Reinsurance News
Your search for “cyber insurance”
Favourable pricing driving underwriting profits for commercial P&C insurers
23rd March 2022
Fitch Ratings has said that favourable pricing is driving underwriting profits for US diversified commercial property and casualty insurers. A new note from the agency outlines how the insurers it looked at are able to demonstrate operating scale via large premium bases and substantial levels of equity capital. Diversification, said the ... Read the full article
Tokio Marine Intl. restructures TRI division
23rd March 2022
Tokio Marine HCC International (Tokio Marine) has reorganised its Transaction Risk Insurance (TRI) division as it aims to capitalise on the unprecedented mergers and acquisition (M&A) activity across the globe. As part of Tokio Marine's expansion, the company has created two new units, TRI North America and TRI International. The North American ... Read the full article
QBE North America adds another to its board
22nd March 2022
QBE North America has appointed Kristen Dauphinais as a Non-Executive Director of the QBE North America Board. The company said that Dauphinais will serve on the people and remuneration, audit, risk & capital, and investment and nominations committees. She will help guide the North America operations with a special focus on ... Read the full article
Markel Intl. adds three to wholesale claims team
21st March 2022
Markel International has appointed Alia Bamrah, Keifer Edmonds, and Tony Halling as senior claims adjusters, adding further experience and technical expertise to the wholesale claims team, as it continues evolving its services for clients. All three appointments will be based in the company’s London office, holding the responsibility for day-to-day claims ... Read the full article
Prolonged Russia-Ukraine conflict deleterious to insurers – DBRS Morningstar
18th March 2022
Prolonged conflict between Russia and Ukraine could have deleterious effects on the bottom line for major insurers, writes DBRS Morningstar in a new note. The current conflict, aligned with increased inflation, could lead to insurers being squeezed by claims, while unable to pass on costs to customers, wrote Tomasz Walkowicz and ... Read the full article
HDI Global USA appoints new head of sales and distribution
17th March 2022
HDI Global USA has appointed Will Trumbill to be its new head of sales and distribution. In his new role, Trumbill will be responsible for accelerating HDI’s revenue in the commercial insurance risks within their appetite, development of new channels and geographies, and contributing to the company’s marketing and business strategies. ... Read the full article
Moody’s says Russian invasion has done little to impact insurer solvency ratios
17th March 2022
The impact of Russia’s invasion of Ukraine at the end of February has done little to depress solvency ratios, according to a new note from Moody’s. Despite the harsh economic sanctions and economies buffeted by high inflation and rising fuel prices, Moody’s said that the volatility in financial markets caused by ... Read the full article
Re/insurers “strongly positioned” to navigate Ukraine fallout: Howden
16th March 2022
Analysts at Howden have asserted that the re/insurance market is “strongly positioned” to navigate the economic fallout from Russia’s invasion of Ukraine, despite the myriad risks the conflict presents. Risks identified by Howden in connection with the war include direct underwriting losses, rapidly rising prices, slower economic growth, financial market volatility ... Read the full article
KBRA warns of Russia-Ukraine “pain” for re/insurers
11th March 2022
Analysts at KBRA have warned that insurance and reinsurance companies globally are set to “feel the pain” of Russia’s invasion of Ukraine and its resulting sanctions, with many firms likely to experience “material negative consequences.” Although policy terms and conditions are not uniform, KBRA expects re/insurers to incorporate coverage exclusions for ... Read the full article
US commercial prices up 7% through Q4: WTW
10th March 2022
U.S. commercial insurance prices rose again in the fourth quarter of 2021, according to WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS), with the aggregate commercial price change measured at 7%. The survey compared prices charged on policies underwritten during the fourth quarter of 2021 with those charged for the same ... Read the full article
Brit launches Direct Pay in the US
10th March 2022
Brit is launching its Direct Pay service within the US. Partnering with Visa, Mastercard, and Vitesse, Brit says the service offers end customers the ability to receive claims payments securely and instantly to their bank card. Sheel Sawhney, group head of claims and operation at Brit, said: “Direct Pay demonstrates how the ... Read the full article
Clyde & Co name Susana Martínez as Partner in Madrid
10th March 2022
Global law firm Clyde & Co has appointed Susana Martínez as a Partner in Madrid to strengthen the firm’s global insurance group, where she will focus on giving advice, coverage dispute and defence work in complex matter across multiple jurisdictions within EMEA and Latin America. She brings experience within advice and ... Read the full article
Bank of America releases new note on Russia/Ukraine exposures for insurers
8th March 2022
A new note from Bank of America outlines the uncertainty that current sanctions on Russia have for insurance companies. Following Russia’s invasion of—and probable war crimes against—Ukraine in recent weeks, sanctions against the country from around the world have been applied. According to Bank of America, much of the effects of ... Read the full article
Premium prices climbed further in Q4: CIAB
7th March 2022
A new market survey by the Council of Insurance Agents & Brokers (CIAB) has shown that premium prices climbed further in Q4 2021, marking the 17th consecutive quarter of premium increases. The average increase in premiums across all account sizes was 8.7%, down slightly from the 8.9% recorded in Q3 2021. Respondents ... Read the full article
One80 Intermediaries appoints new practice leaders
7th March 2022
One80 Intermediaries (One80), a specialty insurance broker headquartered in Boston, has announced its new organizational structure establishing industry practice leaders within the One80 executive team. This extends to strategic areas such as financial lines, workers’ compensation, transportation, property, and personal lines. The industry practice leaders will be responsible for the development, delivery, ... Read the full article