Reinsurance News
Munich Re America appoints Angela Homm as Chief Risk Officer
13th June 2023
The US brand of global reinsurance giant Munich Re (MRAS) has appointed Angela Homm to the role of Chief Risk Officer, effective June 12, 2023. In the role, she will report to Adrienne W. Mageras, President and CEO, MRAS and will also become a member of the MRAS Leadership Team. Prior to ... Read the full article
Kin expands its presence into Alabama
13th June 2023
Kin, a direct-to-consumer home insurance firm has expanded its presence into Alabama. The state of Alabama is ranked fourth in the United States for tornadoes, large hail, and damaging wind reports. At the same time, the state's position near the coast also leaves its residents susceptible to record-breaking natural disasters such as ... Read the full article
B.P. Marsh sees Net Asset Value increase to £189.5m in FY results
13th June 2023
Specialist private equity investor B.P. Marsh & Partners Plc has reported that Net Asset Value increased to £189.5m in its final results on 31 January 2023, marking a 13.8% increase from £166.6m on 31 January 2022. B.P. Marsh also recorded an increase in the equity value of its portfolio of £22.2m ... Read the full article
Whitespace Platform releases 5th major update
13th June 2023
Whitespace, a fully digital e-trading platform for the global re/insurance marketplace, has announced the release of its version 2.12, its fifth major update in the past six months. This latest update introduces comprehensive support for MRC v3 guidelines, ensuring compatibility with all contract headings detailed in the MRC v3 document published ... Read the full article
Nationwide to go through re-underwriting initiatives to further improve its book
13th June 2023
The specific business actions U.S. insurer Nationwide is taking as it looks to address current issues impacting the insurance industry, includes some re-underwriting initiatives within its small commercial and personal lines portfolios, as the carrier works to improve its book overall. We wrote yesterday that Nationwide was the latest U.S. ... Read the full article
S&P forecasts further increases in P&C insurance premiums through 2023
13th June 2023
"We expect P&C insurance premiums for commercial properties, including multifamily, will keep rising through 2023," suggests S&P Global Ratings credit analyst Raymond Kim. Kim's comments stem from a report in which S&P Global Ratings analysed 2020-2022 expense trends on 60 loans on U.S. affordable housing properties receiving low-income housing tax credits. Its ... Read the full article
Guy Carpenter strengthens its cyber team with various senior appointments
13th June 2023
Guy Carpenter, the global risk and reinsurance specialist and a business of Marsh McLennan, has announced the expansion of its Cyber team with a series of appointments and promotions. Matthew McCabe has been appointed as the Managing Director of Cyber Broking, based in New York. McCabe’s remits go beyond reinsurance structure ... Read the full article
Arturo expands catastrophe response capabilities to the United States
13th June 2023
Arturo, the property intelligence company that delivers portfolio-wide underwriting, risk and claims insights, has announced a global expansion of its catastrophe response capabilities to the United States insurance market. In the last couple of years, Arturo has proven the value in bridging disparate data sets to derive impactful property insights, playing ... Read the full article
Insurwave appoints Mark Costin as its Commercial Director
13th June 2023
Insurwave, the insurtech platform that helps global businesses manage complex insurance needs, has announced the appointment of Mark Costin as its Commercial Director. He will be based in London. Costin is an aviation insurance industry veteran, with three decades of experience. In this role, his remit will include leading the firm’s ... Read the full article
Resilience names Pruzinsky Global Head of Underwriting & Sales
13th June 2023
Cyber insurer Resilience has promoted CJ Pruzinsky to Global Head of Underwriting & Sales. Previously, he led the underwriting team from the launch of the company’s managing general agency. His appointment, Resilience stated, reflects the company’s international growth and recent new solution launch to help clients better manage their cyber risk. In ... Read the full article
Nationwide taking action to mitigate risk in personal and commercial lines portfolios
12th June 2023
Large U.S. insurer Nationwide Mutual Insurance has announced that it is taking "specific business actions" in an effort to mitigate risk and manage its personal and commercial lines portfolios, citing the economic landscape, inflation, and catastrophic weather events. The insurer notes that these actions are impacting the entire insurance industry, and ... Read the full article
Skyline partners with Spire Global to bring satellite observation to parametric insurance
12th June 2023
Skyline Partners, a parametric specialist, has partnered up with Spire Global, a global provider of space-based data, analytics and space services, to bring the capabilities of satellite observation to parametric insurance. Both firms will work together to develop new risk transfer tools which will ultimately help close the coverage gap for ... Read the full article
Core Specialty forms Medical Stop-Loss Division
12th June 2023
Core Specialty and its subsidiaries, have announced the formation of a Medical Stop-Loss Division through the acquisition of the MGU/Stop-Loss business of American National Group (ANAT). According to the announcement, the business is being acquired for cash through the acquisition of 100% of the stock of Standard Life and Accident Insurance ... Read the full article
ICW Group promotes Iva Yuan to SVP, Product & Actuarial
12th June 2023
ICW Group Insurance Companies, a leading group of property and casualty carriers, has promoted Iva Yuan to the position of Senior Vice President, Product & Actuarial. In her new role, Yuan will be responsible for leading the company's actuarial and product management practices. Yuan's primary focus will be on enhancing ICW Group's ... Read the full article
AXIS names Lori Bailey as Global Head of Growth within Global Cyber & Tech unit
12th June 2023
AXIS Capital Holdings Limited has announced the appointment of Lori Bailey as its Global Head of Growth within the Global Cyber & Technology division. She will be reporting to Dan Trueman, the Global Head of Cyber & Technology. In this newly created position, Bailey's remit includes shaping the team’s strategic direction. ... Read the full article
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