20th September 2021
Based on its high-resolution US Hurricane Reference Model, KCC estimates that the insured loss from hurricane Nicholas will be close to $950 million. On September 9, a tropical wave formed over the western Caribbean Sea and moved toward the northwest steadily until it reached the southern Gulf of Mexico the following ... Read the full article
20th September 2021
Brazilian reinsurer IRB Brasil Re has announced the appointment of Raphael Afonso Godinho de Carvalho as its new Chief Executive Officer (CEO), effective October 1st, 2021. Carvalho takes over from Wilson Toneto, who has held the CEO role in the interim since March 2021 and who will remain as Chief Technical ... Read the full article
21st September 2021
Liberty Specialty Markets (LSM) has announced the appointment of Michael Harth, who will be joining the company in January as Country Manager for Germany. Harth reports to Kadidja Sinz, Head of Central Region and will be based in Cologne. He will be responsible for leading the German team and delivering strategy and ... Read the full article
21st September 2021
James River Group Holdings, Ltd. has announced the appointment of Brett Shirreffs, formerly of Argo Group International Holdings, as Senior Vice President, Investments and Investor Relations, effective September 20th, 2021. In his new role, Shirreffs takes on responsibility for investments, investor relations, and rating agency activity. He joins James River Group from ... Read the full article
21st September 2021
Robert Wiest has been appointed as the new Chief Executive Officer (CEO) of MS Amlin AG (MS AAG), MS Amlin’s reinsurance company operations, effective January 3rd, 2022. Wiest currently serves as Chief Operating Officer (COO) for Reinsurance at Swiss Re, where he has worked for over two decades. He took up his ... Read the full article
21st September 2021
AM Best is expecting that surplus lines market conditions will remain tight for the remainder of 2021 and into 2022 due to the ongoing impact of COVID-19, which, combined with outsized property catastrophe losses, has provided an opportunity for the sector to demonstrate its resilience. Although the surplus lines segment fared ... Read the full article
21st September 2021
The primary insurance arm of global reinsurer Everest Re Group, Ltd., Everest Insurance, has announced the appointment of Andrew McBride as Senior Vice President, Global Head of Claims. In his new role, McBride will be based in London and will report directly to Mike Karmilowicz, President and Chief Executive Officer (CEO) ... Read the full article
21st September 2021
Australian Reinsurance Pool Corporation (ARPC) has welcomed the Australian Government’s appointment of Julie-Anne Schafer to its Board as a part-time Member for a three-year term commencing 14 September 2021. ARPC administers the national terrorism reinsurance pool. Schafer is currently a Non-Executive Director at Queensland Urban Utilities, C S Energy, and Av Super. She ... Read the full article
20th September 2021
Analysts at Swiss Re have warned that the high levels of sovereign debt across emerging markets could impact the outlook for re/insurers in these regions through lower insurance demand and weaker investment returns. In a new report, Swiss Re Institute notes that emerging markets' sovereign debt is at the highest level ... Read the full article
20th September 2021
AM Best has upgraded the issuer credit ratings (ICRs) of Ascot Group’s operating subsidiaries to reflect their strategic importance to the parent company, which is forecast to achieve profitable growth over the medium term. The rating agency upgraded the long-term ICR to “a+” (Excellent) from “a” (Excellent) and affirmed the financial ... Read the full article
20th September 2021
Independent reinsurance broker BMS Re has announced the appointment of Jerry Farrell as an Executive Vice President (EVP) in its origination team. Farrell previously spent 10 years at Toa Reinsurance Company where he was executive vice president and chief underwriting officer, with responsibility for P&C underwriting results for North America Prior to ... Read the full article
20th September 2021
Acrisure Re, the reinsurance business of Acrisure, has announced several senior appointments within its corporate advisory and solutions division (ARCAS), all of which will report to Managing Director, Ben Canagaretna. Firstly, Nick Godfrey has been named as Head of Capital Markets, with responsibility for capital raising activities across ILS, funds at Lloyd’s ... Read the full article
20th September 2021
According to a new report by rating agency AM Best, despite the significant returns of premiums during the pandemic in 2020, rated U.S. property/casualty mutual insurance companies still managed to grow premium modestly. The report shows that net premiums written (NPW) for the rated U.S. mutuals grew by 1.4% last year. Although ... Read the full article
20th September 2021
The Insurance Development Forum (IDF) and the Vulnerable Twenty (V20) Group of Ministers of Finance have called for joint collaboration and international support to strengthen global physical climate risk management capabilities. Together, the IDF and V20 also announced their intention to advance on the creation of the Global Risk Modelling Alliance ... Read the full article
20th September 2021
Apollo Syndicate Management, the independent specialist insurer and reinsurer, has announced the appointment of Paul Sandi to head the build-up of a casualty treaty team within Syndicate 1969, subject to Lloyd’s approval. Sandi has nearly 20 years of industry experience and joins Apollo from Canopius, where he was head of casualty ... Read the full article
