18th June 2021
J. Patrick Gallagher, Jr. Chairman, President and CEO at Arthur J Gallagher, has said that the company remains “wide open” to taking on more business from the pending merger between Aon and Willis Towers Watson (WTW), should it be offered up as part of a further remedy package. It was confirmed ... Read the full article
17th June 2021
The Lloyd's of London insurance and reinsurance market has taken out a £650 million cover from an investment bank and reinsurers to protect its Central Fund against significant loss events, according to a report from the FT. The Central Fund reinsurance, or perhaps retrocession, arrangement, will have a five-year term and ... Read the full article
18th June 2021
Bermudian reinsurer Ariel Re is sponsoring its first 144A index-triggered catastrophe bond, which is being issued by Bermuda special purpose insurer Titania Re. Titania Re will provide $150 million of multi-year collateralised reinsurance protection to Ariel Re structured using an indexed industry loss trigger. The company's inaugural cat bond provides it ... Read the full article
18th June 2021
Independent insurance distribution firm BRP Group has partnered with Nasdaq to offer tailored directors & officers (D&O) Liability Insurance programs and solutions for companies listed on Nasdaq through its subsidiary, AHT Insurance. AHT Insurance provides property and casualty, employee benefits, retirement, personal and international services for clients, with specialised expertise in ... Read the full article
18th June 2021
Tractable, an AI company that assists insurers with accident and disaster recovery, has raised $60 million in a Series D investment round led by Insight Partners and Georgian. The round more than doubles the total amount of funding raised by Tractable from $55 million to $115 million and values the company ... Read the full article
18th June 2021
Global reinsurer AmericanAg has announced the appointment of Doug Nuehring to its team as Assistant Vice President – Underwriting/Marketing. Nuehring will be responsible for underwriting a portion of the firm’s broker assumed international portfolio, including programs in Western and Northern Europe and China. He joins from EMC Reinsurance Company, where he spent ... Read the full article
18th June 2021
Insurance management and reinsurance consulting company Trean Insurance Group has promoted Chief Financial Officer Julie Baron to the new position of President and Chief Operating Officer, and Chief Accounting Officer Nicholas Vassallo to Chief Financial Officer. Baron has served as Trean’s CFO since 2015 and Treasurer and Secretary since 2020. Prior to ... Read the full article
18th June 2021
The Insurance Council of Australia (ICA) says that insurers have so far received more than 15,700 claims from the recent severe weather affecting regions across metropolitan and regional Victoria, with more claims expected to be lodged over the coming days and weeks. The estimated cost is thought to be around $144 ... Read the full article
18th June 2021
Wolfe Research has appointed Mike Zaremski as Director and Head of the Insurance Group, where he will cover both Life and Non-Life Insurance sectors. Zaremski is a a well known Property and Casualty Analyst, and joins from Credit Suisse. At Credit Suisse, he apprenticed under Life Insurance analyst Tom Gallagher from 2007 ... Read the full article
18th June 2021
GlobalData analysts believe the Aon and Willis Towers Watson merger will complement each broker's business solutions and deliver better client services, following a block of their proposed merger by the Justice Department in the US. The U.S. Department of Justice (DOJ) filed a civil antitrust lawsuit to block the proposed ... Read the full article
18th June 2021
Arch MI, the private mortgage insurance subsidiary of Arch Capital, has obtained over $616 million of indemnity reinsurance on a pool representing approximately $36 billion of mortgages from special purpose reinsurer Bellemeade Re 2021-2 Ltd. Approximately $523 million in bonds and $93 million in direct reinsurance was issued in order to ... Read the full article
18th June 2021
Scott Stransky, formerly of catastrophe risk modeller AIR Worldwide, has joined global brokerage Marsh McLennan (MMC) to lead its new Cyber Risk Analytics Center of Excellence. Stransky leaves AIR after 14 years of service, having joined in 2007 as an analyst. Most recently, he led the Cyber Modelling group, which is ... Read the full article
18th June 2021
Rating agency AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a-” (Excellent) of China Reinsurance Company, Hong Kong (China Re). This comes after China Life Reinsurance Company (China Re Life) provided a ... Read the full article
18th June 2021
New Zealand’s Earthquake Commission (EQC) has said that ongoing investment in natural hazard science, including the geological hazard monitoring service GeoNet, is key to maintaining the confidence of international reinsurance markets in providing coverage for the country. Fraser Gardiner, Chief Financial Officer at the EQC, noted that the GeoNet platform not ... Read the full article
17th June 2021
Lloyd's of London Chief Financial Officer (CFO) Burkhard Keese has explained that the primary motivation behind the £650 million reinsurance cover that Lloyd's has purchased for its Central Fund is to facilitate the rapid pace of growth that the market has achieved recently, and is continuing to target. In a press ... Read the full article
17th June 2021
Re/insurance broker Aon has named Eric Schwebach Senior Managing Director of its Reinsurance Solutions unit, focusing on the management of major clients as well as the generation of new business. He reports to Trevor Dorr, Executive Managing Director of Reinsurance Solutions. Based in Minneapolis, he joins from rival broker Guy Carpenter, where he ... Read the full article
