Reinsurance News
The Hartford has announced that Doug Elliot will retire as president after more than 11 years with the company. Elliot spoke about his time at The Hartford, stating, “I am honoured to have had the opportunity to work for this iconic and trusted br...
Posted: Sep 08, 2022
Cinven, an international private equity firm, has announced it has reached an agreement to acquire Säkra, an insurance broker headquartered in Stockholm. The details of the transaction have not been disclosed, and it is subject to customary regula...
Posted: Sep 08, 2022
Brussels-headquartered multinational insurer Ageas has announced that it plans to open its reinsurance activity to third parties, outside its group perimeter, trading under the brand Ageas Re. By expanding its reinsurance activities to the open ma...
Posted: Sep 08, 2022
Markel Corporation has announced that Jed Rhoads, President, and Chief Underwriting Officer of its Global Reinsurance Division, is retiring at the end of 2022. Rhoads has worked in the industry for more than four decades, having held executive pos...
Posted: Sep 08, 2022
The German Insurance Association (GDV) has said that natural catastrophe events caused damages of around €3bn in the first half of 2022. GDV General Manager, Jörg Asmussen said, “So far, 2022 has been an above-average claims year. The winter storm...
Posted: Sep 08, 2022
The specialist Lloyd’s insurance and reinsurance marketplace has today reported an overall loss of £1.8 billion for the first half of 2022, but despite reserving £1.1 billion for claims related to the war in Ukraine, the underwriting perform...
Posted: Sep 08, 2022
Climate, conflict, and capital are uniting to create a “tipping point” for the global reinsurance market ahead of the key, January 1st, 2023, reinsurance renewals, according to re/insurance broker Howden. As the market prepares to meet...
Posted: Sep 08, 2022
Tokio Marine HCC – Public Risk Group, a provider of insurance solutions for public entities, has named Megann Kellom as Chief Operating Officer (COO). She will be reporting to Christopher Skarinka, the group’s President. Kellom has more than...
Posted: Sep 08, 2022
Waterdrop, the Swiss Re-backed technology platform for insurance and healthcare services, has announced the appointment of Wenjie Guan to its board of directors. Guan currently serves as Head of Principal Investments and Acquisitions North Asia at...
Posted: Sep 08, 2022
Lloyd’s of London insurer and reinsurer, MS Amlin Underwriting Limited, has made six new additions to its Singapore team, MS Amlin Asia Pacific Pte. Ltd (MS AAP). According to the firm, the new appointments will boost MS AAP’s underwriting a...
Posted: Sep 08, 2022
Moody’s predicts that Japanese P&C insurers will increase fire insurance premiums, shorten policy durations, and use location-specific pricing to account for the growing frequency and intensity of climate-related natural catastrophes. This wil...
Posted: Sep 08, 2022
According to re/insurance broker Aon, the US appears to be nearing, or past peak inflation, with broad inflation still close to a 40-year high of 8.5%, though down from last month’s 9.1% reading. Falling energy prices primarily drove the decrease,...
Posted: Sep 07, 2022
Independent specialty re/insurance broker, BMS, has announced the appointment of Nick Gillett as CEO of BMS International. Gillet is a highly experienced broking professional, having worked as managing director of Aon Benfield Singapore before spe...
Posted: Sep 07, 2022
Global reinsurance broker, Gallagher Re, has appointed Jasper Goring as head of its cyber reinsurance hub in New York amid the creation of a dedicated cyber analytics function and the growth of its specialist team in North America. Goring will lea...
Posted: Sep 07, 2022
David Priebe, Chairman of reinsurance broker Guy Carpenter, has asserted that the reinsurance industry is “truly changing” in response to the multitude of challenges it has faced this year. Currently speaking as part of an ongoing virtual media br...
Posted: Sep 07, 2022
Global insurance broker Lockton’s dedicated reinsurance division, Lockton Re, has launched Lockton Re SAGE 2.0, its next level of analytics features and tools as part of Lockton Re’s proprietary software platform, the company highlighted. Lo...
Posted: Sep 07, 2022
A new report from AM Best highlights that total US surplus lines direct premiums written rose to a record $82 billion-plus in 2021, with the largest year-over-year premium growth since 2003. This increase comes as AM Best notes that from the first...
Posted: Sep 07, 2022
Markel International, a subsidiary of Markel Corporation, has named Dan Martin as managing director of distribution strategies and business development (DS&BD). Based in London, Martin will be reporting to Andrew McMellin, managing director of...
Posted: Sep 07, 2022
Bermuda-based specialty insurer and reinsurer, SiriusPoint, has named Scott Egan, formerly of RSA UK & International, as its new Chief Executive Officer (CEO). Egan, most recently the CEO of RSA UK & International, and a FTSE 100 board dir...
Posted: Sep 07, 2022
American International Group (AIG) has launched the initial public offering (IPO) of its majority-owned subsidiary, Corebridge Financial. AIG rebranded the parent company of its Life & Retirement business from SAFG Retirement Services to Coreb...
Posted: Sep 07, 2022
Bermuda-based insurer and reinsurer, Aspen Insurance Holdings, has reported improved underwriting income for the first six months of 2022, as top line growth helped to offset a moderate increase in catastrophe losses. Underwriting income for H1 am...
Posted: Sep 07, 2022
International re/insurance broker Howden has announced the launch of a carbon credit invalidation insurance solution to increase confidence in the Voluntary Carbon Market (VCM). To develop the product, Howden worked with the carbon finance busines...
Posted: Sep 07, 2022
Global insurance and reinsurance broker Aon has unveiled its new Strategy and Technology Group (STG), designed to combine a broad range of insights and software solutions to assist P&C and life re/insurance clients develop flexible and resilie...
Posted: Sep 07, 2022
Bermuda-based managing general agent firm Arcadian Risk Capital has announced the appointment of Bermudian national Chen Foley as Chief Claims Officer, effective august 8th, 2022. Foley will be tasked with managing all aspects of the Arcadian Grou...
Posted: Sep 07, 2022
Analysts at S&P Global Ratings have opted to maintain their negative view on the global reinsurance sector, but have said there are encouraging signs that the market could finally be facing a turnaround. S&P’s negative view reflects the ex...
Posted: Sep 07, 2022