Reinsurance News
Allianz Trade in Asia Pacific has appointed Shan Aboo as Regional Commercial Director. Within this new role, he will be responsible for overseeing the trade credit insurer’s commercial activities in twelve Asia Pacific markets. Based in Singapore,...
Posted: Aug 22, 2022
Applied Systems, a global provider of cloud-based software that powers insurance businesses, has announced the second quarter 2022 results of the Applied Commercial Index, the Canadian insurance industry’s premium rate index. The company discovere...
Posted: Aug 22, 2022
A recent BlackBerry Cyber Insurance Coverage study shows that businesses are growing increasingly concerned about how they will meet ransomware demands. Only 19% of those surveyed have ransomware coverage limits above $600,000, while 59% hoped the...
Posted: Aug 22, 2022
A recent report by Jefferies suggests new business premiums for motor insurance are up by 14% year over year (YoY), the first double-digit increase since March 2020, according to their UK premium tracker based on ONS data. The report notes that pr...
Posted: Aug 22, 2022
Global health services company, Cigna Corporation has appointed Jerome Droesch as Chief Executive Officer of Domestic Health and Health Services for all of Cigna International Markets business outside of the US. Within this new role, Droesch will...
Posted: Aug 22, 2022
High competition and a surge in motor and medical claims will continue to constrain Gulf Cooperation Council (GCC)’s earnings, particularly in the largest regional market Saudi Arabia, if insurers do not substantially adjust their premium ra...
Posted: Aug 22, 2022
Inflation momentum in the US may, at last, be decelerating, but the threat is far from over, says a report from the Swiss Re Institute. Despite 225 basis points of interest rate hikes this year, some measures of US financial conditions are at the...
Posted: Aug 19, 2022
The Australian Consumers Insurance Lobby (ACIL) has published a number of measures for Australia’s Federal Government to consider in order to drive premium savings from the cyclone reinsurance pool to the levels needed to assist policyholders. The...
Posted: Aug 19, 2022
The Swiss Insurance Association (SIA) has hired Gabor Jaimes to be its new property, cyber, and natural hazard expert. Jaimes shared the news in a LinkedIn post where he said he was ‘delighted’ to be starting his new role. Jaimes is joining the as...
Posted: Aug 19, 2022
The Inflation Reduction Act (IRA) of 2022 contains several provisions that could have a material impact on the US health insurance industry over the short and intermediate terms, according to AM Best analysts. This is particularly because it relat...
Posted: Aug 19, 2022
Concert Group Holdings, Inc. the parent of insurance fronting subsidiaries Concert Insurance Company and Concert Specialty Insurance Company, has appointed Carol Frey as Senior Vice President, Business Development. Within this role she will report...
Posted: Aug 19, 2022
One of R&Q’s investors has come out in support of William Spiegel, the executive chairman who has been facing calls for his removal as a director of the company. Spiegel’s position has been rocked in recent weeks by the calling of Phoenix Asse...
Posted: Aug 19, 2022
California-based re/insurance firm Venbrook has announced the appointment of Jeff Lang as Executive Vice President, Retail Services. In his new role, Lang will oversee all aspects of Venbrook’s retail segment, including expansion of its prop...
Posted: Aug 19, 2022
According to GlobalData, insurtech investments fell by 79.6% in 2021, leading to job losses and tough economic conditions in 2022. GlobalData’s Deals Database reveals that the value of global investments in insurtech fell by 79.6% in 2021. This fo...
Posted: Aug 19, 2022
French reinsurance firm SCOR has announced the next phase of its Venture activities, with ‘Ventures 2.5’. Going forward, the P&C Ventures and L&H Ventures mandates will be combined into a single practice. The unified team will lead investm...
Posted: Aug 19, 2022
AXA XL has beefed up its underwriting division with new hires in New York, Los Angeles, and St. Paul. The firm said it has hired Deuayne Crawford as head of cyber for the northeast; Marisa Vero as senior underwriter; and Hannah Baker as underwrite...
Posted: Aug 19, 2022
Legacy specialist Enstar is to shutter its Enhanzed Re joint venture, eliminating all catastrophe exposure. In a filing with the US Securities and Exchange Commission (SEC), the firm said it was transferring its share of the firm to Allianz. The f...
Posted: Aug 19, 2022
Global insurer Chubb has announced the appointment of Chris Eappariello as President of Consumer lines for the insurer’s Europe, Middle East and Africa (EMEA) region. Eappariello will be responsible for a newly created regional segment which compr...
Posted: Aug 19, 2022
Specialty insurer, Mosaic Insurance has announced two new additions to its team, reaching one hundred employees in 18 months between its Bermuda, London, New York, Chicago, and Toronto offices. The insurer also has plans to open more offices in Fr...
Posted: Aug 19, 2022
International General Insurance Holdings Ltd. (IGI) has reported a net underwriting result of $40.4 million for the second quarter of 2022, a huge increase compared to $20.9 million from the prior year period. At the same time gross written premiu...
Posted: Aug 19, 2022
US primary insurer Allstate has announced a shake-up in its leadership. The firm said that Glenn Shapiro, head of property-liability, is to retire. He will be succeeded by Mario Rizzo, the firm’s CFO. Meanwhile, Jess Merten will succeed Rizzo as C...
Posted: Aug 19, 2022
Analysis by AM Best suggests that globally, reinsurers are re-deploying their capital away from property classes and into lines such as casualty and specialty primary lines, in order to seek better returns. The rating agency notes a consensus that...
Posted: Aug 19, 2022
Global climate risk solutions platform, Arbol, has reportedly transacted more than $100mn in gross written premiums (GWP) in the first half of 2022, marking significant growth compared to the $70mn in GWP transacted in 2021. The traction and scale...
Posted: Aug 19, 2022
Westfield Specialty is expanding its roster with a host of new hires for its WestfieldPro team. The firm said that it was looking to expand its E&O and cyber liability offerings while looking to enter the primary space. The Pro team will be le...
Posted: Aug 19, 2022
Tensorflight has appointed Jakub Dryjas as its new chief executive officer (CEO). Dryjas is moving into the role to follow Zbigniew Wojna after serving as the firm’s chief of growth. He joined the company in 2018. Dryjas said: “This is a really ex...
Posted: Aug 19, 2022