Reinsurance News
AXIS Re adds AXA XL’s Lisa Hiscock to senior underwriting role
21st April 2021
AXIS Re, the reinsurance business segment of AXIS Capital, has appointed Lisa Hiscock to serve as Senior Underwriter, Lloyd’s Casualty within the Global Markets team. Hiscock will be underwriting Lloyd’s Casualty treaty business while providing support to existing partnerships and assessing new growth opportunities. She’s also expected to have a particular focus ... Read the full article
Core Specialty inks underwriting arrangement with DUAL
21st April 2021
Core Specialty Insurance Holdings has announced a new underwriting arrangement with DUAL Commercial that will provide primary and excess professional liability limits for qualified classes of business. DUAL is specialty program manager in the Property, Casualty, and Financial Lines marketplace and its hoped this partnership will build on its existing underwriting ... Read the full article
Greenlight Re invests in sports risk MGU Player’s Health
21st April 2021
Greenlight Re Innovations (GRI), a division of specialist hedge fund-backed property and casualty reinsurer Greenlight Capital Re, has announced a new investment in Ao1 Holdings Inc. (Player’s Health). Player’s Health is a managing general underwriter (MGU) that provides insurance and risk management services to the amateur sports organization market. The firm utilizes ... Read the full article
Marsh adds Alex Dahlmann to lead Swedish captive operations
21st April 2021
Insurance broker Marsh and announced the appointment of Alex Dahlmann as head of office for its Swedish captive operations. In this role at Marsh Management Services AB Sweden Dahlmann will help develop and deliver captive management, insurance, accounting, regulatory compliance, and consulting services to captive owners in the region. The captive was ... Read the full article
AXA XL partners with SpaceAble to support satellite operators
21st April 2021
AXA XL has formed a new partnership with SpaceAble, a start-up specialising in Space Situational Awareness (SSA), to better support satellite operators and organisations operating in space. Based in France, SpaceAble’s aim is to enhance operational safety in Low Earth Orbit (LEO) through the collection and management of space-related data and ... Read the full article
Further challenges ahead for cyber insurers, warns Fitch
21st April 2021
Analysts at Fitch Ratings note that a higher propensity of cyber incidents will likely hinder a near-term reversal of claims cost trends, suggesting increasing profit pressure for cyber insurers. During 2020, property / casualty (P/C) insurers that write cyber cover reported substantially higher claims losses than in prior years, reports Fitch. Over ... Read the full article
GIG hires David Charlton as Chief Executive of insurance operations
21st April 2021
Global Indemnity Group has appointed David Charlton as Chief Executive of insurance operations as well as a member of its board of directors. Charlton joins with particular expertise in excess and surplus, binding authority, small business, and other specialty insurance businesses. Prior to joining Global Indemnity, he worked at Chubb for seven ... Read the full article
Travelers nearly halfway to triggering aggregate reinsurance cover
21st April 2021
Travelers has reported that it accumulated almost $915 million of qualifying losses towards its aggregate retention during the first quarter of 2021. The insurer lifted the attachment point of its catastrophe reinsurance structure to $1.9 billion at the January renewals, meaning it is almost halfway to triggering its coverage with only ... Read the full article
Howden expands in Spain with ARTAI takeover
21st April 2021
International insurance broker Howden has announced the acquisition of ARTAI, an independent corporate broker based in Spain. The acquisition will expand Howden’s presence across Spain, Portugal and Morocco, where ARTAI maintains a workforce of 600 employees across 30 offices, and manages more than €350 million in premiums. ARTAI was founded 28 years ... Read the full article
GRS hires Andrew Whitfield as Intl. Executive General Adjuster
21st April 2021
International loss adjuster Global Risk Solutions (GRS) has appointed Andrew Whitfield as International Executive General Adjuster. Whitfield has over 30 years of experience in construction, energy, power, nuclear and property insurance sectors throughout the United States as well as Canada, Europe, Latin America and South Asia. Before joining GRS, he held the ... Read the full article
Helios names Reith and Libassi as Non-Exec Directors
21st April 2021
Helios Underwriting has announced the additions of Tom Libassi of ILS Capital Management and Martin Reith, the Founder of Ascot Underwriting Limited, as Non-Executive Directors of the company with immediate effect. Libassi is the Co-Founder and Managing Partner of ILS Capital Management. He joins Helios as a Non-Executive Director following his ... Read the full article
Trinity Underwriting forms carrier partnership with Obsidian
21st April 2021
Amwins Underwriting-owned Trinity Underwriting Managers has announced a new carrier partnership with Obsidian. The partnership will look to enhance Trinity Underwriting’s automotive liability product offerings, including solutions for towing, automotive repossession, sand and gravel, paratransit and intermodal trucking businesses. "The automotive industry has faced volatility and a myriad of complex challenges, leaving ... Read the full article
Global reinsurer capital grows 4% to new high of $650bn: Aon
21st April 2021
Analysts at Aon have reported that global reinsurer capital increased by 4% year-on-year to a new high of $650 billion at the end of 2020. According to Aon, the increase was driven by strong capital market recovery from the COVID-19 shock in the first quarter, new equity issuance and US dollar ... Read the full article
W. R. Berkley posts record quarterly underwriting gain for Q1
21st April 2021
W. R. Berkley Corporation has reported net income of $229.5 million and a quarterly underwriting gain of $182.6 million for the first-quarter of 2021. The company's net income improved significantly from the $4.4 million loss reported a year earlier, while underwriting income reached a quarterly high. Both gross and net premiums written ... Read the full article
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