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Allianz COO Stephanie Smith to depart

26th November 2021

Allianz Holdings has announced that its Chief Operations Officer (COO), Stephanie Smith, will stand down from her position and depart the company from December 31st to pursue new opportunities. Smith joined Allianz Insurance in 2009 as a Senior IT Manager before becoming Director, Operations for its Retail Division and then later ... Read the full article

Mitsui takes majority stake in Singapore re/insurance broker

26th November 2021

Mitsui & Co., Ltd. has acquired a majority share in Singapore-based insurance and reinsurance broker, Pana Harrison (Asia) Pte. Ltd., which will be rebranded to Mitsui Bussan Pana Harrison Pte. Ltd. Mitsui invested in Lloyd's broker PHA in 2020, and has been expanding its re/insurance broking business by establishing a presence ... Read the full article

Reinsurance pricing expectations high across lines, survey shows

26th November 2021

Data from the latest Reinsurance News market survey, undertaken in collaboration with our sister-site Artemis, shows that market participants overall are expecting price rises across all business lines next year, with loss-affected lines in particular forecast for large increases. The survey looked at responses from hundreds of identifiable market ... Read the full article

Strategic Risk Solutions acquires Global Re SCC in Barbados

26th November 2021

Strategic Risk Solutions (SRS), a provider of insurance management and consulting services, has announced the acquisition of Global Re SCC, a Barbados-registered Segregated Cell Company (SCC). Established in 2004 under the Companies Act of Barbados with a Class 1 license, Global Re SCC engages in both general insurance business and long-term ... Read the full article

Cybercube warns underwriters after GoDaddy attack

26th November 2021

New research has highlighted how a Single Point of Failure (SPoF) cyber attack represents one of the most likely ways the world could experience its first systemic cyber event, according to analytics company, CyberCube. The GoDaddy breach is the latest in a series of cyber attacks on SPoFs including the SolarWinds ... Read the full article

16% of US hurricanes now hitting northern states: Chaucer

26th November 2021

New research from specialty re/insurance group Chaucer shows that 16% of US hurricanes and storms are now hitting northern states such as New York, New Jersey and New England, compared to just 12% four decades ago. At the same time, data shows that the proportion of hurricanes that have hit southern ... Read the full article

Helios reports improved syndicate forecasts

26th November 2021

Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has announced the current mid-point forecasts for its portfolio of syndicate capacity for the 2019 and 2020 years of account, based on 3rd quarter 2021 estimates. The company, which acquires and consolidates private underwriting capacity at Lloyd’s, recorded a capacity position ... Read the full article

Miller hires Sally Hinchey as Head of Surety

26th November 2021

Specialist re/insurance broker Miller has appointed Sally Hinchey as Head of Surety, a newly created role. Hinchey will report into Pauline Goreham, Head of Construction, and will be based in London. With 16 years’ industry experience, she joins from Willis Towers Watson where she most recently held the position of Surety Director. At ... Read the full article

MPS syndicate to start trading in 2022

26th November 2021

Third-party Lloyd’s managing agent Asta has announced that Medical Protection Society (MPS) has been granted final approval for the transition of its Special Purpose Arrangement (SPA) 1892 to a market-facing syndicate. The syndicate will commence underwriting from the beginning of next year. MPS is offering its medical malpractice insurance for corporate providers ... Read the full article

European solvency ratios strong despite earnings dip: AM Best

26th November 2021

Analysts at AM Best have reported that regulatory solvency ratios among European insurers and reinsurers still remain strong, despite significantly lower earnings last year. In 2020, premiums for Europe’s 30 largest insurers also fell for the first time in several years, with overall gross written premiums down 0.7% on the figures ... Read the full article

SRS adds Bertrand Segui to European Actuarial Team

26th November 2021

Strategic Risk Solutions (SRS), a provider of insurance management and consulting services,has announced that Bertrand Segui has joined the company as the Head of Actuarial Services for SRS’s Luxembourg operations. Reporting to Managing Director of European Finance & Compliance Maxime Schons, Segui will assume responsibility for all the actuarial matters of ... Read the full article

Reinsurers could step back from secondary perils next year: Peel Hunt

25th November 2021

Analysts at Peel Hunt have speculated that the reinsurance industry may step back and lower its exposure to secondary perils next year, leaving primary insurers to take on more of the risks. As the renewal season progresses, Peel Hunt notes that reinsurers will currently be reassessing their property catastrophe risk appetite ... Read the full article

Chesnara to acquire Robein Leven from Monument Re

25th November 2021

Chesnara, a life and pensions consolidator in the UK and Europe, has entered into an agreement to acquire Robein Leven, a specialist provider of traditional and linked savings products, mortgages and annuities in the Netherlands. The business will be acquired from its current owner, Monument Re, who previously purchased Robein ... Read the full article

Arthur J. Gallagher acquires Real Estate Insurance Solutions in Utah

25th November 2021

Global insurance broker, Arthur J. Gallagher & Co. has announced the acquisition of Park City, Utah-based Real Estate Insurance Solutions for an undisclosed sum. Founded in 2004, Real Estate Insurance Solutions offers a range of real estate errors & omissions insurance/cyber liability coverages. Its clients include commercial and residential real estate agents ... Read the full article

Cyber-attacks are top concern for Board Directors: McGill

25th November 2021

According to a new report from specialist reinsurance broker McGill and Partners, cyber-attacks are the number one concern for Board Directors. 81% of board directors surveyed by McGill and Partners and NEDonBoard, the professional body for non-executive directors and board members, identified cyber-attacks as the biggest threat that their business currently ... Read the full article

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