Reinsurance News
EIOPA releases report on climate change risk scenarios in ORSA
21st April 2021
The European Insurance and Occupational Pensions Authority (EIOPA) has released a report which explores the use of climate change scenarios in the Own Risk and Solvency Assessment (ORSA) addressed to national supervisory authorities. Within the report, EIOPA set out expectations on the supervision of the integration of climate change risk scenarios ... Read the full article
Munich Re’s consulting unit adopts pricing tech from Akur8
21st April 2021
Munich Re has entered into a global cooperation agreement with Akur8 to boost the pricing capabilities of Munich Re’s Global Consulting Unit. Specifically developed for re/insurance, Akur8’s solution is designed to enhance pricing processes by automating risk and demand modelling, using artificial intelligence proprietary technology. The solution promises a reduction in modelling ... Read the full article
You can’t build a shiny new skyscraper on foundations of sand: Dun & Bradstreet’s Harrison
20th April 2021
The role of data & analytics is changing in the re/insurance industry but as carriers have looked to bolster their capabilities, a few things have served to hinder their efforts, according to James Harrison, UKI Head of Insurance at global data and analytics firm, Dun & Bradstreet (D&B). In a recent ... Read the full article
David Fike named Head of Zurich’s NA Life, Accident & Health unit
20th April 2021
The recently-formed North American Life, Accident and Health unit of Zurich is set to be led by new Head David Fike, an industry stalwart who has been with the global insurer since 2014. Fike will report to Zurich North America CEO Kristof Terryn. Reporting to Fike, David Dietz is to continue serving ... Read the full article
HDI Global SE hires Andrew Perry as Marine Underwriting Manager
20th April 2021
Primary commercial specialist HDI Global SE, Australia has appointed Andrew Perry to the newly created role of Marine Underwriting Manager, Western Region. Perry brings over twenty years of Marine underwriting experience and has served in senior roles at several well-known Marine insurers. His appointment will take place next month and will be ... Read the full article
Price Forbes launches digital General Aviation facility
20th April 2021
Independent insurance broker Price Forbes has launched a new digital General Aviation facility designed to quickly quote and bind risks with a leading Lloyd’s syndicate. This development within Price Forbes’ proprietary EDGE platform is expected to improve speed of service and placement for clients by delivering quotes in real time. EDGE is ... Read the full article
Miller extends partnership with Concirrus for Quest Marine platform
20th April 2021
Re/insurance broker Miller has extended its partnership with insurtech company Concirrus to continue to utilise its Quest Marine platform. The platform will provide Miller's brokers with information which can target client improvement efforts on the most critical factors affecting the portfolio. This can relate to vessel maintenance, organisational profile, or behaviour at ... Read the full article
Arch’s UK regional division announces two key senior promotions
20th April 2021
The UK regional division of Arch Insurance has promoted Vicky Rowlay to National Director - Business Transformation and Neil Peters to National Director - Branch Network, with immediate effect. Rowlay is set to focus on developing and implementing key business strategies as well as assuming responsibility for the company’s Regional Trading ... Read the full article
Travelers reports higher Q1 profit result despite $835m cat losses
20th April 2021
The Travelers Companies, Inc. has reported a year-on-year increase in net income to $733 million for Q1 2021, despite catastrophe losses, net of reinsurance, hitting $835 million. Up from $600 million in the prior year period, the increase was driven by higher core income, higher net favourable prior year reserve development ... Read the full article
Howden hires Felix Jenny to lead Swiss operation
20th April 2021
Insurance broker Howden has appointed Felix Jenny to lead its new retail operation in Switzerland, following last years acquisition of IRIA, the Geneva-headquartered specialist political risk and credit insurance broker. Howden Switzerland will form an important part of Howden’s European business, delivering local market expertise to the Group’s multinational client base ... Read the full article
Swiss Re joins auto tech firm Veoneer to further road safety solutions
20th April 2021
Global reinsurer Swiss Re is partnering with automotive technology specialist Veoneer on road safety solutions designed to help further the development of advanced driver assistance systems (ADAS) and related services. The partnership will see Veoneer enhance its ADAS tech using the insights and empirical knowledge Swiss Re has accumulated over years ... Read the full article
BHSI hires Brian Robb as SVP, Head of Cyber
20th April 2021
Berkshire Hathaway Specialty Insurance (BHSI), the insurance arm of Warren Buffett's global insurance and reinsurance company, has appointed Brian Robb as Senior Vice President, Head of Cyber/MPL/Tech. Robb comes to BHSI after just under 11 years at CNA Insurance, where his experience spanned both the underwriting and claims sides of the business. He was ... Read the full article
Aegon CTO Mark Bloom to step down in June
20th April 2021
Life Insurer and asset manager Aegon has announced that its Global Chief Technology Officer Mark Bloom is to depart the company on June 1 in pursuit of other opportunities. Bloom will have served in the role for over five years, leading Aegon's technology and innovation activities. He arrived at Aegon in 2016 as ... Read the full article
Munich Re forecasts major losses from winter storms, but also a profitable Q1
20th April 2021
Global reinsurer Munich Re has pre-warned that losses in its property / casualty reinsurance segment from major events came in above-average for the first-quarter of 2021, primarily as a result of the severe winter weather in the U.S. in February. The German reinsurer is the latest to comment on the significant ... Read the full article
Korean Re partners with healthcare insurtech Leapstack
20th April 2021
Seoul-based reinsurer Korean Re has partnered with Leapstack, an AI-powered insurtech that specialises in healthcare, to support Leapstack’s expansion into the Korean insurance market. Leapstack, which has already partnered with several of Korea’s largest insurers, aims to provide big data AI solutions for commercial insurance companies and social security management agencies. In ... Read the full article