 2022
Swiss Re is going into partnership with the organisation Schadenorganisation Erdbeben (SOE). The partnership will see the reinsurance giant work with SOE to develop needed IT infrastructure around earthquake resilience. The SOE is a public-private...
Posted: Sep 27, 2022
The Insurance Institute of London (IIL) has named Christopher Lay as its new president. A statement on its website said that Lay was succeeding Julian Enoizi. In addition, Lay also serves as the country corporate officer for Marsh McLennan in the...
Posted: Sep 27, 2022
Hurricane Ian has now reached major Category 3 status with 125 mph sustained winds, and with a shift further east in the NHC’s forecast cone overnight, the storm is set to pass very close to the Tampa Bay area, or even come ashore with a lan...
Posted: Sep 27, 2022
Various leading brokers at the reinsurance Rendezvous insist that the industry must embrace volatility and ‘scale up’ to meet the opportunity that climate change, the widening protection gap, and the increasing demand for risk transfer of cyber an...
Posted: Sep 27, 2022
Aon plc has appointed Adam Peckman as head of Cyber Solutions, Asia Pacific. Under Peckman’s leadership, Aon’s Cyber Solutions in Asia Pacific will bring together cyber broking, security advisory, incident response and risk consulting capabi...
Posted: Sep 27, 2022
Hiscox USA, part of the global insurer and reinsurer, has appointed Steven Wilkins to be its new senior vice president and head of casualty. Wilkins made the announcement on LinkedIn. His profile indicates that he has been with the firm since 2013...
Posted: Sep 27, 2022
Fintech startup Inclined has announced it has raised $15m in a Series A funding round. HSCM Ventures led the round, with participation from Anthemis Group alongside several new and existing investors. The company states that the funding will fuel...
Posted: Sep 27, 2022
Berkshire Hathaway Specialty Insurance (BHSI) has promoted Shane O’Neill and Ciaran Reddin to the respective roles of head of property and head of professional indemnity and cyber. The firm said that both men will be based in Dublin. O’Neill joine...
Posted: Sep 27, 2022
Insurers are likely to have to accept mid-teen reinsurance rate rises next year, just to cover inflation and climate risk, if they wish to transfer the same level of risk to reinsurers, according to Peel Hunt analysts. At the Reinsurance Rendezvou...
Posted: Sep 26, 2022
Leading international law firm Clifford Chance has appointed Dennis Manfredi as co-head of the firm’s US Insurance practice. Manfredi brings more than 23 years of experience towards the role. He joins Clifford Chance from Sidley Austin’...
Posted: Sep 26, 2022
Acrisure partner MGAM, SCOR, Aon, and the UK’s Department for Levelling Up, Housing, and Communities (DLUHC) have said that the new government-backed PI insurance scheme for EWS1 assessors is now open for purchase. The scheme, initially announced...
Posted: Sep 26, 2022
Insurance and reinsurance broker Gallagher has appointed Julian Raven to be its new Chief Executive Officer (CEO) of the energy practice. The promotion is one that the firm says is ‘key’ to its Specialty leadership team. Raven joined Gallagher 14...
Posted: Sep 26, 2022
Stere, a capacity trading platform that specialises in capacity sourcing and unique deal capabilities for embedded insurance partners and MGAs, has announced that it has closed a $5 million funding round with Vida-Capital. The investment allows fo...
Posted: Sep 26, 2022
2022 is set to be a landmark year of change in the London market, with the evolution of cloud computing, distributed computing via APIs, and data augmentation all starting to culminate in opportunities for the market to be more efficient as it sta...
Posted: Sep 26, 2022
Global insurance and reinsurance broker Marsh McLennan has announced that John Doyle will take over from Daniel Glaser as President and Chief Executive Officer (CEO) from January 1st, 2023. Glaser is set to retire at the end of the year after lead...
Posted: Sep 26, 2022
Cyber risk company Resilience has expanded its global offering by launching a new operation in London to serve the UK market. In a deal brokered by Lockton Re, the expansion is backed by a capacity agreement with HDI Global Specialty SE. Vishaal H...
Posted: Sep 26, 2022
The Vermont Supreme Court has revived a military shipbuilder’s lawsuit for insurance coverage of lost income and extra expenses incurred during the COVID-19 pandemic, says a report from Reuters. The majority in a 3-2 split said Huntington Ingalls...
Posted: Sep 26, 2022
International specialty re/insurance MGA, Rokstone, has announced that it has centralised its Power, Construction and Engineering teams into one central powerhouse for brokers. This move by Rokstone now makes it one of the most experienced teams w...
Posted: Sep 26, 2022