Reinsurance News
Dutch pension reform set to drive growth opportunities for life insurers: Fitch
12th June 2023
Fitch Ratings has highlighted the significant growth prospects that await Dutch life insurers as a result of the country's pension reform. The reform, which was passed by senators on May 30th, mandates the transition of all occupational pension schemes in the Netherlands to defined-contribution (DC) schemes by 2028, effectively bringing an ... Read the full article
Average rate increases in Canada up yoy, but pace of increase is slowing: Applied Systems
12th June 2023
New data from Applied Systems shows that average premiums for both Personal Auto and Personal Property lines increased year over year in Canada during the first quarter of 2023. According to the data, quarter over quarter, premium rate change decreased for both Personal Auto and Personal Property compared to Q422. Analysts reported ... Read the full article
SiriusPoint partners with aviation program administrator Air Centurion
12th June 2023
Aviation program administrator (PA) Air Centurion has announced a strategic partnership with SiriusPoint, a global specialty re/insurer. Starting from August 1, 2023, SiriusPoint will provide capacity to the PA, as well as collaborating on its underwriting strategy and product offering development. According to the announcement, Air Centurion will exclusively use SiriusPoint America ... Read the full article
Sylvain Jarrier appointed as Group Chief Underwriter Officer at PartnerRe
12th June 2023
Sylvain Jarrier has been appointed to the role of Group Chief Underwriter Officer at Bermuda-based reinsurer PartnerRe. He brings more than 15 years of senior management experience towards his new role. Jarrier has been with PartnerRe for two decades, having joined the firm in 2003 as a Property & Casualty Pricing Actuary. ... Read the full article
Senate Budget Committee launches investigation into insurance companies’ climate risk evaluation, fossil fuel support
12th June 2023
The Senate Budget Committee, led by Senator Whitehouse (D-RI), alongside Senators Wyden (D-OR) and Sanders (I-VT), initiated an investigation into the evaluation of climate-related risks by major U.S. insurance companies. The committee seeks to understand why these companies continue to support and underwrite fossil fuel expansion projects that contribute to climate ... Read the full article
Covéa and Gen Re back policies for new life insurtech Bluezone
12th June 2023
Bluezone, the insurtech company that is reinventing life insurance for people with chronic illnesses, has launched its first policy in the UK with a unique policy for people with Type 2 diabetes. This new life insurance solution offers people in the UK with Type 2 diabetes life insurance coverage through a ... Read the full article
100+ underwriters help UNDP insure FSO Safer operation
12th June 2023
More than 100 underwriters have been involved in the successful binding of insurance coverage for the FSO Safer operation, enabling the United Nations (UN) to proceed with an emergency ship-to-ship transfer to avert an oil spill that would amount to one of the world’s largest man-made environmental disasters in history. Led ... Read the full article
Sal Pollaro named Exec Underwriting Officer of Professional Liability at Markel Specialty
12th June 2023
Markel, the insurance operations within the Markel Group, has announced the appointment of Sal Pollaro as its Executive Underwriting Officer of Professional Liability for Markel Specialty, a division within the Markel insurance business. In his new role, Pollaro will lead the professional liability team to generate profitable growth. His remit will ... Read the full article
Liberty Specialty Markets names Zara Ismail as Head of Business Development – Claims
12th June 2023
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, appointed Zara Ismail as the new Head of Business Development - Claims, based in London. Ismail's appointment is effective immediately and she will report to Scott Kellers, Head of London Claims and Deputy Head of GRS International Claims, along with Mark ... Read the full article
Global Indemnity says multiple parties interested in merger or acquisition
12th June 2023
Global Indemnity Group, LLC has announced that in recent days, multiple parties indicated a preliminary interest in exploring an acquisition of or merger with Penn-America, Global Indemnity's insurance group, or an acquisition of or merger with Global Indemnity itself. The company is responding to certain of these preliminary indications of interest, ... Read the full article
Alliant Insurance Services appoints Dave Burbidge as VP for its Employee Benefits Group
12th June 2023
Alliant Insurance Services has announced the appointment of Dave Burbidge as Vice President within its Employee Benefits Group. Burbidge will be based in Salt Lake City, Utah. In this role, Burbidge's remit will include a focus on designing, implementing, and managing employee benefits solutions for a diverse and growing client base across ... Read the full article
R&Q raising up to $60m in equity, completes separation of program / legacy
12th June 2023
R&Q Insurance Holdings is raising up to $60 million in new equity through a preferred arrangement with one of its shareholders Scopia Capital Management, while also having announced the completion of an internal separation of its its Program Management business, Accredited, and its Legacy Insurance business. R&Q has actually confirmed raising ... Read the full article
OneDegree partners with Microsoft to drive Insurtech & cybersecurity innovations with Azure OpenAI
12th June 2023
OneDegree Global, a technology startup in the insurtech and cybersecurity sectors, has entered into a strategic partnership with Microsoft Hong Kong. The collaboration marks a major milestone between the two companies as OneDegree integrates Azure OpenAI Service into its IXT insurtech and Cymetrics cybersecurity solutions. OneDegree recently unveiled its latest generative AI ... Read the full article
Lockton appoints Eric Collison as the VP and Unit Manager of Memphis office
9th June 2023
Lockton announces the appointment of Eric Collison as the Vice President and Unit Manager to the global firm's Memphis office. Collison is an industry veteran with nearly two decades of industry experience. He brings extensive sales and management expertise towards his new role. Previously, he has worked for global firms including Liberty ... Read the full article
Canadian P&C insurers will be able to manage wildfire-insured losses: DBRS Morningstar
9th June 2023
Wildfire-insured losses will remain manageable for Canadian property and casualty (P&C) insurers but will add to extreme-weather concerns as they have been exposed to larger and more frequent weather-related losses, according to DBRS Morningstar. “Although Canadian P&C insurers’ results are likely to come under pressure during Q2 and Q3 2023, as ... Read the full article
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