Reinsurance News

Third Point Re takes stake in new Bermuda MGA Arcadian Risk Capital

17th September 2020

Third Point Re, the Bermuda-based reinsurance company, has announced an investment and partnership with new managing general agent (MGA) Arcadian Risk Capital Ltd. a start-up led by well-known industry executive John Boylan. Boylan is launching Arcadian Risk Capital Ltd. as an MGA focused initially on underwriting Excess Casualty and Professional Lines ... Read the full article

Blackstone & Fairfax back Ki in $500m capital raise

17th September 2020

Ki, the fully digital and algorithmically-driven Lloyd’s of London syndicate, has raised USD 500 million of committed capital from two backers, funds managed by Blackstone Tactical Opportunities and Fairfax Financial Holdings Limited. The creation of Ki was revealed in May 2020 and the capital commitment is expected to fund the ... Read the full article

Marine market sees modest recovery but future uncertain: IUMI

18th September 2020

The International Union of Marine Insurance (IUMI) has noted a modest recovery in the marine re/insurance market during the 2019 underwriting year, but warns that the future of the market remains uncertain due to the COVID-19 pandemic. IUMI estimates that marine underwriting premiums totalled $28.7 billion in 2019, representing a 0.9% ... Read the full article

Combined Aon / WTW to foster a new standard of client leadership & innovation

17th September 2020

The "once-in-a-generation" combination of global insurance and reinsurance brokers, Aon and Willis Towers Watson (WTW), will deliver distinctive client insight, advanced analytical capabilities, and superior outcomes, according to Greg Case, Chief Executive Officer (CEO) of Aon and John Haley, CEO of WTW. Following weeks of speculation, Aon confirmed back in ... Read the full article

Guy Carpenter partners with insurtech RiskGenius on silent cyber risk

17th September 2020

Guy Carpenter, the reinsurance arm of global broker Marsh, has established a partnership with insurtech RiskGenius to help evaluate potential silent cyber exposure. The partnership will provide clients with a means of assessing their silent cyber exposure at scale, while generating risk insights designed to support a greater understanding of silent ... Read the full article

Blenheim parent secures £80mn investment from Alchemy

17th September 2020

White Bear Capital, the parent company of Lloyd's syndicate Blenheim, is to receive an investment of £80 million from Alchemy Special Opportunities Fund IV, a closed private equity fund managed by Alchemy Partners. As part of the deal Alchemy will take a substantial stake in the group alongside the staff and existing investor ... Read the full article

Phinsys launches Inform, a new finance data dashboard

17th September 2020

Finance automation software provider Phinsys has announced the launch of Inform, a new finance data dashboard designed to allow insurers to aggregate their finance data and optimise it for accurate reporting and analysis. Phinsys says the dashboard enables finance and actuarial teams to see the granular data they need for individual ... Read the full article

Xceedance and Oasis LMF offer exposure analysis for US perils

17th September 2020

Re/insurance service provider Xceedance has teamed up with the Oasis Loss Modelling Framework (Oasis LMF) to offer on-demand exposure analysis and results for three key US catastrophe perils. In partnership with model providers CoreLogic, Fathom, and Applied Research Associates (ARA), the Xceedance-Oasis LMF services provide loss metrics for US earthquake, flood, ... Read the full article

New wildfire regulations introduced for Californian insurers

17th September 2020

A series of new regulations will be introduced to Californian insurers due to the current wildfires which are continuing to burn across California. Insurance Commissioner Ricardo Lara has scheduled an investigatory hearing on Monday, October 19. The hearing will take place in order to initiate a series of regulatory actions that ... Read the full article

Industry viewed pandemic risk through too narrow a prism: SCOR’s Kessler

17th September 2020

For the most part, pandemic had historically been viewed as a life catastrophe exposure, but the COVID-19 outbreak has shone a light on the potential impacts of a pandemic on the global property & casualty (P&C) sector. In a keynote held this morning as part of insurer and reinsurer SCOR's virtual ... Read the full article

AXIS Insurance expands U.S. Excess Casualty team

17th September 2020

AXIS Insurance, part of AXIS Capital Holdings, has announced the appointments of Jonathan Martin and Jennifer Fisher as Vice President and Assistant Vice President, respectively, within the its U.S. Excess Casualty underwriting team. Martin joins AXIS with over 12 years of experience at Gen Star Management where he held a variety ... Read the full article

RT Specialty appoints Seth Johnson President of Binding Authority

17th September 2020

RT Specialty, the wholesale brokerage unit of Ryan Specialty Group, has appointed Seth Johnson president of RT Binding Authority. Effective January 1, Johnson will succeed Scott H. Smith, who announced his intent to retire at the end of 2019. Johnson is currently president of RT Specialty - Atlantic, having joined the company ... Read the full article

Generali (GC&C) appoints Head of Underwriting in Asia

17th September 2020

Generali Global Corporate & Commercial (GC&C), a subsidiary of the Italian insurance giant, has announced the appointment of Brendan McDonald as Head of Underwriting for Asia. McDonald joined Generali in 2018 as Head of Financial Lines Underwriting for GC&C Asia. Prior to that, he was Head of Liability at Oman Insurance Company ... Read the full article

2020 already third highest year for insured Cali wildfire losses: Moody’s

17th September 2020

At nearly $5 billion, 2020 is already the third-highest year for California insured wildfire losses behind 2017 and 2018, according to Moody’s Investors Service. In a new report, Moody’s says wildfires across California, Oregon, Washington and other western states have damaged or destroyed around 9,657 homes and commercial structures and burned ... Read the full article

Remote working to have lasting consequences for re/insurers: GlobalData

17th September 2020

Data and analytics company GlobalData believes that the increase in remote working due to the COVID-19 pandemic will have lasting consequences for the insurance and reinsurance industries. With remote working levels set to stay significantly higher than before the coronavirus crisis, /reinsurers will need to adapt to remote working being more ... Read the full article

Zurich adds climate change to natural hazards risk advisory service

17th September 2020

Global insurer Zurich has expanded its natural hazards risk advisory to include climate change services, underscoring its commitment to sustainability and a 1.5°C future. Zurich's newly launched Climate Change Resilience Services is designed to help businesses better prepare for both current and future climate change risks. Climate change is consistently viewed as ... Read the full article

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