Reinsurance News
Aon names head of global credit, unveils new global credit team
13th June 2023
Leading global professional services firm Aon plc appointed Ben Walker as the head of global credit, spearheading a united team that combines various credit reinsurance classes to enhance client experience and offer comprehensive solutions. It has also unveiled a new global credit team structure within its Reinsurance Solutions division. The global credit ... Read the full article
Cover Whale surpasses $500m in all-time written premium
13th June 2023
Cover Whale, a rapidly growing insurtech and commercial trucking insurance provider, has surpassed the $500 million mark in all-time written premium. This milestone represents the firm's rapid growth since it wrote its first commercial trucking policy in March 2020. It also clearly demonstrates Cover Whale's position as a "driving force" within ... Read the full article
US commercial insurance rates increase to above 5% in Q1: WTW
13th June 2023
Commercial insurance prices in the US have continued to increase in the first quarter of 2023 to above 5%, according to a recent survey by WTW. The Commercial Lines Insurance Pricing Survey (CLIPS) compared insurance prices on policies underwritten during the first quarter of 2023 to those charged for the same ... Read the full article
Confie expands portfolio with acquisitions of Sanborn’s Insurance and Atlantic Insurance Agency
13th June 2023
Confie, a leading personal lines insurance distribution company, announced the acquisition of two prominent insurance agencies, Sanborn's Insurance and Atlantic Insurance Agency. These strategic acquisitions fall in line with Confie's continued efforts to expand its portfolio and establish a stronger presence in key markets. The company has acquired Sanborn's Insurance, which will ... Read the full article
Brian Steinhoff becomes Vantage Risk new SVP Property Catastrophe
13th June 2023
Vantage Risk, part of Vantage Group Holdings Ltd., has named Brian Steinhoff as Senior Vice President, Property Catastrophe, a Bermuda-based role. Prior to his new role, he served as Vice President Property Catastrophe Lead at Vantage Risk. He joined the company from Hamilton Insurance Group and has also held roles at ... Read the full article
John Welch named CUO of Aspen’s Reinsurance division
13th June 2023
Bermuda-based insurer and reinsurer, Aspen Insurance Holdings, appointed John Welch as the Chief Underwriting Officer of its reinsurance division, effective June 26. With over three decades of global experience in reinsurance, Welch brings a wealth of knowledge to his new role. Welch's extensive executive background includes leadership positions at prominent global ... Read the full article
Bruno Laval joins Everest Insurance as CCO
13th June 2023
Everest Insurance, the insurance division of Bermuda-based re/insurer Everest Re Group, has announced the appointment of Bruno Laval as Chief Commercial Officer (CCO) for its International division, effective June 26, 2023. In his new role, based in Madrid, Spain, Laval will be responsible for Everest’s international market and distribution strategy with ... Read the full article
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
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