Reinsurance News
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RiverStone International acquires Catalina Insurance Ireland
11th September 2023
RiverStone International, the largest provider of legacy solutions in the Lloyd’s market, has signed an agreement with members of the Catalina Group to acquire Catalina Insurance Ireland, an Irish insurance company regulated by the Central Bank of Ireland. The acquisition, which remains subject to regulatory approvals, is set to broaden RiverStone International's ... Read the full article
Financials Acquisition Corp forms Lloyd’s insurance vehicle
8th September 2023
Financials Acquisition Corp has established London Innovation Underwriters Limited (LIU) in order to implement its strategy of becoming "a listed operating company deploying funds into the Lloyd's of London insurance market." According to Financials Acquisition Corp, the Lloyd's of London insurance market has a strong track record of innovation and underwriting ... Read the full article
Dozen insurtechs to join Lloyd’s Lab new Asia Pacific climate, cyber and sustainability cohort
7th September 2023
Re/insurance marketplace Lloyd’s has announced the 12 insurtech firms set to join the 11th cohort of its innovation hub, the Lloyd’s Lab, which will focus on climate, cyber and sustainability in Asia Pacific. The new theme introduced this year will focus on developing solutions to some of the biggest risks faced ... Read the full article
Amie Watson to head Trium Cyber London office
29th August 2023
Trium Cyber, a Lloyds of London cyber insurance specialist, has announced the appointment of Amie Watson as Head of International Underwriting. In her new position, Watson will establish Trium’s presence in London by building out the company’s international platform. “Amie is a well-known and highly regarded underwriter of cyber risk and an ... Read the full article
Neptune’s growth in re/insurer relationships provides $100m+ additional premium capacity
23rd August 2023
Neptune Flood, a private flood insurance company, has announced successful growth in insurance carrier and reinsurer relationships, having reviewed and expanded programs with AXA XL, MS Transverse, and Lloyds. The 2023-24 renewals have expanded Neptune's network to 23 insurance carriers and reinsurers, backing six unique programs with AXA XL, MS Transverse, ... Read the full article
QIC posts 181% rise in net profit in H1’23
15th August 2023
Qatar Insurance Company (QIC), an insurer for Middle East North African (MENA) region, has reported a net profit of QAR 325 million for the first half of 2023, rising 181% from the same period in 2022. "Throughout the first half of this year, QIC has maintained its strategic focus on expanding ... Read the full article
Lloyd’s leads re/insurers tightening Taiwan cover as conflict risks increase
10th August 2023
According to a recent Reuters report, Lloyd's of London underwriters are leading insurers in increasing rates and cutting coverage for risks involving Taiwan as "concerns grow over possible military action by China." "Availability of cover for Taiwan has got tighter," Crispin Hodges, head of trade and political risk with insurer Canopius, ... Read the full article
Lloyd’s General Counsel Peter Spires to step down
9th August 2023
Lloyd's, the global insurance and reinsurance marketplace, has announced that Peter Spires has decided to step down as General Counsel to pursue new challenges in the Lloyd’s market. Spires joined Lloyd’s in 1995 and spent the early years of his career at Lloyd’s focused on Reconstruction and Renewal and then the ... Read the full article
Lloyd’s closes down Austria, Finland, and Poland branch offices
1st August 2023
Lloyd’s Insurance Company S.A. (Lloyd’s Europe) announced that it will close down European branch offices in Austria, Finland, and Poland, effective from July 31, 2023. Instead, the company said it will only provide services to these locations, but just without a formal office in each location. "...it will no longer provide non-life ... Read the full article
Beckmann joins Munich Re as CUO Casualty for Lloyd’s & Bermuda Markets and Global Clients
13th July 2023
Lucas Beckmann has joined global reinsurance giant Munich Re in a new position as Chief Underwriting Officer (CUO) Casualty for Lloyd's & Bermuda Markets and Global Clients. Beckmann has over fifteen years of experience working with Munich Re in various roles. He most recently served as the CUO for Munich Re Facultative ... Read the full article
Lloyd’s names Rebekah Clement as Corporate Affairs Director
12th July 2023
Lloyd's, the global insurance and reinsurance marketplace, appointed Rebekah Clement to the newly created role of Corporate Affairs Director, effective immediately. In this position, Clement will report directly to Lloyd's CEO, John Neal. The establishment of a dedicated Corporate Affairs function aims to consolidate Lloyd's capabilities across government policy, external stakeholder ... Read the full article
Berkshire gets giant $1bn share of Florida Citizens reinsurance renewal
11th July 2023
Florida’s Citizens Property Insurance Corporation has completed the placement of its 2023 risk transfer program, securing just over $2.98 billion of protection from a mix of traditional and collateralised reinsurers for its Coastal and Personal Lines (PLA) accounts, of which more than $1 billion was secured from Berkshire Hathaway. As well ... Read the full article
Beazley ESG Consortium continues growth as capacity moves to follow syndicate 5623
10th July 2023
Specialist insurer Beazley has unveiled the next phase of its ESG consortium, with Beazley’s dedicated ESG capacity being provided solely by 5623 from 1st January 2024, subject to regulatory approval Through the combination of its size, cost effectiveness and expertise as a leading follow syndicate, 5623 is "well placed" to deliver ... Read the full article
IRL becomes first ever InsurTech-focused broker to enter the Lloyd’s market
23rd June 2023
Innovative Risk Labs (IRL), a leading InsurTech specialist dedicated to launching, incubating and supporting start-ups in the insurance technology space, has secured a license to operate within the Lloyd’s market. This “ground-breaking achievement” makes IRL the only exclusive InsurTech-focused broker permitted to conduct trade within the Lloyd's market. Under the leadership of ... Read the full article
Marsh McLennan to help Ukraine access global insurance market
22nd June 2023
Re/insurance brokerage, Marsh McLennan, has announced it will work with the Ukrainian government to help it unlock access to the global insurance market. As part of the support, the broker said it will provide services on a pro-bono basis to design and deliver a risk data platform that will allow insurers ... Read the full article