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EMC Re names Linda Rivera as AVP, Business Intelligence
7th October 2020
EMC Reinsurance Company (EMC Re), part of EMC Insurance Companies, has announced the appointment of Linda Rivera as Assistant Vice President (AVP) - Business Intelligence, based in New York. Rivera, a seasoned reinsurance professional, brings more than 35 years of experience in underwriting, risk management, and operational efficiency to the role. She ... Read the full article
Pen announces key appointments to delegated solutions division
2nd October 2020
Multi-territory managing general agent Pen Underwriting has announced a series of new leadership and underwriting appointments within its delegated solutions division. The new talent will be spearheading the expansion of its commercial and household businesses, where underwriting authority is delegated toon to specialist coverholders. Michael King will join from Canopius on 1 ... Read the full article
Law firm considering action against twelve insurers after High Court BI win
21st September 2020
Mishcon de Reya, the law firm that represented the Hiscox Action Group, could persue legal action against twelve new insurers following its Business Interruption insurance victory in the UK High Court. Based on the sample of policy wordings presented by the FCA, the court decided that most, but not ... Read the full article
BI test case ruling unlikely to affect ratings of UK non-life insurers: Fitch
16th September 2020
The recent High Court ruling on the COVID-19 business interruption (BI) insurance test case, brought by the Financial Conduct Authority (FCA), is unlikely to have an adverse impact on the ratings of UK non-life insurers, says Fitch Ratings. The recent judgement went against insurers in a number of areas, and ... Read the full article
Lloyd’s hires Uwe Schoberth as US Market Development Director
14th September 2020
Insurance and reinsurance marketplace Lloyd’s of London has announced the appointment of Uwe Schoberth as US Market Development Director. In this newly created role, Schoberth will focus on expanding strategic relationships with retail, wholesale and reinsurance brokers in Lloyd’s largest market. Collaborating with business development teams in London and the US, he ... Read the full article
Reinsurer capital raises unlikely to threaten favourable market conditions: Fitch
2nd September 2020
The flurry of meaningful capital raises in the reinsurance industry in the aftermath of the COVID-19 outbreak are not expected to hinder current favourable market conditions, according to analysis by Fitch Ratings. In Fitch's universe of global reinsurers, a combined $10.3 billion of capital has been raised since March 2020 as ... Read the full article
Ardonagh Group plans takeover of Thames Underwriting
19th August 2020
The Ardonagh Group has announced that it plans to acquire Thames Underwriting, a specialist MGA that provides insurance solutions to brokers across the Construction, Leisure and Commercial sectors. Following the takeover, Thames will join Ardonagh’s suite of MGA brands and will operate within Geo Specialty Group Holdings Limited. Thames is headquartered in ... Read the full article
COVID-19 compounds losses, uncertainty for Lloyd’s syndicates in 2019
19th August 2020
A recent forecast update for all syndicates supported by third party capital at re/insurance marketplace Lloyd’s of London shows that the 2019 year of account felt the lion's share of COVID-19 losses and caused a variety of outcomes and uncertainties. According to managing agency Argenta Group, Hiscox and Tokio Marine Kiln are ... Read the full article
Public COVID-19 losses among re/insurers up 23% to $24.8bn
18th August 2020
Publicly recorded COVID-19-related losses among the largest global insurance and reinsurance companies have increased by almost 23% to $24.8 billion, according to data compiled by Zurich-based financial services advisory, PeriStrat LLC. We wrote on July 27th that publicly reported losses from the coronavirus pandemic among the largest re/insurers had reached ... Read the full article
HDI Global Specialty SE Australia bolsters senior team with two new hires
12th August 2020
HDI Global Specialty SE Australia, the specialty lines insurer, has announced the appointments of Anja Dix-Eberhardt as Head of Risk and Compliance, and Nick Newton who joins as Head of Finance & Operations. Dix-Eberhardt moves from QBE Group where she held senior roles in both Risk Reporting & Systems and Enterprise ... Read the full article
Peter Askew named President & CEO of Guy Carpenter in Canada
5th August 2020
Reinsurance broker Guy Carpenter has named Peter Askew as President and Chief Executive Officer (CEO) of its Canadian business, effective immediately. Askew succeeds Donald Callahan, who has stepped down from the role in Canada after two decades, and will continue to support Askew. Callahan will remain with the reinsurance broker in ... Read the full article
Climate data start-up Jupiter raises capital from Liberty Mutual, MS&AD
3rd August 2020
Jupiter, a provider of predictive data and analytics for climate risk, has raised additional capital from P&C insurers Liberty Mutual and MS&AD, as well as from SYSTEMIQ, which specialises in sustainable economic systems. Jupiter plans to use the new capital to fuel the expansion of its operations and increase product development. "In ... Read the full article
Arch hires new senior underwriters to its Australian Insurance unit
29th July 2020
Arch Capital, the global re/insurer, has announced the appointment of Simon Reid and Melissa Ahern to its Insurance division in Australia, as Senior Underwriters in Accident & Health. The pair will join Arch Insurance International with immediate effect from 29th July 2020. Reid and Ahern will be responsible for providing targeted solutions ... Read the full article
COVID-19 insurer & reinsurer loss reports
27th July 2020
COVID-19 loss reports and reserves reported by insurance or reinsurance companies This table documents publicly reported COVID-19 pandemic-related losses, IBNR reserves and estimates from insurance and reinsurance companies. The data was originally collected by Zurich-based financial services advisory PeriStrat LLC, operated by Hans-Joachim Guenther, and has now been ... Read the full article
Swiss Re appoints Pranav Pasricha as Global Head P&C Solutions, Reinsurance
23rd July 2020
Global reinsurance giant Swiss Re has named Pranav Pasricha, current Chief Executive Officer (CEO) of Intellect SEEC, as Global Head P&C Solutions of the company's global Reinsurance arm, effective August 3rd, 2020. He takes over from Eric Schuh, who is leaving the reinsurer to take on an exciting new challenge outside ... Read the full article
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