Reinsurance News
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P&C industry strong despite underwriting losses: analysts
10th June 2022
Despite experiencing an underwriting loss, the property andcasualty insurance industry ended 2021 strong and remains able to support policyholders, according to a report from Verisk and the American Property Casualty Insurance Association (APCIA). In 2021, the insurance industry experienced a $3.8 billion net underwriting loss, after a $5.2 billion underwriting gain ... Read the full article
DynaRisk closes seed funding round
10th June 2022
Insurtech firm DynaRisk has closed its seed funding round after raising $7m of capital since its launch. According to the company, this new round of funding will be used to meet the growth demand for its existing products, expand geographically and develop new products to widen the company's reach. Andrew Martin, CEO ... Read the full article
Insurance Europe urges policymakers & public to collaborate to tackle protection gaps
8th June 2022
Speaking at the 12th International Insurance Conference, in Prague, Andreas Brandstetter, Insurance Europe president, urged policymakers, insurers and the public to work together to address the significant protection gaps that exist in societies and economies. Brandstetter stressed the need for policymakers to ensure that regulatory frameworks are fit for purpose and ... Read the full article
Ascot appoints Chiolan as EVP, Management & Professional Liability
8th June 2022
Specialty re/insurer Ascot has appointed Brian Chiolan in the newly created position - Executive Vice President, Management & Professional Liability. He will report directly to Matt Kramer, CEO, US Insurance. Within this new role, Chiolan will have oversight responsibility for the re/insurer’s US Management Liability, Financial Institutions, Professional Liability & Cyber portfolios ... Read the full article
Acrisure secures $725m in new funding
31st May 2022
Acrisure has secured additional funding to fuel its ongoing global expansion further. The firm said it had closed $725m in Series B-2 Preferred Equity and received a $23bn valuation, representing a 31% increase from its last preferred equity raise in March 2021. The round of investing was led by the Abu Dhabi ... Read the full article
Swiss Re’s CEO of reinsurance says insurers must embrace building digital trust
30th May 2022
Insurers need to face up to the task of building ‘digital trust’ between themselves and the consumers they serve, according to a new blog post from Moses Ojeisekhoba, CEO of Reinsurance at Swiss Re. The post, ‘Why insurance leaders should care about digital trust’, refers heavily to work put out ... Read the full article
US commercial insurance premium increases slow in Q1 2022: CIAB
27th May 2022
U.S. commercial insurance premium prices increased for the 18th consecutive quarter in Q1 2022, although the pace of growth slowed when compared with the final quarter of last year, according to data from The Council of Insurance Agents & Brokers (CIAB). The CIAB's Commercial Property/Casualty Market Report Q1 2022 shows an average ... Read the full article
WTW appoints Andrea García Beltrán to new role
26th May 2022
WTW has appointed Andrea García Beltrán as the new head of FINEX, for Latin America. Based in London, Andrea joins WTW from RSA, where she was the UK and international Head of Cyber for underwriting for four years. Andrea will relocate to the region upon joining WTW, bringing more than 15 years’ ... Read the full article
Allianz (AGCS) names Regional Head of Strategy & Portfolio Steering, North America
25th May 2022
Allianz Global Corporate & Specialty (AGCS) has announced that Anthony “Sandy” Codding, Jr. will join the AGCS Financial Lines team as Regional Head of Strategy & Portfolio Steering, North America. Codding will be based in Boston and will report to Joe Caruso, North America Regional Head of Financial Lines. He takes over ... Read the full article
Resilience names Miki Ho Head of Underwriting, Canada
25th May 2022
Resilience, a cyber insurance and security solutions managing general agent (MGA) has appointed Miki Ho as Head of Underwriting for Canada. Ho will lead the company’s Canadian business growth, reporting to Kevin McGowan, Senior Vice President, Head of Underwriting Strategy, North America. Ho’s appointment with Resilience takes place whilst the MGA is ... Read the full article
AXA XL promotes Libby Benet to Global CUO
25th May 2022
AXA XL, the property & casualty and specialty risk division of global insurer AXA, has promoted Libby Benet to Global Chief Underwriting Officer (CUO). Benet takes over as Global CUO from Nancy Bewlay, who was recently named as its new Chief Executive of Reinsurance. She first joined the company in 2020 ... Read the full article
NFP’s Financial Institutions Group selects TigerRisk to develop line slip for Lloyd’s
24th May 2022
Leading property and casualty (P&C) broker, NFP has announced its Financial Institutions Group (FIG) has selected broker and risk capital advisory TigerRisk Partners LLC to develop a line slip to transact business with Lloyd’s of London. The line slip will enable global insurers, US regional and mutual insurance companies, managing general ... Read the full article
Many programs risk not getting filled at ‘very late’ June reinsurance renewals: KBW
24th May 2022
As issues continue to plague Florida's property insurance market, there's a risk that many programs will not be fully placed at what appears to be a very late June 1st, 2022, reinsurance renewals, according to analysts at KBW. After meeting with re/insurance industry executives on day one of its Bermuda tour, ... Read the full article
Howden Sweden announces new leadership changes
24th May 2022
International insurance broker, Howden, has announced the appointments of Marie Gustafsson as Chief Executive Officer, Sweden and Kristoffer Haleen as an Executive Director on the board of Howden Sweden. Howden stated that both Gustafsson and Haleen will lead its business in the region, once their contractual obligations have been discharged. Jesper ... Read the full article
Brokerslink adds six to network
20th May 2022
Broker firm Brokerslink has added six technology firms to its network. The six founding ‘B.tech affiliates’ are: BWD (digital transformation), KYND (cyber security), Innovagency (digital experience), Inovretail (data science provider) , IT Power (business process and claims management) and Lightico (customer experience). According to the company, the new affiliates are the first ... Read the full article