Reinsurance News

Aon adds industry expert Katherine Kuehn as MD, Cyber Solutions

4th October 2022

Insurance and reinsurance broker Aon has hired Katherine Kuehn from vArmour as Managing Director (MD) within its Cyber Solutions division, where she will build upon her network to develop and provide innovative solutions in the cyber risk space. In her new role, Kuehn will leverage her network of key cyber, government ... Read the full article

Ariel Re gets green light for Lloyd’s Managing Agent

4th October 2022

Global reinsurer Ariel Re has been granted regulatory approval to launch a Managing Agent at Lloyd's of London, a statement from the company has confirmed. The company received approval from the Prudential Regulatory Authority, the Financial Conduct Authority and Lloyd’s to commence the new operation, called Ariel Re Managing Agency (ARMA). Once ... Read the full article

Inflation could “absolutely dominate” reinsurance outlook: PwC’s Bichard

4th October 2022

Jim Bichard, Global Insurance Leader for PwC, has warned that inflationary challenges could “absolutely dominate” the insurance and reinsurance landscape in the near future. Speaking to Reinsurance News at the recent RVS 2022 event in Monte Carlo, Bichard identified the main trends under discussion as the scarcity of available reinsurance capacity ... Read the full article

Mosaic adds excess tech E&C coverage to cyber product offering

4th October 2022

Mosaic Insurance’s cyber division has launched excess capacity and coverage for a new product aimed at protecting technology sector companies from rapidly emerging liability risks. The insurer now offers excess technology errors and omissions (E&O) as companion cover to cyber for businesses ranging from AI, virtual reality, edtech, and IT consulting ... Read the full article

Severe weather events pose uncertainty for US homeowners segment: AM Best

4th October 2022

According to a new report from AM Best, the US homeowners insurance segment could come under pressure with 2022 results expected to be impacted by Hurricane Ian. The hurricane, which made landfall Wednesday the 28th as a major Category 4 storm with maximum sustained winds of around 155 mph near ... Read the full article

Berkley Re UK appoints Daniel Keshav as Head of Casualty Treaty

4th October 2022

Berkley Re UK, part of W.R. Berkley Corporation, has promoted Daniel Keshav from Deputy Head of Casualty Treaty, a role he held for over three years, to Head of Casualty Treaty. Keshav has over 25 years of experience in the industry. Prior to joining Berkley Re UK in 2019 he spent ... Read the full article

Berkshire (BHSI) names North American claims leaders

4th October 2022

Berkshire Hathaway Speciality Insurance (BHSI) has announced that it has appointed several claims executives to new roles within its North American region. Among the new appointments is Rob Romeo, who has been named Head of Claims, North America. Romeo has over two decades of industry experience and was previously Senior Vice ... Read the full article

Hurricane Ian will change the Florida re/insurance market landscape: RMS

4th October 2022

According to the Chief Risk Modelling Officer at RMS, Mohsen Rahnama, Hurricane Ian has the potential to be one of the largest, if not the largest, insured catastrophe losses in US history, with implications for both the Florida, reinsurance, retrocession, and ILS markets. Hurricane Ian made landfall on Wednesday the 28th ... Read the full article

Amwins gets exceptional delegated authority ratings from AM Best

4th October 2022

AM Best has assigned its highest Performance Assessment of PA-1 (Exceptional) to a group of seven delegated underwriting authority enterprises (DUAEs) of the Amwins Group, with a stable outlook. Launched this year, AM Best's performance assessment for DUAEs looks at underwriting capabilities, governance and internal controls, financial condition, organizational talent and ... Read the full article

CNA Hardy makes several appointments across Continental Europe

4th October 2022

CNA Hardy, a provider of specialist insurance solutions for commercial businesses, has announced a series of appointments as part of the company’s growth plans in Europe. Oliver Tobies joins the Cologne office as Life Science & Technology Underwriting Manager. His experience includes roles at Hiscox and Chubb. In his new role Tobies ... Read the full article

Public finance issuer ratings to remain stable following Ian: Fitch

4th October 2022

According to a new report from Fitch Ratings, the ratings of US public finance issuers affected by Hurricane Ian will largely remain stable, but the credit quality of some issuers with lesser resources and financial flexibility could weaken. While the full extent of property damage in Florida, Georgia and the Carolinas ... Read the full article

Curran and Shaffer take senior distribution roles at Ryan Specialty

4th October 2022

Ryan Specialty has announced the promotions of Tom Curran and James Shaffer to senior distribution roles within its Ryan Specialty Underwriting Managers unit. Curran has been appointed as Chief Wholesale Distribution Officer and Shaffer as Chief Retail Distribution Officer. The former specializes in the wholesale insurance marketplace and has over 25 years’ ... Read the full article

2021 active year for M&A, says AM Best

4th October 2022

A new report from AM Best says that 2021 was an active year for mergers and acquisitions with large block reinsurance transactions leading to a 41% increase in admitted assets owned by private equity firms. The report, Private Equity Continues to Make Inroads in Insurance Industry, AM Best states that as ... Read the full article

WTW hires Chang from Sompo Intl. as Head, Corporate Risk & Broking NA

4th October 2022

WTW has hired Michael Chang to be its new head of corporate risk and broking for North America, succeeding Mike Liss, who plans to retire in the first half of next year. Prior to joining WTW, Chang served for six years as co-leader of Sompo International’s Global Insurance and CEO of ... Read the full article

Berkshire (BHSI) promotes Anselm Waigand to Head of Risk Engineering, Germany

4th October 2022

Berkshire Hathaway Specialty Insurance (BHSI) has announced that it has appointed Anselm Waigand as Head of Risk Engineering, Germany. Waigand was previously Senior Risk Engineer at BHSI in Frankfurt, Germany, having joined BHSI in 2020. He has more than 15 years of engineering experience at major global insurers, including a 6-year spell ... Read the full article