Reinsurance News
Ohio-based insurer Nationwide has appointed Julie Hespe as the head of Underwriting Performance for the company’s Excess & Surplus/Specialty team. Hespe’s team – the Underwriting & Product Performance Center of Excellence, will have...
Posted: Aug 17, 2022
Investment firm Vida Capital, Inc. has today expressed its support of both the current leadership and strategy of R&Q Insurance Holdings Ltd. Vida Capital Management currently manages funds owning some 9.07% of the outstanding shares of R&...
Posted: Aug 17, 2022
Andrew Hare has been appointed Managing Director, Asia Pacific at RMS, a Moody’s Analytics company that provides risk modelling and solutions. Bringing almost 25 years of experience in the industry, Hare will be responsible for integrating a...
Posted: Aug 17, 2022
The performance of Brazilian reinsurer IRB Brasil Re in Q2 2022 was negatively impacted by the severe drought in the southern part of the country, leading the firm to exceed the limits of its retrocession protection. Yesterday, the company announc...
Posted: Aug 17, 2022
Insurance broker CAC speciality has announced the appointment of Scott Smith as Vice President of Private Equity practice. Smith joins CAC with a solid business background, holding positions as an investment banker with Citigroup, and a leader wit...
Posted: Aug 17, 2022
After taking the top spot last year, global reinsurer Munich Re remains the world’s largest reinsurance company, with gross life & non-life reinsurance premiums written of more than $46.8 billion in 2021, as shown by our directory of the...
Posted: Aug 17, 2022
Specialist re/insurer Beazley has announced that its Smart Tracker Special Purpose Arrangement (SPA) 5623 will now become a full market-facing syndicate at Lloyd’s, after being granted ‘in principle’ approval. Subject to Lloyd’s agreement of the S...
Posted: Aug 17, 2022
AXA XL Insurance has promoted Michael Perrotti to the role of Chief Underwriting Officer (CUO) for its Marine insurance business in the Americas. Previously Inland Marine Practice Leader for Marine in North America, Perrotti assumes the CUO role f...
Posted: Aug 17, 2022
A recent AM Best report suggests that there is a stable pattern of underwriting profits as companies are becoming more proactive about making explicit allowances for inflationary trends. Numerous business re-alignment initiatives have been taking...
Posted: Aug 17, 2022
Global specialty re/insurer, SiriusPoint, has appointed Phil Wooldridge as Head of London US Casualty. Based in London, Wooldridge will start his new role on September 5 and will be reporting to Head of London and International Casualty, Nick Pasc...
Posted: Aug 17, 2022
Cowbell Cyber, a cyber insurance provider for small and medium enterprises (SMEs), has appointed Julia Cederroth as senior director of reinsurance. Prior to joining Cowbell, Cederroth served as vice president and cyber treaty broker at Gallagher R...
Posted: Aug 17, 2022
Ocean International Reinsurance Company Limited (Ocean Re) has announced that it has acquired Oceva Risk Solutions Limited, a London Market-facing business that is fully authorised by the Financial Conduct Authority (FCA). As part of the deal, whi...
Posted: Aug 17, 2022
Equitable Holdings has gone into a reinsurance agreement with Global Atlantic subsidiary First Allmerica Financial Life Insurance Company to reinsure a 50% quota share of pre-2009 Group Retirement VA contracts supported by approximately $4bn of ge...
Posted: Aug 17, 2022
Global reinsurer MAPFRE RE has now received regulatory approval to establish a subsidiary in Beijing, which will reportedly have a working capital of 500 million yuan (USD 73.7m). According to the China Banking and Insurance Regulatory Commission...
Posted: Aug 17, 2022
Premia Syndicate 1884 has entered into a loss portfolio transfer (LPT) agreement with Hiscox Syndicate 33. A statement from the firm says that the subject portfolio consists of a diverse mix of business underwritten by Syndicate 33 during Years of...
Posted: Aug 17, 2022
A recent report by JP Morgan suggests (re)insurers increased investment returns will not slow down the raising prices. Non-life insurance companies with short-duration portfolios could see material increases to return on equity (ROEs) assuming tha...
Posted: Aug 17, 2022
Liberty Mutual insurance has appointed Chantal Rodriguez as Liberty Mutual Reinsurance Chief Underwriting Officer (CUO), where she will report to both Global Risk Solutions (GRS) President of Underwriting, Matthew Moore and Liberty Mutual Reinsura...
Posted: Aug 17, 2022
A recent S&P Global Market Technology report suggests insurtech startups have shifted from a “growth at all costs” mentality to one more focused on profitability. Full-stack companies, or those that have licensed carrier subsidiari...
Posted: Aug 17, 2022
Relation Insurance Services, a privately held corporation backed by Aquiline Capital Partners, has announced the acquisition of the assets of California-based Innovative Broker Services. The transaction brings an established insurance brokerage fi...
Posted: Aug 17, 2022
Concert Group Holdings (Concert), the parent of insurance fronting subsidiaries Concert Insurance and Concert Specialty, has appointed Doug Kovach as Concert Insurance’s Senior Vice President, Underwriting and Program Management. Kovach brin...
Posted: Aug 17, 2022
The Luxembourg based start-up IBISA, has raised seed capital of an undisclosed amount from Ankur Capital, an India-based early-stage venture capital fund focused on transformative technologies in deeptech and climate tech. With this fresh funds, t...
Posted: Aug 17, 2022
Cyber insurance and security provider, Coalition has completed the acquisition of Digital Affect Insurance Company – a P&C insurer licensed in all 50 US states – from Munich Re Digital Partners US Holding Corporation. According to...
Posted: Aug 17, 2022
Credit Suisse Asset Management (CSAM) has now filed 18 claims against insurers in relation to the liquidation of its Greensill-linked funds, amounting to exposures of approximately $2.2 billion across the two Supply Chain Finance Funds (SCFFs). As...
Posted: Aug 16, 2022
Ryan Specialty has announced the appointment of Bill Evans and Chris Kelleher as Co-presidents of the National Specialty Programs practice (NSP). Bill Evans has been with NSP for more than ten years and most recently served as Vice President with...
Posted: Aug 16, 2022
Crane Holdings, Co. has announced that it has divested Redco Corporation – a wholly owned subsidiary that holds liabilities including asbestos liabilities and related insurance assets to Spruce Lake Liability Management Holdco LLC. The trans...
Posted: Aug 16, 2022