Reinsurance News
Switzerland headquartered insurer Zurich Insurance Group has appointed Andreas Schmitt as its new Global Cyber Underwriting Manager. He joins the company from Munich Re, where he most recently served as a Senior Executive Advisor, based in Singapo...
Posted: Sep 02, 2022
Gallagher Re has appointed Emilie Desormeaux as Executive Director, where she will be based in Paris, France. She joins from reinsurance giant Swiss Re where she worked at for over 14 years. During her tenure at Swiss Re, Desormeaux served as a Ca...
Posted: Sep 02, 2022
Underwriting agency DUAL Asia Pacific has appointed Michael Ussher Deputy CEO, and Jane Cullen as Chief Information Officer (CIO), effective October 1. In his new role, Ussher will be responsible for delivering the leadership team’s business plans...
Posted: Sep 02, 2022
Brazilian reinsurer IRB Brasil Re has completed a successful capital raise through a new share offering. The development comes after months in which it was seeking to raise new capital following significant losses from crop failures and droughts....
Posted: Sep 02, 2022
The cyber market in the UK has remained “stable and modestly” favourable in this year’s second quarter, while the Trade Credit market has become more challenging in the same period, according to Aon’s latest Q2 Market Dynamics Outlook: The United...
Posted: Sep 02, 2022
Managing general agent (MGA) firm Arcadian Risk Capital (UK) has a new CEO in Hedley Blane. The news was announced by Blane on his LinkedIn profile. According to the Arcadian Risk website, Blane currently serves as executive vice president of prof...
Posted: Sep 02, 2022
Gallagher Re says that the capital positions for European (re)insurers have continued to strengthen this year, with the average solvency for those it tracks improving to 235%, up from 222% in H1 2021. The firm said in a note that this level of sec...
Posted: Sep 02, 2022
Praedicat, a liability emerging risk analytics company has announced its collaboration with Experian, an information services company, to deliver a new company and portfolio analysis tool for underwriters of Directors & Officers (D&O) insu...
Posted: Sep 02, 2022
Specialty lines insurer HDI Global Specialty SE has named Olga Candi to the role of general manager at its Italian office. Candi will be based in Milan, replacing Paolo Volpi. She is moving up from her current role of underwriter coordinator. Acco...
Posted: Sep 02, 2022
Italy-headquartered insurer Generali has acquired Axa’s Malaysian operations, in line with Generali strategy to strengthen its leadership position in high potential markets. At the same time AXA also announced the completion of the sale to General...
Posted: Sep 02, 2022
Dubai Sigorta has appointed Fatih Ağacık as the company’s new General Manager. Ağacık’s appointment follows VHV Reasürans’s recent acquisition of Dubai Sigorta. Ağacık will start his new role after the necessary notifications are made to the autho...
Posted: Sep 02, 2022
Analysts at S&P Global expect underwriting margins to improve in 2022, which “would add resiliency to the sector”. Yet mark-to-market investment losses could weaken reinsurers’ ratings positions. In addition, as retrocession use holds steady,...
Posted: Sep 01, 2022
Goldman Sachs analysts expect a hard market cycle in P&C commercial lines to continue in 2022-23, with the retail cycle to inflect as inflation is priced in. In the short term, analysts expect the commercial cycle will continue to outperform,...
Posted: Sep 01, 2022
The Jersey Financial Services Commission (JFSC) has released a notice requesting feedback from the insurance sector on a proposed 12.9% increase in the sector’s fee rates. The request is composed of a combination of increases with the intention to...
Posted: Sep 01, 2022
Sompo International, a specialty provider of property and casualty re/insurance, has named veteran Ralph Brand President of Continental Europe. In his new role, Brand will oversee Sompo International’s strategy in Continental Europe and enhance th...
Posted: Sep 01, 2022
Allianz Global Corporate & Specialty (AGCS) has announced that Anthony Tramonte will join as Head of Marine for AGCS Canada, effective September 8, 2022. He will be based in Toronto, reporting directly to Rich Soja, North American Head of Mari...
Posted: Sep 01, 2022
Broker Gallagher has partnered with global insurtech Novidea, to implement and tailor its insurance broking platform for its specialty client base. The platform will be extremely pioneering within the market, as it will revolutionise client servic...
Posted: Sep 01, 2022
Ariel Re has become the first Lloyd’s business to become a signatory of the Standards Board for Alternative Investments (SBAI). The SBAI is a non-profit alliance of allocators and asset managers supported by over 250 institutional investors and in...
Posted: Sep 01, 2022
Specialty insurance and reinsurance company, Convex Insurance has appointed Richard P. Quinn as US Property Reinsurance Underwriter, a Bermuda-based role. Prior to joining Convex, he spent over four years at Axis Capital. During his tenure at the...
Posted: Sep 01, 2022
The first half of 2022 has been the most volatile period for re/insurer balance sheets since the financial crisis more than ten years ago, according to Head of Analytics at Howden unit HX, David Flandro and Head of Business Intelligence, Michelle...
Posted: Sep 01, 2022
Berkshire Hathaway GUARD Insurance Companies has seen a reduction in accidents with cars equipped with Safe Drive Systems’ (SDS) Active Driver Assistance System (ADAS). SDS’s Active Driver Assistance System, supplemented with SDS Telematics unit,...
Posted: Sep 01, 2022
Most Bermudian re/insurers have adopted a hybrid model as a common solution to volatility, says a recent S&P report. Several years of obstacles, which have included a barrage of catastrophic events, the COVID-19 pandemic, rising inflation, and...
Posted: Sep 01, 2022
Member companies of the Association of Bermuda Insurers and Reinsurers (ABIR) reported a substantial 21% year-over-year increase in net premium written in 2021. ABIR’s global underwriting report, released earlier this week, comprises data from 25...
Posted: Sep 01, 2022
French non-life insurers and reinsurers face natural catastrophe losses on an unprecedented scale this year, exacerbating the pressure on profitability from claims inflation and a worsening macro-economic environment, according to Fitch Ratings. A...
Posted: Sep 01, 2022
Climate analytics and technology driven risk modelling firm Reask has named Jamie Rodney as its new chief executive officer. The firm said in a statement that Rodney will succeed Thomas Loridan, who will become chief scientist and executive chairm...
Posted: Sep 01, 2022