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Global multiline insurers effectively manage challenging conditions: S&P
17th April 2023
Global multiline insurers (GMIs) with diverse business operations and geographical presence, coupled with competitive advantages and robust capitalisation, are effectively managing challenging circumstances, S&P Global Ratings said in a report. GMIs tend to reap greater advantages from favourable conditions and endure less hardship during difficult times as compared to other insurers, ... Read the full article
LMA announces membership of Chief Underwriting Officer Committee
6th April 2023
The Lloyd’s Market Association (LMA) has announced the membership of its newly formed Chief Underwriting Officer Committee (CUOC), naming Nicola Stacey, Chief Underwriting Officer at Chaucer, as Chair. LMA states that the CUOC will comprise 15 members from a broad cross-section of the Lloyd’s Underwriting market. "The members have been selected by ... Read the full article
Spinnaker appoints Charles Valinotti as Chief Program and Underwriting Officer
5th April 2023
Spinnaker Insurance Company, a wholly owned subsidiary of Hippo Holdings Inc,, has appointed Charles Valinotti as its Chief Program and Underwriting Officer. Within the role, he will lead the firm’s team of program underwriters, who are responsible for managing the carrier’s diverse portfolio of third-party programs. Overall, Valinotti brings 30 years of ... Read the full article
Global insurance spending likely to double in the next decade, says Lloyd’s Neal
23rd March 2023
Speaking to the Financial Times (FT), John Neal, Lloyd's CEO, suggested the increase in global insurance spending over the next decade is to be driven by a greater perception of risks such as bank failures and climate change. According to FT, Neal noted that financial risks like bank failures as well ... Read the full article
LMA announces Claims Committee election results
23rd March 2023
The Lloyd’s Market Association (LMA) has announced the results of the LMA Claims Committee (LMACC) elections. The LMACC ballot for five elective membership positions closed at the end of February. Two members of the LMACC who stood for a second term were both re-elected: Nick Doyle from The Hartford, and Steve Yeo ... Read the full article
Axis promotes Gonzales to Deputy Global Head of Ceded Reinsurance
17th March 2023
Axis Capital, a global specialty underwriter and provider of re/insurance solutions, has announced the promotion of Inmaculada Gonzales to Deputy Global Head of Ceded Reinsurance. In her new role, she will help advance ceded reinsurance strategic priorities and drive best practices in governance and compliance on outwards reinsurance and retrocessional placements. Gonzales ... Read the full article
Markel Intl. bolsters global downstream energy offering with two new hires
16th March 2023
Markel International, a subsidiary of Markel Corporation, has bolstered its global downstream energy team with two new appointments. James Keens has been named senior downstream energy underwriter in London, and JJ Wong has been named downstream energy underwriter in Singapore. Both Keens and Wong, who took up their roles in February, will ... Read the full article
Bob James named COO at Lloyd’s
14th March 2023
Specialist insurance and reinsurance marketplace Lloyd’s has announced a number of changes to its Executive Committee, including the appointment of Bob James as Chief Operations Officer (COO). Previously Lloyd’s Market Transformation Director, James will now focus on aligning the Blueprint Two programme with the wider Corporation Operations function. Meanwhile, Burkhard Keese, Read the full article
Helen Ye named CEO of Dual Alpha Underwriting
8th March 2023
Helen Ye has been named Chief Executive Officer of DUAL Alpha Underwriting, an MGA brand operated by the DUAL Group. Ye joins DUAL Alpha Underwriting from OneInfinity, a firm that offers businesses in the blockchain and cryptocurrency industry customised insurance protection and consulting services. Here, she worked as Chief Commercial Officer. Before ... Read the full article
Conduit Re names Mario Binetti as Head of Casualty
7th March 2023
Bermuda-based pure-play reinsurance company, Conduit Re, has hired Mario Binetti from reinsurance broker BMS Re to the new role of Head of Casualty. Binetti currently serves as Head of Casualty Treaty and Actuarial at BMS Re, having previously held senior underwriting roles at various reinsurers, including JRG Re, QBE Re, XL ... Read the full article
Liberty Specialty Markets seen as top brand in London Market
7th March 2023
Liberty Specialty Markets (LSM) has been ranked as the leading London Market insurer brand based on data compiled by Insurindex, which looked at a combination of market share and brand awareness factors. Notably, LSM climbed five places up the brand rankings from last year to take over the top spot from ... Read the full article
Kathy Dnistrian named UFG Senior Reinsurance Underwriter
28th February 2023
UFG Insurance, a P&C insurer based in the US, has announced the appointment of Kathy Dnistrian as Senior Reinsurance Underwriter within the firm’s assumed reinsurance segment. In her new role, she will take the lead on many existing and new treaty relationships across the US. Dnistrian, has a wide variety of reinsurance experience, ... Read the full article
FEMA sees 36% decline in number of counterparties at 2023 NFIP reinsurance renewal
22nd February 2023
Data from the U.S. Federal Emergency Management Agency (FEMA) on the National Flood Insurance Program's (NFIP) traditional reinsurance placement for 2023 reveals a 36% decline in the number of participants on the programme when compared with the prior year. In January, FEMA announced the placement of a 50% smaller reinsurance ... Read the full article
Enstar to enter Loss Portfolio Transfer with RACQ
22nd February 2023
Enstar Group has announced that one of its wholly-owned subsidiaries has signed a Loss Portfolio Transfer (LPT) agreement with RACQ Insurance to reinsure 80% of RACQ’s motor vehicle Compulsory Third Party (CTP) insurance liabilities covering accident years 2021 and prior. RACQ will cede net reserves of approximately AUD$360 million, while Enstar’s ... Read the full article
Aon Reinsurance Solutions bolsters Netherlands team with senior hires
7th February 2023
Aon’s Reinsurance Solutions has bolstered its Netherlands team with a series of senior hires. The firm has appointed Kareem Chin as account director, Lieve Decuypere as senior broker, and Jiske Rigter as senior actuary. As account director, Chin will take a lead role in servicing and expanding the Dutch and cross-border client ... Read the full article